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MONEY DIARIES: Staying Financially Afloat & Living On A Boat! · 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 Kerni 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 4: Hello, and welcome to She's on the podcast Millennials who
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Speaker 4: want financial Freedom. Welcome back to another Shop Back Money
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Speaker 4: Diary Monday, where we chat to a community member about them,
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Speaker 4: their story, their finance, their finances, their finances and all
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Speaker 4: of the fun things in between. So today I have
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Speaker 4: an excellent one for you.
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Speaker 2: Oh you don't have a good one. You have an
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Speaker 2: excellent one. Brand new adjective, would you ask you? Yes?
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Speaker 2: I actually want to get a list of adjectives. I
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Speaker 2: should to just like filter through all of them, because
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Speaker 2: that's all we've got. That's the extent of my copywriting skills.
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Speaker 2: It's right click the soaurus genius. Thank Chadie. Well, here
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Speaker 2: we go.
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Speaker 4: Listen to this. Our diroist says, both my parents retired
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Speaker 4: when I was fourteen to fifteen years old. I learned
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Speaker 4: the value and importance of money early on. My partner
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Speaker 4: and I are planning to move onto our boat we
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Speaker 4: bought last year. I want to save money. We won't
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Speaker 4: have to pay rent, water or electricity money in What
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Speaker 4: We Love a boat story?
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Speaker 2: Oh my gosh, yes, like this entire podcast has been
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Speaker 2: throwing below deck vibe for so long. Money Drest, welcome
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Speaker 2: to the show. Do you have a below decks boat?
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Speaker 5: Hello? And no, not that fancy?
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Speaker 2: A boat's still a boat.
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Speaker 4: You're doing better than me.
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Speaker 2: Oh my gosh, yes, imagine owning a boat. Glenn James
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Speaker 2: owns a boat. He's pretty fancy. He is pretty fancy.
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Speaker 2: Let's get into the money questions though, Money Darrist, are
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Speaker 2: you ready?
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Speaker 5: I hope?
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Speaker 2: So, all right, let's give it a crack. The first
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Speaker 2: question is, actually, can you tell us a little bit
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Speaker 2: about your money story?
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Speaker 6: Well, as you said, my parents retired when I was
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Speaker 6: quite young, still in high school and I'm an only child.
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Speaker 6: My parents also divorced when I was I think twelve,
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Speaker 6: so I lived with mum. She yeah, retired, so I
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Speaker 6: guess was on I'm not sure which things she was on,
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Speaker 6: but government allowance, and yeah, it was quite tight. She
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Speaker 6: was quite open with me most of the time about
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Speaker 6: bill's and how much she had in a bank account.
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Speaker 6: And it was really scary for a lot of the
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Speaker 6: time time knowing that you had, you know, one hundred
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Speaker 6: dollars to last the rest of the week or until
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Speaker 6: she got.
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Speaker 5: Paid or whatnot.
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Speaker 6: But I do think I was still, yeah, very privileged
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Speaker 6: in she owned her own house and I never went
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Speaker 6: without what I needed. I went to a private Christian school,
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Speaker 6: but that was from inheritance from my grandmother that passed away.
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Speaker 2: So what a good use of inheritance. Yeah that was
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Speaker 2: how cool.
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Speaker 6: The deal that under the age of twenty one or
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Speaker 6: whatever it was, it could only be used towards education.
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Speaker 2: Yeah, that's quite what a smart grandma. Yeah she had
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Speaker 2: your back. I love that. And how old was your
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Speaker 2: mum when she decided to retire.
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Speaker 6: My parents are a bit older, so she had me
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Speaker 6: at forty two, so she.
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Speaker 2: Would have been fifty four if you were twelve.
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Speaker 6: I think I was fourteen or fifteen when she retired,
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Speaker 6: so a few more years on, but yeah.
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Speaker 2: You got around about then. Yeah, still young, still young
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Speaker 2: enough to enjoy the fact that she was retiring, which
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Speaker 2: is kind of nice as well.
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Speaker 5: Yeah, she's always been. She's still so busy.
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Speaker 6: She does a lot of volunteer work and community stuff,
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Speaker 6: so she just doesn't stop.
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Speaker 2: Oh I love that though. All right, next question, money Diarist,
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Speaker 2: is what do you do for work and how much
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Speaker 2: money do you earn?
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Speaker 5: So I am a full time university student and I
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Speaker 5: also work as a disability support worker thirty plus hours
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Speaker 5: a week.
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Speaker 2: Wow, like full time and then basically full time.
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Speaker 5: Yeah, it's intense, Oh my gosh.
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Speaker 2: And how much money do you earn from that job?
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Speaker 5: Approximately about sixty thousand a year.
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Speaker 2: Hey, that's not bad for a full time UNI student.
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Speaker 2: That's really good. Yeah. All right, leading into the next
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Speaker 2: question because I want to know what you're doing with
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Speaker 2: that money. What is your big money goal?
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Speaker 6: Ah, So for my partner and I last year, it
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Speaker 6: was to buy the boat, which we did at the
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Speaker 6: end of last year, and now we have a few
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Speaker 6: different things pending our life I guess for the end
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Speaker 6: of next year would be to buy an investment house,
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Speaker 6: and then we also want to do a bit of traveling.
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Speaker 2: Very cool. Can I be super pervy? How much does
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Speaker 2: a boat cost?
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Speaker 5: We bought ours for forty thousand dollars.
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Speaker 2: Oh my gosh, that's so much money. I love that.
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Speaker 2: Tell me about your boat, though, Like so it's just
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Speaker 2: looking at me like asking these questions, like what is it?
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Speaker 2: It's like, clearly not a dinghy if you're going to
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Speaker 2: be moving on to it. So tell me about the boat.
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Speaker 5: Yeah, it's a liver board.
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Speaker 6: It's a thirty five foot bounty, so it's still small,
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Speaker 6: but it's livabool for two people. I guess, got a
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Speaker 6: little kitchen or toilet, little like dating area.
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Speaker 2: Everything you can. You're going to like moore it in
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Speaker 2: a you know what. I'm going to go back to
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Speaker 2: the questions because Jess is going to get me. Next
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Speaker 2: question is do you have any investments currently apart from
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Speaker 2: super no epic? Next question do you have any debts?
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Speaker 5: Just my hex step?
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Speaker 2: How much is your hex step? My friend?
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Speaker 5: I think it's just under third two thousand currently.
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Speaker 2: Not too bad. And how do you feel about it?
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Speaker 4: Yeah?
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Speaker 6: Pretty good, so as well with that inheritance I got
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Speaker 6: my Oh no, sorry, it wasn't the inheritance. My parents
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Speaker 6: when I was younger set up a scholarship thing and
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Speaker 6: I think it might have been twenty thousand dollars was saved.
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Speaker 6: And because I have another degree I did when I
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Speaker 6: first finished high school and that went towards that, So
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Speaker 6: that was awesome.
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Speaker 2: Hey, that's really cool.
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Speaker 4: What was your first degree that you did?
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Speaker 5: I did a Bachelor of Social Science.
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Speaker 2: Yeah, awesome, very cool. Story checks out. That makes a
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Speaker 2: lot of sense. Next question, do you currently use shop back?
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Speaker 6: Yes, not often, as I don't buy a lot of stuff,
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Speaker 6: but I do use it.
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Speaker 2: Oh what did you last purchase on shop back? My friend?
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Speaker 5: Protein powder?
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Speaker 2: Oh my gosh, what I'd love asking this question because
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Speaker 2: it's always so interesting, like what what kind of protein powder?
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Speaker 2: Are we talking? Is this like real niche content or
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Speaker 2: are you like Victoria? I just got it at Cole's.
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Speaker 6: Yeah, I just got back into the gym. We're trying
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Speaker 6: to so I thought i'd better buy some protein powder.
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Speaker 2: And yeah, a money win is a money win, am
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Speaker 2: I right? Absolutely? All right? What is your best money habit?
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Speaker 2: Money diarist?
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Speaker 6: My worst money habit I would say is when I
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Speaker 6: do have a goal, I say really hard.
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Speaker 2: I love that, all right? What is your worst money habit?
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Speaker 6: So I get a bit stressed out and anxious and
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Speaker 6: I find that, say I have a university assignment or
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Speaker 6: something going on and I have a deadline, I will
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Speaker 6: splurge and buy takeout or treat myself because I just
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Speaker 6: have to get through that day.
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Speaker 2: I don't know if that's bad. I feel like that's
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Speaker 2: a coping mechanism. My friends, like, you just said you
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Speaker 2: have a stressful day, so you get takeaway to make
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Speaker 2: it feel better, Like, oh, Jess is looking at me again,
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Speaker 2: She's gonna be no victoria. Some people think that's bad,
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Speaker 2: and I'm like, oh, that's how I live my life
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Speaker 2: and cope with. We just dress, Mexican food, everything in moderation,
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Speaker 2: Everything in moderation. That's not the worst. And money diarist,
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Speaker 2: last question before we go to a quick break. If
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Speaker 2: we forced you to give yourself a grade, what would
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Speaker 2: you grade your money habits?
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Speaker 5: I think a B and why would you give yourself
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Speaker 5: a bee?
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Speaker 6: I think I do well in certain areas, but there's
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Speaker 6: also a lot I can improve on that.
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Speaker 2: I think that seems really fair. I thought she was
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Speaker 2: going to say, bee for a boat. Let's go to
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Speaker 2: a quick break. We'll be right back after this. All right,
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Speaker 2: we are back and money diarist. I want to know
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Speaker 2: what possessed you and your partner to turn around and go,
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Speaker 2: do you know what? We should buy a boat?
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Speaker 6: So it's always been my partner's dream to buy a boat,
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Speaker 6: as he grew up in a family that sales, and
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Speaker 6: I guess it's become my dream as well since being together.
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Speaker 6: And yeah, it was really a to find out that
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Speaker 6: you can live on one and save a lot of
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Speaker 6: money doing so and not have to pay rent.
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Speaker 2: Oh my gosh, So tell me about how that works,
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Speaker 2: because you can't do you just like take it out
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Speaker 2: into the bay and leave it there and you just
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Speaker 2: live on that boat in the middle of the bay.
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Speaker 2: Like do you have to pay mooring or something somewhere?
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Speaker 1: Like?
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Speaker 2: How does all this work?
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Speaker 6: So technically you can't live on a vessel for a
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Speaker 6: period of time in New South Wales, so we will
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Speaker 6: move to Queensland. Does it's more of a common thing
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Speaker 6: in Queensland And you can live on boats in Queensland.
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Speaker 2: Oh, you can't in New South Wales.
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Speaker 6: It's only for like a period of time, or you
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Speaker 6: have to keep moving around. Yeah okay, yeah, So there's
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Speaker 6: two options. You either live in a marina, which is
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Speaker 6: a little bit more expensive because you're paying for the
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Speaker 6: facilities and it's just easier use, I guess, but it's
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Speaker 6: still severely cheaper than renting.
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Speaker 2: Yeah.
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Speaker 5: And then the other.
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Speaker 6: Option is a mooring, which is obviously out in the
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Speaker 6: water and you would have to paddle in and out
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Speaker 6: and that is ridiculously cheap.
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Speaker 2: Oh which one are you doing, my friend?
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Speaker 6: I think we will start out in a marina to
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Speaker 6: get used to doing that, and then the goal is
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Speaker 6: to get out to a mooring.
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Speaker 2: Oh wow, And how do you find a mooring? Do
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Speaker 2: you just go this looks like a nice patch emotion,
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Speaker 2: I'm going to live right here.
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Speaker 6: I'm not one hundred percent sure yet. It's all very
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Speaker 6: new to me. I think you like through contacts?
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Speaker 2: Yeah wow, how cool. So what happens on the boat?
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Speaker 2: So you said you don't have to pay for like
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Speaker 2: water or electricity or anything like that, Like what power
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Speaker 2: is the boat?
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Speaker 1: Then?
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Speaker 6: So you have your main batteries and then you have
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Speaker 6: solar panels and our boat has a wind generator, so
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Speaker 6: that's what powers everything, and you still have to be
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Speaker 6: quite cautious of how much energy you use.
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Speaker 4: Yeah, it sounds much more environmentally friendly as well if
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Speaker 4: you're generating all of that power that you're using from
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Speaker 4: like the elements rather than you know, cold generated power,
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Speaker 4: which is quite cool, fun little.
10:59
Speaker 5: Start of effection.
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Speaker 2: Yeah, and so talk to me about work. So if
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Speaker 2: you're living at a marina, I'm just so interested in
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Speaker 2: the way other people live their lives. So if you're
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Speaker 2: living at a marina, do you wake up every morning,
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Speaker 2: you have a quick shower on the boat, do your hair,
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Speaker 2: do you make up, and then go to work, Like
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Speaker 2: you get off your boat and go to work. Is
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Speaker 2: that how that works?
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Speaker 6: Yeah, you have to be very minimalistic, I guess, and
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Speaker 6: I don't really wear makeup and I'm just a quick
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Speaker 6: get ready person. So either yeah, shower at the marina
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Speaker 6: or get a GEM membership and shower there. And then
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Speaker 6: also in disability the houses I work out, there's like
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Speaker 6: a bathroom I could use if I really wanted to.
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Speaker 2: Yeah, that's quite cool. So it like really fits with
11:39
Speaker 2: the job that you've got and the lifestyle that you're living. Yeah,
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Speaker 2: so talk to me more about how this is working
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Speaker 2: towards your future goal. You said before that you and
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Speaker 2: your partner are saving and you want to buy a
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Speaker 2: house and all of this other stuff. How much quicker
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Speaker 2: are you going to be able to save for a
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Speaker 2: home because you're living on your boat.
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Speaker 5: A lot quicker.
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Speaker 6: So at the moment, we pay four thirty week ignorant,
12:01
Speaker 6: so obviously we'll have a few expenses with the boat,
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Speaker 6: but counting maybe half of that in each week, it'll
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Speaker 6: be a larger chunk and it will make it a
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Speaker 6: lot quicker.
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Speaker 4: Have you actually run the numbers, because I'm assuming when
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Speaker 4: you were kind of deciding whether to get out on
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Speaker 4: the boat or continue living the way you were in
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Speaker 4: terms of what you'll be saving on rent and utilities
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Speaker 4: and all of those other general lifestyle costs.
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Speaker 6: Yeah, so there's still a few little expenses with the boat,
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Speaker 6: like the moor angle, the marina and whatnot. But I'd
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Speaker 6: say it's approximately fifteen thousand.
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Speaker 2: A year, my gosh, and that will obviously get you
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Speaker 2: so much closer to a home so much quicker. What's
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Speaker 2: the plan then you're going to buy? You mentioned before
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Speaker 2: an investment property? Is that so that you can invest
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Speaker 2: and then potentially retire early like your parents did, or like,
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Speaker 2: what's the plan, my friend?
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Speaker 6: Both my partner and I love adventure and traveling, so
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Speaker 6: that's really our main goal.
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Speaker 5: I guess, to enjoy life and live it to it's full.
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Speaker 6: We've got some great family and friends around us that
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Speaker 6: have invested and invested well, so we have their feedback
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Speaker 6: to get into the market as early as possible, and yeah,
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Speaker 6: build I guess our.
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Speaker 5: Retirement off that.
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Speaker 4: Yeah, you said you love adventure, will you be I
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Speaker 4: guess using the boat as a partner, Like, would you
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Speaker 4: travel on the boat as well around Australia or areas?
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Speaker 6: Yeah, so that's my boyfriend's big dream, and then I'm
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Speaker 6: more of a travel overseas so yeah, I really really
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Speaker 6: hope that we can use the boat and sail overseas. Otherwise, yeah,
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Speaker 6: we'll be sailing around Australia.
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Speaker 4: You'd save so much money on that aspect as well,
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Speaker 4: because as we know, we've just booked a trip and
13:53
Speaker 4: accommodation is so expensive. So if you can take the
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Speaker 4: boat places, in addition to having I guess saved on
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Speaker 4: your normal living expenses, you'd be saving on your holiday
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Speaker 4: as well, which is pretty cool.
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Speaker 6: Yeah, and the current degree I'm studying is high school teaching,
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Speaker 6: so yeah, I've only recently found out that I will
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Speaker 6: be able to stop in different places if we do
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Speaker 6: go around Australia and just pick up casual work.
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Speaker 2: Yeah, that's awesome to be really pervy. Again, what does
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Speaker 2: your partner do? How's this going to fit with his
14:24
Speaker 2: work and lifestyle.
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Speaker 6: He's a disability support worker as well, so Hey said, hey, yeah,
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Speaker 6: just pick up work where he can.
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Speaker 2: Oh my gosh, you were two peas in a pod
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Speaker 2: or two peas on a boat. I feel like that's
14:36
Speaker 2: really sweet. All right, money direst you're going to say
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Speaker 2: like fifteen grand extra a year. Obviously that takes a
14:42
Speaker 2: little bit of financial pressure off. But earlier in the podcast,
14:45
Speaker 2: you mentioned that your worst money habit was that you
14:47
Speaker 2: stress about money. How are you dealing with that?
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Speaker 5: So I'm still stressed.
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Speaker 6: I'm always I'm earning the most I've ever earned, but
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Speaker 6: i still find myself so anxious that I'm not going
15:00
Speaker 6: to be financially secure, I guess, and be able to
15:05
Speaker 6: be financially stable just in the future.
15:08
Speaker 2: Why do you think that's the case. Obviously, you've got
15:11
Speaker 2: a good job, you're a UNI student. It sounds like
15:14
Speaker 2: you're a massive hustler. Why do you think that's taking
15:16
Speaker 2: up so much of your mental space at the moment.
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Speaker 6: I think I've always been a casual shift worker throughout
15:23
Speaker 6: all the different jobs I've done since school, and I've
15:26
Speaker 6: never had the Monday till Friday full time job. So yeah,
15:32
Speaker 6: just that stability I guess I've never had.
15:35
Speaker 2: Do you find that it's something that you're craving or
15:37
Speaker 2: is it something you're like, oh my gosh, everybody else
15:39
Speaker 2: has this, so I want it. Like is it potentially
15:42
Speaker 2: a bit of you maybe not looking at your own
15:45
Speaker 2: journey and really comparing your journey to that of everybody
15:48
Speaker 2: around you.
15:48
Speaker 6: Maybe I think it's a bit of both. I do
15:52
Speaker 6: wish sometimes to have that routine during the week as
15:57
Speaker 6: doing shift work, I really struggle with, you know, my
16:00
Speaker 6: own self care, like going to the gym or appointments,
16:03
Speaker 6: that sort of thing. And then also, yeah, probably a
16:08
Speaker 6: bit of saying other people's lives.
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Speaker 2: Yeah, I think it's one of those things that a
16:13
Speaker 2: lot of people in our community are probably resonating with
16:16
Speaker 2: right now. They're like, oh my gosh, she sounds so cool.
16:18
Speaker 2: She's just bought a boat, she's saving for home, her
16:20
Speaker 2: and her partner are basically living the dream. But you're
16:23
Speaker 2: still really stressed about money, which is not where we
16:26
Speaker 2: want to be. So what I would probably look at
16:29
Speaker 2: is really making sure that you're on top of your
16:31
Speaker 2: budget and cash flow, Like, do you have a really
16:34
Speaker 2: structured budget and cash flow plan that you go, no,
16:37
Speaker 2: I know what's going on. I do have an emergency fund.
16:40
Speaker 2: I do know what would happen. I think that once
16:42
Speaker 2: we really start to look at the bigger picture and
16:44
Speaker 2: go all right, well, have I got my financial stuff sorted? Yes,
16:48
Speaker 2: probably sounds like you do, my friend, It's actually about
16:51
Speaker 2: working backwards and going, well, where's this money anxiety coming from?
16:54
Speaker 2: And that's why we always talk about money stories and
16:57
Speaker 2: where they come from, because more often than not, as
17:00
Speaker 2: much as money in the every day is super stressful,
17:04
Speaker 2: this stuff actually is usually underlying. It could be underlying
17:07
Speaker 2: stress from growing up and before you mentioned your mum
17:10
Speaker 2: and you know, not having one hundred dollars in the
17:12
Speaker 2: bank account to last the rest of the week until
17:14
Speaker 2: she got paid. Like, this is stuff that I actually
17:17
Speaker 2: really promote people to even just like organize a time
17:20
Speaker 2: with a therapist, or organize a time with a counselor
17:23
Speaker 2: to sit down and go all right, I need to
17:24
Speaker 2: talk this through because I'm actually in a pretty good
17:27
Speaker 2: financial situation, but it just feels all overwhelming and all encompassing.
17:32
Speaker 2: Is that something you'd consider?
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Speaker 5: Yeah, one hundred percent.
17:35
Speaker 2: I feel like that's Unfortunately all we have time for today, guys,
17:39
Speaker 2: just before we head off, can you wrap the boring
17:42
Speaker 2: but important stuff? Absolutely so.
17:44
Speaker 4: Don't forget, guys that the advice shed on She's on
17:46
Speaker 4: the Money is general in nature and does not consider
17:48
Speaker 4: your individual circumstances. She's on the money exists purely the
17:52
Speaker 4: educational purposes and should not be relied upon to make
17:55
Speaker 4: an investment or a financial decision. And we promise Victoria
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Speaker 4: two three six five two three.
18:10
Speaker 2: Good work, jes see you on Wednesday, guys, see then