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MONEY DIARIES: Life Beyond Spending Guilt · She's On The Money

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  Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
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  Speaker 1: the Order Kerney Whoalbury and a waddery woman. And before
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  Speaker 1: we get started on She's on the Money podcast, I
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  Speaker 1: would like to acknowledge the traditional custodians of the land
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  Speaker 1: of which this podcast is recorded on a wondery country,
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  Speaker 1: acknowledging the elders, the ancestors and the next generation coming
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  Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
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  Speaker 1: and the storytelling of you to make a difference for
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  Speaker 1: today and lasting impact for tomorrow.
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  Speaker 2: Let's get into it.
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  Speaker 3: She's on the Money, She's on the Money.
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  Speaker 2: Hello, and welcome to She's on the Money the podcast
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  Speaker 2: and millennials who want financial freedom. Welcome back to my
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  Speaker 2: favorite episode of the week, money Diaries, where I get
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  Speaker 2: the opportunity to talk to one of our incredible She's
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  Speaker 2: on the Money community members all about their money story.
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  Speaker 2: So let's jump straight into it, because this week I
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  Speaker 2: got a message and it went like this. Hi Victoria,
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  Speaker 2: I'm a first time mum with an eight month old
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  Speaker 2: that works full time in the events industry. I've overcome
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  Speaker 2: huge spending guilt inherited from my parents' complex relationship with money.
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  Speaker 2: Mum was super savings conscious due to some trauma around
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  Speaker 2: undisclosed debt of my dad's when they got married, But
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  Speaker 2: my husband and I are super open and on the
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  Speaker 2: same page when it comes to money. I've just started
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  Speaker 2: my wedding celebrant business, and I know how much you
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  Speaker 2: love a good wedding chat too, Money Diarist, welcome to
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  Speaker 2: the show. You are not wrong. I would love to
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  Speaker 2: talk more about weddings and money stories, two of my
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  Speaker 2: favorite topics of this year.
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  Speaker 4: Yay, hello, Thank you so much for having me.
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  Speaker 2: Oh my gosh, I'm so excited. You are not wrong.
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  Speaker 2: I feel like anyone who's recently been married or is
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  Speaker 2: soon to be married, like I just can't get enough
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  Speaker 2: of this wedding conversation. Like it's literally my favorite. If
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  Speaker 2: I was allowed and could financially afford to have another wedding,
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  Speaker 2: I think I would like best day in the entire world.
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  Speaker 5: Absolutely, I would probably agree. There's lots of things I'd
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  Speaker 5: change and do differently. And yeah, working in the space
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  Speaker 5: now it just makes me want to do it again.
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  Speaker 4: A love.
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  Speaker 2: All right, Well, let's talk about money, because I'm so
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  Speaker 2: excited and I'm sure that a lot of wedding conversation
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  Speaker 2: will come up before we jump into the big conversation,
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  Speaker 2: I want to know what grade would you give your
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  Speaker 2: money habits on a scale from A through to F.
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  Speaker 4: I would probably say be minus.
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  Speaker 2: All right, I'm not going to ask too much about that.
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  Speaker 2: Let's get into the questions and we'll see where this goes.
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  Speaker 2: My favorite question, though, is up first, I want to know,
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  Speaker 2: can you tell us a little bit more about your
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  Speaker 2: money story?
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  Speaker 5: Absolutely so, It's yeah, great to hear it back. It's
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  Speaker 5: like listening to somebody else's story, not my own.
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  Speaker 2: It's a bit weird, isn't it. Everyone says that I said,
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  Speaker 2: Oh my gosh, my story sounds so good when you
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  Speaker 2: read it back.
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  Speaker 4: Yeah, Like that's me. So yeah. Definitely have always been a.
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  Speaker 5: Big saver, which I was always praised for as a child,
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  Speaker 5: which is great, but I think it almost made me
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  Speaker 5: feel like I could never spend money, Like I took
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  Speaker 5: that to the extreme, almost took that on as my identity,
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  Speaker 5: and if I sort of spent money or wanted to
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  Speaker 5: buy something, I always had guilt around that. So I
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  Speaker 5: remember vividly receiving money for birthday gifts when I was
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  Speaker 5: about eight years old and not wanting to spend a
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  Speaker 5: single cent of it. My mindset was very much like
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  Speaker 5: I need to save everything and spending is bad, So
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  Speaker 5: it's very black and white. Yeah, I didn't learn much
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  Speaker 5: about it's okay to like spend x amount of what
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  Speaker 5: I received specifically for a birthday present. When it's you know,
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  Speaker 5: you're eight years old.
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  Speaker 4: I feel like you shouldn't really be thinking like that necessarily.
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  Speaker 5: But yeah, I definitely took it on as my identity
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  Speaker 5: and was praised for it, so I thought, well, this
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  Speaker 5: is the thing to do to save every cent.
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  Speaker 2: It can't be that bad. And I mean it's funny
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  Speaker 2: because it goes both ways, right, Like if you're praised
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  Speaker 2: for something, you're just going to do more of it
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  Speaker 2: because you're like, oh, this is what validates me, I'm
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  Speaker 2: going to go down this route. And absolutely it makes
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  Speaker 2: a lot of sense. How did that manifest as you
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  Speaker 2: got older? Like, and now you've obviously got a partner
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  Speaker 2: and like you're managing joint finances, Like was that something
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  Speaker 2: that caused a lot of friction in your relationship initially?
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  Speaker 4: Yes? It did.
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  Speaker 5: So my husband is much more of a spender than
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  Speaker 5: I am and it did kind of freak me out.
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  Speaker 4: Initially, I was like, oh my gosh, like you spend
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  Speaker 4: so much money.
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  Speaker 5: For example, I have the same car from when I
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  Speaker 5: was seventeen. I've had the same car forever, my little
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  Speaker 5: twirty yars two thousand and eight.
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  Speaker 2: If it ain't broke, does exactly, it's my car's from
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  Speaker 2: two thousand and six. I stand this exactly. Good luck
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  Speaker 2: crying that out of my cold.
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  Speaker 4: Hands, like I don't need it.
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  Speaker 5: You know, it works, It gets me from A to
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  Speaker 5: B and it's an amazing little thing. But yeah, my
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  Speaker 5: husband has had about twelve cars in his lifetime. He's
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  Speaker 5: only four years older than me. So yes, that that
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  Speaker 5: went away went out the window when we were together.
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  Speaker 5: But I feel like we've kind of balanced each other
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  Speaker 5: out in a really funny way. So our communication is
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  Speaker 5: really strong in terms of you know, before we decided
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  Speaker 5: to get serious, we had those conversations, and I know
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  Speaker 5: that's really important before getting into a relationship.
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  Speaker 4: And I think, because I was so.
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  Speaker 5: Money focused to the extreme, having those conversations with a
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  Speaker 5: potential future partner is really important to me. And I think, yeah,
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  Speaker 5: as time has gone on, we've been able to sort
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  Speaker 5: of balance each other out really well, where I've been
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  Speaker 5: able to know that spending is not as you know,
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  Speaker 5: you have money and it's a good thing. Like you,
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  Speaker 5: it's there to be spent on the things that you
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  Speaker 5: need and it's okay to spend money, Whereas he's learned
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  Speaker 5: to budget better and you know, only you know, be
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  Speaker 5: able to save for things rather than.
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  Speaker 4: Like a paycheck comes in and then spend immediately.
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  Speaker 5: So I think we've really balanced each other out in
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  Speaker 5: that way, which is a good thing, and it's something
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  Speaker 5: that we continue to work on every day.
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  Speaker 4: But I think we've got to a good point with that.
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  Speaker 2: You were right that you were like, we balance each
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  Speaker 2: other out like that makes sense now, yes, absolutely makes
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  Speaker 2: so much sense. I love it all right. I want
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  Speaker 2: to know the pervy stuff. Now tell me what do
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  Speaker 2: you do for it? How much money do you earn?
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  Speaker 5: So I work in the events industry for a government
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  Speaker 5: organization full time. I earn at K before tax At
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  Speaker 5: the moment, I'm working part time though, about.
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  Speaker 4: Twenty two hours a week.
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  Speaker 2: Just pro rada yes, correct, yeah, pro rada yeah, col
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  Speaker 2: rata how good? And do you have you mentioned before?
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  Speaker 2: You've just started your wedding celebrant business. Tell me about that.
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  Speaker 2: Is that an earner yet or is that just a startup?
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  Speaker 2: I want to know more.
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  Speaker 5: Yes, so it is an earner. I'm actually really surprised
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  Speaker 5: at how well it's been doing. So I've been making
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  Speaker 5: bookings for six months and I've just done my tenth
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  Speaker 5: wedding on the weekend.
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  Speaker 4: So it's oh my gosh, congrat thank you.
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  Speaker 2: You're in double digits now, I know.
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  Speaker 5: Very exciting and yeah, starting to get more comfortable with
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  Speaker 5: the process.
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  Speaker 4: Every wedding's different.
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  Speaker 5: It's a lot of fun and as of Yeah, once
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  Speaker 5: the end of financial year hits.
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  Speaker 4: I will have received you've thirty thousand in that business.
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  Speaker 2: So yeah, for how good? And you nearly almost didn't
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  Speaker 2: tell me that. Yes, what are you doing? Yes, I'm obsessed?
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  Speaker 2: How good? And is that something you mentioned before obviously
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  Speaker 2: in your letter in you said I'm a first time
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  Speaker 2: mum with an eight month old and you've got like
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  Speaker 2: a husband. Is that something that you want to take
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  Speaker 2: full time? Is this, you know, just to bring in
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  Speaker 2: some more cash or like what prompted you to get
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  Speaker 2: into a side hustle like this?
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  Speaker 5: Yes, I decided to do everything all at once, have
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  Speaker 5: a baby, work and start a business.
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  Speaker 2: How to go home baby.
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  Speaker 4: Yep.
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  Speaker 5: So that's been I've actually been really enjoying it. It's just
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  Speaker 5: juggling all the things. So when I was planning my
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  Speaker 5: own wedding two years ago, I didn't know that a
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  Speaker 5: celebrant was a thing. I'd only ever been to like
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  Speaker 5: church weddings and things, and I really wanted it to
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  Speaker 5: be like like a fun like party, kind of setting
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  Speaker 5: the tone for the reception. I didn't even know if
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  Speaker 5: that existed, and so when I was looking for young
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  Speaker 5: females that are celebrants, I was shocked to discover that
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  Speaker 5: they do exist. And Yeah, I just had such a
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  Speaker 5: great relationship with my own celebrant, and.
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  Speaker 4: I kind of dawned on me.
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  Speaker 5: I'd always wanted to start a business, but I didn't
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  Speaker 5: know what I wanted to do, which always kind of
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  Speaker 5: was the stop sign for me. I was like, I
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  Speaker 5: don't know what I want to do. I know I
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  Speaker 5: want to do something, but I have no idea what
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  Speaker 5: that is. So when I had such a great relationship
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  Speaker 5: with my celebrant and sort of went through the process
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  Speaker 5: with her, I was like, Oh, I wonder if I
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  Speaker 5: could do this. This is pretty cool. Like even though
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  Speaker 5: I was pretty nervous for this, today I am comfortable speaking.
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  Speaker 4: In public and I love to know, you know, the
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  Speaker 4: pervy things of like how people met and all of
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  Speaker 4: those things.
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  Speaker 5: So yeah, I just sort of decided to go ahead
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  Speaker 5: and jump right into it, say.
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  Speaker 2: Yeah, I would love that job. Literally, I feel like
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  Speaker 2: that would be so fun. Like you, I'm relatively comfortable
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  Speaker 2: public speaking, but I also I just love love, like
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  Speaker 2: I love seeing other people in love. I love talking
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  Speaker 2: about it. I want to know how you met. I
• 8:53
  Speaker 2: want to know like your favorite things about your partner.
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  Speaker 2: I want to know all of those pervy things. So
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  Speaker 2: I think that that is right up my alley. And
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  Speaker 2: you're right celebrant honestly not to be too dramatic and
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  Speaker 2: makes or breaks the ceremony. And like we were so particular.
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  Speaker 2: We got married in November last year, and I was
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  Speaker 2: so particular about picking somebody that worked really well, and
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  Speaker 2: my husband was exactly the same, and we landed on Megan,
• 9:16
  Speaker 2: who I'm still obsessed with, Like I still follow her content,
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  Speaker 2: I still interact with her. I love her like she
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  Speaker 2: just became such a good you know, part of the
• 9:25
  Speaker 2: wedding and we actually invited her to m see the
• 9:27
  Speaker 2: rest of the wedding because I was like, I don't
• 9:29
  Speaker 2: want that to fall on somebody else, and like, her
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  Speaker 2: vibe was just so good and I just knew she'd
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  Speaker 2: kill it that. I was like, I know you probably
• 9:35
  Speaker 2: don't usually do this, but would you do this? And
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  Speaker 2: she's like, yeah, you're right, I don't, but let's do it.
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  Speaker 2: And so she did, and it was like the best
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  Speaker 2: thing ever. I could not recommend her, you know, more highly,
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  Speaker 2: because she just made me calm, made my husband calm
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  Speaker 2: and like and just did it in a way that
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  Speaker 2: was so us because we're not traditional and we're not
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  Speaker 2: that type of you know couple that wanted a church wedding,
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  Speaker 2: and I mean there were things that I wanted in
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  Speaker 2: the ceremony that made sense to me, Like I was like, okay,
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  Speaker 2: we need an acknowledgment of country, Like that just makes sense.
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  Speaker 2: We're getting married, he we're having an event. And she
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  Speaker 2: was just all over it and made it so easy
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  Speaker 2: and just it was so beautiful. So I was obsessed anyway.
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  Speaker 2: I could talk about weddings all day, but that is
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  Speaker 2: not why we are here. I want to know what
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  Speaker 2: are you working towards. Obviously, you're killing it as a
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  Speaker 2: mum of an eight month old, side hustle bringing in
• 10:22
  Speaker 2: thirty grand. You're on fifty in your quote full time job.
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  Speaker 2: What's your big money goal? What are we working towards together?
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  Speaker 5: So we have a mortgage at the moment, so I
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  Speaker 5: think that's the main money goal, or that was the
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  Speaker 5: really main money goal for a really long time, was
• 10:37
  Speaker 5: to buy a house, which we've done. Don't recommend moving
• 10:40
  Speaker 5: house when you're eight months pregnant, but that's.
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  Speaker 4: What we decided to do.
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  Speaker 2: Sounds terrible, Yeah, don't do it.
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  Speaker 5: But big money goal would be probably to pay off
• 10:49
  Speaker 5: the mortgage. And as I was thinking about this question
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  Speaker 5: a little bit more, I feel like that's a very big,
• 10:55
  Speaker 5: long term goal and I should probably think.
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  Speaker 4: More about a big goal. But that's not that big.
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  Speaker 5: Just to kind of tourne it down a little bit,
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  Speaker 5: something that I do want to do is invest a
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  Speaker 5: little bit more. That's something that now that we do
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  Speaker 5: have the mortgage and we paid for the deposit, I'm
• 11:09
  Speaker 5: keen to get my teeth stuck into a bit more investing.
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  Speaker 2: So yes, I love that. I want to know more
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  Speaker 2: about it, though, what would it mean to pay off
• 11:18
  Speaker 2: your mortgage. So what does that currently look like? And
• 11:22
  Speaker 2: like what would paying off your mortgage get you apart
• 11:25
  Speaker 2: from owning a house outright.
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  Speaker 5: I think the financial pressure probably of like you know,
• 11:32
  Speaker 5: currently everyone's talking about the interest rates and all of
• 11:34
  Speaker 5: those things, just the pressure around that. I'd love to
• 11:37
  Speaker 5: be in a position potentially with my business or you
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  Speaker 5: know what. I'm sort of building up towards to be
• 11:43
  Speaker 5: in a position where, yeah, the mortgage wasn't such a big.
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  Speaker 4: Thing or like a stressful thing. I like that.
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  Speaker 2: I feel like so many times I talk to people
• 11:52
  Speaker 2: and they say, we just want to pay off the mortgage.
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  Speaker 2: I didn't go yeah, why, They're like, oh, so we
• 11:56
  Speaker 2: can own a house outright, And I'm like, yes, but
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  Speaker 2: like let's think about why we might want that and
• 12:02
  Speaker 2: what that means. And I feel like diving a little
• 12:04
  Speaker 2: bit deeper into what you said before you were like
• 12:07
  Speaker 2: taking off the pressure and you know, maybe investing. I
• 12:10
  Speaker 2: think that right now is probably a very big season
• 12:13
  Speaker 2: in your life. You've had a baby, you've probably taken
• 12:16
  Speaker 2: some significant time off, There's a lot going on where
• 12:19
  Speaker 2: financial pressure would probably be really loud in your life.
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  Speaker 2: So I feel like it's a good goal. I really
• 12:26
  Speaker 2: like it. But you're right. I think having smaller goals
• 12:28
  Speaker 2: along the way so that we're enjoying the journey is
• 12:30
  Speaker 2: also very recommended. Before we continue our chat, though, let's
• 12:35
  Speaker 2: go to a really quick break because on the flip side,
• 12:37
  Speaker 2: I want to talk about investments and debt, how much
• 12:39
  Speaker 2: that mortgage actually is, and your best and your worst
• 12:41
  Speaker 2: money habits, So guys, do not go anywhere. All right,
• 12:48
  Speaker 2: money Diaris, We are back, and I want to know
• 12:51
  Speaker 2: you mentioned before you have a mortgage, which can be
• 12:53
  Speaker 2: an investment, but do you currently have any investments? If so,
• 12:56
  Speaker 2: what are they?
• 12:57
  Speaker 5: Yes, so I have amount five thousand in ETFs.
• 13:02
  Speaker 2: Current That's a big amount. What are you talking about?
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  Speaker 4: Yeah, I suppose it is. It is. It's a big amount.
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  Speaker 2: She's chunky like that's good.
• 13:11
  Speaker 4: Yeah, yeah, I think it's. Yeah, it's that mindset thing.
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  Speaker 5: Definitely. You'll probably see the theme of that mindset of
• 13:16
  Speaker 5: that money guilt. It definitely still yeah pops its head
• 13:20
  Speaker 5: up every now and then.
• 13:21
  Speaker 2: So how did you decide that that was the right
• 13:23
  Speaker 2: I guess asset class for you and get started on
• 13:27
  Speaker 2: your journey? Like what did that mean? And how did it.
• 13:29
  Speaker 5: Work absolutely, So I started using spaceship first. I was
• 13:33
  Speaker 5: on there for a little bit, which I think helped
• 13:35
  Speaker 5: my confidence with investing. I was really hesitant initially because
• 13:40
  Speaker 5: I didn't know very much about it.
• 13:41
  Speaker 4: I didn't grow up learning about it.
• 13:43
  Speaker 5: But after listening to Shoes on the Money, I started
• 13:45
  Speaker 5: to get a little bit more confident about, Oh, like.
• 13:48
  Speaker 4: Investing can be really cool.
• 13:49
  Speaker 5: Yeah, opportunity to have my money work for me rather
• 13:53
  Speaker 5: than just sitting in my savings camp. So yeah, I
• 13:55
  Speaker 5: started playing on there initially and then got my confidence up.
• 13:59
  Speaker 5: I'm quite risk, so I thought an ETF instead of
• 14:02
  Speaker 5: doing into like one specific company for example, would be
• 14:06
  Speaker 5: the next logical step for me personally. So yeah, I
• 14:09
  Speaker 5: had to look into some ETFs and chat with my
• 14:11
  Speaker 5: husband as well about you know, what he wanted to
• 14:14
  Speaker 5: do and all of that. So this is sort of
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  Speaker 5: a joint thing that we're doing together at the moment.
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  Speaker 5: So yeah, five thousand felt safe for me to start with.
• 14:22
  Speaker 4: And yeah good. Yeah, So it's been good.
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  Speaker 5: I've I've had a really positive experience with it and
• 14:26
  Speaker 5: looking forward to doing more of it now that we've
• 14:28
  Speaker 5: bought our first house.
• 14:29
  Speaker 2: So love, I want to know more about that though
• 14:32
  Speaker 2: you said you picked an ETF. In our community, there
• 14:34
  Speaker 2: are always lots of questions about how do I pick
• 14:37
  Speaker 2: the right ETF for me? What process did you follow? Like,
• 14:40
  Speaker 2: how did you want? You obviously decided and ETF makes sense? Great?
• 14:44
  Speaker 2: How did you pick which one made sense for you?
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  Speaker 4: Yes? Great question.
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  Speaker 5: So I tracked how an ETF had been doing for
• 14:51
  Speaker 5: like the course of its life, I suppose, so for
• 14:53
  Speaker 5: five years. I sort of had a look how it
• 14:54
  Speaker 5: was going, which really comforted me to know, these things
• 14:58
  Speaker 5: go up and down and it's okay. That's the way
• 15:00
  Speaker 5: that things happen. It's going to be that way and
• 15:03
  Speaker 5: it's fine. And something that you've said that really helps
• 15:06
  Speaker 5: me is not to look at it every day, for example,
• 15:08
  Speaker 5: and be like.
• 15:09
  Speaker 4: Oh my gosh, like it's lower, I've lost.
• 15:11
  Speaker 5: X amount of money, but to know, okay, I've popped
• 15:13
  Speaker 5: five thousand in there and that's what it is.
• 15:15
  Speaker 4: But you know it's going to fluctuate and that's okay.
• 15:18
  Speaker 5: But in picking the one that I did, I did
• 15:19
  Speaker 5: a lot of research about to be completely transparent, I
• 15:22
  Speaker 5: feel like I still have so much to learn.
• 15:24
  Speaker 2: No, we're not expecting that at all. I just want
• 15:26
  Speaker 2: to know one of our community members journeys because it
• 15:29
  Speaker 2: is so challenging to pick and I feel like we
• 15:32
  Speaker 2: all get analysis paralysis. And the more I can hear
• 15:35
  Speaker 2: how you picked it as somebody in our community that's
• 15:38
  Speaker 2: not a financial advisor, how did you do that? Because
• 15:41
  Speaker 2: lots of people are going to listen to this and
• 15:43
  Speaker 2: be like, yeah, I felt this too, or yeah, I'm overwhelmed.
• 15:46
  Speaker 2: Oor oh my gosh, I've been looking at that one.
• 15:47
  Speaker 2: Maybe I'll have another look at it. So I think
• 15:49
  Speaker 2: it's it's important.
• 15:50
  Speaker 4: Absolutely, yes.
• 15:51
  Speaker 5: So I was looking at a few different ETFs on
• 15:53
  Speaker 5: self wealth so that you can see like the graph
• 15:56
  Speaker 5: of everything, and this one felt like the safest option.
• 15:59
  Speaker 5: So don't very much about it, but it felt like
• 16:01
  Speaker 5: a safe option and I've been happy with it so far.
• 16:03
  Speaker 4: So yeah, that's how I picked.
• 16:05
  Speaker 2: How good? No, I love hearing more about that. It's
• 16:08
  Speaker 2: literally my favorite to be super pervibi but how but
• 16:11
  Speaker 2: how where It's just I feel like we learn so
• 16:14
  Speaker 2: much as a community through shared experiences and it doesn't
• 16:17
  Speaker 2: matter how many podcasts I do on what an ETF
• 16:20
  Speaker 2: is and what might be the top performing ones and
• 16:22
  Speaker 2: why you'd pick one and what fees look like I
• 16:24
  Speaker 2: feel like so many times, the feedback we get from
• 16:27
  Speaker 2: our community is they learn the most from shared experiences,
• 16:30
  Speaker 2: which I totally understand. But that's why I'm always like, hey,
• 16:33
  Speaker 2: tell me, tell me. We need to know. I want
• 16:35
  Speaker 2: to know. Now though, you mentioned a mortgage, So the
• 16:38
  Speaker 2: answer is, yes, you do have debt. Yes, what are
• 16:41
  Speaker 2: your debt levels?
• 16:42
  Speaker 1: Like?
• 16:42
  Speaker 2: What do they look like?
• 16:43
  Speaker 4: Sure?
• 16:44
  Speaker 5: So the mortgage that we have at the moment I
• 16:46
  Speaker 5: checked is five hundred and eighty seven thousand, so quite
• 16:51
  Speaker 5: a big call.
• 16:52
  Speaker 2: What did you purchase your property for? We need to know.
• 16:54
  Speaker 5: Yes, we purchased the property for seven hundred and one
• 16:58
  Speaker 5: thousand dollars.
• 16:59
  Speaker 2: Oh go good. Why won seven hundred and one? Where
• 17:02
  Speaker 2: did that come from? Did you get in a bidding
• 17:04
  Speaker 2: war with someone in an opho?
• 17:06
  Speaker 4: It's actually a funny story.
• 17:07
  Speaker 5: So my husband the range was seven hundred to seven seventy.
• 17:12
  Speaker 5: My husband offered six eighty five. They said, no, they
• 17:17
  Speaker 5: have another offer. The highest offer that they had was
• 17:19
  Speaker 5: six nine nine, seven fifty. So he said seven hundred
• 17:23
  Speaker 5: and then they said no, it needs to be higher,
• 17:25
  Speaker 5: and he said seven hundred.
• 17:26
  Speaker 4: And one, and they accepted it. They did, they did,
• 17:29
  Speaker 4: They did how good is that.
• 17:31
  Speaker 2: I love the audacity on him, being like, all right,
• 17:33
  Speaker 2: you can have another thousand. You get what you get.
• 17:37
  Speaker 4: M He was very proud of himself.
• 17:39
  Speaker 2: No, I love that. I'm proud of him too. I'm obsessed.
• 17:42
  Speaker 2: I think that's so fun. I want to know, though,
• 17:45
  Speaker 2: how much deposit did you have and how long did
• 17:47
  Speaker 2: it take you to save?
• 17:48
  Speaker 5: Yes, so this is our second house. So yeah, we
• 17:52
  Speaker 5: purchased a property.
• 17:53
  Speaker 2: Fancy pans.
• 17:54
  Speaker 5: So when I say second house, we don't. We sold
• 17:56
  Speaker 5: our first house and then we purchased this place.
• 17:58
  Speaker 2: So I still fancy she's had a property journey.
• 18:01
  Speaker 5: Yes, so we purchased our property, our first property in
• 18:06
  Speaker 5: twenty twenty when it was very, very low, and we decided,
• 18:09
  Speaker 5: let's buy a house, so we did, and then that's
• 18:12
  Speaker 5: when the interest rate was really low. At the house
• 18:14
  Speaker 5: that we purchased initially was I want to say, five
• 18:18
  Speaker 5: hundred and twenty thousand, and then we were able to
• 18:20
  Speaker 5: sell that and we made a profit of one hundred K.
• 18:23
  Speaker 5: So that then helped us with this God, yeah, which
• 18:26
  Speaker 5: is crazy.
• 18:26
  Speaker 2: How quickly did you so if you bought that in
• 18:28
  Speaker 2: twenty twenty, did you sell it when we sold.
• 18:31
  Speaker 4: It in twenty twenty two.
• 18:32
  Speaker 2: Oh my gosh, you made a hundred krazy prop what.
• 18:34
  Speaker 4: I know, I know crazy? So I should I put
• 18:37
  Speaker 4: that in my little intro.
• 18:38
  Speaker 2: That's interesting when I asked you the questions, I asked
• 18:40
  Speaker 2: my friend.
• 18:42
  Speaker 5: So, yeah, we were shocked that that was the case.
• 18:45
  Speaker 5: Money win, Yeah, money win for sure, and you held it.
• 18:47
  Speaker 2: For more than twelve months, which means you didn't lose
• 18:50
  Speaker 2: all of that on capital gains tax. She was six month.
• 18:52
  Speaker 4: Correct, correct.
• 18:53
  Speaker 5: And we actually ended up contacting our real estate agent
• 18:56
  Speaker 5: and being like, hey, the person that we purchased the
• 18:58
  Speaker 5: property from initially, and they said, oh, like, I actually
• 19:01
  Speaker 5: have somebody that is interested in buying it for the
• 19:04
  Speaker 5: price that we wanted.
• 19:04
  Speaker 4: So we didn't have to pay any fees, like in
• 19:07
  Speaker 4: terms of real estate fees and all of that advertising.
• 19:10
  Speaker 5: So it just worked out really, really well, which is
• 19:12
  Speaker 5: great because I was quite heavily pregnant at the time
• 19:14
  Speaker 5: and I was like, what are we.
• 19:15
  Speaker 4: Doing over and out.
• 19:17
  Speaker 5: Yes, yes, so now we've moved closer to family, which
• 19:20
  Speaker 5: is really lovely, and yeah.
• 19:22
  Speaker 4: That helped us with the deposit as well.
• 19:23
  Speaker 5: So in selling that property we were able to I
• 19:25
  Speaker 5: believe we did ten percent so yeah, seventy seventy seventy
• 19:30
  Speaker 5: k yeah, ten percent.
• 19:32
  Speaker 2: Yeah, like Y had ma that would make sense. And
• 19:34
  Speaker 2: did you have the help of a broker to do
• 19:36
  Speaker 2: that or did you dydy Yeah, very very cool. All right,
• 19:40
  Speaker 2: I have another question. I'm so obsessed with this. I
• 19:42
  Speaker 2: feel like you have so many good money habits, and like, honestly,
• 19:45
  Speaker 2: my friend, I'm already questioning why you gave yourself a
• 19:47
  Speaker 2: b MINX, but we will talk about that after these questions.
• 19:50
  Speaker 2: I want to know, as a savvy saver, what is
• 19:53
  Speaker 2: your best money habit.
• 19:55
  Speaker 5: I feel like I'm very good at putting aside. So
• 19:58
  Speaker 5: when a paycheck comes in, I divvy up my fund.
• 20:01
  Speaker 5: So I use up bank, which I just adore, and
• 20:04
  Speaker 5: I can split out. It's really fun to use. It's
• 20:06
  Speaker 5: really pretty, and I have different accounts.
• 20:09
  Speaker 2: We love an esthetic exactly.
• 20:11
  Speaker 4: It's so good.
• 20:12
  Speaker 5: So yeah, I've got my bills account, I've got my
• 20:14
  Speaker 5: savings account, I've got my what other accounts do I have,
• 20:18
  Speaker 5: like tax account, all of that. So I've got all
• 20:20
  Speaker 5: the things there and I just sort of, yeah, it's
• 20:22
  Speaker 5: really fun.
• 20:23
  Speaker 4: When I get my pay in, I just.
• 20:24
  Speaker 5: Feel like I have a good system of like this
• 20:27
  Speaker 5: is where things go. So I haven't automated it, but
• 20:29
  Speaker 5: I also feel like it's kind of my Maybe I'm weird,
• 20:32
  Speaker 5: but it's like my reward to like put things in
• 20:34
  Speaker 5: their places and have my little fun money account for
• 20:36
  Speaker 5: them that night.
• 20:37
  Speaker 1: That.
• 20:38
  Speaker 2: Yeah, so you see being able to do your budget
• 20:41
  Speaker 2: every month as a reward.
• 20:43
  Speaker 4: Yeah, is that weird?
• 20:44
  Speaker 2: Probably? No, No, it's not that weird. There's no such
• 20:47
  Speaker 2: thing as weird in money. I just happen to do
• 20:49
  Speaker 2: my budget and then give myself a reward for doing
• 20:52
  Speaker 2: the budget. So like, we are definitely different people, but
• 20:55
  Speaker 2: I really respect that, and I think that that is
• 20:57
  Speaker 2: how I should see it. And maybe, just maybe I
• 21:00
  Speaker 2: would have been able to buy a house sooner if
• 21:02
  Speaker 2: I had the same mindset as you.
• 21:05
  Speaker 4: I don't know.
• 21:05
  Speaker 5: Sometimes it does stress me out, but for the most part,
• 21:07
  Speaker 5: I'm like, yay.
• 21:08
  Speaker 4: I got paid, Like, let's start allocating.
• 21:11
  Speaker 3: I love no.
• 21:11
  Speaker 2: I want everybody in our community to be as passionate
• 21:14
  Speaker 2: about being able to do their budget as Yeah.
• 21:17
  Speaker 4: I love it.
• 21:18
  Speaker 2: I love it, love love love. Let's flip it, though,
• 21:20
  Speaker 2: Let's bring this conversation back down and humble you. What's
• 21:23
  Speaker 2: your worst money habit?
• 21:25
  Speaker 5: My worst money habit is that those restrictive habits still
• 21:30
  Speaker 5: linger sometimes, so in terms of doing that budget, I'll
• 21:33
  Speaker 5: be like, oh, yeah, like, I'll put one hundred dollars
• 21:36
  Speaker 5: in my fun money account for two weeks and i
• 21:39
  Speaker 5: put way more in my bill's account because I'm like,
• 21:41
  Speaker 5: I have to be careful, So I'm very like worst
• 21:43
  Speaker 5: case scenario, rather than like, oh, it's actually okay to
• 21:46
  Speaker 5: like put a little bit more into or I like
• 21:49
  Speaker 5: will save more than I need to, like, and then
• 21:52
  Speaker 5: I'll start dipping into things that I don't need to.
• 21:55
  Speaker 5: So I need to be more generous to myself. Maybe
• 21:58
  Speaker 5: that's the right word. I need to allow my like
• 22:00
  Speaker 5: it's okay to spend more and you've got enough in
• 22:04
  Speaker 5: your bills account at this amount, like you don't have
• 22:07
  Speaker 5: to overdo it.
• 22:08
  Speaker 2: Yeah, No, that makes a lot of sense. I feel
• 22:10
  Speaker 2: like I fully expected you to say that that was
• 22:13
  Speaker 2: your worst money habit, not because you'd identified it already,
• 22:16
  Speaker 2: but often when I have people in our community that
• 22:19
  Speaker 2: I get to talk to about their you know, money habits,
• 22:23
  Speaker 2: and they say, oh, I'm a really good saver and
• 22:25
  Speaker 2: I've always been a saver. And at the start of
• 22:27
  Speaker 2: this conversation, you said, Oh, like it kind of became
• 22:29
  Speaker 2: a personality trait, Like it became part of me, Like
• 22:31
  Speaker 2: I identified that way. Often people in those circumstances find
• 22:36
  Speaker 2: the restrictive habits are I guess number one for them,
• 22:40
  Speaker 2: because obviously that's what gets you to become a really
• 22:43
  Speaker 2: good saver, right restriction, But then on the flip side,
• 22:46
  Speaker 2: it can actually be a little bit negative. The next
• 22:50
  Speaker 2: question I've got, which is my favorite, lucky last question, is,
• 22:53
  Speaker 2: now that we've talked, what grade would you give your
• 22:56
  Speaker 2: money habits from an AA through to an F? You
• 22:59
  Speaker 2: gave yourself for B minus at the start. After talking,
• 23:03
  Speaker 2: after reflecting on all of this, how's that feel? How
• 23:06
  Speaker 2: does it fit?
• 23:07
  Speaker 4: Probably feels like I'm not being very generous to myself.
• 23:11
  Speaker 4: If we go back to that word.
• 23:12
  Speaker 2: I couldn't agree more. Why is that?
• 23:15
  Speaker 5: I think, considering my money habits are quite good. I'm
• 23:20
  Speaker 5: making my grade lower than what it probably should be
• 23:23
  Speaker 5: because I feel that I'm quite restrictive. But in terms
• 23:25
  Speaker 5: of the actual money habits itself, I do have great
• 23:28
  Speaker 5: systems in place and it's working really well for me.
• 23:31
  Speaker 5: And I'm looking back, I can see that I've achieved
• 23:34
  Speaker 5: the goals that I've set. So yeah, probably at least
• 23:38
  Speaker 5: an A minus.
• 23:39
  Speaker 4: Maybe.
• 23:41
  Speaker 2: I love this. I like the reflection. I like the
• 23:45
  Speaker 2: left room for improvement. I think it's just it's so interesting.
• 23:49
  Speaker 2: I guess setting a term of reference at the start
• 23:52
  Speaker 2: and then getting to revisit it at the end, because
• 23:55
  Speaker 2: I think it's a good I guess learner, because do
• 23:58
  Speaker 2: you know what I know. I know that they're going
• 23:59
  Speaker 2: to be people and hi friends. You're in the car
• 24:02
  Speaker 2: and you're listening to this Money Diary and you heard
• 24:04
  Speaker 2: b mins and you're like, yere okay, noorries and you
• 24:06
  Speaker 2: start listening and you're like, no, that's such a good
• 24:08
  Speaker 2: money habit. No, this is great, No, that is great.
• 24:10
  Speaker 2: Oh she's investing, she's got a house. She's sold a house.
• 24:12
  Speaker 4: You sold a house.
• 24:13
  Speaker 2: I'm got one hundred grand profit. My gosh. She's like
• 24:16
  Speaker 2: so confident. She started her own business. Like they're yelling
• 24:19
  Speaker 2: at the TV basically being like, excuse me, Money Diarist,
• 24:22
  Speaker 2: but you're absolutely killing it. But I think it's such
• 24:24
  Speaker 2: a good reflection point because we all have our own
• 24:28
  Speaker 2: journeys and they're not benchmarked against other people's journeys. They're
• 24:31
  Speaker 2: benchmarked against our own expectations and learning that you are
• 24:35
  Speaker 2: such a saver, it makes sense that you're like, oh,
• 24:38
  Speaker 2: my restrictive habits are this that the other, and I
• 24:40
  Speaker 2: don't think I'm doing as well as I could. It's
• 24:42
  Speaker 2: such a type let's call it type money saver trait
• 24:46
  Speaker 2: to go. It's not good enough, it's not good enough
• 24:48
  Speaker 2: when in reality you're actually killing it, and you need
• 24:51
  Speaker 2: to give yourself a little bit more credit or to
• 24:52
  Speaker 2: your language, a little bit more generosity, like you need
• 24:55
  Speaker 2: to be kinder to yourself, my friend, because you're absolutely
• 24:58
  Speaker 2: killing it and I love it. Would it take, though,
• 25:01
  Speaker 2: to get you to an A plus? What do you
• 25:03
  Speaker 2: think you could do in your own mind that would
• 25:05
  Speaker 2: mean that you, you know, confidently, would be like, yeah,
• 25:08
  Speaker 2: I'm actually an A plus at money.
• 25:10
  Speaker 4: I'd love to learn more about investments.
• 25:12
  Speaker 5: That's the next sort of thing that I'd love to
• 25:15
  Speaker 5: just feel a bit more confident with. You mentioned decision
• 25:18
  Speaker 5: paralysis or analysis paralysis earlier. I feel like I do
• 25:21
  Speaker 5: fall into that category and had to just sort of
• 25:24
  Speaker 5: dive right in to get that experience. So I'm yeah,
• 25:27
  Speaker 5: looking forward to going on that journey a little bit more.
• 25:30
  Speaker 5: And yeah, I think just the restrictive sort of mindset
• 25:33
  Speaker 5: stuff I would love to be able to shake.
• 25:36
  Speaker 4: A little bit more.
• 25:36
  Speaker 5: And I think now having a baby as well has
• 25:39
  Speaker 5: helped me realize, like, yeah, you've got to spend money
• 25:42
  Speaker 5: to like, you know, provide and all of that. And
• 25:45
  Speaker 5: like the money that I'm making is able to provide
• 25:47
  Speaker 5: for my family now, So I do see that my
• 25:50
  Speaker 5: mindset is shifting in that way as well.
• 25:52
  Speaker 2: Yeah, I love it, Oh my gosh. And do you
• 25:54
  Speaker 2: know what my favorite part about that? It's all so achievable,
• 25:58
  Speaker 2: Like none of that is beyond you know, what your
• 26:01
  Speaker 2: capability is or what you can achieve. All of that
• 26:03
  Speaker 2: is so capable and so like a che I love it.
• 26:06
  Speaker 2: I love it so much. Oh my gosh, money. I
• 26:09
  Speaker 2: wish we had all day to talk, but unfortunately that
• 26:12
  Speaker 2: is all we have time for today. So thank you
• 26:15
  Speaker 2: so much for joining us. I have absolutely loved this.
• 26:17
  Speaker 2: I wish that we could talk weddings all day though,
• 26:19
  Speaker 2: Like there should be more wedding chat in this So
• 26:21
  Speaker 2: thank you so so much for sharing your very gorgeous
• 26:23
  Speaker 2: story with our community. We love it.
• 26:25
  Speaker 4: Thank you so much for having.
• 26:26
  Speaker 3: Me the advice shared on She's on the Money is
• 26:35
  Speaker 3: general in nature and does not consider your individual circumstances.
• 26:39
  Speaker 3: She's on the Money exists purely.
• 26:41
  Speaker 2: For educational purposes and should not be relied upon to
• 26:44
  Speaker 2: make an investment or financial decision. If you do choose
• 26:47
  Speaker 2: to buy a financial product, read the PDS TMD and
• 26:51
  Speaker 2: obtain appropriate financial advice tailored towards your needs. Victoria Divine
• 26:55
  Speaker 2: and She's on the Money are authorized representatives of money.
• 26:59
  Speaker 2: SHEPA pty lt D. A b N three two one
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