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MONEY DIARIES: She's Self Taught, Self Starting and Smashing It! · She's On The Money

• 0:00
  Speaker 1: Hello.
• 0:01
  Speaker 2: My name's Santasha Nabananga Bamblet. I'm a proud your the
• 0:05
  Speaker 2: Order Kerni Whalbury and a waddery woman. And before we
• 0:08
  Speaker 2: get started on She's on the Money podcast, I would
• 0:11
  Speaker 2: like to acknowledge the traditional custodians of the land of
• 0:14
  Speaker 2: which this podcast is recorded on a wondery country, acknowledging
• 0:18
  Speaker 2: the elders, the ancestors and the next generation coming through
• 0:23
  Speaker 2: as this podcast is about connecting, empowering, knowledge sharing and
• 0:27
  Speaker 2: the storytelling of you to make a difference for today
• 0:31
  Speaker 2: and lasting impact for tomorrow.
• 0:33
  Speaker 1: Let's get into it.
• 0:34
  Speaker 3: She's on the Money, She's on the Money.
• 0:57
  Speaker 4: Hello, and welcome to She's on the Money Podcast, Millennials
• 1:01
  Speaker 4: who want financial freedom. Welcome back to another Shopback Money
• 1:05
  Speaker 4: Diary Monday, where we get to chat to one of
• 1:07
  Speaker 4: our beautiful community members to learn all about them and
• 1:09
  Speaker 4: their story and their life and all of the little
• 1:12
  Speaker 4: bits and pieces in between. Victoria, Hello, how are you going.
• 1:17
  Speaker 4: I'm very excited for this one. I'm glad to hear
• 1:19
  Speaker 4: it because I think it's going to be a goodie.
• 1:21
  Speaker 4: Let me tell you all about our diarist. She said,
• 1:24
  Speaker 4: I grew up with a single Mum, who gave me
• 1:26
  Speaker 4: everything I needed or wanted. Mom didn't have assets to
• 1:29
  Speaker 4: her own name and was lucky to have married someone
• 1:31
  Speaker 4: who did. I decided I didn't want to have to
• 1:33
  Speaker 4: rely on a partner. I bought my first house, which
• 1:36
  Speaker 4: I now rent to my grandparents, who have had a
• 1:39
  Speaker 4: really tough financial journey. My second property was bought with
• 1:42
  Speaker 4: the equity from my first. Everything I have worked for myself,
• 1:46
  Speaker 4: and I have started my investment journey. I've listened to
• 1:49
  Speaker 4: every episode of the pod, and my partner, who is
• 1:51
  Speaker 4: in an associate financial advisor, is super impressed with how
• 1:54
  Speaker 4: much knowledge I've acquired. I can't wait to share my
• 1:56
  Speaker 4: story with the community.
• 1:58
  Speaker 3: Oh my gosh, associate financially advise a girlfriend? You were
• 2:01
  Speaker 3: doing well?
• 2:03
  Speaker 5: He's pretty good.
• 2:05
  Speaker 3: Oh, welcome to the show. I am so excited about
• 2:08
  Speaker 3: your story. You sound this is gonna sound obviously I
• 2:11
  Speaker 3: haven't gotten to know you yet, but like you just
• 2:12
  Speaker 3: sound so wholesome, Like I'm leasing my property to my grandparents.
• 2:16
  Speaker 1: Like that's the best ever. So money darist? Is it okay?
• 2:19
  Speaker 1: If we just jumped straight in?
• 2:21
  Speaker 5: Sure?
• 2:22
  Speaker 1: All right? The first question I.
• 2:23
  Speaker 3: Have for you, as always is can you tell us
• 2:26
  Speaker 3: a little bit about your money story.
• 2:29
  Speaker 6: Yeah, of course, So I grew up with a single
• 2:31
  Speaker 6: mum always had what I needed and more. I remember
• 2:34
  Speaker 6: when I was young, before I was old enough to
• 2:36
  Speaker 6: get a job, I desperately wanted one so bad, so
• 2:39
  Speaker 6: as soon as I was old enough, I did.
• 2:41
  Speaker 5: From then on, I was very independent with my money.
• 2:43
  Speaker 6: I never asked my mom for money or borrowed or
• 2:46
  Speaker 6: anything like that. However, when I was in my teenage years,
• 2:50
  Speaker 6: my mum got married to a man who I had
• 2:53
  Speaker 6: very different values with, but he was already set up financially,
• 2:56
  Speaker 6: I suppose, so she was quite lucky in that aspect.
• 3:00
  Speaker 6: But when I was sixteen, for my mental health, I
• 3:02
  Speaker 6: had to move in with my grandparents, and also my
• 3:06
  Speaker 6: grandparents whilst they were married, they were only together for
• 3:10
  Speaker 6: the convenience, so I suppose they're part of the reasons
• 3:13
  Speaker 6: why I wanted to make sure that I was financially
• 3:15
  Speaker 6: set up myself before meeting a partner, so that if
• 3:18
  Speaker 6: I was ever in a situation, in an unhappy situation
• 3:22
  Speaker 6: or whatever, that I always had myself to fall back on.
• 3:24
  Speaker 6: And I guess that's part of the reason why she's
• 3:26
  Speaker 6: on the money has been such a very exciting thing
• 3:29
  Speaker 6: for me to find.
• 3:31
  Speaker 3: Oh, I've got so many questions about that, but jessel
• 3:34
  Speaker 3: jump down my throat if I try and ask them. Now.
• 3:36
  Speaker 3: So next question, I want to know what do you
• 3:39
  Speaker 3: do for work and how much money do you earn?
• 3:42
  Speaker 5: Yes?
• 3:43
  Speaker 6: So I am a sales manager for a chocolate company
• 3:46
  Speaker 6: and dream job. Yeah, it's pretty pretty good. We've got
• 3:50
  Speaker 6: some pretty good things that we sell and I earned
• 3:52
  Speaker 6: seventy five K plus.
• 3:53
  Speaker 5: Super and I also have a company car with.
• 3:56
  Speaker 1: That to sell chocolates. Turn out of ten. Let me
• 3:59
  Speaker 1: know when you're next hiring.
• 4:00
  Speaker 3: I am in my friend all right, I want to
• 4:04
  Speaker 3: know next what is currently your big money goal?
• 4:08
  Speaker 6: So now I'm pretty much just trying to get myself
• 4:11
  Speaker 6: set up to be financially free, to be set up
• 4:13
  Speaker 6: for retirement.
• 4:14
  Speaker 3: I suppose smart and to be a little bit pervy.
• 4:18
  Speaker 3: What steps are you taking for that? Are we, you know,
• 4:21
  Speaker 3: working towards it in terms of just like aspirationally or
• 4:24
  Speaker 3: are you investing or are you you know, loading up.
• 4:27
  Speaker 1: Your super What does that look like?
• 4:29
  Speaker 6: So I already have an investment property and me and
• 4:32
  Speaker 6: my partner just bought our next one, which we've just
• 4:35
  Speaker 6: moved into and I have started trying to invest in
• 4:39
  Speaker 6: shares so in the early days of that, but I
• 4:41
  Speaker 6: would like to invest more at shares.
• 4:44
  Speaker 3: Oh, I thought you might say that. That is the
• 4:46
  Speaker 3: next question on our list. What do you currently invest in?
• 4:49
  Speaker 1: My love?
• 4:50
  Speaker 6: Yes, so I have investment property which my grandparents are
• 4:53
  Speaker 6: living in the house that I've got. Now I've got
• 4:57
  Speaker 6: quite a decent super because I worked as soon as
• 4:59
  Speaker 6: I I started fourteen I suppose for my age, and
• 5:02
  Speaker 6: then I got three thousand dollars in comseck, which I've
• 5:05
  Speaker 6: just started.
• 5:06
  Speaker 1: Oh, very cool. How did you choose com Seck?
• 5:09
  Speaker 2: Like?
• 5:09
  Speaker 1: Why that platform? Where did that come from?
• 5:11
  Speaker 6: As mentioned, my partner is an associate financial advisor, so
• 5:15
  Speaker 6: I guess he sort of steered me in that direction,
• 5:18
  Speaker 6: and also hearing it about on the podcast sort of
• 5:20
  Speaker 6: made sense for me.
• 5:21
  Speaker 3: I had a sneaky suspicion you might be like, well,
• 5:24
  Speaker 3: my partner, and I was like, so pervy to know
• 5:26
  Speaker 3: if he was involved in your investment decisions or not,
• 5:29
  Speaker 3: because you know, you best believe I'm quite in depth
• 5:33
  Speaker 3: with Steves. Yeah, all right, I want to know next question,
• 5:38
  Speaker 3: do you currently have any debt?
• 5:40
  Speaker 1: If so, what is it and how much do you have.
• 5:42
  Speaker 6: Yes, so I have three hundred and forty K on
• 5:46
  Speaker 6: my investment property, and then seven hundred and.
• 5:49
  Speaker 5: Fifty k on the house that I bought with my.
• 5:51
  Speaker 6: Partner, which we share. So my investment property is mine solely,
• 5:56
  Speaker 6: and then the one that we're living in now is
• 5:58
  Speaker 6: our shared one.
• 5:59
  Speaker 5: And that is it.
• 6:00
  Speaker 1: I love it.
• 6:01
  Speaker 3: Queen behavior. Tell me a little bit more about these debts.
• 6:04
  Speaker 3: I want to know what are the properties worth, because
• 6:06
  Speaker 3: it's a different story if you're like I OWE seven
• 6:09
  Speaker 3: hundred grand, and you know we only recently bought it.
• 6:11
  Speaker 3: To I OW seven hundred grand, I bought it for
• 6:12
  Speaker 3: five million dollars. Like those two situations quite different. I
• 6:15
  Speaker 3: would like still more detail, my friend.
• 6:17
  Speaker 6: Yes, so my investment property is probably worth about six
• 6:21
  Speaker 6: hundred to six hundred and forty thousands, so only oh,
• 6:24
  Speaker 6: three hundred and forty thousand on that, and then on
• 6:28
  Speaker 6: the one that we've just bought, we bought for seven
• 6:30
  Speaker 6: hundred and thirty five. We also use the equity in
• 6:33
  Speaker 6: my first property to buy this one.
• 6:37
  Speaker 1: Very cool, all right.
• 6:38
  Speaker 3: Next question I have is more along the shopping line.
• 6:42
  Speaker 1: Do you currently use shot back?
• 6:44
  Speaker 5: Yes? I do, I currently have. I think about ninety dollars.
• 6:47
  Speaker 3: Pending ninety bucks. That's a lot of cash. Older, I
• 6:52
  Speaker 3: like that. What have you been buying to save that up?
• 6:54
  Speaker 6: When we moved, we bought a new outdoor set and
• 6:56
  Speaker 6: a dining table from Freedom, So I think I got
• 6:59
  Speaker 6: about sixty seven dollars back just on that, which was good.
• 7:04
  Speaker 3: Yet that's actually so good. Sixty seven dollars. That's like
• 7:07
  Speaker 3: all the throw cushions or something like. That's so good.
• 7:11
  Speaker 5: And I got one hundred and fifty dollars gift card
• 7:13
  Speaker 5: from Freedom as well for buying that. So Oh booked
• 7:16
  Speaker 5: out very nice.
• 7:17
  Speaker 1: Free cushions for everybody. We love to see it.
• 7:20
  Speaker 3: Next question I've got, I want to know what is
• 7:22
  Speaker 3: your best money habit?
• 7:24
  Speaker 2: Ah?
• 7:25
  Speaker 6: Yes, I pretty much refuse to buy anything unless it's
• 7:27
  Speaker 6: on special. If I can't find a discount code online,
• 7:30
  Speaker 6: I will find one Otherwise shot back will be my fallback.
• 7:33
  Speaker 6: And I'm pretty much the same when I do groceries.
• 7:36
  Speaker 6: If it's not on special at Coals one week, I
• 7:38
  Speaker 6: know it, we'll be on special at WLLL worst that
• 7:40
  Speaker 6: same week, or I switch it around, depending.
• 7:43
  Speaker 1: But Yeah, she's smart. I love it.
• 7:45
  Speaker 3: Let's flip the narrative though, what do you think your
• 7:48
  Speaker 3: worst money habit is.
• 7:50
  Speaker 6: I believe that my taste is probably a little bit
• 7:53
  Speaker 6: more expensive than my budget, so sometimes I will splurge
• 7:57
  Speaker 6: a little bit here and there. I think I got
• 8:00
  Speaker 6: the mindset of splurging once I bought my first house.
• 8:03
  Speaker 6: I was like, yes, I have a house. I can
• 8:05
  Speaker 6: go and do whatever I want now with my money.
• 8:07
  Speaker 6: But I've soon realized that just having an investment property
• 8:11
  Speaker 6: doesn't necessarily mean I'm set up just.
• 8:14
  Speaker 5: Because of that.
• 8:15
  Speaker 6: So I'm starting to rein it back in now that
• 8:18
  Speaker 6: I finally have a house that I can live in myself.
• 8:21
  Speaker 3: I feel like we need to go through that period though,
• 8:23
  Speaker 3: to learn like what your breadths are and what.
• 8:25
  Speaker 1: That actually means.
• 8:26
  Speaker 3: And I mean, you've clearly learned from it, so I
• 8:28
  Speaker 3: don't think it's a bad thing. It's just part of
• 8:30
  Speaker 3: your journey, right, Yeah, all right, And last question before
• 8:33
  Speaker 3: we go to a really quick break and I can
• 8:35
  Speaker 3: dive into even more nitty gritty, is if we asked
• 8:38
  Speaker 3: you to give yourself a money grade, what would that
• 8:40
  Speaker 3: grade be?
• 8:41
  Speaker 6: I think I would give myself a B or a
• 8:43
  Speaker 6: B plus. So I think I have all the tools
• 8:46
  Speaker 6: that I need to be able to set myself up.
• 8:48
  Speaker 6: It's basically just implementing them and continuing to stay like that.
• 8:54
  Speaker 6: Now that I've just bought a house, I can finally
• 8:56
  Speaker 6: get into it without all the little extra bits of
• 9:00
  Speaker 6: money that you know, you find that you spend.
• 9:02
  Speaker 3: Yeah, no, it makes sense. What do you think it
• 9:05
  Speaker 3: would take to get to an A or an A plus?
• 9:07
  Speaker 6: So for me to get to an A, I would
• 9:09
  Speaker 6: like to be more regularly investing in the share market,
• 9:13
  Speaker 6: making it a part of my budget and something that
• 9:15
  Speaker 6: I do on a regular basis, as opposed to just
• 9:17
  Speaker 6: doing it when I have a bit of extra money.
• 9:20
  Speaker 1: I love that.
• 9:20
  Speaker 3: I feel like you're really clear. Sometimes I ask people
• 9:23
  Speaker 3: and they're like, oh, I'm not really sure, but you
• 9:24
  Speaker 3: clearly have some steps to get yourself into the best
• 9:27
  Speaker 3: financial position. I want to dive more into that. Though,
• 9:30
  Speaker 3: after this very quick break, don't go anywhere.
• 9:37
  Speaker 4: Welcome back, money, deris. I have a question about finances
• 9:41
  Speaker 4: and your relationship because you said in your letter you
• 9:45
  Speaker 4: wrote to us that you really don't want to be
• 9:47
  Speaker 4: relying on a partner and that's important to you. But
• 9:50
  Speaker 4: then on the flip side of that, your partner works
• 9:52
  Speaker 4: in finance and so you mentioned that you know, he's
• 9:55
  Speaker 4: kind of maybe someone who held that knowledge a bit,
• 9:57
  Speaker 4: and you're really working on that through listening to the
• 9:59
  Speaker 4: pod educating yourself. But I think often when we're in
• 10:02
  Speaker 4: a situation like that and our partner or someone we
• 10:05
  Speaker 4: care about knows more than us about something, it's really
• 10:07
  Speaker 4: easy to kind of rely on their input or kind
• 10:10
  Speaker 4: of let them take the lead in that area that
• 10:12
  Speaker 4: they specialize in.
• 10:13
  Speaker 1: So how are you kind.
• 10:14
  Speaker 4: Of balancing those two almost conflicting desires.
• 10:18
  Speaker 5: So it's actually quite interesting.
• 10:20
  Speaker 6: I'm the one who pays all of our bills and
• 10:22
  Speaker 6: make sure that they're all paid on time, so I
• 10:24
  Speaker 6: actually take the lead in the finances in our relationship.
• 10:28
  Speaker 6: He did sort of help me out with the shares
• 10:32
  Speaker 6: and sort of getting started on what to invest in,
• 10:34
  Speaker 6: but other than that, I was pretty much set up
• 10:37
  Speaker 6: before I met him. So I actually don't really find
• 10:42
  Speaker 6: that we have any issues in that aspect, because yeah,
• 10:45
  Speaker 6: I was already set up before we met. But I
• 10:49
  Speaker 6: have found that when overhear conversations that he's having, or
• 10:52
  Speaker 6: I hear something on the podcast and I go and
• 10:54
  Speaker 6: talk to.
• 10:55
  Speaker 5: Him about it, he's very shocked and surprised that I
• 10:57
  Speaker 5: have to understand what he's talking a.
• 11:00
  Speaker 6: Lot of the times, so he actually has said that
• 11:02
  Speaker 6: I'm probably the most financially literate person who's not in finance.
• 11:07
  Speaker 2: I lot.
• 11:08
  Speaker 1: I feel like everyone in our communities like that.
• 11:11
  Speaker 3: I had that conversation, Like Jess and I recently had
• 11:14
  Speaker 3: our book tour, and it gave us the opportunity to
• 11:16
  Speaker 3: talk to so many beautiful community members and they're all like, oh, yeah,
• 11:19
  Speaker 3: I know this, this, this, and this, and I'm just like,
• 11:21
  Speaker 3: holy moly, you guys are so educated. I am so proud,
• 11:25
  Speaker 3: Like it makes me insanely happy to know that. You know,
• 11:28
  Speaker 3: it sounds lame, but like you tell your partner something
• 11:30
  Speaker 3: and he's like, holy moly, money diarist, Like where did
• 11:33
  Speaker 3: that come from? Because I don't think we give ourselves
• 11:36
  Speaker 3: enough credit for how complex these things can become. So
• 11:40
  Speaker 3: it's one thing to go, Okay, I know how to
• 11:42
  Speaker 3: put together a budget, but then when you're talking about
• 11:44
  Speaker 3: the difference between a managed fund and in ETF and
• 11:46
  Speaker 3: you're starting investing, like genuinely, that does take a little
• 11:50
  Speaker 3: bit for us to wrap our heads around. So I
• 11:52
  Speaker 3: am so proud of you, Like I'm so happy to
• 11:54
  Speaker 3: hear that and I also side note here it's kind
• 11:58
  Speaker 3: of like the plumber who has a leaky tap at home.
• 12:01
  Speaker 3: My partner pays all the bills. I don't want to
• 12:03
  Speaker 3: even look at that. I'm like, I look at my clients'
• 12:05
  Speaker 3: bills each and every single day, like I'm doing all
• 12:08
  Speaker 3: of it. Don't even don't even talk to me about it.
• 12:11
  Speaker 3: So I'm money arrest. I'm not surprised to hear that
• 12:13
  Speaker 3: your partner lets you you take the lead on that.
• 12:16
  Speaker 1: Because I do the same thing in my relationship.
• 12:18
  Speaker 6: No, he definitely takes the backstep when it comes to
• 12:22
  Speaker 6: our finances.
• 12:23
  Speaker 3: Yeah, it's interesting, right, all right, Next question I've got.
• 12:26
  Speaker 3: I want to know a little bit more about the
• 12:29
  Speaker 3: purvy side of your parents and your grandparents' relationship.
• 12:32
  Speaker 6: Right.
• 12:32
  Speaker 3: You said really clearly when I asked you about your
• 12:35
  Speaker 3: money story, that you knew that your grandparents were together
• 12:39
  Speaker 3: in like a convenience kind of relationship. And I'd like
• 12:43
  Speaker 3: to know one how you're aware of that, but two
• 12:45
  Speaker 3: how that impacts your decision making around what your financial
• 12:50
  Speaker 3: life looks like, and how that's impacted you wanting to
• 12:52
  Speaker 3: be you know, independent and female. Has this come from
• 12:55
  Speaker 3: them saying that to your or is this like, you know,
• 12:58
  Speaker 3: side observations like what does that look like to you?
• 13:00
  Speaker 6: I think it was all around observations when I was younger.
• 13:03
  Speaker 6: So I do remember in my childhood that I believe
• 13:06
  Speaker 6: my pop had cheated and essentially my Nan, I guess,
• 13:11
  Speaker 6: wasn't working and he was the one paying the bills
• 13:13
  Speaker 6: and she was the one looking after the family and
• 13:15
  Speaker 6: providing dinners and everything like that. And I know that
• 13:18
  Speaker 6: growing up, my nan has never been completely happy in
• 13:23
  Speaker 6: her relationship. And I know that if it wasn't for
• 13:25
  Speaker 6: us having such a big family and everything like that,
• 13:27
  Speaker 6: and if she was able to provide for herself, she
• 13:29
  Speaker 6: probably would have not stayed in that relationship, but purely
• 13:33
  Speaker 6: at a convenience, they've stayed together. And I guess for me,
• 13:37
  Speaker 6: that just meant that I never wanted to be in
• 13:39
  Speaker 6: a situation where I wasn't able to financially look after myself.
• 13:42
  Speaker 6: If I was in a situation like that, I'd hate
• 13:45
  Speaker 6: to be stuck in an unhappy relationship with no way
• 13:48
  Speaker 6: out and feeling I have to stay there because of this.
• 13:51
  Speaker 3: I find that a little bit heartbreaking, but really really
• 13:55
  Speaker 3: interesting because I'm making some assumptions over the ages of
• 13:59
  Speaker 3: your grandparents, and it's kind of normal in a way
• 14:03
  Speaker 3: for them to just go, well, it is what it is.
• 14:05
  Speaker 3: I don't have any financial literacy for myself, and it
• 14:08
  Speaker 3: really really upsets me to think that people aren't living
• 14:11
  Speaker 3: their best lives or their happiest lives just purely based
• 14:14
  Speaker 3: on the fact that financially they couldn't get by and
• 14:18
  Speaker 3: this idea that you know, I don't know. I just
• 14:20
  Speaker 3: feel bad that your grandma was in a position where
• 14:23
  Speaker 3: she didn't get to live, you know, the life that
• 14:25
  Speaker 3: she potentially could have lived or wanted to live because
• 14:28
  Speaker 3: of that. I mean, she's super lucky to have you
• 14:30
  Speaker 3: in such a big family, and like that's a blessing
• 14:32
  Speaker 3: in itself. But I guess this is why I'm so
• 14:35
  Speaker 3: wildly passionate about women, you know, having good financial literacy
• 14:39
  Speaker 3: and complete side note, guys, have you fallen onto the
• 14:42
  Speaker 3: side of stay at home mum TikTok oh?
• 14:44
  Speaker 5: Yes? Oh?
• 14:45
  Speaker 3: Like it looks so viby, it looks so aesthetic, and
• 14:48
  Speaker 3: I just want to jump up and down and be
• 14:50
  Speaker 3: like this is so toxic, Like you are putting all
• 14:53
  Speaker 3: your eggs in one basket and money direst you're pointing
• 14:57
  Speaker 3: out exactly why, like you're seeing it further down the tray.
• 15:00
  Speaker 3: Can you just like she's just not the person that
• 15:01
  Speaker 3: she could have been or as happy as she could
• 15:04
  Speaker 3: have been, So to talk to me about how you
• 15:07
  Speaker 3: manage that in your personal relationship. So is that something
• 15:10
  Speaker 3: where you've said to your partner, Look, I really want
• 15:11
  Speaker 3: to have my own financial independence. Like, are you having
• 15:14
  Speaker 3: these deep conversations now or has your relationship not got
• 15:17
  Speaker 3: there yet?
• 15:18
  Speaker 1: I'm sorry if I'm being too pervy. I just need
• 15:20
  Speaker 1: to know.
• 15:21
  Speaker 6: No, Definitely, I guess prior to the relationship i've been now,
• 15:24
  Speaker 6: I was in a pretty not great one before which
• 15:29
  Speaker 6: I did have to leave, and I was lucky to
• 15:31
  Speaker 6: have my investment property where my grandparents are living in
• 15:34
  Speaker 6: to fall back on. And then when I met my
• 15:38
  Speaker 6: now partner, I was pretty much set up living on
• 15:40
  Speaker 6: my own. Everything in my house I bought myself. So
• 15:45
  Speaker 6: basically from the very beginning, I've been very upfront. At
• 15:48
  Speaker 6: the time, I was also looking at moving for my career,
• 15:50
  Speaker 6: and I was very upfront about I need to, you know,
• 15:54
  Speaker 6: sort myself out first before I can factor another person in.
• 15:57
  Speaker 6: I want to make sure that I'm set up and
• 15:59
  Speaker 6: happy on my own before I can, I guess, be
• 16:03
  Speaker 6: with anybody else. So that's definitely been a big conversation
• 16:06
  Speaker 6: that we've had.
• 16:07
  Speaker 5: From the very beginning of my relationship.
• 16:09
  Speaker 6: I've been very upfront that I always want to have
• 16:12
  Speaker 6: my own independence. I never want to rely on somebody
• 16:14
  Speaker 6: else not being there or you know, a relationship breaking
• 16:18
  Speaker 6: down and then struggling and then not having somewhere to
• 16:21
  Speaker 6: live for not being able to look after myself. It's
• 16:24
  Speaker 6: very important to me that I am fine on my own.
• 16:28
  Speaker 1: Yeah, totally.
• 16:29
  Speaker 3: How does that filter into the way you manage money
• 16:32
  Speaker 3: as a couple, Like, do you have joint accounts? Do
• 16:34
  Speaker 3: you like manage money together? Do you have your own?
• 16:36
  Speaker 3: Like what does that structure for I guess cash flow
• 16:39
  Speaker 3: look like.
• 16:40
  Speaker 5: Yes, so we both have our own accounts.
• 16:42
  Speaker 6: I also have my separate investment property account which is
• 16:46
  Speaker 6: purely on its own. He's got his own accounts, but
• 16:48
  Speaker 6: we do have obviously our mortgage that's shared. And then
• 16:52
  Speaker 6: we also have an account that is shared, which is
• 16:55
  Speaker 6: I suppose our spending account, and we both contribute the
• 16:59
  Speaker 6: same amount of money into that and then we use
• 17:02
  Speaker 6: that for our joint spendings.
• 17:04
  Speaker 1: I love this.
• 17:05
  Speaker 3: If we wind back to before you were super super
• 17:09
  Speaker 3: financially literate, what were the first steps that you took
• 17:13
  Speaker 3: to kind of put yourself in the best possible position.
• 17:15
  Speaker 1: I mean self indulgently.
• 17:16
  Speaker 3: I'd love to hear the story about how you love
• 17:18
  Speaker 3: She's on the money, Like, I feel like financial literacy
• 17:21
  Speaker 3: for a lot of people's starts before you're introduced to that,
• 17:24
  Speaker 3: Like you're looking for that content, or you're you know,
• 17:27
  Speaker 3: craving a different way to budget or cash flow.
• 17:29
  Speaker 1: Like, how did that start for you?
• 17:31
  Speaker 3: Obviously you knew all along that you wanted to have
• 17:34
  Speaker 3: some level of you know, financial literacy to not be
• 17:36
  Speaker 3: in the situations that you've seen happy in your family,
• 17:39
  Speaker 3: But what were your first steps to going you know what,
• 17:41
  Speaker 3: this is what's going to create financial security for me?
• 17:44
  Speaker 5: Yes, So I've.
• 17:45
  Speaker 6: Always been a very independent person to begin with. But
• 17:48
  Speaker 6: I believe when I was younger, I always I guess
• 17:51
  Speaker 6: from family members that I had, you know, everyone was
• 17:54
  Speaker 6: buying a house and that was the thing that was
• 17:56
  Speaker 6: going to, I suppose be the thing that keeps them
• 17:59
  Speaker 6: so owning their own house. So I think for me,
• 18:02
  Speaker 6: it just makes sense that if I own my own house,
• 18:04
  Speaker 6: I'll always have somewhere to live forever. And my family
• 18:08
  Speaker 6: were pretty much the ones that were like, you know,
• 18:10
  Speaker 6: you need to buy a house.
• 18:12
  Speaker 5: You need to buy a house.
• 18:13
  Speaker 6: So I did that, but I wish back then I
• 18:16
  Speaker 6: actually had a better understanding of what it actually means
• 18:20
  Speaker 6: to own a house instead of, you know, just buying
• 18:23
  Speaker 6: it because that's what I think I should do and
• 18:24
  Speaker 6: it fits in my budget and everything like that. But
• 18:27
  Speaker 6: you know, no one at school or anything ever explained
• 18:30
  Speaker 6: to you. You know about rates, and you know if
• 18:33
  Speaker 6: things break in the house that you need to you know,
• 18:36
  Speaker 6: cover that, and you know property management and insurances and
• 18:40
  Speaker 6: all of that sort of stuff. So I think I
• 18:42
  Speaker 6: just I bought my first one purely because I thought
• 18:44
  Speaker 6: that was the right step in it, you know, in
• 18:47
  Speaker 6: being financially secure as having your own house, and that's
• 18:49
  Speaker 6: where that sort of started. But I wish I had
• 18:52
  Speaker 6: a better understanding of what that actually meant at the time.
• 18:55
  Speaker 6: I'm still very glad that I did, but I feel
• 18:59
  Speaker 6: like I could have been better educated around it before
• 19:02
  Speaker 6: I jumped into that.
• 19:04
  Speaker 4: You've said a couple of times throughout, you know, our
• 19:06
  Speaker 4: little chat with you, that ultimately what you're working towards
• 19:10
  Speaker 4: is your financial freedom and you know that's why you
• 19:12
  Speaker 4: have this property, you have this investment property, and now
• 19:14
  Speaker 4: you're starting your journey in shares. What does that specifically
• 19:18
  Speaker 4: look like to you? Would you lack to retire early?
• 19:20
  Speaker 4: Would you lack to you know, travel? I feel like
• 19:23
  Speaker 4: everybody has this different idea of what that financial freedom
• 19:27
  Speaker 4: and financial security means to them.
• 19:29
  Speaker 1: What is it for you?
• 19:31
  Speaker 6: For me, I think it would be to not be
• 19:33
  Speaker 6: stressed about money, not worried about bills or everything like that,
• 19:36
  Speaker 6: just to have everything sort of set up and then
• 19:39
  Speaker 6: not having to say no to opportunities should they ever
• 19:42
  Speaker 6: come along. That money was not a restriction. So for
• 19:45
  Speaker 6: me doesn't necessarily mean, you know, I get to retire early,
• 19:49
  Speaker 6: because the person that I am, I'll probably be working
• 19:51
  Speaker 6: until I die.
• 19:52
  Speaker 1: That's just my personality, same girlfriend, same.
• 19:57
  Speaker 5: Yeah.
• 19:57
  Speaker 6: I just I want to be secure that i'm you know,
• 19:59
  Speaker 6: don't have to check my bank account balance and I
• 20:02
  Speaker 6: don't need to check my bills every month because it's
• 20:04
  Speaker 6: all just all just working well. So for me, it's
• 20:08
  Speaker 6: just being completely secure in the fact that I can
• 20:11
  Speaker 6: do what I want when I want and not have
• 20:13
  Speaker 6: to worry about the money side of things.
• 20:16
  Speaker 3: Okay, there is a really big question that I want
• 20:19
  Speaker 3: to ask, because obviously, buying a property is the great
• 20:22
  Speaker 3: Australian dream, and it's one of the things that you know,
• 20:26
  Speaker 3: I feel like our community really struggle with because it's
• 20:28
  Speaker 3: hard to get onto the property ladder, Like it's hard
• 20:31
  Speaker 3: to save your deposit. How did you do it? And
• 20:33
  Speaker 3: how old are you? Because money diarist, I can see you.
• 20:36
  Speaker 3: The rest of the community can't because you are absolutely anonymous.
• 20:39
  Speaker 1: You look young, you look fresh, you look vibrant. How
• 20:41
  Speaker 1: old are you?
• 20:42
  Speaker 3: And how did you save for your first deposit and
• 20:45
  Speaker 3: get on the property ladder? Because I'm just looking at you,
• 20:48
  Speaker 3: going this is incredible, Like it's not as though you're
• 20:50
  Speaker 3: sitting here going, oh, I have one hundred and eighty
• 20:52
  Speaker 3: thousand dollars income, Like you've got a really normal, relatable salary.
• 20:55
  Speaker 1: I wouldn't know. Tell us how did you do it?
• 20:58
  Speaker 6: So I'm twenty seven. I bought my first property when
• 21:01
  Speaker 6: I was twenty three. At the time, I was working
• 21:04
  Speaker 6: in a supermarket and I guess I just saved. I
• 21:09
  Speaker 6: just I was really good at saving, and pretty much
• 21:12
  Speaker 6: every bit of money that I had left over after
• 21:14
  Speaker 6: paying bills and whatnot. I just saved and was lucky.
• 21:18
  Speaker 6: I suppose at the time you just rates weren't so
• 21:20
  Speaker 6: high and I was just able to save my deposit.
• 21:24
  Speaker 1: How long did that process take.
• 21:26
  Speaker 5: I think it took me about a year from once
• 21:29
  Speaker 5: I decided that I wanted to buy, to be able
• 21:32
  Speaker 5: to save up for the deposit and have it ready
• 21:35
  Speaker 5: to go.
• 21:35
  Speaker 1: Yeah, yeah, okay.
• 21:36
  Speaker 3: That is good to know because I feel like so
• 21:38
  Speaker 3: many times people are like, oh my gosh, it's going
• 21:40
  Speaker 3: to take ages. But from the sound of it, we
• 21:42
  Speaker 3: already heard about your first property. It wasn't like a
• 21:45
  Speaker 3: million dollar property that I think a lot of US
• 21:47
  Speaker 3: millennials seem to think has to be our entry point
• 21:50
  Speaker 3: into the market. And now you're obviously stepping up and
• 21:53
  Speaker 3: you want to step up again. But I just feel
• 21:55
  Speaker 3: like your story is so relatable but just also just
• 21:57
  Speaker 3: so interesting, like this independent woman vibe. I have my
• 22:01
  Speaker 3: own house, I've got to run my own life, and
• 22:03
  Speaker 3: even though my partner is an associate financial advisor, like
• 22:06
  Speaker 3: you're clearly running rings around him, and I love to
• 22:09
  Speaker 3: see it. Money Diarist, I think that's all we have
• 22:12
  Speaker 3: time for today, though, Thank you so much for joining
• 22:15
  Speaker 3: us on the show.
• 22:16
  Speaker 5: Thank you for having me, No, of course.
• 22:19
  Speaker 3: I love hearing money diaries. They are my favorite part
• 22:22
  Speaker 3: of the week.
• 22:23
  Speaker 1: A pleasure. As always, my friends, We will see you
• 22:26
  Speaker 1: next week.
• 22:27
  Speaker 2: Hi.
• 22:34
  Speaker 3: The advice shared on She's on the Money is generally
• 22:37
  Speaker 3: nature and does not consider your individual circumstances. She's on
• 22:40
  Speaker 3: the Money exists purely for educational purposes and should not
• 22:44
  Speaker 3: be relied upon to make an investment or financial decision.
• 22:47
  Speaker 3: If you do choose to buy a financial product, read
• 22:50
  Speaker 3: the PDS TMD and obtain appropriate financial.
• 22:53
  Speaker 1: Advice tailored towards your needs.
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