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MONEY DIARIES: Working Hard & Acknowledging Privilege! · 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 Kerney 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 to She's on the Money, the podcast
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Speaker 2: for millennials who want financial freedom. Welcome back to another
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Speaker 2: one of our money diaries where I get the very
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Speaker 2: exciting privilege of talking to one of our incredible She's
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Speaker 2: on the Money community members all about their money story.
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Speaker 2: Let's jump straight into it because this week our team
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Speaker 2: got this message, Hi, She's on the Money. I'm the
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Speaker 2: youngest of five in a family where we weren't taught
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Speaker 2: about money. Mum is what I would describe as financially loose,
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Speaker 2: while Dad is very conservative. When we became adults, Mum
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Speaker 2: and dad were struggling financially and began to borrow money
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Speaker 2: from us. When I was twenty five. My career in
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Speaker 2: financing in the automotive industry saw me earning one hundred
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Speaker 2: and thirty thousand dollars a year, and I purchased my
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Speaker 2: first home while single. Now, at thirty one, I'm engaged
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Speaker 2: buying another house while paying for a wedding. My fiance's
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Speaker 2: parents give us money towards the house, and I really
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Speaker 2: want to talk about this privilege with the community. Money diarist,
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Speaker 2: I also want to talk about this privilege with the community.
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Speaker 2: Thank you for wanting to share this as it's so important.
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Speaker 3: Thank you for having me on. Yeah.
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Speaker 4: For me, we're just so lucky to be able to
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Speaker 4: have this help. My fiance and I are extremely hard working.
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Speaker 4: But if we have the ability to use I guess
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Speaker 4: generational wealth, you would say why not?
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Speaker 2: Yeah, I absolutely agree, And I think the important thing
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Speaker 2: here is first things first, nobody in this situation is
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Speaker 2: being taken advantage of. But then secondly, we really need
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Speaker 2: to kind of break this down because how many times
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Speaker 2: do we, you know, flippantly say things like, oh my gosh,
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Speaker 2: it's the bank of mom and dad, and like, we
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Speaker 2: don't mean it in a super negative way, but that
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Speaker 2: has a super negative connotation. As you guys know, I
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Speaker 2: own a mortgage broking business with my business partner Kate
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Speaker 2: called Zella Money, and we see it all the time, right,
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Speaker 2: Like we see people coming in and their parents are
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Speaker 2: giving them the deposit or their parents are helping out
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Speaker 2: with the loan repayments, and there just seems to be
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Speaker 2: I guess a lot of shame around that because they're like,
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Speaker 2: oh yeah, but like my friends don't get this help,
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Speaker 2: or you know, all of these other things don't happen.
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Speaker 2: But I think we need to talk about it because
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Speaker 2: I think the situation should honestly be good on you
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Speaker 2: money dires, like use what's you know, use what's successible
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Speaker 2: to you, because I guarantee your fiance's parents are like
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Speaker 2: super proud that they're in the position where they can
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Speaker 2: do that for you. It probably gives them a lot
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Speaker 2: of gratification. It probably makes them feel so good about
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Speaker 2: the world. And I just think these things shouldn't be
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Speaker 2: in the shadows. It should just be something where yeah, no, no,
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Speaker 2: we do have help, full stop. End of story. Like,
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Speaker 2: it's not a judgment thing, it just is what it is, right,
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Speaker 2: I think.
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Speaker 4: So and for us, we at the start, we weren't
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Speaker 4: going to tell anyone, and I think it was because
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Speaker 4: of that shame well we didn't save that money ourselves
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Speaker 4: and things like that. But at the same time we yes,
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Speaker 4: the Bank of Mum and Data have helped us substantially
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Speaker 4: with the deposit, but at the same time we're going
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Speaker 4: to pay that back to them as well. So it's
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Speaker 4: not a handout. It's just, hey, we want you to
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Speaker 4: be able to pay less to the bank and some
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Speaker 4: back to SO.
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Speaker 2: And I'm super glad that you've kind of prefaced this
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Speaker 2: conversation with going I want to talk about this privilege.
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Speaker 2: Like you already know what's a privilege. It's something that's
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Speaker 2: not extended to absolutely everybody. But we're going to break
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Speaker 2: it down. So let's jump into the actual interview part
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Speaker 2: of this podcast. The question I always ask first is money, Dirist.
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Speaker 2: I want to know what grade would you give your
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Speaker 2: money habits from A through to F.
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Speaker 3: I'd probably have to give it like A C plus.
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Speaker 2: Ooh, a C plus.
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Speaker 3: Or like a B minus minus.
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Speaker 2: Or B minus minus. I've never heard someone give themselves
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Speaker 2: a B minus minus. But let's learn a little bit
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Speaker 2: about it. You said in your letter into us that
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Speaker 2: you would describe your mam as financially loose and your
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Speaker 2: dad is very conservative. Can you tell us a little
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Speaker 2: bit more about your money story.
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Speaker 4: Yeah, So, like you mentioned, I'm the youngest of five.
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Speaker 4: So for us, my parents had my brother when they
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Speaker 4: were really young and then four kids, like had me
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Speaker 4: when they were twenty years later they had me.
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Speaker 3: Hey, yep, and they've been married for fifty two years.
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Speaker 3: Oh my heart.
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Speaker 2: They're doing something right.
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Speaker 3: They're doing something right?
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Speaker 2: Is the answer? Just having lots of babies over a
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Speaker 2: long period of time.
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Speaker 3: I don't know.
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Speaker 2: I mean it's working. The science says yes.
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Speaker 4: The science says yes. They also work together though, so
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Speaker 4: they own their own business. So for them to live
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Speaker 4: and work together and have five children, I feel as though, yeah,
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Speaker 4: they must be doing something right because that just seems
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Speaker 4: like a rarity.
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Speaker 3: Yeah.
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Speaker 2: No, Oh my gosh, how good. So what did they
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Speaker 2: teach you about money? How did you grow up around money?
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Speaker 2: Was it something that made you feel good, awkward or
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Speaker 2: was it not disgusted at all?
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Speaker 1: Like?
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Speaker 2: What was that like in your life.
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Speaker 4: Yeah, it wasn't really disgusted at all. I mean, my
5:48
Speaker 4: older siblings may have had a different upbringing to what
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Speaker 4: I did because they are substantially older than what I am.
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Speaker 4: But for my brother and I, we didn't really Yeah,
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Speaker 4: there was no discussion around mine.
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Speaker 1: You know.
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Speaker 4: My parents owned their home at the time, they had
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Speaker 4: their own business, and we went on holidays, we did
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Speaker 4: all all the things like I just we never talked
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Speaker 4: about money. I guess we didn't really have pocket money
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Speaker 4: or anything like that though, but we never went without.
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Speaker 4: And that's something that now that I'm an adult, I realize
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Speaker 4: how amazing my parents were. They were just Oh, I
6:24
Speaker 4: have so much love for my parents. They're just amazing
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Speaker 4: human beings.
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Speaker 2: I can tell by the tone of your voice that
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Speaker 2: is the best to hear. All right, next question I've
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Speaker 2: got for you. Tell me what do you do for work?
6:34
Speaker 2: How much money do you own?
6:36
Speaker 3: So I am.
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Speaker 4: In marketing and I earn one hundred and ten thousand
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Speaker 4: dollars a year, plus I have a company car, so
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Speaker 4: I don't pay any car expenses.
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Speaker 2: Ool, very nice. Is that included in your salary package?
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Speaker 2: Or is that like above and beyond the one ten
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Speaker 2: that's above and beyond.
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Speaker 3: The one ten.
6:54
Speaker 2: Oh, very sexy. We like that. How did you get
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Speaker 2: your career in marketing? Like, what did you study and
7:00
Speaker 2: what type of career progression have you had over the years.
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Speaker 4: So I actually started off as a receptionist in the
7:06
Speaker 4: automotive industry, which was, you know, minimal wage, and then
7:10
Speaker 4: I worked my way up. So I worked in sales
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Speaker 4: and finance within automotive, and that's where I started to
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Speaker 4: earn some really good money. So I think I was
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Speaker 4: like twenty three and I was earning like one hundred
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Speaker 4: and ten, one hundred and twenty grand my first year,
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Speaker 4: and then yeah, one hundred and thirty my second year,
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Speaker 4: and it was it was amazing, And that's yeah, that's
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Speaker 4: how I bought my first house.
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Speaker 2: What made you go from working in finance, which arguably
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Speaker 2: can be relatively lucrative, and I'm assuming that there was
7:39
Speaker 2: some level of base salary and then a type of
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Speaker 2: commission on top of that. What made you go from
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Speaker 2: that into marketing?
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Speaker 4: I realized probably about two years after doing finance that
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Speaker 4: I really disliked it.
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Speaker 2: That's not my experience, but yes, it was more just
7:55
Speaker 2: I had.
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Speaker 4: No work life balance. I was you know, personal circumstance.
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Speaker 4: I was quite depressed that sort of thing, and I
8:03
Speaker 4: said to my boss one day, I said, I quit
8:05
Speaker 4: like I'm.
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Speaker 3: Done, Oh my god.
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Speaker 4: And he said to me, he said you can't leave.
8:09
Speaker 4: And I said, watch this. Yeah, I don't want to
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Speaker 4: do finance and he said, well, he said, I want
8:14
Speaker 4: to keep you.
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Speaker 3: What do you want to do?
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Speaker 4: And I said I have no idea And he said,
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Speaker 4: why don't you give marketing a go? And I said,
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Speaker 4: I am the most uncreative person like that exists. I
8:26
Speaker 4: swear like I don't think that I'm creative at all.
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Speaker 4: And he goes, just give it a go. I'm sure
8:30
Speaker 4: you'll like it.
8:31
Speaker 3: Anyway.
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Speaker 4: Seven years later, here I am absolutely loving my job.
8:35
Speaker 2: Oh my gosh. And are you here to tell me
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Speaker 2: also that marketing is more about strategy than it is
8:42
Speaker 2: about creativeness. Is that potentially where we're going with this?
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Speaker 4: Yeah, definitely it is it. It's completely strategic. The creative
8:50
Speaker 4: is just one tiny components.
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Speaker 2: I love it. I love it, you know. Personal anecdote.
8:55
Speaker 2: Hear my husband works in marketing, and he works in
8:59
Speaker 2: the analytics side of marketing. And every time I tell people, yeah,
9:02
Speaker 2: like my husband in marketing at this company. They'll be like,
9:04
Speaker 2: oh my gosh, how cool, Like that company's branding is
9:07
Speaker 2: epic or this that the other, and I'm like, oh no, no, no,
9:09
Speaker 2: Like it's the strategy side of things. Like I think
9:12
Speaker 2: every time someone thinks of marketing, you think you've got
9:15
Speaker 2: to be really creative, but that's not the case at all.
9:17
Speaker 2: Like it can actually be quite strategic and quite analytical
9:21
Speaker 2: and like quite i don't know, really really engaging in
9:23
Speaker 2: a great way.
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Speaker 4: Definitely, And I think that's one thing that people look
9:27
Speaker 4: at social media and they go, oh, that's marketing, and
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Speaker 4: I'm like, no, that's like five percent of my job. Yeah, exactly,
9:34
Speaker 4: it's very minimal of what I actually do.
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Speaker 3: Yees.
9:37
Speaker 4: So I had been in marketing now for about seven years,
9:40
Speaker 4: but it was only two years ago or two and
9:42
Speaker 4: a half years ago that I decided to get my degree.
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Speaker 4: So I was working full time and studying full time
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Speaker 4: during the pandemic to do my Bachelor of Biz measoring
9:54
Speaker 4: in marketing.
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Speaker 2: So congratulations, Are you glad to have some level of
9:58
Speaker 2: work life balance back now?
10:00
Speaker 4: Definitely? It makes such a difference. I love my job,
10:04
Speaker 4: I love life like it just it just makes you
10:06
Speaker 4: feel good to wake up in the morning and know
10:08
Speaker 4: that you're going to a job that you really enjoy.
10:10
Speaker 2: Now you don't always have to study to work in
10:13
Speaker 2: a specific area. I think there's this big common misconception
10:17
Speaker 2: that you absolutely need a university degree to absolutely thrive. Obviously,
10:21
Speaker 2: you already had the job, like and you'd been working
10:23
Speaker 2: in the job. I would assume very successfully for five
10:26
Speaker 2: years before deciding to do the degree. But what made
10:29
Speaker 2: you want to go back and study and actually get
10:32
Speaker 2: that qualification? I guess why would you choose to do
10:35
Speaker 2: that after having the job already.
10:36
Speaker 4: I think looking at it, it was more of a
10:39
Speaker 4: self development for one thing, but also career progression. So
10:43
Speaker 4: I know that when you do want to go for
10:45
Speaker 4: those higher jobs that they do want to see a degree.
10:49
Speaker 4: But I used it to my advantage. So what I
10:51
Speaker 4: did was I loved working for oh I love working
10:54
Speaker 4: for the company that I work for. So I decided
10:57
Speaker 4: that when I finished my degree, I walked into the
11:00
Speaker 4: COO's office and I said, Hey, finish my degree.
11:03
Speaker 3: Now you know what are you gonna pay me?
11:06
Speaker 2: Ah? No, you did not. How do you have that audacity?
11:09
Speaker 2: Please give us some.
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Speaker 4: Honestly, we have such a great relationship. So I just went,
11:14
Speaker 4: you know, like he'll know that I mean this in
11:16
Speaker 4: the in the best way possible. But I also now
11:19
Speaker 4: know my worth. I've just spent, you know, fifty thousand
11:22
Speaker 4: dollars on a degree, so to take it to the
11:25
Speaker 4: next level, now I.
11:26
Speaker 3: Need to recoup those costs.
11:27
Speaker 2: Oh my gosh. I love that you just walked in
11:29
Speaker 2: and said, Hey, it's me, look at me. I have
11:32
Speaker 2: a degree. What are you going to do about this?
11:35
Speaker 2: Like that's the audacity we all need. Like, I think
11:37
Speaker 2: that that's so powerful. Obviously, later in this chat, we're
11:41
Speaker 2: going to get into talking a little bit about family wealth.
11:44
Speaker 2: So before we get there, I need to be even
11:46
Speaker 2: more pervy money, Darrist, what's your partner do? How much
11:49
Speaker 2: does your partner earn?
11:50
Speaker 4: I would have to say we're extremely privileged between the
11:52
Speaker 4: two of us of what our income is. So my
11:55
Speaker 4: partner's and operations manager for audio visual and he earns
12:01
Speaker 4: one forty five a year.
12:04
Speaker 2: Oh my gosh, very nice.
12:06
Speaker 4: Yeah, so between the two of us, obviously we have
12:09
Speaker 4: a very comfortable income. But we also, I guess, spend
12:12
Speaker 4: way below what we make because well we try to
12:18
Speaker 4: you anyway, I call him the bank rolling bougie boyfriend
12:22
Speaker 4: or now fiance.
12:23
Speaker 2: Yeah okay, I really like that. Congratulations, but also lock
12:27
Speaker 2: that down stairs.
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Speaker 4: Because he loves to spend money. So whereas I'm the
12:32
Speaker 4: one that's sort of like a little bit more conservative.
12:35
Speaker 4: I guess like my dad, I'm more conservative, whereas he's
12:38
Speaker 4: more like my mum. Which is so funny that we're
12:41
Speaker 4: in this relationship.
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Speaker 3: Again.
12:42
Speaker 2: I really do believe that in every relationship there is
12:45
Speaker 2: a spender and there is a saver. There's no such
12:47
Speaker 2: thing as having two genuine savers or two genuine spenders.
12:51
Speaker 2: There's always one of each. And that's what causes the
12:54
Speaker 2: most conflict. Is that something that raises a bit of
12:56
Speaker 2: conflict in your relationship.
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Speaker 4: Surprisingly, it's not. Our communication style is really open, so
13:02
Speaker 4: we don't have I guess, arguments or conflict around money
13:07
Speaker 4: because it's very much. We have separate bank accounts, but
13:10
Speaker 4: we also put money into a joint bank account, and
13:13
Speaker 4: then obviously with our wedding savings and stuff, we both
13:15
Speaker 4: have a common goal, which is to pay for our
13:18
Speaker 4: wedding and to pay for our honeymoon and things like that,
13:20
Speaker 4: So we keep our extra money separate or else you know,
13:24
Speaker 4: the extra money that we earn separate and that way
13:27
Speaker 4: we can just do what we want with it, whether
13:30
Speaker 4: we saving it or spending it or whatever.
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Speaker 2: So I love that. I love it so much. I
13:35
Speaker 2: have to be slightly rude and ask another question, which
13:38
Speaker 2: you're probably not going to like all that much, but
13:40
Speaker 2: I think is really important. So money often is a
13:44
Speaker 2: really big pain point in relationships because there's not enough
13:47
Speaker 2: of it. And obviously you said you have a really
13:49
Speaker 2: great salary. Your partner has a really great salary. He's
13:52
Speaker 2: a bit of a spender. But to be honest, like
13:54
Speaker 2: looking at your personal situation from the outside, like, you're
13:57
Speaker 2: probably in a pretty good position, so it doesn't really
13:59
Speaker 2: matter if your partner is a bit of a spender. Right,
14:02
Speaker 2: do you think that if you didn't have such high
14:04
Speaker 2: incomes that could become a pain point in your relationship.
14:08
Speaker 4: I think yes, definitely. So my previous relationship, prior to
14:12
Speaker 4: meeting my fiance, I was the I guess, the breadwinner
14:16
Speaker 4: as tradition tells us, and my partner earned minimum wage.
14:20
Speaker 4: Now I didn't have an issue with that. He enjoyed
14:23
Speaker 4: what he did, so that was fantastic. However, he had
14:26
Speaker 4: a real issue with the ability of me earning my
14:29
Speaker 4: money the way that I did, and that's I think
14:32
Speaker 4: that was the issue is because it was more of
14:34
Speaker 4: that traditional gender role.
14:37
Speaker 2: Yeah, yeah, Okay, it's just interesting to ask because I know,
14:40
Speaker 2: you know, there are going to be a lot of
14:42
Speaker 2: our friends in the car driving to work this morning
14:44
Speaker 2: listening to this podcast, and they're like, mate, of course
14:47
Speaker 2: you're not going to fight about money because you have
14:48
Speaker 2: so much of it. But I think it's really interesting.
14:50
Speaker 2: I guess asking a perfect question like that because it
14:53
Speaker 2: does make I guess our money direst reflect on it
14:55
Speaker 2: and go, well, actually, I've been in a situation where
14:57
Speaker 2: that's not the case, and now it's just, you know,
14:59
Speaker 2: a lot easier. And I think that it's just nice
15:01
Speaker 2: to have these open, honest conversations because money is stressful
15:05
Speaker 2: and money can be overwhelming, and it obviously gets slightly
15:09
Speaker 2: easier when you have more, but that doesn't necessarily mean
15:11
Speaker 2: that you don't argue about it. You often just argue
15:14
Speaker 2: about different things. And I feel like, yeah, having these
15:17
Speaker 2: conversations is just super super important. You touched before on Yeah,
15:22
Speaker 2: we have shared goals. We're both saving for this house,
15:25
Speaker 2: we're both saving for this wedding, which is super exciting.
15:28
Speaker 2: Let's dive into that though. What are your big money goals?
15:31
Speaker 2: What are we working towards this year?
15:33
Speaker 4: So this year, so we've recently just obviously bought our house. Congratulations, Yes,
15:40
Speaker 4: very exciting.
15:41
Speaker 3: It's our dream home.
15:42
Speaker 2: Oh my gosh. What was it like signing the contract?
15:45
Speaker 2: Were you like, this is surreal?
15:47
Speaker 4: Yes, so we'd actually we were going to build a house,
15:52
Speaker 4: and we put a deposit on a block of land,
15:56
Speaker 4: you know, we did all of that sort of stuff,
15:58
Speaker 4: and then I had a freak out. I went, this
16:01
Speaker 4: is so much cold feet. I said, this is so
16:04
Speaker 4: much money, and I don't think we should be doing this.
16:07
Speaker 4: And this is before interest rates were rising, and I'm
16:11
Speaker 4: so glad we didn't go that way. But we end
16:14
Speaker 4: up looking at existing houses and my fiance said, how
16:18
Speaker 4: about we look in our dream area, and I said,
16:21
Speaker 4: there's no way we can afford a house in our
16:23
Speaker 4: dream marriage.
16:23
Speaker 2: Yeah, of course he would have thought that you were crazy.
16:27
Speaker 4: We walked into the house and I said to my fiance,
16:30
Speaker 4: this layout looks really familiar, and it ended up being
16:34
Speaker 4: the exact same layout of the house that we were
16:36
Speaker 4: going to build.
16:37
Speaker 2: No what wasn't Yes, Oh my gosh, they had already
16:40
Speaker 2: built it for you.
16:42
Speaker 4: So this one was about three years old, but it
16:45
Speaker 4: was the exact layout that we wanted from the exact builder,
16:48
Speaker 4: like we know. Yeah, I said to my fiance, this
16:53
Speaker 4: is meant to be, like we have to buy this house,
16:57
Speaker 4: and it all just.
16:58
Speaker 3: Fell into place.
16:58
Speaker 2: Oh my gosh.
17:00
Speaker 3: Our offer was accepted straight away, which for.
17:02
Speaker 2: Me was mind blowing, mind blowing. It's meant to be hard.
17:06
Speaker 2: Everyone talks about property being hard. What do you mean
17:08
Speaker 2: you just accepted it. Isn't there meant to be an
17:10
Speaker 2: argument and like another bidder or something in the background
17:13
Speaker 2: trying to out bid us, like I don't know.
17:15
Speaker 4: Yeah, so but nothing like that. It was like, yeah,
17:18
Speaker 4: your office accepted, and yeah, we'd already had we'd spoken
17:21
Speaker 4: to a brokera and we'd already had our finance approved
17:23
Speaker 4: and things like that. So it was really easy. That
17:27
Speaker 4: that whole process was really easy. So that was our goal.
17:30
Speaker 4: But now our goal has moved to our wedding. So
17:34
Speaker 4: we have savings for both our wedding and our honeymoon
17:38
Speaker 4: and yeah, that's we're just excited to have that as
17:42
Speaker 4: our big goal.
17:44
Speaker 2: How exciting all right, I need to know how far
17:46
Speaker 2: away is the wedding and where is it going to
17:49
Speaker 2: be and where are we're going on honeymoon.
17:53
Speaker 4: So our wedding is in Caserina, which is northern New
17:57
Speaker 4: South Wales, so just over the Queensland New Southwell's borders. Doneing, Yes,
18:02
Speaker 4: absolutely amazing And it was the again first venue that
18:06
Speaker 4: we looked at and we just went, this is us.
18:09
Speaker 4: Why why do we need to look anywhere else? And
18:12
Speaker 4: it's in March twenty twenty four.
18:14
Speaker 2: Our heaps of time to continue preparing.
18:17
Speaker 4: You would think so, wouldn't you, But things just well
18:20
Speaker 4: you would know from.
18:21
Speaker 2: I planned a wedding in like less than twelve months
18:24
Speaker 2: and I cannot recommend that process to even one individual,
18:28
Speaker 2: one out of ten. You absolutely need more time than that.
18:31
Speaker 2: You think a year is a long period of time,
18:33
Speaker 2: It is not. And weddings are.
18:35
Speaker 4: Expensive, definitely, And we didn't realize how expensive a wedding
18:39
Speaker 4: would be until we started the process. And I know,
18:43
Speaker 4: speaking to other people, they say, oh, yeah, I'll only
18:45
Speaker 4: spend like ten fifteen grand on a wedding, and then
18:49
Speaker 4: that becomes unrealistic.
18:51
Speaker 3: Really really quickly.
18:52
Speaker 4: Yeah, And I said to my fiance. Look, I'm comfortable
18:56
Speaker 4: in spending forty to fifty grand on our wedding. You know,
19:00
Speaker 4: it's one day that will do. I'm really excited, you know.
19:04
Speaker 4: I don't want it to be completely over the top,
19:06
Speaker 4: but I want it to be everything that we both want.
19:09
Speaker 2: Yep.
19:10
Speaker 4: And so we were now currently sitting at about fifty
19:13
Speaker 4: eight grand.
19:14
Speaker 2: Oh my gosh, it's always the way, isn't it. How
19:17
Speaker 2: did you and your partner come to a number that
19:19
Speaker 2: you were comfortable with? So obviously you said forty to
19:21
Speaker 2: fifty grand And did he go, oh my gosh, money, Daris,
19:24
Speaker 2: that's so much money, or did he go, oh, yeah,
19:26
Speaker 2: I want to spend more. Like what was that conversation?
19:28
Speaker 3: Like again, I sort of had to rain him in
19:31
Speaker 3: a little bit.
19:32
Speaker 2: I love this narrative.
19:34
Speaker 4: Yeah, so he, like I said, he's a bit bougie
19:39
Speaker 4: fancy boy. Yeah, definitely. And I had to say to him,
19:44
Speaker 4: this is what I think we could save within that time,
19:48
Speaker 4: and that's what we've sort of kept to. So we
19:51
Speaker 4: do have a wedding planner, which does increase the cost,
19:54
Speaker 4: but at the same time, she is saving us so
19:57
Speaker 4: much time and money.
19:58
Speaker 2: I was about to ask, so tell me how much
20:00
Speaker 2: your wedding planner is and then tell me how the
20:03
Speaker 2: savings go. Because I also had a wedding planner, and
20:06
Speaker 2: I think that that's something that you know, my wedding
20:08
Speaker 2: was a bit over the top, so please don't use
20:11
Speaker 2: mine as a benchmark, but the amount of money she
20:14
Speaker 2: saved us on, just like vendors and stuff, was a
20:16
Speaker 2: very worthwhile investment. So how much does a wedding planner cost?
20:19
Speaker 2: My friend?
20:21
Speaker 4: So, our wedding planner is just over five and a
20:24
Speaker 4: half grand.
20:25
Speaker 2: Wow, And how much do you think she's saved you
20:28
Speaker 2: along that journey?
20:29
Speaker 4: I would probably say she's already saved us at least
20:32
Speaker 4: five and a half grand. And that's not even including
20:35
Speaker 4: the time that we would have had to spend on
20:37
Speaker 4: doing things for the wedding, which for me is massive.
20:41
Speaker 4: You know, my fiance and I both work pretty long hours,
20:44
Speaker 4: so we don't have that time and we didn't want to.
20:48
Speaker 3: Have that stress.
20:49
Speaker 4: So that's why we thought that the wedding planner would
20:52
Speaker 4: be a good investment.
20:53
Speaker 3: Genius.
20:54
Speaker 2: I love it. I feel like a wedding planner is
20:56
Speaker 2: the second you say, oh, I've got a wedding planner,
20:58
Speaker 2: they're like oh my gosh, you must be absolutely just
21:00
Speaker 2: pouring money at this. And to be honest, I had
21:03
Speaker 2: I don't know if this is going to come as
21:05
Speaker 2: a surprise to anybody, but I did a budget on
21:07
Speaker 2: a spreadsheet and I worked out what things were going
21:10
Speaker 2: to cost and how you know, we wanted to invest
21:12
Speaker 2: in the wedding and what that would look like. And
21:14
Speaker 2: then I started talking to a number of different planners,
21:17
Speaker 2: and a lot of the time they were like, okay, cool,
21:19
Speaker 2: but we have a number of recommended vendors and if
21:21
Speaker 2: you use those vendors, you'll get like fifteen percent off,
21:24
Speaker 2: or you get twenty percent off, or they'll negotiate something different.
21:27
Speaker 2: And another thing that I found really helpful, which is
21:31
Speaker 2: absolutely money saving, but also just really smart on my
21:36
Speaker 2: planner's behalf, was that they talked me out of a
21:39
Speaker 2: lot of things that I thought I needed that I
21:41
Speaker 2: didn't need. A lot of the time she said do
21:44
Speaker 2: you really need that? Like, why are you saying we
21:46
Speaker 2: need to organize this? You don't sound excited about it.
21:49
Speaker 2: Why are we doing it? And I'd be like, oh, well,
21:51
Speaker 2: I guess we don't, and she yeah, just helped put
21:54
Speaker 2: a lot of things in a lot of perspective. That
21:57
Speaker 2: meant I made decisions that were really aligned my values.
22:00
Speaker 2: And you know, obviously it is a privilege to spend
22:03
Speaker 2: five and a half thousand dollars on a planner, because
22:06
Speaker 2: that's some people's entire wedding budgets. But if you're going
22:09
Speaker 2: to have a more expensive wedding, it would definitely be
22:11
Speaker 2: worth looking into somebody who could help you along the
22:14
Speaker 2: way because like you do, still feel in control, right,
22:17
Speaker 2: you just don't have all the stress of finding the vendors.
22:20
Speaker 4: Definitely, and I think the quality of vendors that they've
22:23
Speaker 4: found us within our price range, we wouldn't have been
22:26
Speaker 4: able to search for them ourselves.
22:29
Speaker 2: You just don't know what you don't know, No, you don't.
22:31
Speaker 4: So yeah, that's that's been really amazing. So yeah, that's
22:35
Speaker 4: our wedding planning so far. And then we just booked
22:39
Speaker 4: our honeymoon.
22:40
Speaker 2: Congrats, How exciting. Where are we going?
22:43
Speaker 3: So we were going to go.
22:44
Speaker 4: To a couple of different well we're thinking about going
22:47
Speaker 4: to a couple of different places, but we've ended up
22:50
Speaker 4: settling on Turtle Island in Fiji.
22:53
Speaker 2: Stunning. How exciting?
22:55
Speaker 4: Yeah, definitely, And again it's one of those things that
22:58
Speaker 4: we've gone. Okay, well, what can we go without in
23:01
Speaker 4: our budget to make sure that we can afford our honeymoon,
23:05
Speaker 4: but be go to something like Fiji that is for us.
23:10
Speaker 3: Yeah, once in a lifetime.
23:11
Speaker 2: I really lux and having a good time, but it's
23:13
Speaker 2: still not or a borer, which is like a thirty
23:16
Speaker 2: thousand dollar trip to begin with. I looked at it
23:19
Speaker 2: because I'd seen it all over TikTok and Instagram, and
23:21
Speaker 2: then I ran straight away because I saw the price
23:24
Speaker 2: and yep, we went to Queensland for our honeymoon. Yeah,
23:27
Speaker 2: that's where I'm at. That's where I'm at. It's all
23:29
Speaker 2: about values, though, and that's the coolest thing I guess
23:31
Speaker 2: about getting to talk to people like you. I get
23:34
Speaker 2: to understand your values and you get to understand mine,
23:37
Speaker 2: and we just get to, you know, be really open
23:39
Speaker 2: and honest about it. Obviously you wrote in and you said, look,
23:43
Speaker 2: my fiance's parents do give us money towards the house.
23:46
Speaker 2: Have they helped out with the wedding or in any
23:48
Speaker 2: other aspect of your life or is it just with
23:51
Speaker 2: the house.
23:52
Speaker 4: So it's just been with the house for us. They're
23:56
Speaker 4: the most loveliest people. My in laws, and we call
24:00
Speaker 4: our parents B one and B two because our parents
24:03
Speaker 4: are pretty similar, or we call them the parents, so yeah,
24:08
Speaker 4: they're like both sets of our parents are absolutely amazing.
24:11
Speaker 4: And my fiance's parents aren't assisting us with the wedding
24:15
Speaker 4: at all. Obviously the ability for them to contribute to
24:18
Speaker 4: our deposit has been more than enough of a gift.
24:22
Speaker 4: So we haven't asked or wanted, I guess assistance in
24:26
Speaker 4: terms of paying for the wedding or the honeymoon.
24:28
Speaker 2: No, that makes absolute sense. It's always just super pervy
24:31
Speaker 2: to ask my friend. All right, let's go to a
24:34
Speaker 2: really quick break because I have a whole heap of questions.
24:37
Speaker 2: Right after this, all right, money diarist, we are back,
24:44
Speaker 2: and I want to ask even more questions. First things, First,
24:48
Speaker 2: do you invest? If so, what do you currently invest in?
24:51
Speaker 4: So we don't actually have any investments? Or sorry, we
24:54
Speaker 4: just bought five hundred dollars worth of shares.
24:57
Speaker 2: So you do have investments, my friends, and you have.
25:00
Speaker 3: Super yeah sorry, yeah, actually she's.
25:03
Speaker 2: An investing queen and she didn't even know it.
25:06
Speaker 4: I do have Super, so I have I think I
25:09
Speaker 4: have about sixty five thousand dollars.
25:12
Speaker 2: In Super oh, that is epic for your age.
25:15
Speaker 3: Epic.
25:16
Speaker 4: I didn't actually think so, but then I started to,
25:19
Speaker 4: I guess.
25:20
Speaker 3: I googled the average yes super.
25:22
Speaker 2: For my age, and what did it tell you?
25:24
Speaker 4: It said it was half of that, so, which blows.
25:27
Speaker 2: My mind exactly. And so you are doing really well.
25:30
Speaker 2: It's sometimes really not. And I mean I talk all
25:33
Speaker 2: the time about putting some blinkers on and you know,
25:35
Speaker 2: not comparing yourselves to others because it doesn't really help.
25:39
Speaker 2: But something that does genuinely help me is benchmarking. Like
25:42
Speaker 2: I want to know technically, if we look at the average,
25:46
Speaker 2: where am I meant to be for my age? So
25:48
Speaker 2: money drives how old are you?
25:50
Speaker 3: I am thirty one?
25:51
Speaker 2: She a baby. So the average amount of SUPER for
25:55
Speaker 2: a woman between the age of thirty and thirty for
25:58
Speaker 2: my friends is forty two thousand, two hundred and forty dollars.
26:02
Speaker 2: That is obviously still a lot of money. And if
26:05
Speaker 2: you're sitting on that or below that, like I wouldn't
26:06
Speaker 2: worry too much you're still so young. It just means
26:09
Speaker 2: we need to have a think about what that looks
26:10
Speaker 2: like in your future. But what did you feel like
26:13
Speaker 2: when you're like, oh, the Benjmark actually says that I'm ahead.
26:17
Speaker 4: I think it was like a realization that it made
26:20
Speaker 4: me actually investigated a little bit more because I went, Okay,
26:23
Speaker 4: so if I'm let's just say I want to retire
26:26
Speaker 4: at sixty, then I only have twenty nine years to
26:31
Speaker 4: do that. And it's already been ten years of my
26:33
Speaker 4: working life that I only got sixty. So how on
26:37
Speaker 4: earth am I going to get a couple of hundred
26:40
Speaker 4: more thousand or or whatever it is that you need
26:43
Speaker 4: to get to retire. So that made me think a
26:48
Speaker 4: little bit more about investment.
26:50
Speaker 2: Yeahh And I mean, I want to say you're a
26:52
Speaker 2: baby still because like you are so young. But ultimately
26:56
Speaker 2: most people and most women, they retire with less than
26:59
Speaker 2: three hundre hundred thousand dollars in their superannuation accounts. And
27:03
Speaker 2: if we looked at yours, right, if we looked at
27:06
Speaker 2: sixty five thousand dollars, and I'm just using a simple
27:08
Speaker 2: compound interest calculator, if you didn't contribute anything to your
27:12
Speaker 2: super for the foreseeable future, and in thirty years you
27:15
Speaker 2: looked at it, your super would actually grow to a
27:17
Speaker 2: total of about six hundred and thirteen thousand dollars. So
27:20
Speaker 2: even having sixty five thousand dollars in it right now
27:23
Speaker 2: puts you so ahead of the game and like literally
27:26
Speaker 2: in a position where you're going to have double what
27:27
Speaker 2: the average female retires with now. But we know that
27:31
Speaker 2: you're going to contribute to that for you know, probably
27:33
Speaker 2: the next thirty years, and that's going to put you
27:35
Speaker 2: in such a good position. Like on your actual income,
27:39
Speaker 2: we know that you're on about what you said, one
27:42
Speaker 2: hundred and ten to one hundred and twenty thousand dollars.
27:44
Speaker 2: So let's say conservatively every single year you're adding at
27:47
Speaker 2: least ten thousand dollars to SUPER. You're going to end
27:50
Speaker 2: up with you know, obviously a significant amount of money.
27:53
Speaker 2: But if we are compounding sixty five thousand dollars with
27:57
Speaker 2: a regular contribution of ten thousand dollars annually, you're looking
28:00
Speaker 2: at having one point six million dollars in SUPER when
28:03
Speaker 2: you retire. My friend, that's good money.
28:06
Speaker 3: That does sound pretty good.
28:07
Speaker 4: And I guess that's just mine too, like excityancee. Yeah,
28:11
Speaker 4: by the time, well we'll be husband and wife by them,
28:14
Speaker 4: but you know, adding his as well, or which would be.
28:17
Speaker 2: Yeah, amazing. I'm obsessed with it. I think they're just
28:20
Speaker 2: doing the numbers can make you feel relatively secure, So
28:24
Speaker 2: obviously you didn't think it was that good, and then
28:25
Speaker 2: when we extrapolated it out, we're like, holy moly, that
28:28
Speaker 2: is actually really good and puts you in such a
28:30
Speaker 2: good position. I want to know, you mentioned before I'm
28:34
Speaker 2: not really you know, investing, but we just bought our
28:37
Speaker 2: first shares. How did you buy your first shares? Why
28:40
Speaker 2: did you make that decision, and what made you feel
28:42
Speaker 2: super comfortable to do that.
28:44
Speaker 4: So it actually is a little bit of an interesting story.
28:48
Speaker 4: We invested five hundred dollars, which was the minimum you
28:51
Speaker 4: could invest, but we invested it into shares in a
28:55
Speaker 4: platform called.
28:56
Speaker 2: Gabba mm hm.
28:57
Speaker 4: Now it's like the Uber of private catering. I guess
29:00
Speaker 4: this is the best way to explain it. But I
29:02
Speaker 4: actually met the founder when I was at university and
29:06
Speaker 4: I interviewed her for my entrepreneurship subject, and I just
29:10
Speaker 4: fell in love with her concepts so much, and I've
29:13
Speaker 4: used the company a few times that I went, this
29:17
Speaker 4: is such a great idea. And then when shares opened,
29:19
Speaker 4: I went, you know what, five hundred bucks Like she's
29:22
Speaker 4: just expanded to the US, like cool. It just seems
29:26
Speaker 4: like such an awesome organization. So that's how we invested.
29:32
Speaker 4: I know it's a bit of a weird one, but no.
29:34
Speaker 2: It's why we ask these questions because everyone has a
29:37
Speaker 2: different journey, everyone has a different thought process. And I'm
29:40
Speaker 2: just so grateful that I get let in on like
29:42
Speaker 2: how did you make your decision? What does this look like?
29:44
Speaker 2: And you're just like, oh my gosh, I'm so passionate
29:46
Speaker 2: about this. I looked into this like that's information that
29:49
Speaker 2: we wouldn't have got anywhere else. Thank you. How cool?
29:52
Speaker 4: Yeah, and I have set up a Shares's account, I
29:56
Speaker 4: just haven't like delved into it yet.
29:58
Speaker 2: How exciting you're the start of your journey money, darrist.
30:02
Speaker 2: I want to ask now that debt. So you've recently
30:05
Speaker 2: purchased your dream home, which is so exciting. How much
30:09
Speaker 2: debt do you have and what is it? How is
30:11
Speaker 2: it broken down?
30:13
Speaker 4: So I actually just sold my investment property so as
30:17
Speaker 4: of last week.
30:18
Speaker 2: Oh my gosh, I didn't even know you have one
30:20
Speaker 2: that's baller for a baby.
30:23
Speaker 4: So that was my first house that I bought when
30:25
Speaker 4: I was twenty five living in Queensland.
30:28
Speaker 3: I bought it for incredibly cheap.
30:29
Speaker 4: So I bought it for like two ninety yeah, when
30:32
Speaker 4: I was twenty five, and then I recently just sold
30:35
Speaker 4: it for three seventy.
30:37
Speaker 2: Oh my gosh, did you actually how exciting? What's the
30:40
Speaker 2: profit look like on that?
30:42
Speaker 3: So that was just over one hundred grand in that?
30:45
Speaker 2: Gosh? And how many years did you hold that for? Like?
30:48
Speaker 3: Seven? So?
30:49
Speaker 2: Oh my gosh? So seven years did you live in
30:52
Speaker 2: the property?
30:52
Speaker 3: I did?
30:53
Speaker 2: So you didn't even have to pay capital gains tax
30:55
Speaker 2: on that one hundred grand?
30:57
Speaker 4: No, So it was always my principal place of reddence.
31:00
Speaker 4: I guess like I did move out, but in saying that,
31:04
Speaker 4: I never owned another property at that time.
31:06
Speaker 2: So smart. I love this. It's so pervy. What have
31:10
Speaker 2: you done with that one hundred grand?
31:12
Speaker 4: So it is just sitting in my bank account at
31:15
Speaker 4: the moment. Obviously some has gone.
31:17
Speaker 2: To is it in an offset account to your mortgage?
31:20
Speaker 4: When we set up this mortgage for our new home,
31:23
Speaker 4: we went on fixed and that was purely because it
31:26
Speaker 4: was so turbulent.
31:28
Speaker 2: Good decision to have made, my friend, Yeah.
31:30
Speaker 4: And we're really lucky we did that because otherwise we'd
31:33
Speaker 4: be looking at, you know, five six plus interest rates
31:37
Speaker 4: on our current mortgage, whereas we're sitting in the fours still.
31:40
Speaker 2: Yeah, smart, When will that rate expire? Like when you're
31:43
Speaker 2: going to have to make another decision about your mortgage.
31:46
Speaker 3: So it'll be in March twenty twenty four, which.
31:48
Speaker 2: Bad month for it because you're getting married. Are you
31:51
Speaker 2: also going to get slapped with an interest rate hike?
31:53
Speaker 2: We don't know yet.
31:54
Speaker 3: We don't know yet, do we.
31:55
Speaker 4: So that's going to be interesting for us. But it
31:58
Speaker 4: works really well at the moment because while we're saving
32:00
Speaker 4: for our wedding, we don't need to worry about the
32:03
Speaker 4: interest rate rises.
32:04
Speaker 2: Yeah, that's really helpful.
32:06
Speaker 4: And all of that money that we've got from the
32:08
Speaker 4: profit of the sale is sitting in a high interest
32:12
Speaker 4: savings account, so.
32:14
Speaker 2: She's working hard.
32:15
Speaker 3: We like this.
32:16
Speaker 2: Okay, So when you wrote into us, you explained to
32:19
Speaker 2: us that your fiance's parents give you money towards the house.
32:21
Speaker 2: I want to know how much money did they actually
32:24
Speaker 2: give you and tell us about this house purchase, like,
32:26
Speaker 2: how much was it, how much of a deposit did
32:28
Speaker 2: you have? What did that actually look like in reality?
32:32
Speaker 4: Yeah, so we purchased the house for seven hundred and
32:35
Speaker 4: five thousand, and we received two hundred thousand from my
32:42
Speaker 4: fiance's parents, which obviously is money that we are paying
32:46
Speaker 4: back to them, just interest free.
32:49
Speaker 2: So how good. So have you got a payment plan
32:52
Speaker 2: with them to do that or is this at some
32:54
Speaker 2: point in the future or what did that look like?
32:56
Speaker 2: Did you have to sign a contract?
32:59
Speaker 4: We did, So we did it all legitimately. We got
33:01
Speaker 4: a contract drawn up and we got solicitors to sign
33:05
Speaker 4: it and to review it, just so that if anything
33:08
Speaker 4: was to ever happen, that we're all covered. Yeah, and
33:11
Speaker 4: I think that's really important. Obviously we don't like to
33:13
Speaker 4: think about what could happen because we don't think it could,
33:17
Speaker 4: but it's just there to protect everyone just in case
33:20
Speaker 4: it does.
33:21
Speaker 2: I like that. I always used to say to my
33:23
Speaker 2: clients who are in similar situations, let's plan for the worst,
33:26
Speaker 2: but expect the best. Like let's pretend that the worst
33:29
Speaker 2: might happen and actually just plan for it, but like,
33:32
Speaker 2: we don't want it to happen. So I think that
33:34
Speaker 2: that's the best thing that you could have done. So
33:36
Speaker 2: I'm assuming then your mortgage is around five hundred and
33:38
Speaker 2: five thousand dollars.
33:39
Speaker 3: Then yeah, correct, it is?
33:42
Speaker 2: Yeah, And are you being aggressive in paying that off
33:44
Speaker 2: or are we just doing the minimum? Like what's the plan?
33:47
Speaker 1: Like?
33:47
Speaker 2: How much are we paying back on this two hundred
33:49
Speaker 2: thousand dollars versus this five hundred thousand dollars mortgage? Where
33:52
Speaker 2: are the priorities at?
33:53
Speaker 4: So the two hundred thousand we pay back, I think
33:57
Speaker 4: it's like one hundred and eighteen dollars a week or
33:59
Speaker 4: something on the two hundred thousand, and then our mortgage repayments,
34:06
Speaker 4: I think they're like about I can't remember right now,
34:09
Speaker 4: but I think they're about six hundred a week, No,
34:13
Speaker 4: seven hundred a week.
34:14
Speaker 2: That feels about right. I feel like that's really exciting.
34:16
Speaker 2: So with your calculations, how long will it take to
34:19
Speaker 2: pay back that? I guess two hundred thousand dollars alone
34:22
Speaker 2: from the in laws.
34:24
Speaker 4: So it's a bit of a funny one because we
34:27
Speaker 4: put it over the same timeframe as our mortgage that
34:30
Speaker 4: it was good at, while we did put it over
34:33
Speaker 4: thirty years. Jokingly, obviously, my in laws have said, oh, well,
34:40
Speaker 4: you know, the day after you pay that back, then
34:42
Speaker 4: you know we'll probably cark it or something, but not before.
34:46
Speaker 4: So yeah, it's it's a bit of a joke between them.
34:49
Speaker 4: But we're obviously willing to pay more of that back
34:51
Speaker 4: as well after we've finished saving for the wedding.
34:54
Speaker 2: So I'm glad you have that flexibility. Are there any
34:57
Speaker 2: other debts that you or your partner hold?
35:00
Speaker 1: No?
35:00
Speaker 3: Nothing else that is it really good debt? Yeah.
35:05
Speaker 4: We recently got credit cards to get the points for
35:08
Speaker 4: our honeymoon, which is fantastic because we got our flights
35:12
Speaker 4: to Fiji return in business class for no money.
35:16
Speaker 3: We didn't have to.
35:16
Speaker 2: Pay a sex I feel like this is what I
35:19
Speaker 2: need to get on. Obviously, I've done episodes on this
35:22
Speaker 2: show of how to points Hack, but I don't do
35:24
Speaker 2: it because I just haven't trusted myself with a credit
35:27
Speaker 2: card yet, because like she's spendy, like I'm a bit spendy,
35:30
Speaker 2: and I just don't know how i'd feel with a
35:32
Speaker 2: credit card. I just can see it being a really
35:34
Speaker 2: bad idea. But then I hear stories like this, I'm like,
35:36
Speaker 2: maybe I should, but maybe I should also talk myself
35:38
Speaker 2: out of it, because business class flights are not worth
35:41
Speaker 2: my future wealth, so who knows? Who knows?
35:45
Speaker 4: Well, we did get rid of the credit cards, so
35:47
Speaker 4: as soon as we got the points and had the
35:49
Speaker 4: minimum period of which we needed to keep the credit
35:52
Speaker 4: cards for we have got rid of them, so that's gone.
35:56
Speaker 2: You're so smart.
35:56
Speaker 3: I love this.
35:57
Speaker 2: Maybe I should do it that way.
35:58
Speaker 1: Then.
35:59
Speaker 2: Look, I'll look into this later and share on social
36:01
Speaker 2: media what I get up to money diarist, I feel
36:04
Speaker 2: like you might have some good tips to share. What
36:06
Speaker 2: is your best money habit? Do you think?
36:09
Speaker 1: So?
36:09
Speaker 4: It's I take after my dad with this one. And
36:12
Speaker 4: it's price checking. So whether it's at the grocery store
36:17
Speaker 4: and I'm holding up, you know, two lots of rice
36:20
Speaker 4: and I'm going, okay, per one hundred grams, this one's
36:23
Speaker 4: cheaper than this one.
36:24
Speaker 2: Good money habit to have. I feel very good because
36:27
Speaker 2: I don't do that. I'm just lazy and I want
36:29
Speaker 2: to get out of that supermarket. It is overstimulating and
36:32
Speaker 2: I have to leave definitely.
36:34
Speaker 4: And I guess that's now extended to so we use
36:38
Speaker 4: like cash back programs or I look at cash back
36:41
Speaker 4: programs before I purchase something to know if I buy
36:45
Speaker 4: it in the store and I don't get the cash back,
36:47
Speaker 4: verse I buy it online and I get the cash back.
36:49
Speaker 2: I am so good at that. That's also my money habit.
36:52
Speaker 2: And then I get real salty about having to wait
36:55
Speaker 2: for it, because I know if I just went to
36:56
Speaker 2: may Or, I could pick it up. But if I
36:57
Speaker 2: got it online, I'd get an extra like four or
36:59
Speaker 2: five percent back, and that's worth it. So then I
37:02
Speaker 2: sit there and I'm like, oh, I'm waiting for this package.
37:04
Speaker 2: But like, I'm quite impulsive, So then the yeah, it's
37:07
Speaker 2: a very fun process for me, but I'm doing the right.
37:09
Speaker 4: Thing, definitely, And I think that's what then leads me
37:13
Speaker 4: into my worst money habit.
37:14
Speaker 2: Oh yeah, what is it?
37:16
Speaker 4: I think I'm very much like UV and I can't
37:18
Speaker 4: I don't put enough time or I forget to put
37:21
Speaker 4: enough time between purchasing or like thinking about purchasing something
37:25
Speaker 4: and then actually purchasing it. So I sometimes go out
37:28
Speaker 4: on a bit of a whim and I'm like, ooh,
37:30
Speaker 4: I love that dress, let me just buy it now,
37:32
Speaker 4: And then I buy it, and then I go.
37:34
Speaker 3: Oh, should I really need that?
37:37
Speaker 2: Yeah? Yeah, I know I'm a bit impulsive. And when
37:39
Speaker 2: I say a bit, I mean a lot, which is
37:41
Speaker 2: why I'm always telling you guys, put twenty four hours
37:44
Speaker 2: between you and your spending. And I do that because
37:46
Speaker 2: it's like a consistent reminder to me that I need
37:48
Speaker 2: to do that. Like if you guys think I'm really
37:50
Speaker 2: good at money, like I'm sorry, we're a bit wrong.
37:52
Speaker 2: So do as I say, not as I do, kind
37:54
Speaker 2: of show you know.
37:56
Speaker 3: Yeah, definitely, And I think that's like I'm trying to
37:59
Speaker 3: do that and I'm trying to get better at that.
38:02
Speaker 4: And it's really funny because my fiance is he's really
38:07
Speaker 4: good at doing that, but then he will just buy
38:11
Speaker 4: it and heat.
38:12
Speaker 2: Yeah, babe, I did think about this. We're still doing this.
38:16
Speaker 2: I like that he's got conviction. That is a very
38:18
Speaker 2: attractive quality. I believe. Yeah, definitely, No, we like him
38:23
Speaker 2: money darist. Now that we've had a really good conversation
38:27
Speaker 2: at the start of this episode, you said, oh, I
38:29
Speaker 2: think I'm a C plus or like a B minus minus.
38:33
Speaker 2: We talked about you. You have sold your investment property,
38:36
Speaker 2: you made a really good profit on that. You've just
38:38
Speaker 2: bought your dream home, You've just started investing. You know,
38:41
Speaker 2: you're saving for your wedding. You are doing so many
38:44
Speaker 2: different things. Do you think that that grade is reflective
38:47
Speaker 2: of where you are at after having this conversation, I would.
38:50
Speaker 4: Say probably it would improve in them, like maybe improve
38:55
Speaker 4: a little bit maybe to like a B.
38:58
Speaker 2: We'll call your bee. Why would you say it's improved
39:01
Speaker 2: after our conversation.
39:03
Speaker 4: I think knowing that I'm doing the right things in
39:06
Speaker 4: terms of investing, or I'm on the right track for investing,
39:10
Speaker 4: is a good thing. And I guess thinking about it,
39:13
Speaker 4: you know, I have no other debt and.
39:15
Speaker 2: That that's very sexy.
39:17
Speaker 1: Yeah.
39:17
Speaker 4: Yeah, And I think if you'd spoken to me, you know,
39:20
Speaker 4: five years ago, and I did have a lot of debt,
39:23
Speaker 4: that would be a very different like me, I guess.
39:26
Speaker 4: So the position that I'm in now is really different.
39:30
Speaker 4: And you know that's a contribution of my fiance's parents
39:34
Speaker 4: helping us out. It's a contribution of us saving our
39:38
Speaker 4: money really well and living not beyond our means.
39:42
Speaker 3: Yeah. So I think a B on my way to
39:44
Speaker 3: a B plus.
39:46
Speaker 2: He well, that is what do you think it would
39:48
Speaker 2: take to get you to an A plus?
39:50
Speaker 4: Probably delving more into where to put all my savings
39:56
Speaker 4: so like working on Yeah, utilizing that savings money a
40:00
Speaker 4: little bit better, whether it be you know, in a
40:03
Speaker 4: high interest savings account, or whether it be into further
40:07
Speaker 4: investments for like long term strategy.
40:10
Speaker 2: How good, Oh my gosh, money Darist. I have loved
40:13
Speaker 2: talking to you. I feel like it's been really relatable
40:16
Speaker 2: but also super interesting to I guess hear a bit
40:19
Speaker 2: about how you borrowed money and then what that looked
40:22
Speaker 2: like from your in laws without you know, destroying a
40:25
Speaker 2: relationship or you know, making sure that we're planning for
40:27
Speaker 2: the worst but expecting for the best. I think it's
40:29
Speaker 2: just such an important conversation that we need to be
40:32
Speaker 2: having more transparently, more often. So thank you for sharing that.
40:36
Speaker 2: It has been an absolute privilege.
40:39
Speaker 4: Thank you for having me. Yeah, I've really enjoyed it.
40:41
Speaker 4: And I think if we can just sort of get
40:44
Speaker 4: rid of the stigma of using mom and dad or
40:47
Speaker 4: using relatives for assistance, if they're more than willing to help,
40:52
Speaker 4: then yeah, I think that's that's a good thing for us.
40:55
Speaker 2: I love that. I think, to me, the most important
40:57
Speaker 2: thing when going through circin stances like this is just
41:01
Speaker 2: acknowledging privilege. I think being able to have these conversations
41:04
Speaker 2: is great, but it's not the expectation that these things happen.
41:07
Speaker 2: So I think what I've loved most is you going,
41:09
Speaker 2: oh my gosh, it's been an absolute privilege. I'm so grateful,
41:12
Speaker 2: and to me, that's kind of what changes the narrative.
41:16
Speaker 2: It's a very different circumstance than being like, well, my
41:19
Speaker 2: parents are rich, so they should help me. Like, I
41:21
Speaker 2: think it's a very you know, different and very She's
41:25
Speaker 2: on the Money way of approaching things. So yeah, I'm
41:28
Speaker 2: just really super grateful to be able to share this
41:30
Speaker 2: on the pod, and I know that lots of people
41:32
Speaker 2: will either feel better about their circumstances or just learn
41:35
Speaker 2: a bit more about how the world works and that's
41:38
Speaker 2: exactly why we exist.
41:39
Speaker 3: Yeah, thank you so much.
41:47
Speaker 2: The advice shared on She's on the Money is general
41:50
Speaker 2: in nature and does not consider your individual circumstances. She's
41:54
Speaker 2: on the Money exists purely for educational purposes and should
41:57
Speaker 2: not be relied upon to make an investment or financial decision.
42:01
Speaker 2: If you do choose to buy a financial product, read
42:03
Speaker 2: the PDS TMD and obtain appropriate financial advice tailored towards
42:07
Speaker 2: your needs. Victoria Divine and She's on the Money are
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