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She Maxed Out Her $10K Credit Card Partying... Now She Owns Two Properties · She's On The Money

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  Speaker 1: My name's Anatasha Bamblet. I'm a proud First Nations woman
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  Speaker 1: and I'm here to acknowledge country t Glenn Young Ganya Niana,
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  Speaker 1: kaka ya Ya bin Ahaka Nian our gay In Mbina,
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  Speaker 1: yakarum jar Dominyama, Domaga Itawakaman, damon Imlan Bomber bang Gadabomba
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  Speaker 1: in and now in wakah ghana On yakarram jar Watnadaa. Hello,
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  Speaker 1: beautiful friends, we gather on the lands of the Aboriginal people.
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  Speaker 1: We thank acknowledge and respect the Abiginal people's land that
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  Speaker 1: we're gathering on today. Take pleasure in all the land
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  Speaker 1: and respect all that you see. She's on the Money
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  Speaker 1: podcast acknowledges culture, country, community and connections, bringing you the tools,
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  Speaker 1: knowledge and resources for you to thrive.
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  Speaker 2: She's on the Money. She's on the Money.
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  Speaker 3: Hello, and welcome to She's on the Money, the podcast
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  Speaker 3: that lets you be pervy about other people's money stories
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  Speaker 3: for educational purposes, of course. Welcome back to another episode
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  Speaker 3: of our Beautiful Money Diaries show where we get a
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  Speaker 3: talk with one of our incredible She's on the Money
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  Speaker 3: community members all about their personal money story. So let's
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  Speaker 3: jump straight into it, because this week I got a
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  Speaker 3: message and it sounded exactly like this, dear, she's on
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  Speaker 3: the money. Five years ago, I was twenty nine, earning
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  Speaker 3: sixty thousand dollars a year with one thousand dollars in savings.
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  Speaker 3: I had twenty thousand dollars in hex and a maxed
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  Speaker 3: out credit card and barely fifty thousand dollars in super
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  Speaker 3: I loved my job in hospitality, but money felt like
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  Speaker 3: something I would never get ahead with. Then I was
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  Speaker 3: headhunted for a new role. I finally got a big
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  Speaker 3: pay rise, and it hit me that if I wanted
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  Speaker 3: my future to look different, I to change how I
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  Speaker 3: managed my money. Fast forward to now, and my life
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  Speaker 3: is unrecognizable. We've borderhouse invested, cleared our debts completely, and
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  Speaker 3: started building for our kids' future. More than that, I've
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  Speaker 3: gone from avoiding money conversations completely to actually loving them.
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  Speaker 3: Money diarist, I'm really excited because you're like, you've been
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  Speaker 3: in the position that so many people in our community
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  Speaker 3: are in right now, but then you've come out the
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  Speaker 3: other side and changed stuff, And I just I'm excited
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  Speaker 3: because I think that we're going to learn so much
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  Speaker 3: from you.
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  Speaker 2: Oh, thank you so much for having me. I'm very
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  Speaker 2: excited to talk about it now. If you'd ask me
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  Speaker 2: five years ago, no oh no, no no.
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  Speaker 3: It's funny how things changed, because when I got into debt,
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  Speaker 3: I was literally lying to people about not having debt
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  Speaker 3: because I was like, hmm, no, I don't know what
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  Speaker 3: you're talking about. How stupid? Why would you be in debt?
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  Speaker 3: And that was literally me. And now I'm literally like
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  Speaker 3: the post child for getting out of debt. So times
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  Speaker 3: can change, and you know what, I'm better for it.
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  Speaker 3: But before we get into a little bit more about
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  Speaker 3: your money story, I need to ask if I asked
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  Speaker 3: you to give your money habits a grade from A
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  Speaker 3: through to F, what do you reckon you would grade them?
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  Speaker 2: I am going to go with a B and we
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  Speaker 2: can obviously. I know you're going to ask me at
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  Speaker 2: the end of it if I change that, But for now,
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  Speaker 2: I'm going to go with a B. I like that.
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  Speaker 3: I feel like a B is a good place to start.
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  Speaker 3: I always get like super red flaggy when I get
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  Speaker 3: a really good submission and then they say like D
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  Speaker 3: or something, and I'm like, I don't know if I
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  Speaker 3: believe you already, Like I read your submission, I just
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  Speaker 3: read it to my community, and nobody's believing you tell
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  Speaker 3: me more. But b I can get around that. I
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  Speaker 3: can get around that. So let's learn more about it.
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  Speaker 3: Can you tell me a little bit more about your
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  Speaker 3: money story?
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  Speaker 2: Absolutely so, I think always. And what I love about
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  Speaker 2: this is where the money diarists share kind of like
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  Speaker 2: their upbringing, especially our age group, because it also is
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  Speaker 2: kind of fairly similar. So. I grew up on a
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  Speaker 2: farm in New South Wales and with two older sisters,
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  Speaker 2: and I got an incredible amount of work ethic from
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  Speaker 2: my parents and I still thank them both. So I
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  Speaker 2: had a full time working mum as a teacher and
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  Speaker 2: a full time working dad who had a job plus
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  Speaker 2: a farm.
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  Speaker 3: Well, your mum was working full time as well as
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  Speaker 3: doing farm stuff. Crazy.
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  Speaker 2: Yeah, So my parents had a full time working farm
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  Speaker 2: and they both worked like payg jobs at the same time.
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  Speaker 2: What the heck?
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  Speaker 3: Mom and dad? Where was your time? How did you
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  Speaker 3: manage to have three kids? A crazy cats?
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  Speaker 2: They definitely managed a lot, and to their credit, I
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  Speaker 2: guess you don't realize that as a child like that
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  Speaker 2: was just kind of normal. But yeah, no, my mom
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  Speaker 2: would take time off to have the three of us,
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  Speaker 2: but she would just take like one term off school
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  Speaker 2: and go back to work. And I didn't. I thought
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  Speaker 2: it's because she loved her job, which she did, but
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  Speaker 2: it was also financially necessary. They couldn't afford three kids
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  Speaker 2: and to not work both full time.
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  Speaker 3: Yeah, three kids in general is expensive then expensive, but
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  Speaker 3: even today I look at it and go, oh, my god, like,
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  Speaker 3: is that the new sign of wealth, like that people
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  Speaker 3: can have at least three kids? Like I just look
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  Speaker 3: at it and go, if you can have three kids,
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  Speaker 3: you must be financially pretty okay.
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  Speaker 2: Well, yeah, so my parents did very well in the
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  Speaker 2: sense that we were definitely middle class, had a farm.
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  Speaker 2: But I guess the biggest that I learned at an
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  Speaker 2: early ages I learned about the tax system, which is
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  Speaker 2: funny because I still had like zero financial literacy. I
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  Speaker 2: used to work for my dad on the farm. He
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  Speaker 2: desperately wanted a son. He didn't get it. He got
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  Speaker 2: three daughters, so as the youngest, I then worked on
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  Speaker 2: the farm, mustering sheep, driving the tractor, doing fencing, and
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  Speaker 2: he paid me two dollars an hour from the age
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  Speaker 2: of ten, and he told me that if I don't
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  Speaker 2: have a tax file number, He'll deduct forty eight cents
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  Speaker 2: of every dollar I earn. So I got a tax
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  Speaker 2: file number.
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  Speaker 3: I love your dad. Not only was he making you
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  Speaker 3: work for less than minimum wage, he was making you
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  Speaker 3: pay tax on that. No cashi's in this house. No,
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  Speaker 3: there was no cashes.
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  Speaker 2: And he's like, no, I'm going to put you on
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  Speaker 2: the books. I'm like, firstly, I'm not legal, so sure.
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  Speaker 2: But anyway, so I worked for him for two years
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  Speaker 2: and then actually got myself a real job.
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  Speaker 3: You were like, hold on two dollars an hours, actually
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  Speaker 3: not cutting it.
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  Speaker 2: So I actually went and got my first job at
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  Speaker 2: a local kind of hardware store and they actually took
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  Speaker 2: me on at twelve. Again illegal, but you know, country
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  Speaker 2: towns idnots into mind. Anyways, they still put me through
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  Speaker 2: the books and they're like, you'll need a tax file number.
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  Speaker 2: I was like, pro to go one ready, which they
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  Speaker 2: were shocked about. I just started working and then I
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  Speaker 2: just I understood the idea that you get a job
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  Speaker 2: and you earn money, and the more hours you work,
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  Speaker 2: the more money you make. And that was just what
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  Speaker 2: was ingrained. You work hard for your money. It wasn't
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  Speaker 2: about the hourly rate. It was about smart. It was
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  Speaker 2: just the volume sheer hours was kind of what was
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  Speaker 2: ingrained into me. So going through school, I worked two
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  Speaker 2: jobs as well as doing Year twelve, and I kind
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  Speaker 2: of got into hospitality. So I got a job in
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  Speaker 2: a cafe. As soon as I turned eighteen, I started
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  Speaker 2: working a bar. You know, I was getting twenty seven
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  Speaker 2: dollars an hour. It was incredible on a Sunday. And
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  Speaker 2: I then went to UNI. So my mum, in her
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  Speaker 2: loving way, had three daughters and told us that we
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  Speaker 2: were never allowed to stay. She met this with all love.
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  Speaker 2: We lived in a very small town. The closest UNI
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  Speaker 2: was three hours away. The idea was as she doesn't
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  Speaker 2: mind what we did with our life, but you cannot
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  Speaker 2: do it here.
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  Speaker 3: I love your mum.
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  Speaker 2: It was never an option to stay at home and work,
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  Speaker 2: you know, in town, or go to tay for whatever.
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  Speaker 2: She's like, you don't have to go to UNI. Her
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  Speaker 2: preference was that, but it was just if you want
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  Speaker 2: a gap year, that's fine, but you don't do it here.
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  Speaker 2: All three of us left and went to major cities
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  Speaker 2: and went to universities. I worked about thirty hours a
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  Speaker 2: week while studying full time. I rarely went to class.
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  Speaker 2: I failed multiple subjects because they were on a Thursday
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  Speaker 2: night and I was like, no, I'm going out. So
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  Speaker 2: it actually took me five years to do my three
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  Speaker 2: year business degree because I'd failed a few subjects. More so,
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  Speaker 2: I'd work two jobs and this is where I would
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  Speaker 2: work at night. So I would go and work in
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  Speaker 2: a restaurant till Saturday night. I would then catch the
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  Speaker 2: bus from the restaurant to go out into the valley
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  Speaker 2: in Brisbane from midnight till four am. Oh, classy lady,
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  Speaker 2: catch the bus home, and then start my second job
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  Speaker 2: at seven am, probably still drunk. I'm going to be honest,
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  Speaker 2: this was I just heard behind a coffee machine. At
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  Speaker 2: least I had coffee. The worst part was when you
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  Speaker 2: were hungover and going back to work in a bar
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  Speaker 2: and like someone's like an Izam Booker and you're like, ooh,
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  Speaker 2: I don't know if I can stomach smelling Zambooker Again.
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  Speaker 2: I did I drunk that last night. No matter how
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  Speaker 2: hungover or how drunk I might have still been, we
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  Speaker 2: turned up because we needed that money, oh one hundred percent.
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  Speaker 2: So I have definitely I think that's the series I
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  Speaker 2: had a lot of work ethic. I just had a
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  Speaker 2: real inability to save. But I think where my biggest
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  Speaker 2: thing was is then I got essentially full time hours
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  Speaker 2: working hospitality. So I worked out that I could apply
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  Speaker 2: for a credit card because I had pay slips to
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  Speaker 2: prove it perfect. So I got a credit card. You know,
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  Speaker 2: I had no idea what the interest was. I didn't
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  Speaker 2: know what miniroom or payments were. I just got given
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  Speaker 2: a bank account with a card attached to two thousand dollars.
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  Speaker 3: Yeah, but we don't do this, Like nobody goes into
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  Speaker 3: these situations with the intention to get into crippling debt.
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  Speaker 3: Like we go into these situations with not as much
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  Speaker 3: knowledge as we deserve, with the best of intentions. And
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  Speaker 3: I think that that's what we need to remember when
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  Speaker 3: people get into debt, because like then, yeah, there's all
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  Speaker 3: the shame and we're so embarrassed and we don't want
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  Speaker 3: to share it. And I've been there, and I'm sure
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  Speaker 3: you've been there as well, But like, sorry, I went
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  Speaker 3: into this with good intentions and now I've been screwed
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  Speaker 3: over by our system.
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  Speaker 2: And that's exactly I just went in with absolutely no understanding,
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  Speaker 2: Like my only knowledge of credit cards was my mum
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  Speaker 2: had one and she would put the groceries on it,
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  Speaker 2: but I never learned that she then paid that off
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  Speaker 2: with her say things like I never asked. We very
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  Speaker 2: much did not talk about money in our house. My
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  Speaker 2: parents used to fight about money, but we never talked
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  Speaker 2: about money. So our family did not have a good
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  Speaker 2: financial literacy, I would say, And that's not a fault
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  Speaker 2: of my parents. They did their absolute best with the
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  Speaker 2: knowledge and resources they had. But looking back now, I'm like, oh, like,
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  Speaker 2: we learned nothing other than just work hard. So I
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  Speaker 2: did that. So I got a credit card and essentially
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  Speaker 2: that next year I spent two thousand dollars maxed out
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  Speaker 2: my credit card on going to ten music festivals because
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  Speaker 2: I had FOMO. There was no way I was missing
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  Speaker 2: out on them ten.
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  Speaker 3: Get it, queen, I mean, I was really in a.
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  Speaker 2: Good and I didn't I wanted to go with my
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  Speaker 2: best friend who lived in Sydney. So I'm paying for
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  Speaker 2: flights from Brisbane to Sydney ten times a year, I'm
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  Speaker 2: going to music festivals, so and I didn't want to
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  Speaker 2: miss out, and so I was then also going out.
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  Speaker 2: I'm going to say four to five times a week.
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  Speaker 2: So while mine wasn't on clothes, mine was on going out,
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  Speaker 2: going to the next music festival, the next concert, whatever
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  Speaker 2: it was. I was so scared to miss out and not,
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  Speaker 2: I guess be the life of the part, which was
• 10:00
  Speaker 2: certainly my personality.
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  Speaker 3: I'm honestly impressed. Like, don't get me wrong. I would
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  Speaker 3: go out on a Saturday night, maybe even back it
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  Speaker 3: up and do a Friday and a Saturday night, but
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  Speaker 3: like I could not back it up the way that
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  Speaker 3: you did, Like you deserve an award.
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  Speaker 2: Yeah, I know, I was. Tuesday night was UNI night,
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  Speaker 2: Thursday night was City night with UNI discounts. Friday night
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  Speaker 2: was like going out on fancy night out with like
• 10:19
  Speaker 2: the law students going out on a Friday, and then
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  Speaker 2: Saturday was going to the valley. Sunday is Hospo night.
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  Speaker 3: Yeah, okay, okay, I can't keep up.
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  Speaker 2: I know the fact that I still remember this is
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  Speaker 2: also alarming that I had a great time.
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  Speaker 3: I didn't think it's alarming as making for great chat.
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  Speaker 2: I remember it like it was yesterday, and honestly I
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  Speaker 2: would I trade it. No. I loved it, and I
• 10:40
  Speaker 2: loved going out, and it was it was my favorite activity,
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  Speaker 2: for sure. It's just it came with expenses of going out, alcohol,
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  Speaker 2: cover charge, TAXI rides home.
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  Speaker 3: Oh yeah, the cover charge. But back in those days,
• 10:52
  Speaker 3: I'm sorry, vodka red Bull was five dollars. So it was,
• 10:55
  Speaker 3: but those added up really quickly.
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  Speaker 2: And I was actually really lucky as well, because then
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  Speaker 2: I ended up finding a job that also fueled this habit.
• 11:01
  Speaker 2: So in Uni, I actually was really fortunate to work
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  Speaker 2: for Red Bull. No, I was not a wings girl.
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  Speaker 2: I'm going to put that out there. I was not
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  Speaker 2: pretty enough to be a wings girl. You look like
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  Speaker 2: you could be wings girl.
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  Speaker 3: I'm not gonna lie. I mean, I think you're being
• 11:12
  Speaker 3: a bit self deprecating, because like that's not true.
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  Speaker 2: We had So it was a really cool job with
• 11:17
  Speaker 2: Red Bull where they paid you if you lived at college,
• 11:19
  Speaker 2: to be a student brand manager. And I was part
• 11:21
  Speaker 2: of their marketing employ And so you essentially get paid
• 11:24
  Speaker 2: to go to college events or organize a college event
• 11:27
  Speaker 2: and take red Bull. Now that was both alcohol related
• 11:30
  Speaker 2: and not so like swatvack or study week.
• 11:31
  Speaker 3: I was about to say, you would thinking deal steel steals.
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  Speaker 2: So I had a red Bull fridge in my room.
• 11:37
  Speaker 2: I had an unlimited supply of free red Bull. So
• 11:40
  Speaker 2: everyone wanted to be my friend.
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  Speaker 3: You were willing and dealing. I was.
• 11:45
  Speaker 2: I loved it, and I got paid to go out.
• 11:47
  Speaker 2: So a really fun part of the job was if
• 11:49
  Speaker 2: you would one of the managers, like the on premise managers,
• 11:52
  Speaker 2: would call you and say, Hey, the Victory Hotel is
• 11:54
  Speaker 2: only stocking v and not red Bull. Can you go in?
• 11:57
  Speaker 2: What that meant is you got paid to go out
• 11:59
  Speaker 2: that night, Go to the order a vodka red Bull,
• 12:01
  Speaker 2: wait till they pour the vodgrin V and then you
• 12:03
  Speaker 2: would say to them, no, I asked for red Bull.
• 12:06
  Speaker 2: Oh you don't stop red Bull? No, thank you, and
• 12:08
  Speaker 2: you would do it all night, and so eventually their
• 12:11
  Speaker 2: tactic is is that then the next day the bar
• 12:14
  Speaker 2: managers like, oh, why are we're not stocking red Bull?
• 12:17
  Speaker 2: People keep asking for red Bull, like we need to
• 12:19
  Speaker 2: get it, And then coincidentally, the on premise manager would
• 12:21
  Speaker 2: call them the next day and'd be like, hey, are
• 12:23
  Speaker 2: you ready to stock us yet?
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  Speaker 3: That's crazy, that's actually crazy manipulative. I love it and
• 12:27
  Speaker 3: I hate it.
• 12:28
  Speaker 2: Yeah, I mean this was yet two thousand and seven.
• 12:31
  Speaker 2: This was an amazing thing, and I didn't know what
• 12:33
  Speaker 2: I was learning at this point in time. But like
• 12:35
  Speaker 2: incredible sales and marketing technique from red Bull to pay
• 12:39
  Speaker 2: nineteen year olds to go out and.
• 12:41
  Speaker 3: Do this low key genius, also terrifying, Like.
• 12:44
  Speaker 2: Yeah, this was pre social media. This was pre everyone
• 12:47
  Speaker 2: being able to go out and kind of see what
• 12:49
  Speaker 2: you were drinking. This was just you went out and
• 12:50
  Speaker 2: you asked for things, and I guess it's the same
• 12:52
  Speaker 2: as asking for vodka coca and they give you pepsi
• 12:54
  Speaker 2: and you're like, no, thank you.
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  Speaker 3: So you were making all this money, You're working two jobs,
• 12:57
  Speaker 3: you are a Red Bull fan girl. How much debt
• 13:00
  Speaker 3: did you end up racking up when you were a teenager?
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  Speaker 2: Basically, I at this point was about in ten thousand
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  Speaker 2: dollars worth of credit card debt. I still owed twenty
• 13:10
  Speaker 2: thousand dollars on my car because I'd actually had a
• 13:13
  Speaker 2: cheaper car loan and then unfortunately had a car accident,
• 13:15
  Speaker 2: as you do when you're nineteen and you run at
• 13:17
  Speaker 2: the back of someone, So I had to sell that
• 13:20
  Speaker 2: one obviously went to the wreckers, and I had to
• 13:22
  Speaker 2: get a new car because I needed to get around.
• 13:24
  Speaker 2: So yeah, at the end of UNI, I graduated at
• 13:25
  Speaker 2: twenty three and I was about ten thousand dollars in
• 13:27
  Speaker 2: credit card debt, twenty grand's worth of car debt. And
• 13:31
  Speaker 2: because it took me five years to do a three
• 13:33
  Speaker 2: year degree and I did accounting three times, I had
• 13:38
  Speaker 2: forty thousand dollars in hex and.
• 13:40
  Speaker 3: Your insurance must have been more expensive too, because you
• 13:42
  Speaker 3: run up the back of somebody. It was yep, yeah, cool,
• 13:45
  Speaker 3: that's so sexy.
• 13:46
  Speaker 2: I love this for uning great place. Oh do you
• 13:49
  Speaker 2: know what?
• 13:50
  Speaker 3: And it's crazy because you just think that's normal, and
• 13:52
  Speaker 3: it is for so many of us. Like I graduated
• 13:55
  Speaker 3: Nied with no debt, money win. But it was in
• 13:57
  Speaker 3: the first two years of me working professionally and corporately
• 14:02
  Speaker 3: that I got into forty thousand dollars of like personal
• 14:06
  Speaker 3: debt with a really high interest rate. Like you look
• 14:09
  Speaker 3: at it and go, how.
• 14:10
  Speaker 2: Did you do that?
• 14:11
  Speaker 1: For?
• 14:11
  Speaker 3: It was easy? Let me show you.
• 14:13
  Speaker 2: Take me to Veronica, Maine. But honestly, when I listened
• 14:15
  Speaker 2: to this story about you, that's what I was like,
• 14:17
  Speaker 2: this is actually relatable because I was like, I get it.
• 14:19
  Speaker 2: I remember getting my first job and being like I'm
• 14:21
  Speaker 2: going to go to Sarba, I'm going to go to
• 14:22
  Speaker 2: Veronica Main and this.
• 14:23
  Speaker 3: Was the thing.
• 14:24
  Speaker 2: I think you convinced it because obviously in your job,
• 14:25
  Speaker 2: the same as I convinced myself like, yes, I was
• 14:27
  Speaker 2: going out and I was spending a lot of my
• 14:29
  Speaker 2: only on music festivals. In my mind because I was
• 14:31
  Speaker 2: studying business and events and hotels, this was the world
• 14:34
  Speaker 2: I wanted to work in. So to me, I was like,
• 14:37
  Speaker 2: this is networking, this is a business expense. I need
• 14:40
  Speaker 2: to do this to get my name out there. And
• 14:42
  Speaker 2: that's actually how I got my Red Bull job. They
• 14:44
  Speaker 2: literally found me on Facebook on a laptop pre mobile
• 14:47
  Speaker 2: phones and were like, you go out and party a lot.
• 14:49
  Speaker 2: We're going to pay you to do that.
• 14:50
  Speaker 3: Okay, say less, yeah, exactly.
• 14:53
  Speaker 2: Again that field, and I'm not trying to make excuses,
• 14:55
  Speaker 2: but again, when you say it out loud to someone
• 14:57
  Speaker 2: and say, why on earth would you go to ten
• 14:58
  Speaker 2: music festivals, that's ridiculous. No, no, no, no.
• 15:01
  Speaker 3: We don't judge past us. We also don't judge other
• 15:04
  Speaker 3: people for the money decisions they've made. I think it's
• 15:07
  Speaker 3: just it's so validating when you have these conversations and
• 15:10
  Speaker 3: go okay, cool, like obviously those are not great situations.
• 15:13
  Speaker 3: We didn't want to be in like, how good we
• 15:15
  Speaker 3: could get out of them, How good we can have
• 15:17
  Speaker 3: these open, honest conversations, because I can always guarantee if
• 15:20
  Speaker 3: I went back to baby you you just graduated and
• 15:22
  Speaker 3: had thirty grand worth of debt, Hey talk to me
• 15:24
  Speaker 3: about debt, You'd be like, oh, can you not be
• 15:26
  Speaker 3: so invasive? Like we would not want to have that conversation.
• 15:29
  Speaker 3: All right, let's go to a really quick break. Don't
• 15:31
  Speaker 3: go anywhere, all right, money drives. We are back. So
• 15:38
  Speaker 3: you graduate? What did you do for work?
• 15:40
  Speaker 2: So? I got my first job then graduating UNI as
• 15:42
  Speaker 2: a wedding coordinator in a beautiful building in Brisbane. This
• 15:46
  Speaker 2: paid forty eight thousand dollars a year, So I at
• 15:50
  Speaker 2: that point graduated and did not earn over the threshold
• 15:53
  Speaker 2: currently to pay off my hecks.
• 15:55
  Speaker 3: Perfect. That's actually a good position to be in. But
• 15:58
  Speaker 3: I'm pretty sure you're about to tell me that you
• 16:00
  Speaker 3: also weren't making extra debt repayments, so tell me more.
• 16:03
  Speaker 2: No, so I'm paying off the minimum. So at this
• 16:05
  Speaker 2: point I'm kind of going twenty two to twenty three,
• 16:07
  Speaker 2: twenty four having a great time, and it was really
• 16:10
  Speaker 2: I guess the window for me was then I got
• 16:12
  Speaker 2: a new job and actually moved in with my boyfriend
• 16:15
  Speaker 2: who's now my husband, but moved in with my boyfriend
• 16:17
  Speaker 2: at the time at twenty five, and we got a
• 16:19
  Speaker 2: shared house account, which was really great so we could
• 16:22
  Speaker 2: work out, you know, who pays for groceries and things
• 16:24
  Speaker 2: like that. And I kept putting things on my credit
• 16:26
  Speaker 2: card and he was like, why do you have a
• 16:27
  Speaker 2: credit card? And I was like, I don't know, because
• 16:30
  Speaker 2: that's just what you do. And he's like, well, what's
• 16:31
  Speaker 2: the interest?
• 16:32
  Speaker 3: And I was like, why are you asking go away,
• 16:34
  Speaker 3: go away, We don't talk about money, il David dah Yeah,
• 16:37
  Speaker 3: And he was like, well that's you.
• 16:38
  Speaker 2: Do know that you pay like twenty percent interest on that,
• 16:41
  Speaker 2: like and what the mineral repayment. So it wasn't actually
• 16:44
  Speaker 2: until he'd sat me down and explained this to me,
• 16:46
  Speaker 2: and it felt like a personal attack. But then actually
• 16:48
  Speaker 2: a couple of days later, I was like, oh, actually
• 16:51
  Speaker 2: this could be quite helpful. I don't know this much.
• 16:53
  Speaker 2: And it was really funny because he said to me,
• 16:54
  Speaker 2: He's like, oh, I just assumed you'd be good with money.
• 16:56
  Speaker 2: You did a business degree, you talk about your dad
• 16:58
  Speaker 2: got you a tax file, number at ten, and I
• 16:59
  Speaker 2: was like, oh, no, don't be illusioned. I did a
• 17:02
  Speaker 2: business degree, but I have zero financial literature.
• 17:04
  Speaker 3: Yeah, actually the plumbert always has a leaky tap, so
• 17:07
  Speaker 3: don't judge me.
• 17:08
  Speaker 2: Correct. And so there was just a lot of assumptions,
• 17:10
  Speaker 2: and maybe I made the same assumptions that I should
• 17:12
  Speaker 2: be better with money, But that kind of was the
• 17:15
  Speaker 2: window for me of like, actually I had to be
• 17:17
  Speaker 2: transparent with my finances with him, and that kind of
• 17:19
  Speaker 2: really showed me that. I was like, oh, now that
• 17:22
  Speaker 2: you can see where the spending is going, not on
• 17:24
  Speaker 2: my credit card, but that actually, like our shared account
• 17:27
  Speaker 2: made me really accountable, which actually was good and was
• 17:29
  Speaker 2: the best thing for me. Not that he cured my spendings.
• 17:32
  Speaker 2: It wasn't like, oh, you can't spend this. It was
• 17:34
  Speaker 2: just I was like, oh, he can see on the
• 17:36
  Speaker 2: app what we're spending, so I'm going to be more
• 17:38
  Speaker 2: mindful of it. So I closed my credit card and
• 17:41
  Speaker 2: just started paying as much as I could off it
• 17:44
  Speaker 2: as well, because our shared living expenses then made it
• 17:46
  Speaker 2: cheaper obviously when you're sharing with someone else, So I
• 17:48
  Speaker 2: paid that off. So I was really lucky. By twenty seven,
• 17:50
  Speaker 2: I paid off my credit card. I paid off my
• 17:53
  Speaker 2: car loan at this point in time.
• 17:55
  Speaker 3: Oh, very cool.
• 17:56
  Speaker 2: Yeah, And that was just because it was kind of
• 17:57
  Speaker 2: ending on the contract and my first thought was I'm
• 18:00
  Speaker 2: going to go get a new car because my Carloon
• 18:02
  Speaker 2: is finished. And he was like absolutely not, No, you're
• 18:04
  Speaker 2: not doing that. And I was like, oh, He's like,
• 18:06
  Speaker 2: just drive the same one. It's fine. I was like,
• 18:08
  Speaker 2: you're right, I actually don't care about new cars, and
• 18:11
  Speaker 2: I don't. So again, it was good to have someone
• 18:14
  Speaker 2: kind of point that out and not in a bad way,
• 18:16
  Speaker 2: but yeah, it was just like, do you actually need
• 18:19
  Speaker 2: a new car? Oh? I don't you ride? Actually, So
• 18:22
  Speaker 2: that was a really good window for me. But I
• 18:24
  Speaker 2: guess at this point then we hit a point in
• 18:26
  Speaker 2: our life together where we really wanted to do some
• 18:28
  Speaker 2: traveling together, to work a lot and travel. So we
• 18:31
  Speaker 2: spent the next few years going on some wonderful holidays,
• 18:33
  Speaker 2: which was wonderful. We did Africa, Asia, Europe, the States,
• 18:38
  Speaker 2: the Maldives, Tahiti.
• 18:40
  Speaker 3: Oh you went, ham, Yeah, I know, but you know
• 18:43
  Speaker 3: when you justify like.
• 18:43
  Speaker 2: I'm turning thirty, I'm going to the mal Dives And
• 18:45
  Speaker 2: then he's like, well, I'm turning thirty. I'm like, okay,
• 18:47
  Speaker 2: well let's go to Bora Bora.
• 18:52
  Speaker 3: Yes, okay, carry on. So this is I was about
• 18:54
  Speaker 3: to come back and be like, hold on. So you
• 18:55
  Speaker 3: were completely depth three at twenty seven, and then at
• 18:57
  Speaker 3: twenty nine you had a maxed out credit card, like,
• 19:00
  Speaker 3: tell me what happened? Travel had travel happened?
• 19:02
  Speaker 2: So that's where I was really really good. And then
• 19:05
  Speaker 2: at this window in our relationship, he actually earned about
• 19:09
  Speaker 2: thirty thousand dollars a year more than me, which is
• 19:10
  Speaker 2: not that significant. But again, I was trying to keep
• 19:13
  Speaker 2: up with paying everything fifty to fifty because I'm a
• 19:16
  Speaker 2: staunchly independent woman who will move furniture on my own.
• 19:19
  Speaker 2: I will carry the groceries on my own.
• 19:21
  Speaker 3: Your mum did not raise people who stayed at home.
• 19:23
  Speaker 2: Yes, So we would go on these beautiful holidays, and
• 19:25
  Speaker 2: we'd spend ten thousand dollars in a week of holidays.
• 19:28
  Speaker 2: So he paid five thousand, I paid five thousands. I
• 19:30
  Speaker 2: didn't have five thousand to be doing this, so I
• 19:34
  Speaker 2: would put it on my credit card. He would give
• 19:36
  Speaker 2: me the five grand for his away. We went so inevitably,
• 19:39
  Speaker 2: I just the lifestyle creep of holidays and I wanted
• 19:42
  Speaker 2: to go and I didn't want to miss out on
• 19:44
  Speaker 2: doing those things. So inevitably I was just getting further
• 19:47
  Speaker 2: behind again with debt to go on holidays. I guess
• 19:51
  Speaker 2: the next turning point for us was I was really
• 19:53
  Speaker 2: fortunate and offered a role not my current one, but
• 19:55
  Speaker 2: I took a different role within the same company and
• 19:57
  Speaker 2: was actually appointed as a GM and moved to a
• 19:59
  Speaker 2: home hotel that had onsite accommodation. My husband could actually
• 20:03
  Speaker 2: get a transfer and he actually got paid a higher
• 20:06
  Speaker 2: incentive because it was rule. So we went to a
• 20:07
  Speaker 2: remote area in Queensland to work at a hotel. We
• 20:11
  Speaker 2: had zero expenses other than our own food, oh money,
• 20:14
  Speaker 2: win yees. So that was really really good and we
• 20:16
  Speaker 2: actually did it for my career. We didn't really think
• 20:18
  Speaker 2: about the cost saving at this point in time. We
• 20:19
  Speaker 2: just did it of like, this will be great for
• 20:21
  Speaker 2: my career. You go and kind of do a couple
• 20:22
  Speaker 2: of years out here and then.
• 20:23
  Speaker 3: You can pick where you want to go go anywhere
• 20:26
  Speaker 3: from there, especially because you have always I'm picking up
• 20:29
  Speaker 3: that you've always just wanted to be in that industry,
• 20:31
  Speaker 3: so you're kind of like I'm committed to this.
• 20:32
  Speaker 2: I'm committed. I you know, at this point, I'm like, no,
• 20:35
  Speaker 2: I want to be a young female GM. I want
• 20:37
  Speaker 2: to prove that I can. I can do this. So
• 20:39
  Speaker 2: we did so really gratefully. I guess my husband at
• 20:42
  Speaker 2: this point was on one hundred thousand dollars a year
• 20:44
  Speaker 2: with zero outgoings other than one hundred dollars a week
• 20:47
  Speaker 2: in food.
• 20:48
  Speaker 3: Oh my god, that's literally the savings dream. So did
• 20:51
  Speaker 3: you guys make the most of that? What happened?
• 20:54
  Speaker 2: He made the most of it?
• 20:55
  Speaker 3: Yes, iconic from him. But also if you could have
• 20:58
  Speaker 3: just taken me on that journey, so that would have
• 21:00
  Speaker 3: been appreciated.
• 21:02
  Speaker 2: So again, I didn't earn as much as he did.
• 21:04
  Speaker 2: Hospitality is not fantastic with their wages. It's wonderful and
• 21:07
  Speaker 2: you get so much more out of it. You get
• 21:09
  Speaker 2: lovely holidays because you can kind of contra. But it
• 21:12
  Speaker 2: still is not a high paying job. So I'm on
• 21:14
  Speaker 2: about seventy thousand dollars a year, which was still not bad,
• 21:17
  Speaker 2: and he's on one hundred thousand dollars with no outgoings.
• 21:20
  Speaker 2: So we're still doing really well. But again, because we
• 21:22
  Speaker 2: chose to live remotely, we treated ourselves to again more holidays.
• 21:26
  Speaker 2: Yeah okay, yeah, and that kind of offset the hours
• 21:28
  Speaker 2: and what I was working. So at this point, I'm
• 21:30
  Speaker 2: working sixty hours a week, living on site, giving everything
• 21:34
  Speaker 2: I could to this role. Unfortunately, in twenty nineteen, I
• 21:37
  Speaker 2: was thirty one, and not that the age matters, but
• 21:40
  Speaker 2: I got sat down and had a conversation about how
• 21:43
  Speaker 2: a thirty one year old female will probably want children
• 21:45
  Speaker 2: one day and that this role is not suitable excuse me,
• 21:49
  Speaker 2: and it crushed my soul. Like I worked for this
• 21:54
  Speaker 2: company for six years, and my entire identity was this
• 21:59
  Speaker 2: business and this company, Oh my god, the tea.
• 22:04
  Speaker 3: After this, I'm getting the name of this company, I
• 22:07
  Speaker 3: am snooping.
• 22:08
  Speaker 2: And it was really hard because, like I like I
• 22:10
  Speaker 2: understood because they thought from an operational point of view,
• 22:13
  Speaker 2: like living on site, potentially having children. But you know,
• 22:16
  Speaker 2: I told myself, okay.
• 22:17
  Speaker 3: Sorry you no, no, no, no no no. Do you
• 22:19
  Speaker 3: know what I would have in that instance? Do you
• 22:21
  Speaker 3: know what we're doing? We're lying? Oh, thanks so much
• 22:23
  Speaker 3: for bringing that up. So awkward. I'm actually infertile and
• 22:27
  Speaker 3: I don't want to have children.
• 22:29
  Speaker 2: And look, I've thought about this so many times, like
• 22:31
  Speaker 2: it's I've repeated in my head this entire conversation of
• 22:35
  Speaker 2: what I should have done.
• 22:36
  Speaker 3: Oh yeah, and like everything's better in retrospect, right, Like, oh,
• 22:39
  Speaker 3: the things I would say to the amount of people
• 22:41
  Speaker 3: who have been rude to me. I've got great clapbacks,
• 22:44
  Speaker 3: I just don't have them when I need them.
• 22:45
  Speaker 2: That's exactly right. I was just I was shocked. I
• 22:48
  Speaker 2: honestly thought I was going in to have a meeting
• 22:49
  Speaker 2: with them to talk to me about career progression and
• 22:52
  Speaker 2: essentially that they had found a new replacement for my role,
• 22:56
  Speaker 2: which they legally could do. Look, there was a lot
• 22:58
  Speaker 2: of questions about whether I could have fought them for this.
• 23:01
  Speaker 2: I didn't have the resources to fight this company this size.
• 23:04
  Speaker 2: You know, they had hired other people before as like
• 23:07
  Speaker 2: roving roles, so it was legal, just very questionable anyway,
• 23:12
  Speaker 2: So I was told that I needed to find myself
• 23:14
  Speaker 2: a new role somewhere within the company if I wanted to,
• 23:17
  Speaker 2: but just not at that level. So I kind of
• 23:21
  Speaker 2: bided my time. I took a project's role at this point,
• 23:24
  Speaker 2: and the irony of all of this when they actually
• 23:26
  Speaker 2: told me this in a meeting, which obviously they would
• 23:28
  Speaker 2: never say outlie that they said I was actually eight
• 23:31
  Speaker 2: weeks pregnant, but I didn't know yet.
• 23:33
  Speaker 3: Oh my god, I have thoughts and feelings, but this
• 23:37
  Speaker 3: is your story. So to what happened next, I'm.
• 23:39
  Speaker 2: Sure similar to every other female, I ended up having
• 23:42
  Speaker 2: a non viable pregnancy.
• 23:43
  Speaker 3: No, no, no, no, that don't justify. That's shit.
• 23:48
  Speaker 2: Yep. So I centally've been moved out of my role
• 23:50
  Speaker 2: that I feel like I'd given everything to It was
• 23:52
  Speaker 2: my identity. I just had a miscarriage. I needed to
• 23:55
  Speaker 2: travel because I was remote. I had to go two
• 23:57
  Speaker 2: hours to the closest hospital to have a DNC, you know,
• 24:01
  Speaker 2: trying to explain where I was like, it was just
• 24:03
  Speaker 2: it was a lot, and my husband and I were
• 24:05
  Speaker 2: not in a great place because he's like, you need
• 24:06
  Speaker 2: to fight this. They can't do that, and I just couldn't.
• 24:09
  Speaker 3: I just sorry, Like going through a miscarriage is one thing.
• 24:12
  Speaker 3: I do not have the energy to fight. You, Like,
• 24:14
  Speaker 3: I'm not fighting anybody. We're not like, we're not, we're not.
• 24:17
  Speaker 3: I'm busy. I'm out of office.
• 24:19
  Speaker 2: Yeah, So it was this horrendous time at this point
• 24:22
  Speaker 2: in time. So but I, like I said, then randomly
• 24:25
  Speaker 2: got a call. I was actually on my way back
• 24:27
  Speaker 2: from the hospital in the car and I kept getting
• 24:29
  Speaker 2: this random phone number. I was like, oh, wait, go away.
• 24:31
  Speaker 2: Two days later, I finally answered this phone call and
• 24:33
  Speaker 2: it's a lovely gentleman who called me to say I
• 24:35
  Speaker 2: own a venue on the Sunshine Coast and I really
• 24:37
  Speaker 2: want you as my GM. And I just just I
• 24:41
  Speaker 2: almost cried. I laughed. I didn't. I didn't know what
• 24:44
  Speaker 2: had happened. And I said, how did you find me?
• 24:46
  Speaker 2: And he goes, oh, I've asked around and they've said that,
• 24:48
  Speaker 2: you know, you work in this industry. You're very good
• 24:51
  Speaker 2: at weddings. It's your niche to Are you open to
• 24:54
  Speaker 2: a conversation.
• 24:55
  Speaker 3: Yes, I'm so open to the conversation. Let's talk, I.
• 24:58
  Speaker 2: Know, but actually you'll be I don't know if I'm
• 25:00
  Speaker 2: still proud of this because it worked out or it
• 25:02
  Speaker 2: was probably the dumbest thing I've ever done. I had
• 25:04
  Speaker 2: a conversation with him and I was so blunt and
• 25:08
  Speaker 2: I actually said, what is your stance on female general
• 25:11
  Speaker 2: managers who wish to have a family, What does your
• 25:13
  Speaker 2: maternity leave options? What are you paying and what do
• 25:16
  Speaker 2: you expect from me? And what is the worst day
• 25:18
  Speaker 2: I can have in this role, and he like it
• 25:22
  Speaker 2: took him a minute, and you know his middle aged
• 25:25
  Speaker 2: has no children, never been married. So I was like,
• 25:27
  Speaker 2: I don't know you, and I'm not going to come
• 25:30
  Speaker 2: work for you if I don't know your value. Straight
• 25:31
  Speaker 2: off to that hope fair Now they're probably obviously could
• 25:34
  Speaker 2: have ended well because he was like, maybe I don't
• 25:35
  Speaker 2: want to give you the job. You seem a little crazy,
• 25:37
  Speaker 2: which was fair, but he answered all of it, and
• 25:40
  Speaker 2: I negotiated a forty thousand dollars pay increase to what
• 25:43
  Speaker 2: I was earning. Get a queen.
• 25:46
  Speaker 3: See what is meant for you? Is not going to
• 25:48
  Speaker 3: miss you.
• 25:48
  Speaker 2: Literally sad belittled me, who had crushed her soul, was
• 25:53
  Speaker 2: just then mad.
• 25:53
  Speaker 3: I was all mad, and yes, yes, we work on Spie.
• 25:58
  Speaker 2: Yes, so I actually and then he's like, well you're
• 26:00
  Speaker 2: relocating because I said, well, look I'm living in regional Queensland.
• 26:03
  Speaker 2: I'm going to take me a while to get there.
• 26:04
  Speaker 2: He's like, how much will it cost me to get
• 26:07
  Speaker 2: you here in two weeks? So I picked a number
• 26:11
  Speaker 2: out of the sky. So I ended up being off
• 26:13
  Speaker 2: at a salary at one hundred and twenty thousand dollars
• 26:15
  Speaker 2: plus a forty thousand dollars relocation.
• 26:17
  Speaker 3: Forty thousand dollars to relocate.
• 26:19
  Speaker 2: Yeah, I don't think offts about five hundred dollars.
• 26:20
  Speaker 3: But that's not the point. That is not the point.
• 26:24
  Speaker 3: Oh my god, you're an icon.
• 26:27
  Speaker 2: Because I've actually worked out that what I didn't need
• 26:29
  Speaker 2: for relocation is I guess I knew I was going
• 26:31
  Speaker 2: to try and have a family, and I knew that
• 26:32
  Speaker 2: he wouldn't pay maternity leave. That's fine, it's so small business.
• 26:35
  Speaker 2: I respect that. But I was like, well, if I
• 26:37
  Speaker 2: can get a good signing bonus, I can put that
• 26:39
  Speaker 2: aside and that can kind of cover if and when
• 26:41
  Speaker 2: I have children. But he didn't know that it wasn't
• 26:43
  Speaker 2: costing you that much money.
• 26:44
  Speaker 3: It's not his business. Sorry, that was my rate. You
• 26:47
  Speaker 3: actually don't have to pay it, Like, you don't have
• 26:48
  Speaker 3: to hire me. That's fine. These are just my rates
• 26:50
  Speaker 3: if you want me, And he did and he did so.
• 26:54
  Speaker 2: Two weeks later, we packed up our life and we moved,
• 26:56
  Speaker 2: and we were really lucky because we did come back
• 26:58
  Speaker 2: to the Sunshine Coast, which we actually have family.
• 27:00
  Speaker 3: Stop it that I was like, this is getting worse.
• 27:03
  Speaker 3: This is getting worse. This is not good. And then
• 27:05
  Speaker 3: like you pulled the rabbit out of the hat and
• 27:07
  Speaker 3: I was like, oh my god, get an icon and
• 27:09
  Speaker 3: nothing feels a woman like spiked. No it doesn't, but
• 27:13
  Speaker 3: I think the kicker for funny of going. And then
• 27:15
  Speaker 3: we moved to the coast and I've literally taken on
• 27:17
  Speaker 3: a brand new role. I've committed myself. You know, I've
• 27:19
  Speaker 3: said I'm worth this much money. You got pregnant, didn't you?
• 27:22
  Speaker 2: No, six weeks later COVID happened.
• 27:24
  Speaker 3: Oh, pregnant. I would have been like good, Like in
• 27:28
  Speaker 3: my head, I'm just like good, the more babies the better, Like, yeah, no,
• 27:32
  Speaker 3: pregnant probably would have been easier than COVID. Actually, no,
• 27:37
  Speaker 3: you know what, I would take pregnant over COVID. And
• 27:39
  Speaker 3: do you know what, I hate being pregnant.
• 27:41
  Speaker 2: I know. Actually that's a tough call. I also hated
• 27:43
  Speaker 2: being pregnant. So COVID hit. What happened. The venue that
• 27:46
  Speaker 2: I worked for specifically is weddings and events, does have
• 27:48
  Speaker 2: onsie accommodation and kind of things, but for the most part,
• 27:50
  Speaker 2: we essentially then had six months we were closed. Now
• 27:54
  Speaker 2: very grateful we were in Queensland obviously compared to Victoria.
• 27:57
  Speaker 2: But it was actually a really good test because I
• 28:00
  Speaker 2: didn't know this person that I was working for. I
• 28:01
  Speaker 2: didn't know his values, what was going to happen. And
• 28:04
  Speaker 2: he was like, absolutely not, we need our team, this
• 28:07
  Speaker 2: will lift I don't know how long he probably was
• 28:10
  Speaker 2: a little preemptive of he thought this would only be
• 28:12
  Speaker 2: a few weeks, and he still paid us all in full,
• 28:16
  Speaker 2: irrespective of job keeper, and I think for that, I
• 28:20
  Speaker 2: was just like, oh, you're actually a really good person.
• 28:23
  Speaker 2: And the previous company that I'd worked for, they would
• 28:25
  Speaker 2: never know they made about one hundred redundancies. They literally
• 28:29
  Speaker 2: cleaned fifty percent of their team.
• 28:30
  Speaker 3: So you know, when you just go I dodged a bullet.
• 28:33
  Speaker 2: Yes, absolutely, And I mean you always say that you
• 28:35
  Speaker 2: just never know it at the time.
• 28:37
  Speaker 3: No, no, no, you never know it at the time.
• 28:39
  Speaker 3: And that's like it's the worst part about it, right,
• 28:41
  Speaker 3: And that's why I'm always like saying things like, look,
• 28:43
  Speaker 3: what is meant for you is never going to miss you,
• 28:45
  Speaker 3: because those are the things that you need to remember
• 28:47
  Speaker 3: when you're having a trashy time, because you're going to
• 28:50
  Speaker 3: look back on the trashy time and be like, Okay,
• 28:52
  Speaker 3: there was such a good reason that this happened, and
• 28:54
  Speaker 3: at the time there's no clarity, like you go, this
• 28:58
  Speaker 3: is a joke. I hate this. I don't know why
• 29:00
  Speaker 3: it's happening to me while with me, and then you
• 29:01
  Speaker 3: look back and you go, that was so pivotal in
• 29:04
  Speaker 3: helping me develop my personality and my self confidence and
• 29:07
  Speaker 3: getting me to this part of life that I am
• 29:10
  Speaker 3: now so grateful to be in and I never would
• 29:11
  Speaker 3: have taken the leap without it. But you can't see
• 29:13
  Speaker 3: that at the time. Absolutely not.
• 29:15
  Speaker 2: You never can. And do you know what it did
• 29:17
  Speaker 2: shape me? Because like I am a better leader to
• 29:20
  Speaker 2: my team now because of that, And I'm actually really
• 29:22
  Speaker 2: glad because then when I had a family, I was like,
• 29:24
  Speaker 2: do you know what, I can set the standard of
• 29:26
  Speaker 2: a flexible working arrangement and not just saying that, like, actually,
• 29:29
  Speaker 2: do you know what if you're half an hour late
• 29:31
  Speaker 2: because you've had a really crappy jacare drop off for
• 29:33
  Speaker 2: no reason, that's fine, I get it. But I think
• 29:36
  Speaker 2: had I stayed and tried to force having a family
• 29:39
  Speaker 2: with someone inherently knowing that they were not supportive of that,
• 29:42
  Speaker 2: it would have just hurt me longer in the long run,
• 29:45
  Speaker 2: so and it would have hurt my family. So it
• 29:47
  Speaker 2: sucked at the time, but actually has now made my
• 29:51
  Speaker 2: life and my family and my actual happiness so much
• 29:54
  Speaker 2: better because the grass is green. Are like, actually, for
• 29:57
  Speaker 2: me getting out it was the best thing, but I
• 29:59
  Speaker 2: didn't realize that until I was out.
• 30:01
  Speaker 3: Yeah yeah, but like you can't write, and that's why
• 30:03
  Speaker 3: we say hindsight is twenty twenty. So then what COVID
• 30:07
  Speaker 3: comes lifts You've kept your job. Money win, money wins.
• 30:10
  Speaker 3: So but also in moving back.
• 30:12
  Speaker 2: To the coast at start of twenty twenty, we also
• 30:14
  Speaker 2: put an offer on a house, our first house, because
• 30:16
  Speaker 2: my husband had just saved a fair amount of money.
• 30:19
  Speaker 3: I love this husband of yours. He sounds like he's
• 30:21
  Speaker 3: got like his head screwed on.
• 30:22
  Speaker 2: He does, thank goodness. So like I'm the outgoing, vivacious
• 30:25
  Speaker 2: one that has a wonderful time, and I bring him
• 30:27
  Speaker 2: along for that, Like he couldn't book a flight to
• 30:29
  Speaker 2: save his life, so if he had met me, he
• 30:31
  Speaker 2: would have never left the country. But so I bring
• 30:34
  Speaker 2: the fun, he brings the bank balance. So we like
• 30:38
  Speaker 2: work together.
• 30:38
  Speaker 3: Well do you know what partnership?
• 30:41
  Speaker 2: So he had saved one hundred and twenty thousand dollars
• 30:44
  Speaker 2: by little okay king when you earn one hundred grand
• 30:48
  Speaker 2: every year for three years and you have zero our goings.
• 30:51
  Speaker 2: So I like to say that I helped save for
• 30:53
  Speaker 2: our house deposit by the job that I had that
• 30:56
  Speaker 2: gave us a house and like internet, water utilities, so
• 31:00
  Speaker 2: where it's his income obviously provided us the cash to
• 31:02
  Speaker 2: be able to save. So he was really lovely where
• 31:05
  Speaker 2: he saw that as a joint savings because he saw
• 31:07
  Speaker 2: I guess what, I probably mentally and physically sacrificed in
• 31:10
  Speaker 2: that role to get it.
• 31:11
  Speaker 3: At the end of the day's partnership. And it doesn't
• 31:13
  Speaker 3: matter how other people see it. It's just how you
• 31:15
  Speaker 3: guys see it, And as long as you're on the
• 31:16
  Speaker 3: same page, I don't care exactly.
• 31:18
  Speaker 2: So I'm like, I'm very grateful because I physically would
• 31:21
  Speaker 2: never have had a house without him. But I also
• 31:24
  Speaker 2: know that, yeah, he may not have ever saved that
• 31:26
  Speaker 2: volume of money without me and the role that I had.
• 31:29
  Speaker 2: So we very much respect each other in the way
• 31:32
  Speaker 2: that we benefit our family in different things that we do.
• 31:36
  Speaker 2: So we were very fortunate though. Yeah. February twenty twenty,
• 31:38
  Speaker 2: we purchased our first house. We didn't know COVID was coming,
• 31:42
  Speaker 2: so everyone that says, oh, my goodness, you're so lucky. Yes,
• 31:45
  Speaker 2: but I guess at the time all of our friends
• 31:48
  Speaker 2: had two years prior bought a house in Queensland for
• 31:50
  Speaker 2: four hundred five hundred thousand. We were now looking at
• 31:54
  Speaker 2: six to seven hundred because the market had gone up,
• 31:56
  Speaker 2: so we didn't feel lucky at the time. We were like, oh,
• 31:58
  Speaker 2: we're behind, you've stooged yees. So we capped our budget
• 32:02
  Speaker 2: out at six fifty. We're very fortunate to buy a
• 32:04
  Speaker 2: house six hundred and fifty thousand, and he works in healthcare,
• 32:08
  Speaker 2: so our broker told us at the time we actually
• 32:11
  Speaker 2: needed ten percent deposits, so that was really great. I
• 32:14
  Speaker 2: guess I want to say this that we also didn't
• 32:16
  Speaker 2: know how to buy a house. We googled how to
• 32:18
  Speaker 2: buy a house? Do you know what?
• 32:21
  Speaker 3: I'm currently working on an online course for literally that
• 32:23
  Speaker 3: I own a mortgage breaking business and you probably already
• 32:26
  Speaker 3: know that. So like, I talk to people about doing
• 32:28
  Speaker 3: this every day, but like, how do you know how
• 32:31
  Speaker 3: to buy a house? Like it's even like that first
• 32:33
  Speaker 3: conversation with a real estate agent, like you pick up
• 32:35
  Speaker 3: the phone you've seen them on real estate to COMMU
• 32:37
  Speaker 3: You're like, can I come for an inspection? And then
• 32:39
  Speaker 3: you like it, and it's like what do I ask next?
• 32:41
  Speaker 3: Like do you go, oh, hey, real estate agent, can
• 32:43
  Speaker 3: I have this one?
• 32:44
  Speaker 2: Or no?
• 32:45
  Speaker 3: Like exactly what do I ask for? And then I'm like, okay, cool,
• 32:48
  Speaker 3: So need you ask for this, this, this, and this
• 32:49
  Speaker 3: and a section thirty two? And everyone's like wait, what
• 32:52
  Speaker 3: like you just don't know, you just don't know.
• 32:54
  Speaker 2: And so I understood going like we'd rented a lot,
• 32:56
  Speaker 2: so I'm like, I know how to go and look
• 32:57
  Speaker 2: at a house and what I want to practically look for.
• 33:00
  Speaker 2: It was just like, how do we know how much
• 33:01
  Speaker 2: we can spend and how much is the bank going
• 33:03
  Speaker 2: to give us? And how does that work?
• 33:05
  Speaker 3: Did your broker help?
• 33:06
  Speaker 2: Yes? The broker did help. So prior to this, pretty
• 33:09
  Speaker 2: much all of our friends who are young professionals, had
• 33:11
  Speaker 2: bought a house. So we text them and was like,
• 33:13
  Speaker 2: how do we do this? And they were like, here's
• 33:14
  Speaker 2: the broker. Call them and they guided us through it. Thankfully,
• 33:18
  Speaker 2: they answered all of our ridiculous questions because I remember
• 33:20
  Speaker 2: saying when you put in the offer, they're like, what deposit?
• 33:23
  Speaker 2: And I'm like, oh, is this where we give the
• 33:24
  Speaker 2: ten percent? And they're like, no, no, no, you just
• 33:26
  Speaker 2: need to give us some cash deposit to hold it.
• 33:28
  Speaker 2: And I was like, okay, so do I give you
• 33:30
  Speaker 2: like two hundred dollars? Like how much do we give?
• 33:33
  Speaker 3: It's crazy, right, like you just don't know these things.
• 33:36
  Speaker 2: And I think that's what's really funny is there's this
• 33:38
  Speaker 2: idea that everybody knows how to do it, but actually
• 33:40
  Speaker 2: no one knows how to do it. And it's those
• 33:43
  Speaker 2: really simple questions.
• 33:44
  Speaker 3: But it's not silly. It's not silly. You didn't learn
• 33:46
  Speaker 3: about this in school, like your parents didn't teach you.
• 33:49
  Speaker 3: Who was going to teach you?
• 33:50
  Speaker 2: What?
• 33:50
  Speaker 3: Do you just get this information by osmosis because you
• 33:52
  Speaker 3: walked past a real estate agent once like no, no,
• 33:55
  Speaker 3: we've got to ask them and they're not silly.
• 33:57
  Speaker 2: So we were really lucky that yes, we did buy
• 33:59
  Speaker 2: before COVID. We actual settled in COVID, so we actually
• 34:01
  Speaker 2: had to get permission to move at this point in time,
• 34:04
  Speaker 2: and we actually questioned should we just forgo it? Like
• 34:06
  Speaker 2: is the asking to fall out of the market, which
• 34:08
  Speaker 2: everyone kind of thought. And then our real estate agent
• 34:10
  Speaker 2: was actually really good and she was like, well, if
• 34:12
  Speaker 2: you need somewhere to live, it's not a bad investment.
• 34:15
  Speaker 2: If you were looking at flipping houses, then maybe not,
• 34:18
  Speaker 2: but you know. And then obviously it went boom, which
• 34:21
  Speaker 2: no one again knew. But we were then very fortunate
• 34:24
  Speaker 2: that we had a house. We kept our jobs again,
• 34:27
  Speaker 2: my husband working in healthcare, were more hours than less,
• 34:30
  Speaker 2: so we were okay, but we didn't loan more. We
• 34:33
  Speaker 2: were oftened quite a high pre approval, but we went
• 34:36
  Speaker 2: for six fifty because we knew we could pay for
• 34:38
  Speaker 2: that on one income. We wanted to have a family.
• 34:41
  Speaker 3: Yeah, great, and that probably proved to be a very
• 34:45
  Speaker 3: good purchase. I'm going to ask you a little bit
• 34:47
  Speaker 3: more about that later in the show. So you've bought
• 34:49
  Speaker 3: the house in February twenty twenty, get me up to speed.
• 34:52
  Speaker 3: Then you had babies, babies.
• 34:54
  Speaker 2: I've had one first baby twenty twenty one, so I
• 34:56
  Speaker 2: did actually have another miscarriage before that, so I met Sorry,
• 35:00
  Speaker 2: oh that's okay, another non viable Absolutely fine, But.
• 35:03
  Speaker 3: Again I just like to say it because I think
• 35:05
  Speaker 3: it's not absolutely fine. But we need to talk about
• 35:07
  Speaker 3: this stuff, like if we're talking about pregnancy, I'm just
• 35:09
  Speaker 3: so glad that we are now more open with talking
• 35:11
  Speaker 3: about it because when I had my first miscarriage, I
• 35:14
  Speaker 3: thought there was something wrong with me.
• 35:15
  Speaker 2: And that's the thing I think it's so important to
• 35:17
  Speaker 2: also highlight, like female should talk about finance and they
• 35:20
  Speaker 2: should talk about their ovaries. Good bad are indifferent, and
• 35:23
  Speaker 2: I'm a staunch believer in both of that. So when
• 35:25
  Speaker 2: I say it's fine, as in I was really lucky
• 35:27
  Speaker 2: where I didn't take a huge emotional impact. I was
• 35:30
  Speaker 2: quite like, great, my body decided this is not the
• 35:33
  Speaker 2: time for me. Sure, no worries. And that's where I
• 35:34
  Speaker 2: think I always like to call them a non.
• 35:36
  Speaker 3: Vible No, that's perfect.
• 35:38
  Speaker 1: I love that.
• 35:38
  Speaker 3: I've noticed that you were saying that. I was like, oh,
• 35:40
  Speaker 3: I really like that, because it's true.
• 35:41
  Speaker 2: It's true. I never made it to twelve weeks. We
• 35:43
  Speaker 2: just never had a heartbeat. It was essentially tried swinging
• 35:46
  Speaker 2: a miss and it was so Yes, I was pregnant,
• 35:48
  Speaker 2: but I guess I never want to devalue from someone
• 35:50
  Speaker 2: who has then a miscarriage at twelve weeks, twenty six weeks,
• 35:53
  Speaker 2: thirty weeks, and there's no better or worse.
• 35:56
  Speaker 3: We all have different experiences and you're not devaluing anybodies
• 35:59
  Speaker 3: by sharing yours. It's different.
• 36:02
  Speaker 2: Yeah, And that's the thing is like I speak about
• 36:04
  Speaker 2: mind the way that I do because that's my personal response,
• 36:07
  Speaker 2: and I was okay, but again it's not someone else's
• 36:10
  Speaker 2: and you should never devote. But I'm all like to
• 36:12
  Speaker 2: highlight it because it's just like, again, as a thirty
• 36:14
  Speaker 2: year old female, you were just going through the joys
• 36:17
  Speaker 2: of pregnant. You spent your whole life trying to not
• 36:18
  Speaker 2: get pregnant, and then you finally want to be pregnant
• 36:20
  Speaker 2: and it doesn't work.
• 36:21
  Speaker 3: It's a circus.
• 36:22
  Speaker 2: It's a circus. But yes, twenty twenty one I had
• 36:25
  Speaker 2: my first beautiful daughter as so she's now four, and
• 36:29
  Speaker 2: then twenty twenty three I had my second child, my son.
• 36:33
  Speaker 2: They're actually twenty months apart.
• 36:35
  Speaker 3: That's so exciting.
• 36:37
  Speaker 2: Wild is the only way I can describe it. But
• 36:39
  Speaker 2: so I guess from us. We went twenty twenty to
• 36:42
  Speaker 2: buying a house twenty twenty one, had a baby twenty
• 36:46
  Speaker 2: twenty two. We then someone floated the idea to us
• 36:49
  Speaker 2: and said, hey, you should use the equity in your house. Okay,
• 36:53
  Speaker 2: what does that word mean? So I literally emailed our brokeup,
• 36:57
  Speaker 2: what does equity mean? And what can I do with it?
• 37:00
  Speaker 2: I'm pretty sure I love this? No, no, no, I
• 37:02
  Speaker 2: love this.
• 37:03
  Speaker 3: Queen knew who'd ask that's all we need to do?
• 37:06
  Speaker 3: Get your team and create your village.
• 37:08
  Speaker 2: What do I do with this? Because we'd thought about
• 37:10
  Speaker 2: buying another investment, but again we'd also grown up with
• 37:12
  Speaker 2: the idea that you buy one house because that's all
• 37:14
  Speaker 2: you need. But we actually emailed him and again due
• 37:16
  Speaker 2: to COVID, thank you for the wonders of COVID, but
• 37:19
  Speaker 2: also it did provide us in Southeas Queensvent a huge boost.
• 37:22
  Speaker 2: So our six fifty house in two years went to
• 37:25
  Speaker 2: a nine hundred and fifty thousand dollar house. Money whim
• 37:28
  Speaker 2: So he says, you've got three hundred grand. Obviously you
• 37:30
  Speaker 2: can loan up to ninety percent of that, so you
• 37:32
  Speaker 2: can pull all of that out. And so we actually
• 37:35
  Speaker 2: then opted to buy an investment property. Now we actually
• 37:38
  Speaker 2: chose to buy in regional Queensland where we used to
• 37:41
  Speaker 2: sort of live before, because we knew the area, we
• 37:45
  Speaker 2: knew the local real estate, we knew the local handyman.
• 37:48
  Speaker 2: Would anyone else buy there? No, but it actually has
• 37:51
  Speaker 2: a huge vacancy rate because there's not a lot of stock.
• 37:55
  Speaker 2: I guess because it's a small town. We purchased a
• 37:58
  Speaker 2: price for two hundred and twenty thousand dollars, which I
• 38:02
  Speaker 2: think is wild because I'm sure people are thinking, where
• 38:03
  Speaker 2: on earth can you buy a house for two hundred
• 38:05
  Speaker 2: and twenty thousand dollars.
• 38:06
  Speaker 3: It's possible, it is, so tell me is it worth
• 38:08
  Speaker 3: two hundred and twenty thousand dollars today?
• 38:10
  Speaker 2: No, it is worth three hundred and eighty thousand.
• 38:12
  Speaker 3: Stop it.
• 38:14
  Speaker 2: Stop it.
• 38:14
  Speaker 3: You're an investing queen, and you were like, what equity high?
• 38:18
  Speaker 2: I can't wait for you to ask me what the
• 38:20
  Speaker 2: rental yield on that one is. It's currently tenanted for
• 38:23
  Speaker 2: three eighty a week.
• 38:24
  Speaker 3: Okay, great.
• 38:26
  Speaker 2: I was like, she's going to be so proud of me.
• 38:27
  Speaker 3: That is a very good rental yield.
• 38:30
  Speaker 2: We just wanted to buy our first investment property at
• 38:32
  Speaker 2: a very low risk. We're very risk adverse at this
• 38:34
  Speaker 2: point in time, you know, post COVID, we've got children,
• 38:37
  Speaker 2: and so let's test the waters of how does this
• 38:39
  Speaker 2: investment idea work in a property hence why we just
• 38:43
  Speaker 2: bought a very cheap in terms of low risks. So
• 38:46
  Speaker 2: we were like, if it's not tenative for six months,
• 38:48
  Speaker 2: that's okay. We can still afford the mortgage repayments on this. Yeah.
• 38:51
  Speaker 3: Yeah, And that's a really nice position to be in
• 38:54
  Speaker 3: and definitely something that I would want to be taking
• 38:56
  Speaker 3: into consideration. But like, sorry, I'm just watching your like
• 38:59
  Speaker 3: money story unfolding. Usually we have like a shorter part
• 39:03
  Speaker 3: at the part where we took about your money story
• 39:04
  Speaker 3: and then I ask all these questions. But like, I
• 39:06
  Speaker 3: have been watching your money story unfold from like being
• 39:10
  Speaker 3: on a farm in New South Wales and your mom
• 39:12
  Speaker 3: being like you can't stay here and she wanting better
• 39:15
  Speaker 3: for you, and like you being a red bull girl,
• 39:17
  Speaker 3: to buying your first property, getting some insane equity, getting
• 39:20
  Speaker 3: your first investment property. What happens now?
• 39:24
  Speaker 2: So now we have gone back to work full time.
• 39:27
  Speaker 2: We have two children. Both my husband and I work
• 39:29
  Speaker 2: full time. He is an incredible husband that does pick ups,
• 39:32
  Speaker 2: drop offs, he cooks, he cleans, so it makes all
• 39:35
  Speaker 2: of this possible, as so do I. Well for us
• 39:37
  Speaker 2: financially being working full time. We have just recently settled
• 39:41
  Speaker 2: on a second investment property. We decided about six months
• 39:46
  Speaker 2: ago that we're in our prime working and we can
• 39:49
  Speaker 2: see now the benefits that property is in Australia. Now,
• 39:52
  Speaker 2: there's part of me that has a moral and ethical
• 39:55
  Speaker 2: issue with stockpiling property.
• 39:57
  Speaker 3: It's a different story though it is.
• 39:59
  Speaker 2: But then I also look at it. We are purely
• 40:00
  Speaker 2: buying for rentals.
• 40:01
  Speaker 3: Well, you're buying, and you're buying for mental yield. But
• 40:03
  Speaker 3: then also there's a very big argument that you mentioned before.
• 40:07
  Speaker 3: And I don't know the property address, I haven't been
• 40:09
  Speaker 3: able to look at it, but you just told me
• 40:10
  Speaker 3: that you're buying in a lower socioeconomic area. And the
• 40:13
  Speaker 3: reality is we need a lot of rentals in that
• 40:16
  Speaker 3: space with landlords who are not idiots. We need a
• 40:19
  Speaker 3: lot of landlords who have empathy and kindness and are
• 40:22
  Speaker 3: happy to lease their properties out. Not because we want
• 40:27
  Speaker 3: to stockpile property, but the reality of those lower socioeconomic
• 40:30
  Speaker 3: areas is that those people are very unlikely to be
• 40:33
  Speaker 3: approved for a loan, they're unlikely to be able to
• 40:36
  Speaker 3: save a deposit, and they might not even have any
• 40:38
  Speaker 3: interest in getting into the property market in that way.
• 40:41
  Speaker 3: So our country literally needs rental properties on the market
• 40:46
  Speaker 3: owned by not idiots, and that's a good thing. But
• 40:49
  Speaker 3: you're right, stop piling as a different story. And it
• 40:52
  Speaker 3: all comes down to your ethics, Like if you're going
• 40:54
  Speaker 3: to be a landlord, just be a good one. Okay.
• 40:56
  Speaker 2: Yeah. And I'm actually funny now because I actually preference
• 41:00
  Speaker 2: people with children because I'm like, no, you need housings.
• 41:02
  Speaker 3: See see, I like that. Let's more of that.
• 41:05
  Speaker 2: Both of that tenants in both of our properties have
• 41:06
  Speaker 2: young kids. So we are now very fortunate as we
• 41:09
  Speaker 2: who go that we own our second investment property. But
• 41:11
  Speaker 2: we actually opted to buy in our local area because
• 41:15
  Speaker 2: I guess the capital growth in our area is quite
• 41:18
  Speaker 2: good and just to diversify. We didn't want to buy
• 41:21
  Speaker 2: again in another regional area, and it just to kind
• 41:24
  Speaker 2: of diversify the properties. So that was definitely a bigger purchase.
• 41:27
  Speaker 2: We actually purchased for nine hundred thousand dollars, which like
• 41:31
  Speaker 2: five years ago was alarming to me. But now I
• 41:34
  Speaker 2: guess our strategy is leveraging as much debt for investments as.
• 41:40
  Speaker 3: Possible, and that is just so exciting. Like I want
• 41:43
  Speaker 3: to go back and tell baby you who got her
• 41:45
  Speaker 3: first credit card and like her husband contributed most of
• 41:49
  Speaker 3: their deposit for your first home. That your first home
• 41:53
  Speaker 3: that you purchased for six fifty which was like a stretch. Yes,
• 41:55
  Speaker 3: you could have been improved for more, but was a stretch.
• 41:57
  Speaker 3: By the way, You're going to buy an investment property
• 41:59
  Speaker 3: in literally less than five years for nine hundred thousand dollars.
• 42:02
  Speaker 3: So don't stress bad, don't stress like, isn't that crazy?
• 42:04
  Speaker 2: It is so crazy. And I know that you think
• 42:06
  Speaker 2: about it, well, that's just what the housing prices have
• 42:08
  Speaker 2: done now. But I'm like, again, I was of the
• 42:09
  Speaker 2: generation that like nine hundred million dollar houses were mansions.
• 42:13
  Speaker 2: You know, we've just bought a three bedroom townhouse for
• 42:15
  Speaker 2: nine hundred thousand. But still, I guess the idea now
• 42:19
  Speaker 2: is that I said to my husband, I was like,
• 42:21
  Speaker 2: I hope we're really committed together because we've got one
• 42:23
  Speaker 2: point eight million dollars worth of debt together.
• 42:25
  Speaker 3: Yeah, we in deep. We're in really deep. So tell
• 42:27
  Speaker 3: me you're both full time? Now, how much are you
• 42:29
  Speaker 3: earning and how much is he earning?
• 42:30
  Speaker 2: So I in one hundred and thirty five thousand a
• 42:32
  Speaker 2: year plus super and in hospit and in hospit, yes,
• 42:36
  Speaker 2: because I which is very exciting, and I actually work
• 42:40
  Speaker 2: a thirty eight hour week.
• 42:42
  Speaker 3: You're crazy, but like I love it.
• 42:43
  Speaker 2: I know it's wild. And so that's the thing. There
• 42:45
  Speaker 2: is definitely hospo jobs that like in my area that
• 42:48
  Speaker 2: you can get and push, you know, two hundred, two
• 42:50
  Speaker 2: hundred and fifty if you're a GM of a big hotel,
• 42:53
  Speaker 2: like a soft hotel, that kind of thing. But you
• 42:56
  Speaker 2: work and you report to a big board internationally, and
• 43:00
  Speaker 2: like I said, you kind of work sixty hours a week.
• 43:02
  Speaker 2: So for me, that's not worth it for my salary,
• 43:05
  Speaker 2: and the fact that I work a thirty eight hour
• 43:07
  Speaker 2: week is valuable to me at this point in my life.
• 43:10
  Speaker 3: And what does your husband do and how much does
• 43:12
  Speaker 3: he earn?
• 43:12
  Speaker 2: Yeah, so he works in healthcare and he works for
• 43:14
  Speaker 2: Queensland Health so he earns one hundred and fifty thousand.
• 43:17
  Speaker 3: Oh, how good. So you've got an epic duel income
• 43:20
  Speaker 3: now and you're completely out of your maxed credit card.
• 43:24
  Speaker 3: Tell me a bit more about what the future looks like.
• 43:26
  Speaker 3: You've just purchased a nine hundred thousand dollar investment property.
• 43:29
  Speaker 3: You already have another investment property, Like, what are your
• 43:31
  Speaker 3: big money goals? Like, you're already married, you already have kids, Like,
• 43:34
  Speaker 3: are their big ticket things that you're like, we're really
• 43:37
  Speaker 3: working towards XVE.
• 43:38
  Speaker 2: I actually had a thought about this, So I think
• 43:40
  Speaker 2: my personal big money goal, which is it is a
• 43:43
  Speaker 2: short term one. So I'm currently thirty seven, and about
• 43:45
  Speaker 2: two years ago I went on a friend's long lunch
• 43:49
  Speaker 2: and one of my friends is an accountant and she
• 43:52
  Speaker 2: was like, I don't care what you do with your money,
• 43:53
  Speaker 2: but focus on your super com and I was like, oh,
• 43:55
  Speaker 2: I don't even know what my superbalance is and she
• 43:57
  Speaker 2: looked at me mortified. So I think I then I
• 44:00
  Speaker 2: went home from this lunch and looked at it, asked
• 44:02
  Speaker 2: my husband about it. I knew very little about kind
• 44:04
  Speaker 2: of super so at the time he was like, well, look,
• 44:07
  Speaker 2: actually let's work backwards. So I actually use the money
• 44:10
  Speaker 2: smart calculator of how much super do I want to
• 44:12
  Speaker 2: have when I retire and go backwards. So my short
• 44:15
  Speaker 2: term goal is actually big money goal is to get
• 44:17
  Speaker 2: to two hundred thousand dollars of super by the age
• 44:19
  Speaker 2: of forty.
• 44:20
  Speaker 3: And you're like, obviously you're working backwards. You've got a
• 44:23
  Speaker 3: plan and that's going to happen.
• 44:24
  Speaker 2: Yeah, So based on my employee contributions plus I salary
• 44:27
  Speaker 2: sacrifice and extra hundred dollars a week.
• 44:29
  Speaker 3: Oh gog.
• 44:30
  Speaker 2: Yeah. So the goal is is I will just get
• 44:32
  Speaker 2: to two hundred thousand in the next three years, which
• 44:35
  Speaker 2: I then essentially did the calculator projections will get me
• 44:38
  Speaker 2: a million dollars worth of super by the time I'm
• 44:41
  Speaker 2: sixty five.
• 44:41
  Speaker 3: Yeah, that is very cool. So, in addition to your
• 44:44
  Speaker 3: two investment properties, do you guys have any other additional investments?
• 44:47
  Speaker 2: So we do, but not jointly. So my husband is
• 44:50
  Speaker 2: actually a very good avid investor, and he actually wishes
• 44:52
  Speaker 2: he started earlier.
• 44:53
  Speaker 3: I love this man. I like that he's just bopping along.
• 44:56
  Speaker 3: He's like, oh you do you have your fun with
• 44:58
  Speaker 3: your debt. I'll just save your house to posit. Also,
• 45:01
  Speaker 3: I've got shares.
• 45:02
  Speaker 2: You're good. I know. I literally married my mest egg
• 45:05
  Speaker 2: is what I call him.
• 45:07
  Speaker 3: I love this.
• 45:07
  Speaker 2: I love this.
• 45:08
  Speaker 3: So do you know what he holds in shares or
• 45:10
  Speaker 3: like what he invests in.
• 45:12
  Speaker 2: He has done direct shares previously. So he started investing
• 45:15
  Speaker 2: when we were living remotely, probably because he was bored
• 45:17
  Speaker 2: because I was working all the time, and he started
• 45:20
  Speaker 2: kind of doing direct shares. He didn't know about ETFs
• 45:23
  Speaker 2: at this point in time, or index funds, which he
• 45:25
  Speaker 2: regrets now, but he was doing direct shares, blue chip
• 45:28
  Speaker 2: direct shares, Origin, Macquarie Bank, NAB. He then during COVID,
• 45:34
  Speaker 2: because there was obviously a downturn in the market and
• 45:36
  Speaker 2: we had not needed to use all of the money
• 45:39
  Speaker 2: for our house deposit, he essentially put fifty thousand dollars
• 45:42
  Speaker 2: into the shares, So his portfolio was sitting about a
• 45:47
  Speaker 2: month ago around the two hundred thousand dollar mark.
• 45:49
  Speaker 3: Cheese, Louise, you are right, you are sitting on your
• 45:52
  Speaker 3: nest egg.
• 45:53
  Speaker 2: But he actually sold some of them out a because
• 45:56
  Speaker 2: some of the companies were actually selling Origin was questioning
• 45:58
  Speaker 2: a merger. But we actually needed a little bit of
• 46:01
  Speaker 2: shortfall to buy our most recent property because of our
• 46:05
  Speaker 2: the bank wouldn't give us the service ability to get
• 46:07
  Speaker 2: the mortgage plus stamp duty. So he's currently sitting on
• 46:11
  Speaker 2: one hundred and fifty thousand dollars worth of shares. He
• 46:13
  Speaker 2: did have to pull some out to pay for our
• 46:16
  Speaker 2: investment property. Really nice of him. I personally do have
• 46:19
  Speaker 2: a very mini portfolio. I have three thousand dollars in
• 46:24
  Speaker 2: that's not mini. That's great in quoal is my ticket code?
• 46:29
  Speaker 2: Why because that's what my husband told me to do.
• 46:31
  Speaker 3: Okay, icon love that, love that. So any other investments
• 46:35
  Speaker 3: in addition to those.
• 46:36
  Speaker 2: I had just started recently after listening to you guys
• 46:39
  Speaker 2: open to shares his account.
• 46:40
  Speaker 3: We're becoming a cult, aren't we?
• 46:42
  Speaker 2: Yeah? I got the Shares's account. Want to work out
• 46:44
  Speaker 2: the best way to start investing for my kids, and
• 46:47
  Speaker 2: I wanted it. Obviously, you can't set it up for
• 46:49
  Speaker 2: tax purposes to be in their names, and Raised has
• 46:52
  Speaker 2: a kids section. But I actually worked out a really
• 46:54
  Speaker 2: cool way with Shares. So you can do auto invest
• 46:57
  Speaker 2: and you can call it something.
• 46:58
  Speaker 3: Yeah you can. Yeah, that's what a lot of our
• 47:00
  Speaker 3: community do.
• 47:01
  Speaker 2: Yeah, I just call it my kids name. So I
• 47:03
  Speaker 2: invest thirty dollars a week into a separate ETF each
• 47:07
  Speaker 2: for my children, and I just do auto invest. And
• 47:10
  Speaker 2: I've just let that as set and forget adore.
• 47:13
  Speaker 3: So tell me, I feel like, over this period of
• 47:16
  Speaker 3: time you've probably garnered up a few good money habits
• 47:19
  Speaker 3: and if you like, not so good money habits, So
• 47:21
  Speaker 3: tell me what do you think your best money habit is?
• 47:24
  Speaker 2: So, I would say, as a day to day. We
• 47:28
  Speaker 2: as a collective but also myself, we spend very little
• 47:31
  Speaker 2: on going out and coffees and doing things. I think
• 47:35
  Speaker 2: not because we can't be bothered by actually because we
• 47:37
  Speaker 2: work full time. We try not to leave the house
• 47:39
  Speaker 2: on our days off. We also live near the beach.
• 47:41
  Speaker 2: We have a house with a pool, so I don't
• 47:42
  Speaker 2: spend too much on activities. My short term best money
• 47:45
  Speaker 2: habit is that we don't buy coffee. We have a
• 47:47
  Speaker 2: great coffee machine at home. I work in hospitality, I
• 47:49
  Speaker 2: actually prefer my own coffee. We don't go out that much.
• 47:52
  Speaker 2: We were so used to living remotely where takeaway wasn't
• 47:54
  Speaker 2: an option, so we're so used to cooking and meal planning.
• 47:57
  Speaker 2: So short like, I guess the best many wins, we
• 48:00
  Speaker 2: definitely don't spend too much. My other win is I
• 48:04
  Speaker 2: am a little bit frugal when it comes to insurances.
• 48:07
  Speaker 2: I hate insurance companies, so I every year change insurance
• 48:12
  Speaker 2: providers and I guess to give a bit of example,
• 48:15
  Speaker 2: this year I changed our home and contents insurance for
• 48:17
  Speaker 2: both our investment and our owner occupier. Our current owner
• 48:21
  Speaker 2: occupier house was about three thy eight hundred. The renewal
• 48:24
  Speaker 2: came for seven thousand dollars.
• 48:27
  Speaker 3: Hi, so probably not.
• 48:28
  Speaker 2: Though, yeah, it decided that our house has gone up,
• 48:31
  Speaker 2: therefore the building cost has gone up. And also we
• 48:33
  Speaker 2: had a cyclone warning in Queensland, so that's jacked it
• 48:36
  Speaker 2: up again. And I was like, absolutely not. I went
• 48:38
  Speaker 2: shopping and I actually got it for cheaper than I
• 48:41
  Speaker 2: even had it before, and got it for thirty six
• 48:43
  Speaker 2: hundred money win.
• 48:44
  Speaker 3: See, we're making money. We're making money. And I did
• 48:47
  Speaker 3: the same for our investment property.
• 48:48
  Speaker 2: So I guess, do not be loyal to insurance companies.
• 48:51
  Speaker 2: It costs you like four or five hours of the day,
• 48:53
  Speaker 2: a lot of phone calls, a lot of annoying phone calls,
• 48:56
  Speaker 2: but you will never get a good renewal price. They
• 48:59
  Speaker 2: only give good price seing to new customers.
• 49:01
  Speaker 3: Sorry what you actually said? Yeah, okay, it took you
• 49:04
  Speaker 3: a few hours, but I'm pretty sure you've never made
• 49:07
  Speaker 3: three thousand or four thousand dollars in the space of
• 49:09
  Speaker 3: three or four hours. So like, I'm actually happy with that.
• 49:12
  Speaker 3: ROI that's a good deal.
• 49:13
  Speaker 2: It is. And like this is where we differ where
• 49:15
  Speaker 2: my husband would never do it. He's like, it's fine,
• 49:17
  Speaker 2: just pay it, it doesn't matter and I'm like, no,
• 49:19
  Speaker 2: I'm the same with our mortgage. Every two years we refinance.
• 49:22
  Speaker 2: Now sometimes we might stay with the same bank if
• 49:24
  Speaker 2: they're going to match it, but I will happily do
• 49:26
  Speaker 2: the paperwork.
• 49:27
  Speaker 3: Yeah, we're reviewing our rate.
• 49:28
  Speaker 2: I will move. I don't mind the paperwork. I think
• 49:30
  Speaker 2: they just assume that the if they kill you in paperwork,
• 49:33
  Speaker 2: you'll choose to stay.
• 49:34
  Speaker 3: Oh no, we review. So in my business, I like
• 49:36
  Speaker 3: make sure that every single client has a proper mortgage
• 49:39
  Speaker 3: review every twelve months, because I'm literally like to my brokers, no, no, no,
• 49:42
  Speaker 3: to put our clients in the best possible position, Like
• 49:44
  Speaker 3: I'm on the show preaching that we should do this.
• 49:47
  Speaker 3: We do this for our clients every twelve months. And
• 49:49
  Speaker 3: you know, it might come up that they're fixed and
• 49:51
  Speaker 3: so they can't. But I've looked at their file and
• 49:53
  Speaker 3: be like, okay, cool, can't help them right now, All right,
• 49:56
  Speaker 3: there's another date in the calendar for when I can.
• 49:58
  Speaker 2: So that would be definitely my money habit that I
• 50:01
  Speaker 2: think contributes obviously to our household, in addition to obviously
• 50:04
  Speaker 2: just our budget and looking at that and just knowing
• 50:06
  Speaker 2: where the money is going out.
• 50:07
  Speaker 3: One hundred percent, and what's your worst money habit.
• 50:10
  Speaker 2: I actually had this and one of your other money
• 50:12
  Speaker 2: direst said it, and I was like, I can resonate
• 50:14
  Speaker 2: cam ut came up for the kids.
• 50:17
  Speaker 3: Honestly, Oh yeah, it's a slippery slope. They know what
• 50:20
  Speaker 3: they're doing. They know what they're doing.
• 50:21
  Speaker 2: It's probably my worst thing. And then I also said
• 50:24
  Speaker 2: that we don't go out, so yes, we don't want
• 50:26
  Speaker 2: to take away, we don't get subway, we don't get
• 50:28
  Speaker 2: tied once a week, but when my husband and I
• 50:31
  Speaker 2: do go out, we'll spend six hundred dollars on dinner.
• 50:35
  Speaker 2: So my worst money habit is when we do go
• 50:38
  Speaker 2: out for dinner or we do go out for lunch.
• 50:40
  Speaker 2: It's like, well we don't do this very often. Here's
• 50:42
  Speaker 2: one thousand dollars.
• 50:43
  Speaker 3: Ah yeah, okay, okay, And like they came out thing
• 50:46
  Speaker 3: I think a lot of us can resonate with, Like
• 50:48
  Speaker 3: you just.
• 50:48
  Speaker 2: Accidentally buy one hundred and eighty dollars in your cart
• 50:50
  Speaker 2: and you're like, well, that's a couple of T shirts,
• 50:52
  Speaker 2: a new pair of shoes. I needed that new rug
• 50:55
  Speaker 2: for the playroom.
• 50:56
  Speaker 3: Why have they got good stuff? Like stop?
• 50:59
  Speaker 2: Yeah, came out and dining out.
• 51:01
  Speaker 3: Yeah, and they know what they're doing on the back end.
• 51:03
  Speaker 3: They're like looking at all their data and all their
• 51:05
  Speaker 3: analytics and being like, Okay, we're going to place this
• 51:07
  Speaker 3: product near this product because if she goes in she
• 51:10
  Speaker 3: might be interested. Like they're smart, promise they know what
• 51:12
  Speaker 3: they're doing. So now that we've had this chat, which
• 51:16
  Speaker 3: has been absolutely brilliant, Like from my perspective, I've really
• 51:20
  Speaker 3: really enjoyed it. You said at the start, my money
• 51:22
  Speaker 3: habits are a bee. What would it take to get
• 51:25
  Speaker 3: you from a bee to an a plus? Like? What
• 51:27
  Speaker 3: work do we have to do?
• 51:29
  Speaker 2: I think the biggest thing for me is two different points.
• 51:32
  Speaker 2: Is one is having a better understanding of SUPER. I
• 51:35
  Speaker 2: definitely value it, and I'm so grateful now that I'm
• 51:38
  Speaker 2: focusing on it because I sometimes look at other people
• 51:41
  Speaker 2: who are like working their own businesses and like, I
• 51:43
  Speaker 2: just haven't paid my SUPER for a few years, Like
• 51:45
  Speaker 2: that now gives me an anxiety of you're going to
• 51:48
  Speaker 2: be reliant on someone else and that thing. I love
• 51:50
  Speaker 2: my husband, but I also don't want to be reliant
• 51:51
  Speaker 2: on him. I don't want to stay in a marriage
• 51:54
  Speaker 2: because I financially have to, So learning more about Super
• 51:58
  Speaker 2: in terms of its growth, how to balance it out,
• 52:01
  Speaker 2: what the profile is. I have very little understanding of that.
• 52:05
  Speaker 2: And I think the other thing is is that we've
• 52:06
  Speaker 2: been very fortunate to get through by googling things, chat
• 52:09
  Speaker 2: epting things. But we're probably at a stage in our
• 52:12
  Speaker 2: life now actually getting paid good professional advice. And I
• 52:16
  Speaker 2: think for us, in a few years, we're going to
• 52:18
  Speaker 2: come out of the daycare costs and window and then
• 52:20
  Speaker 2: I think, great, what are we going to do with
• 52:22
  Speaker 2: that twenty two thousand dollars a year that we currently
• 52:25
  Speaker 2: pay in super? Like should we invest it? Should we
• 52:28
  Speaker 2: pay off our own or occupy a Where where should
• 52:30
  Speaker 2: we put that money? And I think that's where we're
• 52:32
  Speaker 2: kind of capped now at our knowledge. We need help
• 52:36
  Speaker 2: And I think that's the limitations of my financial literacy now,
• 52:40
  Speaker 2: is needing more help with those things.
• 52:41
  Speaker 3: But you've got clarity on it. And that's why I
• 52:43
  Speaker 3: was like, oh, what's going to take And you were like, okay, cool,
• 52:45
  Speaker 3: So my Super, my, this my that. Like, girl, you're
• 52:47
  Speaker 3: on the right trajectory. Like it took you five years
• 52:50
  Speaker 3: to get to hear up. I mean, obviously it took
• 52:52
  Speaker 3: you longer than that, but like, over the last five years,
• 52:54
  Speaker 3: you've come in leaps and bounds. Give me even two
• 52:57
  Speaker 3: years and I think you'll be like, I'm actually I'm
• 52:58
  Speaker 3: a wizard and I've retired now by I yeah, no.
• 53:01
  Speaker 2: There would. I mean the best hack is when we
• 53:04
  Speaker 2: actually chat GBT a few things. When it came to finances,
• 53:07
  Speaker 2: I ask it everything. I am shocked at the quality
• 53:09
  Speaker 2: of advice.
• 53:10
  Speaker 3: I mean, don't get me wrong, I don't think I
• 53:12
  Speaker 3: would want someone who doesn't understand what quality advice looks
• 53:15
  Speaker 3: like generating that and then completely relying on it. But like,
• 53:17
  Speaker 3: if you know how to fact check it and look
• 53:18
  Speaker 3: at it, I'm like, oh, you're smart. Do you know
• 53:20
  Speaker 3: what you're doing?
• 53:20
  Speaker 2: Go. Yeah. So we actually have twenty thousand dollars worth
• 53:24
  Speaker 2: of car loan debt, and normally we wouldn't want to
• 53:27
  Speaker 2: go into debt for that reason, but we actually spit
• 53:29
  Speaker 2: into chat GPT. We're going to buy a forty thousand
• 53:32
  Speaker 2: dollar car. Should we novated least put my husband's work,
• 53:36
  Speaker 2: Should we take the money out of our offset, or
• 53:38
  Speaker 2: should we get a car loan genius?
• 53:40
  Speaker 3: And that helped you make the decision in the best
• 53:42
  Speaker 3: possible way.
• 53:42
  Speaker 2: With the finances exactly, and it actually said, well, if
• 53:46
  Speaker 2: and we put in the car loan rate that we
• 53:47
  Speaker 2: were getting, which was quite good, and it said, actually,
• 53:49
  Speaker 2: over the course of five years, you would make more
• 53:52
  Speaker 2: money in savings in your offset. Keep that in there
• 53:55
  Speaker 2: and get the car loan.
• 53:56
  Speaker 3: Okay, it's a genius. I love that. I'm going to
• 53:59
  Speaker 3: put a thread in my face book group soon and
• 54:00
  Speaker 3: going to be like, what is the best money question
• 54:03
  Speaker 3: you've ever asked chat gpt? Can you imagine being able
• 54:05
  Speaker 3: to scroll through that and being like, oh, actually, I'm
• 54:07
  Speaker 3: going to do this and this and this. Because I
• 54:09
  Speaker 3: can't give you the advice. I cannot legally tell you
• 54:12
  Speaker 3: to go and ask chat gpt and do that, but
• 54:14
  Speaker 3: you could read a conversation and maybe like take inspiration
• 54:16
  Speaker 3: from somebody.
• 54:17
  Speaker 2: You absolutely can't. We honestly did it. I worked out
• 54:19
  Speaker 2: an entire spreadsheet of our potential tax appreciation over the
• 54:23
  Speaker 2: course of the years with our new investment property, and
• 54:24
  Speaker 2: my husband goes, oh, just put it into chat GPT
• 54:26
  Speaker 2: and I was like, that took me two days to
• 54:28
  Speaker 2: make that spreadsheet and it took chat GPT three minutes
• 54:31
  Speaker 2: just give the same answer. At least I knew My
• 54:33
  Speaker 2: mass was right, Yeah, there you go.
• 54:35
  Speaker 3: So you are a money girl.
• 54:36
  Speaker 2: I am now now I get it. I failed accounting
• 54:39
  Speaker 2: three times and yet now give me a spreadsheet and
• 54:42
  Speaker 2: a profit and loss any day of the week.
• 54:43
  Speaker 3: That's fine. I love that, but I feel like sometimes
• 54:46
  Speaker 3: you have to get to a point where you understand
• 54:50
  Speaker 3: the benefit of it. It's not interesting when you're working
• 54:53
  Speaker 3: it out for someone else's business and you're like, I
• 54:54
  Speaker 3: don't care about a P and L, and then all
• 54:56
  Speaker 3: of a sudden, it's for your own wealth creation journey
• 54:58
  Speaker 3: and you're like, oh, actually, I've rauched my head around
• 54:59
  Speaker 3: this pretty quickly.
• 55:00
  Speaker 2: Yeah, and definitely, Yet the compound interest is definitely what
• 55:03
  Speaker 2: got us on the investment vandwagon of capital growth, not
• 55:06
  Speaker 2: necessarily dividends money.
• 55:08
  Speaker 3: Jarist, I have loved this conversation, but sadly we have
• 55:11
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• 55:13
  Speaker 3: so open and so honestly conversational. I feel like this
• 55:17
  Speaker 3: conversation has been absolutely fantastic. Our community is going to
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  Speaker 3: be obsessed. I'm just really grateful that you were willing
• 55:23
  Speaker 3: to come on the show and also give us all
• 55:24
  Speaker 3: the nitty gritty. This is how we learn.
• 55:27
  Speaker 2: Thank you so much for having me. I've loved chatting
• 55:29
  Speaker 2: to and love chatting all things finance.
• 55:37
  Speaker 3: Did buy shared on. She's on the Money is generally
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  Speaker 3: be relied upon to make an investment or financial decision.
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  Speaker 3: D A b N three two one six four nine
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  Speaker 3: five one two eight nine