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I Grew Up Terrified of Money. Now I'm Saving $2,000 a Week · She's On The Money

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  Speaker 1: My name's Tatasha Bamblet. I'm a proud First Nations woman
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  Speaker 1: and I'm here to acknowledge country te glennyan Ganya, nianaar
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  Speaker 1: Kaka yah y and Binahaka Nian our gay In Mbini
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  Speaker 1: yakarum Jar Doumayagumika Umaga Ihowaka Nilewaman damon Immalan Bumba bang
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  Speaker 1: Gadabomba in and now in wakah ghana on yakarrum jar Watanadaa. 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 let you be pervy about other people's money stories
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  Speaker 3: for educational purposes of course. Welcome back to another one
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  Speaker 3: of our money diaries, brought to you by our friends
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  Speaker 3: at sky Wealth, where I get the absolute privilege of
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  Speaker 3: sitting down with one of our incredible She's on the
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  Speaker 3: Money community members and talking to them all about their journey.
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  Speaker 3: Let's jump straight into it, because this week I got
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  Speaker 3: a message and it sounded exactly like this, HEYV and Team.
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  Speaker 3: I spent most of my childhood and adolescents fearful of
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  Speaker 3: money and in a scarcity mindset. I started working immediately
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  Speaker 3: after I turned fourteen, and I saved as hard as
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  Speaker 3: I could. Learning about investing has changed my attitude towards money.
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  Speaker 3: I now work as a sole trader in Allied Health
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  Speaker 3: and I'm saving around two grand a week to buy
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  Speaker 3: my first property next year. I'd love to share the
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  Speaker 3: experience that helped to change my attitude towards money. Our
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  Speaker 3: money Diarist two grand a week's economy. Funny, my queen,
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  Speaker 3: what are you doing? Actually, don't answer that. I will
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  Speaker 3: get to that, But my goodness, are you proud of yourself?
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  Speaker 3: I am.
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  Speaker 2: It's quite funny to hear that come back from someone
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  Speaker 2: else saying it, but yeah, I am quite fad. I
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  Speaker 2: am very privileged. I live at home, rent free and
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  Speaker 2: have a lot of good things going on that way
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  Speaker 2: as well. So the sort of luck and privilege that
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  Speaker 2: come into it to know.
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  Speaker 3: Let's learn about that because when people start to say, oh,
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  Speaker 3: there's a lot of luck, there's a lot of privilege,
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  Speaker 3: it's so crazy. There also seems to be a lot
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  Speaker 3: of hard work. Funny that it's crazy, right, Like there
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  Speaker 3: just seems to be a correlation, But we all know
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  Speaker 3: correlation isn't causation, So let's learn about it. Money diarist,
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  Speaker 3: if I asked you to give yourself a money grade
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  Speaker 3: from A three to F, what grade would you give yourself.
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  Speaker 2: I'm quite confident in a steady.
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  Speaker 3: Be, a steady be. All right, Well, let's learn more
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  Speaker 3: about that. I have a favorite question on this show.
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  Speaker 3: Everybody knows that. Let's dive into it. Can you tell
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  Speaker 3: me a little bit more about your money story and
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  Speaker 3: the things that have impacted it?
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  Speaker 2: Yeah? Sure. So I've grown up in a standard household
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  Speaker 2: to kids. Two parents. Mum and Dad worked very very hard.
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  Speaker 2: They still do work very hard. We always had enough,
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  Speaker 2: but not enough to do everything, so we never really
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  Speaker 2: went on a lot of holidays. But they prioritized sport
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  Speaker 2: and private education were two big things. They wanted us
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  Speaker 2: to enjoy our childhoods and also be set up to
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  Speaker 2: have a really good career with my brother and I
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  Speaker 2: and I always kind of picked up on the conversations
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  Speaker 2: around money growing up. I think like I always knew
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  Speaker 2: when things felt a little bit scarce or a little
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  Speaker 2: bit tight, and I kind of I used to slip
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  Speaker 2: money into mum and Dad's wallets, just so, you know,
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  Speaker 2: to help out, and it was not needed so wholesome.
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  Speaker 2: I always thought we had less than what we did,
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  Speaker 2: so growing up was kind of interesting. I was so
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  Speaker 2: keen to just jump into the workforce, so on my
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  Speaker 2: fourteenth birthday, I applied to a very popular retail company
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  Speaker 2: in Australia and I worked there for seven years. When
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  Speaker 2: I got my first job, Mum and Dad said, don't
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  Speaker 2: forget to save. So I always saved fifty of my
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  Speaker 2: pay and anything extra. I was like, bonus. I think
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  Speaker 2: I was earning thirteen dollars an hour when I was fourteen.
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  Speaker 3: And at the time, isn't it so crazy? At the time,
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  Speaker 3: You're like, WHOA, I so much money.
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  Speaker 2: It's insane because I could save so well on such
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  Speaker 2: a low rate, which was yeah, so interesting.
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  Speaker 3: I don't know, I heard about your savings rates already,
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  Speaker 3: so I think you're pretty good at it.
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  Speaker 2: Still, I think the habit kind of continued. But I
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  Speaker 2: saved for my first car that I bought when I
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  Speaker 2: was sixteen, and then set the next money goal of
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  Speaker 2: just saving until I could find something else I wanted.
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  Speaker 2: So I've just been, I guess, saving as hard as
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  Speaker 2: I could. I worked two jobs through UNI, so I
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  Speaker 2: worked in a mix of hospitality and retail or allied
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  Speaker 2: health and retail, and I was earning about one thousand
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  Speaker 2: dollars a week through UNI, which was quite a lot.
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  Speaker 2: But I was spending because.
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  Speaker 3: You're twenty two now, aren't you. Yeah, yeah, so through UNI,
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  Speaker 3: like that was only a couple of years ago. But
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  Speaker 3: that's a lot.
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  Speaker 2: It was a lot, a lot, It was a lot.
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  Speaker 3: That's a lot of hours. I'm just like in my
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  Speaker 3: head trying to do some quick maths, but my friend,
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  Speaker 3: it is too early for that, that is okay.
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  Speaker 2: I was working in retail on Sundays, so I was
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  Speaker 2: getting the really good loading rates there, and then I
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  Speaker 2: was doing Saturday, my favorite.
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  Speaker 3: Oh my gosh, it was so good at your workplace.
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  Speaker 3: Did everyone kind of go, oh, I'm always free for Sundays.
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  Speaker 2: Yes, and public holidays always the days. And I was
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  Speaker 2: spending a lot of money, so a lot of food,
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  Speaker 2: a lot of like clothes, and just blowing it. And
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  Speaker 2: so it got to last year, so my final year
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  Speaker 2: of UNI, and one of my friends just joked about
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  Speaker 2: how cool it would be to have more disposable income
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  Speaker 2: once we finished UNI, and that kind of had me thinking.
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  Speaker 2: It was a bit of like a lightboard moment of
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  Speaker 2: how much money am I really spending on things that
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  Speaker 2: aren't important? And I have the numbers.
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  Speaker 3: So in last year, I did the numbers, so you went,
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  Speaker 3: I found them, thank you. In July of twenty.
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  Speaker 2: Twenty five, which was like peak placement, peak yep, everything,
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  Speaker 2: I spent eight hundred and fifteen dollars on food. Wild,
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  Speaker 2: Like it's just July, just July.
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  Speaker 3: Can I get a little bit more context here? I'm
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  Speaker 3: real pervy, of course. Did you live at home still?
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  Speaker 2: Yes?
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  Speaker 3: So you're still living at home and you still spend
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  Speaker 3: eight hundred and fifteen dollars? Were you contributing to the groceries? No,
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  Speaker 3: I'm not meaning to bury you, but like it's not
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  Speaker 3: getting worse.
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  Speaker 2: I'm burying myself. And I'm not sure some of those
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  Speaker 2: with me like shouting a friend and they transferred back.
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  Speaker 2: I'm not sure how that really looked. I'm just looking
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  Speaker 2: at the raw numbers. Yeah, yeah, but there was a
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  Speaker 2: lot of money. It was a lot.
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  Speaker 3: Like let's also contextualize this, because I don't want people
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  Speaker 3: to feel like, oh my god, like I do something similar,
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  Speaker 3: like is that bad? If you're aware of it and
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  Speaker 3: you're happy with it, pop off, queen, you do you.
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  Speaker 3: But it's more I think you're saying that you were
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  Speaker 3: unaware of this, right. It's just like money falling through
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  Speaker 3: your fingers.
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  Speaker 2: Pretty much, And that's why I think it's something that
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  Speaker 2: so many people experience. And it was just my fingers
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  Speaker 2: exactly right. And I was going out with friends and
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  Speaker 2: probably just spending way too much when I didn't need to.
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  Speaker 2: That's unfortunately not the worst. In July of twenty twenty five,
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  Speaker 2: I did spend seven hundred and twelve dollars on retail.
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  Speaker 3: Do we remove there? We bought? We do not? We
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  Speaker 3: do not?
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  Speaker 2: And that was a bit of a light bulb moment
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  Speaker 2: as well of oh my goodness, what is going on here?
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  Speaker 2: So that's when I did a bit of a deep dive.
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  Speaker 2: I found She's on the money. I found a few
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  Speaker 2: different books and a few different other creators and I've
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  Speaker 2: just been binging binging content across the board.
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  Speaker 3: Welcome, my friend. I am very glad to have you.
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  Speaker 3: I'm so sorry if whatever I told you on my
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  Speaker 3: podcast felt confronting, but I promise it was for the best.
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  Speaker 2: It was it was, And yeah, I pretty much cut
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  Speaker 2: like eighty percent of that spending now. So yeah, I'm
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  Speaker 2: much more conscious.
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  Speaker 3: If we like zoom out right. Other people might hear
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  Speaker 3: that and be like, well, that would feel trash. Yeah,
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  Speaker 3: how does that feel to have, like, you know, gone
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  Speaker 3: from cutting your spending down a percent? Like that kind
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  Speaker 3: of feels wild.
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  Speaker 2: It feels a lot better because I think I was
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  Speaker 2: just knowing that I kind of use UNI as an
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  Speaker 2: out and you know, like a in my early twenty years,
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  Speaker 2: I can spend the money, it will come back, and
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  Speaker 2: it just wasn't meaningful. The fact that I can't remember
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  Speaker 2: what I spent seven hundred odd dollars on in one
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  Speaker 2: month of clothing or eight hundred dollars of food, it
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  Speaker 2: just makes me think, oh my goodness, if I got
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  Speaker 2: to sixty five and I was still doing that, I
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  Speaker 2: would just not be happy with that doesn't align with
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  Speaker 2: my values, as you say, So, yeah, I feel a
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  Speaker 2: lot better knowing that my money is now being spent
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  Speaker 2: in the right places, I guess, and I.
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  Speaker 3: Love that because I think so often when people start
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  Speaker 3: to you know, it gets a little bit confronting. You
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  Speaker 3: feel like you don't have enough money. So obviously in
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  Speaker 3: the back of your mind you start thinking, I probably
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  Speaker 3: should do a budget. But a lot of us are
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  Speaker 3: so evasive of budgeting because you're like, that's going to
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  Speaker 3: feel restrictive. I'm going to have to change my whole life.
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  Speaker 3: It's going to be really confronting, it's not going to
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  Speaker 3: be very nice. But the flip side is actually true.
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  Speaker 3: You start to feel really confident. You start to feel
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  Speaker 3: a lot more free because you're like, wow, I'm actually
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  Speaker 3: in control of the decisions I'm making and not just
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  Speaker 3: making them without thinking, like, yeah, I think it's really empowering.
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  Speaker 3: But sometimes you have to get to that place. So
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  Speaker 3: tell me a little bit about that. Because you know,
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  Speaker 3: you and your friend were talking about, well, how do
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  Speaker 3: we get some more disposable income, and then a light
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  Speaker 3: bulb went off in your head. I have a sneaky
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  Speaker 3: suspicion if you and I had run into each other
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  Speaker 3: even a year before, and I'd said, hey, money direst,
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  Speaker 3: you need to do a budget. How would have that gone?
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  Speaker 2: Like, I knew I should have done a budget. I've
• 9:37
  Speaker 2: got friends who have been budgeting forever and I have
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  Speaker 2: just said, like, it's the best. I know where everything goes,
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  Speaker 2: and I've thought, but I know where it goes. It
• 9:44
  Speaker 2: goes on doing fun things and buying things I like
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  Speaker 2: and going out with friends and whatever else. But it
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  Speaker 2: was just the moment of when I checked that July
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  Speaker 2: statement and saw those numbers, I was like, wait, I
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  Speaker 2: don't remember any of this. I don't know where that
• 9:58
  Speaker 2: came from, and that.
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  Speaker 3: Had my accounts and looked at it, and you go,
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  Speaker 3: it was me.
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  Speaker 2: It was me. And I was like, did I buy
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  Speaker 2: a six hundred dollar dress or something. Nope, it was
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  Speaker 2: just lots of small things. And working in retail, I
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  Speaker 2: think as well, I was around lots of wasteful spending
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  Speaker 2: all the time. People, all of the customers I had
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  Speaker 2: were just buying things because I wanted to, and I
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  Speaker 2: was part of that, and yeah, oh.
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  Speaker 3: Yeah, I totally get that. And you know what, I
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  Speaker 3: even had a moment like that literally yesterday, I was
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  Speaker 3: a bit tired and I was like, oh, I'll check
• 10:30
  Speaker 3: my account. I logged in to my banking ap and
• 10:32
  Speaker 3: I checked my account and I was like, oh, that's
• 10:35
  Speaker 3: not what I thought it would be at because like
• 10:36
  Speaker 3: in my head, I'm like a massive budgeter, as you
• 10:40
  Speaker 3: guys know, but I'm also a little bit of a
• 10:42
  Speaker 3: mental budgeter. So like, I know, because I've been doing
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  Speaker 3: this for so long, on average, in the middle of
• 10:49
  Speaker 3: the month where I'm probably going to sit with my money,
• 10:52
  Speaker 3: and there was much less of it than I thought
• 10:54
  Speaker 3: there was going to be in my spending account. And
• 10:56
  Speaker 3: I was like, what happened? Did somebody get my card
• 10:59
  Speaker 3: and like, you know, you put through an extra charge?
• 11:01
  Speaker 3: And then I looked and I was like, oh, yes,
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  Speaker 3: I've been traveling a fair bit and you know, the
• 11:06
  Speaker 3: airport coffees and the you know, additional stuff that I've
• 11:10
  Speaker 3: been spending on has definitely added up. But I literally
• 11:13
  Speaker 3: jumped to somebody else must have done this. It makes sense,
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  Speaker 3: Victoria Divine, get your stuff together, because it was you
• 11:24
  Speaker 3: the problem was coming from inside the house. The rest
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  Speaker 3: of this month, I'm going to be a little bit
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  Speaker 3: more frugal, but that just means that I'll stay on track.
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  Speaker 3: Like it's not a good or a bad thing, it's
• 11:35
  Speaker 3: just a I've got to be aware of it. Because
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  Speaker 3: if I just am more aware of it now till
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  Speaker 3: the end of the month, I'm going to stay on
• 11:41
  Speaker 3: track and all my goals are still going to be hit. Yes,
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  Speaker 3: I might say no to a few more things. Maybe
• 11:45
  Speaker 3: there won't be a cheeky, sneaky ice latte in my future,
• 11:50
  Speaker 3: but I know next month we'll be back at ground
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  Speaker 3: zero and I'll have my fun money again. I've just
• 11:55
  Speaker 3: got to be a little bit tighter with it this month.
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  Speaker 3: So money Darist. In your letter in you said I
• 12:01
  Speaker 3: now work as a sole trader in Allied Health, which
• 12:05
  Speaker 3: to go out on your own is a really big step.
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  Speaker 3: But you're also able to save two grand a month.
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  Speaker 3: What do you do? How much money are you earning?
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  Speaker 2: Okay, so I'm a speech pathologist, of course you are,
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  Speaker 2: and I sole trade or contract for a clinic. Yes,
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  Speaker 2: And just for a bit more context, I suppose I
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  Speaker 2: was working at this clinic for three years as a student,
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  Speaker 2: very cool, and then under an employee kind of contract,
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  Speaker 2: and then now I'm a sole trader as most of
• 12:37
  Speaker 2: the other speech paths are as well.
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  Speaker 3: I was about to say how did that go? Like,
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  Speaker 3: how do you go from I immediately thought of my
• 12:43
  Speaker 3: own business and was like, well, I employ everyone directly, Like,
• 12:45
  Speaker 3: I don't know why one of my team members would
• 12:48
  Speaker 3: go from being employed directly to sole trader. Yeah, can
• 12:52
  Speaker 3: you explain a little bit about that. Is that how
• 12:54
  Speaker 3: it usually works in your field?
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  Speaker 2: I don't think so. Not many other people that I
• 12:58
  Speaker 2: know do it that way my clinic. It's just seems
• 13:01
  Speaker 2: to be what we do at my clinic. I'm not
• 13:03
  Speaker 2: really sure any more than that we typically only work
• 13:07
  Speaker 2: for school terms. That makes sense, So yeah, I'm not
• 13:10
  Speaker 2: really sure. I was offered to do contracted workers, like
• 13:12
  Speaker 2: to do a full time salary. Yeah, but then I
• 13:16
  Speaker 2: would not get the school holiday breaks off, and I
• 13:18
  Speaker 2: just kind of like the flexibility. I like the yeah.
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  Speaker 3: Yeah, So tell me a little bit more actually, because
• 13:24
  Speaker 3: sometimes when people are listening to money diaries, they go
• 13:27
  Speaker 3: a speech pathologist? What does a speech pathologist do? Can
• 13:31
  Speaker 3: you quickly explain what you do?
• 13:32
  Speaker 2: Yeah? Sure, So I'm a pediatric speech pathologist, and I
• 13:36
  Speaker 2: work with children age three to eighteen, supporting speech development,
• 13:41
  Speaker 2: language developments like vocabulary, sentences, understanding and using language. We
• 13:47
  Speaker 2: also work on social communication skills. Yeah, a lot of
• 13:51
  Speaker 2: other things, but those are my own. Literacy is probably
• 13:53
  Speaker 2: my other main thing as well. So reading and writing
• 13:56
  Speaker 2: very cool.
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  Speaker 3: And I kind of saw that coming because of how
• 14:00
  Speaker 3: well spoken you are. Like the second you and I
• 14:04
  Speaker 3: got on recording, I was like, she's so well spoken,
• 14:06
  Speaker 3: this beautiful interview for me to edit, Like amazing, I'm
• 14:11
  Speaker 3: so glad. How good? So tell me a bit more.
• 14:13
  Speaker 3: You're obviously saving for your first property. You said that
• 14:17
  Speaker 3: your plans are to purchase it next year, But what
• 14:20
  Speaker 3: are your big money goals? Like, what are you currently
• 14:22
  Speaker 3: working towards?
• 14:24
  Speaker 2: So I guess the big big goal is to in
• 14:26
  Speaker 2: my twenties and thirties build a bit of wealth so
• 14:30
  Speaker 2: that then in my forties and fifties I have options.
• 14:33
  Speaker 2: That's kind of the big overall picture. There are a
• 14:36
  Speaker 2: few ways that I want to build that, so I
• 14:39
  Speaker 2: do invest into shares. But I also thought, because I
• 14:43
  Speaker 2: want to move out of home and not be renting,
• 14:45
  Speaker 2: I don't want to move out of home just yet.
• 14:47
  Speaker 2: I'm just not ready. So my thought was to buy
• 14:49
  Speaker 2: a property, rent it out for maybe two or three years,
• 14:52
  Speaker 2: and then move into the house when I'm ready to
• 14:54
  Speaker 2: move out. That was kind of I thinking the budget
• 14:57
  Speaker 2: has not really changed my opinion on that. It did
• 15:01
  Speaker 2: for a little moment with the negative gearing CGT kind
• 15:03
  Speaker 2: of thing, but I still think my main goal with
• 15:08
  Speaker 2: buying a house is to have somewhere to live when
• 15:10
  Speaker 2: I'm ready, So I think that still stands. So I'm
• 15:12
  Speaker 2: still pretty keen on trying to buy a house, which.
• 15:14
  Speaker 3: Is so exciting. That is a big goal, right, So
• 15:18
  Speaker 3: when people say I'm trying to buy a house, that's massive, Like,
• 15:21
  Speaker 3: I feel like we say it so flippantly because we
• 15:23
  Speaker 3: live in Australia and you know, property is the dream,
• 15:26
  Speaker 3: but it is all consuming and overwhelming. But you also
• 15:30
  Speaker 3: said you're investing in shares, and if we then compare
• 15:33
  Speaker 3: that comment to how you grew up, it wasn't a
• 15:37
  Speaker 3: bad thing. But you said I always felt like we
• 15:39
  Speaker 3: had less than we actually did. You know, I spent
• 15:41
  Speaker 3: my childhood and my adolescence fear full of money. I
• 15:44
  Speaker 3: had a scarcity mindset. Like how did you go from
• 15:48
  Speaker 3: being in a scarcity mindset and being kind of scared
• 15:50
  Speaker 3: of money to being like, oh, v I invested in
• 15:53
  Speaker 3: shares and I'm saving for a property. Like those two
• 15:55
  Speaker 3: things feel quite different, right, And it's not just different,
• 15:59
  Speaker 3: it's the tone in which you delivered it. You're like, oh,
• 16:02
  Speaker 3: I just invest in some shares, as though that's the
• 16:04
  Speaker 3: most normal thing in the world, which, babe, I'm trying
• 16:06
  Speaker 3: to normalize that. I wait, normal. But for a twenty
• 16:10
  Speaker 3: two year old woman to say to me, I just
• 16:12
  Speaker 3: invest pop off, How did we get here?
• 16:16
  Speaker 2: I think if it was just about the mindset and
• 16:18
  Speaker 2: the education around it. I think I grew up thinking
• 16:21
  Speaker 2: investing in shares was a boys club and it was
• 16:24
  Speaker 2: almost gambling. I compared it to gambling in my head.
• 16:27
  Speaker 2: My parents have invested in property previously before I was born,
• 16:31
  Speaker 2: but so I always considered property, as I guess what
• 16:34
  Speaker 2: a lot of Australians do, as a safe investment. But
• 16:37
  Speaker 2: then I started learning and listening and reading, and I've
• 16:40
  Speaker 2: seen the stats and I realized, oh, shares are equal to,
• 16:45
  Speaker 2: if not a better investment, more liquid, easy to access,
• 16:49
  Speaker 2: more diversification, all those sorts of things. And so for
• 16:52
  Speaker 2: the invest to think I need to hoard money a
• 16:54
  Speaker 2: little bit, so then like, I've got the money sitting
• 16:56
  Speaker 2: there pretty to make my next investment. But then I'm like,
• 16:58
  Speaker 2: what if this happens. If this happens, What if this
• 17:00
  Speaker 2: happens and then I put that money in there, I
• 17:02
  Speaker 2: don't want to have to then take it out. So
• 17:04
  Speaker 2: I'm still a little bit cautious of how I spend
• 17:08
  Speaker 2: my money and invest my money, but a lot less
• 17:10
  Speaker 2: fear around it now because I know the evidence and
• 17:12
  Speaker 2: the stats.
• 17:13
  Speaker 3: Where did this scarcity mindset come from? Because you said,
• 17:16
  Speaker 3: upon reflection, like we weren't in as bad a position
• 17:20
  Speaker 3: as I thought, Like I was sneaking some cashal er
• 17:22
  Speaker 3: into my parents' wallets. Is it a fair assumption to
• 17:26
  Speaker 3: go you were pretty anxious? Like and is this yeah
• 17:30
  Speaker 3: you know your personality or is this because there was
• 17:33
  Speaker 3: some trauma around money? Like what happened to put you
• 17:36
  Speaker 3: into this like scarcity mindset? If it wasn't quote as
• 17:39
  Speaker 3: bad as it felt?
• 17:40
  Speaker 2: Definitely anxious as a child about it. I think I
• 17:43
  Speaker 2: just overheard parts of conversations growing up and never the
• 17:46
  Speaker 2: whole conversation, and so I would then join the pieces
• 17:49
  Speaker 2: together in my head, but because I was a child,
• 17:51
  Speaker 2: I couldn't join them together properly. So yeah, I think
• 17:55
  Speaker 2: I always just had it in my head of if
• 17:57
  Speaker 2: we can't afford a holiday like a lot of other
• 17:59
  Speaker 2: families can can't afford this thing and this thing and
• 18:02
  Speaker 2: this thing, and that means we would be able to
• 18:03
  Speaker 2: afford the house and those kinds of things. So whereas
• 18:06
  Speaker 2: when I got a bit older, I realized we were
• 18:07
  Speaker 2: never in that bad of a position. We were fine.
• 18:10
  Speaker 2: But it was just the early I guess conversations that
• 18:14
  Speaker 2: I interpreted as a child around money that were just
• 18:18
  Speaker 2: very much we need to hold it.
• 18:20
  Speaker 3: Yeah, fair, fair, And that's why I'm like, hey, what's
• 18:23
  Speaker 3: going on here? Because sometimes our perception is not reality
• 18:26
  Speaker 3: and that can be really hard to come to terms with.
• 18:30
  Speaker 3: Do you feel like you've got more work to do
• 18:32
  Speaker 3: on your mindset like you said before, Like you know,
• 18:34
  Speaker 3: I still feel like I'm kind of holding money or
• 18:36
  Speaker 3: are you like no, no, no, I like that.
• 18:38
  Speaker 2: I do that.
• 18:39
  Speaker 3: It makes me feel secure a kind of a things
• 18:41
  Speaker 3: of both.
• 18:42
  Speaker 2: Like I still think that the more I learn, the
• 18:44
  Speaker 2: more I'll know how to do better. But I still
• 18:47
  Speaker 2: think I'm doing the best I can with the resources
• 18:49
  Speaker 2: I have now, and I'm okay with holding a little bit.
• 18:53
  Speaker 2: I know that the investments that I'm making are going
• 18:56
  Speaker 2: towards a long term plan and that the holding I
• 18:59
  Speaker 2: guess itself, which is really deceiving. But that hoarding is
• 19:02
  Speaker 2: also going tow as a long term plan anyway, so
• 19:05
  Speaker 2: it shouldn't really worry me as much as I think
• 19:07
  Speaker 2: it does. I love that.
• 19:08
  Speaker 3: All right, let's go to a really quick break and
• 19:09
  Speaker 3: on the flip side, I want to talk a little
• 19:11
  Speaker 3: bit more about what your money reality might look like
• 19:14
  Speaker 3: once you move out your investments, because we didn't get
• 19:17
  Speaker 3: into that far enough personal insurance and then best and
• 19:20
  Speaker 3: worse money habits, so guys don't go anywhere. All right,
• 19:27
  Speaker 3: money drives, We are back. You wanted to change your
• 19:31
  Speaker 3: money mindset, and it all started because one of your
• 19:34
  Speaker 3: friends was like, we should work out how to have
• 19:36
  Speaker 3: more disposable income. And I feel like that was a
• 19:38
  Speaker 3: really slippery slope for you to go down because you
• 19:40
  Speaker 3: were like, I want more cash, and then all of
• 19:43
  Speaker 3: it sudden, you're investing in chairs. So tell me how
• 19:48
  Speaker 3: did you make your first investment? What made you pull
• 19:51
  Speaker 3: the trigger? What do we invest in? Tell me your
• 19:53
  Speaker 3: little journey.
• 19:54
  Speaker 2: So I started bulk listening to podcasts. I listened to
• 19:58
  Speaker 2: Shoes on the Money and a few like land Jay.
• 20:00
  Speaker 2: I listened to The Get Rich Slow Club, I listened
• 20:02
  Speaker 2: to Emma Edwards. I listened to heaps of them, and.
• 20:05
  Speaker 3: You've got the squad, you got our stud Yeah.
• 20:08
  Speaker 2: I remember you saying in one of your episodes that
• 20:10
  Speaker 2: you recommend listening to lots of other people to get
• 20:12
  Speaker 2: other perspectives. And I was like, Oh, I can do that.
• 20:15
  Speaker 2: I've got time.
• 20:16
  Speaker 3: So I think it's so funny because I feel like
• 20:18
  Speaker 3: in every other industry people are like, oh my god,
• 20:21
  Speaker 3: I'm the best, like we need like competition. I'm like, no, no, no,
• 20:24
  Speaker 3: They've got the same message as me, just written differently,
• 20:27
  Speaker 3: and you're gonna hear me better if you're hearing the
• 20:29
  Speaker 3: same kind of narrative and you're feeling more confident. Go
• 20:32
  Speaker 3: chat to Tash, go chat to Glennie James, Like they're
• 20:35
  Speaker 3: going to tell you how to put yourself in the
• 20:37
  Speaker 3: best possible position. Like how cool is that?
• 20:39
  Speaker 2: Absolutely? And I listened briefly to some of like the
• 20:42
  Speaker 2: Fire Movement kind of stuff, and it just wasn't really
• 20:44
  Speaker 2: for me. I was like, Oh, that seems a bit
• 20:46
  Speaker 2: intense right now.
• 20:47
  Speaker 3: So I stayed, isn't it is?
• 20:49
  Speaker 2: I sort of stayed in the long term investing kind
• 20:53
  Speaker 2: of realm, And I think I probably listened to two
• 20:57
  Speaker 2: and a half months. I was probably listening and absorbing
• 21:00
  Speaker 2: everything like a sponge. And then I downloaded a platform
• 21:05
  Speaker 2: and I just started adding some things to a watch
• 21:08
  Speaker 2: list and having a bit of a lookout, like doing
• 21:12
  Speaker 2: some more research on some individual stocks and ETFs, I
• 21:17
  Speaker 2: don't invest in individual stocks. And then I read your book,
• 21:20
  Speaker 2: and then I read your other two books, and then
• 21:26
  Speaker 2: it was so funny. I sat around for ages thinking, oh,
• 21:29
  Speaker 2: my goodness, when do I do this? And then one
• 21:30
  Speaker 2: day I just woke up and did it. It was
• 21:32
  Speaker 2: just like I didn't expect it. I just did it.
• 21:34
  Speaker 3: We were like, oh, actually, there is no good time.
• 21:36
  Speaker 3: I can't pick it up. Why not before breakfast exactly?
• 21:39
  Speaker 2: And so I just chucked like six hundred dollars into vas.
• 21:45
  Speaker 2: And then I remember what you said about if you
• 21:47
  Speaker 2: know your first investment isn't the best, it's fine. It's
• 21:50
  Speaker 2: just a bit of a learning experience. And I thought, oh,
• 21:52
  Speaker 2: it's fine.
• 21:52
  Speaker 3: Oh good, And even just the confidence of being like
• 21:55
  Speaker 3: this is fine, it will be fine. Like I think
• 21:57
  Speaker 3: so many of us get analysis, per how that's over
• 22:00
  Speaker 3: making quote the right decision, but like, yeah, not making
• 22:04
  Speaker 3: a decision is arguably worse like BREF for you to
• 22:06
  Speaker 3: make one that you regret and then we fix because
• 22:09
  Speaker 3: we're fixing, than to have never done it and live
• 22:12
  Speaker 3: in this perpetual state of analysis paralysis. Now, how did
• 22:16
  Speaker 3: you pick the platform that you ended up investing on
• 22:20
  Speaker 3: and what was it?
• 22:20
  Speaker 2: So I invest on Perla and I chose Perla because
• 22:24
  Speaker 2: you're going to have to correct my terminology here, but
• 22:26
  Speaker 2: it is a Chess sponsored platform platform.
• 22:31
  Speaker 3: I just liked that.
• 22:31
  Speaker 2: I just kind of liked that if the platform went down,
• 22:34
  Speaker 2: I have access to my shares. I looked into Chasi's,
• 22:37
  Speaker 2: I looked into Perla concept, but I wasn't really wanting
• 22:41
  Speaker 2: to micro invest. I was kind of okay with chucking
• 22:44
  Speaker 2: a little bit more in. I thought, oh, it's okay.
• 22:46
  Speaker 2: I was planning on doing that anyway. And I like
• 22:48
  Speaker 2: the flat brokerage frees yep. I like that very cool.
• 22:52
  Speaker 3: Yeah, that's kind of I love it. So tell me
• 22:54
  Speaker 3: a bit more about VAS. You purchased VAS, that is
• 22:58
  Speaker 3: I would say one of the most popular ETFs in
• 23:01
  Speaker 3: the country at the moment. Was that the gay way
• 23:03
  Speaker 3: to purchasing more VAS? Or did you diversify after that?
• 23:07
  Speaker 2: So I didn't buy any more VAS, so I bought
• 23:09
  Speaker 2: VAS once. It is currently worth five hundred and thirty
• 23:14
  Speaker 2: six dollars. I then bought VDHD because I thought that
• 23:19
  Speaker 2: kind of diversifies me a little bit, and that's one
• 23:22
  Speaker 2: that I suppose regularly invest in as a one ETF
• 23:27
  Speaker 2: diversification sort of thing. And then I bought FAG as well.
• 23:30
  Speaker 2: I was looking into Fame. Yeah, and that one's actually
• 23:33
  Speaker 2: up seventeen percent, so that's exciting.
• 23:36
  Speaker 3: But I'm not gonna lie. My sang ETF shares are
• 23:38
  Speaker 3: look in pretty good right now.
• 23:40
  Speaker 2: Yes, yeh. So I've put this five hundred and thirty
• 23:43
  Speaker 2: six in VAS, there's now five hundred and ninety eight
• 23:47
  Speaker 2: in FAME, and there is two thousand in VIDHG.
• 23:50
  Speaker 3: I love that. A little while ago last year, Brooke
• 23:53
  Speaker 3: from our team and I did an investing podcast together,
• 23:57
  Speaker 3: and you know, I can't wait for her to come
• 23:59
  Speaker 3: to mel And again and we can have this conversation
• 24:01
  Speaker 3: again because we got more into the nitty gritty of
• 24:04
  Speaker 3: mainly what was in her portfolio, but we discussed what
• 24:07
  Speaker 3: was in mind and you've mentioned three that are definitely
• 24:09
  Speaker 3: in my portfolio. But because of the current state of
• 24:12
  Speaker 3: the world, like everything is everywhere, like fang is up
• 24:16
  Speaker 3: because the current state of the economy is supporting that.
• 24:20
  Speaker 3: But another one that both Brooke and I own ISO,
• 24:24
  Speaker 3: which is the Beta Shares Crude Oil Index, And a
• 24:28
  Speaker 3: lot of people aren't very interested in, you know, investing
• 24:31
  Speaker 3: in crude oil, but for me it was like, I'm
• 24:34
  Speaker 3: going to well diversify this portfolio, like I want a
• 24:36
  Speaker 3: little bit of that. It is astronomical what that is
• 24:40
  Speaker 3: up at the moment, just because obviously oil is increasing
• 24:45
  Speaker 3: in price, and therefore your oil ETF is going to
• 24:48
  Speaker 3: increase in price. But it is a very I don't
• 24:52
  Speaker 3: know if the word is fun, but it is so
• 24:54
  Speaker 3: interesting how much more in touch with the economy you
• 24:58
  Speaker 3: become once you start investing, because you see things move
• 25:01
  Speaker 3: and you're like, wait, why is that? And then you're
• 25:03
  Speaker 3: looking into it and the news makes more sense and
• 25:06
  Speaker 3: commentary online makes more sense, and you're like, oh, well
• 25:08
  Speaker 3: that makes sense. Definitely, all of a sudden, I'm an
• 25:11
  Speaker 3: economic expert.
• 25:13
  Speaker 2: Definitely, definitely. And I've got so many ETFs that are
• 25:16
  Speaker 2: in my watch list that I'm just watching plummet and
• 25:19
  Speaker 2: I'm just like, oh, glad I didn't invest in that.
• 25:22
  Speaker 3: What do you mean, glad you didn't invest in that
• 25:23
  Speaker 3: that is going on sale, my friend, and I'm of
• 25:27
  Speaker 3: the current world, and like, I don't know how many
• 25:29
  Speaker 3: times I have to screen this from the roofs stops.
• 25:31
  Speaker 3: Just because it's going down doesn't mean it's a bad investment.
• 25:34
  Speaker 3: It just means it's reflecting what's happening in the economy
• 25:38
  Speaker 3: and we currently have a world war going on.
• 25:41
  Speaker 2: Yes, there's a few that I was looking at that
• 25:43
  Speaker 2: they are just steadily going down over the span of years,
• 25:46
  Speaker 2: So I was like, probably not a good one for that,
• 25:47
  Speaker 2: but I agree, get them on fail.
• 25:49
  Speaker 3: Yeah, I feel like we've got to just, you know,
• 25:51
  Speaker 3: make some decisions that are right for us. But also
• 25:54
  Speaker 3: if you see something going down, I even have to
• 25:56
  Speaker 3: do it. I have to basically slap myself silly and
• 25:58
  Speaker 3: believe Victoria going down is the the end of the world.
• 26:01
  Speaker 3: Like your share portfolio. I hate to tell you this,
• 26:04
  Speaker 3: I'm so sorry, but over your life span, because you
• 26:07
  Speaker 3: are only twenty two, it's going to crash another seven times. Horrible,
• 26:11
  Speaker 3: you retire horrible, seven what the hell? So there are
• 26:15
  Speaker 3: going to be seven times where you're sitting and there's
• 26:17
  Speaker 3: a period of time and your share portfolio is gone
• 26:19
  Speaker 3: to look, let's be honest, a little bit trash and
• 26:23
  Speaker 3: you're gonna have to be okay with that. It's funny though,
• 26:26
  Speaker 3: because I started investing.
• 26:27
  Speaker 2: I think my first investment was either November or December,
• 26:30
  Speaker 2: and so because of the state of the world, I
• 26:32
  Speaker 2: haven't really seen it in green.
• 26:34
  Speaker 3: Oh yeah.
• 26:34
  Speaker 2: So seeing Fang in Green was like, whoa, it can
• 26:38
  Speaker 2: do that.
• 26:39
  Speaker 3: So yeah, so they've always been sitting such a short
• 26:41
  Speaker 3: period of time. I feel like we all deserve that
• 26:46
  Speaker 3: confidence boost when it comes to beginning our investment journey,
• 26:50
  Speaker 3: Like I don't want you to invest, and this happens
• 26:52
  Speaker 3: to so many people, just because there's the reality of
• 26:54
  Speaker 3: the world. Right, you invest, and then a few days later,
• 26:58
  Speaker 3: like your shares start to go down and all your
• 27:00
  Speaker 3: doing is like questioning whether you made the right decision
• 27:03
  Speaker 3: or not.
• 27:04
  Speaker 2: Yes, you did.
• 27:05
  Speaker 3: We need to zoom out, We need to look at
• 27:06
  Speaker 3: a minimum of ten years returns before we actually make decisions.
• 27:10
  Speaker 3: But it feels really hard to do that.
• 27:12
  Speaker 2: It does, it does, And a lot of my friends
• 27:15
  Speaker 2: invest too, and it's so funny. Some friends definitely follow
• 27:18
  Speaker 2: the more individual company go based on vibes kind of thing,
• 27:22
  Speaker 2: and other friends are very like stable ETF and just
• 27:25
  Speaker 2: hearing the conversations around different fears right now is really
• 27:28
  Speaker 2: interesting totally.
• 27:29
  Speaker 3: So yeah, tell me. I think I know the answer
• 27:32
  Speaker 3: to this, and I think that my community already knows
• 27:34
  Speaker 3: the answer to this. But do you have any debt?
• 27:36
  Speaker 2: So how HEX s deet? Yeah? My HEX is currently
• 27:39
  Speaker 2: sitting at thirty thousand, five hundred dollars and I keep
• 27:43
  Speaker 2: a credit card with a six thousand dollar limit, but
• 27:45
  Speaker 2: I pay that off either monthly or fortnightly, depending cool
• 27:48
  Speaker 2: on the vibes.
• 27:49
  Speaker 3: And what type of approach do you have to your
• 27:53
  Speaker 3: HEX day? Is that something where you're like, I'm trying
• 27:54
  Speaker 3: to smash it down? Is that something where you're like,
• 27:56
  Speaker 3: I just let it do its thing? Like, what's your approach?
• 28:00
  Speaker 2: Definitely, I let it do it sing kind of approach.
• 28:02
  Speaker 2: I think the indexation rate this year is like two
• 28:04
  Speaker 2: point nine percent around that mark, so I'm not too
• 28:07
  Speaker 2: worried about it. It'll do it thing awesome.
• 28:09
  Speaker 3: Now, tell me about personal insurances. You are only twenty two,
• 28:14
  Speaker 3: but you did say that you have deep dove on
• 28:17
  Speaker 3: so much of the She's on the Money content, so
• 28:19
  Speaker 3: there's no way you would have avoided me telling you
• 28:22
  Speaker 3: how important it is. Is this something that you've considered
• 28:24
  Speaker 3: or reviewed?
• 28:26
  Speaker 2: Yes, so I was in contact with Skywealsh. I think
• 28:29
  Speaker 2: it was a star.
• 28:31
  Speaker 3: That's perfect, like she's a baby, but she's switched on.
• 28:34
  Speaker 2: I think it's after the episode you released of the
• 28:38
  Speaker 2: money diarist had had cancer and she'd claim it after
• 28:41
  Speaker 2: that episode, and I was like, that's it, that's the
• 28:43
  Speaker 2: final straw.
• 28:44
  Speaker 3: Isn't it terrifying?
• 28:45
  Speaker 2: It is? It was so terrifying, and as a sole
• 28:47
  Speaker 2: trader and I have a bit of medical histories, I
• 28:50
  Speaker 2: was like, Nope, just need to get this sorted. So unfortunately,
• 28:54
  Speaker 2: I'm very good at procrastinating, so I took me like
• 28:57
  Speaker 2: a month to get the forms back to them, but
• 28:59
  Speaker 2: they're currently doing that. I think it's the pre approval
• 29:02
  Speaker 2: stuff now that they've don't get back to me next week,
• 29:05
  Speaker 2: I think with some offers around that.
• 29:06
  Speaker 3: So yeah, Ilio, I feel a little bit guilty, maybe
• 29:10
  Speaker 3: because you just told me you were anxious around money,
• 29:13
  Speaker 3: and then I've been like scaring you about personal insurances,
• 29:16
  Speaker 3: but I'm going to scare you into a better position,
• 29:18
  Speaker 3: So like exactly, I'm sorry about that, but also not
• 29:21
  Speaker 3: sorry if it's going to happen.
• 29:23
  Speaker 2: It's going to happen.
• 29:23
  Speaker 3: I'd rather be protected, So yeah, exactly. Now tell me.
• 29:27
  Speaker 3: I feel like you've probably got some really good money habits,
• 29:30
  Speaker 3: but I feel like they've probably also taken a turn
• 29:33
  Speaker 3: for the better since you really started to knuckle down.
• 29:36
  Speaker 3: What do you think is your best money habit.
• 29:38
  Speaker 2: I think I'm very savvy, and when I did my budget,
• 29:42
  Speaker 2: I guess calibration. I thought of all the things that
• 29:45
  Speaker 2: were costing me a lot of money that I really
• 29:47
  Speaker 2: wanted to keep doing, like having my nails done. I
• 29:50
  Speaker 2: still wanted to go out with friends. I still wanted
• 29:52
  Speaker 2: to keep doing things that make my life fun. So
• 29:55
  Speaker 2: I let how to do my nail with myself. That
• 29:56
  Speaker 2: is now a free thing. Love that I've written a list. Actually,
• 30:00
  Speaker 2: I never buy things not on sale. That's always been
• 30:03
  Speaker 2: the case. My parents taught me that from the start.
• 30:07
  Speaker 2: And I love taking advantage of a good rewards program.
• 30:12
  Speaker 3: Oh me too, queen, Like if I can get some
• 30:14
  Speaker 3: stuff for free, like it just feels so much better.
• 30:17
  Speaker 2: So good the medibank, I think it's lived better. That's
• 30:20
  Speaker 2: a really good program. Love that one. But I'm also
• 30:23
  Speaker 2: I think I'm quite good at using things until they're done.
• 30:27
  Speaker 2: Like I don't buy makeup that I don't need. I'm
• 30:29
  Speaker 2: still using my mum's hair drive from when she was fourteen,
• 30:32
  Speaker 2: so it's so old, so old, but it works, so
• 30:35
  Speaker 2: it's if.
• 30:36
  Speaker 3: It does the job. Like, you actually don't need a
• 30:39
  Speaker 3: new one. I don't want to hear that, but you
• 30:41
  Speaker 3: don't need a new.
• 30:41
  Speaker 2: One, no, And I don't care. And I use my
• 30:44
  Speaker 2: thirty dollars k Mart straightener that I've had forever. Like
• 30:46
  Speaker 2: I'm just so easy going with most things, except obviously
• 30:51
  Speaker 2: going out with friends and everything like that. But that's fine,
• 30:54
  Speaker 2: and I love making things a bit of a game,
• 30:57
  Speaker 2: so I do, like every month, I do a nose
• 31:00
  Speaker 2: Awesome and that's fun. I think it's fun. I'm doing
• 31:04
  Speaker 2: a slightly altered version of the Wardrobe Project where I'm
• 31:07
  Speaker 2: just doing one thing a month that's curved my spending
• 31:09
  Speaker 2: really nicely. And I just love setting little challenges for
• 31:12
  Speaker 2: myself so it keeps it fun.
• 31:14
  Speaker 3: Adore, tell me a little bit more about that, because
• 31:18
  Speaker 3: you know you're not spending on you know, frivolous. I
• 31:22
  Speaker 3: don't know if the right word is frivolous, because I
• 31:24
  Speaker 3: don't want people to feel judged if I call things frivolous,
• 31:26
  Speaker 3: but like, I'm so good at buying a new blush
• 31:28
  Speaker 3: at Mecha when I already have a blush at home.
• 31:31
  Speaker 3: But I also am so aware of how much I
• 31:34
  Speaker 3: spend when I go out, and you're kind of like
• 31:36
  Speaker 3: the opposite. You're like, no, no, no, I was spending
• 31:38
  Speaker 3: money on food and drinks and that all added up.
• 31:41
  Speaker 3: Is that something that has always been the case or
• 31:45
  Speaker 3: is it something that you've always been conscious of because
• 31:47
  Speaker 3: you're like, no, I don't want to spend too much money,
• 31:49
  Speaker 3: Like where were you going when it comes to I
• 31:53
  Speaker 3: guess budgeting for different areas in your life.
• 31:56
  Speaker 2: I never really knew how to use makeup, so I
• 31:58
  Speaker 2: never fell down the rabbit hole in high school of
• 32:01
  Speaker 2: buyance a makeup. Only last year did I learn, And
• 32:04
  Speaker 2: so now I've got like three products I use into
• 32:06
  Speaker 2: my dad. That's fine.
• 32:07
  Speaker 3: I wish that was me. I was on YouTube at
• 32:09
  Speaker 3: like fifteen watching Juicy Star O seven sell me every
• 32:13
  Speaker 3: single mac eyeshadow under the sun, Like, no fifteen year
• 32:16
  Speaker 3: old needs purple eye shadow. They don't.
• 32:19
  Speaker 2: I'm lucky I never fell down that chap. But I
• 32:22
  Speaker 2: also used to swim. I used to swim morning and night,
• 32:25
  Speaker 2: so I was like, why am I going to wear
• 32:26
  Speaker 2: the makeup? Yeah, that's a good point, but I think
• 32:29
  Speaker 2: I love spending time with friends, and usually that's been
• 32:32
  Speaker 2: going out for food, going out, you know, drinking, going
• 32:35
  Speaker 2: on like a little trip or whatever it's been. And
• 32:38
  Speaker 2: so I've tried to sort of rain that in a
• 32:40
  Speaker 2: little bit, you know, whether it's having pre drinks before
• 32:42
  Speaker 2: going out for drinks so that don't need to really
• 32:45
  Speaker 2: buy as many, or whether it's like using eat clock.
• 32:48
  Speaker 2: Oh yeah, it is one that I've been doing lately,
• 32:50
  Speaker 2: love eat club. And sometimes you're saying to a friend,
• 32:53
  Speaker 2: let's just go for a walk instead of let's go
• 32:55
  Speaker 2: out for thirty dollar meal.
• 32:56
  Speaker 3: And it all adds up, it really does, and how
• 32:58
  Speaker 3: frustrating is it.
• 32:59
  Speaker 2: I'm in March of this year, I spent two hundred
• 33:03
  Speaker 2: and twelve dollars on food and going out. So I've
• 33:06
  Speaker 2: had held it good. I've called it, which is nice.
• 33:09
  Speaker 3: And it's really gratifying, isn't it Like when you can
• 33:11
  Speaker 3: start going or I see how this works?
• 33:13
  Speaker 2: It is, I can, and it's so annoying, but it's fine.
• 33:17
  Speaker 3: Very true. Now, money narist, let's take the mood down.
• 33:20
  Speaker 3: What's your worst money habit?
• 33:21
  Speaker 2: So I've got a bit of a list for this.
• 33:23
  Speaker 2: I'm unfortunately always down for a social outing. I will
• 33:28
  Speaker 2: be the first person to suggest bottomless brunch or to
• 33:30
  Speaker 2: suggest going into state something.
• 33:32
  Speaker 3: You're the first one. You're like, I'm the one that's
• 33:34
  Speaker 3: trying to save I'm the one that should be saying
• 33:36
  Speaker 3: go for a walk. Also, did you want to go
• 33:38
  Speaker 3: to bottomless brunch? And then I would be like, yes, queen,
• 33:41
  Speaker 3: I did a.
• 33:41
  Speaker 2: Minute someone mentions going for brunch, I'm like, let's make
• 33:43
  Speaker 2: a bottomless It's fine.
• 33:45
  Speaker 3: Perfect.
• 33:47
  Speaker 2: Once I fall off the wagon, I guess as such.
• 33:50
  Speaker 2: I feel like, for example, in April, my little car died.
• 33:54
  Speaker 2: I had to buy a new car, and I didn't
• 33:57
  Speaker 2: have to, but I wanted to make sure I could
• 33:59
  Speaker 2: still get a trade in on my car, so I
• 34:00
  Speaker 2: just got rid of it before it like died, and
• 34:03
  Speaker 2: so then I bought myself a new car. And once
• 34:07
  Speaker 2: I'd done that, I'd blown the budget. So then it
• 34:09
  Speaker 2: was like I'm still gonna bother with the budget anymore.
• 34:12
  Speaker 3: So that's a bad habit, right, So you just like
• 34:15
  Speaker 3: threw the baby out with the bath water.
• 34:16
  Speaker 2: Yep, pretty much pretty much.
• 34:18
  Speaker 3: Cool. So you were like, I get back on track.
• 34:21
  Speaker 3: No one's going further off track, pretty much. I saw
• 34:24
  Speaker 3: the fork in the road and I ran the other
• 34:26
  Speaker 3: way pretty.
• 34:27
  Speaker 2: Much, Yeah, pretty much. And then I was like, oh,
• 34:30
  Speaker 2: I'll get back on track in May, and I have
• 34:31
  Speaker 2: and it's fine, but okay, okay, yeah, but just for
• 34:34
  Speaker 2: that month, I was like, oh, it's already blown.
• 34:36
  Speaker 3: And what are we going to do in the future, Like,
• 34:38
  Speaker 3: is that something that you're like, I'm super aware of
• 34:40
  Speaker 3: how I do that and I want to change or
• 34:42
  Speaker 3: are you like, nah, yollow.
• 34:44
  Speaker 2: I think it's more about I just didn't even open
• 34:47
  Speaker 2: the budget spreadsheet for April. Once I bought that car,
• 34:49
  Speaker 2: it was over. So I think I just seem to
• 34:51
  Speaker 2: be a bit more disciplined and just open the spreadsheet
• 34:54
  Speaker 2: and once I open it, then I'll do the inputs.
• 34:55
  Speaker 3: And then it's fine, honestly, so relatable.
• 34:58
  Speaker 2: Yeah. I usually come from it in a non judgmental way,
• 35:01
  Speaker 2: like I don't like to judge my spending. It's more
• 35:03
  Speaker 2: just acknowledging it. Yeah, but the car pushed me over
• 35:06
  Speaker 2: the edge.
• 35:06
  Speaker 3: Yeah, okay, okay, perfect. And I have another bad one too.
• 35:10
  Speaker 3: I have another bad habit what car would did we buy? Though?
• 35:12
  Speaker 3: Before you tell me your other bad habit? Like how
• 35:14
  Speaker 3: do we make decisions at twenty two? Like what's the
• 35:16
  Speaker 3: car that are twenty two year old female? Is like
• 35:19
  Speaker 3: looking at I bought myself a Corolla Cross okay smart?
• 35:22
  Speaker 2: Yeah? I liked it because it had quite low ke's
• 35:26
  Speaker 2: it was relatively new, not brand new, but relatively new.
• 35:28
  Speaker 2: It's a bit bigger, good feel economy, and it looks pretty.
• 35:32
  Speaker 3: It does look pretty. And I also heard that you
• 35:35
  Speaker 3: bought a secondhand car? Is that correct? Why didn't you
• 35:37
  Speaker 3: go new?
• 35:38
  Speaker 2: I just think it loses so much value the second
• 35:40
  Speaker 2: you drive it off, and I gone the price of
• 35:42
  Speaker 2: a brand new tweet Coral Across was just not in
• 35:45
  Speaker 2: the budget.
• 35:45
  Speaker 3: So no, and like, no, second you drive it, it's
• 35:49
  Speaker 3: not new anymore. And sorry, that car was new to you,
• 35:52
  Speaker 3: so it's the same to me.
• 35:54
  Speaker 2: And it still smelt new, like it smelled brand new.
• 35:57
  Speaker 3: You still had the new.
• 35:58
  Speaker 2: Yeah, it was so good, so good.
• 36:00
  Speaker 3: I love that, And I also love that when we're
• 36:02
  Speaker 3: trying to be economical savvy women, we're like, you know,
• 36:05
  Speaker 3: we're going to make smart money decisions. We also like,
• 36:07
  Speaker 3: did the cast mole new though, that's like really important too, and.
• 36:10
  Speaker 2: It still has new car warranty on it. So I've
• 36:11
  Speaker 2: justified it a lot of different ways because my old
• 36:14
  Speaker 2: car had so many problems this year that I was
• 36:16
  Speaker 2: just piling money into it. And now to me, it's
• 36:19
  Speaker 2: just better this way.
• 36:20
  Speaker 3: So tell me a little bit more about the other
• 36:23
  Speaker 3: bad money?
• 36:23
  Speaker 2: Have it? You? So?
• 36:24
  Speaker 3: Do you had?
• 36:25
  Speaker 2: I think I'm slightly organized, unorganized chaos. So, for example,
• 36:32
  Speaker 2: I am a soul trader. I don't know how to
• 36:34
  Speaker 2: do my bass. I have only just reached out to
• 36:36
  Speaker 2: an account yesterday. I only just figured out, and you
• 36:39
  Speaker 2: put money away from my hex Like it's kind of
• 36:41
  Speaker 2: unorganized chaos sometimes and I think I just need to
• 36:45
  Speaker 2: learn a bit more about everything and then I'll be fine.
• 36:48
  Speaker 2: But I just kind of sometimes just see what happens.
• 36:50
  Speaker 2: So I think that's is due next week. I don't
• 36:52
  Speaker 2: know how to pay it, do you know what?
• 36:54
  Speaker 3: I don't think anyone likes paying it, Like I have
• 36:57
  Speaker 3: a whole system. I transfer my tax money into it
• 37:00
  Speaker 3: separate account. That way I know it's not mine from
• 37:03
  Speaker 3: the get go. I still don't want to transfer it.
• 37:05
  Speaker 2: I've done the same things. I've got the money set
• 37:07
  Speaker 2: aside for it. It's just the actual like getting it
• 37:09
  Speaker 2: to them. I just don't know how to do it.
• 37:11
  Speaker 3: Because it feels yucky, doesn't it You just don't like
• 37:14
  Speaker 3: I don't.
• 37:16
  Speaker 2: It does, And I think that's that's definitely a bad
• 37:18
  Speaker 2: money habit is that I sometimes just think, oh, that
• 37:22
  Speaker 2: can wait, and then bass is due next week. So
• 37:26
  Speaker 2: bit of an organization. I find budgeting kind of tricky
• 37:29
  Speaker 2: as a soul trader, like I feel like I know
• 37:30
  Speaker 2: where it's going, but I'm not sure how much needs
• 37:32
  Speaker 2: to go.
• 37:32
  Speaker 3: Well, yeah, so that's fair. That's fair, And that's where
• 37:35
  Speaker 3: maybe you could tighten up a little bit on budgeting
• 37:38
  Speaker 3: and work out what that looks like. Are you currently
• 37:41
  Speaker 3: operating from separate business accounts or is all your money
• 37:44
  Speaker 3: just going into your personal accounts.
• 37:45
  Speaker 2: I've got two business accounts, one for GST and the
• 37:47
  Speaker 2: other girl, But to that all I know.
• 37:50
  Speaker 3: I love this Now. You said, look, I'm probably a
• 37:53
  Speaker 3: solid bee, and I feel like you're doing really well.
• 37:56
  Speaker 3: You're so young, you have so much opportunity, Like if
• 37:59
  Speaker 3: I zoom out a little bit, girl, You're gonna be
• 38:02
  Speaker 3: so rich. It's gonna be great. Like I know that
• 38:05
  Speaker 3: life doesn't feel that way right now. But like with
• 38:07
  Speaker 3: the money habits that you have, skip forward, fifty year
• 38:11
  Speaker 3: old you is going to be a baller. It's gonna
• 38:13
  Speaker 3: be amazing. But hy a, B why didn't you rate
• 38:17
  Speaker 3: yourself an A? And what would it take to get there?
• 38:20
  Speaker 3: Do you think?
• 38:21
  Speaker 2: I think more around the consistency of my budgeting. I
• 38:25
  Speaker 2: think I just need to find maybe a bit of
• 38:27
  Speaker 2: a better system. I don't know if my current spreadsheet
• 38:29
  Speaker 2: is really ticking all my boxes, So I think I'll
• 38:32
  Speaker 2: just have to have a bit of a play round
• 38:33
  Speaker 2: with that.
• 38:34
  Speaker 3: Oh, I'll give you my money Masterclass done, I will
• 38:37
  Speaker 3: sell you up with that straight after this, Like if
• 38:39
  Speaker 3: that's all it's going to take, Like, I will set
• 38:42
  Speaker 3: you up with the money master Class. After I'll send
• 38:44
  Speaker 3: you a log in no worries. But like that spreadsheet, girl,
• 38:47
  Speaker 3: if you like a spreadsheet, it does everything for you.
• 38:49
  Speaker 3: All you have to do is put in all of
• 38:51
  Speaker 3: your different numbers, this is what I'm spending v and
• 38:54
  Speaker 3: it will spit out all right, well, this is what's
• 38:56
  Speaker 3: in this account, this is what's in that account. It
• 38:58
  Speaker 3: will tell you the percentages of different areas that you're
• 39:01
  Speaker 3: spending in and of that automation is key here, and
• 39:05
  Speaker 3: then you can just copy from the spreadsheet what's being
• 39:07
  Speaker 3: transferred into different bank accounts and automate that for yourself
• 39:10
  Speaker 3: and then wham bam, thank you, ma'am, you have a
• 39:12
  Speaker 3: whole cash flow system.
• 39:13
  Speaker 2: Stop that. That's awesome, Thank you so much.
• 39:15
  Speaker 3: I'm like, I feel like I am obviously biased. I
• 39:19
  Speaker 3: made it, I wrote the whole thing, but it's pretty
• 39:22
  Speaker 3: damn good. And then there's a whole heap of videos
• 39:24
  Speaker 3: in there as well. Actually side note, I said to
• 39:27
  Speaker 3: my team the other day, I was like, oh, the
• 39:29
  Speaker 3: Money Masterclass. I recorded all those videos so long ago,
• 39:33
  Speaker 3: Like should I re record them? And they were like, no,
• 39:37
  Speaker 3: they're doing really well, like they're good videos. And I
• 39:39
  Speaker 3: was like, oh, like I'm a bit embarrassed, Like should
• 39:42
  Speaker 3: I go watch them? And I went and watched them,
• 39:43
  Speaker 3: and I was like, this guy knew what she was
• 39:45
  Speaker 3: talking about. I'm not re recording those. But there's a
• 39:48
  Speaker 3: lot on like money mindset and thought processes and patterns
• 39:52
  Speaker 3: that I think could also help you know, really solidify
• 39:56
  Speaker 3: how you're feeling and you know, help point you in
• 39:59
  Speaker 3: the right direction, especially at twenty two. So I will
• 40:02
  Speaker 3: organize that for you. If that's all it takes, Thank you,
• 40:05
  Speaker 3: I've got you.
• 40:06
  Speaker 2: I think just a bit more organization around the board
• 40:08
  Speaker 2: and maybe a bit more self control when it comes
• 40:11
  Speaker 2: to going out with friends.
• 40:12
  Speaker 3: Do you know what you're twenty two? If I was
• 40:14
  Speaker 3: saying it twenty two, I wish I had more self control,
• 40:17
  Speaker 3: I wouldn't have got myself into an astronomical amount of
• 40:19
  Speaker 3: personal debt. But also maybe I wouldn't have had as
• 40:22
  Speaker 3: much fun, and then we wouldn't have She's on the money.
• 40:23
  Speaker 3: It's about the journey. Yeah, we're not. She's on the fire,
• 40:26
  Speaker 3: like we're not trying to like save every single dollar
• 40:29
  Speaker 3: and not enjoy the journey. Like I think enjoying the
• 40:31
  Speaker 3: journey is half the fun.
• 40:32
  Speaker 2: True. You're right, very very true.
• 40:33
  Speaker 3: Money Doris, this has been so fun. Thank you for
• 40:36
  Speaker 3: doing a money dairy with me and sharing your you know,
• 40:38
  Speaker 3: thoughts and what you're up to with our community. I
• 40:41
  Speaker 3: think that a lot of people are going to listen
• 40:43
  Speaker 3: to this and be like, wow, I wish I was
• 40:44
  Speaker 3: more like her at twenty two, and that a lot
• 40:46
  Speaker 3: of people in your age are going to be like,
• 40:47
  Speaker 3: oh my gosh, I could do that too. So this
• 40:50
  Speaker 3: is going to be an epic episode.
• 40:51
  Speaker 2: Thank you so much, thank you thanks for having me.
• 40:59
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