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Conquering Buy Now, Pay Later Debt · She's On The Money

0:00
Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud Order
0:05
Speaker 1: Order Kerney Whoalbury and a waddery woman. And before we
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Speaker 1: get started on She's on the Money podcast, I would
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Speaker 1: like to acknowledge the traditional custodians of the land of
0:14
Speaker 1: which this podcast is recorded on a wondery country, acknowledging
0:18
Speaker 1: the elders, the ancestors and the next generation coming through
0:23
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
0:31
Speaker 1: and lasting impact for tomorrow.
0:33
Speaker 2: Let's get into it.
0:34
Speaker 3: She's on the Money, She's on the Money.
0:57
Speaker 4: Hello, and welcome to She's on the Money the podcast
1:00
Speaker 4: Millennials who want financial freedom. Welcome back to another one
1:04
Speaker 4: of our money diaries where I get the absolute pleasure
1:07
Speaker 4: of sitting down with one of our She's on the
1:09
Speaker 4: Money community members and talking to them all about their
1:12
Speaker 4: money story. Let's jump straight into it, because this week
1:15
Speaker 4: we got a message and it sounded exactly like this. Hi,
1:19
Speaker 4: She's on the Money team. I wanted to share my
1:22
Speaker 4: money story to inspire those struggling with consumer debt. From
1:26
Speaker 4: a young age, I was exposed to bad debts my
1:28
Speaker 4: family had. This led me to believe that as long
1:31
Speaker 4: as I made the minimum repayments, it didn't matter how
1:34
Speaker 4: much I borrowed. At eighteen, I applied for multiple buy
1:38
Speaker 4: now pay later accounts without considering the consequences, even though
1:42
Speaker 4: I had no job and relied on Centrelink payments. I
1:45
Speaker 4: became irresponsible with money, maxed out my zip pay and
1:49
Speaker 4: zip money, and couldn't pay off my after pay account,
1:52
Speaker 4: leading to debt collectors chasing me. I was a victim
1:56
Speaker 4: of lifestyle creep and never had more than five hundred
1:59
Speaker 4: dollars in saving, which I often spent on shopping or bills.
2:03
Speaker 4: In twenty twenty three, I decided to take control. I
2:07
Speaker 4: got a job earning sixty five thousand dollars a year.
2:10
Speaker 4: I started paying down my debts one at a time,
2:12
Speaker 4: and now at twenty four, I'm consumer debt free and
2:16
Speaker 4: I've deleted all my buy now pay later accounts. Money, Diarist,
2:21
Speaker 4: that is so exciting.
2:23
Speaker 2: Thank you, I'm so so excited. I'm sure you can
2:26
Speaker 2: understand the weight lifted off my shoulders every time I
2:29
Speaker 2: think you know my debts, Yeah, not having to pay
2:32
Speaker 2: for it and actually having money left over from paying
2:35
Speaker 2: all my bills.
2:36
Speaker 4: Obviously, no one goes into debt on purpose, right, Like
2:40
Speaker 4: you don't get buy now, pay later accounts, so that
2:43
Speaker 4: you've got debt collectors chasing you. Like not one person
2:45
Speaker 4: would say that's exactly what I wanted to be. But
2:48
Speaker 4: then you end up there, and I think that once
2:51
Speaker 4: you are there, it feels overwhelming and all consuming and
2:54
Speaker 4: you just don't feel like you can get ahead. But
2:56
Speaker 4: the anxiety that you feel around your phone or you
3:01
Speaker 4: checking your emails or your mailbox, like you just know
3:05
Speaker 4: that you're not in the right position. Now that that's
3:08
Speaker 4: been lifted, Can you imagine yourself going back there?
3:11
Speaker 2: Absolutely not, Absolutely not. I think now that I'm on
3:15
Speaker 2: the other side, I often, you know, look back and
3:19
Speaker 2: look at my eighteen year old self and be like,
3:21
Speaker 2: why did you even do that? What was the reason?
3:24
Speaker 2: But I think now it's it's given me, I guess,
3:27
Speaker 2: so much, a lesson to just look back to whenever
3:32
Speaker 2: I think about wanting to get back on that. Yeah,
3:35
Speaker 2: it's such a great feeling and I want to stay
3:37
Speaker 2: here forever.
3:38
Speaker 4: I love that and I feel that because that's exactly
3:41
Speaker 4: what I went through. Let's jump in a little bit
3:43
Speaker 4: deeper because I want to ask so many questions about
3:45
Speaker 4: your money story. But before we get there, money Diarist,
3:48
Speaker 4: if I asked you to give your money habits a
3:50
Speaker 4: grade from A through to F, what would you say
3:52
Speaker 4: they are today?
3:53
Speaker 2: I would say that I'm a CS Ooh.
3:56
Speaker 4: Okay, tell me a bit more about that. Let's dive
3:59
Speaker 4: a little bit. Can you tell me a bit more
4:02
Speaker 4: about your money story?
4:03
Speaker 2: Absolutely so. Growing up, when it comes to debts, my
4:07
Speaker 2: family always said, as long as it's being paid, it
4:09
Speaker 2: doesn't really matter. So obviously I took that to heart,
4:13
Speaker 2: and when I turned eighteen, all I wanted was a
4:15
Speaker 2: credit card and or buy now, pay later apps so
4:18
Speaker 2: that I could start shopping. Because my belief was that
4:22
Speaker 2: it was free money as long as I was making
4:24
Speaker 2: the minimum repayments. And because of this mindset, I, like
4:28
Speaker 2: I said, I quickly found myself drowning in so much
4:30
Speaker 2: debt and wrapped up ten thousand dollars worth of consumer debts,
4:35
Speaker 2: and for years I didn't know how I'd get out
4:38
Speaker 2: of it. I was constantly stressed about money, and I
4:42
Speaker 2: became super insecure about money and pretty much attached my
4:46
Speaker 2: worth to those debts. And then I met my partner,
4:50
Speaker 2: who showed me a whole different way of thinking about finances.
4:55
Speaker 2: I remember his mum telling me, you know, don't get
4:57
Speaker 2: a credit card unless you know how to use it responsibly.
5:00
Speaker 2: And at the time, I had just maxed out on
5:02
Speaker 2: a new credit card and felt so embarrassed.
5:04
Speaker 4: And You're like, yeah, yeah, totally, yeah, I agree with you.
5:08
Speaker 4: I would never.
5:10
Speaker 2: Do you know what's funny you say that, because that's
5:12
Speaker 2: exactly what I was saying, like, oh, that's that's exactly
5:14
Speaker 2: what I learned at And then in my head I'm like,
5:16
Speaker 2: oh my god. Yeah, I'm like, there's absolutely no way.
5:20
Speaker 4: It's such a funny position to be in now that
5:23
Speaker 4: you look back on it, right, because I was exactly
5:25
Speaker 4: the same, Like I remember my friends being like, oh,
5:27
Speaker 4: I would never get a credit card, and I'm sitting
5:29
Speaker 4: there being like, yeah, so neither, of course, of course.
5:34
Speaker 4: And I literally just signed up to a person alone.
5:36
Speaker 1: Yeah.
5:37
Speaker 2: I don't know where we were, but yeah, she said that,
5:39
Speaker 2: And that stuck to me because obviously I had a
5:41
Speaker 2: credit card and I was applying for a higher credit
5:45
Speaker 2: limit because I'm like, oh, I've already maxed out, like
5:47
Speaker 2: I want to use more and in my head, I'm like, yeah, no, honestly,
5:50
Speaker 2: nobody should have a credit card if they're not using
5:53
Speaker 2: it responsibly. And then there I am applying for a
5:56
Speaker 2: higher credit limit, so the rules don't.
5:59
Speaker 4: Apply to our right, Like it's not to do as
6:02
Speaker 4: I say, not as I do.
6:03
Speaker 2: Kind of fine, exactly exactly.
6:05
Speaker 4: And I think that's what's so funny about it, right, Like,
6:08
Speaker 4: obviously being in deck sucks, there's nothing funny about it.
6:11
Speaker 4: But now you're on the flip side, you can kind
6:13
Speaker 4: of reflect on your own actions. And I can almost
6:16
Speaker 4: guarantee if you and I were having that chat while
6:18
Speaker 4: you were applying and I said, should people have a
6:20
Speaker 4: credit card, you'd be like, VI, of course not, that's
6:23
Speaker 4: really irresponsible. And then you're like, give me two minutes.
6:25
Speaker 4: I'm just going to fill in this application exactly, and
6:28
Speaker 4: I'll be right back with you exactly.
6:30
Speaker 2: I come home and yeah, I applied.
6:32
Speaker 4: It's until you can kind of break that cycle and
6:35
Speaker 4: something happens. Because I think that that's why I don't
6:39
Speaker 4: regret being in that debt, Like I feel like a
6:42
Speaker 4: lot of the time people like I wish I never
6:44
Speaker 4: went through that, and like, yeah, I wish I had
6:46
Speaker 4: that money back too. I really wish that I didn't
6:49
Speaker 4: do that, But that's maybe why now I see how
6:52
Speaker 4: important it is, I see how deeply it impacts people.
6:55
Speaker 4: It's why I get to do what I do every day.
6:57
Speaker 4: And I think it's why I value what we have
7:00
Speaker 4: now even more because I know what it's like to
7:03
Speaker 4: not be in that situation. Do you think that that's
7:07
Speaker 4: now part of your narrative?
7:08
Speaker 2: One hundred And like you said, you know, some people,
7:12
Speaker 2: when they get out of debt and you know, be
7:14
Speaker 2: financially responsibile, they look back and say, I wish I
7:17
Speaker 2: had never gone down that route. But for me, I
7:19
Speaker 2: was actually so so grateful that that was my situation
7:24
Speaker 2: because I was able to really, I guess, break down
7:27
Speaker 2: that generational trauma in my family regarding debts and be
7:31
Speaker 2: the first person in my family to say, you know,
7:33
Speaker 2: we don't need to have debts to be able to
7:36
Speaker 2: have whatever we want. We can save towards it and
7:39
Speaker 2: we can really have, you know, those smart goals to
7:42
Speaker 2: be able to get whatever we want. So you know, I,
7:46
Speaker 2: I'm really really grateful, even though I was so stressed
7:49
Speaker 2: and I didn't know how I was going to get
7:52
Speaker 2: out of it. You know, you can still prove that
7:54
Speaker 2: you can get out of it. It takes a lot
7:56
Speaker 2: of time, it takes a lot of hard work, but
7:58
Speaker 2: if you really want to, you can definitely do it.
8:01
Speaker 4: Looking back on it, do you feel like that was
8:04
Speaker 4: a really really hard step, because obviously, when you grow
8:07
Speaker 4: up with a certain lifestyle, stepping beyond that and doing
8:11
Speaker 4: something that you've got no experience with is really overwhelming
8:14
Speaker 4: and really daunting. Like what what did you experience growing up? So,
8:19
Speaker 4: I know in your money story you said that you know,
8:22
Speaker 4: growing up, you know you were exposed to bad debts
8:25
Speaker 4: that your family had. What was their take? How did
8:27
Speaker 4: they act around money?
8:29
Speaker 2: So growing up, I guess there was already some sort
8:32
Speaker 2: of like a buy now, pay later situation. But because
8:36
Speaker 2: I grew up in the Philippines, we would have people
8:40
Speaker 2: come to our house with like magazines and then you
8:43
Speaker 2: would pick out whatever products you want and then they'd
8:45
Speaker 2: bring it over to the house and then you'll pay
8:47
Speaker 2: it in installments. And so that's what I was exposed
8:50
Speaker 2: to most of the time, with you know, my my
8:52
Speaker 2: mom or my aunties would be going through like do
8:55
Speaker 2: shopping on that magazine and just check whatever they want
8:59
Speaker 2: and I you know, money was never really an issue
9:02
Speaker 2: for them because again, like they said, you know, as
9:04
Speaker 2: long as we can pay it off, that's fine, and
9:06
Speaker 2: so you just keep on going and keeping going, and
9:09
Speaker 2: growing up, we never really spoke about money. All I
9:12
Speaker 2: knew at the time was that my mum and my
9:15
Speaker 2: dad went to work to provide for us, and I
9:18
Speaker 2: never felt the struggle because obviously there's always food on
9:22
Speaker 2: the table, there's always you know, there's roof over our heads,
9:25
Speaker 2: and so we were never taught anything about managing money.
9:30
Speaker 2: We were never taught about not having any debts. Especially
9:35
Speaker 2: in my country. If you owe someone and that someone
9:38
Speaker 2: ask you the money that you owed, they'd actually get
9:41
Speaker 2: angry because I know that I owe you money, but
9:44
Speaker 2: like you don't stop asking me. I'll give it to
9:47
Speaker 2: you when I want to type thing. So it's a
9:50
Speaker 2: really really really toxic environment or really toxic mindset when
9:54
Speaker 2: it comes to debts. Back home, I wouldn't say it's,
9:58
Speaker 2: you know, part of the culture, but I'm just saying
10:00
Speaker 2: for my family, that's what I was exposed to. So
10:05
Speaker 2: when I was being chased by debt collectors from after pay,
10:08
Speaker 2: I actually in my head at the time I'm like,
10:10
Speaker 2: just ignore them, they'll go away. But being in a
10:13
Speaker 2: different country, it's actually really really different because they won't
10:16
Speaker 2: go away, just absolutely not. So yeah, it's so different.
10:22
Speaker 2: It's different cultures, different mindsets that I've been exposed to.
10:26
Speaker 2: And I think when I finally you know, I guess
10:28
Speaker 2: it was like a switch last year when I turned
10:31
Speaker 2: twenty three, when my partner and I decided to move
10:33
Speaker 2: out of our family homes and rent a place together.
10:36
Speaker 2: Suddenly I had real responsibilities. You know, our bills I
10:39
Speaker 2: never had to pay for when I lived with my parents,
10:42
Speaker 2: And that's when I found myself really really struggling and
10:46
Speaker 2: the transition for me was tough. So I had to
10:49
Speaker 2: obviously do something about it. And yeah, I just told
10:53
Speaker 2: myself be consumer debt free by before you turn twenty five.
10:57
Speaker 4: I love this and you've definitely achieved that. Yeah, how good.
11:01
Speaker 4: I Also, while you were talking, I was thinking about
11:04
Speaker 4: how times have changed, because you were talking about the
11:06
Speaker 4: magazine coming around, and while we didn't have that for
11:09
Speaker 4: a lot of products, we definitely had things when I
11:12
Speaker 4: was growing up, like Avon, like so they had like
11:15
Speaker 4: the book and it was kind of like cosmetics, and
11:17
Speaker 4: you did exactly the same thing. And yeah, I feel
11:19
Speaker 4: like over time, being able to spend money and get
11:23
Speaker 4: into debt has just got more and more accessible. So
11:26
Speaker 4: even if your parents were in debt and they were
11:28
Speaker 4: making the minimum repayments and they were let's just say,
11:33
Speaker 4: financially irresponsible, and you were experiencing that, I feel like, potentially,
11:38
Speaker 4: historically it was not as bad. And I won't say
11:41
Speaker 4: it was not crippling, like it must have been really
11:43
Speaker 4: hard and money was stressful. But the world is so
11:46
Speaker 4: much bigger now, Like I can do that with literally
11:49
Speaker 4: any product at any time of the day, Like I
11:51
Speaker 4: don't need to wait for a magazine to come to
11:53
Speaker 4: my house. I can just jump online. Like at the
11:56
Speaker 4: moment moneyed diarrest, I'm breastfeeding, So like at three, if
12:00
Speaker 4: I am on my phone while breastfeeding because I don't
12:03
Speaker 4: want to fall asleep, I'm like, oh, that looks nice.
12:06
Speaker 4: I'll have that, Like it's a slippery slope. I can
12:08
Speaker 4: literally do it. Twenty four seven. Absolutely, I feel like
12:12
Speaker 4: now we can get ourselves in even more trouble. And
12:16
Speaker 4: I just feel like that isn't spoken about enough because
12:19
Speaker 4: we talk about these generational cycles, and you're correct, it was,
12:23
Speaker 4: you know, a toxic mindset, and you've moved past that,
12:26
Speaker 4: But like the slope is really slippery for us. If
12:29
Speaker 4: we are in this position where that's not that bad,
12:32
Speaker 4: no worries, we fall down so many more stairs than
12:35
Speaker 4: our parents were ever able to because once you maxed out, zippay,
12:39
Speaker 4: don't worry. You can go get after pay. Don't worry
12:41
Speaker 4: about after pay. You can get a credit card. Oh,
12:43
Speaker 4: don't worry about a credit card. You can get a
12:44
Speaker 4: personal loan. Oh, there's so many options. Don't worry about it.
12:48
Speaker 4: And I feel like that compounding is something that our
12:52
Speaker 4: parents never had to go through, and now that you know,
12:55
Speaker 4: people like you and I in our generation, we're doing
12:58
Speaker 4: it and then we get so crippled by it that
13:01
Speaker 4: we just draw a line in the sand and go
13:04
Speaker 4: absolutely not never again, because our parents never got to
13:07
Speaker 4: that point where it was as crippling as it is
13:10
Speaker 4: for us. Do you feel like that's a part of
13:12
Speaker 4: the narrative as well?
13:13
Speaker 3: Yeah?
13:13
Speaker 2: Absolutely, And I think the most important thing as well
13:17
Speaker 2: to that I realized and I learned as well, is
13:21
Speaker 2: that once you get out of debt, it doesn't mean
13:24
Speaker 2: that you're fully fully out of debt, because if your
13:27
Speaker 2: mindset is still the same as before when you were
13:29
Speaker 2: in debt, you'll continue to go back to that cycle
13:33
Speaker 2: and it'll be like a rotating door of getting out
13:37
Speaker 2: of debt, going back into debt, getting out of debt,
13:39
Speaker 2: and going back into debt. And I think the most
13:41
Speaker 2: important thing to also, you know, keep yourself motivated to
13:45
Speaker 2: get out of debt is to really think about your
13:47
Speaker 2: goal and your why as to why you want to
13:50
Speaker 2: be out of debt and why you're working so hard
13:53
Speaker 2: to be out of debt. Is because I finally paid
13:56
Speaker 2: off my zip pay. There was a time where I
13:59
Speaker 2: was sitting down on the couch and I was so bored,
14:02
Speaker 2: just so easy, right, Yeah, I was so bored, and
14:04
Speaker 2: I you know, I'm like, oh, I want to I
14:06
Speaker 2: want to buy this pair of shoes. But I only
14:09
Speaker 2: had like what twenty dollars in my account after paying
14:11
Speaker 2: off all of my bills, and I was like, do
14:13
Speaker 2: you know what, I'll just apply on zipay. I'll just
14:16
Speaker 2: spend one hundred dollars on zip pay and then pay
14:18
Speaker 2: it off and then close it again. And you know,
14:20
Speaker 2: I had to catch myself really quickly like no, because
14:23
Speaker 2: that's not where we are able to Yeah, that's not
14:26
Speaker 2: who we are we are anymore, So it takes a
14:29
Speaker 2: lot of discipline to not go back to that after
14:32
Speaker 2: just coming out of that situation.
14:34
Speaker 4: One hundred percent. And because we are humans, humans inherently
14:38
Speaker 4: do not like change. So going back to a cycle
14:41
Speaker 4: that you know, even though you don't love it, you
14:43
Speaker 4: know it. You go, that's predictable, I know exactly what
14:46
Speaker 4: will happen. I can you know, work with that outcome.
14:49
Speaker 4: It's hard to go from there to a completely different
14:53
Speaker 4: mindset of going, well, what do you mean? And this
14:55
Speaker 4: layer of instant gratification versus delayed gratification comes to it.
15:00
Speaker 4: It's been an instant gratification Gali, for your whole life.
15:02
Speaker 4: You were always used to just getting it, and now
15:04
Speaker 4: you've got to wait, like what do you mean? Like
15:07
Speaker 4: I'm not used to that. Like that doesn't feel good.
15:09
Speaker 4: I don't know why we're here. So it can be
15:12
Speaker 4: so hard to slip back into the cycle. I want
15:16
Speaker 4: to know. You mentioned that having clear goals and having
15:19
Speaker 4: a clean mindset makes you know the whole thing work right,
15:23
Speaker 4: So tell me what are your big money goals? What
15:26
Speaker 4: are you working towards?
15:27
Speaker 2: So I have a few big money goals. So my
15:30
Speaker 2: big money goal is to have a fully funded emergency fund.
15:34
Speaker 2: Like I said in my entry, I never ever had
15:37
Speaker 2: an emergency fund or never even had a savings account
15:41
Speaker 2: over five hundred dollars, So I really really want to
15:44
Speaker 2: have a fully funded emergency fund, and also pay off
15:47
Speaker 2: my remaining car loan. And then my partner and I
15:50
Speaker 2: would like to start traveling, so I'd like to start
15:53
Speaker 2: building a travel fund bucket as well and put money
15:56
Speaker 2: towards that too. And then lastly is to save and
15:59
Speaker 2: fund my side hustle and hopefully hopefully grow that to
16:02
Speaker 2: the point where that can be my full time job
16:04
Speaker 2: in the future.
16:05
Speaker 4: Oh how inciding. I'll ask you a little bit more
16:08
Speaker 4: about that. But I feel like emergency fund, fully funded,
16:12
Speaker 4: perfect goal. I love that. Tell me where are we
16:15
Speaker 4: at with that?
16:15
Speaker 2: To be completely honest, where are our fifty dollars?
16:18
Speaker 4: So you do have an emergency fund?
16:20
Speaker 2: Slay slay, Yeah, yeah, we'll we'll say, yeah, it's not zero.
16:23
Speaker 2: At least it's not zero. Yeah, we're at fifty dollars.
16:26
Speaker 2: But now, because we have quite a bit of traveling
16:29
Speaker 2: to do this year, I had to spend quite a
16:33
Speaker 2: bit on necessities for that.
16:35
Speaker 4: But that's epic because you're not in debt and you
16:37
Speaker 4: have an emergency fund like the structure exists, and for
16:41
Speaker 4: most of us, that's the hardest part to set up.
16:44
Speaker 2: Yeah, yeah, adore that.
16:45
Speaker 4: All right, let's go to a really quick break on
16:47
Speaker 4: the flip side. I want to ask you a bit
16:49
Speaker 4: more about this hide hustle you mentioned and how you're
16:52
Speaker 4: planning to take it to full time. And I also
16:55
Speaker 4: want to know a little bit more of the pervy
16:56
Speaker 4: details around that, car Loan, So don't go anywhere, guys.
17:03
Speaker 4: All right, Money Diarist, we are back and we are
17:06
Speaker 4: having honestly the best chat. I feel like Money Doars
17:08
Speaker 4: are my favorite because I get to make friends with
17:11
Speaker 4: all of the diarists that come on the show, and
17:14
Speaker 4: today is literally no different. But let's start right back in.
17:18
Speaker 4: I want to know what do you do for work
17:19
Speaker 4: and how much money do you earn?
17:21
Speaker 2: So I work in talent acquisitions ooh fancy, Yeah, specifically
17:25
Speaker 2: in the early childhood industry where a higher early childhood
17:28
Speaker 2: professionals and all levels from trainees to teachers, and currently
17:32
Speaker 2: I earn seventy five thousand dollars after tax.
17:34
Speaker 4: Oh, I love this. I love in your money story.
17:37
Speaker 4: You said I got a job earning sixty five thousand
17:40
Speaker 4: dollars a year in twenty twenty three. Is that a
17:43
Speaker 4: ten thousand dollars pay rise in literally twelve months?
17:46
Speaker 1: A girl?
17:47
Speaker 4: What how good is that? Did you negotiate that? Did
17:50
Speaker 4: you just take on a different role? Did they come
17:52
Speaker 4: to you and say, money, diarist, we're just going to
17:54
Speaker 4: pay you more? Like what happened?
17:56
Speaker 2: So really really interesting story. Actually when I I think
18:00
Speaker 2: it was started this year. I decided to leave for
18:04
Speaker 2: personal reasons and it was to fund my side hustles.
18:07
Speaker 2: But something's happened and I ended up finding myself going
18:12
Speaker 2: back to that job. And I pretty much just spoke
18:15
Speaker 2: to my old manager. And because we have a really
18:17
Speaker 2: really good relationship and I left on really great terms,
18:21
Speaker 2: I go back to her and I said, hey, look,
18:23
Speaker 2: I'd love to come back. And I said, you know,
18:26
Speaker 2: if there's any room for some sort of you know, raise,
18:31
Speaker 2: I would be happy to discuss. And I didn't tell
18:34
Speaker 2: her any figures, I didn't tell her how much I wanted.
18:36
Speaker 2: I just said, you know, if there's any room for
18:38
Speaker 2: you to, I guess give me a raise that would
18:41
Speaker 2: be amazing, no matter how much. And she came back
18:43
Speaker 2: to me with a raise and a promotion, which is.
18:47
Speaker 4: I'm sorry what you were like, Hey I quit bye,
18:50
Speaker 4: and then you turned around and said, hey, I want
18:52
Speaker 4: to come back, but I'm more expensive now. And they
18:54
Speaker 4: were like, yeah, sure, come this way. Yeah, do you
18:57
Speaker 4: want your emotion while we're here. We'll give you a
18:59
Speaker 4: better job, hopefully you'll stay this time.
19:02
Speaker 2: Yeah. So I realized that my side hustles wasn't going
19:06
Speaker 2: to be my goal at this stage.
19:09
Speaker 4: Yeah.
19:09
Speaker 2: Yeah, So I went back to them, and I was
19:12
Speaker 2: really embarrassed at the time, but then you know, in
19:15
Speaker 2: this economy, girl, there's no need to be embarrassed. Just
19:18
Speaker 2: go back to them.
19:18
Speaker 4: There's nothing embarrassing about taking a chance and then going
19:22
Speaker 4: back and being like, hey, it didn't work out the
19:24
Speaker 4: way I thought it would. I really still like to
19:27
Speaker 4: be here. We don't have to burn bridges, Like how
19:30
Speaker 4: is that?
19:31
Speaker 2: Yeah, And they were very very amazing about it. So, yeah,
19:34
Speaker 2: I got from so I was a talent acquisition coordinator
19:38
Speaker 2: and then they promoted me to talent advisor with a
19:42
Speaker 2: ten K raise.
19:43
Speaker 4: Oh I love this, this is very very sexy. Tell
19:46
Speaker 4: me a bit more. About these side hustles, Like obviously
19:49
Speaker 4: it didn't go full time just yet, but at the
19:51
Speaker 4: start of the episode, you said, maybe one day. What
19:54
Speaker 4: do you do? How does it work?
19:55
Speaker 2: I make candles. Yeah, so I had actually started it
20:00
Speaker 2: during COVID, but I had to stop because I guess
20:03
Speaker 2: I just lost passion for it at the time, and
20:05
Speaker 2: I want to get back into my career, which was
20:07
Speaker 2: an early childhood educator. And now I guess, you know,
20:11
Speaker 2: the passion is still there and I really would like
20:13
Speaker 2: to do it, but I wanted to do it correctly,
20:16
Speaker 2: and I didn't want to get into any loans or
20:18
Speaker 2: any debts just to fund it, and so I really
20:22
Speaker 2: want to save up for it. And when I'm ready,
20:26
Speaker 2: which we're actually going to be launching soon, but I'm
20:29
Speaker 2: still going to keep my full time job, I will
20:31
Speaker 2: be going into it and just work on my side
20:34
Speaker 2: hustle while focusing on my nine to five at this stage.
20:36
Speaker 4: I love that will send me a link because while
20:39
Speaker 4: we'll keep it anonymous on here, if you hypothetically see
20:43
Speaker 4: a candle business, it may or may not be someone
20:45
Speaker 4: that's been a money diarist. How good, Yeah, money direst
20:50
Speaker 4: I want to know what do you think about investment?
20:52
Speaker 4: Are you investing? Are you not investing? What's the plan?
20:54
Speaker 4: Have you thought about it? How does that work?
20:57
Speaker 2: I love it? I absolutely do. I actually learned about
21:00
Speaker 2: investment through you and through listening to different podcasts, and
21:04
Speaker 2: so I have a Shareza's account. Unfortunately, last year I
21:09
Speaker 2: had to pull out all of my money out of
21:11
Speaker 2: that shares Ease account. But I've just started again this year,
21:14
Speaker 2: so currently I have seventy dollars in shares.
21:16
Speaker 4: Hold On, hold on, hold on, I'm hearing some negative
21:19
Speaker 4: mind frame stuff going on here. What do you mean unfortunately?
21:23
Speaker 4: Are you saying I actually had a Sharez's account. There
21:26
Speaker 4: was some cash in there and I got to pull
21:27
Speaker 4: it out to achieve a goal, or I got to
21:29
Speaker 4: pull it out to get me out of debt, and
21:30
Speaker 4: now I'm debt free. Like sorry, unfortunate. What was unfortunate
21:34
Speaker 4: about this?
21:35
Speaker 2: Actually, now that you rephrase that, it's not unfortunate. I
21:41
Speaker 2: got to take money out of my account because it
21:43
Speaker 2: actually grew quite a bit and I use that to
21:46
Speaker 2: pay off some of my debts and now without it.
21:49
Speaker 4: It's very sexy. That sounds elite, like that's I think
21:54
Speaker 4: what a lot of people want to hear. We don't
21:55
Speaker 4: want to be like, oh, unfortunately I had to get
21:57
Speaker 4: rid of something.
21:58
Speaker 3: No.
21:58
Speaker 4: Sorry, you're saying that you may money from investing and
22:01
Speaker 4: then that money that you made helped you get out
22:03
Speaker 4: of debt.
22:04
Speaker 2: Yes, that's what I'm saying.
22:05
Speaker 4: Very that's hot. I like hearing that. But you still
22:08
Speaker 4: have a Chazya's account. Yes, is there a bigger investing
22:11
Speaker 4: plan at play, like what does the future look like?
22:14
Speaker 2: Yes, So I wouldn't say that I'm an expert just yet,
22:17
Speaker 2: but I'm definitely learning and learning and learning. I think
22:20
Speaker 2: it's a constant learning experience when it comes to investing.
22:23
Speaker 2: But I do listen to a lot of podcasts, you know,
22:27
Speaker 2: I read about different ETFs, and at this stage, I
22:32
Speaker 2: want to hopefully put two hundred and fifty dollars a
22:35
Speaker 2: month into my Chazy's account and spread that out to
22:39
Speaker 2: Currently I have S and P five hundred, so I
22:41
Speaker 2: want to put more money into that and then the rest.
22:44
Speaker 2: I'm sort of leaning more towards like clean energy ETFs
22:50
Speaker 2: or anything I guess natural and eco friendly. So I
22:53
Speaker 2: like that.
22:54
Speaker 4: How good she knows what she wants and she's going
22:57
Speaker 4: to chase it. Absolutely when you download the Cheza's app,
23:00
Speaker 4: I get lots of people messaging me going the oh
23:03
Speaker 4: my gosh, I downloaded Chazy's. Now what And obviously I
23:07
Speaker 4: can't give you advice onto what to purchase, But when
23:10
Speaker 4: you downloaded the app, did you know what you were
23:12
Speaker 4: going to purchase? Or did you download the app and
23:15
Speaker 4: then have to do some research after? Like how did
23:18
Speaker 4: you come to purchase the SMP five hundred. I know
23:21
Speaker 4: it's a really popular one in our community for those
23:23
Speaker 4: of you playing along at home. It's basically the top
23:25
Speaker 4: five hundred companies in an ETF, so it's well diversified.
23:30
Speaker 4: You don't have to you know, five five hundred different
23:32
Speaker 4: shares to get access to five hundred different companies, which, okay,
23:35
Speaker 4: that's really easy and really sexy, but like, how did
23:39
Speaker 4: you choose that? Why did you choose that?
23:40
Speaker 2: To be honest, it was from just watching videos, from
23:43
Speaker 2: watching tiktoks and also just I guess getting to know.
23:48
Speaker 2: The return over over the years in s and P
23:51
Speaker 2: five hundred has always been I would say positive, So
23:55
Speaker 2: it's not like I'm gonna obviously, like you know, put
23:57
Speaker 2: money in it in one year and then pull it
23:59
Speaker 2: out of the neck. I think now that I'm completely
24:01
Speaker 2: debt free, I can be more you know, committed to it.
24:04
Speaker 2: And I guess, you know, more long term for me
24:08
Speaker 2: would be S and P five hundred. So yeah, I
24:10
Speaker 2: think I learned from YouTube, learn from TikTok, and I thought, yeah,
24:14
Speaker 2: might as well.
24:14
Speaker 4: I love this? Can I be real pervy? And it's
24:17
Speaker 4: just because like I love following money content creators? Are
24:20
Speaker 4: you following on TikTok that we should be following that
24:22
Speaker 4: gives a bus on this?
24:24
Speaker 2: Like you? I listen to girls that invest.
24:28
Speaker 4: I love her, Yeah, sim Is there is amazing.
24:30
Speaker 2: Yeah, she's amazing.
24:32
Speaker 4: We love seeing.
24:32
Speaker 2: I also listen to Tash invests. Oh yeah, yeah, yeah great,
24:36
Speaker 2: and also she's on the money okay slay.
24:39
Speaker 4: But like, we don't post nearly enough content talking about this,
24:43
Speaker 4: and I need to get back on TikTok, but I
24:45
Speaker 4: kind of feel old there because I just can't keep
24:48
Speaker 4: up with the trends. I really can't. But then also
24:52
Speaker 4: I'm always like, has it been too long? Like should
24:54
Speaker 4: I just quit and run away? Like you know, when
24:56
Speaker 4: you just can't get back in the groove of something,
24:58
Speaker 4: like I just I pick up my phone and I'm
25:00
Speaker 4: like not today, Satan, not today.
25:04
Speaker 2: Yeah, can I've been.
25:04
Speaker 4: Doing that for more than a year. That's so loudy
25:07
Speaker 4: of me.
25:08
Speaker 2: Completely understand that. But yeah, no, I actually I listen
25:11
Speaker 2: a lot to obviously that she's on the Money podcast,
25:14
Speaker 2: especially when it comes to learning about investing. One oh
25:17
Speaker 2: one never hurts to refresh my knowledge about that.
25:20
Speaker 4: I love it all right. I want to know a
25:22
Speaker 4: little bit more about debt. Before you said I am
25:25
Speaker 4: consumer debt free. I have no buy now, pay later
25:28
Speaker 4: accounts anymore, shut all of those. But you did mention
25:31
Speaker 4: you have a car loan, so is that your only debt?
25:34
Speaker 4: And can you tell me a bit more about that?
25:36
Speaker 4: I want to know the perfect details, like do we
25:37
Speaker 4: have a huge car, how much is there? Like what
25:40
Speaker 4: color is she?
25:41
Speaker 2: I'm glad you asked that because I actually have a
25:43
Speaker 2: really Some people find it funny when I tell them
25:46
Speaker 2: about my car story, but I think it's a manifestation queen.
25:49
Speaker 4: Oh, I love these.
25:51
Speaker 2: My dream car before was a Range Rover, so I
25:56
Speaker 2: wanted Arrange Rover with red interior and interior. That is
26:02
Speaker 2: so niche Yeah, so, I for some reason, I just
26:06
Speaker 2: like the white exterior and then red interior. Get it.
26:08
Speaker 4: I get it. She's a queen who knows what she likes.
26:11
Speaker 2: But I obviously didn't have range Rover money. So I
26:16
Speaker 2: got the next best thing, which was a Toyota Corolla.
26:19
Speaker 4: And so similar. I get it, I get it.
26:22
Speaker 2: I love it. It's very reliable. I love her. She's
26:24
Speaker 2: really cute. But I went to the dealer. It was
26:27
Speaker 2: during COVID and I went to the dealer and I said,
26:30
Speaker 2: I don't know how we're going to make this happen,
26:32
Speaker 2: but I want a white exterior in a red interior.
26:35
Speaker 4: So, oh my gosh, they would have been like in
26:37
Speaker 4: a Corolla bang.
26:40
Speaker 2: And so I got the top of the range Corollas
26:43
Speaker 2: that are I think it was twenty twenty one, and
26:45
Speaker 2: it was red and black interior, which is you know, close.
26:48
Speaker 4: Off, close good and also like, I feel like a
26:52
Speaker 4: red interior is so niche that they wouldn't be many
26:55
Speaker 4: of those at all. Is she white?
26:57
Speaker 2: Yes, yes, she's got the.
26:59
Speaker 4: White car with the red interior. Yeah, like Manifestation Bran,
27:04
Speaker 4: but miss Jessicci would be very proud of you.
27:07
Speaker 2: Thank you. Yeah. So I'm not the same brand, but
27:11
Speaker 2: in my head, the more I drive this car, the
27:13
Speaker 2: more I think I'm driving a range Rover, so you know,
27:15
Speaker 2: maybe it's going to come soon. I know that this
27:18
Speaker 2: is going to sound incredibly entitled, but I used to
27:20
Speaker 2: drive a range Rover, and I can tell you that
27:24
Speaker 2: they are not the best cars to drive, very iconic like,
27:27
Speaker 2: and I felt like when I bought this car, oh
27:30
Speaker 2: my gosh, all of my tumbler dreams came true. Like
27:34
Speaker 2: ever since I was like sixteen, I used to save
27:37
Speaker 2: and pin all the images of the hot girl with
27:40
Speaker 2: the range Rover and all I wanted, like I wanted
27:43
Speaker 2: the range Rover evoke black on black. And when I
27:45
Speaker 2: finally had what I called big girl money and was
27:49
Speaker 2: relatively irresponsible, I went and got one. She brought me
27:52
Speaker 2: nothing but problems. We do not have her anymore. But
27:56
Speaker 2: I feel like you dodged a bullet, babe, Like.
27:59
Speaker 4: I don't think I've met anyone who's owned arrange Rover
28:02
Speaker 4: and been like, yeah, very great car, doesn't cost me
28:04
Speaker 4: anything to service, Like no one says that. So I
28:08
Speaker 4: got it. I realized the errors of my way, and
28:11
Speaker 4: then we've moved on.
28:12
Speaker 2: Yeah, and now now that I've got my Corolla, my
28:15
Speaker 2: my little Corolla, I love her, don't want to let
28:17
Speaker 2: it go. So, you know, I think I struggod.
28:21
Speaker 4: Car exactly, someone that's going to be there, be consistent.
28:25
Speaker 4: Tell me more about how much she costs. What's your
28:28
Speaker 4: car loan at? How did that work?
28:30
Speaker 2: So my carlone is sitting at seventeen thousand dollars at
28:33
Speaker 2: the moment with an interest rate of two point seventy
28:36
Speaker 2: one percent, So I locked that in during COVID.
28:38
Speaker 4: Sorry, what for a car loan? Yes to you, yep,
28:41
Speaker 4: that's very attractive, especially in this economy.
28:45
Speaker 2: Absolutely, I'm so grateful. Oh my gosh.
28:48
Speaker 4: I mean, if you're going to get a car loan,
28:50
Speaker 4: that's the one I would want.
28:51
Speaker 2: Absolutely, absolutely. And it's funny because I didn't know anything
28:54
Speaker 2: about interest rates before.
28:56
Speaker 4: To me, it was so you didn't even know how
28:58
Speaker 4: good you had it.
28:59
Speaker 2: No, No, I didn't until my partner said, you know,
29:02
Speaker 2: told me about his interest rate, and I thought, oh
29:04
Speaker 2: my god, why would you do that? Exactly criminal? But yeah, no.
29:10
Speaker 2: I asked my financial dealer and I asked, you know,
29:14
Speaker 2: how much is my interest rate on this car, which
29:16
Speaker 2: is to no p sos I called three point seventy
29:17
Speaker 2: one percent. I'm like, oh cool, okay, cool, cool, cool.
29:21
Speaker 2: We are good.
29:23
Speaker 4: Ye, we're not going to be changing that. And how
29:25
Speaker 4: much did you lend to begin with?
29:27
Speaker 2: Yeah? I think it's around the thirty Yeah, thirty five.
29:30
Speaker 4: How good's that? You've really been knocking it on the head.
29:33
Speaker 2: Yeah. It was during COVID, so it was the best
29:36
Speaker 2: time to.
29:36
Speaker 4: Negotiate, Yeah, totally.
29:38
Speaker 2: Yeah, before I even learned how to negotiate properly. I
29:42
Speaker 2: think I got that car from forty down to thirty five.
29:46
Speaker 4: Oh, very nice.
29:48
Speaker 2: I didn't put down any yeah down payment.
29:51
Speaker 4: How good is that? I love that for us? Yeah,
29:54
Speaker 4: So what's the plan to getting rid of this rest
29:57
Speaker 4: of the seventeen thousand dollars owing in your car?
29:59
Speaker 2: So, so next year we're planning to move back into
30:03
Speaker 2: my partner's parents' house, and that'll actually drastically put all
30:09
Speaker 2: like our responsibilities down to just paying rent or board. Yeah.
30:13
Speaker 2: I'm hoping to aggressively pay for that seventeen thousand next
30:17
Speaker 2: year and hopefully not have that on my record anymore
30:21
Speaker 2: by the time I turn twenty six and have a
30:22
Speaker 2: fully paid off car.
30:23
Speaker 4: Oh my gosh, I love that. So tell me a
30:25
Speaker 4: bit more about this move, because moving into your partner's parents' house,
30:29
Speaker 4: big move if you've moved out by yourselves, but also
30:32
Speaker 4: an airpic financial decision because you can kind of like
30:36
Speaker 4: cut down all your costs save a whole heap. Like
30:39
Speaker 4: it is a massive privilege to be able to do that.
30:41
Speaker 4: But do you have like a game planning You're like,
30:43
Speaker 4: all right, on this day, we're moving in, and then
30:45
Speaker 4: we're gonna budget and say, like what's the ultimate outcome
30:49
Speaker 4: and the decision around or I guess the reason why
30:52
Speaker 4: you're moving back in with them? Obviously money, I would assume.
30:55
Speaker 2: Yeah, absolutely, because, like I said, my partner and I
30:58
Speaker 2: are planning to travel. I would love to travel the
31:02
Speaker 2: world and have a obviously a fully funded emergency fund
31:06
Speaker 2: and all kinds of savings. So we've decided to move
31:09
Speaker 2: back in with his parents, and they were very very
31:12
Speaker 2: kind enough to obviously offer that as well, and very
31:16
Speaker 2: fortunate that I get along with both his mum and
31:19
Speaker 2: his dad, so very very grateful for that. And we
31:23
Speaker 2: wanted to move back in with them because we wanted
31:25
Speaker 2: to save up so that we're able to travel without
31:29
Speaker 2: having to worry about the financial side of things one
31:31
Speaker 2: hundred percent.
31:32
Speaker 4: And like, if you're going to be away, how good
31:35
Speaker 4: I mean, I think that's the ultimate dream, right Like
31:38
Speaker 4: I think anyone who's listening that's moved back in with
31:40
Speaker 4: their parents, that'd be like, look, it's really good, but
31:43
Speaker 4: sometimes you need a bit of a break. I feel
31:45
Speaker 4: like that's true for housemates as well, Like, let's be honest,
31:48
Speaker 4: anyone living in the same space, you just need a
31:50
Speaker 4: bit of a break from them sometimes. Yeah, of course,
31:53
Speaker 4: So how good to move back in and then be
31:55
Speaker 4: able to do the travel along the way like you've
31:58
Speaker 4: cracked the code, babe it.
32:01
Speaker 2: Yeah. I love them very Yeah, and we're very fortunate
32:04
Speaker 2: to have two sets of very supportive parents. My parents
32:07
Speaker 2: are very supportive, so we're his, so we're we're in
32:10
Speaker 2: a really, really lucky situation as well. So yeah, really
32:13
Speaker 2: good love.
32:14
Speaker 4: I know that you've changed your money story over the
32:17
Speaker 4: last few years, gotten out of debt, but what do
32:19
Speaker 4: you reckon your best money habit is?
32:21
Speaker 2: I would say that my best money habit is I've
32:23
Speaker 2: mastered the art of delayed gratification. Unless I absolutely need something, can.
32:28
Speaker 4: You please teach me because I have not? Did you
32:30
Speaker 4: just see me? For those of you playing along, I
32:32
Speaker 4: had to have a brief intermission because someone offered me
32:34
Speaker 4: a donut.
32:36
Speaker 2: That's different because that's free.
32:37
Speaker 4: So yeah, it's true.
32:39
Speaker 2: It's true.
32:39
Speaker 4: It was money. We I'm not money.
32:41
Speaker 2: We there you go.
32:43
Speaker 4: Thank you for reframing that for me. But tell me
32:45
Speaker 4: more about how to work into this delayed gratification.
32:50
Speaker 2: I actually learned that from my partner. Unless I absolutely
32:53
Speaker 2: need something, then I give, you know, myself a few days,
32:56
Speaker 2: if not a week to really think about if I
32:59
Speaker 2: want something or not, and more often than not, I
33:01
Speaker 2: actually forget about it. So I like to think that,
33:05
Speaker 2: you know, I'm saving myself so much money from not
33:07
Speaker 2: going crazy berserk on shopping spree if I don't really
33:12
Speaker 2: need it.
33:12
Speaker 4: I love that, But what was the first step in
33:16
Speaker 4: I guess actually practicing delayed gratification because I think that
33:20
Speaker 4: so many of us would be like, oh my gosh,
33:22
Speaker 4: this money dirist is so right. I need to, you know,
33:25
Speaker 4: think about what I'm spending. I'm going to put twenty
33:28
Speaker 4: four hours between me and my spending. I'm going to
33:31
Speaker 4: listen to V like V is very do as I say,
33:33
Speaker 4: not as I do, just for the record, But I
33:36
Speaker 4: think we need to know what was the first time
33:39
Speaker 4: that that was really pressed? Because I feel like, we
33:42
Speaker 4: can make all the biggest plans in the entire world,
33:44
Speaker 4: and I think we all do, but then you have
33:47
Speaker 4: to actually implement them. I think for me, I guess
33:50
Speaker 4: when I realized that I didn't really need a lot
33:53
Speaker 4: of things was when I was decluttering my bedroom and
33:58
Speaker 4: my bathroom. I had so many unopened skin care products.
34:02
Speaker 4: I had so many clothes that still had tags on them,
34:06
Speaker 4: and I thought, I.
34:07
Speaker 2: Actually don't need any of these. Why did I even
34:10
Speaker 2: buy them? And so I think that made me realize that, like,
34:14
Speaker 2: I better start practicing delayed gratification, otherwise I'm going to
34:18
Speaker 2: be stuck with all these you know products close everything
34:22
Speaker 2: that I actually never needed in the first place.
34:25
Speaker 4: And it could have had some tash in my bank.
34:27
Speaker 2: Exactly, could have had cash in my bank. And now
34:29
Speaker 2: I can't even sell them because they're had a trend.
34:31
Speaker 2: But I'm still keeping them, never know, because trends always
34:34
Speaker 2: come back around.
34:35
Speaker 4: That's true. That's true. Give it ten years, but give
34:38
Speaker 4: it any investment, give it ten.
34:40
Speaker 2: Years their assets.
34:41
Speaker 4: I love this for us. I love that what do
34:44
Speaker 4: you think is your worst money? Haveit easily.
34:47
Speaker 2: My budgeting, I would budget for something and then still
34:50
Speaker 2: go over budget. It's definitely a learning experience, but I
34:54
Speaker 2: think it's just having to allocate money or enough money
34:58
Speaker 2: into a bucket. You know, I guess mastering how much
35:01
Speaker 2: money are put in that bucket and not going over budget.
35:04
Speaker 4: What does that look like? So have you sat down
35:07
Speaker 4: and gone all right, I'm going to create a spreadsheet
35:09
Speaker 4: and I'm going to outline these buckets that you're talking about.
35:12
Speaker 4: And I think that I need, you know, one hundred
35:14
Speaker 4: dollars in that bucket each month. But then you blow it,
35:16
Speaker 4: Like how are you allocating your budget such that it's
35:20
Speaker 4: either working or not working at the moment.
35:22
Speaker 2: I think for me it's I still sort of am
35:28
Speaker 2: still very very strict with my money to the point
35:31
Speaker 2: where it can be unhealthy. Like for example, I would
35:38
Speaker 2: give myself fifty dollars for shopping, and then I'd go
35:42
Speaker 2: to Target and I'd find I think fifty dollars anyway, Yeah,
35:46
Speaker 2: nothing's fifty dollars, Like one T shirt is fifty.
35:50
Speaker 4: Dollars, So it's insane, right.
35:53
Speaker 2: Yeah. We used to go to km up before, and
35:55
Speaker 2: you know, that's where we would go shopping, and fifty
35:57
Speaker 2: dollars was sometimes enough. But now it's you know, you
36:01
Speaker 2: only got one shirt and go home. So yeah, I would,
36:06
Speaker 2: you know, be super restrictive. I think for me is
36:08
Speaker 2: the word when it comes to my budgeting, like because
36:11
Speaker 2: my partner and I like to go out, you know,
36:12
Speaker 2: to eat at different restaurants or like just just eat
36:16
Speaker 2: really and then I'd give myself sixty dollars to eat,
36:18
Speaker 2: but really would end up spending like one hundred dollars.
36:21
Speaker 4: I mean, brunch these days is a minimum of seventy dollars.
36:24
Speaker 4: In my head, like it's become insane, like, yeah, something's
36:27
Speaker 4: got to give. I just I cannot conceptualize how this happens,
36:31
Speaker 4: like and if you've got sixty bucks for dinner, Like,
36:34
Speaker 4: let's break this down. Most main courses nowadays. And this
36:37
Speaker 4: is probably very entitled from my perspective and a reflection
36:41
Speaker 4: of the places that I go. So it doesn't mean
36:43
Speaker 4: it's true to everybody. It's just my experience, right, but
36:46
Speaker 4: main's are like thirty dollars. Like you walk in and
36:50
Speaker 4: that's a main meal each that's no drinks, that's no entree.
36:53
Speaker 4: And like my husband and I I would say we're
36:55
Speaker 4: pretty good at eating out. I don't know about you
36:57
Speaker 4: and your partner but like if we want to eat out,
37:00
Speaker 4: we like to make the most of the time. So
37:02
Speaker 4: often we'll share an entree, have a maine each, and
37:06
Speaker 4: then share a dessert. So then it was kind of
37:08
Speaker 4: like two courses. We didn't have three courses each, which
37:11
Speaker 4: to be honest, I usually can't get through. But then
37:14
Speaker 4: we also want to have a wine, and maybe that's
37:16
Speaker 4: like two wines because I don't want to you know,
37:19
Speaker 4: just go out for dinner, have a drink, and then
37:20
Speaker 4: like go straight home. Like this, Now that I'm a
37:23
Speaker 4: mum as well, I'm like make the most of his time.
37:26
Speaker 4: It's maybe like two drinks each. That's easy one hundred
37:29
Speaker 4: dollars plus. Like it's wild, isn't it.
37:31
Speaker 2: Yeah? Yeah, absolutely, even like the drinks alone, like cocktails,
37:36
Speaker 2: they would cost like twenty four dollars, twenty dollars and
37:39
Speaker 2: that insane. Yeah, it's insane. And because I'm a cocktail girlie,
37:45
Speaker 2: I would have you know, peanut Colada with my dinner,
37:48
Speaker 2: and so that already is over sixty dollars for myself alone, exactly.
37:54
Speaker 2: So it's yeah, I still have trouble budgeting, especially with
37:59
Speaker 2: you know, with shopping and dinner, dining out and all
38:03
Speaker 2: that stuff, all.
38:04
Speaker 4: Right, I can fix that for you in literally ten minutes.
38:07
Speaker 4: I mean it'll take you more than ten minutes. But
38:09
Speaker 4: I'm going to gift you our money Masterclass because that's
38:12
Speaker 4: going to like nail all of that. Like I'm listening
38:15
Speaker 4: to like your issue, and obviously I could be like, hey,
38:18
Speaker 4: I can gift you it for the budget, but we
38:19
Speaker 4: have a video series inside of that that'll help you
38:23
Speaker 4: reflect on what you're spending and how to actually budget
38:26
Speaker 4: because it's so different for everybody. Like you and your
38:29
Speaker 4: partner might like a specific restaurant so you're able to
38:32
Speaker 4: really go, well, actually, I like this restaurant. We want
38:36
Speaker 4: to go every single month, and we know it costs
38:39
Speaker 4: this because we're creatures of habit and I'm never not
38:41
Speaker 4: going to order a peanut colada and the palma, like
38:43
Speaker 4: it's just going to happen every time. I know exactly
38:45
Speaker 4: what this means. And it can also help you be
38:48
Speaker 4: a bit flexible while still looking at the bigger picture,
38:51
Speaker 4: because like every year you on your Corolla are going
38:53
Speaker 4: to pay regio, you're gonna have to pay insurance, Like
38:56
Speaker 4: we need to zoom out and capture those costs. In addition,
39:00
Speaker 4: because I feel like, I don't know about you, but
39:02
Speaker 4: even though I've budgeted for it, my red jot and
39:06
Speaker 4: insurance still surprises me, Like it pops up and I'm like,
39:09
Speaker 4: oh what, Like why is that here? Again? Like I
39:11
Speaker 4: feel like it happens every month, even though I pay
39:14
Speaker 4: on an annual basis, it just rolls around like time flies.
39:17
Speaker 4: So I feel like we need to budget for those
39:19
Speaker 4: things so that the cash is sitting there. Even though
39:22
Speaker 4: I've got the cash right now, it still surprises me.
39:25
Speaker 4: But also we want to make sure that we've got
39:27
Speaker 4: the right amounts in our fun buckets and the right
39:29
Speaker 4: amounts in our I call it in the course of Food,
39:32
Speaker 4: Fuel and Fun account because that's the account that I like,
39:36
Speaker 4: have a debit card, and I tap my debit card
39:39
Speaker 4: for things, and every single week I know what my food,
39:42
Speaker 4: fuel and fun is going to cost me. And if
39:44
Speaker 4: I run out of that money, that's it. We're not
39:46
Speaker 4: going out for dinner. But the reason that works for
39:49
Speaker 4: me is that those bigger goals aren't compromised. So like
39:52
Speaker 4: your travel and your emergency fund and those things aren't
39:56
Speaker 4: going to be compromised. If you go out for dinner
39:58
Speaker 4: with your partner and then go it blew over like
40:01
Speaker 4: we've made a buffer for that. And I think that
40:04
Speaker 4: that works really well, especially from my position as someone
40:08
Speaker 4: who has been in debt and is a little bit
40:11
Speaker 4: of an instant gratification Galie, even though I shouldn't be.
40:14
Speaker 4: So I'm going to gift you that. We'll work that
40:16
Speaker 4: out after.
40:17
Speaker 2: Oh, thank you. I really appreciate it.
40:19
Speaker 4: Oh of course. But for those of you following along,
40:21
Speaker 4: I'm going to put a little cheeky discount code in
40:23
Speaker 4: the show notes because it would be rude to just
40:25
Speaker 4: gift it to one person. So we will do a
40:28
Speaker 4: little discount. But I feel like that's going to really
40:32
Speaker 4: work for you and put you back on track, like
40:34
Speaker 4: you're already killing it. But I think that'll turbocharge it.
40:36
Speaker 4: And so I'm excited.
40:38
Speaker 2: Thank you same same. I'm really excited. I'm going to
40:40
Speaker 2: work on that tonight as soon as I get it.
40:43
Speaker 4: I love that. I'm really excited. You have to tell
40:45
Speaker 4: me how you go. We're running out of time very quickly.
40:48
Speaker 4: Money Diarist, at the start of this episode, you said,
40:51
Speaker 4: v I reckon, I'm a CS and I said, okay,
40:54
Speaker 4: that makes sense. Let's learn a little bit more about you.
40:57
Speaker 4: But you've changed your whole money story. You've just gone
41:00
Speaker 4: down to tell me how good you are at money,
41:02
Speaker 4: and like you have some of the clearest goals they've heard.
41:05
Speaker 4: Like when I said, oh, what are your goals, you
41:07
Speaker 4: off the bat were like, okay, cool. So I want
41:09
Speaker 4: a fully funded emergency fund. I want to pay off
41:11
Speaker 4: my car loan. My partner and I we're prioritizing travel,
41:14
Speaker 4: so I want to find time to you know, bump
41:18
Speaker 4: that a little bit up. We talked about investing and
41:21
Speaker 4: you said, oh, look the unfortunately I had to get
41:24
Speaker 4: rid of my investments. But then when we reframed it,
41:26
Speaker 4: it was because you were getting yourself out of debt
41:28
Speaker 4: and you'd made money that could go towards paying off
41:31
Speaker 4: your debts, and like, is that not the coolest thing ever?
41:35
Speaker 4: Like is that not really epic and putting you in
41:38
Speaker 4: the best possible position. So you're saying that investing got
41:41
Speaker 4: you out of debt in a way, like Sleigh love
41:44
Speaker 4: that for you. You talked about how accidentally I mean, I'm
41:48
Speaker 4: going to give you credit for this, but Lack it
41:50
Speaker 4: was an accident. How you have a really great interest
41:53
Speaker 4: rate on your car loan? Like two one percent in
41:56
Speaker 4: this economy. That is definitely worth riding home about. But
41:59
Speaker 4: you're also have reframed what is reasonable for you. We
42:03
Speaker 4: talked about range Rovers and how ridiculous they are as
42:06
Speaker 4: a car. They always break. We don't want a range
42:09
Speaker 4: Rover with a red interior. But you picked something that
42:12
Speaker 4: you know, still aligned to your style, still gave you
42:15
Speaker 4: the vibes you were after, but was actually within your budget.
42:19
Speaker 4: I love that your best money habit is still something
42:22
Speaker 4: that I can't master. You are good at delayed gratification.
42:26
Speaker 4: So we need to talk more because I'm still a
42:29
Speaker 4: little bit spendy, a little bit of a short term
42:32
Speaker 4: kind of girl. So I'm looking at you going Holy Moley,
42:35
Speaker 4: like this girl, she's got a great job, she's killing it.
42:39
Speaker 4: Are we really a C minus?
42:41
Speaker 2: I thought about that last night when I was writing
42:44
Speaker 2: down my money story, and I would still say strictly
42:49
Speaker 2: I'm a C minus because I have quite a few
42:53
Speaker 2: goals I need to achieve to justify your promotion. But
42:57
Speaker 2: I would say that I'm definitely, I guess going towards
43:01
Speaker 2: the bee the b.
43:03
Speaker 4: Are you're working towards it. You're like, no, no, no,
43:06
Speaker 4: I think I've been reasonable with myself. We've still got
43:09
Speaker 4: space to grow.
43:09
Speaker 2: I love that absolutely.
43:10
Speaker 4: I love that. I'm not going to argue with you,
43:12
Speaker 4: Money direst It has been a pleasure getting to know you,
43:15
Speaker 4: getting to share your story and learning literally so much
43:19
Speaker 4: so I really appreciate it and know that the community
43:22
Speaker 4: will so thank you for that. It's been amazing.
43:24
Speaker 2: Thanks Victoria, it's been lovely. Thank you so much.
43:33
Speaker 4: The advice shared on She's on the Money is general
43:36
Speaker 4: in nature and does not consider your individual circumstances. She's
43:40
Speaker 4: on the Money exists purely for educational purposes and should
43:43
Speaker 4: not be relied upon to make an investment or financial decision.
43:47
Speaker 4: If you do choose to buy a financial product, read
43:50
Speaker 4: the PDS TMD and obtain appropriate financial advice tailored towards
43:54
Speaker 4: your needs. Victoria, Divine and She's on the Money are
43:57
Speaker 4: authorized representatives of Money SHOWPA, P E T Y L
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