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MONEY DIARIES: A Lesson in 4 Legged Investments! · 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.
0:33
Speaker 2: Let's get into it.
0:34
Speaker 3: She's on the Money.
0:36
Speaker 2: She's on the Money. Hello, and welcome to She's on
0:59
Speaker 2: the Money, the podcast for millennials who want financial freedom.
1:03
Speaker 2: Welcome back to another one of our very special money
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Speaker 2: diaries where I get the absolute privilege of talking to
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Speaker 2: one of our incredible She's on the Money community members
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Speaker 2: all about their journey. Let's jump straight into it, because
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Speaker 2: this week I got a message and it went a
1:16
Speaker 2: little bit like this. Hi, She's on the Money. I'm
1:19
Speaker 2: a vet student who is steadily growing my investments both
1:22
Speaker 2: shares and full legged, trying to save for rotations while
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Speaker 2: my animals are trying to bankrupt me. I'm a third
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Speaker 2: generation farmer who started listening to She's on the Money
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Speaker 2: on a tractor and would love to share my story
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Speaker 2: from beautiful rural Australia. Money Diarist, welcome, How are you?
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Speaker 3: I'm well, thank you?
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Speaker 2: Oh my gosh, I'm so excited to hear about your
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Speaker 2: full legged investments like that is? I mean cool? I'm confused,
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Speaker 2: but we will get there. Let's dive straight in though.
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Speaker 2: Are you ready to do a podcast? Yes, I'm very excited.
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Speaker 3: All right.
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Speaker 2: As always, we start by asking what grade would you
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Speaker 2: give your money habits on a scale from eighth to F.
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Speaker 3: I'd probably say c CE.
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Speaker 2: All right, let's learn more about that. My actually favorite
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Speaker 2: question of the entire show ever, is tell us a
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Speaker 2: little bit more about your money story. So, Money Diarist,
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Speaker 2: can you give us a little bit of a deep dive?
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Speaker 3: So? Like I said, i am a third generation farmer
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Speaker 3: from rural Australia, and I'm also currently our fourth year
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Speaker 3: that student, halfway through or more than halfway through my
2:27
Speaker 3: degree now getting to the pointy end, and I've got
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Speaker 3: twelve months left of classes before I head off for
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Speaker 3: twelve months worth of rotations which are going to be
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Speaker 3: probably a little bit expensive because we're not paid to
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Speaker 3: do our rotations, so I've got to start saving between
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Speaker 3: now and then. But that's sort of where my special
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Speaker 3: four legged investments help. My parents. Well, my dad is
2:52
Speaker 3: primarily a farmer. My mum's actually also a teacher. Oh cool. Yeah,
2:56
Speaker 3: she works at the local tape in town. So dad
3:00
Speaker 3: likes to call her his diversi.
3:04
Speaker 2: So she's a smart income smart man.
3:07
Speaker 3: And so for the first sort of ten years of
3:10
Speaker 3: my life, we were in quite a severe drought, so
3:13
Speaker 3: mum's income from being a teacher's sort of helped float
3:17
Speaker 3: the f a lot.
3:18
Speaker 2: Yeah wow. So yeah, And then if you don't come
3:21
Speaker 2: from a farming background, I think one of the riskiest
3:25
Speaker 2: things about farming is just how inconsistent income can be.
3:29
Speaker 2: Like income when you're farming can be really really good
3:32
Speaker 2: one year, and then you go through a drought for
3:34
Speaker 2: a few years and you're just not financially equipped for it.
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Speaker 2: And that doesn't just impact like your lifestyle and you know,
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Speaker 2: your ability to save and invest. It actually impacts the animals,
3:44
Speaker 2: It impacts your crops, It impacts the soil for the future,
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Speaker 2: so's it impacts you know, being able to actually invest
3:50
Speaker 2: in more animals in the future. And it's just this
3:52
Speaker 2: very downward spiral, which is why the drought that happened
3:56
Speaker 2: more recently was so catastrophic. I suppose what happened coming
4:00
Speaker 2: out of that drought. Was that something that you know,
4:03
Speaker 2: really weighed heavily on your family or was it sort
4:06
Speaker 2: of okay, or is it something that you knew how
4:08
Speaker 2: to get through, Like, I just want to know a
4:10
Speaker 2: little bit more about that.
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Speaker 3: We're probably a little luckier than some other farmers just
4:15
Speaker 3: in where we're located. We're actually located on a creek
4:19
Speaker 3: that we can use to lift water and then irrigate.
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Speaker 3: So we've got well, our farms seventeen thousand acres and
4:27
Speaker 3: about twelve hundred of those is flood irrigation. So if
4:32
Speaker 3: it wasn't raining and there's water in the creek and
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Speaker 3: Dad's got a certain amount of percentage of allocation, you
4:38
Speaker 3: can then irrigate and at least have some form of
4:42
Speaker 3: food for the sheep and the cows and stuff. And
4:46
Speaker 3: where because where we live is always sort of there's
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Speaker 3: drought years. It's just the ongoing cycle. It's either drought
4:52
Speaker 3: or it's good fodder conservation is a big part. So
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Speaker 3: we've in the past made silage and then buried it
5:00
Speaker 3: with the hope of never seeing it again. But should
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Speaker 3: it become necessary, we can always open it and then
5:08
Speaker 3: feed shit that. So, like I would have been twenty eighteen,
5:12
Speaker 3: I was doing my gap year, and that was quite
5:14
Speaker 3: a drought year for us, So I spent probably six
5:17
Speaker 3: months driving around in the feed trailer feeding out corn
5:21
Speaker 3: and loopins and favor beans to our use to just
5:25
Speaker 3: give them energy to keep on going. And then it
5:28
Speaker 3: did eventually rain, and it often eventually rained, so it's
5:31
Speaker 3: sort of just a waiting game of sticking it out
5:33
Speaker 3: for long enough. And you know, some people you can
5:36
Speaker 3: sort of like my grandfather, he's been living here for
5:40
Speaker 3: I think it's sixty sixty or seventy odd years now,
5:44
Speaker 3: so you know, he can sort of see the cycles,
5:46
Speaker 3: and Dad's the same. They can sort of say, oh,
5:49
Speaker 3: if it hasn't rained by this time of year, Like
5:52
Speaker 3: this year, up until probably two weeks ago, I was
5:56
Speaker 3: looking a bit dry and we're all a bit worried,
5:58
Speaker 3: And then we've had some which has made it a
6:02
Speaker 3: lot easier for us future planning. It's just always a
6:06
Speaker 3: continual cycle in the back of your mind, like do
6:09
Speaker 3: we need to lighten off numbers, sell some stock now
6:13
Speaker 3: and then, Like you say, it's so volatile the market.
6:15
Speaker 3: So the wall market and the sheep market and the
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Speaker 3: cattle market at the moment are all sort of down
6:20
Speaker 3: from where they've been. But when Dad likes to say,
6:24
Speaker 3: when you think about it historically, it's still up from
6:27
Speaker 3: say ten or fifteen years ago. Yeah.
6:30
Speaker 2: Wow. I find that so interesting because I just having
6:34
Speaker 2: grown up in Tasmania and I did move over when
6:36
Speaker 2: I was relatively young, but having farmer grandparents, like I
6:40
Speaker 2: know a bit about it, but not necessarily enough about it,
6:43
Speaker 2: and I just find it so so interesting. I remember
6:47
Speaker 2: my mum telling me a bit about how she would
6:50
Speaker 2: get pocket money growing up living on a farm, and
6:52
Speaker 2: to me that was mind blowing because it's such a
6:54
Speaker 2: different way to get pocket money because I guess side
6:58
Speaker 2: story growing up, mum was allocated a whole paddock and
7:02
Speaker 2: she had to look after that paddock and look after
7:05
Speaker 2: the animals in that paddy and make sure they were
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Speaker 2: fed and then take them off for sale, and that
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Speaker 2: ended up being her profit and her pocket money for
7:12
Speaker 2: the year, right, And so that's very different to me
7:14
Speaker 2: doing the chores and emptying the dishwasher, right, So I
7:17
Speaker 2: want to know money, Direst. Don't really use your name,
7:20
Speaker 2: I'm sorry. I want to know how did you get
7:22
Speaker 2: pocket money growing up, if there was any, and how
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Speaker 2: did you discuss money as a family.
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Speaker 3: Pocket money growing up? I mean, probably didn't really have
7:32
Speaker 3: pocket money as such properly until we sort of went
7:35
Speaker 3: to boarding school. But it was just like from however
7:39
Speaker 3: old we were always or probably since we could walk,
7:42
Speaker 3: we were always outside on the farm. Like if mum
7:46
Speaker 3: was working, she'd throw me and my sister, we're pretty
7:49
Speaker 3: close in age, we'd go off with that and we'd
7:51
Speaker 3: sit in the front of you and go feeding sheep
7:53
Speaker 3: or just helping. And then you know, and you get
7:56
Speaker 3: a bit bigger. We're obviously doing all the jobs, feeding
7:58
Speaker 3: all the animals at home here, and then like helping
8:00
Speaker 3: with landmarking, helping with calf marking, helping just in the
8:04
Speaker 3: yards and stuff. And I suppose because I've been doing
8:07
Speaker 3: it for so long, I just that's just my life.
8:09
Speaker 3: I don't really see it as any different. But yeah,
8:12
Speaker 3: it's really just been helping out. And like now I'm
8:15
Speaker 3: a bit older. It's I almost say that UNI gets
8:17
Speaker 3: in the way of me helping at home, but I
8:21
Speaker 3: come home on most weekends if Mom and Dad need
8:23
Speaker 3: a hand around, and then all my holidays are sort
8:27
Speaker 3: of spent working at home on the farm.
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Speaker 2: Amazing, All right, talk to me. The next question is
8:32
Speaker 2: what do you do for work and how much money.
8:34
Speaker 3: Do you earn? So all my work sort of casual
8:37
Speaker 3: work because the degree that I'm doing is so intensive
8:40
Speaker 3: that I don't really do any don't really have time
8:43
Speaker 3: for a job as on top of my studying in
8:46
Speaker 3: order to not fail any subjects and sort of delay
8:50
Speaker 3: my graduation. So yeah, in any of the holidays, all
8:54
Speaker 3: the small holidays, so like midsem and middle of the year,
8:58
Speaker 3: I come home and give mom and dad a hand
9:01
Speaker 3: at the farm. It's whatever we're doing. And Dad sort
9:05
Speaker 3: of just pays us a day rate, which is two
9:07
Speaker 3: and fifty dollars a day, so depending on how many
9:09
Speaker 3: days of work we do, we'll get paid. And then
9:13
Speaker 3: I do actually in the summer holidays because it's a
9:16
Speaker 3: bit longer. I've spent the last three years seeing on
9:21
Speaker 3: a chaser bin for harvest for a family friends, and
9:24
Speaker 3: that's a very intensive job. It's sort of big hours,
9:29
Speaker 3: sort of averaging a fourteen hour day for thirty dollars
9:33
Speaker 3: an hour, and then you sort of just keep going
9:36
Speaker 3: until you finish, or if there's a wet day, you
9:38
Speaker 3: might have that day off or stuff like that. And
9:40
Speaker 3: then I'm also fortunate enough, I well, it wasn't necessarily
9:45
Speaker 3: the choice, but I did two gap years, so I
9:48
Speaker 3: was able to be assessed as an independent when I
9:51
Speaker 3: went to UNI. So I've been receiving setlink for the
9:55
Speaker 3: entirety of my UNI degree, which.
9:56
Speaker 2: Is how did you swindle that one.
9:58
Speaker 3: I was always going to have one gap year, and
10:00
Speaker 3: I did that at home, and then I was sort
10:02
Speaker 3: of going to the end of the year and I
10:03
Speaker 3: was like, oh, someone mentioned to me that they were
10:06
Speaker 3: going to go work in a summer camp in America,
10:07
Speaker 3: and I was like, oh, that sounds like a really
10:09
Speaker 3: interesting idea.
10:10
Speaker 2: That's cool.
10:11
Speaker 3: So I hope lied for that and got that job.
10:13
Speaker 3: So I had two gap years, and then coming back,
10:16
Speaker 3: the accountant was like, well, you only needed to have
10:18
Speaker 3: worked for fourteen months full time, which I did before
10:21
Speaker 3: I went to America to be assessed. And I mean,
10:24
Speaker 3: Sandlin did give me the run around as I often do,
10:27
Speaker 3: but we got there in the end, and yeah, I
10:30
Speaker 3: was able to be assessed as independent, which was great.
10:32
Speaker 2: That is so helpful, especially at UNI. I feel like
10:35
Speaker 2: it really helps you feel a lot more independent, like
10:38
Speaker 2: less reliant on parents and a little bit more freedom
10:41
Speaker 2: to actually spend time studying and you know, getting the
10:44
Speaker 2: degree that you want to get done done. And I
10:47
Speaker 2: mean at the end of the day, you're going to
10:48
Speaker 2: be a VET. So sorry money dirist, but you will
10:51
Speaker 2: be paying a fair amount of tax. So kind of
10:54
Speaker 2: what goes around comes around.
10:55
Speaker 3: Yeah, that's it.
10:57
Speaker 2: Yeah, absolutely, absolutely tell me a little bit more about
11:01
Speaker 2: I guess your annual income, So what do you think
11:05
Speaker 2: each year you're taking in and how much do you
11:07
Speaker 2: think you have to save to do all of these
11:10
Speaker 2: placements that are coming up.
11:12
Speaker 3: So I did look the other day and for this
11:15
Speaker 3: current financial year today, it's probably been my biggest financial
11:18
Speaker 3: year income wise for a long time.
11:20
Speaker 2: Oh a big dog energy.
11:21
Speaker 3: Yeah, and it's just sort of sitting just under the
11:24
Speaker 3: twenty thousand for that's just for like my harvest work
11:27
Speaker 3: and work at home and then obviously settl links around
11:30
Speaker 3: that eighteen you know, eighteen thousand, two hundred mark.
11:34
Speaker 2: So it's what thirty eight thousand, Yeah.
11:37
Speaker 3: So it's not too bad. And then in terms of
11:40
Speaker 3: the rotations twelve months of rotations, they sort of I
11:43
Speaker 3: think I've heard from this above that they tell you
11:45
Speaker 3: to sort of budget around one thousand dollars a week
11:49
Speaker 3: and it's a third three week what.
11:52
Speaker 2: A thousand dollars a week? Yeah, that you're meant to
11:55
Speaker 2: pay for accommodation to get a degree and you're not
11:59
Speaker 2: being paid for you rotations. I cannot, like, I know
12:02
Speaker 2: that obviously vets are the same, but the amount of
12:05
Speaker 2: friends that I have in nursing and Midwiffrey, it blows
12:09
Speaker 2: my mind that these placements are unpaid work when obviously,
12:14
Speaker 2: if you're a nurse, you are probably going to hear
12:16
Speaker 2: this and go, yeah, that's absolutely true. You're doing so
12:19
Speaker 2: much work that should be paid, like you're doing the
12:21
Speaker 2: work of somebody else. And in VET, I'm just going
12:25
Speaker 2: to make a stab in the dark and assume that
12:27
Speaker 2: you're probably doing even more because there's, like, let's be honest,
12:31
Speaker 2: slightly less risk because it's not human lives, but also
12:34
Speaker 2: there's less hands on deck, like you're not in a hospital,
12:37
Speaker 2: and I'm assuming money dirests. Given the information you've given us,
12:40
Speaker 2: you're probably going to be rural, so you're probably doing
12:43
Speaker 2: one on one. You're probably going to be functioning basically
12:46
Speaker 2: as a vet, right.
12:48
Speaker 3: Yeah, yeah, no, that's it. Like the last twelve months
12:50
Speaker 3: you basically send you out as a baby vet and
12:52
Speaker 3: you learned from everyone else and doing surgeries and stuff,
12:56
Speaker 3: and you're.
12:56
Speaker 2: Not being paid for it. Like this blows my mind
13:00
Speaker 2: because there's such you know, you're doing really well. Thirty
13:03
Speaker 2: eight grand is such a nice amount of money, and
13:06
Speaker 2: you know, we'll get to what you're saving and what
13:07
Speaker 2: you're investing for the future and all of this. But
13:10
Speaker 2: there's such a privilege to being able to do that,
13:14
Speaker 2: Like there are so many people who would be listening
13:16
Speaker 2: to this and going, I would love to be a vet.
13:18
Speaker 2: I am so obsessed to live animals, Like I would
13:21
Speaker 2: you know, die to do that job, but I just
13:22
Speaker 2: can't afford to do the placements and the rotations. Like
13:25
Speaker 2: it breaks my heart that that's the case, because so
13:29
Speaker 2: many people would be so good, but they just can't
13:31
Speaker 2: make that sacrifice and the amount of planning that goes
13:34
Speaker 2: into you just doing it wild, Like it blows my mind.
13:38
Speaker 2: Have you got friends that maybe are in a similar
13:41
Speaker 2: position who might not be able to study what you're
13:44
Speaker 2: studying or take the rotations that you're taking. Is that
13:47
Speaker 2: a common thing in your I guess let's call it
13:49
Speaker 2: an industry or your study.
13:51
Speaker 3: I think the industry like even though we don't get paid,
13:54
Speaker 3: A lot of vet clinics because they like this is
13:57
Speaker 3: almost like the year where you sort of can tribe
13:59
Speaker 3: for you buy for your first job. There's obviously scholarships
14:02
Speaker 3: and stuff you can get to help with it.
14:04
Speaker 2: But they're not guaranteed, right, No, but a lot of
14:08
Speaker 2: vet clinics they'll either have accommodation for vet students or
14:12
Speaker 2: often like people who work in the vet clinic put
14:15
Speaker 2: up vet students or you know, you cause you can
14:18
Speaker 2: sort of pick some of your rotations.
14:20
Speaker 3: You can pick, you know, if you know you've got
14:22
Speaker 3: a friend of a friend or a family friend who
14:24
Speaker 3: lives there you can stay with for a few weeks.
14:27
Speaker 3: But yeah, definitely I reckon. Because my university is more
14:31
Speaker 3: of a rural university, we might have a lot of
14:34
Speaker 3: my friends like we're all sort of thinking about it
14:36
Speaker 3: now because we've got twelve months until then, Like, how
14:39
Speaker 3: can we make the most money, especially over summer, so
14:42
Speaker 3: that we can afford afford to go on rotations.
14:46
Speaker 2: Yeah, totally. Oh my gosh, it stresses me out thinking
14:49
Speaker 2: about it. And yeah, it just reminds me of the
14:52
Speaker 2: privilege that exists around study. Like it's not just around
14:55
Speaker 2: being able to pay for the actual units, it's like
14:58
Speaker 2: the time and the energy and the effort. And not
15:01
Speaker 2: to mention, you're from a farming family, so that time
15:04
Speaker 2: out of the farm as well is time that I mean,
15:07
Speaker 2: you're probably not being paid on the farm when you're
15:09
Speaker 2: hanging out with your parents doing some work, but like
15:12
Speaker 2: that's work that's not being done that your parents might
15:14
Speaker 2: actually have to replace at some point, and that can
15:17
Speaker 2: have further financial impact that I think not many people
15:20
Speaker 2: think about and it's very frustrating. But at the same time, again,
15:24
Speaker 2: I mean, they're probably going to be pretty happy to
15:26
Speaker 2: have a fully qualified VET on hand because like my
15:29
Speaker 2: friend farming vets, there's beeno.
15:32
Speaker 3: Yeah no, dad's he says, I can't wait till you
15:35
Speaker 3: graduate so I never have to pay an absent for
15:37
Speaker 3: a VET bill.
15:38
Speaker 2: One hundred percent, Like that's exactly what I'd be doing.
15:41
Speaker 2: I'd be like, all right, money direst I am investing
15:43
Speaker 2: in your future so that I don't have to pay
15:45
Speaker 2: vet bills because that's expansive and running a farm. They're
15:50
Speaker 2: sick every second week, like there's something going on. Someone's
15:53
Speaker 2: hoof's upset, someone else is not eating, someone else is
15:56
Speaker 2: having a baby. Like everything is going on on a farm.
15:59
Speaker 2: Vets right in.
16:00
Speaker 3: Yeah, No, he's probably more excited than I am.
16:04
Speaker 2: I love it. I love it. At least he and
16:05
Speaker 2: I are on the same page. We can see the vision,
16:07
Speaker 2: we can see the investment that we're making today. All right,
16:11
Speaker 2: tell me a little bit more. I want to know.
16:12
Speaker 2: You're obviously saving for rotations, but what is your big
16:16
Speaker 2: money goal? What are you working towards.
16:18
Speaker 3: I'm a bit weird. I don't really have a big
16:20
Speaker 3: money goal. One thing that it's sort of sitting in
16:24
Speaker 3: the back of my mind talking to a few of
16:26
Speaker 3: the lecturers and stuff, is my university accreditation is slightly
16:30
Speaker 3: different to some of the other unis and it doesn't
16:34
Speaker 3: actually allow you to practice in North America. Oh once
16:38
Speaker 3: I graduate.
16:39
Speaker 2: So and is that a very big restriction for you
16:41
Speaker 2: at this point? Inside?
16:43
Speaker 3: No, it's not. But I have been like chatting with
16:46
Speaker 3: a few of the lecturers at UNI. Some of them
16:48
Speaker 3: have said, if you want to sit your North American
16:52
Speaker 3: exams straight after you graduate, because that's when you know
16:55
Speaker 3: the most because you've already been studying for your final exam.
16:58
Speaker 3: You've been cramming so and then once you sit it
17:01
Speaker 3: and if you pass, then you can work anywhere in
17:03
Speaker 3: the world. So it's sort of half in the back
17:06
Speaker 3: of my mind. I've got a brother who's moved over
17:09
Speaker 3: and is living in La and.
17:10
Speaker 2: Oh Okay, so there is a connection there. I was like,
17:12
Speaker 2: where are we going with this? Like, are you moving
17:15
Speaker 2: to the US? Is this like your pipe dream You're
17:17
Speaker 2: going to run away from farming life and you're going
17:19
Speaker 2: to live that big La life as a vet for
17:22
Speaker 2: tiny chuaurs.
17:23
Speaker 3: No, No, it's more of because I've been to America
17:25
Speaker 3: and I really enjoyed the countryside. It kind of be
17:28
Speaker 3: a bit of fun to go over there for a
17:31
Speaker 3: year or two. The option, Yeah, that's it.
17:34
Speaker 2: Financially, what does that mean for you? Like are the
17:37
Speaker 2: exams expensive? Do you have to go there to sit them?
17:40
Speaker 3: Like?
17:40
Speaker 2: What does that look like?
17:41
Speaker 3: They are expensive? I haven't looked it up exactly, but
17:45
Speaker 3: when talking to lectures, they said it's probably about fifteen
17:47
Speaker 3: thousand Australia just.
17:49
Speaker 2: To do the exams. Yeah, fifteen thousand dollars.
17:53
Speaker 3: Yeah, and I'm actually there's a local vet who's from
17:57
Speaker 3: France who's having to sit his Northern Australian Accreditation to
18:01
Speaker 3: be licensed to work in Australia. Yeah, and he's he
18:05
Speaker 3: failed one exam and he's got to reseit it, and
18:08
Speaker 3: so you've got to pay to reset it again.
18:10
Speaker 2: No, what is it in Australia in comparison.
18:14
Speaker 3: I'm not even sure.
18:15
Speaker 2: But that's not even a study, Like that's like worth
18:18
Speaker 2: what a unit's about five grand ish, give or take,
18:21
Speaker 2: depending on what university you're going to and what you're studying.
18:24
Speaker 2: That's three units just to sit an exam. Yeah, that's
18:27
Speaker 2: like a whole semester, nearly worth of money that is
18:30
Speaker 2: just going to be flushed down the drain so you
18:32
Speaker 2: can write on some paper and get an a credit.
18:33
Speaker 3: I can't.
18:34
Speaker 2: I can't. That's so expensive.
18:36
Speaker 3: Yeah.
18:37
Speaker 2: No, so your big money goal is to sit the
18:40
Speaker 2: North American Exam potentially.
18:42
Speaker 3: Yeah, potentially, failing that, I might buy a new horse
18:45
Speaker 3: or something instead.
18:46
Speaker 2: Yeah, like that's exactly what I was thinking. I was like,
18:49
Speaker 2: if I don't do the exams, I'm just going to
18:51
Speaker 2: buy a horse. Do you already have horses?
18:54
Speaker 3: We've got five horses at the moment, but they're a
18:58
Speaker 3: mix of bag got two that are sort of being
19:02
Speaker 3: able to have written and then an old retiree or
19:06
Speaker 3: two old retirees and a miniature pony who's basically just
19:09
Speaker 3: a companion.
19:10
Speaker 2: Oh. I love old horses. I feel like they have
19:13
Speaker 2: so much attitude and then kind of already know. They're like,
19:16
Speaker 2: you're not going to ride me, You're just gonna feed me,
19:18
Speaker 2: and you're gonna pat me, and you're gonna brush me,
19:20
Speaker 2: and I'm going to live my best life. And also
19:23
Speaker 2: I'm going to have the attitude of a young horse.
19:26
Speaker 2: I love them.
19:26
Speaker 3: That sums up our thirty year old horse exactly. They know.
19:30
Speaker 2: It's like they're way smarter than we ever are. They're like,
19:32
Speaker 2: we've gained the system, We've gotten to this age, and
19:35
Speaker 2: now I'm going to live my best life.
19:36
Speaker 3: Mm hm, that's them.
19:38
Speaker 2: Horses are expensive, though. Is that something that you have
19:41
Speaker 2: to allocate in your personal budget or is that like
19:43
Speaker 2: a farm expense or how does that work?
19:45
Speaker 3: It's sort of between the two if I want to
19:49
Speaker 3: go riding at events or anything that's personal. Same with
19:53
Speaker 3: any gear that I need to purchase, I sort of
19:56
Speaker 3: I kind of own well, I do own two of
19:59
Speaker 3: the five outright, and then the others are more of
20:03
Speaker 3: like a able to be well, they're stock horses, so
20:06
Speaker 3: part of the farm sort of we go fifty to fifty.
20:08
Speaker 3: But like a lot of the time farrier costs, which
20:11
Speaker 3: are every six six, six to eight weeks, it costs
20:16
Speaker 3: probably around the five hundred dollars.
20:19
Speaker 2: And is that for each horse or is that no,
20:22
Speaker 2: that's for all five, all five, so it's about one
20:25
Speaker 2: hundred dollars a horse every six to eight weeks. That's
20:27
Speaker 2: an expensive haircut. So for those of you following along,
20:30
Speaker 2: farrier costs where a farrier comes in and like cuts
20:34
Speaker 2: the horses nails and puts new shoes on and makes
20:36
Speaker 2: sure that they're all okay. They're kind of like, I
20:39
Speaker 2: don't know, a horsey pedicure.
20:41
Speaker 3: You would say, yeah, yeah, that's it.
20:43
Speaker 2: So five hundred bucks, that's so much money.
20:46
Speaker 3: And that's probably cheaper than a lot of other people pay.
20:50
Speaker 3: Costs very depending on where you are in the country,
20:53
Speaker 3: but it's not a cost that you can skimp on
20:55
Speaker 3: because obviously horses are big animals and if their feet
20:58
Speaker 3: aren't right then they'll go lame.
21:01
Speaker 2: And yeah, no, absolutely, And you mentioned before you might
21:04
Speaker 2: buy a new horse. I'm just going to take a
21:06
Speaker 2: stab in the dark and make an assumption that most
21:08
Speaker 2: people listening to the show right now have no idea
21:11
Speaker 2: what a horse costs. So could you tell me how
21:14
Speaker 2: much does it cost to buy a new horse?
21:17
Speaker 3: Well, just for the horse itself, it really varies in
21:20
Speaker 3: depending on what you're looking for. You could get a
21:22
Speaker 3: horse for free, but often what you pay is what
21:24
Speaker 3: you get. I'd probably be wanting to buy a new
21:28
Speaker 3: stock horse. And at the moment, prices are a bit ridiculous, and.
21:32
Speaker 2: They kind of like use car prices at this point.
21:35
Speaker 2: That's relatable.
21:36
Speaker 3: Yeah, that's exactly it. They're probably for something that's not
21:41
Speaker 3: too old, had a bit of experience. Your sort of
21:44
Speaker 3: minimum would be ten ten thousand dollars.
21:47
Speaker 2: Ten grand. Yeah, and then they cost you five hundred
21:50
Speaker 2: bucks every six to eight weeks, or one hundred dollars,
21:53
Speaker 2: let's be honest, every six to eight weeks. And I'm
21:56
Speaker 2: assuming you don't have any adjustment costs because you keep
21:59
Speaker 2: them on your own property, right.
22:01
Speaker 3: No, I don't have any justment costs at home, but
22:04
Speaker 3: I do take one horse back to UNI with me.
22:08
Speaker 3: They go to UNI with you, Yeah, I take one
22:12
Speaker 3: to UNI with me.
22:13
Speaker 2: Yeah, that's really relatable. What does that cost you?
22:16
Speaker 3: That cost me for a single paddic, it's forty dollars
22:19
Speaker 3: a week.
22:19
Speaker 2: Forty dollars a week doesn't sound too bad. I mean
22:21
Speaker 2: it's cheaper than a gym membership at this point. But
22:25
Speaker 2: do they have to share their paddic with other horses,
22:27
Speaker 2: and like what kind of care and keep happens there?
22:30
Speaker 2: Like do you have to visit every day and feed them?
22:32
Speaker 3: Mine's a private paddock, so it's just my horse in
22:34
Speaker 3: the paddock. I do typically go out daily just to
22:37
Speaker 3: double check. I'm luckier than some in that we produce
22:41
Speaker 3: our own hay here, so if I need to take
22:43
Speaker 3: supplementary food over to care, I just take hay from home.
22:47
Speaker 3: But if I didn't have that option, you'd probably be
22:50
Speaker 3: looking at like a big round bowl of hay which
22:52
Speaker 3: might lost a horse a couple of weeks. That could
22:54
Speaker 3: be anywhere from sixty to one hundred dollars. So I'm
22:59
Speaker 3: very very in that being from a farm, it reduces
23:03
Speaker 3: the costs of my horses dramatically compared to people who
23:08
Speaker 3: aren't as fortunate, but there's still a very expensive.
23:12
Speaker 2: Habit they are and that's why I was like, all right,
23:14
Speaker 2: tell me a little bit more, because they are so
23:16
Speaker 2: expensive and it's one of those things that adds up
23:20
Speaker 2: all the time, and if you don't live on a farm,
23:22
Speaker 2: that cost can be astronomical. And I'm assuming money direst
23:26
Speaker 2: that because of where you're going to UNI, because you're
23:29
Speaker 2: going to UNI regionally as well, it's much cheaper. Whereas
23:32
Speaker 2: I've got friends and this is probably going to shock
23:35
Speaker 2: you who live closer to the city and they're paying
23:38
Speaker 2: five hundred dollars a week for a paddock close to
23:41
Speaker 2: them because they obviously, you know, they're inner city and
23:44
Speaker 2: they want to make sure that they can ride all
23:46
Speaker 2: the time. And I'm like that provily just showing my friend.
23:49
Speaker 3: Yeah, no, that doesn't really surprise me at all, because yeah, well,
23:52
Speaker 3: my adjustment place is someone's farm around the town. With
23:57
Speaker 3: the UNI is they've taken advantage of a bit of
24:00
Speaker 3: land they weren't using and divide it up into horse paddocks.
24:03
Speaker 3: And obviously because the UNI's there. You got influx of
24:06
Speaker 3: kids who've got horses, so it's a bit of extra
24:08
Speaker 3: income for the farmer.
24:10
Speaker 2: Absolute genius. I love that so much. All Right, let's
24:13
Speaker 2: get back on track. I've got a lot of questions
24:16
Speaker 2: for you, and we're going to get to them right
24:18
Speaker 2: after this break. All right, money, Dirist, we are back,
24:25
Speaker 2: and I am loving this conversation. I feel like it's
24:27
Speaker 2: very educational, but it's also very wholesome, like it's very
24:30
Speaker 2: salt of the earth. I'm very excited to learn a
24:33
Speaker 2: lot more about you and your I guess journey. In
24:36
Speaker 2: your letter into us, you said that you are steadily
24:40
Speaker 2: growing your investments, both in shares and four legged investments.
24:45
Speaker 2: So my next question is what are your investments, how
24:48
Speaker 2: do they work and how do they walk?
24:51
Speaker 3: So I have a couple of shares accounts. I have
24:55
Speaker 3: one with Westpac that I've got about thousands dollars in,
24:59
Speaker 3: and then I also so open to Chazy's account this
25:02
Speaker 3: year just for that ease of the smaller transactions, whereas
25:08
Speaker 3: WESTPACX obviously limited to a five hundred dollars minimum buy.
25:11
Speaker 2: Yeah, that's hard, hey, especially as a UNI student on
25:14
Speaker 2: a lower income it's like, well, that's not that common, guys.
25:18
Speaker 3: Yeah, no, I thought I loved the idea of, you know,
25:21
Speaker 3: investing with as little as a cent from chass.
25:23
Speaker 2: It's pretty sexy, isn't it? Just the idea, just like
25:27
Speaker 2: it's not even coffee money. It's less than coffee money,
25:30
Speaker 2: like the coffee I'm drinking right now. Five dollars fifty
25:33
Speaker 2: what an absolute raw? Do you know how many shares
25:35
Speaker 2: I could have bought?
25:35
Speaker 3: I know, it's been awesome. I love chair Zya's for that.
25:38
Speaker 3: I also love I've set up so I've got about
25:41
Speaker 3: I think it's a checked this morning. It's worth nine
25:45
Speaker 3: hundred and eighty dollars at the moment, and I've set
25:47
Speaker 3: up a auto invest for ten dollars a week, which
25:51
Speaker 3: is I've give it up into be I think it's
25:53
Speaker 3: a dollar per ten shares that I've gotten there, and
25:56
Speaker 3: they're mostly dividend shares.
26:00
Speaker 2: I love this so much because you just told me
26:03
Speaker 2: that you have a Westpac investment platform, right and there's
26:06
Speaker 2: a thousand dollars on there right now, which means you've
26:09
Speaker 2: probably invested let's say twice, or you've done like one
26:12
Speaker 2: big lot, right. But you said, oh, I went to
26:15
Speaker 2: chare Z's because I couldn't afford the west Pack. But
26:18
Speaker 2: you've basically got the same amount on Chaz's as you
26:22
Speaker 2: do on west Pack, because I'm assuming you didn't realize
26:25
Speaker 2: how quickly things would add up and from little things,
26:27
Speaker 2: big things really do grow. So it's basically going to
26:30
Speaker 2: overtake what your west Pack is if you keep doing
26:33
Speaker 2: that all to invest of ten dollars a week, right,
26:36
Speaker 2: and it just feels so much more, I guess, palatable
26:39
Speaker 2: and easy to invest. So I'm making a grand assumption
26:42
Speaker 2: here that your Chares's account is going to overtake your
26:44
Speaker 2: west Pack account, and then it won't make a lot
26:47
Speaker 2: of sense to invest at a five hundred dollars minimum
26:49
Speaker 2: because you're like, well, I've got the same things on
26:51
Speaker 2: both platforms.
26:52
Speaker 3: Yeah, no, it is. I used to look at west
26:55
Speaker 3: Pack a fair bit, but now I sort of almost
26:58
Speaker 3: giving it flick At the minute. I'm focusing on chairs
27:02
Speaker 3: Eas because yeah, it's just exciting watching it.
27:04
Speaker 2: Grow and the platform, I mean, I obviously work with them,
27:07
Speaker 2: so I'm quite you could say bias, but I also
27:11
Speaker 2: invest on Chaseeas. I just feel like it's so aesthetic,
27:13
Speaker 2: like it looks cute. I feel like a pro investor.
27:16
Speaker 2: That's like aesthetic. At the same time, it's ten out
27:19
Speaker 2: of ten from me. Anyway, what else do you invest in?
27:22
Speaker 2: Because I know it's not just Westpac in chairs, eas
27:25
Speaker 2: I do.
27:25
Speaker 3: Have about almost ten thousand dollars in my super at
27:28
Speaker 3: the moment.
27:29
Speaker 2: Oh what that's so good for your age and so
27:32
Speaker 2: good for the fact that you've worked internationally and haven't
27:36
Speaker 2: really worked let's say, like full proper jobs. You could
27:40
Speaker 2: say you've been doing a lot of farm work, which
27:42
Speaker 2: often is a little bit cash in hand, a little
27:45
Speaker 2: bit on the side. How good's that ten grand? How
27:48
Speaker 2: have you managed that?
27:50
Speaker 3: I don't actually know. I suppose it was probably most
27:52
Speaker 3: of it's been kicked in from the eighteen months of
27:56
Speaker 3: my first gap years I worked full time at home. Yeah,
28:00
Speaker 3: and then obviously I do guess a fair chunk that
28:04
Speaker 3: goes in when I work with Dad every year and
28:06
Speaker 3: then harvest as well. So it's just been exciting to
28:11
Speaker 3: watch that grow.
28:12
Speaker 2: How good? And is that something that you have had
28:15
Speaker 2: an eye on or is that something where you're like, oh,
28:17
Speaker 2: I just know I've got ten grand in there. Have
28:19
Speaker 2: you actively chosen your super account and what's going on
28:22
Speaker 2: there or is that just something that's just kind of like.
28:24
Speaker 3: Rolled on well up until recently, it was something I
28:27
Speaker 3: just signed up for a while ago. But this year,
28:30
Speaker 3: chatting with an aunt of mine who's been a bit
28:33
Speaker 3: excited about talking investments with me, I love her. Yeah, No,
28:37
Speaker 3: I love her too. I've actively changed it this year
28:41
Speaker 3: to the lowest fees still with a growth seventy five
28:46
Speaker 3: percent growth account through host plus. So trying to minimize
28:51
Speaker 3: costs and maximize growth.
28:53
Speaker 2: Of How smart? All right, four Legged investments? Tell me
28:57
Speaker 2: a bit more about how that works. Are you trying
28:59
Speaker 2: to tell me that you are classifying your horses in investments?
29:04
Speaker 3: No?
29:04
Speaker 2: No, I mean they're not, because they're costing you five
29:07
Speaker 2: hundred dollars every six to eight weeks. And I mean
29:10
Speaker 2: they might increase in value, but you'd have to sell them.
29:13
Speaker 2: And judging by the look on your face when you
29:15
Speaker 2: were telling me about your horses, I don't think they're
29:18
Speaker 2: going anywhere, my friend.
29:19
Speaker 3: No, No, they're definitely a cost rather than an asset. No,
29:24
Speaker 3: my four legged investments are actually my cows, which I
29:28
Speaker 3: have fifteen of currently.
29:31
Speaker 2: How does that work? Did you buy the cows? Did
29:34
Speaker 2: you get given the cows, Like, what's the process as
29:38
Speaker 2: somebody who has never owned a cow as an investment.
29:42
Speaker 3: So in my first gap year twenty eighteen, it was
29:46
Speaker 3: a draft iss year, and just by chance, when our
29:50
Speaker 3: cows were carving, there was one calf that none of
29:53
Speaker 3: the cows wanted. We didn't know if she was a
29:55
Speaker 3: twin or if her mother had just rejected her.
29:58
Speaker 2: Oh you just found her out in the paddic all alone.
30:01
Speaker 3: Yeah, my grandparents found her and was sort of like, oh,
30:03
Speaker 3: we don't actually know whose mum she is. Oh ba,
30:07
Speaker 3: I was gifted her by my grandparents because she was
30:09
Speaker 3: out of one of my grandparents' cows to raise as
30:12
Speaker 3: a potty calf. And then a couple of weeks later,
30:16
Speaker 3: another coward calve, but the coward died, so the calf
30:20
Speaker 3: was without a mum, so I got her as well.
30:23
Speaker 2: So now we were at two cows.
30:25
Speaker 3: Two cows. And then a couple months later neighbors who
30:30
Speaker 3: were selling some cows who had just happened to have carved,
30:34
Speaker 3: but they weren't going to sell the calves. He rang
30:36
Speaker 3: me and was like, hey, I've got a calf here
30:38
Speaker 3: for you. So I told him I wouldn't mind one
30:40
Speaker 3: of his. So I got another calf for the price
30:45
Speaker 3: of a rum slab for Oh that's a pretty good deal,
30:47
Speaker 3: it is. So that's like eighty bucks or something, and
30:50
Speaker 3: then the other two for free, and then obviously raised
30:54
Speaker 3: those three. And then because they were all females, they
30:57
Speaker 3: were whatever age they were ready to be joined, we're joined.
31:01
Speaker 3: And every year since then they've all had a calf
31:05
Speaker 3: for me, which is pretty exciting.
31:07
Speaker 2: Oh my gosh, have you've just been multiplying your little car.
31:10
Speaker 3: Yeah, that's it. And so if we have a girl
31:13
Speaker 3: who have a heafer calf, she stays here and has
31:15
Speaker 3: bred when she's old enough, but if they've had boyclves,
31:19
Speaker 3: they all get sold to the feed lot. So I'm
31:21
Speaker 3: at fifteen now, which is five adult cows with five
31:25
Speaker 3: calves at foot, and then five sort of teenager winner cows,
31:31
Speaker 3: four of which are heifers, and one is a steer
31:33
Speaker 3: who's actually due to be trucked out tomorrow, so that'll
31:36
Speaker 3: be a bit of money in the bank. But everyone
31:39
Speaker 3: else is will be nine joined this year for so
31:43
Speaker 3: potentially nine more calves born next year, so it's sort
31:47
Speaker 3: of growing itself.
31:49
Speaker 2: Oh my gosh. They're multiplying. So tell me a bit
31:51
Speaker 2: more about the financials of this, because I think farming
31:55
Speaker 2: is really important to have a bit more transparency around,
31:58
Speaker 2: because I feel like a lot of it is lacking,
32:01
Speaker 2: and I feel like a lot of people are going
32:02
Speaker 2: to be confused and go by Victoria. You're a vegan,
32:04
Speaker 2: you don't eat meat and I don't, but I fully
32:06
Speaker 2: believe in good farming and making sure that the animal
32:10
Speaker 2: is respected. And while I might not eat it, this
32:13
Speaker 2: is people's livelihood and we aren't going to be talking
32:16
Speaker 2: about I guess whether you would or wouldn't, Like I'm
32:19
Speaker 2: not against it by any stretch of the imagination. So
32:22
Speaker 2: I want to know what does it cost to raise
32:24
Speaker 2: a caulf? And then obviously, if it's a girl, it
32:26
Speaker 2: stays with you and then it grows into I guess
32:29
Speaker 2: a cow that can produce more calves. But if it's
32:32
Speaker 2: a boy, it gets sold off. What's that cost? What
32:35
Speaker 2: are we making here?
32:36
Speaker 3: Like?
32:36
Speaker 2: What type of investment returns have we got? Should like
32:39
Speaker 2: we be at cheese on the money, start considering cows
32:41
Speaker 2: as an investment asset.
32:43
Speaker 3: Well, the first the original three probably were the most
32:47
Speaker 3: expensive in terms.
32:48
Speaker 2: And they were all girls, weren't they?
32:50
Speaker 3: Yeah, all girls. They were probably the most expensive because
32:53
Speaker 3: they were orphans. We were feeding them milk repliser for
32:57
Speaker 3: the first couple of months, and that stuff isn't particularly cheap.
33:01
Speaker 3: It's around I think one hundred to two hundred dollars
33:04
Speaker 3: for a twenty kilo bag. Yeah, sort of only lasts
33:10
Speaker 3: Oh no, a week maybe or two, it's been so
33:12
Speaker 3: long and can't remember.
33:13
Speaker 2: But this is going to sound really dumb, really really dumb.
33:17
Speaker 2: Why are we buying milk replace I can't they just
33:19
Speaker 2: drink milk? Can't we buy milk?
33:21
Speaker 1: Like?
33:21
Speaker 2: Is that an option?
33:22
Speaker 3: Not? Really? Sort of got to feed the milk place.
33:25
Speaker 3: It's got all, you know, proteins in facts that are
33:28
Speaker 3: very similar to what they would have been getting. Okay,
33:30
Speaker 3: our own.
33:30
Speaker 2: Mother, I told you it was a dumb question.
33:33
Speaker 3: And because obviously it's nice and warm when I make
33:36
Speaker 3: it up, make it up with warm water for them,
33:38
Speaker 3: So it's a luxury.
33:40
Speaker 2: Oh so they're spoiled.
33:42
Speaker 3: Yeah, that's it. That's why podycas love whoever's raising them.
33:46
Speaker 2: Yeah, because they're getting the good stuff. They know what's up.
33:49
Speaker 2: They're not silly.
33:51
Speaker 3: Yeah, no, it's not silly. So probably to raise those
33:56
Speaker 3: three might have been my time. We wean them off.
33:59
Speaker 3: The milk could have cost up to two sort of
34:02
Speaker 3: twelve hundred dollars.
34:03
Speaker 2: Oh my gosh, that's so much money.
34:05
Speaker 3: But factoring in that they were all females, we sort
34:11
Speaker 3: of an average price you get for a steer who
34:15
Speaker 3: we sell to the feed lots. We sell ours into
34:19
Speaker 3: a it's a specialty program for short horned cattle, which
34:24
Speaker 3: are the breed that we have, and they're sort of
34:26
Speaker 3: branded their end products, like the steak and stuff is
34:30
Speaker 3: branded with a special like thousand guineas program, which basically
34:34
Speaker 3: says that it's of a certain quality. So we're probably
34:37
Speaker 3: getting a slight premium.
34:39
Speaker 2: Yeah, because they grew up on milk replacer. They're no
34:43
Speaker 2: little cows.
34:44
Speaker 3: Yeah, so obviously the price fluctuates, but i'd say on
34:48
Speaker 3: average for maybe a three hundred kilo steer, which is
34:52
Speaker 3: sort of three hundred and fifty kilo steer, which is
34:54
Speaker 3: the weights that we're sort of sending them off at,
34:57
Speaker 3: it could be depending on the year, between one thousand
35:00
Speaker 3: to fifteen hundred dollars for a steer, but al my steers,
35:05
Speaker 3: if they've come from mum, don't cost me a great
35:08
Speaker 3: deal in terms of productions. It's just sort of management
35:11
Speaker 3: costs that go in, so vaccination and drench which might
35:14
Speaker 3: be roughly maybe thirty dollars ahead.
35:18
Speaker 2: Oh okay, that's not too bad. And I mean you
35:20
Speaker 2: obviously already have this setup, so this isn't something that
35:23
Speaker 2: that's normal people can do. Like you've already got the paddock,
35:25
Speaker 2: you've already got like a farm y. It's all good
35:27
Speaker 2: to go from there. And this is, yeah, obviously an
35:30
Speaker 2: absolute privilege. But I find it so interesting to know
35:33
Speaker 2: the difference between genders. Is that normal? So is that
35:37
Speaker 2: what everybody else does? Like, if we are eating steak,
35:41
Speaker 2: is it very likely to be male as opposed to
35:43
Speaker 2: female because females are kept to breed.
35:45
Speaker 3: Yeah, it actually is. And the feed lots want the
35:48
Speaker 3: males for sort of growth rates.
35:51
Speaker 2: And I'm assuming they're bigger, right, Yeah, bigger, grow a
35:54
Speaker 2: bit faster, and you actually get premium for male carcasses
35:59
Speaker 2: when they go through like an avatar or something.
36:02
Speaker 3: I don't really want females.
36:03
Speaker 2: Oh, so, like the gender gap exists even in the
36:07
Speaker 2: farming world. Interesting, it's it. I'm just rallying for everybody now,
36:11
Speaker 2: not just the two leg good friends. I'm also rallying
36:14
Speaker 2: for our four leg good friends.
36:15
Speaker 3: But yeah, I'd rather be a female.
36:17
Speaker 2: Yeah. Same. I want to know next, do you have
36:19
Speaker 2: any debts? If so, what are they.
36:21
Speaker 3: My only debt is my HEX debt, which is quite
36:25
Speaker 3: substantial at the moment, it's sitting at around after indexation.
36:30
Speaker 3: The other day, it's almost thirty nine thousand.
36:35
Speaker 2: And what did you think about indexation? Obviously it's a
36:37
Speaker 2: bit of a shock to be told. Alright, Hex and
36:39
Speaker 2: healthdats are going to be indexed at seven point one percent.
36:41
Speaker 2: What was your thought pattern around that, because at the
36:44
Speaker 2: end of the day, thirty nine thousand dollars is basically
36:47
Speaker 2: your entire annual salary.
36:49
Speaker 3: Yeah, I mean it's obviously not ideal, Like I think
36:53
Speaker 3: ours went up by almost two and a half thousand
36:55
Speaker 3: dollars it was the indexation. But for me at this
37:01
Speaker 3: point of my life, I don't see that help debt
37:07
Speaker 3: as being such a bad thing because I know I
37:11
Speaker 3: will find a job once I graduate and I will
37:14
Speaker 3: start paying it off. Obviously i'd prefer it not to
37:16
Speaker 3: be so high, but probably fortunate in that position that
37:22
Speaker 3: I'm in an industry where they're currently is a shortage
37:27
Speaker 3: of vets, so I'll be able to find a job
37:31
Speaker 3: and negotiate a pretty good, you know, starting salary because
37:35
Speaker 3: people just need vets.
37:36
Speaker 2: What kind of salary do you expect that to be?
37:39
Speaker 3: Well, just looking around at the moment at a lot
37:41
Speaker 3: of new grad jobs that are sort of being offered
37:44
Speaker 3: at the moment, I think a lot of them are
37:47
Speaker 3: starting at that seventy thousand dollars a year upwards, depending
37:52
Speaker 3: But you know, if they can't offer you a great salary,
37:55
Speaker 3: like well, if they've got a certain salary cap, a
37:58
Speaker 3: lot of them have you know, extra like you know,
38:00
Speaker 3: a work vehicle or even some might have accommodation and
38:04
Speaker 3: stuff like that that can sweeten the deal.
38:08
Speaker 2: How good? I finding this genuinely so interesting. I want
38:11
Speaker 2: to know now, though, what do you think your best
38:14
Speaker 2: money habit is?
38:16
Speaker 3: Sometimes I think I don't have any I.
38:19
Speaker 2: Beg to differ. Like, having heard a lot of your story,
38:22
Speaker 2: you wait till we get to the end of this episode.
38:24
Speaker 2: There will be some debate around that.
38:26
Speaker 3: See, my friends, I've probably actually setting up like my
38:33
Speaker 3: auto investments with chess, and then I've also got I've
38:37
Speaker 3: set up whenever sudden link comes in I send forty
38:39
Speaker 3: dollars into my savings account and just sort of maybe
38:43
Speaker 3: taking an active interest in what my money is doing
38:48
Speaker 3: and just trying to think about ways where I can
38:51
Speaker 3: grow either the savings or the investments. Yeah, and what.
38:56
Speaker 2: Do you think your worst habit is?
38:58
Speaker 3: Well, just big picture horses is probably my worst habit.
39:04
Speaker 3: With most expensive habit. Sometimes I go for a bit
39:08
Speaker 3: of an impulse buy. It's either actually no, I've weaned
39:11
Speaker 3: myself off horse related impulse buyers in the last few
39:17
Speaker 3: years and instead impulse buying of a garden, so plants
39:22
Speaker 3: and stuff like that feels. Yeah, I'm a sucker for
39:25
Speaker 3: a good plant.
39:26
Speaker 2: I can relate to that. Absolutely. I wish I would
39:29
Speaker 2: stop killing them because they are becoming very bad investments.
39:33
Speaker 2: Money Diarist, we have talked a lot. This is going
39:36
Speaker 2: to be a very long episode. I apologize, But if
39:38
Speaker 2: you're still here and you're still listening, you've probably found
39:41
Speaker 2: it just as interesting as I have. But at the
39:44
Speaker 2: very start of this episode, I asked you what would
39:46
Speaker 2: you rate your money habits, and you said s C.
39:48
Speaker 2: But then you went on to tell us about how
39:50
Speaker 2: you've been casually working and absolutely hustling and doing farm
39:53
Speaker 2: work and doing casual work, and then you told me
39:55
Speaker 2: about your two gap years and how one of those
39:58
Speaker 2: gap years you know you were earning a full time
40:00
Speaker 2: time salary and you're currently saving for rotations, and you
40:03
Speaker 2: care about your superannuation like you've even gone and put
40:06
Speaker 2: it into another account, like you've set it all up
40:09
Speaker 2: so it makes sense for you. You're currently investing in
40:11
Speaker 2: Chasias and in Westpac and in four legged friends, Like,
40:15
Speaker 2: I feel like you arguably have your shit together, my friend,
40:19
Speaker 2: why do you think you're a C? And if you
40:22
Speaker 2: still think you're a C, what do you think would
40:24
Speaker 2: get you to an A?
40:25
Speaker 3: I probably think still see just why for the fact.
40:29
Speaker 2: So many people are yelling right now, my friend, can't
40:31
Speaker 2: you hear them?
40:33
Speaker 3: It's probably more to do with I probably don't save
40:36
Speaker 3: enough of my money, like from the settling that comes
40:39
Speaker 3: in fortnitely. I think I sort of am often in
40:43
Speaker 3: that first week spending it on a lot of things,
40:47
Speaker 3: whether it be food that I don't need, impulse buys
40:50
Speaker 3: at the supermarket, and then so by the time I
40:53
Speaker 3: get to the end of the second week, it's sort
40:55
Speaker 3: of like, oh, do I need to transfer out of
40:58
Speaker 3: my savings? Account to make it through. And yeah, I
41:02
Speaker 3: think horses. Horses. Horses are the bane of my savings
41:07
Speaker 3: account at the moment, because just when I think I've
41:09
Speaker 3: grown it back up, someone will need some kind of
41:12
Speaker 3: emergency vet bill that brings it back down again.
41:16
Speaker 2: That's farm life, right, like, it just can't all go well.
41:18
Speaker 2: I understand horses. They are a very expensive habit. I
41:21
Speaker 2: understand impulse buys. I feel like we could rain that
41:23
Speaker 2: in a little bit. Everybody could write like I am
41:26
Speaker 2: so good at the supermarket if I'm not hungry. If
41:29
Speaker 2: I'm hungry, though, oh my gosh, I buy absolutely everything.
41:32
Speaker 2: But you said something before that I think is really
41:34
Speaker 2: important to touch on. And I mean, you are in
41:37
Speaker 2: a very different position than a lot of people, just
41:39
Speaker 2: because obviously, like you've got the farm work, you've got
41:42
Speaker 2: a lot of other stuff going on. But you said
41:44
Speaker 2: you're not saving enough of your scentiling, and I just
41:47
Speaker 2: need to reframe that. And you're probably not going to
41:48
Speaker 2: like this, and please know this is coming from a
41:50
Speaker 2: place of love. But if you are getting scentiling, you're
41:53
Speaker 2: not meant to be saving it like you are. And
41:56
Speaker 2: that's great because you're obviously like saving up for rotations.
41:58
Speaker 2: But I don't want people listening to this going, oh
42:00
Speaker 2: my gosh. If I'm on Centilinc, I should be saving often.
42:04
Speaker 2: Centerlink is not nearly enough to save and invest and
42:08
Speaker 2: create a secure financial future. It's enough to get by.
42:11
Speaker 2: It's enough to do the grocery shopping and put a
42:13
Speaker 2: roof over your head. And that's kind of the intention
42:16
Speaker 2: of it, and I mean that in a really nice way.
42:18
Speaker 2: I promise money direst It's like a take a little
42:20
Speaker 2: bit of pressure off yourself because you're not meant to
42:23
Speaker 2: in this season of your life be able to save
42:26
Speaker 2: and invest and be a baller and do all of
42:28
Speaker 2: those things on thirty eight thousand dollars. Like, unfortunately, that
42:32
Speaker 2: is not nearly enough to create the life that you've
42:34
Speaker 2: told me about. Like the idea that you're going to
42:37
Speaker 2: have to budget a thousand dollars a week for rotations
42:41
Speaker 2: blows my mind, Like that is so much money, and
42:44
Speaker 2: that's actually so much more money than most people in
42:47
Speaker 2: our community earn each week. Like that to me is insane,
42:49
Speaker 2: and I'm so glad that you're doing it. But I
42:51
Speaker 2: don't want anyone listening to this and feeling like, oh
42:53
Speaker 2: my gosh, like, oh, I'm on centerlink and she's saving
42:56
Speaker 2: that so great, Like obviously for our money direst there's
42:59
Speaker 2: so much much privilege and that's really beautiful and it's
43:01
Speaker 2: really great. But Mandy, do I just take some pressure off,
43:04
Speaker 2: like your uni, you're being a bullet in general, you're
43:08
Speaker 2: gonna become a vet and vets my friends they do
43:10
Speaker 2: quite well, so we're gonna be okay. I mean, you
43:13
Speaker 2: might not make a lot of money if you just
43:14
Speaker 2: do all of your work for your dad, So we
43:16
Speaker 2: probably need to negotiate that because I have a sneaky
43:19
Speaker 2: suspicion he has no intention of paying you. And if
43:21
Speaker 2: I was your father, I wouldn't either, you know, like
43:24
Speaker 2: you were born into a farming family, Like you didn't
43:26
Speaker 2: come here to get paid, my friend. But I just
43:29
Speaker 2: think everybody needs to take a little bit of pressure
43:31
Speaker 2: off themselves, and this is one of the first times
43:34
Speaker 2: they don't want to be like, no, you can put
43:36
Speaker 2: your seat in the bin, because I don't believe it.
43:38
Speaker 2: Usually I tell people, oh, my gosh, like I would
43:40
Speaker 2: never argue with you over your grade, Like your grade
43:43
Speaker 2: is your grade, my friend, Nah, you're off the mark,
43:46
Speaker 2: absolutely not.
43:47
Speaker 3: Yeah, No, No, I'm absolutely in a privileged position. I
43:52
Speaker 3: just feel like I think I need to not so
43:55
Speaker 3: much as save the settling, but maybe even move half
43:58
Speaker 3: of it so that I don't spend it all at will.
44:00
Speaker 2: Yeah, so you can like you've got a lot to
44:02
Speaker 2: pay for in the future. So I can completely understand
44:05
Speaker 2: where that anxiety is coming from. I just didn't want
44:07
Speaker 2: anyone to listen to that and go, oh my gosh,
44:09
Speaker 2: I should be doing the same, because that's not the
44:12
Speaker 2: intention at all. But money doros. This has been a
44:15
Speaker 2: beautiful episode. I am so grateful. Unfortunately I do have
44:18
Speaker 2: to run away, but thank you so much for your story.
44:21
Speaker 2: Thank you so much for your time. I am so
44:23
Speaker 2: grateful that we got to spend arguably this whole hour together.
44:27
Speaker 3: No, thank you so much for having me. It's been fantastic.
44:36
Speaker 2: The advice shared on She's on the Money is generally
44:39
Speaker 2: nature and does not consider your individual circumstances. She's on
44:43
Speaker 2: the Money exists purely for educational purposes and should not
44:46
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44:49
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