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She Couldn’t Get a Credit Card as a Single Mum. It Became a Blessing in Disguise. · She's On The Money

• 0:00
  Speaker 1: My name is Natasha Bamblett. I'm a proud First Nations
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  Speaker 1: woman and I'm here to acknowledge country. Hello beautiful friends.
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  Speaker 1: We gather on the lands of the Aboriginal people We thank,
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  Speaker 1: acknowledge and respect the Aboriginal people's land that we're gathering
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  Speaker 1: on today. Take pleasure in all the land and respect
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  Speaker 1: all that you see. She's On The Money podcast acknowledges culture, country,
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  Speaker 1: community and connections, bringing you the tools, knowledge and resources
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  Speaker 1: for you to thrive.
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  Speaker 2: Hello and welcome to She's on the Money, the podcast
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  Speaker 2: that lets you be pervy about other people's money stories
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  Speaker 2: for educational purposes, of course. Welcome back to another one
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  Speaker 2: of our money diaries brought to you by our friends
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  Speaker 2: at Sky Wealth, where I get the absolute privilege of
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  Speaker 2: sitting down with one of our incredible She's on the
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  Speaker 2: Money community members and talking to them all about their journey.
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  Speaker 2: Let's jump straight into it because this week I got
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  Speaker 2: a message and it sounded exactly like this. Hi, She's
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  Speaker 2: on the Money. I have come a long way with
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  Speaker 2: my money story and I'm excited for what's ahead. I
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  Speaker 2: had my first son at 18 and raised two boys
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  Speaker 2: as a single mom. I worked part-time and I studied
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  Speaker 2: so I could be home with them as much as possible.
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  Speaker 2: I now run a successful business, study, have big goals.
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  Speaker 2: I invest once I knew what it was. I'm growing
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  Speaker 2: my super and living my best life. I feel like
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  Speaker 2: I'm chasing my tail a bit to catch up with
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  Speaker 2: my super. purchase property and set my future life up
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  Speaker 2: the best way I can while also living my present
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  Speaker 2: life to its fullest. Money Diarist. I'm so excited for this.
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  Speaker 2: We just had a little off-air banter and I was like,
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  Speaker 2: I can feel in my bones this is going to
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  Speaker 2: be a good one.
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  Speaker 3: Yes, I hope so.
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  Speaker 2: So without further ado, the first cab off the rank
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  Speaker 2: is always Money Dyrus. What grade would you give your
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  Speaker 2: money habits from A through to F if I asked
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  Speaker 2: you to give them a grade?
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  Speaker 3: I was thinking about this. I think maybe a B plus,
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  Speaker 3: close to an A.
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  Speaker 2: We're close to it and we're going to learn.
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  Speaker 3: Yes.
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  Speaker 2: Now let's dive into the really gritty stuff. Can you
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  Speaker 2: tell me a little bit more about your money story
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  Speaker 2: and the things that have impacted it?
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  Speaker 3: So I grew up in a single parent household. Money,
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  Speaker 3: I don't know how tight money was, but it felt
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  Speaker 3: like we had everything we needed. But if we wanted,
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  Speaker 3: you know, those shoes that everybody has, it's like, oh no,
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  Speaker 3: we can't afford that. So I heard that a lot
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  Speaker 3: growing up. So I was very scared to spend money,
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  Speaker 3: very budgety with money. So always like had to know
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  Speaker 3: where it was, where it was coming from, big scarcity mindset.
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  Speaker 3: Then I fell pregnant with my son in year 12,
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  Speaker 3: had him just out of high school. And then I
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  Speaker 3: had my second son four years later. So then raising
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  Speaker 3: two kids on my own. budgeting.
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  Speaker 2: Wow. And so young.
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  Speaker 4: Yeah.
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  Speaker 3: So I used to have a little word document with
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  Speaker 3: like six weeks in advance of like what money was
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  Speaker 3: coming in, what was due, like if I had soccer
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  Speaker 3: regos or school uniforms or whatever else needed to be
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  Speaker 3: paid for a lot of weeks, it would be like,
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  Speaker 3: we have $ 20 left at the end of the week,
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  Speaker 3: but we had a roof over our head. We had
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  Speaker 3: food in the cupboard, we had petrol in the car
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  Speaker 3: and the kids were happy. And we would go and
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  Speaker 3: get hot chips at the local cafe. And that was
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  Speaker 3: our little thing that we did.
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  Speaker 2: Oh, I love this so much. I'm sorry. You just
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  Speaker 2: said I fell pregnant in year 12, but then you
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  Speaker 2: finished year 12. So like, Can I be a little
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  Speaker 2: bit pervy? At what stage in grade 12 did you
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  Speaker 2: fall pregnant?
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  Speaker 3: Just before my exams. So right at the end. Right.
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  Speaker 2: Oh, that would have sent you for a spin.
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  Speaker 3: Yeah.
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  Speaker 2: Because one can assume that someone in grade 12 did
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  Speaker 2: not mean to get pregnant. Like that wasn't like, let's
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  Speaker 2: finish school and have a baby. That was like, oh
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  Speaker 2: my goodness, I've got exams.
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  Speaker 3: Well, exactly. And I think I was just so naive.
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  Speaker 3: I don't even think I'd ever been around babies. I'd
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  Speaker 3: never changed a nappy. I was just like, oh yeah,
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  Speaker 3: let's do this. No idea what I was doing. So
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  Speaker 3: just dove into, and I think it was the best
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  Speaker 3: way to do it.
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  Speaker 2: Honestly, as somebody who waited until she was in her thirties,
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  Speaker 2: like I catastrophized what having a baby would look like
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  Speaker 2: and it's different for everybody. So I kind of just
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  Speaker 2: wish I'd gone in blind, like, and had no idea.
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  Speaker 3: Well, when I went into labor, it was like, they're like, oh,
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  Speaker 3: this and you're this much dilated. I go, oh, what
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  Speaker 3: does that mean? It was just so nice. Didn't go
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  Speaker 3: to any parenting classes, just Went in there, I was like, well,
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  Speaker 3: I got to do it anyway. So I'll just figure
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  Speaker 3: it out as I go along.
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  Speaker 2: Honestly, so fair. Because do you know what? I did
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  Speaker 2: all of the planning. Like I did all of the
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  Speaker 2: like prenatal classes, like hypnobirthing, the calm birthing. And I
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  Speaker 2: still ended up having a C-section. So that was a
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  Speaker 2: waste of time.
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  Speaker 3: Yeah. So no, I felt like that suited me just
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  Speaker 3: to jump in. That's kind of how I do everything
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  Speaker 3: in life. Just figure it out as I go. It's
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  Speaker 3: funny because recently my kids are in their 20s now
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  Speaker 3: and I asked my youngest, I said to him, oh,
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  Speaker 3: because I think about my childhood and how I felt
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  Speaker 3: about money and I know how much work I've done,
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  Speaker 3: how many courses I've done, how much I've worked on
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  Speaker 3: my mindset around money, especially in my business now, like
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  Speaker 3: not setting myself ceilings that I just can't get past.
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  Speaker 3: And I said to him, oh, when you were growing up,
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  Speaker 3: did you ever feel like we had no money? Because
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  Speaker 3: I knew how much money we had, but they didn't.
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  Speaker 3: And he just said, no, never. I was, I had
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  Speaker 3: everything I needed. It was the best childhood ever. And
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  Speaker 3: I was just like, that's the best.
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  Speaker 2: That's the feedback you deserve. And you know what? Like
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  Speaker 2: there would have been times where everything was super close,
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  Speaker 2: but you touched on something earlier. You were like, I
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  Speaker 2: grew up with scarcity mindset. And I think that maybe
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  Speaker 2: you've pivoted that. So even if you didn't have enough,
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  Speaker 2: I think that the way that you approach things really
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  Speaker 2: shapes your children's experience of that. So like, your kids
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  Speaker 2: probably thought you were rich because you went to the
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  Speaker 2: cafe and had hot chips so regularly. Whereas you guys
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  Speaker 2: had kind of reframed that as like, oh, that's so nice.
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  Speaker 2: That's such a treat. Not a, oh, we can't go out.
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  Speaker 2: You're like, we're going to go out, but we're just
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  Speaker 2: going to get hot chips. And that's our thing. Like
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  Speaker 2: it's gorgeous.
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  Speaker 3: Yeah. We did no international travel, but we would go
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  Speaker 3: to Queensland or Tasmania or local like, you know, three
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  Speaker 3: or four hours away. I'd pitch the tent in the
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  Speaker 3: yard and we'd put a TV and our camp beds
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  Speaker 3: out there and pop some popcorn. And that's what we'd
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  Speaker 3: do on the weekends. We'd eat breakfast on the trampoline
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  Speaker 3: or I just made the things at home fun.
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  Speaker 2: You built their childhood. Oh, you're so special. And I
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  Speaker 2: can just tell that like, they look back on that
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  Speaker 2: as like magic, like mum made magic.
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  Speaker 4: Yeah.
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  Speaker 3: Especially now that they're older, they're just like, oh, how
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  Speaker 3: did you do it, mum? Like, you know, they're living
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  Speaker 3: in the world and paying their own way and they're
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  Speaker 3: just like, oh, how did you do it? I mean,
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  Speaker 3: I couldn't save and I couldn't buy a house and
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  Speaker 3: all those things, but my kids in their 20s now,
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  Speaker 3: I just look back and go, I wouldn't trade it
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  Speaker 3: for any dollar amount in the world. I wouldn't do
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  Speaker 3: it differently if I did it again because I have
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  Speaker 3: so much life ahead of me and I can buy
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  Speaker 3: a house now. I can, you know, I can do
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  Speaker 3: all the things I want to do now. And they
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  Speaker 3: had an awesome childhood and I got to be there
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  Speaker 3: for it. So, yeah. That's the most special thing.
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  Speaker 2: And also you got to do it in a way
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  Speaker 2: that I think now people are like, oh, that's crazy.
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  Speaker 2: Like you shouldn't be having kids young. You really need
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  Speaker 2: to set yourself up. Sorry, you're 44 now, just to
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  Speaker 2: give the audience a little bit of context. You look
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  Speaker 2: so young, just to be clear audience. Like she does
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  Speaker 2: not look like she has teenage or, you know, kids
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  Speaker 2: in their 20s. But your kids are probably looking at
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  Speaker 2: it being like, how on earth did mum do this?
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  Speaker 2: She had us like from 19 managed to absolutely kill it. Studies, works,
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  Speaker 2: has her own business now. I'm sorry. The example you're
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  Speaker 2: setting for them, unrealistic. They're going to be like, we
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  Speaker 2: don't know how mum did it. She's a wizard.
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  Speaker 4: Yeah.
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  Speaker 3: And I've just grown on it. So I studied when,
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  Speaker 3: you know, I'd get up at five o'clock and study.
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  Speaker 3: I'd just find work that was part-time. But even when
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  Speaker 3: I look back, like, I had a contracting job and
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  Speaker 3: I paid my own super. I don't know how or why,
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  Speaker 3: but I did. I just knew it was important. I
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  Speaker 3: had a job that didn't pay my super for a year,
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  Speaker 3: so I've lost out there. But I still feel like
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  Speaker 3: I was aware of things growing up, but I'm not
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  Speaker 3: sure how because it was never spoken about in mine.
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  Speaker 2: She's just switched on. You're just a wizard. It just
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  Speaker 2: happens for you. So now you have brought up two
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  Speaker 2: beautiful children. They are now adults, you run a business.
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  Speaker 2: What are you doing with your time?
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  Speaker 3: Running my business.
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  Speaker 2: 100% of the time? Like you're not, you're like the,
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  Speaker 2: I travel, I this. No, no, no. As you said offline,
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  Speaker 2: you were like, yes, I'm busy, but I'm always busy.
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  Speaker 3: No, it allows me flexibility. I have a new amazing
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  Speaker 3: partner who we travel a lot and I came out
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  Speaker 3: of a quite toxic relationship before that. So getting out
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  Speaker 3: of that, and being grateful we had no financial entanglements
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  Speaker 3: with each other like the roadblocks along the way for
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  Speaker 3: us to do anything I was like that was just
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  Speaker 3: the universe putting them there for a reason so it
• 9:41
  Speaker 3: was quite clean which was nice but um yeah my
• 9:45
  Speaker 3: new partner we travel quite a lot interstate like you
• 9:48
  Speaker 3: know just domestic and sometimes I take my laptop and
• 9:53
  Speaker 3: just work where I can or even if I go
• 9:55
  Speaker 3: a few hours away I'll just take my laptop and
• 9:57
  Speaker 3: check emails do a couple of small jobs but I just,
• 10:01
  Speaker 3: I don't want to wait 20 years to travel. It's
• 10:04
  Speaker 3: like I want to travel now and work now. And
• 10:06
  Speaker 3: if the life I've set up can afford that for me,
• 10:09
  Speaker 3: then I'm happy with that.
• 10:11
  Speaker 2: Yeah, absolutely. All right. So tell me a little bit more.
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  Speaker 2: Let's dive into the next step. What do you currently
• 10:18
  Speaker 2: do for work and how much money do you earn?
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  Speaker 3: I'm a building designer. So I have my own building
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  Speaker 3: design business. I've been in the industry 18 years, but
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  Speaker 3: my own business for six. And my income, business income
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  Speaker 3: last year was $ 220, 000. Wow. Yeah. The year before it
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  Speaker 3: was $ 160, 000. And I was like, okay, I think I
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  Speaker 3: can go more. So I set a goal of 200
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  Speaker 3: and I got to 220. So I was pretty stoked
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  Speaker 3: with that.
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  Speaker 2: Sorry, I just made 220 as though that's like a
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  Speaker 2: normal amount of money to make. That was last year?
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  Speaker 3: Last financial year.
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  Speaker 2: That's crazy work in the best of ways. So if
• 10:56
  Speaker 2: we go back, you said you had your business for
• 10:57
  Speaker 2: six years now. What turnover were you producing at the start?
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  Speaker 3: Around 100, 60 to 100. So the first year of
• 11:07
  Speaker 3: my business, I also worked full time because the business
• 11:10
  Speaker 3: wasn't a plan. It was a, I left a job,
• 11:14
  Speaker 3: went work somewhere else. And my old job gave me
• 11:17
  Speaker 3: so much work because when I left just to keep
• 11:20
  Speaker 3: on top of everything and it just organically grew faster.
• 11:23
  Speaker 3: into a business and 12 months later I was working
• 11:26
  Speaker 3: full-time in the business and at a job and I
• 11:28
  Speaker 3: was like oh I have to make a decision so
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  Speaker 3: just made a decision to give it a crack and
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  Speaker 3: if it didn't work I'll just go get a job
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  Speaker 3: somewhere else and.
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  Speaker 2: Here I am that is insane so tell me It
• 11:43
  Speaker 2: sounds like you are doing very well, but what are
• 11:45
  Speaker 2: your big money goals? What are you currently working towards?
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  Speaker 3: So I still have always wanted to purchase property and
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  Speaker 3: there's just been a roadblock in my way every single time.
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  Speaker 3: And now being self-employed was the next one, but I
• 11:59
  Speaker 3: was like, I'm not going to stop that. Let that
• 12:01
  Speaker 3: stop me from going out on my own. So I've
• 12:04
  Speaker 3: been speaking to Oh, lovely.
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  Speaker 2: Great choice. You've got fabulous taste.
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  Speaker 3: I think I spoke to about six brokers and then
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  Speaker 3: I just went to Zella and I've just been speaking
• 12:15
  Speaker 3: to them. So I started looking at houses last year.
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  Speaker 3: I was like, okay, I'm just going to just get
• 12:21
  Speaker 3: into the market, buy what I can afford and then
• 12:24
  Speaker 3: take it from there. That's just the best I can
• 12:26
  Speaker 3: do at the moment. And I just said, I'm just
• 12:28
  Speaker 3: going to renovate or, you know, like I'll go live
• 12:31
  Speaker 3: there or my son can live there with his fiance
• 12:33
  Speaker 3: and I'll just work it out however it works best
• 12:36
  Speaker 3: kind of thing. So I kind of had a vague idea.
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  Speaker 3: But I think I'm kind of scared of property too
• 12:41
  Speaker 3: because it's unknown and it's such a huge financial commitment.
• 12:45
  Speaker 3: So it kind of scares me a bit. But just
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  Speaker 3: kept saying, no, I'm going to go start looking at houses.
• 12:50
  Speaker 3: So me and my partner just went and looked at
• 12:52
  Speaker 3: a couple of houses. And then as time went on,
• 12:56
  Speaker 3: we have just decided that we're going to buy into
• 13:03
  Speaker 3: his property and we'll own his property together and he
• 13:07
  Speaker 3: wants to renovate so we're just going to renovate that
• 13:09
  Speaker 3: but now it will be our house. And I just said,
• 13:11
  Speaker 3: isn't that crazy how you want something and you say
• 13:14
  Speaker 3: you're going to buy property this year, you're going to
• 13:17
  Speaker 3: do this to it and then the universe just wraps
• 13:19
  Speaker 3: it up in a completely different Present and just gives
• 13:22
  Speaker 3: it to you. It's not the way I thought it
• 13:25
  Speaker 3: would happen, but it's kind of along the same pathway.
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  Speaker 3: So pretty exciting.
• 13:30
  Speaker 2: Good things happen to good people, baby. Like I genuinely
• 13:34
  Speaker 2: believe that like people start going, wow, it's crazy how
• 13:36
  Speaker 2: it worked out for me. And I'm like, look how
• 13:38
  Speaker 2: much you work. Like, look how hard you worked. Of
• 13:42
  Speaker 2: course it's happening for you. That was the point, was
• 13:45
  Speaker 2: it not?
• 13:45
  Speaker 3: Yeah. And I think it was just going out and
• 13:47
  Speaker 3: actually looking at property because I was always like, well,
• 13:49
  Speaker 3: I'm not going to go look at property if I
• 13:51
  Speaker 3: can't even buy it. Like, what's the point? And I
• 13:53
  Speaker 3: was just like, I'm just going to go see what's
• 13:55
  Speaker 3: out there. Like, just put it out there in the
• 13:57
  Speaker 3: universe that this is what I want and just bring
• 13:59
  Speaker 3: that energy to myself and give myself the mindset and
• 14:02
  Speaker 3: confidence that this is going to happen for me. you know,
• 14:06
  Speaker 3: you kind of go, oh, like you're a bit older.
• 14:08
  Speaker 3: You're going to be paying a mortgage off forever. But
• 14:10
  Speaker 3: I was like, well, it's going to be the same
• 14:12
  Speaker 3: story in five years. So I might as well just
• 14:13
  Speaker 3: go and do it.
• 14:14
  Speaker 1: Yeah.
• 14:14
  Speaker 2: And also you're probably not going to be paying off
• 14:17
  Speaker 2: a mortgage forever. Like with your income and with your mindset,
• 14:21
  Speaker 2: I can see that look, I don't know you that well,
• 14:24
  Speaker 2: but just picking up what you're putting down, I'm pretty
• 14:27
  Speaker 2: sure you're not going to be like, great, 30 years.
• 14:30
  Speaker 2: I'll see you in 30 years, V. I'm pretty sure
• 14:33
  Speaker 2: you're going to get your mortgage and be like, great,
• 14:34
  Speaker 2: how can we get rid of that sooner? How can
• 14:36
  Speaker 2: we leverage that? What does that look like? What's my
• 14:38
  Speaker 2: business look like? What income are we deriving here? All right.
• 14:41
  Speaker 2: I'm not going to pay my mortgage off aggressively right
• 14:44
  Speaker 2: now because I'm topping up my super. And once that's done,
• 14:47
  Speaker 2: that's the next cab off the rack. I don't know
• 14:49
  Speaker 2: you well enough, but I feel like you have your
• 14:51
  Speaker 2: finger on the pulse.
• 14:52
  Speaker 3: Yeah. I think like my intention for property was to
• 14:55
  Speaker 3: purchase and then it would be an investment and just
• 14:59
  Speaker 3: rent somewhere else. But the way it's turned out, this
• 15:02
  Speaker 3: will be our forever home and then we will look
• 15:05
  Speaker 3: to invest outside of that in property. So it's just
• 15:08
  Speaker 3: come in a different weird and wacky way, which is
• 15:11
  Speaker 3: amazing and I love.
• 15:12
  Speaker 2: So can I be a little bit pervy? You have
• 15:14
  Speaker 2: a new partner. you are purchasing property with them. We
• 15:18
  Speaker 2: know what trajectory you're on. What's that like setting up
• 15:22
  Speaker 2: finances once you've, for the last 20 plus years, you've
• 15:27
  Speaker 2: been a lone wolf, running your finances, running your finances
• 15:30
  Speaker 2: for children. Do you have joint accounts? How do you
• 15:33
  Speaker 2: have those conversations after being, I guess, so independent for
• 15:37
  Speaker 2: so long?
• 15:38
  Speaker 3: Yeah, we've kind of touched on it and said, oh yeah,
• 15:41
  Speaker 3: we need to just sit down and go through finances
• 15:42
  Speaker 3: because I'm still living at my property and he's still
• 15:46
  Speaker 3: living at his. He's just going through a separation, like
• 15:49
  Speaker 3: a settlement separation with the house at the moment. So
• 15:51
  Speaker 3: we're just waiting for that to go through. And yeah,
• 15:55
  Speaker 3: so we kind of haven't sat down and done all
• 15:58
  Speaker 3: that yet, but it's definitely conversations that need to be had.
• 16:02
  Speaker 3: So yeah, 100%.
• 16:03
  Speaker 2: And you know what, like if he's going through the
• 16:06
  Speaker 2: end part of a separation and there's like assets and distributions, like,
• 16:10
  Speaker 2: do you know what? I don't want to have any
• 16:12
  Speaker 2: joint finances with you until you can tell me your
• 16:15
  Speaker 2: clean cut and then we can maybe talk about it.
• 16:17
  Speaker 3: Yeah.
• 16:18
  Speaker 2: I feel like that's how I would feel too.
• 16:19
  Speaker 3: Yeah. But it's interesting because growing up, you think there's
• 16:22
  Speaker 3: only one way to do money. It's like you have
• 16:25
  Speaker 3: a partner, you have joint accounts. That's just how I
• 16:27
  Speaker 3: thought it worked. But listening to like your podcast. And
• 16:32
  Speaker 3: it's like, oh, there are so many ways that you
• 16:35
  Speaker 3: can do finances and it doesn't have to be that
• 16:38
  Speaker 3: way for you. It's just like, whatever suits you both,
• 16:41
  Speaker 3: you can work it out and you can do a
• 16:43
  Speaker 3: combination of joint accounts and individual accounts. And I mean,
• 16:46
  Speaker 3: I have a business account with five sub accounts, which
• 16:49
  Speaker 3: obviously will stay as is, but then I have personal
• 16:52
  Speaker 3: accounts with sub accounts and I'm super organized with the
• 16:56
  Speaker 3: budgeting and distribution of my money. So it's like, I mean,
• 17:00
  Speaker 3: when I organized it two or three years ago. I
• 17:03
  Speaker 3: haven't looked at it since, but.
• 17:04
  Speaker 2: Sorry, but that system and process is still clearly working.
• 17:07
  Speaker 2: And like, why fix something if it's not broken? So like,
• 17:11
  Speaker 2: maybe once you do move in together, you decide, okay, well...
• 17:14
  Speaker 2: we clearly have a mortgage together, so we've got to
• 17:16
  Speaker 2: pay that off. But then also, maybe we just have
• 17:19
  Speaker 2: a separate account where we just both pop money in
• 17:22
  Speaker 2: there for like house maintenance and just stuff that we organize.
• 17:26
  Speaker 2: And then maybe you guys go, well, that's where we
• 17:28
  Speaker 2: draw the line. We actually don't need anything else. Like,
• 17:31
  Speaker 2: Because if you don't have more joint expenses, like if
• 17:34
  Speaker 2: you had a baby together, maybe then you'd be like, okay, well,
• 17:38
  Speaker 2: we do need to be more integrated because, you know,
• 17:39
  Speaker 2: you're planning things like maternity leave and, you know, being
• 17:42
  Speaker 2: more dependent. But maybe it just doesn't even need to change.
• 17:46
  Speaker 3: No. And it's good because his kids are older too,
• 17:49
  Speaker 3: like older teenagers and then mine are grown. So it's like,
• 17:52
  Speaker 3: it's just kind of us and we just have to
• 17:54
  Speaker 3: worry about us and how we do things.
• 17:57
  Speaker 2: So that's so lovely. Like that you're just like, I
• 18:00
  Speaker 2: don't know, putting your roots down together after kind of
• 18:04
  Speaker 2: both establishing families on your own. Like that's so exciting.
• 18:08
  Speaker 2: All right, let's go to a really quick break because
• 18:10
  Speaker 2: you teased me in your intro and said that you
• 18:12
  Speaker 2: just started investing, but you didn't give me any info
• 18:15
  Speaker 2: on what it is. So I want to dive into that.
• 18:17
  Speaker 2: I also want to talk about debt, personal insurance and
• 18:19
  Speaker 2: your best and worst money habits. So guys, please don't
• 18:22
  Speaker 2: go anywhere. All right, Money Diaries, we are back. Can
• 18:29
  Speaker 2: we talk about your investing journey? You mentioned, I have
• 18:33
  Speaker 2: big goals, invest. And then you were like, once I
• 18:36
  Speaker 2: knew what it was. So when did you learn about
• 18:38
  Speaker 2: the power of compound interest?
• 18:40
  Speaker 3: So I started listening to finance podcasts probably five years ago.
• 18:44
  Speaker 3: So I think I listened to about three or four
• 18:47
  Speaker 3: different ones. One of them being yours. Yours is the
• 18:50
  Speaker 3: only one I still listen to.
• 18:52
  Speaker 4: Stop.
• 18:52
  Speaker 2: Thank you.
• 18:53
  Speaker 3: I listened to... Glenn James' one and Australian Finance Podcast
• 18:59
  Speaker 3: and just whatever I could get my hands on once
• 19:01
  Speaker 3: I started to go, oh, I think I can work
• 19:03
  Speaker 3: this out and understand it because you'd see it on
• 19:05
  Speaker 3: the news ASX and I'd be like, oh, what is that?
• 19:09
  Speaker 3: It's like, oh, that's for rich people so I don't
• 19:11
  Speaker 3: need to understand it. So I just never looked.
• 19:14
  Speaker 4: Yeah.
• 19:14
  Speaker 2: Or it was like for finance bros, I would like
• 19:17
  Speaker 2: just let it go over my head and be like, sorry,
• 19:19
  Speaker 2: that to me was the flag to tune out.
• 19:23
  Speaker 3: So I probably listened for about two years. And I
• 19:26
  Speaker 3: think because I just wanted to have the right mindset,
• 19:30
  Speaker 3: like I listened to a lot about if the market drops,
• 19:33
  Speaker 3: people get scared and take their money out. So I'm like,
• 19:35
  Speaker 3: I just want to be in a place where I'm
• 19:37
  Speaker 3: okay with the dips in the market because I've listened
• 19:40
  Speaker 3: to so much about how it recovers and whatever else.
• 19:43
  Speaker 3: So Once I got comfortable in that, Sharesies wasn't in
• 19:47
  Speaker 3: Australia yet, so I jumped in Spaceship first. and I
• 19:52
  Speaker 3: set up accounts for my kids as well because you
• 19:54
  Speaker 3: could set them up from so young. So I was like,
• 19:57
  Speaker 3: I am starting older, but I started my kids at
• 20:00
  Speaker 3: like 16 as soon as I could. Even if they
• 20:02
  Speaker 3: didn't understand it, I was like, we're just going to
• 20:04
  Speaker 3: do this now and you can thank me later. So
• 20:06
  Speaker 3: that's kind of what I've been doing. And then Spaceship
• 20:09
  Speaker 3: didn't perform well, tried Raise, same thing. And then when
• 20:12
  Speaker 3: Sharesies come over to Australia, I just switched both the boys'
• 20:17
  Speaker 3: accounts over to Sharesies and then mine is in Sharesies.
• 20:20
  Speaker 3: I think about, I was going to put this in
• 20:22
  Speaker 3: the Money Wins link on the Facebook group, but I
• 20:25
  Speaker 3: think it was about a month ago, I had like,
• 20:28
  Speaker 3: I had personally myself put 50,000 into my share account.
• 20:32
  Speaker 3: And I was like, that's amazing. That's so good. And
• 20:36
  Speaker 3: my super hit 200K. around the same time.
• 20:39
  Speaker 2: Sorry, you're going to have to repeat yourself because in
• 20:44
  Speaker 2: your intro, you were like, look, I haven't been paying
• 20:45
  Speaker 2: attention to my super. And then you're like, oh, it's
• 20:48
  Speaker 2: 200 grand. Like, sorry, pop off. That's amazing.
• 20:51
  Speaker 3: I just think for my age, it's like not. enough,
• 20:55
  Speaker 3: but I've always contributed like $ 20 a week or like
• 20:58
  Speaker 3: salary sacrifice. Or like I said, when I was a contractor,
• 21:01
  Speaker 3: I had paid my own super, but then I just go, oh,
• 21:03
  Speaker 3: at my age and so much like only working part-time
• 21:07
  Speaker 3: or not having super paid over all these years, it's like, oh,
• 21:09
  Speaker 3: I feel like I really need to scramble to catch up.
• 21:12
  Speaker 2: Honestly, fair. So next cab off the rank, I want
• 21:16
  Speaker 2: to know, talk to me about debts. What does the
• 21:19
  Speaker 2: debt look like that you're about to get yourself into?
• 21:22
  Speaker 2: And do you have any other debts?
• 21:24
  Speaker 3: I don't have any loans. I just have a small minute,
• 21:29
  Speaker 3: like a $ 2, 000 credit card that I don't really use.
• 21:32
  Speaker 3: It's just there. I couldn't get loans or credit cards
• 21:35
  Speaker 3: as a single mom, which over the years, I was
• 21:37
  Speaker 3: kind of like, oh, I wish I could just get
• 21:39
  Speaker 3: a credit card because apparently that's what you do. and
• 21:42
  Speaker 3: get loans. That's how people live. And that's what was
• 21:45
  Speaker 3: modeled to me growing up. And I just thought that
• 21:48
  Speaker 3: was normal, but I don't want any loans or credit cards.
• 21:52
  Speaker 3: So I don't have any loans. The mortgage, I think
• 21:56
  Speaker 3: will go up to about 800 or 850 with the
• 22:00
  Speaker 3: settlement and getting a little bit to do some renovations
• 22:04
  Speaker 3: and stuff. So yeah, love.
• 22:06
  Speaker 2: And I heard you say just before you were like, Oh,
• 22:08
  Speaker 2: as a single mom, I couldn't get any credit cards
• 22:10
  Speaker 2: or personal loans. And that was actually going to be
• 22:12
  Speaker 2: my next question. I feel like single moms already have
• 22:16
  Speaker 2: it really hard. And then one way that some of
• 22:19
  Speaker 2: our community have to get ahead is debt, right? Because
• 22:22
  Speaker 2: like sometimes you just can't put food on the table
• 22:25
  Speaker 2: and you just can't pay school fees or like you
• 22:28
  Speaker 2: finally find out that your kid wants to play soccer
• 22:30
  Speaker 2: and you can't afford soccer boots. And you're like, you
• 22:31
  Speaker 2: know what, this is a credit card expense. Like, and
• 22:34
  Speaker 2: I get it. How did you come out of being
• 22:38
  Speaker 2: a kick-ass single mom to two kids. You weren't just
• 22:42
  Speaker 2: a single mom, you were a teen mom. You started
• 22:44
  Speaker 2: real young and you had no debt. What is that wizardry?
• 22:48
  Speaker 2: You just couldn't get it and you were forced?
• 22:51
  Speaker 3: I couldn't get it and it was a blessing in disguise.
• 22:53
  Speaker 3: When I look back, I go 100% blessing in disguise
• 22:56
  Speaker 3: because what was modeled to me was that I would
• 23:00
  Speaker 3: have just ended up with loans and credit cards and
• 23:02
  Speaker 3: I would have just constantly been paying off debt. I'm
• 23:05
  Speaker 3: so glad I don't and it made me live within
• 23:08
  Speaker 3: my limits and it afforded my kids a lifestyle that
• 23:13
  Speaker 3: they loved and we were super close it was always
• 23:17
  Speaker 3: just the three of us so we're really really close
• 23:19
  Speaker 3: even now and it's just beautiful and I just go
• 23:22
  Speaker 3: it's not about the money or the things that you
• 23:24
  Speaker 3: buy them it's about the time that you spend with
• 23:26
  Speaker 3: them it's about the experiences like I would do little
• 23:29
  Speaker 3: things we had this like I would make little post-it
• 23:34
  Speaker 3: notes and I'd do like a treasure hunt around the house. Like,
• 23:36
  Speaker 3: your next clue is in this place or your next
• 23:38
  Speaker 3: clue is in this place. And at the end was
• 23:40
  Speaker 3: like a little bowl of lollies. And that was like
• 23:43
  Speaker 3: the funnest thing for them on some days. So I'm
• 23:46
  Speaker 3: just like not being able to get loans and credit cards.
• 23:50
  Speaker 3: And I was incredible. And to balance working part-time and
• 23:55
  Speaker 3: the government payments I could get as a single parent,
• 23:58
  Speaker 3: I was okay.
• 23:59
  Speaker 2: But that sounds like a lot of work on your behalf.
• 24:02
  Speaker 2: So I'm not saying like, oh, like, oh, great. It
• 24:05
  Speaker 2: all just worked out. But like, let's go back. You
• 24:07
  Speaker 2: said you had a running word document. You had a
• 24:09
  Speaker 2: budget of six weeks in advance. Like my friend, you
• 24:12
  Speaker 2: had your finger on the pulse the entire time. Even
• 24:14
  Speaker 2: if maybe at points during that, you're like, I'm so
• 24:17
  Speaker 2: out of control. Like, I don't know what I'm doing.
• 24:19
  Speaker 2: I'm just so impressed because if we go back in
• 24:23
  Speaker 2: time to me being in my early 20s and like
• 24:25
  Speaker 2: a lot of our community being in their early 20s,
• 24:29
  Speaker 2: I feel like we didn't have that same level of like,
• 24:32
  Speaker 2: I don't know, you just seem to have a level
• 24:33
  Speaker 2: of gratitude and like gratefulness to be, oh, I got
• 24:37
  Speaker 2: to spend time with my kids. I get to do
• 24:39
  Speaker 2: this and I get to do that. And like, even
• 24:40
  Speaker 2: your language is I got to, I get to not, oh,
• 24:45
  Speaker 2: I had to be create, like we could reframe this
• 24:47
  Speaker 2: and you could be like, look, I had to be
• 24:48
  Speaker 2: really creative because we had no money. So I made
• 24:51
  Speaker 2: an activity out of post-it notes because like there was
• 24:53
  Speaker 2: nothing else. Like you've just got the exact opposite of
• 24:57
  Speaker 2: a scarcity mindset. And that's what is creating the childhood memories.
• 25:02
  Speaker 2: That's what creates like the wholesomeness and even like the
• 25:05
  Speaker 2: closeness that you guys clearly have now, I can tell
• 25:09
  Speaker 2: that your kids call you regularly because of the way
• 25:12
  Speaker 2: you talk about them.
• 25:13
  Speaker 3: Oh, every day.
• 25:14
  Speaker 2: Exactly. And I want my kids to grow up like that.
• 25:17
  Speaker 2: Like I have done something right. If I do something
• 25:20
  Speaker 2: and my kids are immediately like, oh, Nicole, mom, like
• 25:22
  Speaker 2: to me, that's what I'm trying to create. And it
• 25:24
  Speaker 2: sounds like you've done it.
• 25:25
  Speaker 3: Yeah. My son actually lives down closer to his dad now.
• 25:29
  Speaker 3: And I remember it was a few years ago and
• 25:31
  Speaker 3: he calls me, he's like, mom, I've got a flat tire.
• 25:34
  Speaker 3: And I go, What do you want? Like I live
• 25:36
  Speaker 3: an hour away. I go, all right, what would you
• 25:39
  Speaker 3: like me to do? I said, you know, your dad's
• 25:41
  Speaker 3: five minutes away, right? Yeah. It's just instincts. Like we're just.
• 25:46
  Speaker 2: He just wants his mom.
• 25:47
  Speaker 3: Yeah. We're just super close. And I'm like that with
• 25:50
  Speaker 3: my niece as well. She's similar age to my youngest.
• 25:52
  Speaker 3: We grew up. I didn't have a daughter. She's just
• 25:55
  Speaker 3: like my, my daughter. I set her up on shares
• 25:58
  Speaker 3: when she turned 18. I just said, stop it. Let
• 26:01
  Speaker 3: me set this up for you. I'll match what you
• 26:03
  Speaker 3: put in until you're 21. Just to, she doesn't have
• 26:06
  Speaker 3: that kind of financial literacy thing. She's not going to
• 26:08
  Speaker 3: get it from her family. So I was like, I
• 26:10
  Speaker 3: have it. Let me help you. You can thank me
• 26:13
  Speaker 3: in 20 years time. So she just transfers me $ 20
• 26:16
  Speaker 3: a week. I match it and we're building it. And
• 26:20
  Speaker 3: it's amazing because I'm like, they don't understand it right now,
• 26:24
  Speaker 3: but it's building them something great. And the trust that
• 26:28
  Speaker 3: they have to allow me to set that up for
• 26:30
  Speaker 3: them is awesome too. So even my youngest son, My
• 26:34
  Speaker 3: youngest son, his dad passed away a few years ago
• 26:36
  Speaker 3: and he got quite a big sum of money and
• 26:40
  Speaker 3: I had no idea what to do. So I went
• 26:42
  Speaker 3: to her, I said, let's invest in a financial advisor.
• 26:45
  Speaker 3: So we did that.
• 26:46
  Speaker 2: Good girl.
• 26:47
  Speaker 1: Yeah.
• 26:47
  Speaker 3: And we invested his money, not in, he has a shares,
• 26:50
  Speaker 3: his account, but in another platform that he contributes to.
• 26:55
  Speaker 4: Yeah.
• 26:55
  Speaker 2: They would have set something like more advisor aligned up.
• 26:58
  Speaker 3: Yeah. So he contributes to that like $ 20 a week.
• 27:01
  Speaker 3: He contributes to his shares, his $ 20 a week. And
• 27:04
  Speaker 3: he just jumps on every month or so or I'll
• 27:07
  Speaker 3: log in. I'll say, oh, check this out. Oh, that's awesome.
• 27:10
  Speaker 3: And just keeps contributing to it. And it's the mindset
• 27:14
  Speaker 3: thing of I heard it on a podcast. It was
• 27:16
  Speaker 3: like when the share market's down, think of it like
• 27:18
  Speaker 3: the shares are on sale and buy more. And I
• 27:22
  Speaker 3: just was like those little hacks, those little things that
• 27:24
  Speaker 3: I heard over the years, I was just like, yes.
• 27:27
  Speaker 3: And to be able to pass that on to the
• 27:29
  Speaker 3: kids and my niece is awesome because I yeah, I just,
• 27:33
  Speaker 3: I don't know. It's just, it's just so cool to
• 27:35
  Speaker 3: be able to help them. And I'm like, I wish
• 27:37
  Speaker 3: I knew this in my twenties, but the information wasn't available. So.
• 27:41
  Speaker 2: And you know what? It's so funny. Like, I feel
• 27:43
  Speaker 2: like you would have taken it up, but for someone
• 27:45
  Speaker 2: like me, the information was available. Like I've said a
• 27:48
  Speaker 2: million times, my dad was an accountant. Sometimes you're just
• 27:51
  Speaker 2: not ready to hear the information and take it in.
• 27:55
  Speaker 2: And it's also like, Someone asked me the other day,
• 27:58
  Speaker 2: they were like, Victoria, you've done more than a thousand
• 28:00
  Speaker 2: episodes of this damn podcast. Like, are you going to
• 28:03
  Speaker 2: give it up soon? And I was like, absolutely not. Like,
• 28:05
  Speaker 2: it's the love of my life. Like, no, I adore
• 28:08
  Speaker 2: what I get to do. And they were like, how
• 28:10
  Speaker 2: do you keep coming up with new topics? Like, are
• 28:13
  Speaker 2: you not running out? And I was like, well, no, because...
• 28:17
  Speaker 2: even if it's a similar topic to something I've covered before,
• 28:20
  Speaker 2: people need to hear the same narrative a heap of
• 28:23
  Speaker 2: different ways for something to finally stick. Because for you,
• 28:27
  Speaker 2: clearly like that little nugget of like, oh, it's like
• 28:31
  Speaker 2: when the supermarket's on sale, everybody loves when things are
• 28:33
  Speaker 2: on sale. If the share market's down, think of it
• 28:35
  Speaker 2: like a discount and you go, oh, that's what stuck
• 28:38
  Speaker 2: for me. And then somebody else resonates with a different narrative. Like,
• 28:42
  Speaker 2: I need to keep putting content out there literally until
• 28:46
  Speaker 2: I die, I think, because I know that it's like
• 28:50
  Speaker 2: what you're talking about. I resonate with so much because
• 28:52
  Speaker 2: you're like, I got to do this for my niece
• 28:55
  Speaker 2: and I got to do this for my kids. That's
• 28:57
  Speaker 2: how I feel about our community. I'm just like, isn't
• 28:59
  Speaker 2: it so cool that I got to teach you that?
• 29:02
  Speaker 2: And isn't it so cool that in 20 years, my friend,
• 29:05
  Speaker 2: so many of you are going to owe me a coffee,
• 29:08
  Speaker 2: at least. And I'm just so grateful that what I'm
• 29:12
  Speaker 2: doing is having impact. And it sounds like you're the same.
• 29:15
  Speaker 2: Like I can just tell by the way you speak
• 29:18
  Speaker 2: and the way you present yourself and like what I'm learning,
• 29:21
  Speaker 2: people talk about you behind your back in the best way.
• 29:25
  Speaker 2: They're always like, Oh, I wish I knew her when
• 29:26
  Speaker 2: I was younger. Or they say like, Oh, she's just
• 29:29
  Speaker 2: such a good person. I just know that you're the
• 29:31
  Speaker 2: person that if I hear people talking over each other
• 29:34
  Speaker 2: at brunch over someone, I'm like, I want to know
• 29:36
  Speaker 2: who that is. Who are they talking about? Like, that's you.
• 29:39
  Speaker 3: I think it's the energy. Everyone always says, oh, the
• 29:42
  Speaker 3: energy when you talk about the, especially my business, it's like,
• 29:45
  Speaker 3: you just, you know, and obviously it would be easier
• 29:48
  Speaker 3: if I could have started this younger, but I have
• 29:50
  Speaker 3: it now and I'm not, you know, I'm not a hundred.
• 29:54
  Speaker 3: So I'm doing what I can now and I'm going
• 29:57
  Speaker 3: to pass it on to my kids and my my
• 29:59
  Speaker 3: niece as much as possible.
• 30:01
  Speaker 2: All right, money diarist, I want to know, what are
• 30:03
  Speaker 2: your thoughts on personal insurance? Do you have it? Is
• 30:05
  Speaker 2: it something that you think about regularly?
• 30:07
  Speaker 4: Yes.
• 30:07
  Speaker 3: So I have it in my super and I have many,
• 30:10
  Speaker 3: many times logged in and gone, okay, I know what
• 30:13
  Speaker 3: I have. I know it's not enough. How do I
• 30:16
  Speaker 3: change it? And I never changed it. I knew my
• 30:20
  Speaker 3: cover wasn't right. And then you kept having Skyworld on
• 30:23
  Speaker 3: and I was like, okay. Even like my partner doesn't
• 30:27
  Speaker 3: know much about his and I was like, We're both
• 30:30
  Speaker 3: going to speak to them. So I booked him for
• 30:31
  Speaker 3: an appointment. I booked myself for an appointment. And then
• 30:35
  Speaker 3: we just paid the invoice last week. So we've got
• 30:40
  Speaker 3: the email sitting there to fill out and go back.
• 30:44
  Speaker 3: So I said, he does fly in, fly out. So
• 30:46
  Speaker 3: he's back for a week. And I said, when you're back,
• 30:49
  Speaker 3: we're going to sit down and do this together. I
• 30:51
  Speaker 3: also took us to get our, I don't have a will,
• 30:55
  Speaker 3: so we went and got those done. So I'm like,
• 30:58
  Speaker 3: we're doing all this adulting stuff that feels like I
• 31:01
  Speaker 3: shouldn't be doing it because I don't feel like an
• 31:04
  Speaker 3: adult sometimes. But yes, so we're getting them in order. Yeah,
• 31:08
  Speaker 3: we spoke to Sky Wealth and then, yeah, we're getting
• 31:11
  Speaker 3: all the paperwork done. So not sure what's involved and
• 31:14
  Speaker 3: what I need to send, but I definitely know that
• 31:16
  Speaker 3: I'm underinsured.
• 31:17
  Speaker 2: Yeah, and they'll kick the can down the street for
• 31:19
  Speaker 2: you so you don't have to and like do all
• 31:21
  Speaker 2: of the comparisons and like work out what that looks like.
• 31:24
  Speaker 2: But even just knowing that covering yourself now with adult
• 31:28
  Speaker 2: kids means that if something should happen, And like to
• 31:32
  Speaker 2: be a little bit morbid for a hot second, it
• 31:34
  Speaker 2: doesn't become their responsibility. And I think, you know, I
• 31:38
  Speaker 2: look at it and I go, oh, like I've got
• 31:39
  Speaker 2: young kids and like my mindset around insurance is probably
• 31:43
  Speaker 2: a little bit different. But then we look at yours
• 31:45
  Speaker 2: and I'm like, just get it set up so that
• 31:47
  Speaker 2: you can thrive. Like, and that everything that you set
• 31:51
  Speaker 2: up and you work towards and your small business actually
• 31:54
  Speaker 2: was worth the time. Like, because I think so many
• 31:56
  Speaker 2: people get to retirement and go, oh, I didn't set
• 31:59
  Speaker 2: these things up or I didn't. you know, take investing
• 32:01
  Speaker 2: seriously enough and earn really good money. And ultimately they're
• 32:06
  Speaker 2: not in a better position for the sacrifices that they've made.
• 32:09
  Speaker 2: And I think that just covering it and backing it
• 32:11
  Speaker 2: up is so important. Now, Money Dice, I feel like
• 32:15
  Speaker 2: your best money habit is honestly your mindset, but I
• 32:18
  Speaker 2: want to hear from you. What do you think is
• 32:20
  Speaker 2: your best money habit?
• 32:22
  Speaker 3: Oh yeah. I don't know that I try and maximize
• 32:24
  Speaker 3: where my money goes, I suppose. I always think is
• 32:26
  Speaker 3: that because I was a single mum or because was
• 32:29
  Speaker 3: I just always like that? But yeah, I try. I
• 32:33
  Speaker 3: have lots of sub-accounts set up. So I sit down
• 32:35
  Speaker 3: and I go, where does my money go? Like I have,
• 32:38
  Speaker 3: you know, I'm setting up an emergency fund as well.
• 32:41
  Speaker 3: So that's started, you know, house savings and, you know,
• 32:46
  Speaker 3: the old barefoot investor, you know, set up like your
• 32:49
  Speaker 3: fire extinguisher and all your little sub-accounts. I've got a
• 32:52
  Speaker 3: dog account so that when the dogs need their vet,
• 32:55
  Speaker 3: stuff I've got a Christmas account so like it's you
• 32:58
  Speaker 3: know you just chuck small amounts in you know 20
• 33:02
  Speaker 3: bucks here 50 bucks there and then everything just grows
• 33:04
  Speaker 3: and when you need something it's like oh I've got
• 33:06
  Speaker 3: a car account for regos and services and things so
• 33:09
  Speaker 3: that yeah that's probably my best money habit and as
• 33:12
  Speaker 3: I've increased because I pay myself a wage every week
• 33:16
  Speaker 3: as I've increased that over the years I've like increased
• 33:20
  Speaker 3: what goes into those sub accounts by like ten dollars
• 33:23
  Speaker 3: or like I have a bills account. So it's like
• 33:25
  Speaker 3: Netflix and KO and all the other stuff that I
• 33:28
  Speaker 3: pay for, I'll transfer $ 10 a week and then it
• 33:30
  Speaker 3: will transfer back when the direct debits are coming out.
• 33:34
  Speaker 2: Yeah, that's so good. Like that's such good clarity.
• 33:38
  Speaker 3: And also passing that on, not to my oldest son
• 33:41
  Speaker 3: because he hasn't been at home for a while, but
• 33:44
  Speaker 3: my youngest, he also has sub accounts. He has a
• 33:46
  Speaker 3: holiday account and a car account and all these accounts.
• 33:49
  Speaker 3: And it's just like so cool to watch him set
• 33:53
  Speaker 3: himself up so well financially because I was able to, one,
• 33:57
  Speaker 3: he was receptive to the information, but that I was
• 34:00
  Speaker 3: able to help him with that too. So I just
• 34:03
  Speaker 3: like helping people and making sure that I'm set up,
• 34:06
  Speaker 3: but also able to live my life. I don't want
• 34:09
  Speaker 3: to just work and pay bills and that's it. It's like, no,
• 34:13
  Speaker 3: life's here to be lived. And I had a close
• 34:15
  Speaker 3: family friend pass away last week suddenly, and it's just
• 34:20
  Speaker 3: been like, They were 75. They're like my bonus parents.
• 34:23
  Speaker 3: I'm very lucky.
• 34:24
  Speaker 2: But it's still devastating.
• 34:27
  Speaker 3: It's just like, yeah, you want to just live your
• 34:30
  Speaker 3: life now. And I see the generation above me, like
• 34:33
  Speaker 3: my parents' generation, and they're retiring and not doing anything.
• 34:37
  Speaker 3: And I'm like, oh, like you've just worked so hard
• 34:39
  Speaker 3: and now you're not doing anything. And it makes me
• 34:41
  Speaker 3: so sad. And I'm like, I am traveling now and
• 34:45
  Speaker 3: I'm living life now. And I'm just going to, yeah.
• 34:48
  Speaker 3: who knows what I'll be like in 20 years. I
• 34:50
  Speaker 3: might not be able to travel. So while I can.
• 34:54
  Speaker 2: 100%. And I feel like it's things like that, that
• 34:57
  Speaker 2: they shouldn't have to happen for us to really take
• 35:00
  Speaker 2: life seriously. But I feel like it's that really stark
• 35:04
  Speaker 2: reminder that life is actually fragile. And, you know, for me,
• 35:09
  Speaker 2: you said 75 and I was like, oh my God,
• 35:11
  Speaker 2: that's so young nowadays.
• 35:12
  Speaker 3: That's what I thought.
• 35:14
  Speaker 2: It feels so young. Like my parents, my dad, don't
• 35:17
  Speaker 2: tell anybody, turns 70 next year. And like, I just go, wow,
• 35:22
  Speaker 2: that's so young and so old at the same time.
• 35:25
  Speaker 2: Like to him, the world is ending he's just like
• 35:28
  Speaker 2: oh my goodness like 70 and to me I'm like
• 35:31
  Speaker 2: oh no like that's fine in my head you have
• 35:33
  Speaker 2: forever to go but then I was like wait no
• 35:36
  Speaker 2: hold on hold on like we don't actually live forever like.
• 35:39
  Speaker 3: That's the same as my mum and she's like oh
• 35:42
  Speaker 3: but I'm older I go but you're not a hundred.
• 35:44
  Speaker 2: Yeah you're not a hundred so we don't need to
• 35:46
  Speaker 2: worry yet I'm just like come on yeah see that's
• 35:50
  Speaker 2: exactly how I feel but then when someone passes away
• 35:52
  Speaker 2: at 75 you just go wow, like that's so soon,
• 35:57
  Speaker 2: like so soon. So it's, I'm so sorry to hear that.
• 36:02
  Speaker 2: Money diarist, I feel like reflecting on what you've said
• 36:04
  Speaker 2: about your best money habit, it's that you share it.
• 36:07
  Speaker 2: Like not that you share the cash that you have,
• 36:09
  Speaker 2: which I'm sure you do, but like you're financially empowering
• 36:12
  Speaker 2: other people. Like to me, that's the best money habit. Like,
• 36:16
  Speaker 2: what do you mean? Everybody that you know, you get
• 36:18
  Speaker 2: close with and cross paths with is better off financially
• 36:21
  Speaker 2: because of you. Yes, please.
• 36:23
  Speaker 3: Yes.
• 36:24
  Speaker 2: That's a good deal. You're a good friend. Now let's
• 36:27
  Speaker 2: flip it. What's the worst money habit you have?
• 36:30
  Speaker 3: Sometimes not spending it. And I think that's still a
• 36:33
  Speaker 3: little bit of that. It took me a long time
• 36:36
  Speaker 3: in the business as well to be like, it's okay
• 36:39
  Speaker 3: to invest in the business, invest in yourself, buy yourself things.
• 36:43
  Speaker 3: Don't just buy what's the cheapest on the menu or
• 36:46
  Speaker 3: what's on sale at the shops because you have a
• 36:49
  Speaker 3: lifestyle where you can afford more. So it's It's just
• 36:53
  Speaker 3: constantly reminding myself of that. And that's just a mindset thing.
• 36:56
  Speaker 3: It's just trying to always work on my mindset around money,
• 36:59
  Speaker 3: around life, and just, yeah, not limiting myself. Also, like,
• 37:04
  Speaker 3: don't just spend money frivolously because we still need to
• 37:07
  Speaker 3: set ourselves up. But just finding that balance.
• 37:11
  Speaker 2: Enjoying the journey.
• 37:13
  Speaker 3: Yeah.
• 37:13
  Speaker 2: So now that we've spoken... Tell me, you said, oh,
• 37:17
  Speaker 2: I reckon, you know, I'm looking B, B plus. What
• 37:21
  Speaker 2: do you reckon? Is that fair? Because I feel like
• 37:23
  Speaker 2: you've clocked it. Like you've done so well and yet
• 37:27
  Speaker 2: you still think you're a B plus. What would it
• 37:29
  Speaker 2: take for you to do, for you to be on
• 37:32
  Speaker 2: the show and say, Navi, I'm an A plus? Like
• 37:34
  Speaker 2: what does that version of you look like?
• 37:36
  Speaker 3: I think it's just the monetary value of what I
• 37:38
  Speaker 3: have is like, but my knowledge and what I'm doing
• 37:43
  Speaker 3: are probably all correct. I think it's like, oh, I
• 37:46
  Speaker 3: don't own property or my super is not high enough.
• 37:50
  Speaker 3: But then I go, oh, but between super and investing,
• 37:53
  Speaker 3: that's still a lot. And it was you with the
• 37:55
  Speaker 3: investing that was like, you invest outside super so you
• 37:59
  Speaker 3: have more control over your money if you want to
• 38:02
  Speaker 3: access it in 10 years time or whatever. I was like, oh,
• 38:05
  Speaker 3: that's actually so clever. So I do put into super,
• 38:08
  Speaker 3: but I do also into my shares.
• 38:10
  Speaker 2: You've got to have a balance and it's hard to
• 38:12
  Speaker 2: work out what that looks like. But I think If
• 38:15
  Speaker 2: you want to have a life before 65 and be
• 38:18
  Speaker 2: able to choose to work part-time because it's not a
• 38:22
  Speaker 2: financial thing or choose to retire early, you're not going
• 38:27
  Speaker 2: to be doing that and relying on super. How are
• 38:29
  Speaker 2: we able to structure life so that we can support
• 38:33
  Speaker 2: ourselves for that period of time, but also like superannuation
• 38:36
  Speaker 2: is so sexy, like it's very tax efficient. And the
• 38:38
  Speaker 2: more money you're earning, you're probably looking at super being like,
• 38:41
  Speaker 2: that's a really good deal because you are at the
• 38:44
  Speaker 2: highest marginal tax bracket now. So you kind of look
• 38:47
  Speaker 2: at it and go, it's really sexy, but also it's
• 38:50
  Speaker 2: out of reach. So how do we find a balance
• 38:52
  Speaker 2: that works for us? Is that something that you're still
• 38:54
  Speaker 2: working on?
• 38:55
  Speaker 3: Yeah, definitely. So I think when I was thinking about
• 38:58
  Speaker 3: the money grade, I was like, oh yeah, I think
• 39:00
  Speaker 3: I'm an A because I feel like I'm pretty money savvy.
• 39:02
  Speaker 3: I feel like I got through you know, raising kids
• 39:05
  Speaker 3: and life and, you know, everything else pretty well financially.
• 39:10
  Speaker 3: And I've worked on my mindset and yeah, I have
• 39:13
  Speaker 3: big goals for the business and life and everything. And
• 39:16
  Speaker 3: then I was like, oh, but maybe it's just a
• 39:18
  Speaker 3: B plus. It's got like those things. If you listen
• 39:21
  Speaker 3: to someone else, you'd be like, oh, you're killing it.
• 39:23
  Speaker 3: But when it's yourself, you're like, yeah, you can do better. Yeah.
• 39:27
  Speaker 2: And I feel like you've got like a really holistic
• 39:30
  Speaker 2: mindset where you're like, well, actually, Victoria, I'm just not
• 39:33
  Speaker 2: where I want to be. Like, it's not a comparison
• 39:36
  Speaker 2: thing to me. The way you're grading yourself is actually
• 39:39
  Speaker 2: just a, I would like more money in super. I'm
• 39:41
  Speaker 2: still working out what this, you I don't know what
• 39:46
  Speaker 2: my retirement's looking like. I'm hustling at the moment in
• 39:49
  Speaker 2: my business and probably need to, you know, work out
• 39:51
  Speaker 2: what that's going to look like and do some planning.
• 39:54
  Speaker 2: I feel like that's quite fair. Whereas I really get
• 39:57
  Speaker 2: disappointed when people say, oh, I recommend I'm a B
• 40:00
  Speaker 2: because somebody else is richer or, you know, someone else
• 40:02
  Speaker 2: has more. Like then I go, oh, are you? Like
• 40:04
  Speaker 2: to me, it's about your habits and your mindset. But
• 40:07
  Speaker 2: then also I would look at myself. I'm not an A.
• 40:10
  Speaker 2: Like if you look at my knowledge, A plus, A
• 40:12
  Speaker 2: plus plus. Like I know what I should be doing.
• 40:15
  Speaker 2: But then I look at where I'm sitting and I go, okay, well,
• 40:18
  Speaker 2: I'm not where I want to be yet. So like
• 40:20
  Speaker 2: I'm still a work in progress as well. I get it.
• 40:23
  Speaker 2: I get it.
• 40:23
  Speaker 4: Yeah.
• 40:23
  Speaker 3: I think I heard there was another money diary where
• 40:26
  Speaker 3: she said, I think you still always want to be
• 40:30
  Speaker 3: wanting to achieve more. So if you give yourself like
• 40:32
  Speaker 3: the highest grade, then does that mean you've made it?
• 40:35
  Speaker 3: Because you always want to be doing better. You always
• 40:37
  Speaker 3: want to be doing a little bit more.
• 40:39
  Speaker 2: Yeah. I feel like if you're not learning, you're not living.
• 40:42
  Speaker 2: So that's a good mindset.
• 40:43
  Speaker 3: I'm big on learning and just investing knowledge to yourself.
• 40:47
  Speaker 3: Like knowledge is just power. And business I'm always doing
• 40:51
  Speaker 3: business development stuff and I'm always listening to finance and
• 40:54
  Speaker 3: personal development so just in all aspects just trying to
• 40:58
  Speaker 3: do better.
• 40:58
  Speaker 2: That's shining out of you, my friend. I can tell.
• 41:01
  Speaker 2: I can tell in the best possible way. Oh my goodness.
• 41:04
  Speaker 2: I wish we had more time. Thank you so much
• 41:07
  Speaker 2: for hanging out today, for sharing your money story. I
• 41:09
  Speaker 2: just know that so many people in our community are
• 41:11
  Speaker 2: going to be like, how, how did she do that?
• 41:14
  Speaker 2: This woman is a wizard. We are all genuinely so
• 41:17
  Speaker 2: proud of you. And I'm just so grateful that you're
• 41:18
  Speaker 2: part of our community. Like what an absolute privilege. So
• 41:22
  Speaker 2: thank you so much.
• 41:23
  Speaker 3: Oh, thank you so much.
• 41:29
  Speaker 2: The advice shared on She's on the Money is general
• 41:32
  Speaker 2: in nature and does not consider your individual circumstances. She's
• 41:35
  Speaker 2: on the Money exists purely for educational purposes and should
• 41:39
  Speaker 2: not be relied upon to make an investment or financial decision.
• 41:43
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• 41:45
  Speaker 4: Read the PDS, TMD and obtain appropriate financial.
• 41:48
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• 41:50
  Speaker 4: Victoria Devine and She's On The Money are authorised representatives
• 41:54
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