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Hustle, Hard Work, and Healthy Financial Growth · She's On The Money

• 0:00
  Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud Order
• 0:05
  Speaker 1: Order Kerney Whoalbury and a waddery woman. And before we
• 0:08
  Speaker 1: get started on She's on the Money podcast, I would
• 0:11
  Speaker 1: like to acknowledge the traditional custodians of the land of
• 0:14
  Speaker 1: which this podcast is recorded on a wondery country, acknowledging
• 0:18
  Speaker 1: the elders, the ancestors and the next generation coming through
• 0:23
  Speaker 1: as this podcast is about connecting, empowering, knowledge sharing and
• 0:27
  Speaker 1: the storytelling of you to make a difference for today
• 0:31
  Speaker 1: and lasting impact for tomorrow.
• 0:33
  Speaker 2: Let's get into it.
• 0:34
  Speaker 3: She's on the Money, She's on the Money.
• 0:57
  Speaker 2: Hello, and welcome to She's on the Money the pod
• 1:00
  Speaker 2: Castle Millennials who want financial freedom.
• 1:02
  Speaker 4: Welcome back to another one of our money dories where
• 1:05
  Speaker 4: I get the absolute pleasure of sitting down with one
• 1:08
  Speaker 4: of us She's on the Money community members and talking
• 1:10
  Speaker 4: all about their money story. Let's jump straight into it,
• 1:13
  Speaker 4: because this week I got an email and it sounded
• 1:16
  Speaker 4: exactly like this, Dear She's on.
• 1:18
  Speaker 2: The Money team. Growing up in a single parent household,
• 1:21
  Speaker 2: I learned the value of hard work and resourcefulness early on.
• 1:25
  Speaker 2: My mom and I were always finding ways to stretch
• 1:27
  Speaker 2: our money, and that scrappy mindset has stayed with me
• 1:30
  Speaker 2: throughout my life, from selling loom bands at the corner
• 1:34
  Speaker 2: store to fund my treats as a kid to starting
• 1:37
  Speaker 2: a beauty salon with my mum at seventeen while I
• 1:39
  Speaker 2: was still in high school. I've always had a hustler's spirit,
• 1:42
  Speaker 2: and that entrepreneurial drive has guided me through various business
• 1:46
  Speaker 2: ventures and into my current career. Now I'm balancing a
• 1:50
  Speaker 2: demanding full time job while studying for a Bachelor of Business.
• 1:54
  Speaker 2: I've recently bought my first home, and I'm just about
• 1:57
  Speaker 2: to turn twenty one. Money does? What the hell?
• 2:02
  Speaker 5: Hello? It sounds pretty cool to listen back to that,
• 2:06
  Speaker 5: I must say.
• 2:06
  Speaker 2: Are you for real? I thought you were about to
• 2:10
  Speaker 2: be like and I'm just about to turn sixty five, Like,
• 2:14
  Speaker 2: be for real? You've achieved so much and also blast
• 2:18
  Speaker 2: from the past. Loom bracelets, right, I know?
• 2:22
  Speaker 5: I know?
• 2:22
  Speaker 2: Oh my god, I reckon. I've got one somewhere, like
• 2:26
  Speaker 2: hidden in the back of a jewelry box that I
• 2:28
  Speaker 2: couldn't let go of. How much did you sell those for?
• 2:31
  Speaker 5: Like?
• 2:32
  Speaker 2: What's a loomband go for?
• 2:33
  Speaker 5: Surely fifty cents?
• 2:34
  Speaker 2: I can't remember, but not not nearly enough to justify
• 2:38
  Speaker 2: the amount of energy that goes into those No way.
• 2:41
  Speaker 5: That was definitely passion project for sure.
• 2:45
  Speaker 2: Oh my gosh. All right, well, let's dive into a
• 2:47
  Speaker 2: money diary. As always, my first cab off the rankers
• 2:50
  Speaker 2: money doarist. If I asked you to give yourself a
• 2:52
  Speaker 2: money grade from A through to F, what would that
• 2:55
  Speaker 2: money grade be?
• 2:56
  Speaker 5: Had to think about this. I've been a long time
• 2:59
  Speaker 5: listener and I'm going to have to go with a
• 3:03
  Speaker 5: solid be a solid bee.
• 3:05
  Speaker 2: All right, let's learn more about that. My favorite question
• 3:09
  Speaker 2: money deres. Can you tell me a little bit more
• 3:11
  Speaker 2: about your money story?
• 3:13
  Speaker 5: Yes? So, I would say that my attitude towards money
• 3:18
  Speaker 5: has always been quite conscious. I've always been quite conscious
• 3:22
  Speaker 5: and calculated with money, and for the most part, I
• 3:26
  Speaker 5: probably had a positive relationship with money. But I guess
• 3:29
  Speaker 5: on the contrary to that is that I grew up
• 3:32
  Speaker 5: with probably what I needed, but not an abundance of money.
• 3:37
  Speaker 5: So it was always borrowed from Peter to give to Paul,
• 3:40
  Speaker 5: and that's probably transformed into my life now. From a
• 3:45
  Speaker 5: scarcity mindset point of view, I think I'm very I
• 3:49
  Speaker 5: wouldn't say obsessive but very conscious of money is probably
• 3:53
  Speaker 5: the best word. So I'm always worried if it's going
• 3:56
  Speaker 5: to come, if it's going to go, and having enough
• 3:58
  Speaker 5: money to pay my bills a thought on my mind.
• 4:01
  Speaker 5: And I guess you could say it's a negative mindset.
• 4:05
  Speaker 2: And you still think you have a negative mindset.
• 4:08
  Speaker 5: No, it's quite positive, but I think maybe a negative
• 4:11
  Speaker 5: scenario has influenced where my mindset is now.
• 4:16
  Speaker 2: Yeah, and I feel like that makes a lot of sense.
• 4:18
  Speaker 2: That's part of our money story, right Like, and for
• 4:20
  Speaker 2: us to understand where we are today, we need to
• 4:23
  Speaker 2: understand where we've come from and maybe why we have
• 4:25
  Speaker 2: certain feelings and thoughts and behaviors around money. Because right
• 4:30
  Speaker 2: now you're clearly doing well, Like I'm really excited to
• 4:33
  Speaker 2: learn more, but you've just bought your own house and
• 4:36
  Speaker 2: like that's so exciting, But you're also like, oh, I
• 4:39
  Speaker 2: still have this like scrappy mindset, and like I'm often
• 4:42
  Speaker 2: really worried about money, even though maybe that's not if
• 4:46
  Speaker 2: we looked at it on paper, Yeah, yeah, that's not
• 4:49
  Speaker 2: the reality, but it's also something that still stresses you
• 4:52
  Speaker 2: out because inherently you know that has happened historically, right, Yeah,
• 4:56
  Speaker 2: so I want to know more. Right now, you have
• 4:59
  Speaker 2: a full time job and you're studying, but what do
• 5:01
  Speaker 2: you do for work and how much money do you earn?
• 5:03
  Speaker 5: I am a human resource manager and at the moment,
• 5:08
  Speaker 5: I earn one hundred and fifteen thousand dollars plus super
• 5:12
  Speaker 5: and I also have a company vehicle and fuel card
• 5:15
  Speaker 5: as well, and then two side hustles. You could you
• 5:20
  Speaker 5: could say.
• 5:21
  Speaker 2: So can we just twenty one? Twenty one? Are you
• 5:24
  Speaker 2: sure you're not lying about your age? I mean I
• 5:26
  Speaker 2: can see you. You definitely look twenty one, but you're
• 5:29
  Speaker 2: earning one hundred and fifteen one thousand dollars plus super
• 5:32
  Speaker 2: plus car plus two businesses.
• 5:34
  Speaker 5: Yes, yes, math.
• 5:36
  Speaker 2: Isn't mathing where it were? You like you will to
• 5:38
  Speaker 2: be the oldest soul in the entire universe.
• 5:41
  Speaker 5: Honestly, I feel like that, and it's it's my age
• 5:45
  Speaker 5: is actually something that I'd say I'm quite conscious of,
• 5:47
  Speaker 5: particularly with the you know, negative connotations that come around
• 5:52
  Speaker 5: being a young person in a position of with a
• 5:55
  Speaker 5: position of responsibility but also a level of authority as well.
• 5:59
  Speaker 5: I think it's something I try and hide, and it's
• 6:01
  Speaker 5: something when I talk about my age and how much
• 6:04
  Speaker 5: I am and I don't really but when I do,
• 6:06
  Speaker 5: it's it's definitely one of those things where I go,
• 6:09
  Speaker 5: are people going to think that I'm lying? And I
• 6:12
  Speaker 5: have to kind of give myself a fact check where
• 6:15
  Speaker 5: I'm like, no, you've done.
• 6:16
  Speaker 2: That, Yeah, one hundred percent you have. I just am
• 6:19
  Speaker 2: so impressed. I think that mine's not coming from a
• 6:22
  Speaker 2: question of authority, more like, wow, girl, get it, Like
• 6:25
  Speaker 2: that's so sick, share with us, how do we do this?
• 6:28
  Speaker 5: Yes? Yes, no, I understand. Yeah.
• 6:30
  Speaker 2: I do really resonate with that though, because as somebody
• 6:33
  Speaker 2: who started my business at twenty three, that is exactly
• 6:36
  Speaker 2: how I felt like. I always felt like the youngest
• 6:38
  Speaker 2: in the room and maybe not worthy of being there
• 6:41
  Speaker 2: or you know, not smart enough or not experienced enough,
• 6:44
  Speaker 2: or you know, not something enough. As always yes, and
• 6:47
  Speaker 2: that does make you question whether you're sitting in the
• 6:49
  Speaker 2: right room doing the right things and you are where
• 6:51
  Speaker 2: you're meant to be.
• 6:52
  Speaker 5: Yes, one hundred percent.
• 6:54
  Speaker 2: Times you question yourself. And that just reminded me that
• 6:57
  Speaker 2: I definitely went through that, and I think it's only
• 6:59
  Speaker 2: since I've joined my thirties that I'm really like, no, no,
• 7:03
  Speaker 2: I'm exactly where I need to be. And often people
• 7:06
  Speaker 2: are still surprised when I say, oh, no, I've been
• 7:08
  Speaker 2: in this industry for ten plus years. They're like wait
• 7:10
  Speaker 2: what yeah, Or I've been a business owner for this
• 7:12
  Speaker 2: long and they're like hold on, like how And I
• 7:16
  Speaker 2: think that that's good for me, But it's taken a
• 7:20
  Speaker 2: long time for that to settle in.
• 7:21
  Speaker 5: Yeah, to get to that and to have the boundaries
• 7:25
  Speaker 5: and the ownership of it. Yeah.
• 7:26
  Speaker 2: Yeah. So tell me about these two business side hustles.
• 7:29
  Speaker 2: What are they, what type of cash hol or do
• 7:31
  Speaker 2: they make you?
• 7:32
  Speaker 5: So the longer standing one would be so I do
• 7:36
  Speaker 5: beauty to alashic sessions and brows on the side. That's
• 7:39
  Speaker 5: one of the businesses that I had studied for and
• 7:42
  Speaker 5: started when I was in high school. And i've kind
• 7:44
  Speaker 5: of you never stopped doing it, right you say, I'll
• 7:47
  Speaker 5: give it up, I'll stop doing it, I'll get a
• 7:49
  Speaker 5: full time job, and I'll stop doing it, But you
• 7:51
  Speaker 5: never truly do. And I still continue to do that,
• 7:54
  Speaker 5: but in a reduced capacity. So I do one Saturday
• 7:57
  Speaker 5: every month, one every three weeks, and that's eyelash extensions
• 8:02
  Speaker 5: and eyebrows, as I said, and that probably brings in
• 8:06
  Speaker 5: last financial year was about ten thousand dollars.
• 8:10
  Speaker 2: Wow for one day a month of work. Be for real,
• 8:13
  Speaker 2: that's very nice.
• 8:15
  Speaker 5: Some months only works out to be two Saturdays in
• 8:17
  Speaker 5: the month if I'm doing three weekly, but one Saturday
• 8:20
  Speaker 5: month sounds better. When I'm managing my life.
• 8:23
  Speaker 2: I feel like I'm someone who gets their lashes and
• 8:26
  Speaker 2: brows done religiously every three weeks. That would work for me.
• 8:29
  Speaker 2: So do you just have a consistent role of like
• 8:32
  Speaker 2: clients who just come every three weeks for their lash
• 8:35
  Speaker 2: refill or their extensions and go from there.
• 8:38
  Speaker 5: Yeah. Literally, when I decided to do that, I kind
• 8:42
  Speaker 5: of put a you know, who wants morning, who wants afternoon?
• 8:44
  Speaker 5: And I had to reduce obviously my SKO clients people,
• 8:48
  Speaker 5: so I picked my top five if I can say that. Yeah,
• 8:52
  Speaker 5: they're just all on a rotating basis now. So they
• 8:55
  Speaker 5: just pre booked and they know, like they can plan
• 8:58
  Speaker 5: their lives. They're like, right, every three weeks is my lashness.
• 9:00
  Speaker 5: I'm not going on.
• 9:01
  Speaker 2: But if you don't make it, we're not doing a
• 9:03
  Speaker 2: makeup one. Sorry about that?
• 9:04
  Speaker 5: Yes, yes, literally, I'm like, sorry, you gotta wait six
• 9:07
  Speaker 5: weeks then?
• 9:08
  Speaker 2: Yeah, oh my gosh, all right, so that brings in
• 9:11
  Speaker 2: another ten grand a year. What's your second side hustle?
• 9:15
  Speaker 5: The second one is only quite recent, but I started
• 9:18
  Speaker 5: doing disability support work on a Saturday for one of
• 9:22
  Speaker 5: my mom's clients. So yeah, that's kind of infrequent and
• 9:27
  Speaker 5: when she needs the support. But that has only been
• 9:30
  Speaker 5: in this financial year, so I'm not really positive on
• 9:33
  Speaker 5: what it would bring in in a year capacity, but
• 9:36
  Speaker 5: it's it's just a little bit extra.
• 9:38
  Speaker 2: So what type of extra is that?
• 9:40
  Speaker 1: Like?
• 9:40
  Speaker 2: If we said that you do like maybe one Saturday
• 9:42
  Speaker 2: a month, how much do you expect to get paid
• 9:45
  Speaker 2: for that Saturday.
• 9:46
  Speaker 5: I don't have good kind of numbers to work off
• 9:49
  Speaker 5: one Saturday. I earned nine hundred and oh my good
• 9:53
  Speaker 5: dollars because it's Saturday rate right.
• 9:55
  Speaker 2: Oh okay, for nine hundred and fifty bucks, I'm there.
• 9:58
  Speaker 2: I'm there for eight and.
• 10:00
  Speaker 5: A half hours though.
• 10:01
  Speaker 2: That's just that's a normal day's work. Yeah, pretty goodol,
• 10:05
  Speaker 2: Oh my god, I'm not mad about that. So that
• 10:07
  Speaker 2: could potentially let's say that you do like that once
• 10:10
  Speaker 2: a month. That's about the same as your lash and
• 10:13
  Speaker 2: brow business.
• 10:14
  Speaker 5: Yeah, it is, it is. I don't think I'll be
• 10:16
  Speaker 5: doing like that many hours again, but even four hundred
• 10:20
  Speaker 5: dollars a month maybe, but it all goes towards a
• 10:23
  Speaker 5: little extra purpose.
• 10:25
  Speaker 2: Yeah, I feel like that's really nourishing work as well.
• 10:27
  Speaker 2: It is being able to help, Like I just I
• 10:30
  Speaker 2: feel like I'd get a lot out of that. So
• 10:32
  Speaker 2: I'm glad that you get to do that. So you've
• 10:35
  Speaker 2: just bought your first house. You're doing all of this work, Like,
• 10:39
  Speaker 2: I'm very impressed thus far. Tell me, what are your
• 10:41
  Speaker 2: current big money goals? You bought the house, so what's next?
• 10:44
  Speaker 2: What are we working towards?
• 10:46
  Speaker 5: You already sound like you know me. I can't stop.
• 10:49
  Speaker 5: What's next?
• 10:50
  Speaker 2: That's me though, like cut paste. I mean, I definitely
• 10:53
  Speaker 2: didn't do it this successfully, this young, but I'm like,
• 10:57
  Speaker 2: she's me. I am her.
• 10:59
  Speaker 5: It's actually funny because my friends always say that I
• 11:03
  Speaker 5: remind them of you, or vice versa.
• 11:06
  Speaker 2: I already know that we'd get along really well. Yes,
• 11:09
  Speaker 2: if you were in the same state as me, even
• 11:11
  Speaker 2: though there's literally more than ten years difference between the
• 11:14
  Speaker 2: two of us, I feel like we'd get along very well.
• 11:16
  Speaker 5: We will, definitely, But my upcoming big money goals is
• 11:21
  Speaker 5: obviously to one continue paying down the mortgage. When I
• 11:24
  Speaker 5: can see how much of our monthly repayment is going
• 11:27
  Speaker 5: towards interest, it's very sad, So continue snatching that down
• 11:32
  Speaker 5: as much as we can. But also I really want
• 11:35
  Speaker 5: to start consciously making an effort into investing. So one
• 11:41
  Speaker 5: thing that you've always said that is stuck with me
• 11:44
  Speaker 5: is that the second best thing to timing the market
• 11:46
  Speaker 5: is time in the market. And I think it.
• 11:49
  Speaker 2: Going to work for me. Like you would be a
• 11:51
  Speaker 2: great advocate, like cut paste perfect. You're really well spoken.
• 11:55
  Speaker 2: I think you'd be great on a podcast. If you
• 11:57
  Speaker 2: ever want to be on the show, let me know.
• 12:02
  Speaker 5: It's so funny. You should actually hear me in my
• 12:04
  Speaker 5: day to day life. I'm like, have you listened to
• 12:06
  Speaker 5: shoes on the morney? Have you heard of them? Listened
• 12:09
  Speaker 5: to them? Learn? Oh?
• 12:11
  Speaker 2: I love this, but a conscious effort to invest, Oh
• 12:14
  Speaker 2: my god, you're twenty one, Like, oh, you could invest
• 12:17
  Speaker 2: and have so much time ahead of you, like you
• 12:20
  Speaker 2: are where every single one of our listeners wants to be.
• 12:23
  Speaker 5: Yes, And I think that's on the plus side for
• 12:26
  Speaker 5: me is that I have the time. But for me,
• 12:29
  Speaker 5: up until buying the house, my biggest priority was always
• 12:32
  Speaker 5: to have as much money in my bank account so
• 12:34
  Speaker 5: that I could buy the property. So now that I've
• 12:37
  Speaker 5: got it, I want to start. Yes, just having a
• 12:40
  Speaker 5: reoccurring deduction, even if it's two hundred dollars a month,
• 12:43
  Speaker 5: you know, you start small and just see that money
• 12:46
  Speaker 5: go out and be working towards something. And last money
• 12:50
  Speaker 5: goal immediately working towards is I'm actually going to Europe
• 12:54
  Speaker 5: in October.
• 12:55
  Speaker 2: Oh my gosh, exciting whereabouts in Europe? You're going?
• 12:58
  Speaker 5: It's actually a work so they do pay for me
• 13:01
  Speaker 5: to go. But yeah, yes, we have international hr days
• 13:06
  Speaker 5: because it's a global business that I work for.
• 13:09
  Speaker 2: Okay, Yeah, I'll head to Belgium okay, nice for some yeah.
• 13:16
  Speaker 5: And then I will take two weeks off annual league
• 13:19
  Speaker 5: while i'm over there. So I'm planning to do London, Paris,
• 13:23
  Speaker 5: Amsterdam and then on the way back spend the night
• 13:26
  Speaker 5: in Dubai so that I can see as much as
• 13:28
  Speaker 5: possible within the two weeks.
• 13:29
  Speaker 2: So, oh my gosh, I've got so many recommendations for you.
• 13:33
  Speaker 1: Yeah.
• 13:34
  Speaker 2: Yeah, I have just gotten back from London and pass
• 13:37
  Speaker 2: like I will send all of my favorite ones and
• 13:40
  Speaker 2: all my money tips and tricks.
• 13:42
  Speaker 5: Please.
• 13:42
  Speaker 2: I feel like you love it. I feel like your
• 13:44
  Speaker 2: business is shooting themselves in the foot, though, because by
• 13:47
  Speaker 2: having an international HR day, who in your team is
• 13:52
  Speaker 2: not taking two weeks off at exactly the same time? Right,
• 13:55
  Speaker 2: They're going to lose half their workforce by taking them
• 13:58
  Speaker 2: overseas because I'm not going over season, They're not making
• 14:01
  Speaker 2: the most of it. Like everybody is out.
• 14:06
  Speaker 5: Only I guess regional people or department responsible people will
• 14:12
  Speaker 5: go though.
• 14:12
  Speaker 2: Yeah, so all that the big dogs are out of
• 14:14
  Speaker 2: the office at the same time. I like that. I
• 14:16
  Speaker 2: mean that's their problem, not ours, babe. That is a
• 14:19
  Speaker 2: them problem. They need to deal with that. Yes, all right,
• 14:21
  Speaker 2: let's go to a really quick break before I get
• 14:23
  Speaker 2: further off track. And on the flip side, I want
• 14:26
  Speaker 2: to ask you more perfect questions. I'm going to ask
• 14:28
  Speaker 2: you how much you spent on your house. I'm going
• 14:29
  Speaker 2: to be asking about your investment plans. I want to
• 14:32
  Speaker 2: know about your total debt and best and worst money habits,
• 14:35
  Speaker 2: So guys, don't go anywhere money diarist. We are back,
• 14:42
  Speaker 2: and I am very excited about this episode. I feel
• 14:45
  Speaker 2: like you are so young and have achieved so much.
• 14:47
  Speaker 2: It's arguably very unrelatable, but I think we can learn
• 14:51
  Speaker 2: a lot from you. So diving straight back in, you
• 14:54
  Speaker 2: mentioned before that you want to consciously start investing because
• 14:58
  Speaker 2: you know that time is on your side and the
• 15:01
  Speaker 2: second best thing to timing the market is time in
• 15:03
  Speaker 2: the market. So what progress have you made towards that goal?
• 15:07
  Speaker 2: What are your thoughts around this? How are you going
• 15:10
  Speaker 2: to invest? What does that look like?
• 15:12
  Speaker 5: So? I currently have one thousand dollars invested in ETFs,
• 15:18
  Speaker 5: So I just have two. I used to work for
• 15:21
  Speaker 5: a tech company and it kind of made me realize
• 15:25
  Speaker 5: how much development in that space is still yet to come.
• 15:29
  Speaker 5: So I invest split between the ASX top two hundred
• 15:33
  Speaker 5: and also between I think it's the top one hundred
• 15:36
  Speaker 5: tech companies as well.
• 15:38
  Speaker 2: Okay, that is.
• 15:39
  Speaker 5: Where I'm currently sitting in with that one thousand dollars,
• 15:43
  Speaker 5: and I think, to be honest, I will continue to
• 15:46
  Speaker 5: invest into those two more so prioritizing the top two
• 15:50
  Speaker 5: hundred ASX because historically, over one hundred years, it's still
• 15:55
  Speaker 5: positively gone on the upward trajectories.
• 15:59
  Speaker 2: You're going to be a financial advisor next, I just
• 16:01
  Speaker 2: know it.
• 16:02
  Speaker 5: It's actually not so funny you say that, because I
• 16:04
  Speaker 5: almost added financial planning to my degree as a second major,
• 16:08
  Speaker 5: but they weren't compatible with HR management. But I am
• 16:11
  Speaker 5: definitely interested in that space.
• 16:13
  Speaker 2: I mean, I did psychology and ended up here. It's
• 16:15
  Speaker 2: a slippery slope one so you start caring about money. True, True,
• 16:19
  Speaker 2: you go completely off track and you end up a
• 16:21
  Speaker 2: financial advisor. Worst you could become a mortgage brokup. My god,
• 16:26
  Speaker 2: but it is so fun. I want to know more
• 16:28
  Speaker 2: about this investing journey though, because over the weekend I
• 16:30
  Speaker 2: was actually talking to someone on Instagram and they were
• 16:32
  Speaker 2: messaging me and going, hey, v oh my gosh, I'm
• 16:34
  Speaker 2: really struggling, like I'm picking a platform this weekend. I'm
• 16:37
  Speaker 2: going to be investing. Obviously, I can't give advice, so
• 16:40
  Speaker 2: it's just having a chat and being like, okay, well
• 16:42
  Speaker 2: have you thought about, you know, maybe doing some more googling?
• 16:44
  Speaker 2: And I wish I could dive in and be like,
• 16:46
  Speaker 2: this is my recommendation, this is how this works. But
• 16:49
  Speaker 2: even if I had that, it might not fit. So
• 16:52
  Speaker 2: not ethical. But I want to note you've obviously put
• 16:55
  Speaker 2: your thinking hat on. You've invested into ETFs, which means
• 17:00
  Speaker 2: you've got even more diversification than just one ETF. You've
• 17:03
  Speaker 2: picked a top two hundred one and like a tech one.
• 17:06
  Speaker 2: What about platforms, Like when you were going I want
• 17:09
  Speaker 2: to invest, what did that look like.
• 17:11
  Speaker 5: I am still currently but I was with Comwealth Bank
• 17:15
  Speaker 5: and so at the time, I just decided to go
• 17:19
  Speaker 5: with Comseck. I know that the trading fees were a
• 17:22
  Speaker 5: little bit higher, but I decided to go with comsex.
• 17:25
  Speaker 5: So that is the platform that I'm currently in. I
• 17:28
  Speaker 5: also use I don't know if I mentioned, but I
• 17:31
  Speaker 5: have five hundred dollars in crypto, so I use bitcoin.
• 17:33
  Speaker 2: Oh no you didn't. How cool?
• 17:36
  Speaker 5: Yep, controversial, but yeah, I have five hundred dollars and
• 17:40
  Speaker 5: invested into coinspot as well. And I guess for me
• 17:43
  Speaker 5: it was totally more convenience. I had heard of, you know,
• 17:46
  Speaker 5: Chase's and Vanguard and that type of stuff, But for me,
• 17:49
  Speaker 5: I was already with Combank and they just literally deducted
• 17:52
  Speaker 5: it out of one of the bank accounts that I
• 17:53
  Speaker 5: had set up already, so it was easy for me.
• 17:56
  Speaker 2: It makes sense, and it's actually just about what you're
• 17:58
  Speaker 2: most comfortable with the end of the day. Obviously, there
• 18:01
  Speaker 2: are a million different platforms that you could choose from,
• 18:03
  Speaker 2: and it's like I don't care what platform you're on,
• 18:06
  Speaker 2: as long as you like it, it makes sense to you,
• 18:08
  Speaker 2: it's got user like features that make sense to you,
• 18:12
  Speaker 2: and you're actually investing. I could not care less. So
• 18:15
  Speaker 2: it's more I want to know what are you using,
• 18:17
  Speaker 2: because I think a lot of us listen to these
• 18:19
  Speaker 2: episodes and we're like, oh, she said, she invests, but
• 18:22
  Speaker 2: like where, when? Why?
• 18:23
  Speaker 5: How?
• 18:24
  Speaker 2: Like how did she get there? Because so many of
• 18:26
  Speaker 2: us get that like analysis paralysis at the start of
• 18:30
  Speaker 2: well do I do it? Well, I just looked at comseck.
• 18:32
  Speaker 2: I listened to that money direst she said. She was like, oh,
• 18:34
  Speaker 2: maybe that's not for me. And then you're weighing up
• 18:36
  Speaker 2: all your options. Did you get analysis paralysis at the
• 18:39
  Speaker 2: start of your investing journey? Like how long did it
• 18:43
  Speaker 2: take before you said I think I'll invest to actually
• 18:45
  Speaker 2: pulling the trigger?
• 18:46
  Speaker 5: Definitely, And I still feel as though I'm somewhat actually
• 18:49
  Speaker 5: in that analysis paralysis, And that's why I haven't dedicated
• 18:52
  Speaker 5: a portion of my monthly say things towards investing. Yeah,
• 18:57
  Speaker 5: in the beginning, I definitely did, but I was just
• 18:59
  Speaker 5: started with what I was comfortable with losing, because at
• 19:02
  Speaker 5: the end of the days is still a risk. So
• 19:04
  Speaker 5: at that time five hundred dollars. Whilst it would be
• 19:06
  Speaker 5: sad to see.
• 19:07
  Speaker 2: It go, it not be the end of the world
• 19:09
  Speaker 2: for you.
• 19:09
  Speaker 5: Yes, exactly want to be the end of the world.
• 19:11
  Speaker 5: And one last password to remember. To be honest, I
• 19:14
  Speaker 5: can't remember another password.
• 19:17
  Speaker 2: Oh, don't start me own passwords. I've just downloaded last
• 19:20
  Speaker 2: pass to keep track of all my passwords because at
• 19:22
  Speaker 2: this point I just can't be trusted now I can't remember,
• 19:26
  Speaker 2: So tell me more. We're going to jump into debt.
• 19:28
  Speaker 2: Now you've mentioned that you bought your first home first,
• 19:32
  Speaker 2: can you tell me a bit more about that journey.
• 19:33
  Speaker 2: How does someone at twenty one buy their first home?
• 19:36
  Speaker 2: Because I don't know if you know, but right now
• 19:38
  Speaker 2: we're in the middle of a cost of living crisis
• 19:40
  Speaker 2: and like everything's really expensive and interest rates her through
• 19:43
  Speaker 2: the roof. How did you get together a deposit? What
• 19:46
  Speaker 2: did that look like? And how did you purchase your
• 19:49
  Speaker 2: first home?
• 19:49
  Speaker 5: It's such a hard question when people ask me that
• 19:52
  Speaker 5: it really takes so much thought. But I guess from
• 19:55
  Speaker 5: the age of fourteen, I've had a job and I
• 19:57
  Speaker 5: have probably always had that mindset of giving myself fifty
• 20:01
  Speaker 5: dollars a week to spend, and anything left over is
• 20:05
  Speaker 5: savy things. And truly, even from when I was earning
• 20:07
  Speaker 5: one hundred dollars a week, I'd still give myself fifty
• 20:10
  Speaker 5: dollars for fun for whatever I was doing at fourteen,
• 20:13
  Speaker 5: and the other fifty dollars would always be saved.
• 20:16
  Speaker 2: So I have who taught you that? Who taught you that?
• 20:18
  Speaker 5: Like?
• 20:18
  Speaker 2: How did you have that self discipline?
• 20:20
  Speaker 5: I don't know, and I don't know where it's come from,
• 20:23
  Speaker 5: but I think tying back to when we first started
• 20:26
  Speaker 5: having that scarcity mindset, I always wanted to have something
• 20:30
  Speaker 5: left over, and the reason that I got my first job,
• 20:33
  Speaker 5: I still it's a pivotal memory for me, is that
• 20:36
  Speaker 5: I wanted to be able to put money on my
• 20:38
  Speaker 5: go card so that my mom didn't have to worry
• 20:40
  Speaker 5: about it.
• 20:41
  Speaker 2: So you love that.
• 20:43
  Speaker 5: That's probably a core memory that stuck with me. But
• 20:46
  Speaker 5: in terms of how I got that mindset, I would
• 20:48
  Speaker 5: say probably come from the scarcity mindset around it wanting
• 20:53
  Speaker 5: to have back up in case I needed to give
• 20:55
  Speaker 5: it to my mom or in case I had a
• 20:57
  Speaker 5: bill that was unexpected. I don't know what bills I'm
• 20:59
  Speaker 5: having it four, but that.
• 21:00
  Speaker 2: You might but that's stressful, and you probably saw your
• 21:03
  Speaker 2: mum have unexpected bills and you were like, well, I
• 21:05
  Speaker 2: don't want to be in that position. And I know
• 21:07
  Speaker 2: that the answer to that is actually having cash available,
• 21:10
  Speaker 2: so I'm going to do that.
• 21:11
  Speaker 5: Yes percent, So then yeah, I just continued to save,
• 21:16
  Speaker 5: and that transformed into the more that I owned, the
• 21:19
  Speaker 5: more that I saved. And probably you know, a good
• 21:22
  Speaker 5: habit that I do have is the less outgoing, the better.
• 21:26
  Speaker 5: So even every year now, I still review how much
• 21:29
  Speaker 5: I'm paying for insurance or my phone bill, and the
• 21:33
  Speaker 5: most that I can reduce that buy is better. No
• 21:35
  Speaker 5: matter how much I earn, I want minimal expenses because
• 21:38
  Speaker 5: then the money left over I can do whatever I want.
• 21:41
  Speaker 2: I love that. So tell me more about this property.
• 21:44
  Speaker 2: What did you save for a deposit, what did you
• 21:46
  Speaker 2: purchase for and what's your current debt.
• 21:48
  Speaker 5: I actually used one of the first home buyers schemes.
• 21:52
  Speaker 5: I know you'll be happy.
• 21:53
  Speaker 2: So smart. Oh, I love that. I love that. I
• 21:56
  Speaker 2: was talking about it yesterday at work, like there's a
• 21:58
  Speaker 2: few schemes at the moment that we've got a couple
• 22:01
  Speaker 2: of clients like doubling up on and I'm like, this
• 22:03
  Speaker 2: is great, Like it's like it just feels like the
• 22:05
  Speaker 2: biggest hack in the world.
• 22:07
  Speaker 5: Right, Yes, yes, especially the free stamp duty for first
• 22:11
  Speaker 5: home buyers now in Queen Zone under seven fifty that
• 22:15
  Speaker 5: we just missed out on. So I think in total, yes,
• 22:18
  Speaker 5: we use the five percent deposit government guaranteur scheme because
• 22:23
  Speaker 5: for us, location mattered and I knew that we'd need
• 22:26
  Speaker 5: to purchase a home that required work, so I wanted
• 22:29
  Speaker 5: to keep some of our savings in reserve so that
• 22:32
  Speaker 5: we can do up the house. And my partner is
• 22:35
  Speaker 5: a carpenter, so he can also do the reinose. So
• 22:39
  Speaker 5: how good. Yeah, I think in total with the stamp duty,
• 22:42
  Speaker 5: I think it was about fifty just over fifty thousand
• 22:45
  Speaker 5: dollars we were required for our deposit there, and we
• 22:49
  Speaker 5: ended up purchasing. Initially we offered six eighty five, but
• 22:54
  Speaker 5: then we're able to do a little bit of negotiations.
• 22:56
  Speaker 5: I put my big girl pants on and knocked it
• 22:59
  Speaker 5: down to six sixty after building in Pest, So that's
• 23:02
  Speaker 5: the final price that we paid.
• 23:04
  Speaker 2: So you purchased for six sixty. What's your mortgage currently
• 23:07
  Speaker 2: sitting at and how long have you had it for
• 23:09
  Speaker 2: It is.
• 23:10
  Speaker 5: Currently sitting at just over six hundred thousand, and we've
• 23:15
  Speaker 5: had it since April.
• 23:16
  Speaker 2: Oh, very nice. And how does that feel when interest
• 23:20
  Speaker 2: rates are arguably a lot higher than they used to be?
• 23:23
  Speaker 2: I mean, thankfully you probably purchased when the interest rates
• 23:27
  Speaker 2: were much higher than you know, one or two percent,
• 23:29
  Speaker 2: so it wasn't as rude of a shock. But how
• 23:32
  Speaker 2: now you're paying a mortgage? Are you managing pretty good?
• 23:35
  Speaker 5: I mean with an offset that we now have attached
• 23:38
  Speaker 5: to our mortgage. For me, I thought, if I'm buying
• 23:41
  Speaker 5: at the top of the peak, or if I if
• 23:44
  Speaker 5: I'm buying where interest rates are quite high, then if
• 23:49
  Speaker 5: they ever come down, then it will just be positive
• 23:51
  Speaker 5: money that we can be adding towards paying down the mortgage.
• 23:55
  Speaker 5: So it is scary, like seeing how much money goes
• 23:58
  Speaker 5: out every week and you think, oh my god, is
• 24:00
  Speaker 5: it really one thousand dollars a week in repayments? But
• 24:03
  Speaker 5: I know that, yes, something has to changed. Well I
• 24:07
  Speaker 5: believe that something has to change, and hopefully it won't
• 24:09
  Speaker 5: be like that for the whole next thirty years of
• 24:12
  Speaker 5: our lone life. But yeah, we manage.
• 24:14
  Speaker 2: It's crazy, right, all right? Well, I'm honestly so shook
• 24:18
  Speaker 2: this far. Like I just feel like you have made
• 24:21
  Speaker 2: the most of it. Like, first question, before I get
• 24:25
  Speaker 2: to my structured question, what's your mum think of this?
• 24:28
  Speaker 2: Like is she just like super proud because coming from
• 24:32
  Speaker 2: a single parent household and knowing the money story of
• 24:36
  Speaker 2: most single parents, like it's bloody hard, Like you're cutting
• 24:39
  Speaker 2: your teeth, you're working extra hours, you're doing the most
• 24:42
  Speaker 2: to put your kid in the best possible position, and
• 24:44
  Speaker 2: like so many times you see single mums doubting themselves
• 24:47
  Speaker 2: and feeling like they're not doing the right thing because
• 24:49
  Speaker 2: the kid didn't have, you know, the shiniest thing at
• 24:50
  Speaker 2: school and all the other kids had that, and you
• 24:53
  Speaker 2: just I can see that mums crucify themselves over this,
• 24:57
  Speaker 2: but you've kind of like come through this. How's your
• 25:00
  Speaker 2: mom feel now about all of this? Because like if
• 25:02
  Speaker 2: I was your mum, holy moly, I'd be so proud.
• 25:06
  Speaker 5: Thank you. It's actually funny. I had told my mom
• 25:09
  Speaker 5: that I'm coming onto this podcast, and I'm like, oh,
• 25:12
  Speaker 5: but you know, they might not believe me, Like it
• 25:14
  Speaker 5: sounds pretty wild when I say all this stuff back
• 25:17
  Speaker 5: and she's like, no, you did this. You own it.
• 25:19
  Speaker 5: You literally are the one who worked for it. No
• 25:22
  Speaker 5: one handed you anything. So she is super proud. And
• 25:25
  Speaker 5: she always says that I've raised a savage and you
• 25:29
  Speaker 5: know that actual Yes, yeah, so no, she is super proud.
• 25:34
  Speaker 5: And I do owe you know, a lot of it
• 25:36
  Speaker 5: to her in fostering I guess my mindset from the beginning.
• 25:40
  Speaker 5: She would obviously sit out the front whilst I sold
• 25:42
  Speaker 5: the loom bands and whatever crazy idea that I had.
• 25:46
  Speaker 5: I think I even sold ear rings like I made
• 25:48
  Speaker 5: ear rings from eBay. I used to glue the backs
• 25:51
  Speaker 5: onto the little rose and sell them at her salar.
• 25:54
  Speaker 2: Oh my gosh.
• 25:55
  Speaker 5: I love that she really fostered that mindset and I
• 25:58
  Speaker 5: think that's a lot of I've transformed to continue to
• 26:02
  Speaker 5: have that mindset. Now. She could have very easily probably
• 26:05
  Speaker 5: squashed that mindset and said no, don't be ridiculous, and
• 26:08
  Speaker 5: I would have been a lot more confined. So yeah,
• 26:11
  Speaker 5: I have a lot of empathy and I owe a
• 26:13
  Speaker 5: lot of it to her. Yeah.
• 26:15
  Speaker 2: Oh, I love that. I hope she listens to this
• 26:17
  Speaker 2: and here's to hi mum. Also, while you're here, can
• 26:22
  Speaker 2: you send me all your parenting tips because I too
• 26:25
  Speaker 2: would like to raise a savage like that's that's where
• 26:28
  Speaker 2: my mindset is at right now. I'll take all the tips,
• 26:31
  Speaker 2: all the tricks, thank you, and spy, I have to
• 26:33
  Speaker 2: ask your daughter some more questions. Now, Money Diarist back
• 26:37
  Speaker 2: to you. What's your best money habit?
• 26:40
  Speaker 5: I would say probably that I'm naturally drawn to the
• 26:45
  Speaker 5: cheapest price, which is not always good. But I'm naturally
• 26:48
  Speaker 5: drawn to the sale sticker or the items that are
• 26:52
  Speaker 5: on sale. I mean, every Monday six pm, Woollies releases
• 26:56
  Speaker 5: the catalog for the specials for the following.
• 26:58
  Speaker 2: Week, and I show, Oh my gosh, you even know
• 27:01
  Speaker 2: the time. I'm obsessed with you. It's my I would
• 27:04
  Speaker 2: do you know what I read them? Wouldn't be able
• 27:06
  Speaker 2: to tell you when they come out, Like, so you're
• 27:09
  Speaker 2: telling me six pm on a Friday? Is that right?
• 27:11
  Speaker 5: On a Monday?
• 27:12
  Speaker 2: Sorry? Six pm on a Monday? All right, I'm going
• 27:14
  Speaker 2: to put it in my diary.
• 27:15
  Speaker 5: Yeah, And then the specials begin from the Wednesday, so
• 27:18
  Speaker 5: you've got a bit of time to protect you spend
• 27:20
  Speaker 5: time to make your budget yep, yep, and shop online.
• 27:24
  Speaker 5: Use the Woolies app because you can see how much
• 27:27
  Speaker 5: you're spending whereas when you go into the shop, you
• 27:29
  Speaker 5: just chuck stuff into your cart and then you're like
• 27:32
  Speaker 5: me two hundred bucks.
• 27:33
  Speaker 2: Later, so oh my gosh. So do you then see
• 27:37
  Speaker 2: all the specials on a Monday and go all right, well,
• 27:39
  Speaker 2: I can see the beef's on sale, like I'm going
• 27:41
  Speaker 2: to make beef dishes this week? Is that what happens?
• 27:44
  Speaker 2: And then if you've got like a repertoire of recipe,
• 27:46
  Speaker 2: like how does this work? And how are you twenty one?
• 27:48
  Speaker 5: Again? What what I do is we cook dinners at
• 27:52
  Speaker 5: home Sunday through to Thursday, and I plan all of
• 27:55
  Speaker 5: the meals based on what's on sale. So I like
• 27:58
  Speaker 5: a certain butter chicken, so if it's half priced, we're
• 28:01
  Speaker 5: having a pot of chicken for the week.
• 28:03
  Speaker 2: And it's right, buy.
• 28:04
  Speaker 5: Your chicken breast from the deli, not in the package section,
• 28:08
  Speaker 5: because it's ten dollars eleven dollars a kilo, not seventeen
• 28:12
  Speaker 5: dollars kio.
• 28:13
  Speaker 2: So what is that the price difference?
• 28:15
  Speaker 5: Yeah? For really, yeah, it's like eleven dollars for chicken
• 28:19
  Speaker 5: breast at the deli. I kind of wash it because
• 28:21
  Speaker 5: it looks a little bit, you know, slimy, but that's
• 28:24
  Speaker 5: so controversial.
• 28:26
  Speaker 2: Actually, I feel like I was having this conversation with
• 28:28
  Speaker 2: a friend the other day, and I always wash my
• 28:30
  Speaker 2: meat like I'd like, rinse my chicken. I don't rinse
• 28:34
  Speaker 2: steak funnily enough, but I rinse my chicken and all
• 28:37
  Speaker 2: my seafood.
• 28:37
  Speaker 5: I do that. I do the same.
• 28:39
  Speaker 2: And she was like, why do you do that? Like
• 28:41
  Speaker 2: you're cooking it anyway, and I'm like, nop, nop, that
• 28:43
  Speaker 2: slimy stuff got to go.
• 28:44
  Speaker 5: Make them feel better. Yeah, one hundred percent. So yeah,
• 28:47
  Speaker 5: probably just that I have always been money concious. Even
• 28:50
  Speaker 5: when I go out for dinner, I don't get a drink,
• 28:53
  Speaker 5: not because I'm depriving myself of being thirsty, but because
• 28:56
  Speaker 5: I don't need the coke, I don't need the whatever.
• 28:59
  Speaker 5: I'll just have the tablewoader. It's all good.
• 29:01
  Speaker 2: So yeah, she's savvy, savvy. That's god savvy. I love it.
• 29:09
  Speaker 2: It's really specific too, like it's not it's like, all right,
• 29:13
  Speaker 2: so Monday like money habit. People are usually like less specific.
• 29:17
  Speaker 2: They're like, I'm pretty good at budgeting and I go, okay, cool,
• 29:19
  Speaker 2: and you're like no, no, no, So my best budgeting hack
• 29:21
  Speaker 2: is at six pm on Mondays, the Woolies Catalog comes
• 29:25
  Speaker 2: out and you can then budget so that Wednesday you
• 29:28
  Speaker 2: purchase your groceries and you are done. You're an icon.
• 29:33
  Speaker 2: I know that other people are going to start doing this.
• 29:35
  Speaker 5: I love this. I hope that it helps someone.
• 29:39
  Speaker 2: You're a genius.
• 29:40
  Speaker 5: All right.
• 29:40
  Speaker 2: Now, tell me your worst money have Do you even
• 29:43
  Speaker 2: have worst money habits?
• 29:45
  Speaker 5: I do? I do. And the one thing that I'm
• 29:47
  Speaker 5: super conscious of is probably sometimes I get into this
• 29:51
  Speaker 5: yolo mindset. I'm like, yeah, I work really hard, and
• 29:56
  Speaker 5: I you know, I work hard for my money, and
• 29:59
  Speaker 5: I save a lot of money every month, and sometimes
• 30:02
  Speaker 5: I deserve it. Let's just buy a jet ski. And
• 30:05
  Speaker 5: so I've owned two jet skis and I still have one.
• 30:08
  Speaker 2: Sorry what I did not see? Sorry? Sorry, sorry, sorry,
• 30:12
  Speaker 2: just a backtrack. We were just talking about how good
• 30:14
  Speaker 2: you were at the Woolies Catalog and then you're like,
• 30:18
  Speaker 2: jet skis.
• 30:20
  Speaker 1: What?
• 30:21
  Speaker 5: Yeah, oh gosh, it's pretty funny.
• 30:25
  Speaker 2: Do you ride these jet ski Like? Please tell me
• 30:27
  Speaker 2: how this fits into your lifestyle? Do you live by
• 30:30
  Speaker 2: the water, Like, tell me more.
• 30:31
  Speaker 5: I do? I do. I live like five minutes from
• 30:34
  Speaker 5: the water, So yeah, I do. I do ride them? Well,
• 30:39
  Speaker 5: during summer, but I'm actually selling it. I buy them,
• 30:42
  Speaker 5: I have some fun, and then I sell them to
• 30:44
  Speaker 5: They don't go down because it's definitely not an asset.
• 30:47
  Speaker 5: They cost a lot of money, but it's fun. So
• 30:49
  Speaker 5: this is what I mean by these yolo mindsets. I go, ah,
• 30:53
  Speaker 5: it's all.
• 30:54
  Speaker 2: Great, okay, So tell me more about this jet ski.
• 30:56
  Speaker 2: I need to know. I don't even know what a
• 30:57
  Speaker 2: jet ski costs, what's a jet ski class, how does
• 31:00
  Speaker 2: it work? How much does it cost you to run?
• 31:02
  Speaker 2: Tell me all of it? And how often do you
• 31:04
  Speaker 2: even use this? Because at the start of this episode,
• 31:07
  Speaker 2: you're earning one hundred and fifteen thousand dollars plus super
• 31:10
  Speaker 2: plus a car, plus you have a beauty business, plus
• 31:12
  Speaker 2: you do disability support work. When a you're riding this
• 31:15
  Speaker 2: jet ski bag.
• 31:15
  Speaker 5: Well, that's my problem is I get into this mindset.
• 31:18
  Speaker 5: I'm like, yeah, well then I go every Sunday, and
• 31:20
  Speaker 5: then Sunday comes around and I'm busy. So a jetski
• 31:23
  Speaker 5: it depends, like you know, you can get a brand
• 31:26
  Speaker 5: new one for twenty five thousand dollars, but I'll just
• 31:28
  Speaker 5: get my Facebook marketplace and I think I got it
• 31:32
  Speaker 5: for like thirteen thousand, the most recent one, and I
• 31:35
  Speaker 5: hope to sell it for the same, okay, but in summer,
• 31:37
  Speaker 5: so I'm holding it until summer because that's when they're
• 31:40
  Speaker 5: worth more. Right now, people don't want to buy jetskis
• 31:42
  Speaker 5: because it's winter.
• 31:43
  Speaker 2: Okay. She's an investing icon. She she knows how to
• 31:47
  Speaker 2: invest in money.
• 31:48
  Speaker 5: It's just sitting there at the moment in the yard.
• 31:51
  Speaker 2: You're a jet ski flipper, yes.
• 31:54
  Speaker 5: Yes, yes, my first time that I've ever owned. I
• 31:57
  Speaker 5: sold for five hundred dollars more than I bought it for.
• 32:00
  Speaker 2: So okay, so you got paid to go riding jet
• 32:03
  Speaker 2: ski basically, not just petrol cost in a jet ski.
• 32:06
  Speaker 5: It's probably like I put fifty dollars in, or like
• 32:08
  Speaker 5: I'll fill up the tank before I go out every
• 32:10
  Speaker 5: time close. If I get stuck in the ocean, I
• 32:12
  Speaker 5: need a full tank, So probably fifty dollars. So that's
• 32:16
  Speaker 5: what I mean is it's not it's not very smart
• 32:18
  Speaker 5: financially though, to fill it up every week fifty bucks,
• 32:21
  Speaker 5: and then if you get insurance.
• 32:23
  Speaker 2: All I do the same. There's absolutely no chance that
• 32:25
  Speaker 2: I would be riding a jet ski that didn't have
• 32:28
  Speaker 2: a full tank like I'm in the ocean, Like, no
• 32:31
  Speaker 2: one's going to drive past and be like, do you
• 32:33
  Speaker 2: need a lift?
• 32:34
  Speaker 5: Exactly exactly right? And then yeah, if you have insurance
• 32:37
  Speaker 5: on them, it's like three hundred dollars a month.
• 32:39
  Speaker 2: Wait, what three hundred dollars a month? Three insurance on
• 32:41
  Speaker 2: a jet ski because.
• 32:42
  Speaker 5: Of how many accidents happen on them in the water.
• 32:45
  Speaker 2: Wow, So tell me about this. So we're holding our
• 32:47
  Speaker 2: jet ski, We're going to sell it coming into summer. Yes,
• 32:51
  Speaker 2: that's quite smart. Would you buy another jet ski?
• 32:53
  Speaker 5: No? No, I need to keep that money in our
• 32:56
  Speaker 5: offset and be working hard for me because this interest
• 33:00
  Speaker 5: that I'm paying every month is very sad of me.
• 33:02
  Speaker 2: What are you going to do instead of jet ski?
• 33:04
  Speaker 2: Because I feel like you've got this like adventurous spirit,
• 33:07
  Speaker 2: You're going to need some kind of outlet. What's that
• 33:09
  Speaker 2: going to be?
• 33:09
  Speaker 5: I don't really use it now? Okay, Yeah, so I
• 33:13
  Speaker 5: kind of feel like I'll be all right. I just
• 33:15
  Speaker 5: go for go to the gym, get a coffee, go
• 33:17
  Speaker 5: for a walk, climb a mountain instead, maybe swim in
• 33:21
  Speaker 5: the ocean instead of ride on the ocean.
• 33:24
  Speaker 2: See, this is a really good example of how you
• 33:27
  Speaker 2: can never predict someone's worst or best money habits or
• 33:31
  Speaker 2: what's going to come out, because had we tried to
• 33:34
  Speaker 2: play a game of guessing, we would have been wildly inaccurate. Yes, yes,
• 33:40
  Speaker 2: and I guess that's why I love money doughs. Okay,
• 33:42
  Speaker 2: So at the start of the episode, you told us
• 33:45
  Speaker 2: that your money grade was a solid Bee. Now I'd
• 33:49
  Speaker 2: probably argue with that because in my mind, you're still
• 33:52
  Speaker 2: twenty one and you are killing it at life. But
• 33:54
  Speaker 2: I want to know a bit more about why you
• 33:56
  Speaker 2: think you're a bee and what it might take to
• 33:58
  Speaker 2: get you to an a play.
• 34:00
  Speaker 5: It's probably still this frivolous or like yolo mindset that
• 34:04
  Speaker 5: I keep referring to. Is sometimes I go, ah, I
• 34:07
  Speaker 5: need some new running shoes, let's just do it. I
• 34:10
  Speaker 5: have implemented a system that I have just done, but
• 34:15
  Speaker 5: hopefully that will help in aiding me to have more
• 34:18
  Speaker 5: just a little bit of barriers around that. So the
• 34:21
  Speaker 5: money that I earn from lashes, I get it out
• 34:24
  Speaker 5: into cash and I have one of those cash books,
• 34:27
  Speaker 5: and they each have a different purpose. So one's like
• 34:29
  Speaker 5: shopping and one's like beauty or miscellaneous or whatever. One
• 34:34
  Speaker 5: of them is also yeah, miscellaneous because I'm paid monthly,
• 34:39
  Speaker 5: but some months there's five weeks or there's an extra Wednesday,
• 34:44
  Speaker 5: and I'm paid on the last Wednesday every month, and
• 34:46
  Speaker 5: then I put money away for that. So I think
• 34:48
  Speaker 5: it's budget based on four weeks. Makes it feel like
• 34:51
  Speaker 5: I'm saving more.
• 34:52
  Speaker 2: Yeah, no, that's fair. What's your budgeting system look like
• 34:54
  Speaker 2: right now for.
• 34:56
  Speaker 5: The side hustle money or including.
• 34:58
  Speaker 2: Everything everything okay? Or if you've got separate budgets for
• 35:01
  Speaker 2: each income I do? Is that what I'm hearing?
• 35:04
  Speaker 1: Right?
• 35:04
  Speaker 2: So tell me more about this.
• 35:06
  Speaker 5: So the beauty money as well as the disability support money,
• 35:11
  Speaker 5: when it does come through, I get it out some
• 35:13
  Speaker 5: people paying cash, but if not, I get it all
• 35:16
  Speaker 5: out in cash, and I put it into this little book,
• 35:18
  Speaker 5: so I will divide it between ones for investing, ones
• 35:21
  Speaker 5: for shopping, and that way, when I want to shop,
• 35:25
  Speaker 5: if I don't have money in my little pouch, I
• 35:26
  Speaker 5: can't go shopping. Instead of developing this frivolous oh, I
• 35:30
  Speaker 5: don't put money away for shopping, I've started to do
• 35:33
  Speaker 5: that and that that way, that money feels like it's
• 35:35
  Speaker 5: working towards something fun, not paying for bills, and then
• 35:39
  Speaker 5: my normal salary can be well, obviously, Yeah, I send
• 35:43
  Speaker 5: a certain amount to my bill's account, and that's purely
• 35:46
  Speaker 5: because I don't want them coming out of my offset account,
• 35:50
  Speaker 5: just a way to help me feel better like I'm
• 35:52
  Speaker 5: still managing my money. I know that the more money
• 35:54
  Speaker 5: in there the better, and then the rest.
• 35:57
  Speaker 2: No, that makes sense. We've also got to have like
• 35:59
  Speaker 2: a healthy mind set around our money, and if it's
• 36:01
  Speaker 2: stressing us, it's not worth it.
• 36:03
  Speaker 5: Yes, yes, that's right. And I'm like the extra few
• 36:06
  Speaker 5: dollars of interest that I might have saved for the
• 36:08
  Speaker 5: sanity that it gives me to make me feel in
• 36:10
  Speaker 5: control of my money. Oh, let it be now.
• 36:12
  Speaker 2: I don't know if you know this or you need
• 36:15
  Speaker 2: to talk to your broker about this, but if you
• 36:18
  Speaker 2: currently have an offset, there is a very high chance
• 36:21
  Speaker 2: that you're allowed multiple offsets, So you might be able
• 36:24
  Speaker 2: to establish a few more offsets so that you can
• 36:28
  Speaker 2: still separate your business and not feel too bad. But
• 36:30
  Speaker 2: you're still making the most of the interest, but it
• 36:33
  Speaker 2: is segregated and it doesn't feel like it's coming out
• 36:35
  Speaker 2: of your quote savings account. But while it's sitting there,
• 36:38
  Speaker 2: it's still offsetting your interest. So that might be something
• 36:41
  Speaker 2: that you ask your broker about gotch because that might
• 36:44
  Speaker 2: be really sexy.
• 36:45
  Speaker 5: Yes, and I think we do.
• 36:46
  Speaker 2: You still want it separate, and I totally get that.
• 36:48
  Speaker 5: I still want it separate, but I think we may.
• 36:51
  Speaker 5: We did speak about this, and we have to split
• 36:53
  Speaker 5: the loan in order to have two offsets, or you
• 36:55
  Speaker 5: pay extra fees for a second offset.
• 36:57
  Speaker 2: Oh no, thank you. In that case, I'll depart with that.
• 37:00
  Speaker 5: So, yeah, I get to certain amount to the bills
• 37:02
  Speaker 5: and then literally the rest just goes to offset the
• 37:05
  Speaker 5: interest and we live off the credit card and then
• 37:07
  Speaker 5: we pay it. So that's very new though, that's very
• 37:10
  Speaker 5: different to how I used to manage my money. That
• 37:12
  Speaker 5: we used to have a credit card, but now I've
• 37:15
  Speaker 5: kind of done that for the points hacking as well
• 37:17
  Speaker 5: to get a few holidays.
• 37:18
  Speaker 2: Smart woman, Ann, are you responsible with your credit card?
• 37:21
  Speaker 5: I am? I am. You actually live in the back
• 37:23
  Speaker 5: of my mind when I think about it.
• 37:25
  Speaker 2: Because you're like Victoria wouldn't be smart with this. I
• 37:27
  Speaker 2: can be better than her.
• 37:29
  Speaker 5: She tells me.
• 37:29
  Speaker 2: Don't tap, tap tap, no tapping, no tapping. Research tells
• 37:34
  Speaker 2: us that people who have credit cards spend twenty two
• 37:37
  Speaker 2: percent more than people who use a debit card. Oh my,
• 37:40
  Speaker 2: that's terrified, So no, tappy, tappy.
• 37:42
  Speaker 5: No, no, no, no, no, no.
• 37:44
  Speaker 2: Oh my gosh, money, Dirice. This has been an absolute pleasure.
• 37:48
  Speaker 2: I feel like I've learned so much from knowing how
• 37:50
  Speaker 2: to get the cheapest price by looking out for the
• 37:53
  Speaker 2: Woollies catalog on a Monday and going shopping on a Wednesday,
• 37:56
  Speaker 2: to how to impulse purchase jet skis responsibly. This has
• 38:00
  Speaker 2: been a ride. I've loved it. Sadly, it is all
• 38:04
  Speaker 2: we have time for today, so I'm really grateful that
• 38:07
  Speaker 2: you've shared I guess all of this with us. It's
• 38:10
  Speaker 2: so inspiring to see someone so young doing so well,
• 38:14
  Speaker 2: and it just makes me so happy. Future is looking
• 38:18
  Speaker 2: brut I'm really excited for you and your partner, and
• 38:21
  Speaker 2: I'm just so excited that you've gotten here, So congrats
• 38:24
  Speaker 2: on the first home and everything that you've achieved thus far.
• 38:27
  Speaker 2: I can't wait till, hopefully in a few years tap
• 38:29
  Speaker 2: you on the shoulder and ask to do an updated
• 38:31
  Speaker 2: money diary. So let's wait out for that.
• 38:34
  Speaker 5: Thank you so much for having me, and I really
• 38:35
  Speaker 5: do hope that this can give someone a little bit
• 38:38
  Speaker 5: of inspiration and that I can listen to this in
• 38:40
  Speaker 5: ten years time and go who was she? Where is
• 38:43
  Speaker 5: she now?
• 38:43
  Speaker 2: Oh my gosh, I love it. Thank you so much,
• 38:45
  Speaker 2: it has been a pleasure. Did By shared on She's
• 38:54
  Speaker 2: on the Money is general in nature and does not
• 38:57
  Speaker 2: consider your individual circumstances. She's on the Money exists purely
• 39:01
  Speaker 2: for educational purposes and should not be relied upon to
• 39:04
  Speaker 2: make an investment or financial decision. If you do choose
• 39:07
  Speaker 2: to buy a financial product.
• 39:09
  Speaker 6: Read the PDS TMD and obtain appropriate financial advice.
• 39:12
  Speaker 2: Tailored towards your needs.
• 39:14
  Speaker 6: Victoria Divine and Sheese on the Money are authorized representatives
• 39:18
  Speaker 6: of Money Sherper Pty Ltd a BN three two one
• 39:22
  Speaker 6: six four nine two seven seven zero eight AFSL four
• 39:26
  Speaker 6: five one two eight nine