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MONEY DIARIES: A Journey to Abundance · She's On The Money

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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud Yr
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Speaker 1: the Order Kerney Whoalbury and a waddery woman. And before
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Speaker 1: we get started on She's on the Money podcast, I
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Speaker 1: would like to acknowledge the traditional custodians of the land
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Speaker 1: of which this podcast is recorded on a wondery country,
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Speaker 1: acknowledging the elders, the ancestors and the next generation coming
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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
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Speaker 1: and the storytelling of you to make a difference for
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Speaker 1: today and lasting impact for tomorrow.
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Speaker 2: Let's get into it. She's on the Money.
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Speaker 3: She's on the Money. Hello, and welcome to She's on Them,
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Speaker 3: the podcast for millennials who want financial freedom. Welcome back
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Speaker 3: to another one of our money daries where I get
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Speaker 3: the absolute privilege of talking to one of our beautiful
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Speaker 3: She's on the Money community members all about their money story.
1:13
Speaker 3: Let's jump straight into it, because this week I got
1:16
Speaker 3: a message and it went a lot like this, Hi,
1:18
Speaker 3: She's on the Money. I wanted to share my story
1:21
Speaker 3: because it's been quite a journey. When I was six,
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Speaker 3: my family immigrated from Ukraine in nineteen ninety five. We
1:27
Speaker 3: stayed with relatives and had nothing when we arrived. Fast
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Speaker 3: forward to meeting my husband at nineteen on a group
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Speaker 3: trip to Israel. We fell in love and have been
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Speaker 3: together ever since. We bought our first home at twenty two,
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Speaker 3: intertwined with family, which makes things quite complex. We renovated
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Speaker 3: and flipped it. We then bought a second home and
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Speaker 3: now have two children. Last week we cut up all
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Speaker 3: of our credit cards and I have never been more proud.
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Speaker 3: I'm listening to every single episode of She's on the Money,
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Speaker 3: and I am obsessed money has Welcome to the show.
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Speaker 2: Thank you.
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Speaker 3: What did you do when you cut up all of
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Speaker 3: your credit cards? Did you actually get the scissors out? Well?
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Speaker 2: I didn't actually cut them. I let my kids cut them.
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Speaker 2: So we've always spoken to them about credit cards, and
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Speaker 2: I said, I actually took photos to post on Monday
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Speaker 2: money wins. I'm meaning to do that, but yeah, I
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Speaker 2: got my kids to cut them up.
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Speaker 3: Make sure you scribble out the numbers.
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Speaker 2: Oh yes, yep, they're in tiny little pieces. And my
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Speaker 2: children loved that.
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Speaker 3: Yeah, okay, all right, I just I don't want any
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Speaker 3: issues if you posted or cut up a card and
2:30
Speaker 3: then it's like well, that's not too hard to put
2:32
Speaker 3: back together, babe.
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Speaker 2: Fair enough, yep.
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Speaker 3: Then we might need to get the credit card back
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Speaker 3: together and then pay it off again, which would just
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Speaker 3: not be the vibe. It's not the vibe. But I'm
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Speaker 3: so excited for you. Were your kids excited about that?
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Speaker 3: Was that something that you communicated with them about, you know,
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Speaker 3: getting out of debt? And what kind of I guess
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Speaker 3: accomplishment that is we have?
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Speaker 2: And I've got a big spreadsheet printed out in color
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Speaker 2: in our laundry that they can access any time, and
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Speaker 2: it shows how much money we've got saved, how much
3:00
Speaker 2: we've got, what goals we're working towards, so they can
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Speaker 2: always refer to that. And they knew that getting rid
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Speaker 2: of the credit card was number one. So that was
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Speaker 2: a really exciting achievement for everybody.
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Speaker 3: Oh my gosh, I love that. I love how open
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Speaker 3: and honest you are about money communication with your kids.
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Speaker 3: Has that always been the way? Has that been something
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Speaker 3: that is new or I guess even how do they
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Speaker 3: take that?
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Speaker 2: It's always been the way that I've chosen to parent
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Speaker 2: with them. I read The Barefoot Investor when I was
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Speaker 2: quite young, and it really helped me start my financial literacy.
3:33
Speaker 2: So I wanted to get my kids a bit of
3:35
Speaker 2: a head start to what I had, And so my
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Speaker 2: son has had his little money boxes since he could
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Speaker 2: do his little chores. He bought his own skateboard when
3:44
Speaker 2: he was four. We ended up emailing Scott Paper about
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Speaker 2: that and he replied saying it was really cool, it
3:50
Speaker 2: was really cute. So he's really proud of himself. And yep,
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Speaker 2: so we've always had conversations around there's a difference between
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Speaker 2: money that we save, money that we can spend, and
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Speaker 2: money that goes to say, charity or you know, whatever
4:01
Speaker 2: else they want to spend their money on.
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Speaker 3: I adore that. I have another perfect question before we
4:06
Speaker 3: actually get into it, because I feel like talking to
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Speaker 3: children about money is a topic in our community that
4:12
Speaker 3: can divide a lot of people. Some people say it's
4:15
Speaker 3: too much responsibility to share something like that with kids,
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Speaker 3: whereas others say, no, absolutely share it all. Obviously you're
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Speaker 3: way more liberal in sharing it all and the journey
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Speaker 3: and your savings and what that looks like. And I
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Speaker 3: think that's amazing. But do you think that there are
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Speaker 3: any negative impacts of that or if parents are wondering
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Speaker 3: how much do I share with my kids, like, what
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Speaker 3: would your advice be?
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Speaker 2: I think what I've noticed a lot of my friends
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Speaker 2: have children that are the same age as mine, So
4:43
Speaker 2: money is a conversation happening in every house because kids
4:47
Speaker 2: will always have wants and needs, and they'll want the
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Speaker 2: latest toy or book or whatever else it is that
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Speaker 2: their friends have, So no matter what, that conversation will
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Speaker 2: come up. I think with it's always been about empowering
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Speaker 2: the children to understand that they are able to save
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Speaker 2: for their goals. So it's never been about I've never
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Speaker 2: framed it as we can't afford that as a family.
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Speaker 2: It's been we're going to save for that. Here is
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Speaker 2: how we're saving for it, here's the steps we're going
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Speaker 2: to take, and this is the date that we expect
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Speaker 2: to get to that. And they've seen us achieved so
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Speaker 2: many money goals that for them it's just a given that.
5:27
Speaker 2: You know, Mum and Dad said, we've got a holiday
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Speaker 2: booked for Queensland next March, and they know that we're
5:32
Speaker 2: going in March because that's how long it will take
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Speaker 2: us to save for the flights. So in March they
5:37
Speaker 2: will go on that flight on that holiday and they'll
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Speaker 2: know that it just took us a little while to
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Speaker 2: get there, but we can still have the power to
5:44
Speaker 2: do what we want. Sometimes it just takes us a
5:46
Speaker 2: bit longer.
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Speaker 3: I love that. I love that so much. Sorry for
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Speaker 3: going on such a tangent at the start of the episode.
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Speaker 3: I feel like I should have been more structure. But
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Speaker 3: when you started talking about kids and money, I was like, Oh,
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Speaker 3: can I be a pair of me because it's really fun.
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Speaker 3: Let's get in to the questions though, because I feel
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Speaker 3: like I would say that's why everybody comes, but they
6:04
Speaker 3: don't come for the questions. They come for the pervy dates.
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Speaker 3: But I want to know if I asked you to
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Speaker 3: give your money habits a grade from A through to F,
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Speaker 3: what would you grade them.
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Speaker 2: I think if I had to grade myself from A
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Speaker 2: to F, I would give myself a B minus. And
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Speaker 2: that's mostly to do with what I've recently realized some
6:25
Speaker 2: limiting beliefs I have around my earning capacity and my
6:28
Speaker 2: ability to grow wealth. So I can see a lot
6:32
Speaker 2: of things that I need to work through and educate
6:35
Speaker 2: myself on. I think at the moment.
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Speaker 3: I love this all right, So next question I've got
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Speaker 3: for you and you gave us a little bit of
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Speaker 3: insight in your message in but I want to know
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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: I was born in a beautiful city called Kiev in Ukraine,
6:55
Speaker 2: and during the day I was raised by my grandparents
6:58
Speaker 2: because my parents were both working for time, but my
7:00
Speaker 2: parents would come over for dinner every night. Right before
7:04
Speaker 2: I turned to the Soviet Union fell and what that
7:08
Speaker 2: meant for our country was a lot of upheaval, especially
7:12
Speaker 2: in the economy, so there was a lot of hyperinflation.
7:16
Speaker 2: I'm too little to remember this, but I've spoken to
7:19
Speaker 2: my parents a lot about it, and they would go
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Speaker 2: to work, and you know, for a whole day's work,
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Speaker 2: they would come home and not be able to afford bread.
7:28
Speaker 2: I remember my parents saying that they could only afford
7:30
Speaker 2: to buy meat for me, like no one else in
7:32
Speaker 2: the family could afford to eat meat. They couldn't afford
7:35
Speaker 2: to buy a car, my mom said, they couldn't afford
7:37
Speaker 2: to buy things like a radio. So economically it just
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Speaker 2: was really really hard, and my grandparents they lost all
7:43
Speaker 2: of their retirement savings. My parents were really fortunate in
7:48
Speaker 2: that we'd already had family that had come out. Immigrated
7:51
Speaker 2: to Australia before us, and they were really kind. They
7:55
Speaker 2: invited us out, and we made the choice to leave,
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Speaker 2: mostly so that we could have some economic stability in future.
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Speaker 2: That was really hard for my parents. They came with nothing.
8:06
Speaker 2: We moved in with my cousins in their two bedroom
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Speaker 2: apartment while we looked for a rental. And I think
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Speaker 2: a lot of my money story is really about what
8:15
Speaker 2: happened at that stage, because we ended up renting my
8:19
Speaker 2: whole childhood. All of our furniture was donated to us
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Speaker 2: by charities like the Salvation Army, and I've got a
8:26
Speaker 2: really clear memory of walking into a room at a
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Speaker 2: charity and I was allowed to pick one toy and
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Speaker 2: that was a really special toy and I've still got
8:34
Speaker 2: that little bear. But it was always a story of
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Speaker 2: working really hard to make ends meet. And it wasn't
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Speaker 2: that we felt poor, because that's not how my parents
8:45
Speaker 2: saw themselves. They worked any job to make money. But
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Speaker 2: we definitely had to be really mindful about what we bought.
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Speaker 2: And I remember my parents always including me in the
8:56
Speaker 2: big purchase discussion. So I don't mean big purchases house,
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Speaker 2: I mean when my parents were ready to change the
9:03
Speaker 2: donated charity couch to a leather couch. We went shopping
9:08
Speaker 2: and it took us a really long time to find
9:10
Speaker 2: the perfect couch because that was a big purchase and
9:13
Speaker 2: they still have that twenty years later. So I was
9:16
Speaker 2: always involved in those discussions. They always wanted to know
9:19
Speaker 2: what I thought, and I could understand that we had
9:20
Speaker 2: a certain budget to work towards. And I also remember
9:25
Speaker 2: my parents were never above any job. They would work anywhere,
9:30
Speaker 2: do anything. My dad worked as a laborer, my dad
9:33
Speaker 2: sold things at VIC market. My mum was a cleaner,
9:36
Speaker 2: and both my parents a university educated. My dad's an engineer,
9:40
Speaker 2: but they weren't able to work in their field when
9:43
Speaker 2: they immigrated here they couldn't speak the language. So I
9:46
Speaker 2: think that's mostly where a lot of my values towards
9:50
Speaker 2: money come from. For me, money provides choice and stability.
9:55
Speaker 2: It means that we at the moment aren't rent because
10:01
Speaker 2: I rented as a child and we had to move
10:03
Speaker 2: around a lot, and I never really had my own space.
10:05
Speaker 2: I had to be super mindful of, you know, putting
10:07
Speaker 2: pictures on the walls. So I grew up. Yeah, I
10:11
Speaker 2: think I don't know how to go past that point.
10:14
Speaker 2: I've got more to say, but I don't know how
10:16
Speaker 2: to link it.
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Speaker 3: That's rare. I feel like that's a really interesting insight
10:22
Speaker 3: as well, because obviously my money story is very different
10:25
Speaker 3: to that. But it's obvious that your parents have instilled
10:29
Speaker 3: such a good work ethic and understanding of money and values.
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Speaker 3: And I don't know, I love that you said, you know,
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Speaker 3: my parents never saw themselves as poor, because I do
10:38
Speaker 3: think that poor when you use it in that type
10:41
Speaker 3: of I guess reference is really about mindset, Like wealth
10:47
Speaker 3: is so much more than just the cash that is
10:49
Speaker 3: in your account. And I just think that you had
10:51
Speaker 3: such a rich childhood, Like it sounds like you were
10:54
Speaker 3: surrounded by so much love and so much happiness and
10:57
Speaker 3: even just so much planning. Like the couch. I love
10:59
Speaker 3: the couch. I love that they still have it, and
11:01
Speaker 3: they probably still think it's like the best investment they've
11:04
Speaker 3: ever made because so much thought went into it, right.
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Speaker 2: So much thought. And then also they involved me in
11:10
Speaker 2: all of the big purchases and they thought a lot
11:12
Speaker 2: about them. But then the flip side of that was
11:15
Speaker 2: they really didn't see certain things as necessary. So I
11:18
Speaker 2: remember I went to year nine camp and the snow
11:21
Speaker 2: and that was just for a couple of days, and
11:23
Speaker 2: my parents thought it was completely unnecessary to buy me
11:25
Speaker 2: snow boots. So I was the only kid at camp
11:29
Speaker 2: that had plastic bags on her feet and runners, I mean,
11:33
Speaker 2: did it work? Though it did not work, But I
11:38
Speaker 2: can see where they were coming from. They thought it
11:39
Speaker 2: was a complete waste of money because we didn't go
11:41
Speaker 2: to the snows So they thought, why would we spend
11:43
Speaker 2: that money on shoes that you will never wear again?
11:45
Speaker 3: You can wear them once. I totally understand that.
11:48
Speaker 2: Yeah, And then also I remember in year nine, everybody
11:51
Speaker 2: got to go to Japan and I was the one
11:54
Speaker 2: kid that didn't. I sat in a classroom for a
11:56
Speaker 2: week alone with a teacher. And I never blamed them
12:00
Speaker 2: for that, but I totally understood that it was beyond
12:04
Speaker 2: what they could afford. It didn't match up with what
12:07
Speaker 2: financially they were ready to do, so I just had
12:09
Speaker 2: to accept that. But it did mean that I missed
12:12
Speaker 2: out on a lot of things growing up.
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Speaker 3: And do you feel like that might have changed the
12:16
Speaker 3: way that you deal with money and your children. So
12:20
Speaker 3: if you feel like you missed out, do you find
12:22
Speaker 3: yourself trying to give them all the experiences you didn't have.
12:27
Speaker 2: Yes, my kids complain and go, oh, why do we
12:31
Speaker 2: have to go to swimming lessons? It's so unfair And
12:35
Speaker 2: I don't want to turn around and say it.
12:36
Speaker 3: Sounds like they're worse. Oh.
12:38
Speaker 2: Yes, I am so sad for you that you are
12:41
Speaker 2: being taken to this beautiful swimming pool with these lovely teachers,
12:45
Speaker 2: and I'm so sorry that I have taken you on
12:47
Speaker 2: holiday here. And I place value on experiences for them
12:53
Speaker 2: and not on if they want things that I don't
12:57
Speaker 2: think they need. I'm happy for them to get them,
13:00
Speaker 2: as long as they work towards that saving gold themselves.
13:03
Speaker 2: I will never say you can't buy that. I'm currently
13:08
Speaker 2: holding my emotional support water bottle with cats.
13:11
Speaker 3: We've all got one.
13:12
Speaker 2: Yes, it was three dollars that kmart. And my son
13:15
Speaker 2: is downstairs with a Frank Green that he purchased.
13:18
Speaker 3: And you're like, absolutely not. I'm going to be very
13:20
Speaker 3: happy with my three dollar drink bottle.
13:22
Speaker 2: I mean it has cats.
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Speaker 3: Don't judge me and my frank Green that I know
13:26
Speaker 3: you can see. But yeah, you're right, mine doesn't have cats.
13:29
Speaker 3: Mine is lacking a lot. And I probably need to
13:31
Speaker 3: do a lot of self reflection at this point as
13:33
Speaker 3: to why I've made the decision.
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Speaker 2: I have made yep, Camart all the way. But that's
13:37
Speaker 2: the thing. So my son said, I would like a
13:39
Speaker 2: Frank Green, and I said, you're welcome to buy whatever
13:42
Speaker 2: you want with your saved money, but you're going to
13:44
Speaker 2: save that yourself, because that doesn't align with what I'm
13:47
Speaker 2: saving for for our family. I can't afford a sixty
13:49
Speaker 2: dollar bottle. You've got to work for it, and then
13:52
Speaker 2: you're going to start at zero.
13:53
Speaker 3: It's fair, It's a lot. It's a lot of money,
13:56
Speaker 3: one hundred percent, especially as a key as well. You're like,
14:01
Speaker 3: you do not need that. You're probably gonna lose it too.
14:04
Speaker 2: Definitely. He's actually it's probably the one thing that he's
14:07
Speaker 2: taken really good care of. And he's also started to
14:10
Speaker 2: have this identity of someone that has the ability to
14:14
Speaker 2: save for a good quality item, whereas I will just
14:19
Speaker 2: be happy to get anything if it's cheaper and it
14:22
Speaker 2: does the job, but he will really put the research
14:24
Speaker 2: and time into it. And he's only nine.
14:26
Speaker 3: I love that. I love that so much. I want
14:28
Speaker 3: to know more about you, though, Can you tell me
14:30
Speaker 3: what do you do for work and how much money
14:32
Speaker 3: do you earn.
14:33
Speaker 2: I work as a radiographer and I started there over
14:39
Speaker 2: a decade ago. I started at the bottom and took
14:44
Speaker 2: X rays and worked in theater and did all of
14:47
Speaker 2: the things on call night shifts. Over time, I've specialized,
14:51
Speaker 2: so now I am a supervisor of a department and
14:55
Speaker 2: I work part time. I wrote down my numbers because
14:59
Speaker 2: I find it really can using to work out my
15:01
Speaker 2: salary because I do salary package. So I'll say it
15:05
Speaker 2: in a couple of different bits. But last year I
15:08
Speaker 2: earned sixty nine thousand dollars before tax, and then because
15:15
Speaker 2: I salary packaged my mortgage, my taxable income came down
15:19
Speaker 2: to forty eight thousand.
15:20
Speaker 1: Oof.
15:21
Speaker 3: That's so good.
15:22
Speaker 2: It is so good. But what I didn't realize was
15:25
Speaker 2: that salary packaging is not great when you have a
15:29
Speaker 2: HEX step. So when I did my tax return, that's
15:32
Speaker 2: when I realized that actually I still had a lot
15:36
Speaker 2: of money to ow because I think they look at
15:40
Speaker 2: my full salary.
15:41
Speaker 1: Yeah.
15:41
Speaker 3: HEX is calculated on pre tax income, so it is
15:44
Speaker 3: not calculated on what you take home, but rather every
15:47
Speaker 3: single dollar that technically comes through your hands, whether it
15:51
Speaker 3: gets paid into tax or not. And that is a
15:54
Speaker 3: sticky point that some people get caught up in every
15:57
Speaker 3: single year. I see it in my community all the time.
16:00
Speaker 3: Come like July when people are doing their tax returns
16:03
Speaker 3: and they were so excited for a return, they're like, Victoria,
16:05
Speaker 3: I found out because I have salary packaging that I
16:07
Speaker 3: actually owe money for HEX. And this was me, Yeah, yeah,
16:11
Speaker 3: bites you in the bottom, it's the worst.
16:14
Speaker 2: Yeah. So I owed money because I hadn't realized that
16:18
Speaker 2: my HEX would be impacted by salary packaging. On top
16:22
Speaker 2: of my salary, I also get a CPD allowance, which
16:26
Speaker 2: is an amount of money that my employer gives me
16:28
Speaker 2: every year towards my education and courses that I want
16:32
Speaker 2: to attend. So I'm doing a Master's at the moment,
16:35
Speaker 2: and I've been putting that towards the fees so that
16:38
Speaker 2: the masters doesn't get added to my HEX to grow that.
16:41
Speaker 3: Oh my gosh, she's doing her masters. She's fancy. So
16:46
Speaker 3: what is that CPD allowance it is now?
16:49
Speaker 2: I'm not certain if it's sixteen hundred a year or
16:52
Speaker 2: if I've used the last two years amount. But this
16:56
Speaker 2: year I was able to use sixteen hundred.
16:58
Speaker 3: Hey, that's pretty good. I like that they're furthering your
17:01
Speaker 3: education and actually giving you cash so you can allocate
17:04
Speaker 3: it towards what you want to do. Tell me a
17:08
Speaker 3: bit more about your masters, So what made you want
17:10
Speaker 3: to do your masters and what's the plan after?
17:14
Speaker 2: I like to learn, and if I don't have a
17:17
Speaker 2: path that's educating me, I tend to just teach myself
17:21
Speaker 2: heaps of random stuff, and so I wanted something that
17:25
Speaker 2: would help me in the future, something that I would
17:28
Speaker 2: be excited to learn. My masters is in public health,
17:31
Speaker 2: so it's teaching me about different health systems and why
17:34
Speaker 2: people make the choices they make, and how we can
17:37
Speaker 2: improve systems around them to support them and making better
17:41
Speaker 2: choices and have better health outcomes. I knew that I
17:44
Speaker 2: wanted to do a master's, but I couldn't afford it
17:48
Speaker 2: for a long time because they usually cost between forty
17:52
Speaker 2: and sixty thousand dollars, and I think that's a lot
17:54
Speaker 2: of money.
17:55
Speaker 3: It is a lot of money.
17:56
Speaker 2: Yeah, I do plan to pay my hex off. But
17:59
Speaker 2: I I did some research and I realized that you
18:02
Speaker 2: can get something called a Commonwealth supported place a CSP.
18:06
Speaker 2: So even though I wanted to do a master's in
18:08
Speaker 2: a certain field. I wasn't set on the exact university
18:12
Speaker 2: or course. What I did was I found the ones
18:17
Speaker 2: that are Commonwealth supported places, and then I looked a
18:21
Speaker 2: little bit further into it. I found the ones that
18:23
Speaker 2: let me do it online and the ones that let
18:26
Speaker 2: me use my degree for credit points, because that also
18:28
Speaker 2: reduces how much I owe at the end. So in
18:31
Speaker 2: the end, I think my masters is going to cost
18:33
Speaker 2: me about eight thousand dollars.
18:35
Speaker 3: What hell, that's ridiculous, like in a good way, ridiculous. Yeah.
18:41
Speaker 2: I was credited for my degree, and I got extra
18:45
Speaker 2: credits because I got an honors degree because it's a
18:48
Speaker 2: Commonwealth supported place. I'm pretty sure it's already half of
18:50
Speaker 2: the amount. And then on top of that, I've been
18:52
Speaker 2: putting my work credits towards that. So it's wild, Like,
18:57
Speaker 2: I'm so happy with that. It's not going to grow
18:59
Speaker 2: my hexs a lot.
19:01
Speaker 3: Oh my gosh, I love this for you. Yeah, I
19:03
Speaker 3: did wonder when you said, hey, I'm getting a sixteen
19:06
Speaker 3: hundred dollars allowance because my masters, so I have a
19:09
Speaker 3: Master's of Business Administration cost me seventy eight thousand dollars
19:13
Speaker 3: on hex and I want to be sick every single
19:17
Speaker 3: time I think of that. I mean a bit of
19:18
Speaker 3: that was international study, so like popped that on there too,
19:23
Speaker 3: because obviously when in Rome. However, when you said, oh yeah,
19:27
Speaker 3: we get sixteen hundred bucks and I'm you know, trying
19:29
Speaker 3: not to put it on hex, I was like, the
19:31
Speaker 3: math isn't mathing? How is she not putting on on hex?
19:34
Speaker 3: Sixteen hundred dollars is not going to cut? But it would,
19:36
Speaker 3: It would almost cover your entire degree. There would be
19:39
Speaker 3: such a small out of pocket. How exciting.
19:42
Speaker 2: It's really exciting. I love it.
19:43
Speaker 3: I adore that for you, all right. I want to know,
19:46
Speaker 3: so you mentioned before that you're going to Queensland for
19:48
Speaker 3: a holiday in March, and the kids know what's going on.
19:51
Speaker 3: You're saving for it and you're planning for it. But
19:53
Speaker 3: I want to know what is your big money goal?
19:55
Speaker 3: What are you guys working towards At.
19:57
Speaker 2: The moment, we have a few money goals them a
20:00
Speaker 2: short term. One of the short term ones was the
20:02
Speaker 2: credit card. So we've ticked that off.
20:04
Speaker 3: That's a big one though, that's a big one.
20:06
Speaker 2: It was really exciting we've had a credit card. Our
20:08
Speaker 2: whole relationship, so it was really nice to cut that off.
20:13
Speaker 2: We both have aging parents and at the moment we
20:17
Speaker 2: have a two story townhouse. All the showers and bathrooms
20:20
Speaker 2: are upstairs, and we've got a powder room downstairs, so
20:23
Speaker 2: we're now saving to put a shower downstairs. We've got
20:27
Speaker 2: my husband's dad living with us a few days a
20:29
Speaker 2: week every week, so I think it would be really
20:31
Speaker 2: nice to make the downstairs kind of accessible for them
20:36
Speaker 2: into their old age. But it's expensive to put a
20:39
Speaker 2: shower in, so that will slow us down.
20:41
Speaker 3: It's so spent on. Oh my gosh, I didn't realize
20:44
Speaker 3: how expensive bathroom renovations were until I did one myself,
20:49
Speaker 3: and oh my gosh, I promise you right now, money,
20:52
Speaker 3: darrest the next house side buye. It'll be done. It'll
20:55
Speaker 3: be done. There won't be any renovations necessary because it
20:58
Speaker 3: just all adds up, and then it's more expn Then
21:00
Speaker 3: someone says, oh, you need this fancy waterproofing and what
21:04
Speaker 3: about the tiles that it adds up. I totally get it.
21:07
Speaker 2: We bought this townhouse for that exact reason. It didn't
21:10
Speaker 2: need anything done. The first house that we bought was
21:12
Speaker 2: a nineteen twenty eight, California and Bungalow. We had to
21:16
Speaker 2: gut everything ourselves, and after we did that, we realized
21:19
Speaker 2: that we needed to raise stump it, redo all the wiring,
21:22
Speaker 2: all the plumbing. And that was before we even did
21:26
Speaker 2: anything exciting. So it does add up. And we had
21:30
Speaker 2: no intention of renovating the townhouse, but now that we've
21:33
Speaker 2: got elderly parents living with us, it's making sense to
21:38
Speaker 2: make it more accessible for them, so we've got to
21:40
Speaker 2: start saving for that. That was an unexpected cost. Long term,
21:44
Speaker 2: I think we'd like to save for an overseas holiday
21:47
Speaker 2: when the kids are a little bit older. That will
21:50
Speaker 2: take us a few years. We are salary packaging a car,
21:54
Speaker 2: so we're saving to pay off the bubble at the
21:56
Speaker 2: end of that. I think that'll be about fourteen thousand
21:59
Speaker 2: dollars a couple of years. And very long term, we'd
22:04
Speaker 2: like to pay our mortgage off before we retire.
22:06
Speaker 3: Yes, so exciting. I feel like paying off your mortgage
22:08
Speaker 3: before retirement is a really good goal because it gives
22:11
Speaker 3: you so much more financial freedom during retirement. And it's
22:15
Speaker 3: not something that a lot of people think about because
22:17
Speaker 3: they go, yeah, we'll just pay it off all the
22:19
Speaker 3: way through and then all of a sudden you get
22:21
Speaker 3: to retirement, you might need to take some money out
22:24
Speaker 3: of super to just extinguish the rest of it. And
22:27
Speaker 3: it just doesn't feel as good. It doesn't feel like
22:30
Speaker 3: you're achieving as much, even though you might have planned
22:33
Speaker 3: it that way. But I think it's a very good goal.
22:35
Speaker 3: All right, let's go to a really quick break, because
22:37
Speaker 3: on the flip side, I have so many more questions
22:40
Speaker 3: for you. Don't go anywhere, All right, money diars, We
22:48
Speaker 3: are back, and I want to know a bit more
22:49
Speaker 3: so before the break, you said that you've got some
22:51
Speaker 3: aging parents. Obviously, one of your goals is to put
22:54
Speaker 3: a bathroom or a shower downstairs so that it can
22:57
Speaker 3: kind of be a bit self contained and older parents
23:00
Speaker 3: don't have to go up and downstairs. Moving forward, what
23:04
Speaker 3: does that caregiving role look like? I guess for your
23:07
Speaker 3: partner and for you, does it look like, you know,
23:10
Speaker 3: your partner's dad moving in full time? Does it look
23:14
Speaker 3: like your parents moving in full time? Like? What does
23:17
Speaker 3: that look like?
23:18
Speaker 2: That's a really good question, and that's something we've been
23:20
Speaker 2: speaking a lot about. My in laws have just bought
23:24
Speaker 2: a couple of acres pretty far from where we live,
23:27
Speaker 2: a few hours away, so I don't anticipate them moving
23:31
Speaker 2: into our home. But at the moment, it just makes
23:34
Speaker 2: sense for them to live with us because they're still
23:36
Speaker 2: working in the city. I would expect one day my
23:40
Speaker 2: parents to possibly want to move in, and even if
23:43
Speaker 2: it's not full time, to come and stay with us
23:46
Speaker 2: when they need help. I grew up in a multi
23:49
Speaker 2: generational family. I believe that if we've got room for
23:52
Speaker 2: anybody in our home, they're welcome to use it. But
23:54
Speaker 2: I just want to make sure that that's really comfortable
23:57
Speaker 2: and accessible for them. So I think long term, I
24:01
Speaker 2: just want to have everything ready, and should they need
24:04
Speaker 2: in illness or in health to come and stay with us,
24:06
Speaker 2: I want them to just know that that's there for them.
24:09
Speaker 3: Oh I love that. I love that so much. It's
24:12
Speaker 3: interesting as well, because I feel like I've got a
24:15
Speaker 3: couple of friends who are Ukrainian and that's very common
24:18
Speaker 3: to have parents move in with them, and it's kind
24:20
Speaker 3: of like expected, whereas in the Australian culture it's not
24:24
Speaker 3: as expected. I feel like often we pum off our
24:27
Speaker 3: parents and like I would love for my parents to
24:29
Speaker 3: live with me. That's always been something that I have
24:31
Speaker 3: said to them. I'm like, yeah, one day I'll chuck
24:34
Speaker 3: you in the granny flat out the back and then
24:35
Speaker 3: you can come and look after my kids. And like,
24:37
Speaker 3: it's one of those things that I think would be
24:39
Speaker 3: so special, but it's not the way everybody sees it.
24:43
Speaker 3: Have you and your partner always been on the same
24:44
Speaker 3: page about this idea of multi generational households.
24:48
Speaker 2: We've been really open and flowed about it the whole time.
24:52
Speaker 2: My husband's one of six kids, he's the second oldest.
24:55
Speaker 2: He's very much a caregiver, and even choosing to have
24:58
Speaker 2: kids in our twenties was such a wild choice compared
25:01
Speaker 2: to our friends who were all going to Europe and whatever.
25:05
Speaker 2: I can't even name it because I didn't go clubbing
25:07
Speaker 2: when I was younger. Yeah, I think we've always moved
25:10
Speaker 2: in and out between their homes when we've needed to.
25:12
Speaker 2: We've been really privileged that they have the same attitude.
25:15
Speaker 2: So when we were renovating our home, we moved into
25:18
Speaker 2: a spare bedroom in his parents' house and we lived
25:21
Speaker 2: there for a couple of years while we were putting
25:24
Speaker 2: all of our money into the renovation. And we're kind
25:28
Speaker 2: of giving back now, so they're welcome to come stay
25:30
Speaker 2: with us if they need to.
25:31
Speaker 3: I love that so much. You mentioned before that you
25:33
Speaker 3: had kids in your early twenties and that was a
25:36
Speaker 3: decision that you and your partner made. In your letter
25:38
Speaker 3: into Us, you said I met my husband when we
25:40
Speaker 3: were nineteen on a group trip to Israel. How old
25:43
Speaker 3: were you when you decided to have babies, like, and
25:45
Speaker 3: what type of decision was that was at hard?
25:48
Speaker 2: It wasn't hard. I think the way that I was raised,
25:51
Speaker 2: everyone in my culture has kids really young. I've got
25:54
Speaker 2: cousins or their children are the same age as mine,
25:57
Speaker 2: if not older. Actually, my husband when I was eighteen
26:01
Speaker 2: i finished high school. I thought I'm free, I'm going
26:04
Speaker 2: to go travel the world. And then I went overseas
26:07
Speaker 2: two weeks later met him and that was it. Sold,
26:11
Speaker 2: sold done. We did long distance for four years, so
26:14
Speaker 2: while I was doing Renis, I was working part time
26:17
Speaker 2: so I could pay for flights. We flew back and
26:19
Speaker 2: forth every month, Melbourne to Brisbane. It's been a long ride.
26:24
Speaker 3: Oh my gosh, but that is so exciting and so wholesome.
26:27
Speaker 3: I actually love when I get to ask people like, oh,
26:30
Speaker 3: when did you decide to have babies, because even in
26:32
Speaker 3: my thirties now I think about having children, I'm like,
26:36
Speaker 3: what are people going to think about this teenage pregnancy
26:38
Speaker 3: I'll have.
26:38
Speaker 2: Oh, that's right.
26:39
Speaker 3: They will definitely think that's really irresponsible of me. Even
26:42
Speaker 3: though I am married owner house and my husband and
26:45
Speaker 3: I have both spoken openly about wanting children for a
26:48
Speaker 3: very long time, I still feel like that's really irresponsible,
26:51
Speaker 3: even though it's not.
26:53
Speaker 2: I think for me, it's always been this really clear
26:56
Speaker 2: vision where I wanted to have them young so that
26:59
Speaker 2: they could experience life with me for as long as
27:03
Speaker 2: they could. So I wanted to go on holidays with them,
27:07
Speaker 2: and I wanted to grow up with them. And I
27:08
Speaker 2: think I've been really lucky to do that.
27:10
Speaker 3: I love that. I love that so much. All right,
27:13
Speaker 3: let's get back to money. I want to know, do
27:15
Speaker 3: you have any investments? If so, what are they? If not,
27:19
Speaker 3: why not? And when I have my.
27:21
Speaker 2: Super I checked it the other day. It's at sixty
27:25
Speaker 2: nine thousand, which I'm pretty happy with.
27:28
Speaker 3: That is very exciting.
27:29
Speaker 2: It is exciting. But I've just written a big assignment
27:32
Speaker 2: about the super gender gap and I got really fired
27:35
Speaker 2: up about it, and then I looked at how much
27:37
Speaker 2: my husband has and it is way more. So I
27:41
Speaker 2: would love to grow mine. I called my salary Sacrifice
27:44
Speaker 2: company the other week, and I'm going to start making
27:47
Speaker 2: extra contributions because I'd like to pump it up. I
27:50
Speaker 2: want to use all the compounding that I can while
27:51
Speaker 2: I'm young, and I've got a shares Us account. I
27:56
Speaker 2: used the Sheese on the money code to sign up,
27:59
Speaker 2: and I invested one hundred dollars into a lithium company
28:04
Speaker 2: just to see what that's like. And now I have
28:08
Speaker 2: thirty six dollars.
28:09
Speaker 3: Oh my gosh, but lithium. Where did that, I guess
28:13
Speaker 3: Idea come from, because obviously she's a little bit temperamental.
28:18
Speaker 2: Didn't realize how temperamental. How to look at Chasy's and
28:21
Speaker 2: it said risk profile seven, and I thought.
28:23
Speaker 3: Yolo, go harder, go home, Go harder, go home.
28:26
Speaker 2: Which has always been my attitude. Anyway, if you're going
28:28
Speaker 2: to do it, you just do it. I think I
28:31
Speaker 2: listened to one episode of Millennial Money and they were
28:34
Speaker 2: talking about call Lithium, and I just was like, done, yep,
28:38
Speaker 2: that's my inn right.
28:39
Speaker 3: No worries. I'm gonna have to have a good chat
28:41
Speaker 3: with Gloody James Can I have to let him know
28:43
Speaker 3: that that was a terrible option.
28:45
Speaker 2: It was. I literally every time I open it, I
28:47
Speaker 2: just watched the graph go lower. It's just a very
28:50
Speaker 2: steep down. But i haven't sold any of my shares,
28:53
Speaker 2: so I'm just going to hang in there and one
28:55
Speaker 2: day that little share will climb.
28:58
Speaker 3: I feel like that is definitely what I guess the
29:01
Speaker 3: advice would be is to sit and wait and see
29:04
Speaker 3: when it climbs back up, and potentially not advice, but
29:08
Speaker 3: potentially considered disposing of it when you're breaking even and
29:12
Speaker 3: maybe pick a more stable asset.
29:15
Speaker 2: Yep.
29:15
Speaker 3: Has that given you anxiety going straight into charess and
29:19
Speaker 3: picking an asset that kind of just went straight down?
29:22
Speaker 3: And you were like, Oh, I don't know if I'm
29:24
Speaker 3: very good at this investing thing, or has it scared
29:27
Speaker 3: you off, or has it made you feel more empowered
29:29
Speaker 3: or educated? Or I guess where are you at with
29:31
Speaker 3: your mentality for investing now?
29:34
Speaker 2: When I bought my shares, I felt like coin of
29:37
Speaker 2: the world. They were heading up. I was showing my kids,
29:40
Speaker 2: I was going, look at this, I've made twelve dollars.
29:42
Speaker 2: This is the best day of our money. Money win
29:45
Speaker 2: and then it just plumitted. It hasn't given me anxiety.
29:51
Speaker 2: I've listened to so many of your podcasts, and it's
29:54
Speaker 2: about time in the market, not timing the market. So
29:57
Speaker 2: I've just decided to hang in there, and it's fun
29:59
Speaker 2: to open that and watch it. It's really good practice
30:02
Speaker 2: watching it go downhill one hundred percent. It is. I
30:05
Speaker 2: expect one day to see that happening with bigger investments
30:08
Speaker 2: that I have, So it's just mentally preparing me for
30:12
Speaker 2: when I've got money to invest more.
30:14
Speaker 3: Love all right, tell me about debts. I know you
30:17
Speaker 3: have a mortgage that you haven't paid off. What does
30:21
Speaker 3: that look like? And what other debts have you got.
30:23
Speaker 2: The earliest step that I got was by HEX, and
30:26
Speaker 2: that is sitting at twenty nine thousand. It was a
30:31
Speaker 2: little bit lower until I got indexed at seven percent,
30:34
Speaker 2: so that's pushed it up again. Yes, so all of
30:38
Speaker 2: the stuff that I paid off kind of came back.
30:41
Speaker 3: Yeah, thankfully that was the ones off and hopefully indexation
30:44
Speaker 3: next year is much lower so it doesn't sting nearly
30:47
Speaker 3: as much.
30:48
Speaker 2: YEP. On top of my HEX, we took out a
30:51
Speaker 2: salary packaged car loan because we couldn't afford to buy
30:55
Speaker 2: a bigger car, but we had completely outgrown our little
30:58
Speaker 2: hatchback and we were tired of telling the kids they
31:01
Speaker 2: can't bring their bikes and we can't go on holidays
31:03
Speaker 2: because we just could not fit anything in that little car.
31:07
Speaker 2: We have a couple of years left to pay that off,
31:10
Speaker 2: and I think that would be fourteen thousand dollars as
31:12
Speaker 2: a bubble when that time runs out, and then our
31:15
Speaker 2: biggest debt is our mortgage. But we have about fifty
31:19
Speaker 2: percent equity.
31:20
Speaker 3: Now, so oh my gosh.
31:22
Speaker 2: Yeah. Because we flipped our house, we ended up having
31:27
Speaker 2: a lot of money to put down when we bought
31:30
Speaker 2: our townhouse, and also we chose to go many suburbs
31:34
Speaker 2: out from where we were because we wanted to make
31:37
Speaker 2: our money go further and we knew we wouldn't be
31:40
Speaker 2: buying again for a long time, and townhouses have gone
31:44
Speaker 2: up in value, so we've been really lucky. But I
31:47
Speaker 2: have to say, when we bought our home to renovate,
31:51
Speaker 2: we actually had to buy it with my husband's parents
31:54
Speaker 2: on the mortgage on the title, and I hadn't realized
31:58
Speaker 2: at the time that when you want to buy someone out,
32:00
Speaker 2: you actually have to pay stamp duty do and you've
32:03
Speaker 2: got to pay them out at market value. So we
32:05
Speaker 2: actually ended up I don't want to say losing a
32:08
Speaker 2: lot of money, because we wouldn't have bought without their help.
32:10
Speaker 3: But it wasn't the situation you'd envisaged.
32:13
Speaker 2: That's right, and it really slowed us down in selling
32:16
Speaker 2: because it took such a long time to buy them out.
32:19
Speaker 2: We would have moved a long time before that, but
32:21
Speaker 2: we we're just restricted by the steps we had to
32:24
Speaker 2: take first.
32:25
Speaker 3: Yeah, fair, and it's always good to discuss that upfront.
32:29
Speaker 3: I don't know the conversations you had before that, but
32:31
Speaker 3: if you were about to do something like that, I
32:33
Speaker 3: would say, please sit down with a good mortgage broker.
32:36
Speaker 3: I mean, I know some are Zella money, but please
32:38
Speaker 3: sit down with a good mortgage broker and go, well,
32:40
Speaker 3: what are the pros and cons of this? If you know,
32:42
Speaker 3: my parents go on the mortgage, what are my exit strategies?
32:45
Speaker 3: How will that work? So that it can all be
32:47
Speaker 3: mapped out. Because as much as it sounds like sunshine
32:51
Speaker 3: and roses at the start, and even if everyone's on
32:53
Speaker 3: exactly the same page, there are legalities about it, like
32:55
Speaker 3: no one wants to pay stamp duty twice and that's
32:58
Speaker 3: unfortunately what you had to do. Obviously, it got your
33:01
Speaker 3: bit ahead, but it wasn't the pathway that you thought
33:04
Speaker 3: it was going to be. And I think that the
33:05
Speaker 3: best thing in these circumstances is to be super educated
33:09
Speaker 3: and on top of what that means and how that works,
33:11
Speaker 3: because I'm not saying it would change your decision, but
33:14
Speaker 3: it could potentially change how you make that decision, or
33:17
Speaker 3: when you make that decision, or what those timelines look like.
33:20
Speaker 3: And I think that everybody deserves to have that upfront.
33:23
Speaker 3: So make sure if you're thinking about it, not necessarily
33:27
Speaker 3: you money direct, but people who want to learn from this,
33:30
Speaker 3: you actually have a really good conversation with a mortgage
33:32
Speaker 3: broker who can do all the numbers for you and explain, okay, cool,
33:36
Speaker 3: Well if you disposed of it, here, here's what stamp
33:38
Speaker 3: duty would look like, Here's what it would cost to
33:40
Speaker 3: buy them out. Here's what your mortgage repayments would look
33:42
Speaker 3: like after you do buy them ount if you've got
33:44
Speaker 3: enough equity, and all of that other fun stuff. So
33:47
Speaker 3: I think it's yeah, it's a very important thing to happen.
33:51
Speaker 3: But you now have your actual town house that you
33:54
Speaker 3: love and have fifty percent equity in, so it's not
33:56
Speaker 3: like you're doing badly, my friend, I'm really.
33:58
Speaker 2: Happy with how we're doing. We wouldn't have afforded the
34:01
Speaker 2: mortgage and our other home after we brought his parents out.
34:04
Speaker 2: It pushed it up so high that our hands were tired.
34:07
Speaker 2: We would have had to sell it either way, and
34:10
Speaker 2: at the current interest rate, there's no way we could
34:12
Speaker 2: have service that loan. So we're really lucky at the moment.
34:15
Speaker 2: It's not easy. Every dollar is accounted for, but we're
34:18
Speaker 2: not in a position where we have to sell.
34:20
Speaker 3: Yeah. Fair, all right. I want to know. I feel
34:23
Speaker 3: like you've probably got some very savvy savings tips, but
34:26
Speaker 3: I want to know, what do you think your best
34:28
Speaker 3: money habit is.
34:29
Speaker 2: I think my best money habit is I am open
34:33
Speaker 2: to being uncomfortable to reach my savings goals. It isn't
34:38
Speaker 2: everyone's ideal to move into a little bedroom upstairs at
34:42
Speaker 2: their in laws when they're newly married, but it's the
34:45
Speaker 2: only way that we could renovate a home and build
34:49
Speaker 2: our future wealth. While we were renovating, I took on
34:52
Speaker 2: every on call weekend night shift that I could, and
34:56
Speaker 2: that I would still go after work and scrape paint
35:00
Speaker 2: and rip up carpet and put the hard work in.
35:03
Speaker 2: So I think my best money habit is I'm always
35:06
Speaker 2: thinking about how to set us up for the future.
35:09
Speaker 2: And if that means that we miss out on a
35:11
Speaker 2: holiday now, but long term we're feeling safer than that's
35:16
Speaker 2: something that I'm really happy to do.
35:19
Speaker 3: I love that. Can we flip the narrative, though? Have
35:21
Speaker 3: you got any cheeky or naughty money habits? What's your
35:24
Speaker 3: worst one?
35:26
Speaker 2: I definitely have one, and my husband points this out
35:29
Speaker 2: all the time. I have a joke that my house
35:31
Speaker 2: is a hobby graveyard. I tend to get really excited
35:35
Speaker 2: on hobbyes.
35:36
Speaker 3: Hobby graveyard, yeah, and that sounds really awful, but my hobbies.
35:40
Speaker 3: Have you just got a graveyard in your backyard that
35:42
Speaker 3: we need to like? Do we need to talk about this?
35:45
Speaker 2: Oh my gosh.
35:45
Speaker 1: No.
35:46
Speaker 2: It's more that I get really excited and hyper fixate
35:50
Speaker 2: on something and I decide I'm going to be the
35:51
Speaker 2: best at it, and I'm not just gonna buy like
35:53
Speaker 2: a little cheap keyboard. I bought a piano and guitars
35:57
Speaker 2: when I decided I was going to learn guitar.
36:00
Speaker 3: Okay, this is making a lot more sense. It's full
36:02
Speaker 3: of you have a graveyard for your hobbies that have
36:05
Speaker 3: passed away.
36:05
Speaker 2: That's right.
36:06
Speaker 3: Hobby is not graveyards, no, no, no, I just have
36:09
Speaker 3: a museum of hobbies that I started and I was
36:12
Speaker 3: certain that I would.
36:13
Speaker 2: Love and do them forever. And I've got a sewing
36:16
Speaker 2: machine and a treadmill and a piano and guitars and
36:18
Speaker 2: all sorts of things that were really expensive, and now
36:23
Speaker 2: I just get to smile at them as I walk by.
36:25
Speaker 3: I love that. I love that. So you're saying that
36:27
Speaker 3: they still spark joy. So is it a bad thing? Husband,
36:31
Speaker 3: They do spark joy exactly. Sit down. I love that
36:35
Speaker 3: so much. I feel like I can relate to that.
36:37
Speaker 3: I very much think that I've just got this idea
36:40
Speaker 3: that if I see something on TikTok or if I
36:44
Speaker 3: see something online, I'm like, I could do that. I
36:46
Speaker 3: could be great at that. And then I get it.
36:48
Speaker 3: And obviously you have to get all of the things
36:51
Speaker 3: for it, because you have to go all in, and
36:54
Speaker 3: then yep, you don't use it.
36:55
Speaker 2: Oh, I get all the accessories and I'll never get
36:58
Speaker 2: like the entry level because I'm going to be really
37:01
Speaker 2: good at piano.
37:02
Speaker 3: Exactly. We are very good at the things that we do.
37:05
Speaker 3: I don't know where this audacity comes from, but I've
37:08
Speaker 3: just decided, you know what, I'd probably be good at that.
37:11
Speaker 2: And that's my home. You can just walk around and
37:13
Speaker 2: it's like a tour of all the hobbies that's okay
37:16
Speaker 2: I've picked up and then lovingly stepped away from.
37:20
Speaker 3: If we ever go into lockdown again, I think I
37:23
Speaker 3: might move in with you because I feel like it
37:25
Speaker 3: would be a very well resourced home to have, you know,
37:28
Speaker 3: a little bit of a waytime.
37:30
Speaker 2: It is, and you're very welcome to move in. You
37:31
Speaker 2: can bring your kiddies. I have two cats of my own,
37:34
Speaker 2: thank you, thank you. Yes, I've got a kitten. He's divine.
37:38
Speaker 3: My boys, I'm not. So they're social with each other
37:40
Speaker 3: and with humans. The second you introduce a different pet,
37:43
Speaker 3: they're like, get out. We are the Kings.
37:45
Speaker 2: That's fair, all right.
37:46
Speaker 3: I need to know at the very start of this episode,
37:50
Speaker 3: when I asked you, hey, like, what do you think
37:52
Speaker 3: your money habits would be graded? You gave yourself a
37:55
Speaker 3: B minus and then you said, ah, but that's because
37:58
Speaker 3: I have some self limiting beliefs. I want to know
38:01
Speaker 3: what are those self limiting beliefs and how did you
38:04
Speaker 3: identify them.
38:05
Speaker 2: I think I identified them when I saw jobs come
38:08
Speaker 2: up that I think that i'd be really good at
38:10
Speaker 2: and they pay well, and I instantly felt so uncomfortable
38:14
Speaker 2: about asking for more money and being worthy of earning more.
38:20
Speaker 2: And I think a lot of that comes from being
38:23
Speaker 2: raised in a way that I was always taught how
38:25
Speaker 2: to save money and be really frugal. I was always
38:28
Speaker 2: taught to turn the lights out. We never had the
38:30
Speaker 2: heater on when I was growing up, things like that.
38:32
Speaker 2: But I've never been given the tools to feel comfortable
38:35
Speaker 2: growing my wealth. And I think when I get offered money,
38:41
Speaker 2: I just freak out and I think, no, I've got
38:44
Speaker 2: a salary and it's a safe job, and I've got
38:47
Speaker 2: bills to pay, and I'll just stay here because it's comfortable.
38:50
Speaker 2: And I'd really like to be able to be uncomfortable.
38:53
Speaker 2: I'd really like to be brave and take those risks
38:56
Speaker 2: and know that I'm worthy of earning more.
38:59
Speaker 3: You one hundred percent, like a thousand percent, are so
39:02
Speaker 3: worthy of earning more. I feel like it's so good
39:06
Speaker 3: that you've been able to identify that. It makes me
39:08
Speaker 3: a bit sad because obviously, from my perspective, I'm like, no, no, no,
39:12
Speaker 3: you definitely deserve it, Like, go for that promotion, go
39:15
Speaker 3: for that other job, put yourself out there, obviously within reason,
39:18
Speaker 3: making sure that like everything's okay. But the worst thing
39:23
Speaker 3: someone can say is no, And is that the worst
39:26
Speaker 3: them saying oh no, thank you? There was a better candidate.
39:28
Speaker 3: You go, yeah, no worries. I put my hat in
39:31
Speaker 3: the ring. That's actually a really good thing. I love that.
39:34
Speaker 3: I want to know what steps can you take? So
39:38
Speaker 3: if you wanted to be an A plus? What steps
39:40
Speaker 3: would you have to take to get there?
39:42
Speaker 2: Oh, to get to an A plus? That's totally thrown me.
39:47
Speaker 3: Sorry, Oh that's okay.
39:50
Speaker 2: I thought you could be like, what is your what
39:51
Speaker 2: would you give yourself? And I'd be like, oh, maybe
39:53
Speaker 2: a bee?
39:53
Speaker 3: Oh no, no, no, we hard and then I'm gonna
39:56
Speaker 3: make you regrade yourself after sit down.
39:58
Speaker 2: Oh my gosh, Okay, how would I get to A plus?
40:00
Speaker 2: I honestly have no idea. I don't know.
40:04
Speaker 3: I feel like we need to do some inner work
40:06
Speaker 3: on believing in ourselves. My friends. Yeah, because everything you've
40:09
Speaker 3: told me like, I adore it, Like you are obviously
40:12
Speaker 3: so caring and so kind and want to look after
40:15
Speaker 3: your you know, parents and have people move in with you.
40:19
Speaker 3: And your money story is honestly so interesting and I
40:23
Speaker 3: guess complex that I can see why you feel that way.
40:26
Speaker 3: But also look what you've done, Like you're already investing,
40:30
Speaker 3: you are completely across what you have in super you're
40:33
Speaker 3: already talking about adding more so that you don't have
40:35
Speaker 3: such a big gap between you and your husband, Like
40:37
Speaker 3: you're so clear on what your mortgage is and what
40:40
Speaker 3: you know. Salary packaging a car actually looked like and
40:42
Speaker 3: I mean, you're salary packaging your mortgage. So to me,
40:45
Speaker 3: I'm like, she's killing it, like she's doing so well.
40:48
Speaker 3: But obviously you don't feel that way because you know
40:53
Speaker 3: you've got some stuff that you want to work through.
40:54
Speaker 3: And this is one that I don't want to argue
40:57
Speaker 3: with you on because I go, oh, well, that's really valid.
41:00
Speaker 3: Like if you feel like you've got heaps of space
41:03
Speaker 3: to go, then you've got heaps of space to go.
41:05
Speaker 3: And so much of the time a grade is just
41:09
Speaker 3: it's so different for each and every single person. Because
41:12
Speaker 3: I could say, oh, I'm an A plus and people
41:14
Speaker 3: would smile and nod and agree. But I don't feel
41:17
Speaker 3: like I'm an A plus, like I'm good at money,
41:20
Speaker 3: but my gosh, I definitely could be so much better.
41:24
Speaker 3: But from the outside looking in, I think everybody would
41:26
Speaker 3: think I'm incredible, right like where she's on the money.
41:29
Speaker 3: Obviously I must be good with it, and I am
41:31
Speaker 3: in principle, But do what I say, not what I do.
41:35
Speaker 3: I think is definitely more the lesson here, So I'm
41:39
Speaker 3: not gonna argue with your bus. But having heard your
41:42
Speaker 3: story back, having had this conversation, do you want the
41:45
Speaker 3: opportunity to change it?
41:46
Speaker 2: I think I might bump it up to a B.
41:48
Speaker 3: I like that. I feel like that feels a little
41:52
Speaker 3: bit more comfortable, and that's not that far to an
41:54
Speaker 3: A plus, my friend at all. All right, unfortunately that
41:59
Speaker 3: is or we have time. I'm for today, money dires.
42:01
Speaker 3: This has been a pleasure. I have loved learning about you.
42:04
Speaker 3: I have loved learning about your money story and how
42:07
Speaker 3: you grow up and all of the stuff in between.
42:09
Speaker 3: So thank you, honestly, thank you so much. It has
42:11
Speaker 3: been a pleasure.
42:12
Speaker 2: Thank you, Victoria. I listen every morning, so it's going
42:15
Speaker 2: to be really exciting to listen to today's episode when
42:18
Speaker 2: we're done recording.
42:19
Speaker 3: I can promise you that when you listen to it back,
42:21
Speaker 3: you're going to be like, Oh, I'm an as. Now
42:24
Speaker 3: you're going to upgrade yourself again.
42:25
Speaker 2: I promise.
42:32
Speaker 3: The advice shared on She's on the Money is general
42:34
Speaker 3: in nature and does not consider your individual circumstances. She's
42:38
Speaker 3: on the Money exists purely for educational purposes and should
42:42
Speaker 3: not be relied upon to make an investment or financial decision.
42:45
Speaker 3: If you do choose to buy a financial product, read
42:48
Speaker 3: the PDS TMD and obtain appropriate financial advice tailored towards
42:52
Speaker 3: your needs. Victoria Divine and She's on the Money are
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