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She Grew Up in Government Housing. Now She's Building a Property Portfolio. · She's On The Money

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Speaker 1: My name is Satasha Bamblet. I'm a proud First Nations
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Speaker 1: woman and I'm here to acknowledge country te glennyan Ganya,
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Speaker 1: Niana Kaka yah y and Binahaka nian Arka In, Nimbini,
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Speaker 1: yakarum Jar Doumayagumika Umaga, Ihowaka, nilewaman damind Imlan Bumba, bang
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Speaker 1: gadaboma in and now in Waka Ghana and yak rum
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Speaker 1: Jar Watanadana. Hello, beautiful friends, we gather on the lands
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Speaker 1: of the Aboriginal people. We thank acknowledge and respect the
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Speaker 1: Abiginal people's land that we're gathering on today. Take pleasure
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Speaker 1: in all the land and respect all that you see.
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Speaker 1: She's on the Money podcast acknowledges culture, country, community and connections,
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Speaker 1: bringing you the tools, knowledge and resources 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 habits
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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 episodes brought to you by our
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Speaker 2: friends at sky Weals, where I get the absolute privilege
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Speaker 2: of sitting down with one of our She's on the
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Speaker 2: Money community members and asking 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 V
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Speaker 2: and Team. After a year of consideration and peer pressure
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Speaker 2: from my friends and family, I've finally decided to nominate
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Speaker 2: myself for a Money Diaries episode. I grew up in
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Speaker 2: Department of Communities housing with my mum, who was challenged
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Speaker 2: with some serious addiction issues. After school, I qualified as
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Speaker 2: a nurse and lived paycheck to paycheck. Ten years ago,
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Speaker 2: my mom passed away suddenly and unexpectedly. Struggling emotionally and financially,
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Speaker 2: I soon became an addicted listener of the podcast. I've
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Speaker 2: literally taken every piece of advice, from personal insurance to superannuation.
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Speaker 2: Fast forward to now, I'm thirty two. I own two properties,
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Speaker 2: forty thousand oweing on my owner occupied proper and an
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Speaker 2: investment property. I hope to hear from you soon, Money Diarist.
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Speaker 2: You are definitely hearing from me soon. The second that
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Speaker 2: I hit my inbox, I could not wait to learn more.
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Speaker 2: Welcome to the show.
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Speaker 3: Thank you so much for having me.
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Speaker 2: I am so excited to learn a little bit more
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Speaker 2: about you and your journey. It feels like it's going
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Speaker 2: to be like a bit of a roller coaster, Like
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Speaker 2: I feel like I've just got to like buckle in.
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Speaker 3: This is going to be a journey.
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Speaker 2: Yeah, all right, well let's go on it together. Before
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Speaker 2: I ask you my favorite question, I'm going to ask
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Speaker 2: you what grade would you give your money habits from
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Speaker 2: A three to F If I asked you to give
2:32
Speaker 2: them a grade, I.
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Speaker 3: Think it'd be everyone can improve somewhere.
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Speaker 2: All right, let's learn more about that. But I can
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Speaker 2: already tell like your body language, your energy, like your story,
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Speaker 2: like it's giving boss, Like I just know she's got
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Speaker 2: her shit together. So money darist, tell me a little
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Speaker 2: bit more about your money story and the things that
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Speaker 2: have impacted it.
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Speaker 3: So I'd say, like most people, my money story was
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Speaker 3: impacted a lot by my parents. My mom, as you've
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Speaker 3: just read, she was in department of Community Housing, she
3:03
Speaker 3: didn't have a car, she didn't have a job, she
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Speaker 3: lived fortnite to fortnite on Centralink payments. So I grew
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Speaker 3: up observing that and then contrastingly watching my dad, who
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Speaker 3: has many properties, has a nice portfolio, works as a builder,
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Speaker 3: owns his own company. I had two very different lenses
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Speaker 3: of what life could look like. Then when she passed away.
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Speaker 3: I think most people expect that when a parent passes
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Speaker 3: that you're going to come into some inheritance, and that
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Speaker 3: wasn't the case. And it really again shifted my perspective
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Speaker 3: and changed my attitude a lot towards money and life
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Speaker 3: and like our purpose I guess. So, yeah, in my instance,
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Speaker 3: there wasn't any inheritance. There was actually a lot of
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Speaker 3: debt accrued, which was obviously fortunately white due to her death.
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Speaker 3: But yeah, that impacted my story a lot, losing mom.
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Speaker 2: So tell me a little bit more about growing up
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Speaker 2: with that contrast view of money, because obviously you'd like
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Speaker 2: go to one parent's house and have one experience and
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Speaker 2: another parent having another experience. At what point did you realize, oh,
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Speaker 2: these things are different, like because I think that when
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Speaker 2: you're really little, you just go mum's house. Dad's house.
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Speaker 2: Does house has something shiny? Mum's house doesn't have that,
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Speaker 2: But you kind of can't comprehend why or when. At
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Speaker 2: what point did you realize that maybe one of the
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Speaker 2: biggest differences was money.
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Speaker 3: I think I was eight, my dad had got custody
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Speaker 3: of me, soul custody of me, So I was spending
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Speaker 3: less time at Mum's house. So Mum's house wasn't normalized anymore.
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Speaker 3: It was now there's a shared custody agreement. So I
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Speaker 3: was spending majority of time with my dad and realizing, like,
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Speaker 3: we don't have to wait till the end of the
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Speaker 3: fortnight to get that or or there's no timeframe essentially,
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Speaker 3: like there's just always this like free flowing cash coming
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Speaker 3: in like that, Like it's he's not concerned about money, likes,
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Speaker 3: it's just it's not a thing he's not checking like
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Speaker 3: the atm in those days, you know, going into the
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Speaker 3: bank and checking your balance before we're making any transactions
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Speaker 3: or anything. It was just he wasn't concerned by it
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Speaker 3: at all, whereas Mom like really just she struggled today sometimes,
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Speaker 3: like we just weren't eating for the second part of
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Speaker 3: the fortnight because she couldn't afford it. And I think, yeah,
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Speaker 3: realizing that I would have been about eight years old
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Speaker 3: when I made that move to Dad's.
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Speaker 2: Yeah, and did you understand why those decisions were being
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Speaker 2: made by your mom? Like could you understand you know
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Speaker 2: why I shared custody agreement existed because I think For
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Speaker 2: some kids, they're like, I don't get it. For other kids,
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Speaker 2: you're like, yes, I feel much safer it my dad's
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Speaker 2: or you know, there might be so many underlying things
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Speaker 2: going on. Was this something you could comprehend at that age.
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Speaker 3: Yeah, Sadly, as a child, I really did understand. Unfortunately,
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Speaker 3: my mom she did struggle with some substance youth issues
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Speaker 3: and she was incarcerated for a period of my childhood,
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Speaker 3: which I think you forced the courts to make that decision.
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Speaker 2: Yeah.
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Speaker 3: I was very much aware of what was happening, mostly
6:17
Speaker 3: because I wasn't in attendance for court. But my dad
6:20
Speaker 3: felt it was his responsibility to still maintain some contact
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Speaker 3: with my mom.
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Speaker 2: It's my mom, No, what an iconic guy.
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Speaker 3: Yeah. So there were a few occasions where I did
6:31
Speaker 3: visit the prison and I did visit mom, and I
6:35
Speaker 3: think I would have been perhaps ten at that point,
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Speaker 3: and it was It's deeply embedded in my brain. I
6:44
Speaker 3: can't forget it. I can't unfeel it, unsee it.
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Speaker 2: No, And I'm really sorry you in that way had
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Speaker 2: to grow up so quickly, because that's just not something
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Speaker 2: that I think any of us would wish for an
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Speaker 2: eight or a ten year old to be able to comprehend,
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Speaker 2: like I would love for you the jail to just
7:01
Speaker 2: be a tile on a monopoly game, but unfortunately that's
7:05
Speaker 2: not the case. How has that changed the way that
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Speaker 2: you view life? Because like, walking in there, you would
7:11
Speaker 2: have been honestly overwhelmed or consumed, not really understanding a lot.
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Speaker 2: But as you get older, you start to comprehend more.
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Speaker 2: And I feel like that might have brought out a
7:19
Speaker 2: lot of different emotions, not just oh my mom's there,
7:22
Speaker 2: I'm sad that I'm missing her. It's now maybe a
7:25
Speaker 2: little bit of resentment, a little bit of, you know,
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Speaker 2: being really frustrated about the situation. Like how did that
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Speaker 2: transpire as you got to your teenage years?
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Speaker 3: I think by teenage years, I became more like her.
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Speaker 3: I made poor decisions. I wasn't the best version of myself,
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Speaker 3: I think because I missed her so much and I
7:46
Speaker 3: wasn't having that sort of closeness to her anymore. My
7:52
Speaker 3: behavior trend was sort of more towards her, to be honest,
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Speaker 3: Like I was just realious, getting suspended from school, not
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Speaker 3: doing homework, not really like paying attention, just not future
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Speaker 3: focused at all, Like I just I didn't care if
8:05
Speaker 3: mum wasn't there, Mom wasn't looking after me, nothing else
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Speaker 3: really mat it. I just as a child in hindsight
8:12
Speaker 3: now looking back, I was just in a quite a
8:14
Speaker 3: self destruction mode because I had no I thought at
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Speaker 3: the time, I have no structure, I have no support, Like,
8:21
Speaker 3: where's my Mum's not doing her job looking after me?
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Speaker 3: She's she's away.
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Speaker 2: In my mind, she was away, Yeah, and I mean
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Speaker 2: she was. She wasn't present, and she wasn't present due
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Speaker 2: to the decisions that she made. So to you if
8:34
Speaker 2: she was on holiday or if she was, you know, incarcerated,
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Speaker 2: to a younger child, like the same experience, like, ultimately,
8:41
Speaker 2: mum's choosing not to be here through the decisions that
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Speaker 2: she's made, and that's really really rough. So at what
8:48
Speaker 2: point did you realize, oh, this isn't for me, Like
8:52
Speaker 2: did your mum get out while you were still under eighteen?
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Speaker 3: Yes, so she was only incarcerated for just overy gear
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Speaker 3: I think it was thirteen months, but it felt like
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Speaker 3: a lifetime, to be honest, And then when she did
9:03
Speaker 3: get out, she kind of went through periods of being
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Speaker 3: clean and being not and we were able to maintain
9:10
Speaker 3: a relationship, and it was predominantly through her mom, so
9:15
Speaker 3: my nana that we were able to maintain that closeness.
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Speaker 2: Oh, tell me about your nana. I feel like this
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Speaker 2: is something that maybe you would have created a really
9:24
Speaker 2: strong bond between the two of you, because like that's
9:26
Speaker 2: traumatic for both of you.
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Speaker 3: It did, Yeah, it really did our closeness, I think
9:32
Speaker 3: because the weekends, will say, when my mom typically would
9:36
Speaker 3: have custody and she wasn't able to, my nana would
9:40
Speaker 3: just scoop me up and look after me. She had
9:43
Speaker 3: a big role in raising me on Like we are
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Speaker 3: super close even now to this day, like we're very close.
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Speaker 3: We've maintained that.
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Speaker 2: I could see your body language change when you mentioned
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Speaker 2: your nana. You like dimmed and I was like, Oh,
9:55
Speaker 2: she loves her nana. I can see she's a nana's girl.
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Speaker 2: That's so so sweet.
10:00
Speaker 1: That's yeah.
10:03
Speaker 2: I was like, girl, if you want to start lying,
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Speaker 2: it's not going to fly. You are so transparent in
10:07
Speaker 2: the nicest of ways. So you hit eighteen, you are
10:14
Speaker 2: technically free in a way. And I feel like a
10:16
Speaker 2: lot of us, especially when we're teenagers, we have this
10:18
Speaker 2: thing in our head. We're like when I'm aden, I'm
10:20
Speaker 2: going to be able to do whatever I want. Tell
10:22
Speaker 2: me what that looked like.
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Speaker 3: So I think turning eighteen was a great time in
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Speaker 3: my life, but also just so tragically shitty. Actually, in hindsight,
10:37
Speaker 3: I just thought, the second a turn eighteen, it's just
10:40
Speaker 3: going to turn off all of these emotions that I
10:42
Speaker 3: have that are connected to my mum, and I would
10:44
Speaker 3: just like flourish out of this cocoon and be this
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Speaker 3: like butterfly, And it just wasn't the case.
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Speaker 2: That's so optimistic, though. I love that we all seem
10:53
Speaker 2: to have this idea that you know, when this certain
10:55
Speaker 2: date hits, all of a sudden, all my trauma is
10:58
Speaker 2: going to be disregard. Yeah, I was like, I'll be
11:01
Speaker 2: a new woman.
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Speaker 3: Everything will be fine. I'll be a teen. I had
11:05
Speaker 3: moved out prior to being eighteen, and I was in
11:08
Speaker 3: rental in South Perth. I was thinking at the time, like,
11:12
Speaker 3: everything's going to be fine, Everything's just going to fall
11:14
Speaker 3: into place, and it just didn't know. It turned out
11:19
Speaker 3: it needed a lot more determination and a lot more
11:21
Speaker 3: hard work and a lot more persistency, to be honest.
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Speaker 2: So it sounds like like in I don't know how
11:27
Speaker 2: to say this. You turned out well? Is that a
11:29
Speaker 2: good thing to say? I feel like it is because
11:31
Speaker 2: you're like, I'm a nurse and you know I was
11:33
Speaker 2: living patrick to paycheck and like, I already know enough
11:35
Speaker 2: about your money story to know that you've knuckled down
11:37
Speaker 2: and gotten some really cool stuff done. But how did
11:40
Speaker 2: you go from having that childhood where you you know,
11:43
Speaker 2: obviously it was really rough and really heavy and you
11:47
Speaker 2: were acting out in your teenage years, which often so
11:49
Speaker 2: many people are saying like, these are your formative years.
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Speaker 2: If you mess the ease years up, like you're going
11:53
Speaker 2: to end up, you know, amounting to nothing. And I'm
11:55
Speaker 2: not saying that as a personal opinion. There's just a
11:58
Speaker 2: lot of I guess stereo types out there, and also
12:01
Speaker 2: a lot of people who have parents who have substance
12:04
Speaker 2: abuse is shoes. They often are expected to follow in
12:08
Speaker 2: their parents' footsteps. Has that been something that has been
12:12
Speaker 2: really hard to deal with? Or like, how have you
12:15
Speaker 2: dealt with that? Because I think that the general public
12:17
Speaker 2: and even friends and family maybe have an extra eye
12:20
Speaker 2: on you because they're like, oh, we don't want her
12:23
Speaker 2: going down the same path.
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Speaker 3: I one hundred percent agree with that, and I think
12:26
Speaker 3: my family could see all of those behaviors in me
12:29
Speaker 3: that mimicked my mom as a teenager. So when I
12:32
Speaker 3: got to eighteen, I remember my dad's asking me what.
12:35
Speaker 2: Do you want to do?
12:37
Speaker 3: Like, what are you going to do with yourself? And
12:39
Speaker 3: I just looked at him and I was like, I
12:40
Speaker 3: just shrugged my shoulder and I said, I don't know.
12:43
Speaker 3: I genuinely don't know. What do you think I should do?
12:46
Speaker 3: And he said, you're really like caring and compassionate and
12:49
Speaker 3: like you've just got this like kindness to you, So
12:51
Speaker 3: you should go be anurse. I think you should go
12:54
Speaker 3: be a nurse.
12:55
Speaker 2: I'll pay for it.
12:55
Speaker 3: I'll get you into tape. You can do your diploma
12:58
Speaker 3: there because then you can travel with it. You can
13:01
Speaker 3: do whatever you want and nurse stowids and demand. So
13:03
Speaker 3: go for it.
13:04
Speaker 2: And I did stop it. He sounds fantastic, Yeah, true story.
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Speaker 3: He paid for it, He got me in and I
13:12
Speaker 3: got my diploma, started working, and yeah, that was how
13:17
Speaker 3: my nursing career was born. Twelve years ago.
13:20
Speaker 2: I'm obsessed. So you start working as a nurse, what
13:22
Speaker 2: was that like?
13:23
Speaker 3: Initially it was quite hard because in the nursing world.
13:27
Speaker 3: If you don't get a graduate program, if you're not
13:30
Speaker 3: lucky enough to be appointed one of the very few
13:32
Speaker 3: graduate programs, it can be a little bit tough. So
13:35
Speaker 3: I did a rural gig for a little while with
13:38
Speaker 3: nursing as an enrolled nurse, and then ended up getting
13:42
Speaker 3: perth based work, which was good.
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Speaker 2: Obsessed, you were working as a nurse and living paycheck
13:48
Speaker 2: to paycheck? Why when? Where? How?
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Speaker 3: I renked by myself as an eighteen year old, nineteen
13:55
Speaker 3: year old, and even twenty year old. I just didn't
13:57
Speaker 3: care at that point. It was just and just doing
14:01
Speaker 3: the best with the knowledge that I had at the time. Basically, Yeah,
14:04
Speaker 3: I remember there would be many occasions where I just
14:07
Speaker 3: didn't have any skills at all with money that I
14:10
Speaker 3: would literally go to Nana, go to Dad, any other
14:13
Speaker 3: family member, Hey can you feel up my car with fuel?
14:17
Speaker 3: Hey can you pay this registration bill? Can you da
14:19
Speaker 3: da da da da. Everyone would try to have these
14:21
Speaker 3: financial conversations with me about budgeting and structure. I was
14:25
Speaker 3: not interested because on my dad's side of the family,
14:29
Speaker 3: I knew that if I put my hand out and
14:31
Speaker 3: asked for support, they would just help me.
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Speaker 2: Yeah, I feel like you've grown out of that. How
14:37
Speaker 2: Like what's the turning point? Because like being in that
14:39
Speaker 2: situation and being surrounded by people who quite clearly love you.
14:43
Speaker 2: I'm not saying that they should be paying for these things,
14:46
Speaker 2: but they're probably just going, you know what, like she's
14:48
Speaker 2: staying out of trouble, Like, let's just keep her in
14:51
Speaker 2: the best possible position.
14:52
Speaker 3: You know.
14:53
Speaker 2: I don't know how well off they were, whether you know,
14:56
Speaker 2: paying for your fuel was something that was super easy
14:58
Speaker 2: and it didn't even worry them, or was something that
15:00
Speaker 2: they're like, I mean, we preferred to Like what was
15:04
Speaker 2: the turning point? Like why did you decide that money
15:06
Speaker 2: was something to care about? Because it would have been
15:08
Speaker 2: so easy to continue coasting, not really caring and just
15:12
Speaker 2: live love, laughing.
15:14
Speaker 3: You know. Yeah, I wish I could say that it
15:17
Speaker 3: was some huge, big pivotal moment that was groundbreaking, but honestly,
15:23
Speaker 3: it was one simple conversation that I had with a friend.
15:26
Speaker 3: Her name's Tash.
15:27
Speaker 2: What's up, Tash?
15:28
Speaker 3: We love you, Tash eild. I think you'd know how
15:32
Speaker 3: she's in the financial space.
15:33
Speaker 2: Well, I do know her gorge. I was like, all right,
15:36
Speaker 2: we'll double down on that. She introduced me to the podcast,
15:40
Speaker 2: and she was like, that woman just has her shit together.
15:43
Speaker 3: Though, yeah, she's just delete. But I met her, i'd
15:46
Speaker 3: say twenty eighteen, twenty nineteen, and she was g owning
15:50
Speaker 3: really good money, you're saving really well, let's like take
15:53
Speaker 3: it up a notch, like you could do it better.
15:56
Speaker 3: And I had a little bit of savings, I had
15:59
Speaker 3: a little bit of financial literacy I had. I had
16:02
Speaker 3: the drive to do it. I just had the skill
16:05
Speaker 3: to do it at this point. And I remember I
16:08
Speaker 3: became really close friends with Tash really quickly, and I
16:13
Speaker 3: was just this sponge on her with all of this
16:15
Speaker 3: advice and all of this knowledge, and she was just
16:17
Speaker 3: so clever, and I was just mesmerized by everything that
16:21
Speaker 3: she was saying and everything she was doing and just
16:24
Speaker 3: just honestly so inspired. So that was the beginning of
16:28
Speaker 3: my financial literacy journey. I love that. It was awesome.
16:32
Speaker 3: I remember just every conversation we had, it'll all circle
16:38
Speaker 3: back to finance, and I learned.
16:40
Speaker 2: To just like love it.
16:41
Speaker 3: Whereas we'll say, historically, the conversations that I'd have with
16:44
Speaker 3: my family and they try to sit me down at
16:47
Speaker 3: the table and be like, should really talk about budgeting,
16:49
Speaker 3: which whatever, I didn't care about that. When Tash was
16:52
Speaker 3: talking about it, it was cool. I was listening.
16:55
Speaker 2: Good, Yeah, but isn't it crazy? And I went through
17:00
Speaker 2: a very similar thing where my dad had been saying forever,
17:04
Speaker 2: like I got my first job this second I was
17:06
Speaker 2: allowed to work like fourteen years and nine months, and
17:09
Speaker 2: I remember I worked in an ice cream shop. That
17:11
Speaker 2: was my first job. And my dad sat me down
17:13
Speaker 2: and was like, all right, you need to care about
17:15
Speaker 2: this because like you don't have any rent, you don't
17:17
Speaker 2: have any bills, like you can save all of this,
17:20
Speaker 2: but you don't have to. But what I would do
17:22
Speaker 2: is save five percent. Like I remember my dad being like,
17:25
Speaker 2: just save five percent and pretend it doesn't exist. And
17:27
Speaker 2: then every job you get after this, you're very likely
17:30
Speaker 2: going to earn more money, so we're always going to
17:32
Speaker 2: pretend you earn five percent less and then in that situation,
17:35
Speaker 2: you'll always be saving. And I was like, that sounds terrible.
17:39
Speaker 2: Let's not do that. And so like I never took
17:42
Speaker 2: his advice, and you know, I went into psychology and
17:45
Speaker 2: I didn't have any intention of working in finance, and
17:48
Speaker 2: then all of a sudden, finance became important to me
17:50
Speaker 2: and I'd go home and I was like, oh my god, Dad,
17:52
Speaker 2: I'm saving and he's like, I've been telling you to
17:54
Speaker 2: do this for years, and I literally would turn around
17:56
Speaker 2: and be like, no, you haven't. Nah nah. He's like
17:59
Speaker 2: literally other people, well, they're telling you things that you
18:01
Speaker 2: should do that I've told you, and I'd be like,
18:03
Speaker 2: nah nah, not the same. But it literally only resonates
18:07
Speaker 2: when one it's somebody that we respect and fear, and
18:10
Speaker 2: not that you don't respect your family, you know what
18:12
Speaker 2: I mean, someone that we just kind of like have
18:14
Speaker 2: a level of aspiration towards, but also at a time
18:17
Speaker 2: when you're kind of open to hearing it. So like,
18:20
Speaker 2: had you met Tash and you weren't open and ready
18:23
Speaker 2: for change or wanted to be better or do better
18:26
Speaker 2: in your life, you would have kind of been like,
18:29
Speaker 2: she just talks about money, and I think that's all
18:32
Speaker 2: she's obsessed with. I'm not vibing that. Like it could
18:35
Speaker 2: have gone two ways, right, but instead you were like,
18:37
Speaker 2: I'm ready for that. This is the change I've been
18:39
Speaker 2: looking for. And often we just don't know what we're
18:41
Speaker 2: looking for until we find it, and like we need
18:44
Speaker 2: to hear the same story or the same instructions so
18:47
Speaker 2: many times before we go hmm, maybe that is for me.
18:51
Speaker 2: So I'm just I'm so glad you found your way in.
18:54
Speaker 2: I want to get into the nitty gritty though, because, like,
18:56
Speaker 2: there is so much more to this story. Like, girl,
18:58
Speaker 2: you own or not one, but two properties? What do
19:02
Speaker 2: you do for work today? And how much money do
19:04
Speaker 2: you earn?
19:04
Speaker 3: I am a registered nurse and my base pay is
19:09
Speaker 3: one hundred and six K and this financial year I
19:12
Speaker 3: have made one hundred and eighteen.
19:14
Speaker 2: Stop it. That is so good and tell me what
19:18
Speaker 2: is your big money goal? What are you currently working towards?
19:21
Speaker 2: Because like, I feel like you're achieving a lot already.
19:23
Speaker 3: Thank you. My big money goal, as you know, I
19:26
Speaker 3: already have two properties.
19:28
Speaker 2: Crazy crazy.
19:31
Speaker 3: My big money goal is to have a third, fourth, fifth,
19:34
Speaker 3: and probably a tenth property. My dad has a big.
19:38
Speaker 2: Property property mogul. That is the plan.
19:44
Speaker 3: Yeah, that's my big money goal.
19:45
Speaker 2: I'm obsessed. So tell me about your dad's big property portfolio.
19:49
Speaker 2: You don't have to tell me too much, but is
19:50
Speaker 2: that something that he built from scratch as well? Because
19:53
Speaker 2: that something that you've gotten inspiration from or were you like, no,
19:56
Speaker 2: I just had to learn a lot of those things
19:58
Speaker 2: on my own, Like what does that look like?
20:00
Speaker 3: Yeah, I think with my dad's side of the family,
20:03
Speaker 3: they will say in their wealth creation that's definitely will
20:06
Speaker 3: say the bread and butter of it. Yeah. Cool, And yeah,
20:09
Speaker 3: my grandparents have done the same. My aunties and uncles
20:11
Speaker 3: have all done the same, And I think that that's
20:13
Speaker 3: just something I'd like to sort of follow in suit with.
20:16
Speaker 2: That's crazy knowing more about your story and just like
20:19
Speaker 2: the contrast between the way you grow up with your
20:23
Speaker 2: mum and then the way that you've grown up with
20:25
Speaker 2: your dad, Like would you say that your dad's side
20:28
Speaker 2: of the family would be viewed as kind of wealthy
20:30
Speaker 2: or just like doing well? Like what would that kind
20:33
Speaker 2: of look like?
20:34
Speaker 3: Wealthy? I'd say yeah. I mean I want to say
20:37
Speaker 3: conservatively to them, like no, they're just well off. But
20:41
Speaker 3: then I'm like, no, I want to empower how well
20:43
Speaker 3: everyone has done on Dad's side one hundred percent they
20:46
Speaker 3: are wealthy and leave their jobs for twelve months and
20:52
Speaker 3: travel Australia, which many of my aunties and uncles and
20:55
Speaker 3: their children have been fortunate enough to do. I'm going
20:57
Speaker 3: to call that wealthy.
20:58
Speaker 2: Yeah, that's real rich. Like I think that there's this
21:01
Speaker 2: idea in our heads sometimes when we talk about, you know,
21:05
Speaker 2: being wealthy, we go, oh, that means you're a billionaire
21:09
Speaker 2: or all like, but no, it's when you have a
21:11
Speaker 2: level of financial freedom to afford you choice. And that,
21:15
Speaker 2: to me, that's wealthy, as like, that is so cool, money, darrist,
21:19
Speaker 2: I want to go to a really quick break or
21:20
Speaker 2: I don't want to go to a really quick break.
21:22
Speaker 2: I have so many questions, but right after this we'll
21:24
Speaker 2: dive straight into them. All right, money diist, we are back,
21:32
Speaker 2: and I want to talk to you about investing to
21:35
Speaker 2: begin apart from your investment property. Do you invest? If so,
21:39
Speaker 2: what in? If not, why not?
21:40
Speaker 3: I do not currently invest outside of my investment property,
21:45
Speaker 3: although I am meeting with my financial advisor at the
21:48
Speaker 3: end of the month which is quickly approaching, to set
21:51
Speaker 3: that up.
21:51
Speaker 2: Oh that is so exciting. Also, how are you like
21:54
Speaker 2: besties with Tash but don't invest? Like that's crazy to me.
21:59
Speaker 3: Well, we're definitely not besties. We were just friends back
22:01
Speaker 3: in the day.
22:02
Speaker 2: But oh yeah, yeah, you know what I mean.
22:05
Speaker 3: But yes, because I know that she is definitely the
22:08
Speaker 3: investing queen. But I think my focus has definitely been
22:11
Speaker 3: more property than shares, to be honest. But it is
22:16
Speaker 3: on the to do list and it will be done
22:18
Speaker 3: by the end of the month.
22:18
Speaker 2: I'm obsessed, all right. Tell me a bit more about
22:22
Speaker 2: this investment property, because that's really impressive. So we're actually
22:25
Speaker 2: going to like jump to the next question and then
22:28
Speaker 2: come back a little bit to talk about it. So
22:30
Speaker 2: tell me about your debt situation. You have two properties.
22:34
Speaker 2: One you're an owner occupier and that can I assume
22:37
Speaker 2: was your first house you purchased.
22:39
Speaker 3: Yes, that's correct.
22:40
Speaker 2: Tell me how, when, where? Why?
22:42
Speaker 3: So it's quite a unique situation actually, So I was
22:45
Speaker 3: actually renting this apartment from the Department of Communities. I
22:51
Speaker 3: got to a stage where I was earning too much
22:54
Speaker 3: to still occupy the property, and during COVID they approached
22:59
Speaker 3: me and would you like to vacate the property or
23:02
Speaker 3: would you like to purchase the property?
23:04
Speaker 2: Oh my god, I didn't even know that was ever
23:06
Speaker 2: an option. I didn't know that was a thing. And
23:09
Speaker 2: I had been saving at that point.
23:12
Speaker 3: Tashad got me onto a really good saving scheme and
23:15
Speaker 3: I had a deposit ready to go, and I settled
23:17
Speaker 3: a month later in COVID, so I purchased the property.
23:20
Speaker 4: Stop it.
23:22
Speaker 3: So I purchased the property in February of twenty twenty
23:25
Speaker 3: two for two hundred and seventy with a forty two
23:30
Speaker 3: thousand dollars deposit.
23:31
Speaker 2: So tell me more about this. I'm just like writing
23:34
Speaker 2: down notes frantically, so I don't forget my numbers. But
23:37
Speaker 2: tell me more about how that works. They came to
23:39
Speaker 2: you and they said, look vacate babe, or you know what,
23:42
Speaker 2: you could just buy it from us. Yeah, how did
23:44
Speaker 2: they value the property? How did that transaction happen? Because
23:47
Speaker 2: clearly it didn't go on market, Like, how did they
23:50
Speaker 2: know that the house was worth two hundred and seventy grand?
23:52
Speaker 2: Like did they just be like this is a good number.
23:55
Speaker 3: Like it felt like that at the time because I
23:58
Speaker 3: was like, wait, why is it so cheap? But during
24:00
Speaker 3: COVID everything was for a moment. But they had three
24:03
Speaker 3: independent valuations from three separate banks come into the property. Wow,
24:08
Speaker 3: they just as you would for like a normal valuation.
24:10
Speaker 3: Came back to me and they said it's a fixed price,
24:12
Speaker 3: there's no negotiation, it's two seventy. And I was like,
24:16
Speaker 3: I will take it. I remember that at the time,
24:19
Speaker 3: my family saying, don't get an apartment, like it's never
24:22
Speaker 3: going to appreciate and value. Go buy land, like that's
24:24
Speaker 3: what you need. Go buy a house somewhere. And in hindsight,
24:27
Speaker 3: I'm so glad that I just bought the apartment. It
24:29
Speaker 3: was just about getting getting in, getting into the market.
24:32
Speaker 2: And getting your foot in the door. And I mean,
24:34
Speaker 2: that's a very special situation that everybody's going to find
24:37
Speaker 2: themselves in. But it's so true, and I think that
24:39
Speaker 2: that's a lot of the work that I'm trying to
24:41
Speaker 2: do in the property space is just re route people's
24:44
Speaker 2: expectations because from even our parents' age, which I don't
24:48
Speaker 2: even think is that old, like they were able to
24:51
Speaker 2: purchase property with land and that was reasonable, and you know,
24:55
Speaker 2: two hundred and seventy thousand dollars to them seems so
24:58
Speaker 2: much money. But to us, I'm like, whole up, where's
25:00
Speaker 2: you buy? Because that's like next to nothing for a property.
25:03
Speaker 2: Can I know what's that property worth? Now? I just
25:06
Speaker 2: know it's worth so much more. And you're like, hey, dad, guess.
25:09
Speaker 3: What it is currently worth? Six hundred thousand, six what
25:15
Speaker 3: I know? I know that is crazy so good.
25:19
Speaker 2: No, but like also incredible, and I mean it's not
25:21
Speaker 2: going to happen for everybody, but it's so nice to
25:24
Speaker 2: see capital gain happening inside apartments which are really I
25:29
Speaker 2: don't know, their assets that are a little bit more
25:31
Speaker 2: accessible and things that you can purchase. So tell me
25:35
Speaker 2: you purchased it with a forty two thousand dollars deposit?
25:38
Speaker 2: Did you already have that money saved? And it was
25:40
Speaker 2: sitting there and it was just like good timing that
25:43
Speaker 2: you already had it?
25:44
Speaker 3: Correct?
25:44
Speaker 2: Yeah, and then you started paying it off, you had
25:48
Speaker 2: your first mortgage. How much have you got left to
25:50
Speaker 2: go on that property as of this morning?
25:52
Speaker 3: Forty one thousand?
25:54
Speaker 2: Sorry what you've got forty one? Like less than fifty grand?
25:57
Speaker 2: Like you've got forty one thousand dollars?
25:59
Speaker 3: Oh? Wing? Correct?
26:00
Speaker 2: Six hundred thousand dollars property? Yes, yeah, babe? What all right?
26:07
Speaker 2: All right? I am so proud of you. This is
26:10
Speaker 2: crazy and we're not even done yet. So can I
26:13
Speaker 2: make some assumptions and assume that you might have used
26:16
Speaker 2: some of your equity in this property to purchase your
26:20
Speaker 2: investment property? Is that what's going on?
26:21
Speaker 3: Yes, Quaen, that is exactly what I did Yeah.
26:24
Speaker 2: Okay, iconic, And when did you decide to do that?
26:27
Speaker 2: So you purchased in feb twenty twenty two, which was
26:30
Speaker 2: not that long ago. And then when did you go
26:34
Speaker 2: an investment property might be for me?
26:36
Speaker 3: So it was about this time last year I went
26:38
Speaker 3: back to my broker and I was like, yeah, I
26:41
Speaker 3: think I'm ready for the second property. Now took me
26:43
Speaker 3: a while to find a property that I really wanted,
26:47
Speaker 3: to be honest, and the plans that have changed, because
26:50
Speaker 3: when I initially bought the apartment, the mental plan was
26:54
Speaker 3: I want the apartment paid in seven years. I know
26:56
Speaker 3: that I'm disciplined enough that I can have it done
26:58
Speaker 3: in that time frame because I just kept doing the
27:03
Speaker 3: mccorid bank calculator on how much.
27:06
Speaker 2: Yeah, yeah, yeah, that's a good one. That's a good
27:08
Speaker 2: one for anyone listening along. Like, even if you don't
27:11
Speaker 2: get like debts through mcquarie Bank, their calculators are pretty sick.
27:16
Speaker 3: Same, I don't even bank with McQuary, Like I shouldn't.
27:18
Speaker 2: See thee though. I was like, no, no, no, I
27:20
Speaker 2: use them even my broking team, Like we obviously have
27:23
Speaker 2: a whole heap of calculators. But if we're quickly on
27:25
Speaker 2: the phone with somebody that's one that we just look
27:27
Speaker 2: up online and we're like, oh, let's just do some
27:29
Speaker 2: quick numbers. It's a good one exactly.
27:31
Speaker 3: And I think seeing the number of like what I
27:33
Speaker 3: could say doing that. That was why the seven year
27:36
Speaker 3: plan became a thing. But then as I was sort
27:39
Speaker 3: of approaching my goals sooner than I thought, I was like,
27:43
Speaker 3: I should just get the apartment valued. Maybe I could
27:46
Speaker 3: buy another property and then rent the apartment move into
27:50
Speaker 3: the next property. So I sort of went back and
27:52
Speaker 3: forth and say between that for a little while and
27:55
Speaker 3: then settled on No, I want the apartment one hundred
27:58
Speaker 3: percent paid off. Like I'm going to remain living here
28:01
Speaker 3: in the smaller property, and I'm going to use the
28:04
Speaker 3: bigger loan for the investment. It's just it's going to
28:07
Speaker 3: be a better financial decision. Plus I'm comfortable in the apartment.
28:10
Speaker 2: Yeah. So tell me how much did you purchase your
28:13
Speaker 2: second property for? And what does it look like.
28:16
Speaker 3: I purchased my investment property for eight hundred and twenty.
28:20
Speaker 2: Oh my goodness, And how much deposit did you need
28:24
Speaker 2: to take in equity?
28:25
Speaker 3: I did not actually pay one dollar out of pocket
28:28
Speaker 3: for the second property, it was all equity.
28:30
Speaker 2: Jokes on you. I knew you were going to say that.
28:33
Speaker 2: I just wanted you to tell everybody how cool equity
28:36
Speaker 2: was eight hundred and twenty grand and how did you
28:40
Speaker 2: work out the cash flow of that? Because I think
28:43
Speaker 2: that a lot of us would be like, oh my god, like,
28:45
Speaker 2: I'm doing really well with my two hundred and seventy
28:47
Speaker 2: thousand dollar loon and I'm paying that off eight hundred
28:50
Speaker 2: and twenty Like where am I going to get the
28:51
Speaker 2: cash for that from? Were you really comfortable with those
28:55
Speaker 2: cash flows? Like what did that look like?
28:57
Speaker 3: I was quite terrified of the numbers initially, to be honest,
29:00
Speaker 3: only because I had been disciplined as with my extra
29:07
Speaker 3: contributions to my current owner occupied mortgage, and I remember
29:13
Speaker 3: saying to my broker, I'm not slowing down on those
29:16
Speaker 3: repayments and then the extra contributions as well. It's tenanted
29:20
Speaker 3: and I'm going to manage both, so it's negatively good.
29:24
Speaker 3: But I step on an out of pocket cost on
29:27
Speaker 3: a monthly basis to contribute to those repayments. But I'm
29:30
Speaker 3: not slowing down on the owner occupied payments either, And
29:34
Speaker 3: he was like, oh, that's going to be really tight
29:36
Speaker 3: and blah blah blah. And I was like, I will
29:38
Speaker 3: figure it out. I will make it. If your numbers
29:40
Speaker 3: aren't numbering, I will cut something out, I will cut
29:43
Speaker 3: something down, I'll revamp something. I will figure it out.
29:46
Speaker 2: Yeah, and tell me what type of rental yield are
29:49
Speaker 2: you getting on that property?
29:51
Speaker 3: Seven hundred and ten per week?
29:54
Speaker 2: Okay, so that's a pretty good rental yield, Like that's
29:58
Speaker 2: looking very very nice. Did you you know what that
30:00
Speaker 2: would rent for before you purchased it?
30:03
Speaker 3: Yes, it was actually already tenanted when I purchased, oh,
30:07
Speaker 3: which was very lucky dreaming. And I said to the
30:11
Speaker 3: tenants and the property managers like, I'm happy to have
30:15
Speaker 3: us keep you continuation contract and no variations like no
30:18
Speaker 3: increase to rent or anything like that, if anything. Like
30:21
Speaker 3: I actually offered giving them a credit to just stood
30:24
Speaker 3: of staying on. We are so kind because it wouldn't
30:27
Speaker 3: just be beneficial for me and beneficial for them too.
30:29
Speaker 3: So I was like, let's just credit, yeah, money win,
30:31
Speaker 3: which was grand. And I've actually just increased the rent
30:35
Speaker 3: with a renewal of contract for next month.
30:38
Speaker 2: Yep, so fair. So tell me a little bit more
30:41
Speaker 2: about this situation, because you mentioned you have a financial advisor,
30:45
Speaker 2: and just a backtrack if you're in a situation where
30:48
Speaker 2: you've made a decision, and this is not just our money, Doris,
30:51
Speaker 2: this is just in general. You've got somebody who's decided,
30:54
Speaker 2: you know what, I want to be a property mogul,
30:55
Speaker 2: I want to buy one property and then two and
30:57
Speaker 2: then three, and obviously money, Dost, you've had that role
31:00
Speaker 2: modeled for you. You know it's possible, and I think
31:03
Speaker 2: that's so exciting. One thing that is often really common
31:07
Speaker 2: is that you don't pay down your primary residence, like
31:10
Speaker 2: you don't care about that. You kind of go, nope,
31:12
Speaker 2: I'm going to consistently use the equity in that. And
31:15
Speaker 2: obviously you bought it for two hundred and seventy grand,
31:17
Speaker 2: it's now worth six hundred grand. I would, and I'm
31:20
Speaker 2: hazarding I guess. I would guess there's some more equity
31:23
Speaker 2: sitting in there that you could technically use for the
31:25
Speaker 2: next property if you really wanted to. Where does your
31:29
Speaker 2: motivation for smashing that loan off completely come from? Because
31:33
Speaker 2: I feel like it's probably very intertwined into your money story.
31:37
Speaker 3: That's a very fair assumption. I think sort of going
31:42
Speaker 3: back to when I was younger living with Mum, living
31:45
Speaker 3: in department of Communities housing, we were moved around a lot,
31:49
Speaker 3: so I never really consistently lived anywhere, and prior to
31:53
Speaker 3: moving into this apartment, I'd never actually lived anywhere I
31:58
Speaker 3: think more than a year in one location. So as
32:02
Speaker 3: soon as moving here, that was sort of the motivation
32:05
Speaker 3: is that this is the little like safe house.
32:07
Speaker 2: This is going to be hot.
32:09
Speaker 3: No one's taking it from me if I have nothing
32:11
Speaker 3: going on it, it's one hundred percent mine. No one's
32:14
Speaker 3: touching it. I never have to vacate. I mean I
32:16
Speaker 3: will one day when it's.
32:18
Speaker 2: My choice, but yeah, but it'll be a choice.
32:20
Speaker 3: Yeah. I wanted the choice. I wanted the freedom of that.
32:23
Speaker 2: Yeah. I was like, I reckon, you're looking for, you know,
32:26
Speaker 2: that level of security that you didn't have, and now
32:29
Speaker 2: you're gifting it to yourself. Have you ever reflected and
32:32
Speaker 2: just looked back and been like, well, the woman I
32:34
Speaker 2: am today is who baby me needed.
32:36
Speaker 3: One hundred percent. I feel like I say that to
32:39
Speaker 3: myself on like a weekly basis to be honest, Like
32:42
Speaker 3: the stability that I have now is exactly what I
32:44
Speaker 3: needed as a child, and I'm proud of it. Actually, really,
32:47
Speaker 3: I'm so proud of it.
32:48
Speaker 2: Oh, baby, you is so proud of you. She's just like, oh,
32:51
Speaker 2: that's me, Like that's crazy, Like I'm so obsessed, and like,
32:55
Speaker 2: you know, I know your mum's not around, and I
32:57
Speaker 2: don't know how sickle that relationship was, but you get
33:00
Speaker 2: to keep one with her. I just know she'd be
33:02
Speaker 2: so proud, like knowing what she's been through. I'm assuming
33:05
Speaker 2: one of the biggest fears she had was that you
33:07
Speaker 2: would follow in her footsteps and you didn't, like, imagine
33:11
Speaker 2: how black. I know she's not here, but like she is,
33:14
Speaker 2: she knows, like she knows that you've done really well.
33:16
Speaker 3: Yeah, one hundred percent. I like to think that every
33:20
Speaker 3: every decision that I'm making is just like part of her,
33:25
Speaker 3: Like I'm part of her. I'm always doing my best,
33:29
Speaker 3: not just for me, but for her. I'm her only child,
33:31
Speaker 3: and I just feel like, you know, I'm like her
33:34
Speaker 3: legacy or something.
33:35
Speaker 2: You are and you're killing it, Like, Oh, I'm so proud.
33:40
Speaker 2: Tell me you've built up a significant property portfolio for
33:43
Speaker 2: being so young, and obviously have a great income. Do
33:46
Speaker 2: you have personal insurance? If not, why not?
33:49
Speaker 3: Yes, I do.
33:50
Speaker 2: I can't.
33:51
Speaker 3: Of course I do. I don't juste have mine Morgan.
33:53
Speaker 2: I was about to say, I really doubt you don't,
33:56
Speaker 2: given yours so engrossed into the community, but like I've
33:59
Speaker 2: got ah No, of.
34:00
Speaker 3: Course no, I definitely do, and I will say that
34:03
Speaker 3: I feel like I'm this walking billboard for it with
34:07
Speaker 3: all of my friends and family, even my work colleagues.
34:10
Speaker 3: I am just like you about personal insurance. This is
34:12
Speaker 3: why you should get it, and oh I've got it
34:14
Speaker 3: through Soper.
34:15
Speaker 2: And I'm like that's not enough.
34:15
Speaker 3: You need to do this datata, Like that's just my
34:18
Speaker 3: love language is talking to people about personal insurance.
34:21
Speaker 2: Well, your dad said that your love language was like
34:24
Speaker 2: caring about people, so this makes sense. And like finance
34:27
Speaker 2: is a way that you can create like as safety nets,
34:30
Speaker 2: so it just makes sense. I keep saying to my husband,
34:33
Speaker 2: I'm like, we should find a way to turn personal
34:35
Speaker 2: insurance into some kind of multi level marketing business because
34:39
Speaker 2: like we would have people talking about it night and day,
34:41
Speaker 2: like imagine.
34:43
Speaker 3: One hundred percent. Now it really is. My love language
34:45
Speaker 3: is talking about personal insurance more than anything. One hundred percent.
34:48
Speaker 2: I'm obsessed money doars. Tell me, what do you think
34:51
Speaker 2: is your best money habit?
34:53
Speaker 3: My best money habit is that I do not worry
34:55
Speaker 3: about money anymore the way that I used to do.
34:58
Speaker 3: I used to really just get nervous at the end
35:02
Speaker 3: of each fortnight waiting for pay to come in. And
35:05
Speaker 3: now I just feel with everything automated, with so much structure.
35:09
Speaker 3: In the last twelve months, I've been able to afford
35:11
Speaker 3: three holidays and I'm not blinking twice over it because
35:14
Speaker 3: I'm that structure. I know exactly what's coming in, exactly
35:17
Speaker 3: what's going out, what's you Everything's just automated.
35:21
Speaker 2: That's crazy, and like not in a bad way, Like
35:23
Speaker 2: that's crazy in like the best of ways. Money darist,
35:26
Speaker 2: what do you think your worst money habit?
35:28
Speaker 4: Is?
35:29
Speaker 3: My worst money habit is laughable. But I have just
35:34
Speaker 3: discovered Sheen. I know I'm a late bloomer, but I've
35:37
Speaker 3: just discovered Sheen. And I'll say in the last three months,
35:41
Speaker 3: actually probably more accurate would be in the last two months.
35:44
Speaker 3: I've made three substantial.
35:46
Speaker 2: Orders on Sheen. What are we buying on Sheen? Though?
35:49
Speaker 2: And also stop buying off Sheen You'll get canceled. You're
35:53
Speaker 2: lucky that this part's anonymous.
35:55
Speaker 3: Oh thank goodness, No, mostly just clothes. To be honest,
35:58
Speaker 3: I don't know who got me on to sh who
36:00
Speaker 3: I have to blame for that. That's definitely my worst
36:04
Speaker 3: money habit lately. But other than that, I think I'm
36:06
Speaker 3: pretty good.
36:08
Speaker 2: I just feel like that's not the worst money habit.
36:11
Speaker 2: That is fine. I'll let that one slip. Money Diarist.
36:13
Speaker 2: At the start of this episode, you said, I think
36:16
Speaker 2: I'm gonna bee because, like, everybody has stuff to learn,
36:18
Speaker 2: and I agree. I'm the type of person that just
36:21
Speaker 2: really loves continuous learning and like learning new things, and
36:24
Speaker 2: I'm really like adventurous and I'm going to be adventurous
36:27
Speaker 2: and flip this question because I think that you're going
36:30
Speaker 2: to say I'm still a Bee, Like I've done really well,
36:32
Speaker 2: but as I said, I've got stuff to learn. What
36:35
Speaker 2: do you think, baby, you would rate you if they
36:38
Speaker 2: were forced to give you a grade from A through death?
36:40
Speaker 3: Baby me would one hundred percent give me an A.
36:43
Speaker 3: But the only reason I've given myself a BEE is
36:46
Speaker 3: because as soon as I've ticked off the share portfolio,
36:49
Speaker 3: that'll be my A.
36:50
Speaker 2: Okay, And that's a really easy A. The appointments already booked,
36:53
Speaker 2: We're already doing it. I'm so excited, Like, my Queen,
36:56
Speaker 2: you and I are going to have to do another
36:58
Speaker 2: money diary at some point, because I just know you're
37:01
Speaker 2: going to be like, hey, they let's do another money diary.
37:03
Speaker 2: I've got five properties, and then I'll be like, okay,
37:05
Speaker 2: call me again and you'll be like, oh, yeah, I
37:07
Speaker 2: got ten. Like this is going to be crazy, and
37:09
Speaker 2: just I think the thing that I love about this is, yes,
37:13
Speaker 2: it wasn't the most conventional entry to property ownership, but
37:18
Speaker 2: what you're doing, you're doing on your own and you're
37:21
Speaker 2: on a really great salary, but you're still on a
37:23
Speaker 2: really normal salary, Like it's not unreasonable to expect that
37:28
Speaker 2: women who are in their early thirties can earn six figures.
37:31
Speaker 2: Like it's your budgeting, it's your cash flow, it's your habits,
37:34
Speaker 2: it's your mindset, it's all of that that's created the
37:37
Speaker 2: life that you have today. And just I am so
37:39
Speaker 2: freakin proud of where you've come from and where you're going,
37:42
Speaker 2: Like are you kidding me? Like, I'm just I'm so excited,
37:46
Speaker 2: and I'm also just so excited that I get to
37:47
Speaker 2: share this story with my community, because there are going
37:50
Speaker 2: to be people in this community that really resonate with going,
37:54
Speaker 2: oh my god, like I had a semi similar upbringing,
37:56
Speaker 2: or you know I had that much turmoil or you
37:58
Speaker 2: know it felt really bad. Is this something that still
38:02
Speaker 2: impacts you today? Like how does your upbringing still impact
38:07
Speaker 2: the decisions that you make around money on a daily basis?
38:10
Speaker 2: Or you like, no, I've moved on from that, or
38:12
Speaker 2: is that still something that like she's in the back
38:14
Speaker 2: of your mind and you can't seem to shake it, Like,
38:17
Speaker 2: and I feel like it might play into things like
38:19
Speaker 2: you wanting to pay off your first property in its
38:22
Speaker 2: entirety and owning it outright, so that level of financial
38:24
Speaker 2: security because like, on paper, an advice is going to
38:28
Speaker 2: tell you that's not the best idea, but in principle
38:31
Speaker 2: and emotionally, like you need that and that's what you know,
38:34
Speaker 2: good financial advice takes into consideration, Right, So what other
38:38
Speaker 2: things do you think at impacting you day to day
38:42
Speaker 2: that have come from your childhood?
38:44
Speaker 3: I think in my mind, I don't earn one hundred
38:47
Speaker 3: and eighteen a year. In my mind, I only own
38:50
Speaker 3: like fifty because that's as much as I give myself.
38:53
Speaker 3: I like to just really always prioritize my future self
38:57
Speaker 3: in that way. And I think if I pay them
38:59
Speaker 3: all off now, I can live mortgage free here for
39:02
Speaker 3: a couple of years before going back into another mortgage.
39:05
Speaker 3: But it does impact me, i'd say daily, in almost
39:09
Speaker 3: every transaction, in every interaction that I have, because I'm
39:13
Speaker 3: not just thinking about my younger self, but I'm also
39:16
Speaker 3: thinking about my future self. I'm not sort of over
39:19
Speaker 3: indulging in like nice dinners and things like that, not
39:22
Speaker 3: because I don't like them or appreciate them. It's that
39:26
Speaker 3: a part of me is like I value it, but
39:29
Speaker 3: I don't value it daily.
39:32
Speaker 2: No, that makes absolute sense, and I wanted to touch
39:35
Speaker 2: on that because I just think that people who are
39:38
Speaker 2: in those situations, it's like reflecting back on something you
39:42
Speaker 2: said at the start of this episode. You were like,
39:44
Speaker 2: when I was eighteen, I was just going to hit
39:46
Speaker 2: eighteen and everything would go away and I would be
39:48
Speaker 2: different and I would be at peace with it. And
39:50
Speaker 2: I think that it's something that you just learn to
39:52
Speaker 2: live with and learn to reflect on, and you become
39:55
Speaker 2: older and wiser, and that's great, but it's always going
39:58
Speaker 2: to impact you. And I think that it's important to
40:00
Speaker 2: point that out because there are so many young women
40:03
Speaker 2: who listen to this show who might be in similar situations,
40:06
Speaker 2: who might be, you know, baby, you at the start
40:08
Speaker 2: of your journey when you picked up the podcast for
40:10
Speaker 2: the first time, and they need to hear stories like
40:12
Speaker 2: this that are like, no, I did this myself and
40:14
Speaker 2: you can too. So if we, you know, leave on
40:18
Speaker 2: one note, what would be your advice to your past
40:22
Speaker 2: self if you were listening to this episode as the
40:24
Speaker 2: very first.
40:25
Speaker 3: One, start sooner?
40:27
Speaker 2: I love that go back in time.
40:31
Speaker 3: Oh, I don't know. I feel like it almost wouldn't
40:34
Speaker 3: have mattered. It wasn't about what was being shared. It
40:39
Speaker 3: wasn't about the content. It was the timing. And when
40:44
Speaker 3: you're ready for it, your body, your mind knows you're
40:47
Speaker 3: ready for it. Like even talking with friends that I
40:50
Speaker 3: have now that are like a year or two younger
40:53
Speaker 3: than me who don't own property, like I try to
40:56
Speaker 3: have the same conversation that Tash had with me and
40:59
Speaker 3: seat of give them that in empowerment and excitement that
41:04
Speaker 3: money can bring when you're in control of it, when
41:06
Speaker 3: it's not controlling you, and the choice that it gives
41:10
Speaker 3: you in the freedom to leave situations you want to,
41:12
Speaker 3: whether it's relationships or jobs, whatever, until you are ready
41:16
Speaker 3: for it. It actually doesn't matter, like it's got to
41:19
Speaker 3: be from within, Like you've got to want it that
41:22
Speaker 3: bad that you're willing to make all these changes.
41:24
Speaker 2: I'm obsessed, and I feel like that hits the nail
41:27
Speaker 2: on the head Money Diresty. It has been an absolute
41:29
Speaker 2: privilege sharing the last hour with you, having a good
41:32
Speaker 2: chat about absolutely everything from your upbringing to property to
41:37
Speaker 2: you know, just you hustling and killing it. I'm so
41:39
Speaker 2: obsessed and I just I'm so glad that we got
41:41
Speaker 2: to cross paths. So thank you for sharing your journey
41:44
Speaker 2: with the community.
41:45
Speaker 3: Thank you so much.
41:51
Speaker 4: The advice shared on She's on the Money is generally
41:54
Speaker 4: nature and does not consider your individual circumstances. She's on
41:58
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42:02
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42:06
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42:07
Speaker 4: Read the PDS TMD and obtain appropriate financial.
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