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She Was Avoiding Her Bank App and Blowing Her Budget... Now She’s Saved $60K · She's On The Money

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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud Yr
0:04
Speaker 1: the Order Kerni Whaltbury 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.
0:33
Speaker 2: Let's get into it.
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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 podcast
1:00
Speaker 2: you be pervy about other people's money stories for educational
1:03
Speaker 2: purposes of course, Welcome back to another one of our
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Speaker 2: Money Diaries episodes where I get the absolute pleasure of
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Speaker 2: sitting down with one of our beautiful She's on the
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Speaker 2: Money community members and chatting to them all about their journey.
1:15
Speaker 2: Let's jump straight into it, because this week I got
1:17
Speaker 2: a message and it sounded exactly like this, Hi, she
1:20
Speaker 2: Is on the Money. I recently found your podcast and
1:22
Speaker 2: have become a little bit obsessed with it. It's become
1:25
Speaker 2: my ADHD hyperfocus. If you know, you know, I have
1:29
Speaker 2: a budget and even a fancy spreadsheet in it. We've
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Speaker 2: allocated seven hundred dollars per fortnight between my husband and
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Speaker 2: I to spend on whatever we like, but I normally
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Speaker 2: spend ninety five percent of that, plus about another five
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Speaker 2: hundred dollars that I hide from my husband. I am
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Speaker 2: full of shame, but the dovermine chasing is real, and
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Speaker 2: I just don't know how to switch my thinking and
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Speaker 2: focus on paying down my mortgage, which is actually our
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Speaker 2: main goal. Money Diarist, I am so excited to be
1:56
Speaker 2: talking about this because I think that some people are
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Speaker 2: listening to this going, oh my god, relatable, Like I've
2:02
Speaker 2: got questions. But as always, I'm going to start the
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Speaker 2: money dory in the same way I always do. Money Doris.
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Speaker 2: If I asked you to give your money habits a
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Speaker 2: grade from A through to F, what grade do you
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Speaker 2: think we would give them?
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Speaker 4: Actually think at the moment I've risen a little at
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Speaker 4: an as.
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Speaker 2: Still an a minus. All right, money Doris, I need
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Speaker 2: to know tell me a little bit more about your
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Speaker 2: money story.
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Speaker 4: So, growing up, my family was very frugal, like walking
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Speaker 4: around the shopping center with a calculator, just making sure
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Speaker 4: we didn't go over budget. I was always told we
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Speaker 4: didn't have very much money, so I never asked for anything.
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Speaker 4: What that sort of caused is as I became an adult,
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Speaker 4: all of a sudden, I had things, and I was
2:43
Speaker 4: never really taught to manage my money particularly well. But
2:47
Speaker 4: I met my husband when I was seventeen.
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Speaker 2: Oh my god, cut We've been together for twenty years now,
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Speaker 2: no stop it.
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Speaker 4: And he was always really good with money, so I
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Speaker 4: tried to learn from him. In twenty eighteen, we built
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Speaker 4: our first house after saving really hard. And then a
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Speaker 4: few years ago I approached a financial advisor just because
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Speaker 4: I felt like, you know, we had no insurances, had
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Speaker 4: no will, My super was a mess. So I engaged
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Speaker 4: with them, and I hated every minute of it. In
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Speaker 4: the sense that they were wonderful, but they took my
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Speaker 4: control away, and it was everything they were telling me
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Speaker 4: was right. It was just that I didn't want to
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Speaker 4: be told how much I could spend. I didn't want accountability.
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Speaker 2: That's very adhd of you.
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Speaker 4: I was paying them a lot of money to give
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Speaker 4: me that, so they did my will they changed my
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Speaker 4: super they put me on Income Protection Insurance TPD, basically
3:44
Speaker 4: just secured my life for me. And then at the
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Speaker 4: start of last year, I became very mentally unwell and
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Speaker 4: I required six weeks of hospitalization. While I was in
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Speaker 4: that hospital, my financial advisor just put on a cape
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Speaker 4: just like looked after me and my family, and he
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Speaker 4: did all the paperwork and I don't only ever have
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Speaker 4: something slid under me for a signature. And I ended
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Speaker 4: up getting nine months of income protection because of him,
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Speaker 4: and we would have been an absolute strife without that.
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Speaker 4: Then I was able to return to work November last year,
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Speaker 4: where actually now we've sold our old house and we're
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Speaker 4: building our dream house. Oh yeah, so in the past
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Speaker 4: twelve months it's been really turbulent. But come out the
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Speaker 4: other side.
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Speaker 2: Oh my goodness, how are you feeling now, because that
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Speaker 2: feels like a whirlwind. And I mean, I don't think
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Speaker 2: anyone is ever prepared for, like mental illness to take
4:42
Speaker 2: us kind of take us down like that, like six
4:44
Speaker 2: weeks out for the count, Like that's big. You can't
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Speaker 2: plan these things. So like, how's life now?
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Speaker 4: I still have some of the I guess scars you
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Speaker 4: could say my feelings can get hurt a little bit easily.
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Speaker 4: I don't have the resilience that I used to, but
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Speaker 4: I'm also a loe stronger in a lot of ways.
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Speaker 4: I know that I can come from essentially not wanting
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Speaker 4: to be alive to thriving. And I'm really proud of
5:08
Speaker 4: myself for that.
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Speaker 2: I am so proud of you. We haven't met in person,
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Speaker 2: but I already know I've obsaysed with you. But also
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Speaker 2: this self awareness, like for someone to be able to say, yeah, look,
5:20
Speaker 2: my resilience is really down, like I'm sorry. People don't
5:24
Speaker 2: usually have that level of self awareness about themselves to
5:27
Speaker 2: be like, look, my feelings can be hurt a little
5:30
Speaker 2: bit easier, Like most people just deny until they like
5:33
Speaker 2: that is not something that people are willingly going to
5:37
Speaker 2: admit most of the time, and if they do, it's
5:39
Speaker 2: after like twenty years of therapy, babe, Like they're like, yeah, actually,
5:43
Speaker 2: maybe my therapist was right, Like my feelings do get
5:45
Speaker 2: hurt a little bit easier, Like do you know what
5:47
Speaker 2: I mean? Like that self awareness that's iconics. I adore that,
5:52
Speaker 2: and I mean I don't adore that you went through that,
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Speaker 2: but I feel like you are definitely on the right
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Speaker 2: path and doing things that you know are hopefully making
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Speaker 2: sure that you are thriving into the future. Now you
6:03
Speaker 2: said that you've recently discovered the podcast Welcome to the Family.
6:06
Speaker 2: I'm very glad that you are here. But you're also
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Speaker 2: an ADHD queen, and I get that, Like when I
6:12
Speaker 2: find a new podcast that I am obsessed with. I'm
6:15
Speaker 2: not so much a money girl, because like I was
6:17
Speaker 2: a financial advisor, I'm like a true crime girl. But
6:19
Speaker 2: you best believe I'm listening to every single one of
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Speaker 2: those seven hundred episodes that that place has. It's basically
6:25
Speaker 2: all I'm going to live and breathe until it's done.
6:27
Speaker 2: So I kind of get that. But talk to me
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Speaker 2: about your budget and your spreadsheet because I kind of
6:31
Speaker 2: want to slip into the conversation about how you managed
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Speaker 2: to find five hundred bucks to hide from your husband.
6:36
Speaker 2: I just need to know, you know, asking for a friend.
6:40
Speaker 2: I suppose my.
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Speaker 4: Husband leaves one hundred percent of the finances to me
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Speaker 4: to pay the bills, so he never checks.
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Speaker 2: He trusts me, so it's not really hiding it from him.
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Speaker 4: Yes, it's easy to hide when he ate checking.
6:56
Speaker 2: Yeah exactly.
6:57
Speaker 4: So, Yeah, that was definitely a feeder of my shame.
7:00
Speaker 4: And I've actually I had an appointment with my therapist
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Speaker 4: about three weeks ago and she said, we need to
7:07
Speaker 4: like weaponize your ADHD.
7:09
Speaker 2: So in seve hundred percent.
7:10
Speaker 4: Chasing the dopamine change for spending, I'm going to say
7:13
Speaker 4: that I don't think you can save for six weeks.
7:16
Speaker 4: I think that you're going to buy shoes and you're
7:17
Speaker 4: going to buy clothes, and I don't believe you can
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Speaker 4: do it.
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Speaker 2: And I was like, right, this woman is using reverse
7:25
Speaker 2: psychology and goal it is working.
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Speaker 4: I knew I was being manipulated, but I have not
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Speaker 4: purchased one thing discretionary in three weeks.
7:35
Speaker 2: I'm obsessed. And then it just becomes a hyperfocus.
7:38
Speaker 4: Yes it has. And the issue with that is I'm
7:40
Speaker 4: such an all or nothing person. Now I'm like, do
7:43
Speaker 4: we really need that extra bag of peas?
7:47
Speaker 5: Yeah?
7:47
Speaker 2: Isn't it crazy how far you go? Like I feel
7:50
Speaker 2: like it is very hard to explain to somebody who
7:52
Speaker 2: doesn't have it when we say we're all or nothing,
7:54
Speaker 2: like it can be to our detriment, Like we're not
7:57
Speaker 2: just like, oh yeah, we can like lock in on
7:59
Speaker 2: a savings goal. Well, we can but we're also not
8:01
Speaker 2: eating for the week like we can. But also, I
8:04
Speaker 2: just sorry I sold our house, Like there's so many
8:07
Speaker 2: things that just like it's likely spiral, but like in
8:10
Speaker 2: the wrong direction to achieve the goal. So we might
8:14
Speaker 2: have achieved the goal, but like, sorry, we actually have
8:17
Speaker 2: nowhere to live and I sold all our furniture on
8:18
Speaker 2: Facebook marketplace. But we did save, and I did what
8:21
Speaker 2: I told you I was going to do exactly. So
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Speaker 2: money Diarist, talk to me about that seven hundred dollars
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Speaker 2: per fortnite, Like, how did you come up with that?
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Speaker 2: Because clearly it wasn't enough.
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Speaker 4: It was actually my financial advisor came up with it,
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Speaker 4: doing the percentages of how much myself and my husband earned,
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Speaker 4: and that's what he decided was enough. And honestly, when
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Speaker 4: I'm not being silly, it is more than enough. And
8:47
Speaker 4: we roll over to the next fortnite and we're able
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Speaker 4: to save. But it just shiny things and new things
8:54
Speaker 4: and that lifestyle creep, which I've learned about through your podcasts.
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Speaker 4: The new job I got in November was a significant
9:00
Speaker 4: pay increase, and all of a sudden, my skin care,
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Speaker 4: my clothes, everything has followed it. So I'm really trying
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Speaker 4: to pull that in.
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Speaker 2: So tell me a bit more about you. You told
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Speaker 2: me that you went back to work in November twenty
9:10
Speaker 2: twenty four. What do you do for work? How much
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Speaker 2: money do you win?
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Speaker 4: I'm a social worker and I specialize in domestic violence
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Speaker 4: and sexual assault.
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Speaker 2: Oh, my goodnurse, no wonder, she's so self aware. Oh
9:22
Speaker 2: special human being.
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Speaker 4: Yes, when they say at least to burnout, they're not joking.
9:27
Speaker 4: I earn one hundred and seventeen thousand a year.
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Speaker 2: Wow. And is that what most social workers in that
9:34
Speaker 2: space are getting paid? Or Yeah, I know you've been
9:36
Speaker 2: in the workforce for a while, Like how long did
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Speaker 2: it take you to achieve that income?
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Speaker 4: Yeah, it's definitely not. Social workers aren't paid great, generally,
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Speaker 4: more around the eighty mark. But I've been in the
9:47
Speaker 4: space for twelve years now, so I've worked my way
9:49
Speaker 4: up a little.
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Speaker 2: Yeah. And I'm assuming that when you said, look, I
9:53
Speaker 2: had like a mental health crisis, I'm assuming that burnout
9:56
Speaker 2: helped lead to all of that.
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Speaker 4: Yes, it did. One of my clients died and I
10:03
Speaker 4: just I was so disempowered and so sad that women
10:10
Speaker 4: keep dying. And I was working as hard as I
10:12
Speaker 4: possibly could, and it kept happening and I just hit
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Speaker 4: a wall and it took a really, really long time
10:18
Speaker 4: for me to come back with any kind of passion
10:22
Speaker 4: because it just feels like you're running up a hill
10:25
Speaker 4: and you can never reach the peak. Yeah.
10:27
Speaker 2: Wow, I'm listening to you talk and I'm just like,
10:29
Speaker 2: I've like got goosebumps because I'm like, oh, I like
10:33
Speaker 2: I'm not on the frontline of that, right, Like I
10:36
Speaker 2: am so privileged to get to hear these stories and
10:39
Speaker 2: you know, be part of supporting our community and we
10:42
Speaker 2: hear parts of it, and we definitely are replaced where
10:45
Speaker 2: people do feel safe to ask us questions about these
10:47
Speaker 2: things that they're experiencing, and we have this beautiful panel
10:50
Speaker 2: of people that we refer to. But like, you are
10:54
Speaker 2: such a special person to be in this position, to
10:56
Speaker 2: be able to give this advice and work in the
10:59
Speaker 2: domestic violin and sexual assault space and that would have
11:01
Speaker 2: been so traumatic, but the fact that you care so much. Oh,
11:06
Speaker 2: I can't think of a better person to be in
11:07
Speaker 2: this space. Like, can you imagine if after twelve years
11:11
Speaker 2: that didn't impact you, Like I would not want to
11:14
Speaker 2: be that person. Like you are an icon and the
11:18
Speaker 2: fact that you're back there, girl, be for real, Like
11:21
Speaker 2: you're like, okay, cool, I've gotten over that. I have
11:22
Speaker 2: work to do, i have people to help, like you
11:25
Speaker 2: are one of the best people. I adore that. Like,
11:28
Speaker 2: I'm just so excited to have met you. Thank you.
11:31
Speaker 2: Tell me a bit more. Obviously, thankfully you had income
11:35
Speaker 2: protection during that period of time that you were off work.
11:38
Speaker 2: But what are you currently when it comes to finances?
11:41
Speaker 2: What are currently your big goals? What are you working towards.
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Speaker 4: My goal is to pay off our mortgage, which is
11:47
Speaker 4: currently one point one four five million, and I want
11:52
Speaker 4: to pay that off in fifteen years. So that's going
11:55
Speaker 4: to work out to be around seventy grand a year
11:58
Speaker 4: on top of the mortgage.
12:00
Speaker 2: Need to know more because a one point one million
12:02
Speaker 2: dollar mortgage is a lot of money. Does your husband
12:06
Speaker 2: or partner have a similar income?
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Speaker 4: Yeah, he's on one hundred and forty.
12:10
Speaker 2: Oh very nice.
12:12
Speaker 4: Yeah, so we're just you know, I have all my spreadsheets.
12:15
Speaker 4: My spreadsheets even have pie charts. They really help me
12:19
Speaker 4: to stay focused. And we've got little mini goals along
12:22
Speaker 4: the way, because one point one million dollars is a
12:25
Speaker 4: really that's a long goal. So we have like every
12:29
Speaker 4: five years we want to go on a really big
12:31
Speaker 4: international holiday. Every one year we want to go, like
12:34
Speaker 4: to the Gold Coast or something like that. And I
12:37
Speaker 4: really want a Louis Vuitton never fool.
12:39
Speaker 2: Oh, I get it. I get it.
12:42
Speaker 4: So it's just about getting that across the line somehow.
12:44
Speaker 2: Oh, it'll get across the line at some point. Like
12:47
Speaker 2: it's an investment, Like the price of those keeps going up.
12:49
Speaker 2: So if I buy it now, I'm actually saving money
12:52
Speaker 2: in the future by not buying it in the future,
12:54
Speaker 2: because it would be way more expensive. Right, exactly, go math,
12:57
Speaker 2: give me your husband's number. I'll call the man up.
13:00
Speaker 2: I'll let him know. We're basically making money here.
13:03
Speaker 4: Exactly.
13:03
Speaker 2: So money, darst. Are there any other big goals that
13:06
Speaker 2: you have in mind? I'm making the grand assumption that
13:08
Speaker 2: you don't have children.
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Speaker 4: I do.
13:11
Speaker 2: Oh, we haven't talked about them yet, and we don't
13:13
Speaker 2: have to talk about them specifically. I'm just interested in
13:15
Speaker 2: your cash flow. So I was like, are they double income?
13:17
Speaker 2: No kids? Do they have kids? Like, how aggressive can
13:20
Speaker 2: we be on smashing this mortgage down? Like I'm just
13:22
Speaker 2: being pervy? Yes, I have a six and a ten
13:26
Speaker 2: year old, gorgeous.
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Speaker 4: The six year old is a boy and is currently
13:30
Speaker 4: eating my house out. It's unbelievable how much boys eat.
13:34
Speaker 4: We have like seven hundred dollars a fortnight for groceries,
13:38
Speaker 4: two thousand dollars a fortnight for bills. Yeah, the seven
13:43
Speaker 4: hundred for splurge, and then I've just started investing fortnightly too.
13:47
Speaker 2: Who are you? Tell me? I need to know a
13:49
Speaker 2: little bit more about groceries because I feel like groceries
13:52
Speaker 2: a hot topic at the moment, and I mean, we're
13:54
Speaker 2: all feeling the pinched when we come to the checkout.
13:57
Speaker 2: Tell me a bit more about a seven hundred dollar
13:59
Speaker 2: per fortnite grocery budget, Like is that for you? Guys?
14:03
Speaker 2: Is that bougie? Is that, you know, just cutting it
14:06
Speaker 2: fine and getting enough week bix to fuel a six
14:09
Speaker 2: year old?
14:10
Speaker 1: Like?
14:10
Speaker 2: What does that look like?
14:11
Speaker 4: It was just enough, but since I was rudely challenged
14:16
Speaker 4: by my therapist, it has become more than enough, so
14:20
Speaker 4: where I'm currently doing my full weekly shop for about
14:24
Speaker 4: one hundred and fifty dollars a week feeding all for people.
14:28
Speaker 2: Excuse me? Who are you?
14:30
Speaker 4: We shop predominantly at Audi, of course, and just like
14:34
Speaker 4: little things like butchering your own chicken. That saved us
14:37
Speaker 4: heaps of money and it was not something I ever
14:40
Speaker 4: ever occurred to me. So and just making lunch box
14:43
Speaker 4: snacks at home rather than buying them, and just trying
14:46
Speaker 4: to be really creative.
14:47
Speaker 2: Tell me where did you get these tips and tricks?
14:49
Speaker 2: Because like, obviously your your therapist sounds like an icon
14:53
Speaker 2: and was like, oh, I bet you can't do it,
14:54
Speaker 2: and you're like, oh damn it. Now I have to
14:56
Speaker 2: prove you wrong. So how did you learn about butchering
14:59
Speaker 2: your own ches? Because I feel like those things. Lots
15:02
Speaker 2: of people are like, oh, I can't save you that much,
15:04
Speaker 2: but I actually can. Who taught you that? Or did
15:06
Speaker 2: you just decide that was a thing? No?
15:08
Speaker 4: I follow this Instagram page called that money Mum.
15:12
Speaker 2: Oh no, let's go find her, and.
15:15
Speaker 4: She just basically talks about how she saves money and
15:18
Speaker 4: does like fifty dollars a week challenges and gets you
15:21
Speaker 4: to follow along. So I can't do fifty dollars a week, absolutely,
15:25
Speaker 4: dairy milk doesn't allow that.
15:27
Speaker 2: And we've got it, like, sorry, that's for our mental health.
15:30
Speaker 4: Yes exactly, but yeah, we've halved our bill just by
15:34
Speaker 4: being mindful and eating before we go shopping. Because if
15:38
Speaker 4: my husband goes out shopping, he always gets LCMS. It's
15:41
Speaker 4: like the warning sign that we need to leave him
15:44
Speaker 4: reaching for LCMS.
15:45
Speaker 2: I feel like that's a good thing, like you clearly
15:48
Speaker 2: know this man well, like mine's a slippery slope. If
15:50
Speaker 2: I take my husband shopping to the supermarket, like we're
15:54
Speaker 2: buying everything, like not in a good way, He'll be like, oh, yeah,
15:57
Speaker 2: we should get a roast chicken. I'll be like, we
16:00
Speaker 2: don't need a roast chicken. Oh yeah, we do. Anyway,
16:04
Speaker 2: let's go to a really quick break because on the
16:06
Speaker 2: flip side, I have a lot of questions because you
16:08
Speaker 2: told me just before that you are investing, and I
16:10
Speaker 2: want to know about that debt. I need to know
16:13
Speaker 2: how much your house costs to begin with, and then
16:14
Speaker 2: we're going to talk about your best and worse money habits.
16:16
Speaker 2: So guys, don't go anywhere. Are at money dist We
16:23
Speaker 2: are back and before you mentioned that you've got you know,
16:27
Speaker 2: I think you said seven hundred dollars in groceries, two
16:29
Speaker 2: thousand dollars in bills every fortnight. Then you've got like
16:32
Speaker 2: your seven hundred dollars in splurge every fortnite. But then
16:35
Speaker 2: you've started investing how much and in what? And how
16:38
Speaker 2: did you start that journey?
16:39
Speaker 4: So we very first started investing with my financial advisor
16:43
Speaker 4: through Hub twenty four.
16:44
Speaker 2: Oh yeah, and.
16:45
Speaker 4: He recycled debt through our mortgage and we got a
16:49
Speaker 4: one hundred thousand dollars investment loan and he invested that
16:54
Speaker 4: for us through Hub twenty four. But once we wanted
16:57
Speaker 4: to buy this new house, he pivoted and said, we
17:01
Speaker 4: really need to get this mortgage down, so we took
17:04
Speaker 4: that out. And it's only been since listening to you
17:08
Speaker 4: that I dabbled in Chersias a little bit, but I
17:11
Speaker 4: didn't love it, and I was trying to find a
17:13
Speaker 4: platform that worked for me, and then I found Vanguard.
17:16
Speaker 4: So now I invest five hundred dollars a fortnite into
17:20
Speaker 4: Vanguard all growth.
17:22
Speaker 2: Oh, I love this for you? And how did you
17:24
Speaker 2: choose that? Like, I'm just being really pervy, So we
17:26
Speaker 2: do apologize, Bill, you can't be like I investing Vanguard
17:30
Speaker 2: or Growth, Like how did you pick that?
17:33
Speaker 4: I did a few quizzes on my risk profile, and
17:36
Speaker 4: since I've become much more educated on finance, my risk
17:39
Speaker 4: profile is actually pretty high. I have a really high tolerance.
17:43
Speaker 4: And then I just did a little bit of googling
17:46
Speaker 4: and listened to a few podcasts and lots of people
17:48
Speaker 4: were speaking about Vanguard and that they quite trusted They've
17:50
Speaker 4: been in the game a really long time. So I
17:53
Speaker 4: went on their website and just went with all growth
17:56
Speaker 4: and I made twelve dollars today, I logged on it's
17:59
Speaker 4: just gone up twelve bucks because I'm good changes in tariffs.
18:03
Speaker 2: So that's a money win. I love that for us.
18:05
Speaker 2: I feel like Trump at the moment is definitely just
18:08
Speaker 2: playing like roller coasters with our share markets. Like the
18:12
Speaker 2: impact of this man is having is making me feel
18:15
Speaker 2: sick like it is actually terrifying. Anyway, we will not
18:18
Speaker 2: go on about that because it will take our way
18:20
Speaker 2: the rest of the episode. I need to go back
18:23
Speaker 2: to your mortgage because I think for a lot of people,
18:25
Speaker 2: hearing our mortgage is at one point one four five
18:29
Speaker 2: would make a lot of people sick like and that's cool,
18:33
Speaker 2: but I need to know how much did you purchase for?
18:35
Speaker 2: How much of a deposit did you need to purchase
18:38
Speaker 2: a house that big?
18:39
Speaker 4: We purchased it for one point five?
18:41
Speaker 2: Oh okay, Queen.
18:43
Speaker 4: And we used the proceeds from the house that we
18:47
Speaker 4: sold as a deposit. So it's just amazing how big
18:51
Speaker 4: prices have gotten. We built house and land in Adelaide
18:55
Speaker 4: in twenty eighteen for five hundred thousand, and now I
18:58
Speaker 4: live in Canberra and the prices are just astronomical. So
19:03
Speaker 4: we're building again, but it's one point five seems to
19:07
Speaker 4: be like a discount in this state.
19:09
Speaker 2: I feel like this is now the way of getting
19:11
Speaker 2: into property and like building our dream home. And you
19:14
Speaker 2: said earlier, like, oh, my husband and I building our
19:16
Speaker 2: dream home, and that is so flipping exciting. But I
19:20
Speaker 2: need to know more about the journey because like these days,
19:23
Speaker 2: it's not like back in the seventies and eighties where
19:25
Speaker 2: our parents could just purchase their dream home off the
19:28
Speaker 2: bat and be like, oh, well, we tick tat box,
19:30
Speaker 2: We've got a family home. Like nowadays, we're having to
19:32
Speaker 2: purchase a house, you know, wait for it to increase
19:35
Speaker 2: in value a little bit, using the proceeds of that
19:37
Speaker 2: to get into a bigger house. And like, I own
19:39
Speaker 2: a mortgage breaking business, so I see these literally every
19:41
Speaker 2: day people going okay, we're going from an apartment to
19:44
Speaker 2: a townhouse from a townhouse to our dream house, Like
19:47
Speaker 2: it's not a linear pathway of like, yep, I'll just
19:49
Speaker 2: go to Victoria's business and get some finance. Talk to
19:52
Speaker 2: me about this house and land package that you purchased.
19:55
Speaker 2: First you said it was five hundred thousand dollars, So
19:58
Speaker 2: tell me you purchase for five hundred thousand dollars when
20:01
Speaker 2: and then what did you sell it for?
20:03
Speaker 4: So we purchased for five twenty eighteen and then we
20:08
Speaker 4: sold at the start of this year for eight forty five.
20:12
Speaker 2: Oh my goodness. And was that when you were building
20:16
Speaker 2: your house at the time, were you like, this is
20:18
Speaker 2: our dream home or were you like this is a
20:20
Speaker 2: stepping stone? Like what was the thought process of like
20:23
Speaker 2: picking that location in that particular house and land package.
20:26
Speaker 4: It was just a really nice place to raise children
20:29
Speaker 4: and it was a little bit country like right on
20:32
Speaker 4: the cusp of the city. And we never ever thought
20:35
Speaker 4: we would sell. But then my husband got moved to
20:37
Speaker 4: Canberra for work. We've been renting while renting out that
20:42
Speaker 4: home and we're renting it for six fifty a week,
20:46
Speaker 4: which was, you know, more than we ever thought we
20:49
Speaker 4: would get out of it. But we're just tired of
20:51
Speaker 4: renting and want a house where we can put holes
20:53
Speaker 4: in the wall and do all that stuff. So we
20:56
Speaker 4: sat down with our financial advisor and just said, like,
20:59
Speaker 4: can we afford to do this? And he said yes,
21:02
Speaker 4: and it kind of went from there.
21:03
Speaker 2: But we're going to have to dispose of that asset
21:05
Speaker 2: and flip this over here and do a little bit
21:08
Speaker 2: of a backflip and then we can.
21:09
Speaker 4: Yes. Bless him.
21:11
Speaker 2: It sounds like he's got his head screwed on. Like
21:13
Speaker 2: when you said, yap, he was doing debt recycling, I
21:15
Speaker 2: was thinking, oh, that feels a bit risky for that
21:17
Speaker 2: level of mortgage. After you told me your income and
21:19
Speaker 2: I'm thinking okay, like no judgment, I haven't seen your plan.
21:22
Speaker 2: And then you said yes but my advisor told me
21:24
Speaker 2: to extinguish this to do this, I'm like, oh, okay,
21:26
Speaker 2: Like he sounds smart. And then when you said Hub
21:28
Speaker 2: twenty four, I was like, yeah, I used to use
21:30
Speaker 2: that platform as well when I was an advisor. And
21:32
Speaker 2: for those of you, I guess playing along at home.
21:35
Speaker 2: Hub twenty four is basically a commercial version of like
21:38
Speaker 2: a sharesis or a vanguard, where your financial advisor will say, oh,
21:43
Speaker 2: invest on Hub twenty four, and your financial advisor can
21:47
Speaker 2: essentially log into the back end and I could see
21:49
Speaker 2: all your reporting and you know, make trades and stuff
21:51
Speaker 2: on your behalf. But then there's the client side, which
21:54
Speaker 2: our money direst would have been able to see. So like,
21:56
Speaker 2: it's not something that you're like, oh my god, should
21:58
Speaker 2: I have that. It's more just a like that's usually
22:00
Speaker 2: what advisors use because it has that back end access
22:04
Speaker 2: money dost I want to know a little bit more
22:06
Speaker 2: about debts. So you just have the mortgage that you
22:09
Speaker 2: have at the moment, and the plan is to get
22:11
Speaker 2: out of it, ideally in fifteen years. Yes, that is
22:13
Speaker 2: very exciting. Do you have any other debts? Have you
22:16
Speaker 2: ever been in other debt?
22:17
Speaker 4: When I was nineteen, I got a five thousand dollar
22:19
Speaker 4: loan to travel overseas that was really tricky to pay down.
22:24
Speaker 4: I just didn't understand interest. I didn't understand any of it.
22:27
Speaker 4: I just wanted to go overseas, which I know you
22:29
Speaker 4: can emphasize.
22:30
Speaker 2: In Oh, absolutely I can. Like, what do you mean
22:33
Speaker 2: compound interest is basically what happens with debt. That's a
22:37
Speaker 2: bit rude, Yes, and dishonor fees.
22:40
Speaker 4: I was getting smashed with them all the time. But
22:43
Speaker 4: my husband helped me pay that down, and then you know,
22:46
Speaker 4: we've bought a secondhand car here and there. But I've
22:48
Speaker 4: never had a credit card. My family always instilled in
22:52
Speaker 4: me that if you don't have the money, then you
22:54
Speaker 4: can't afford it. So I've never had that and I've
22:57
Speaker 4: we haven't got any debt except for the house.
22:59
Speaker 2: Now, that is a good position to be in. I
23:02
Speaker 2: feel like having ADHD not having a credit card is
23:05
Speaker 2: probably a very good thing because like when you're chasing
23:08
Speaker 2: that dopamine high, Wait, you mean I can tap it
23:11
Speaker 2: and it's not even coming out of my bank account either,
23:13
Speaker 2: Like that five hundred dollars that you and I were
23:15
Speaker 2: talking about before that your husband doesn't see like that
23:19
Speaker 2: literally being on a credit card would be the worst
23:22
Speaker 2: thing for you.
23:22
Speaker 4: I think Apple pay is the worst thing that ever
23:24
Speaker 4: happened to my bank account, just to double click on
23:27
Speaker 4: the side of the phone and boom.
23:29
Speaker 2: You need to completely disconnect it because, as a fellow
23:32
Speaker 2: adhdre if you make it really hard, then I don't
23:35
Speaker 2: even want to do it. Like if I have to
23:37
Speaker 2: go get my credit card, then I have to face
23:39
Speaker 2: the reality that I probably didn't want that because it
23:42
Speaker 2: wasn't worth going and finding my credit card for. Yeah,
23:44
Speaker 2: you're right, slippery slope though, because this genius now knows
23:47
Speaker 2: oh credit card numbers and no CVC like the back
23:50
Speaker 2: of her hand. Yes, me too, slippery slippery slope. Money
23:54
Speaker 2: direst I need to know, though, what is your best
23:56
Speaker 2: money habit?
23:57
Speaker 4: My best money habit is that when I have a
24:01
Speaker 4: clear goal, I am a machine at saving. After I
24:05
Speaker 4: had my children, I had significant ab separation and I
24:08
Speaker 4: needed to have surgery to repair it, but Medicare didn't
24:11
Speaker 4: cover it, so it was going to cost sixty thousand dollars.
24:14
Speaker 4: What I know, Tony Abbot said, women just want free
24:18
Speaker 4: tummy tucks, so we took it off Medicare.
24:20
Speaker 2: Oh yeah, that's totally it, Tony Abbitt, you absolutely honestly.
24:24
Speaker 4: So in eighteen months, I saved sixty thousand dollars and
24:28
Speaker 4: I was earning about sixty thousand dollars.
24:31
Speaker 2: So we need more info, like how do you save
24:33
Speaker 2: sixty grand in a short period of time? Like are
24:36
Speaker 2: you hustling? Are you doing side hustles? Are you selling
24:39
Speaker 2: your entire contents of your house on marketplace? What's going on? It?
24:43
Speaker 4: Was just sheer determination of like we don't need the
24:47
Speaker 4: heater on, put a jumper on. We don't need to
24:49
Speaker 4: go visit our friends. That's going to cost fuel. Like
24:52
Speaker 4: we just locked down, and I was in a lot
24:55
Speaker 4: of discomfort a lot of the time, and it was
24:57
Speaker 4: just a daily reminder of why we need to save,
25:00
Speaker 4: and so we just put our heads down and every
25:04
Speaker 4: way we could think to save money, we did it.
25:06
Speaker 4: We had no streaming services, like we're making our pet
25:09
Speaker 4: food at home. We were doing everything we could think of.
25:12
Speaker 2: I am so impressed and also just like so happy
25:16
Speaker 2: that you got that, but like, I'm not gonna lie.
25:18
Speaker 2: I did not know that those surgeries were so expensive,
25:22
Speaker 2: Like had no idea. In fact, I am quite mad
25:26
Speaker 2: that that's the case, because it's like, sorry, that to
25:28
Speaker 2: me sounds like an essential surgery. I know, like that sorry,
25:33
Speaker 2: you just said that you were uncomfortable the whole time, Like,
25:36
Speaker 2: and that was one of your motivations to save. Is
25:38
Speaker 2: that not a required surgery in that case? To me?
25:41
Speaker 4: I agree?
25:42
Speaker 2: Anyway, I need to know, let's flip this, what is
25:44
Speaker 2: your worst money habit?
25:45
Speaker 4: My impulsivity Instagram is she just reads my mind and
25:51
Speaker 4: I might be talking about slippers, and then slippers will
25:53
Speaker 4: pop up, and then I have to have those slippers.
25:55
Speaker 4: So I'm just really impulsive. I've tried doing that twenty
25:59
Speaker 4: four hour thing that he goes, I can't do it
26:01
Speaker 4: because I so badly need it right now, and so
26:06
Speaker 4: that's something that I'm really working on.
26:07
Speaker 2: I feel like, if you're in that position, I know
26:10
Speaker 2: that it's like, oh, just don't do it for twenty
26:12
Speaker 2: four hours. Go put it in your note section of
26:15
Speaker 2: your phone, or put an alarm on your phone so
26:18
Speaker 2: that it doesn't feel like you're going to miss out.
26:19
Speaker 2: Because I think they're with Adhd as well. We know
26:22
Speaker 2: that we're going to forget, like we know that that's
26:25
Speaker 2: something and you kind of I think that's a lot
26:26
Speaker 2: of our impulsivity because we know that if we don't
26:29
Speaker 2: do it right now, it's probably not going to happen.
26:31
Speaker 2: So like, put an alarm in your phone at the
26:34
Speaker 2: same time tomorrow to remind you to go look at
26:37
Speaker 2: those slippers again and see if you want them. Like
26:39
Speaker 2: that way, maybe you don't feel as much like you're
26:41
Speaker 2: going to miss out. And that has historically helped me
26:45
Speaker 2: a little bit, and I'm much better at it now,
26:46
Speaker 2: but it is very hard to manage sometimes, especially when
26:50
Speaker 2: you get that dopamine high, Like, how do we redirect that?
26:53
Speaker 2: Why can't it be like a dopamine high from cleaning
26:56
Speaker 2: my fridge out? Why so rude money darist? At the
27:01
Speaker 2: start of this episode, you said, I reckon, I'm an
27:03
Speaker 2: A mins. What makes you an ans? Like? What would
27:06
Speaker 2: make you an A plus? Because it sounds like, honestly,
27:09
Speaker 2: you've got it pretty together. I know that you're spending
27:11
Speaker 2: a bit more than your husband realizes you're spending, but
27:14
Speaker 2: you're still on track to pay off your mortgage early.
27:17
Speaker 2: You are still investing, and you seem to have a
27:20
Speaker 2: really good handle of your budget and cash flow, Like
27:23
Speaker 2: I don't think it's as bad as I thought it
27:24
Speaker 2: might be from your diary entry.
27:26
Speaker 4: I think to be an A plus it would be
27:29
Speaker 4: being able to trust myself with my money and know
27:32
Speaker 4: that that dopamine is not more important than my values,
27:36
Speaker 4: because that's something that really that was the instigator of
27:39
Speaker 4: me messaging you, listening to an episode about values and
27:44
Speaker 4: looking at my bank and seeing that all the things
27:47
Speaker 4: that I buy did in align with them, and what
27:49
Speaker 4: I really want is a safe and beautiful home for
27:52
Speaker 4: my family and to be able to afford to send
27:54
Speaker 4: my kids on school camp and all that sort of stuff,
27:56
Speaker 4: And what I was doing was going against all of that.
27:59
Speaker 4: So yeah, to become an aplus would be to trust
28:03
Speaker 4: myself and stick to my values.
28:05
Speaker 2: I'm excited for that because I think that you're on
28:07
Speaker 2: the track to do that. Like it sounds like you've
28:09
Speaker 2: got a lot of good people on your team that
28:11
Speaker 2: support you, whether that is your family or like your therapist,
28:14
Speaker 2: Like you're going to get it, and obviously your therapist
28:16
Speaker 2: knows how to push the right buttons on you, and
28:19
Speaker 2: like I have met therapists before who just don't know
28:22
Speaker 2: what to do with me. So I'll call you after
28:24
Speaker 2: and I think I might need her details money test.
28:27
Speaker 2: This has been beautiful. I feel like this episode is
28:30
Speaker 2: going to really resonate with a lot of people in
28:31
Speaker 2: our community, like not just the ADHD, but just like
28:35
Speaker 2: the sneaky spending, like maybe being able to hype a
28:38
Speaker 2: focus on things. But then also thank you so much
28:41
Speaker 2: for sharing so much information and just like parts of
28:44
Speaker 2: your journey of like having to be hospitalized for mental health,
28:47
Speaker 2: because I think we need to talk about this so
28:49
Speaker 2: much more often. Because like, it is challenging, but it
28:53
Speaker 2: is a reality of our situation. And I'm obsessed that
28:56
Speaker 2: your financial advisor came in and was like, write, sit down,
28:59
Speaker 2: I will organize all of this, because not many and
29:02
Speaker 2: this is so good, but not many people get to
29:05
Speaker 2: see their financial advisor actually in action, like you would
29:08
Speaker 2: probably remember sitting down with them in initial consults and
29:11
Speaker 2: then being like, look, if anything happened, i'd come in
29:13
Speaker 2: and make sure you're okay, and you're like, yeah, but cool.
29:16
Speaker 2: But they do right, Like they just fly in and go, okay, cool,
29:19
Speaker 2: We're going to sort this, this, this and this, and
29:21
Speaker 2: I need you to sign here so that we can
29:22
Speaker 2: get this done and I'll call you if I need anything.
29:25
Speaker 4: Yeah, I've told him. I sent him an email and said,
29:27
Speaker 4: I think that you saved my life because without that
29:30
Speaker 4: income and without him just taking it all, it wouldn't
29:34
Speaker 4: have got done, and I would have felt like I
29:37
Speaker 4: was hurting my family. So I'll be forever grateful for him.
29:41
Speaker 2: I'm obsessed. Well, thank you so much for sharing your journey.
29:44
Speaker 2: I'm very very grateful that I got to hear a
29:46
Speaker 2: small part of it. And I know that our community
29:49
Speaker 2: is going to feel exactly the same way.
29:50
Speaker 4: Thanks Victoria.
29:57
Speaker 5: If I shared on cheese on the Money is general
30:00
Speaker 5: in nature and does not consider your individual circumstances. She's
30:04
Speaker 5: on the Money exists purely for educational purposes and should
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