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MONEY DIARIES: The MUST listen to Single Mum of 2! · 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 through.
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Speaker 1: As this podcast is about connecting, empowering, knowledge sharing and
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Speaker 1: the storytelling of you to make a difference for today
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Speaker 1: and lasting impact for tomorrow.
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Speaker 2: Let's get into it.
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Speaker 3: She's on the Money, She's on the Money. Hello, and
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Speaker 3: welcome to She's on the Money, the podcast for millennials
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Speaker 3: who want financial freedom. Welcome back to another one of
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Speaker 3: our money diaries where we get to talk to one
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Speaker 3: of how incredible She's on the Money community members all
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Speaker 3: about their money story.
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Speaker 4: So let's jump straight.
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Speaker 3: Into it, because this week I got a little message
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Speaker 3: and it went like this, Hi, Victoria, I'm a gen
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Speaker 3: X single mother of four two Gen Z kids, two
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Speaker 3: for kids, and I'm in the top one percent of
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Speaker 3: income earners according to Forbes.
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Speaker 4: But I'm still struggling due to the cost of.
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Speaker 3: Living and no financial literacy, that is until she's on
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Speaker 3: the money, which is turning my life around and setting
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Speaker 3: my kids up for success.
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Speaker 4: Money Darist, welcome to the show.
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Speaker 2: Thank you very much. I'm glad to be here.
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Speaker 4: I'm so excited.
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Speaker 3: As you guys know, I read those for the first
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Speaker 3: time live on the show, so I never know what
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Speaker 3: to expect, but oh my gosh, I'm so excited. I
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Speaker 3: want to hear so much more about this journey. Maybe
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Speaker 3: because I'm really self absorbed, I'm not sure. But let's
2:00
Speaker 3: start off with the same question. I always ask Moneyed Diarist,
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Speaker 3: what grade would you give your money habits if I
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Speaker 3: asked you to give them a grade from A through
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Speaker 3: to F.
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Speaker 2: Well, I would actually give myself a C, because even
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Speaker 2: though I am a high income earner, that hasn't always
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Speaker 2: been the case. And I certainly, you know, have only
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Speaker 2: really just learned how to deal with that money in
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Speaker 2: the very It probably only in the last twelve months.
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Speaker 2: So I now know a lot more and I'm definitely
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Speaker 2: on upwards trajectory, but I certainly don't have a lot
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Speaker 2: of money behind me, and yeah, I wish i'd learned
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Speaker 2: all about this bit sooner.
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Speaker 4: Oh, I'm so excited to learn more.
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Speaker 3: Let's jump in my favorite question in the entire world,
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Speaker 3: moneyed Diarist. Can you tell me a little bit more
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Speaker 3: about your money story.
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Speaker 2: Yeah, so, I think up until about probably ten years ago,
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Speaker 2: I think I really just ignored money. It was just
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Speaker 2: like to me, it was just air or water and
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Speaker 2: just came in and out and you used it and
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Speaker 2: you didn't think you needed to save it up for
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Speaker 2: later or anything like that. And yeah, I wasn't really
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Speaker 2: motivated by it. You know, my parents want admit to
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Speaker 2: me to be an engineer, but so that i'd have
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Speaker 2: a good income, but I just wasn't interested. I was
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Speaker 2: interested in the environment and science, and so really I
3:12
Speaker 2: just ignored it and I worked. I worked from when
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Speaker 2: I was fourteen, but I always had enough for what
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Speaker 2: I needed and I live within my means, and yeah,
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Speaker 2: it just wasn't something I thought about a whole lot. So, yeah,
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Speaker 2: I've kind of landed where I am just through hard
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Speaker 2: work and default. But it certainly hasn't been, you know,
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Speaker 2: through any real sort of need or want for money.
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Speaker 2: I was really just interested in the work that I
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Speaker 2: was doing. My parents didn't have a lot of money.
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Speaker 2: You know, they worked really hard. It was just me
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Speaker 2: and my sister and we always had enough. But they
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Speaker 2: certainly didn't have any investments or any particular financial literacy
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Speaker 2: that I knew about. I vaguely remember them planning for
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Speaker 2: retirement at one point, but yeah, it was just something
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Speaker 2: we didn't talk about a whole lot, so my focus
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Speaker 2: was really elsewhere.
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Speaker 3: Wow, I'm so excited to hear more about I guess
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Speaker 3: how much that has changed. You have two gen z
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Speaker 3: kids and two fur kids, both have different requirements.
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Speaker 4: Yes, how do you think they approach money?
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Speaker 2: Well, I guess one of the reasons that I thought
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Speaker 2: about coming on Cheese on the Money is because, listening
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Speaker 2: to it, I really wanted to change things for my kids.
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Speaker 2: Both of them are very similar to me, and that
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Speaker 2: they want to I mean, my daughter's keen to work
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Speaker 2: for the UN on human rights and my son doesn't
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Speaker 2: quite know what he wants to do yet. But they're
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Speaker 2: really not motivated by jobs that earn a lot of money.
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Speaker 2: And I've been through a bit of a tough time
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Speaker 2: in the last ten years, and so I really wanted
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Speaker 2: them to be able to do what they wanted without
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Speaker 2: sort of having that pressure, and so now with all
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Speaker 2: the knowledge that I've gained in the last year, basically
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Speaker 2: setting them up for financial freedom very very early. They're
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Speaker 2: only eighteen and sixteen, and yeah, I feel positive about
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Speaker 2: them following their dreams like I have, but without sort
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Speaker 2: of having those money worries behind them. So you're going
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Speaker 2: to love this. But they're actually even though they're only
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Speaker 2: eighteen and sixteen, they pulled ten dollars a fortnite into
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Speaker 2: an investment account and they put ten dollars a fortnight
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Speaker 2: into this super.
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Speaker 4: Oh my gosh, of course they do.
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Speaker 1: Yeah.
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Speaker 2: Yeah, So I explained it all to them and they
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Speaker 2: were both really keen, and yeah, they've kept it up,
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Speaker 2: so I guess yeah, I'm really excited about that, that
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Speaker 2: they'll have that literacy that I never had.
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Speaker 3: This whole time, I love this so much. I'm so
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Speaker 3: excited about this conversation. And I want to know a
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Speaker 3: bit more about I guess you said that money has
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Speaker 3: kind of like been ignored until you know recently, how
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Speaker 3: has that impacted the relationship you have with your kids.
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Speaker 3: Were they like, Mum, why are we talking about money
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Speaker 3: all of a sudden, like we don't want to do this?
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Speaker 3: Or were they really interested in it, or like, how
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Speaker 3: have you? I guess bait and switched them because money
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Speaker 3: could be really boring.
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Speaker 2: Yeah, yeah, look, I guess that the whole impetus for
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Speaker 2: that was a separation, a divorce and separation unfortunately, and
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Speaker 2: so I guess I went from a situation where I
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Speaker 2: could kind of ignore money to I couldn't bury my
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Speaker 2: head in the sand anymore. Separation itself was really difficult.
6:02
Speaker 2: I had to get lawyers involved, and we didn't have
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Speaker 2: a lot of money, and so yeah, it was just
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Speaker 2: all of a sudden being conscious of what was going
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Speaker 2: in what was going out, and I was quite confused, going,
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Speaker 2: I'm I'm this high income manner, and yet I just
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Speaker 2: still don't have any you know, spare money. It all
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Speaker 2: goes on the house and the kids and everything else.
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Speaker 2: And so I guess, yeah, I don't know. I just
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Speaker 2: spoke about with the kids. I mean we did look
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Speaker 2: at the Barefoot investor, you know, ten years ago or whatever,
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Speaker 2: so they had that little bit of intro, but not
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Speaker 2: really much. But then recently been you know, walking them
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Speaker 2: through their investments and everything, and yeah, I think they
6:39
Speaker 2: really kind of understood the whole compound interest and starting
6:42
Speaker 2: now will put them in good stead. So yeah, that
6:45
Speaker 2: sort of worked out with them and the fur kids.
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Speaker 2: They're just two spoiled labradors who get everything they want,
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Speaker 2: but bring me a lot of joy.
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Speaker 3: Yeah, and everything labradors want so snacks. Everybody knows this,
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Speaker 3: But I am the biggest pet person in the entire world.
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Speaker 3: So if I know someone's got pets, I'm like, tell me.
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Speaker 4: About them, Who've got pictures? So we'll get to that later.
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Speaker 4: I woant to know though.
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Speaker 3: You mentioned before that you're in the top one percent
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Speaker 3: of earners according to Forbes.
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Speaker 4: Tell me what do you do for work? How much
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Speaker 4: money do you earn?
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Speaker 2: So I work for the Australian government. I'm in the
7:18
Speaker 2: area of environmental protection and I provide sites advice to
7:22
Speaker 2: lawyers and government decision makers. So that's really my bread
7:26
Speaker 2: and butter of work.
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Speaker 4: That sounds very fancy, let's be honest.
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Speaker 2: Yeah, it's really quite stressful and you have the potential
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Speaker 2: of getting taken to court all of the time. But
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Speaker 2: my job involves, I guess, holding big businesses to account
7:39
Speaker 2: and making sure that they prevent, reduced, and minimize their
7:41
Speaker 2: environmental impacts. So yeah, it's you know, I did used
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Speaker 2: to think that I was very lucky to be in
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Speaker 2: this job. My ex partner used to tell me I
7:50
Speaker 2: was lucky. But I suppose after listening to your podcast
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Speaker 2: and everything, I've kind of gone, well, yes, it is
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Speaker 2: a bit lucky, but also it's.
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Speaker 4: Not really luck though.
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Speaker 2: It's really hard to get here, and I'm really passionate
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Speaker 2: about it, I do, so yeah. Yeah, And now the
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Speaker 2: how much do I earn question? I actually earn over
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Speaker 2: two hundred and fifty grand a year, so it sounds
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Speaker 2: like a lot of money. I do also have to
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Speaker 2: say that about ninety k of that goes in tac
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Speaker 2: so you know, I don't get that part, which is fine.
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Speaker 2: You know, I'm happy to back into health and education
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Speaker 2: in the community and all of that. So, yeah, it is.
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Speaker 2: It does sound like a lot of money. But I
8:26
Speaker 2: did do a little breakdown. I'm not sure how much
8:28
Speaker 2: you want to go into it.
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Speaker 3: Oh no, if you want to go into detail, I
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Speaker 3: am sitting here for the whole time.
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Speaker 2: Please find myself. Was like, where does all this money
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Speaker 2: go go?
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Speaker 4: My friend, I would love to know.
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Speaker 2: Yeah. Yeah, so besides the tags about thirty grander that
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Speaker 2: goes to super so that leaves about one hundred and
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Speaker 2: fifty left. My mortgage is around forty k a year.
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Speaker 2: This is the big one. My groceries so for myself
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Speaker 2: and my two children and my two pets is about
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Speaker 2: out a twenty K year, so that's like a lot.
9:03
Speaker 2: By the way, my daughter is a Celiac, so I
9:06
Speaker 2: feel your grocery pain in that respect. Yes, yell. Everything
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Speaker 2: is twice as much and you get half as much.
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Speaker 3: So yeah, yeah, and it tastes half as bad, like
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Speaker 3: it's not even good.
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Speaker 2: Yeah, yeah, stoddie.
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Speaker 3: Do you know in Italy they actually test from when
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Speaker 3: kids are very little whether they're celiac or not, and
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Speaker 3: if they are, they give you a subsidy to afford
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Speaker 3: their products that are gluten free.
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Speaker 4: Isn't that cool?
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Speaker 2: Yeah, that's amazing, You're like, I would love that. Yeah.
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Speaker 1: I have a.
9:36
Speaker 2: Funny story about that related to child support. But I
9:39
Speaker 2: had to go and do this special extra process to
9:42
Speaker 2: get some of the school kids school fees paid by
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Speaker 2: their dad, and in it they say, you know, do
9:47
Speaker 2: they have any other medical conditions? And I put down
9:50
Speaker 2: that was celiac because I had just incurred a whole
9:52
Speaker 2: lot of expenses. But they decided that they didn't think
9:55
Speaker 2: that that was you know, much more.
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Speaker 4: That's literally a medical condition, so down.
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Speaker 2: Yeah, but they just said no, no, sorry, that doesn't count.
10:03
Speaker 4: Absolutely not.
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Speaker 2: Yeah. It was quite disappointing the way that it fell out,
10:08
Speaker 2: but anyway, it is what it is. My next biggest
10:11
Speaker 2: cost is their school fee. So my kids don't go
10:14
Speaker 2: to like a really fancy private school, but they do
10:16
Speaker 2: go to a Catholic school. So that's about thirteen K
10:20
Speaker 2: a year, and their dad does have to pay some
10:22
Speaker 2: of that through child support.
10:24
Speaker 3: Does he pay like I'm just pervy to know about
10:27
Speaker 3: like the breakup there, does he pay like half or
10:30
Speaker 3: is it less than half? Well, like you the primary
10:32
Speaker 3: breadwinner in that circumstance.
10:34
Speaker 2: Yeah, so I have a lot of info about child support,
10:38
Speaker 2: which in my view doesn't work when the primary care
10:42
Speaker 2: is also the primary financial bringer in it for the family.
10:46
Speaker 2: The way that the system is set up kind of
10:48
Speaker 2: it does really work when you have a person that
10:50
Speaker 2: brings in the most money is not the primary care.
10:52
Speaker 2: But when the same person is that, I feel like
10:55
Speaker 2: it's really unfair. And Luckily for me, you know, I
10:58
Speaker 2: earn a good income, so it's actually okay, but I
11:01
Speaker 2: get really quite you know, frustrated with the system because
11:04
Speaker 2: a lot of the things that happened to me, which
11:05
Speaker 2: I can cope with, I just think of, you know,
11:08
Speaker 2: other women who are not on high incomes and pay
11:11
Speaker 2: the way that payments get delayed and broke it down.
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Speaker 2: It breaks my heart, to be honest, And I've kind
11:15
Speaker 2: of decided that when I'm out of it, because my
11:17
Speaker 2: kids are nearly both eighteen, and then I'm out of it,
11:19
Speaker 2: that you know, I will actually I don't know what
11:22
Speaker 2: do what, but I have worked in governments and maybe
11:25
Speaker 2: there's some I.
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Speaker 4: Love this, I love the passion.
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Speaker 3: I'm so excited about it because I've heard this so
11:29
Speaker 3: many times as well, that it just it doesn't end
11:33
Speaker 3: up falling evenly. No, and while sometimes a few dollars
11:37
Speaker 3: here and there, like, let's be honest, it's not worth
11:40
Speaker 3: arguing over. We're not talking about a few dollars here.
11:43
Speaker 3: We're talking about thousands of dollars difference when you're the
11:47
Speaker 3: primary caregiver and the person who's funding most of it.
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Speaker 2: That's right, And it's not even that. It's like some
11:53
Speaker 2: things are just process based where it's really unfair for
11:57
Speaker 2: the person who is receiving and and I feel like
12:00
Speaker 2: there's such easy fixes, and I know how government policy works,
12:04
Speaker 2: it's really hard to change. But yeah, I do think
12:07
Speaker 2: of other women, and I just think I really like
12:10
Speaker 2: to get onto that and do something.
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Speaker 4: I don't know what to advocate for them. No, that's
12:15
Speaker 4: so kind. I love that. I absolutely love that.
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Speaker 3: I can see where your daughter gets ye, where she's like,
12:20
Speaker 3: not money motivated, but she wants to work with you.
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Speaker 3: And I was like, can't wait to hear what you
12:24
Speaker 3: do for work, babe, cannot wait because the affle does
12:27
Speaker 3: often not fall far.
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Speaker 4: From the tree.
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Speaker 2: Yeah. Yeah, So is.
12:30
Speaker 3: There anything else in that budget? We got to school
12:33
Speaker 3: fees they go to a Catholic school. Thirteen grand a year.
12:35
Speaker 2: Yep. My insurances so I pay and look, I don't
12:39
Speaker 2: know what you would say about this, but I actually
12:41
Speaker 2: pay about ten grand in insurances. So for the whole family,
12:44
Speaker 2: I have health insurance, trauma insurance, TPD, death in income
12:48
Speaker 2: protection because I am the primary incomelately, the family feels
12:52
Speaker 2: right home and contents car insurance and now, of course
12:56
Speaker 2: my daughter has a car as well, so her insurance
12:59
Speaker 2: so insurance sure. The students tank on that a year,
13:02
Speaker 2: which is a lot. I haven't had to claim it,
13:04
Speaker 2: so that's a good thing. But that's what it is.
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Speaker 3: We want insurance to be the biggest waste of money
13:09
Speaker 3: in the entire way.
13:10
Speaker 1: Ran.
13:10
Speaker 3: Yeah, because it means we didn't have to claim on it,
13:11
Speaker 3: and that's a really attractive position to be in. I
13:14
Speaker 3: do want to know, as a high income earner, how
13:17
Speaker 3: did you set up your TPD life and income protection insurances?
13:22
Speaker 3: Is this something that you just set up through SUPER
13:24
Speaker 3: or like what was the plan?
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Speaker 2: Yeah, so I did have it through SUPER initially, but
13:28
Speaker 2: then I went to a financial advisor and she tweaked
13:31
Speaker 2: some of it, so two were still through SUPER, but
13:34
Speaker 2: two we took out. And I do have to go
13:36
Speaker 2: and review it again because it was set up for
13:39
Speaker 2: like in the event something hap to meet, the kids'
13:40
Speaker 2: school fees would still be paid and the more we
13:43
Speaker 2: were still paid and everything. But obviously there's a bit
13:45
Speaker 2: of a change coming up, so with that change, I'll
13:47
Speaker 2: need to review them and yeah, see maybe I'll have
13:51
Speaker 2: to pay less, which would be nice.
13:53
Speaker 3: Which would be really nice, It would be really nice. Yeah, yeah, no,
13:57
Speaker 3: that makes sense. Most financial advisors will split some inside
14:00
Speaker 3: SUPER and some outside SUPER. Yeah, and to I guess
14:03
Speaker 3: stereotype completely most advisors. I do won't want to say
14:07
Speaker 3: most advisors, but you know what I mean when I
14:09
Speaker 3: say that, they'll pick TPD or total and Permanent disability
14:13
Speaker 3: in life insurance to sit inside superannuation, and then they'll
14:15
Speaker 3: pick trauma and income protection to sit outside of superannuation
14:19
Speaker 3: because of the tax differences and also the claiming benefits
14:24
Speaker 3: depending on whether you can claim it inside super Because
14:27
Speaker 3: the interesting thing, just as a side note, because I'm
14:30
Speaker 3: passionate about finance right is if you need to claim
14:34
Speaker 3: on let's say, income protection, the claiming criteria of income
14:39
Speaker 3: protection might be very different to what superranuation is willing
14:43
Speaker 3: to release the funds for. So we've seen it historically
14:46
Speaker 3: where someone might be able to claim on their income
14:48
Speaker 3: protection and it gets paid into their superfund because it's
14:51
Speaker 3: owned by the superfund. All the policy is owned by
14:53
Speaker 3: the superfund, and when they apply to the super fund
14:55
Speaker 3: to have the money let out, it doesn't get led
14:57
Speaker 3: out because it doesn't meet the same criteria. It's all
15:00
Speaker 3: about just protecting you. And if you haven't thought about that,
15:03
Speaker 3: not you personally, but people listening to this, please do
15:06
Speaker 3: because it's.
15:07
Speaker 4: So important to just get the right structure.
15:09
Speaker 3: Actually, in this episode, side note to my gorgeous producer
15:13
Speaker 3: and a Lisa, let's put the contact details for my
15:15
Speaker 3: friend Phil at sky Wealth in the show notes, because
15:19
Speaker 3: that is something that everyone needs to set up properly
15:21
Speaker 3: and get done. And I promise it doesn't cost thousands.
15:24
Speaker 3: It really doesn't.
15:25
Speaker 4: I mean, if you were in two hundred and fifty
15:27
Speaker 4: grand and you have two kids and a lot of insurances,
15:29
Speaker 4: that might cost you ten grand.
15:30
Speaker 3: But that's across all of your insurances, including cur insurance,
15:33
Speaker 3: which is honestly pretty palpable.
15:35
Speaker 4: Let's be honest. Ye yeah, yeah, what have you got
15:39
Speaker 4: next on our line? Next?
15:40
Speaker 2: I have got house maintenance. So this is a thing
15:43
Speaker 2: about being a single parent who works full time. Is firstly,
15:47
Speaker 2: I do get help around the house, you know, for
15:49
Speaker 2: gardening and things like that, cleaning. I just don't have
15:53
Speaker 2: time for it, so I do that. But then also
15:56
Speaker 2: I you know, just yeah, it's not a new house.
15:58
Speaker 2: It's an old house. It's still needs you know, you
16:02
Speaker 2: just I don't know, light bulbs changed, and you know,
16:04
Speaker 2: I had a roof leak and just things like that.
16:06
Speaker 2: So yeah, a lot of just little things like that
16:09
Speaker 2: little costs like that. On that, I've got eight grand
16:12
Speaker 2: on utilities, and then for transport, so I own my
16:16
Speaker 2: own car, but for fuel, bus and train and everything
16:20
Speaker 2: is about six grand a year. So that's myself and
16:22
Speaker 2: the children. Then the next one is kids sport and
16:25
Speaker 2: my sport, which is about six grand, which is expensive
16:29
Speaker 2: for sport, and that's because my daughter is into dancing,
16:33
Speaker 2: which is an expensive sport.
16:35
Speaker 4: Dancing is expensive.
16:36
Speaker 2: And recently in the last few years, which is something
16:39
Speaker 2: I constantly think should I be spending that money on.
16:42
Speaker 2: But my sport, which is its only really just happened,
16:45
Speaker 2: has been horse riding.
16:46
Speaker 4: Hush's expensive.
16:48
Speaker 2: Oh yeah, yeah, yeah, And I don't even own a
16:51
Speaker 2: horse or anything. I just go once a week and ride.
16:54
Speaker 3: Not yet it's a slippery slope. We've had a few
16:56
Speaker 3: horse friends on the show before. Yeah, all let us
16:58
Speaker 3: know how expensive it is.
17:00
Speaker 2: Yep. Yeah. But for me it was a mental health thing,
17:03
Speaker 2: like it was really the only thing that got me through.
17:07
Speaker 2: It's exercise when you don't actually feel like you're exercising.
17:10
Speaker 2: I love animals and I just had a half an
17:12
Speaker 2: hour window where I used to take one of my kids,
17:15
Speaker 2: and I found that in the week. That was just
17:16
Speaker 2: the most peaceful half an hour that I had. So yeah,
17:20
Speaker 2: I am constantly revisiting that, going is that an expense
17:23
Speaker 2: that I really need and it's not, but for my
17:26
Speaker 2: mental health at this point in time, it was. Yeah,
17:28
Speaker 2: it was really really appreciated.
17:31
Speaker 4: I think it's really important as well.
17:33
Speaker 3: Like I get when you add it all up, you go, wow,
17:35
Speaker 3: that's so much. But like, let's be honest, someone adding
17:38
Speaker 3: up their forty five membership, they might absolutely adore it.
17:41
Speaker 3: Ad cost about the same per year, Like we're not
17:43
Speaker 3: talking about a ridiculous amount per year. And I mean
17:48
Speaker 3: you'll probably get less sessions, but they might mean a
17:50
Speaker 3: lot more to you. And having learned a little bit
17:54
Speaker 3: about your money story, like my friend, I think it
17:56
Speaker 3: gets to stay at least for now.
18:01
Speaker 2: So that's sport. And then we've got medical as I said,
18:04
Speaker 2: my daughter's AE ciliac, my son has optical issues. So
18:09
Speaker 2: you know, all of that probably comes to about five
18:12
Speaker 2: K a year. The dogs, actually I've made a mistake before.
18:15
Speaker 2: Their groceries weren't included in my grocery bill. I've got
18:18
Speaker 2: four K year for their groceries and their health stuff,
18:22
Speaker 2: and then the rest of it is like three grand
18:24
Speaker 2: for gifts for my family and friends and the kids,
18:29
Speaker 2: and then there's only about two grand on beauty and
18:32
Speaker 2: makeup and stuff and myself and my daughter, we don't
18:35
Speaker 2: spend much on that at all. And then the last
18:38
Speaker 2: big expense or actually I had one k for coffee
18:41
Speaker 2: and one k for alcohol and one k for entertainment subscriptions.
18:46
Speaker 2: And then the other more complicated one is it about
18:50
Speaker 2: two grand a year. I have a partner who lives
18:52
Speaker 2: in Melbourne, so I'm in a long distance relationship.
18:55
Speaker 4: Ah.
18:55
Speaker 2: Yeah, you've got to travel, So I only pay for airport,
19:00
Speaker 2: parking and taxes because generally I get frequent Flyer points.
19:05
Speaker 4: I was smart.
19:06
Speaker 2: Yes, it's mostly from just using a frequent Flyer credit
19:08
Speaker 2: card for all of my bills. So everything goes on that.
19:11
Speaker 4: Yeah, oh how fun.
19:14
Speaker 2: Yeah, so I have that, and then the rest of
19:17
Speaker 2: it is just you know, whatever's left over for clothes
19:20
Speaker 2: and shoes and tech like phones and AirPods, like the
19:24
Speaker 2: things that you have to pay for for teenagers.
19:25
Speaker 3: So all of that stuff that they need, they really
19:27
Speaker 3: need otherwise they might die.
19:29
Speaker 2: Yeah, exactly, exactly, yep. So that's it. But very recently
19:34
Speaker 2: I now only have just started putting together an emergency
19:37
Speaker 2: fund because even on having a high income like that,
19:40
Speaker 2: I had my garage door break, I had my hot
19:43
Speaker 2: water system break, I had my washing machine break, I
19:46
Speaker 2: had my like we have a swimming pool because I
19:48
Speaker 2: stayed in the family home salt dispenser that broke it.
19:52
Speaker 2: Just you know, I had a year. It all adds up.
19:55
Speaker 4: It all adds up. I've loved this.
19:57
Speaker 3: I feel like this is such a good breakdown because
20:00
Speaker 3: you're right being like, oh, I earned two hundred and
20:02
Speaker 3: fifty grand.
20:03
Speaker 4: People could be like, I don't know what she's got
20:05
Speaker 4: to complain about, my friend.
20:07
Speaker 3: Life adds up, Like life is expensive, and you know
20:10
Speaker 3: what's more expensive teenage children? Like I know you said, oh,
20:14
Speaker 3: their school fees aren't as bad as private fees, but
20:16
Speaker 3: like that's still thirteen grand a year that they spend,
20:20
Speaker 3: then dancing, then everything else that goes along with it.
20:23
Speaker 3: And I think it's interesting because obviously, let's be honest,
20:28
Speaker 3: lots of people have done the exact same thing on
20:30
Speaker 3: much less. But when we have that income, we're going
20:33
Speaker 3: to make the most of it and live the lifestyle
20:36
Speaker 3: that we want to live. And you've obviously gone through
20:39
Speaker 3: a majority I'm assuming of your children's lives, having a
20:42
Speaker 3: duel income household right where that was never a stretch,
20:46
Speaker 3: and it is such an ask to change your entire
20:49
Speaker 3: lifestyle to go from Hey, daughter, I know that life's
20:53
Speaker 3: really hard because you're a teenager right now, but mom
20:55
Speaker 3: and dad aren't staying together, and it means you have
20:57
Speaker 3: to cancel dancing. Like that is not something that most
21:01
Speaker 3: people would want to take because you want to keep
21:03
Speaker 3: some level of normalcy. You want to keep them in
21:06
Speaker 3: their routines and keep them happy with their friendship groups.
21:09
Speaker 4: And I think that there's just obviously privilege fantastic.
21:13
Speaker 3: But at the end of the day, this is normal.
21:16
Speaker 3: Like at the end of the day, it just makes sense.
21:19
Speaker 3: And I don't want you to feel like, I know
21:20
Speaker 3: you wrote in your said I'm in the top one
21:21
Speaker 3: percent of earners and all of that, and I think
21:24
Speaker 3: that you're obviously very aware of the privilege that is,
21:27
Speaker 3: but like you worked your butt off to get here,
21:30
Speaker 3: Like that's really cool.
21:31
Speaker 4: My friend got to ride your horse.
21:33
Speaker 2: But I think the thing is as well. It's also
21:36
Speaker 2: that was a really big part of trying to keep
21:39
Speaker 2: the kids' lives, trying to keep the impact of the
21:41
Speaker 2: separation away from them and trying to continue on. And
21:44
Speaker 2: you know, the house is a really big expense for me,
21:47
Speaker 2: but I didn't want to move. And it's not even
21:49
Speaker 2: a big house. It's a really average house in an
21:51
Speaker 2: average suburb.
21:52
Speaker 1: You know.
21:53
Speaker 2: The higher income is really quite new to me. It
21:55
Speaker 2: hasn't always been the case, and so it's not like
21:58
Speaker 2: I had a lot of money behind me, and now
22:00
Speaker 2: I'm you know, trying to pay off my mortgage and
22:02
Speaker 2: everything because I'm actually not that far from retirement. So
22:05
Speaker 2: it's kind of just sort of sneaks up on you
22:08
Speaker 2: and you think, yes, you've got this big income, but
22:09
Speaker 2: without you know, I'm sure that all of your listeners,
22:12
Speaker 2: because they've got their financial literacy so early, they would
22:16
Speaker 2: be in so much more of a better position than
22:18
Speaker 2: what I am at my age because they will have
22:20
Speaker 2: started so early and they're not trying to you know,
22:23
Speaker 2: still maintain this kind of lifestyle at the end of
22:26
Speaker 2: the day when they've only got you know, ten or
22:28
Speaker 2: fifteen years before they want to retire. So I think,
22:31
Speaker 2: you know, one of the things that I wanted to
22:33
Speaker 2: get across is that life does get more expensive and
22:35
Speaker 2: when You've got, you know, two teenage kids, and you
22:37
Speaker 2: you're really covering the cost of three people. So you know,
22:40
Speaker 2: whenever you're budgeting for yourself for clothes and hair and
22:44
Speaker 2: fuel and food, you've got to times that by three.
22:47
Speaker 2: And absolutely the income is still only coming from one person.
22:50
Speaker 2: So yeah, life does get a lot more expensive. So
22:53
Speaker 2: starting early is just yeah, it's worth absolutely worth as well.
22:56
Speaker 2: And I wish I had had the knowledge to do
22:59
Speaker 2: so myself, but yeah, it's I'm getting there better late
23:03
Speaker 2: than never.
23:03
Speaker 4: I have to ask. I have to ask.
23:05
Speaker 3: You wrote in and you said I'm a gen X
23:07
Speaker 3: single mum of you said four. Obviously that's a sixteen
23:11
Speaker 3: and eighteen year old and two gorgeous labradors.
23:13
Speaker 4: You've said I'm close.
23:14
Speaker 3: To retirement, but like, I don't know who your botox
23:18
Speaker 3: technician is. I don't know what's going on, babe, But
23:20
Speaker 3: you look like you're in your early forties. Are you
23:23
Speaker 3: actually close to retirement? Are we going to share ages
23:25
Speaker 3: on this podcast? I know they can't see you.
23:27
Speaker 2: Like I'm sharing my eight I'm forty eight. I've never
23:31
Speaker 2: had no you're not so. I've never died my hair ever,
23:35
Speaker 2: I've never had any anything else done, and people always
23:39
Speaker 2: say that to me, and I honestly I don't know.
23:41
Speaker 3: Like if you said it was my fortieth birthday last week,
23:43
Speaker 3: I'd be like, of course, it was like that makes sense,
23:45
Speaker 3: of course, Like yeah, absolutely not. But when you were
23:49
Speaker 3: dropping yep, these are my kids ages, this is what
23:52
Speaker 3: I did, this is how I grew up. And I'm like, oh,
23:54
Speaker 3: something in my head's not like, has she got an
23:56
Speaker 3: extra ten years of person sleeve to achieve what she's.
23:59
Speaker 2: Achief My parents have aged really well. I think it's good, Jeen.
24:03
Speaker 2: So I'm really really lucky in that respect because.
24:06
Speaker 4: Let me know where you buy them, because I need
24:08
Speaker 4: a lot of those.
24:09
Speaker 3: I do dye my hair because if I didn't, my
24:11
Speaker 3: friend I'd be half gray and you would all be like,
24:14
Speaker 3: what the heck?
24:15
Speaker 2: I am getting some gray hairs now. And my hairdresser
24:17
Speaker 2: is laughing at me because I'm freaking out going.
24:20
Speaker 3: Oh my god, and she's like, my friend Victoria was
24:23
Speaker 3: half gray by the age of twenty.
24:26
Speaker 4: Yeah, oh my gosh. I love that so much.
24:28
Speaker 3: I love that you're working on an emergency fund and
24:30
Speaker 3: kind of like finding your own feet. I do want
24:33
Speaker 3: to know what is your big money goal. You mentioned
24:35
Speaker 3: like you're trying to smash down your mortgage, but like,
24:37
Speaker 3: have you got specific money goals at the moment.
24:40
Speaker 2: Yeah, I really do want to pay off my mortgage
24:43
Speaker 2: and have enough money to retire at sixty, which I
24:46
Speaker 2: will be struggling to make sixty five is probably likely.
24:51
Speaker 2: But the other thing is that I do want to
24:52
Speaker 2: move out of the family home because it is quite
24:54
Speaker 2: expensive for me to keep and maintain it, and you know,
24:58
Speaker 2: kind of want to just start fresh as well. But
25:01
Speaker 2: I haven't worked out how to make that happen yet, because, yeah,
25:04
Speaker 2: if it depends what I've moved to, and if the
25:07
Speaker 2: kids are still with me, I kind of feel like
25:09
Speaker 2: they're both going to be with me through university, so
25:12
Speaker 2: I'll be you know, solely supporting them for the next
25:14
Speaker 2: few years. I mean, look, they're great kids. They both
25:17
Speaker 2: work and they contribute and everything. But it's still, you know,
25:21
Speaker 2: a lot of money.
25:22
Speaker 4: It's still a lot.
25:23
Speaker 3: It's still a responsibility at the end of the day
25:25
Speaker 3: that you're having to make accommodations for and it's important
25:28
Speaker 3: to take it into consideration.
25:29
Speaker 2: That's right. So, Yeah, aside from being able to sort
25:32
Speaker 2: of have enough money to retire if I want, and
25:34
Speaker 2: paying off the mortgage. My new partner and I both
25:37
Speaker 2: wanted to do a trip together, like an overseas trip,
25:41
Speaker 2: which we'll probably put off until our kids have finished school,
25:44
Speaker 2: and that will be twenty twenty six.
25:46
Speaker 4: Oh my gosh.
25:46
Speaker 3: But that's a goal, that's a goal to work towards,
25:49
Speaker 3: and that's so exciting.
25:50
Speaker 2: Yeah, And I guess that's another thing as well, is
25:52
Speaker 2: like sometimes with the budgeting, which is helpful for your
25:55
Speaker 2: community to know, is that sometimes it's really quite hard
25:59
Speaker 2: to because the timing of things that you want to
26:01
Speaker 2: do with your kids is dependent on what year they're in.
26:04
Speaker 2: So you might want to go on our holiday with
26:06
Speaker 2: them at a certain time, but then you've got to
26:09
Speaker 2: work in with when their exams are and all that,
26:11
Speaker 2: so you actually do have to plan, you know, well
26:13
Speaker 2: in advance and know that you've kind of got this
26:15
Speaker 2: little window, and then they might not want to come
26:17
Speaker 2: on holidays with you anymore, and those kinds of things. So, yeah,
26:21
Speaker 2: it is it is tricky to sort of balance everybody's needs.
26:24
Speaker 2: You're not just balancing your own needs, you're balancing, you know,
26:27
Speaker 2: what they've got going on, and they go through phases
26:29
Speaker 2: where they want to come away with you, and then
26:31
Speaker 2: it's all about their friends, and then they don't mind
26:33
Speaker 2: so much. Again, so a lot of the time, Yeah,
26:36
Speaker 2: it's really you're really juggling and trying to make those
26:38
Speaker 2: memories while you can. You know, it's it's tricky.
26:42
Speaker 4: Oh my gosh. All right, let's go to a really
26:43
Speaker 4: quick break.
26:44
Speaker 3: I have so many more questions and we'll get to
26:47
Speaker 3: them in a hot minute. All right, Money direst we
26:53
Speaker 3: are back, and I feel like this has been one
26:55
Speaker 3: of my favorite chats in more recent times. I feel
26:59
Speaker 3: like it's just so enlightening to see where you're coming from.
27:02
Speaker 3: And you've broken down your budget in such nitty, greedy
27:04
Speaker 3: detail that I'm like, I love this. Maybe I should
27:06
Speaker 3: make every single money. Don't tell me exactly what's in
27:09
Speaker 3: their budget. I just find it genuinely so interesting. You
27:14
Speaker 3: mentioned before that your kids have started investing, but I
27:18
Speaker 3: want to have you started investing, Like, are we walking
27:20
Speaker 3: the walk or we just talk in the talk?
27:22
Speaker 2: My friend, I haven't started investing for myself so well,
27:26
Speaker 2: aside from my super so. Again, I'm really lucky because
27:29
Speaker 2: I've been with the government. They have fifteen percent super so.
27:32
Speaker 2: My own super is actually five hundred grand.
27:36
Speaker 4: Oh my gosh, no it isn't. Yeah, that's so sexy.
27:39
Speaker 2: Yeah, look, I'm really really happy about that because, like
27:43
Speaker 2: I said, you know, I used to be up until
27:44
Speaker 2: a year ago, I honestly used to get the super
27:47
Speaker 2: statements and just go, oh, yeah, okay. I didn't even
27:51
Speaker 2: have an idea about how great you know, and how
27:54
Speaker 2: good that is and how lucky I am to have that.
27:56
Speaker 2: I really didn't know.
27:57
Speaker 3: So no, not lucky, we're removing that one, or an
28:00
Speaker 3: how hard you've worked.
28:02
Speaker 2: It has been hard work. I have worked since I
28:04
Speaker 2: was fourteen, so I have that. But also in the
28:07
Speaker 2: financial settlement, I did get some of my ex'es super
28:11
Speaker 2: as well because I was actually part time for about
28:14
Speaker 2: ten years, so I didn't you know, I was looking
28:16
Speaker 2: after the kids. I was a primary caregiver as well
28:18
Speaker 2: as working part time. So I actually have another one
28:21
Speaker 2: hundred and thirty k of his. And that one, that's
28:25
Speaker 2: a really interesting one because when we did this settlement,
28:27
Speaker 2: I didn't know that I was entitled to that, and
28:30
Speaker 2: he really tried to keep lawyers out of it and
28:33
Speaker 2: not to get legal advice and kind of said, oh,
28:35
Speaker 2: you know, if you do that, it's going to be
28:37
Speaker 2: really expensive and all this.
28:38
Speaker 4: Stuff more expensive for me or not that.
28:40
Speaker 2: Yeah, that's right, and that's how it turned out because
28:42
Speaker 2: I wouldn't have got that if I hadn't had lawyers
28:45
Speaker 2: go no, this is this is the breakdown, this is
28:47
Speaker 2: what you know, how we're going to do. Yeah, so
28:49
Speaker 2: I have that as well. So they're my OWNI investments.
28:52
Speaker 4: Only that's a lot. I'm very impressed. That's a lot.
28:55
Speaker 2: Yes, but yes, I'm very very fortunate to have that.
28:58
Speaker 2: And look, I don't you know, I guess I would
29:01
Speaker 2: not be even looking to retire at sixty if I
29:04
Speaker 2: didn't have those. So yeah, I'm really really happy. Suppose
29:08
Speaker 2: I don't have any actual Well, I do have investments
29:11
Speaker 2: in my name because we invested some money for the
29:13
Speaker 2: kids in some direct shares that was probably about ten
29:18
Speaker 2: years ago. Now that is worth about eleven grand and
29:21
Speaker 2: they are in my name. But the plan is that
29:24
Speaker 2: I will transfer them to the kids' names when they're
29:26
Speaker 2: both over eighteen. Although that's another thing I want to
29:29
Speaker 2: talk to my financial advisor about is that obviously the
29:31
Speaker 2: tax is on me at this point in time. So
29:34
Speaker 2: now that my daughter's eighteen it might be good to
29:36
Speaker 2: transfer them to her name, but then I've got to
29:39
Speaker 2: split them between the two kids. So yeah, I still
29:41
Speaker 2: have a few things to work out with that. And
29:44
Speaker 2: then more recently, because the dividends were being paid into
29:46
Speaker 2: their trading account, I spoke about it with the kids
29:49
Speaker 2: and so they did choose some comsept pocket ETFs, so
29:53
Speaker 2: they've got that as well. Again, it's all in my name,
29:55
Speaker 2: but it will be transferred to them once they're eighteen.
29:58
Speaker 2: So I don't have anything that's mine. Actually it was super,
30:02
Speaker 2: but I don't have anything that's mine. But my plan
30:05
Speaker 2: is that I'm actually changing jobs. So I'm actually starting
30:08
Speaker 2: a job, a new job in a few weeks.
30:11
Speaker 4: Congrats, how exciting.
30:12
Speaker 2: Thank you And I actually want to say thank you
30:14
Speaker 2: to you because listening to the podcast gave me the
30:18
Speaker 2: confidence to actually ask for a better deal than what
30:21
Speaker 2: I was getting. In the better deal, it wasn't more money,
30:24
Speaker 2: but because the SUPER was going to be less than
30:27
Speaker 2: the government super, I did ask for the package to
30:30
Speaker 2: be the same and they agree.
30:31
Speaker 4: Our money win. That's such a good outcome.
30:34
Speaker 2: Yeah, I would never ever have done that. I would
30:37
Speaker 2: have just gone on. Yet you're going to manche the salary.
30:39
Speaker 2: That's great. Yeah, I would never have done it, so
30:41
Speaker 2: thank you.
30:42
Speaker 4: Ah, I love that so much.
30:44
Speaker 3: It gives me goosebumps when people actually make tangible change.
30:48
Speaker 2: But my plan, and you're going to love this even more,
30:50
Speaker 2: is that my plan is that for that additional money
30:53
Speaker 2: that won't be going into my super anymore, I am
30:55
Speaker 2: going to invest that. So I'm just going to compartmentalizeer,
30:59
Speaker 2: not going to see, not going to have it come
31:01
Speaker 2: into my cash area. I'm going to just have it
31:05
Speaker 2: straight into investments so that it's working the same for
31:08
Speaker 2: me as my super was obsessed.
31:10
Speaker 4: Yeah, I love it.
31:10
Speaker 3: Talk to your financial advisor and she'll set it all
31:12
Speaker 3: up and make sure that you're ready to go.
31:14
Speaker 4: I love that idea so much. I want to know.
31:18
Speaker 3: We spoke before about you having a mortgage, so I
31:22
Speaker 3: want to know about debts. What debt do you have
31:24
Speaker 3: and tell us a little bit more about that.
31:26
Speaker 2: Yep, So I have my mortgage, which is about four
31:29
Speaker 2: hundred and sixty grand. Kind of the separation made me
31:33
Speaker 2: realize that we really didn't have a lot of money.
31:35
Speaker 2: Part of the reason for that is we had just
31:37
Speaker 2: done some home renovations and so the capital in our
31:40
Speaker 2: house had been reduced through that was just the timing
31:43
Speaker 2: of it. So I do still have a sizeable mortgage,
31:46
Speaker 2: which that's what I'm trying to pay down. I don't
31:48
Speaker 2: have any other debts though, so I don't have hex debt.
31:51
Speaker 2: I was very fortunate to get a scholarship. I have
31:54
Speaker 2: got a PhD. And I got a PhD scholarship.
31:57
Speaker 3: And you didn't ride in with doctor in front of
31:59
Speaker 3: your Come on, no, I didn't. All right, well doctor
32:05
Speaker 3: money diarrest. How much is your property worth in comparison
32:09
Speaker 3: to your mortgage at this year?
32:10
Speaker 2: It's probably about seven hundred grand.
32:12
Speaker 4: Oh, that's not too bad in comparison.
32:15
Speaker 3: Yeah, yeah, And the plan is to smash that down
32:18
Speaker 3: over a period of time before you retire and get
32:21
Speaker 3: that done. How likely is that to be paid off
32:24
Speaker 3: by the time you're sixty.
32:25
Speaker 2: I think it's pretty good odds because I guess I'm
32:28
Speaker 2: planning on my expenses being less with the kids growing up,
32:32
Speaker 2: and look, I think it's definitely will happen in fifteen years,
32:36
Speaker 2: probably in eleven, is my plan.
32:39
Speaker 4: So yeah, oh, how cool.
32:41
Speaker 2: But it's like, you know, it's all last minute stuff.
32:43
Speaker 2: I just think, gosh, if I'd been applying myself to
32:46
Speaker 2: this all this time, my life would be just really different.
32:50
Speaker 3: But you just don't know what you don't know, and
32:51
Speaker 3: you weren't entering on that path yet, And that is
32:54
Speaker 3: so fine. Now I need to know, what do you
32:57
Speaker 3: think your best money habit is, Well, this is a.
33:01
Speaker 2: Funny one, but my best money habit is that I'd
33:03
Speaker 2: normally take my lunch to work, so I work in
33:05
Speaker 2: the city, but I never ever buy my lunch. And
33:08
Speaker 2: this has not been motivated by money. But what happens
33:11
Speaker 2: that when you get older is if you look at
33:13
Speaker 2: a piece of lettuce, you put on a killo. So
33:15
Speaker 2: it was more about eating health than saving money.
33:20
Speaker 3: That's fair, that's absolutely fair. But also it does impact
33:24
Speaker 3: the budget because I feel like the piece of lettuce
33:27
Speaker 3: you buy at lunch time is like at least sixteen
33:31
Speaker 3: dollars nowadays.
33:32
Speaker 2: Correct.
33:32
Speaker 4: Yeah, so that's a no for me.
33:34
Speaker 2: Yeah yeah, yeah, So that's a really good money habit
33:36
Speaker 2: that I'll take, even though it wasn't actually a money habit.
33:40
Speaker 3: What are you usually taking to work for lunch though?
33:42
Speaker 3: Are we making gourmet lunches? Are we doing tuna and rice?
33:46
Speaker 4: Like? What does it look.
33:47
Speaker 2: Like I do. I generally do like a fresh fruit
33:50
Speaker 2: and bed platter, which it's so funny because I generally
33:53
Speaker 2: use up all of the fruit and veg and you know,
33:55
Speaker 2: it's not old, but it's the stuff that the kids
33:57
Speaker 2: are not going to eat kind of thing. And I
33:59
Speaker 2: bring it to work and I cut it off and
34:01
Speaker 2: I arrange it on a plate, and it's like, you know,
34:03
Speaker 2: carrot sticks, cucumber, cherry tomatoes, you know a bit of
34:06
Speaker 2: meat and olives and fetter. If I have it, and
34:09
Speaker 2: I put it all on a plate because I just
34:11
Speaker 2: go and get it, cut it all up, and then
34:12
Speaker 2: I just snack through the day because I generally don't
34:14
Speaker 2: leave my desk. So good lunch, but it's just like
34:17
Speaker 2: a last minute thing. I don't have to do any prep.
34:20
Speaker 2: And I get so many comments in the lunch room
34:22
Speaker 2: when everyone sees it all laid out on a plate.
34:24
Speaker 2: They're like, Wow, your lunch looks so good. And I'm like,
34:27
Speaker 2: I just brawl was left in the fruit nutral. It's
34:31
Speaker 2: quite funny, but yeah, no, I find that works really well.
34:34
Speaker 2: And then because you sort of eating your snacking, I
34:36
Speaker 2: don't if I have it big lunch, I just want
34:38
Speaker 2: to fall asleep in the afternoon, so it kind of
34:40
Speaker 2: avoids that as well.
34:42
Speaker 4: Yeah, that's fair.
34:43
Speaker 3: I do tend to avoid pasta and stuff because otherwise
34:46
Speaker 3: I think I deserve a nap and I'm not very
34:48
Speaker 3: good at self control, so I'll usually let myself have
34:51
Speaker 3: the nap.
34:52
Speaker 2: I want to know.
34:52
Speaker 3: On the flip side, though, because platters a work that
34:55
Speaker 3: sounds good, I'm glad I asked.
34:57
Speaker 2: Lots of people are quite inspired by it apparently, which
35:00
Speaker 2: is yeah, funny, love.
35:03
Speaker 4: I need to know, though, what is your worst money habit.
35:07
Speaker 2: I have a lot of bad money habits. I'd say
35:09
Speaker 2: the worst one is like my kids, you know, when
35:12
Speaker 2: they want something, I really want to get it for them.
35:15
Speaker 2: They aren't that sport though generally, you know, make them
35:18
Speaker 2: save up for things and all of that. But I do,
35:20
Speaker 2: you know, because I have the means, I do like
35:23
Speaker 2: to get it for them. And you know, that really
35:25
Speaker 2: happened because I've never really had a lot of money
35:27
Speaker 2: my whole life. Like I didn't have it when I
35:29
Speaker 2: was a kid. I went straight to UNI. I was
35:31
Speaker 2: at UNI for a long time because I did multiple
35:34
Speaker 2: degrees and you know, didn't have that much money. Then
35:36
Speaker 2: my first job that I got when I finished, not
35:39
Speaker 2: my PhD, but my undergrad was for twenty five thousand
35:42
Speaker 2: a year, and I just thought I'd hit the jackpot,
35:44
Speaker 2: you know. So and then doing a PhD for a
35:47
Speaker 2: long time and then basically having kids, and so I
35:49
Speaker 2: went straight to was out of work for six months
35:52
Speaker 2: and then working part time. So I never really had
35:55
Speaker 2: like a lot of money. And so then when I
35:58
Speaker 2: got I separated and all of a sudden I could
36:00
Speaker 2: spend the money on what I wanted. I did go
36:03
Speaker 2: a little bit crazy because it was the first time
36:05
Speaker 2: ever that I had money. So, yeah, a lot of
36:07
Speaker 2: stuff on their kids and also the dogs too. Probably
36:11
Speaker 2: my worst money have it, and I do also like clothes,
36:14
Speaker 2: but I'm really trying to rain that.
36:17
Speaker 4: That's fair. That's fair, all right.
36:19
Speaker 3: Last question I have for you is at the start
36:22
Speaker 3: of our conversation, I asked you what your money grade was,
36:24
Speaker 3: and you set a sea But then you continue to
36:26
Speaker 3: tell me about how the potential to retire at sixty
36:29
Speaker 3: is there smashing down your mortgage. You gave me a
36:32
Speaker 3: really detailed outline of your budget and how that works
36:36
Speaker 3: and what that looks like. And we talked about super
36:38
Speaker 3: and how you are obviously killing it inside super and
36:42
Speaker 3: have plans to invest outside of superannuation in yourself, but
36:45
Speaker 3: also you negotiated to get some of your partners super
36:49
Speaker 3: when you went through a divorce. Like, I just feel
36:51
Speaker 3: like there's a lot going on there in a really
36:54
Speaker 3: good way, and you spoke about it one so clearly,
36:58
Speaker 3: but also in a way that just made so the
37:01
Speaker 3: real question I have for you now is is C
37:04
Speaker 3: where you really think you're sitting at the moment, and
37:07
Speaker 3: if so, what's it going to take to get to
37:09
Speaker 3: an A.
37:10
Speaker 2: Yeah, I think a C is really because it's about
37:13
Speaker 2: my money management, Like in terms of having money. You know,
37:17
Speaker 2: maybe now it's a bit higher, but my own money
37:20
Speaker 2: management is literally only in the last year have I
37:23
Speaker 2: got on top of it. So I think I would
37:25
Speaker 2: still say C. But I think probably in a couple
37:27
Speaker 2: of years I will get up to a B and
37:29
Speaker 2: then hopefully by the time I retire, it'll be an A.
37:32
Speaker 3: So I have made it at the base of I
37:36
Speaker 3: love that you're still like, no, this is about me
37:38
Speaker 3: and my money journey. And I still feel like a
37:40
Speaker 3: C because sometimes we talk to people and they're like, yeah,
37:42
Speaker 3: you're right, and being a bit harsh on myself. And
37:44
Speaker 3: I feel like a lot of people are going to
37:46
Speaker 3: be jumping up and down in their carts right now
37:47
Speaker 3: and they're.
37:47
Speaker 4: Like, she is being harsh on herself. She's an a.
37:50
Speaker 4: But it's not really about what we think.
37:52
Speaker 3: It's more about how you're feeling and how you're grading
37:55
Speaker 3: that and what that means. And you're only comparing past you.
37:58
Speaker 3: We're not comparing to other people, just comparing to the
38:00
Speaker 3: journey that you've been on an artist. I'm so in
38:03
Speaker 3: awe of what you're creating and what you're doing and
38:05
Speaker 3: the life skills you're teaching your kids and that they're
38:07
Speaker 3: set up for success, and I reckon, they're so proud
38:10
Speaker 3: of you, like there's no way they're not, Like it's
38:13
Speaker 3: just it's so cool to see your journey. And I'm
38:15
Speaker 3: just so grateful the one you wanted to tell your story,
38:17
Speaker 3: but too I get to say that you're part of
38:19
Speaker 3: our community, and like, thank you. I really really appreciate it, Honestly,
38:23
Speaker 3: I do.
38:23
Speaker 2: No, thank you very much for having me on. And yeah,
38:26
Speaker 2: I just also hope that your community is like you know,
38:29
Speaker 2: they can get there too, because if someone like me
38:31
Speaker 2: can get there with no financial literacy whatsoever. Then you
38:35
Speaker 2: know they're all going to be in such good steads.
38:38
Speaker 2: So yeah, and thank you. Thank you for educating me
38:42
Speaker 2: and us all. And you've made a huge difference to
38:45
Speaker 2: my kids. You are going to affect their lives enormously,
38:48
Speaker 2: So thank you very much.
38:49
Speaker 3: Oh my gosh, I love it well. Thank you so
38:51
Speaker 3: much for spending some time with me today. I cannot
38:54
Speaker 3: wait to drop this episode.
38:55
Speaker 4: Everyone's gonna love it.
38:57
Speaker 2: Thank you.
39:03
Speaker 3: The advice shared on She's on the Money is general
39:06
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39:10
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39:13
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