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MONEY DIARIES: Late Blooming Law Student · She's On The Money

• 0:00
  Speaker 1: She's on the Money. She's on the Money.
• 0:22
  Speaker 2: Hello, and welcome to She's on the Money, the podcast
• 0:25
  Speaker 2: for millennials who want financial freedom. My name is Tony Lodge,
• 0:29
  Speaker 2: and joining me for another shot back money Diary is
• 0:32
  Speaker 2: Victoria Devine.
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  Speaker 3: Hello, Hello, Tony Lodge.
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  Speaker 2: I've got a great money diary for you again this week,
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  Speaker 2: which I say every single week and by our intros.
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  Speaker 2: But they're all really good.
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  Speaker 3: Look I tend to agree, But at the same time,
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  Speaker 3: maybe we could think of something more creative to say,
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  Speaker 3: or maybe we could just get into the money Diary.
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  Speaker 3: How about that?
• 0:52
  Speaker 2: Okay, I'll say something better next week.
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  Speaker 3: All right, the problems? All right, Tony, can you read
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  Speaker 3: out this week's money dores email for me?
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  Speaker 2: All right, here we go. Hi, She's on the Money team.
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  Speaker 2: I'm a twenty five year old full time UNI student,
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  Speaker 2: full time legal assistant who has only in the last
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  Speaker 2: twelve months got my acts together with my finances and
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  Speaker 2: plan my goals financial and otherwise for the next few years.
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  Speaker 2: I've always been a bit of a late bloomer, and
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  Speaker 2: while many of my friends had successful high school careers,
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  Speaker 2: I did not really start to come into my own
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  Speaker 2: until the last two years. Many of my friends have
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  Speaker 2: recently kicked massive life goals such as buying a house,
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  Speaker 2: having a baby, and getting married while I'm still at
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  Speaker 2: UNI after five years. Even though I fully intend and
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  Speaker 2: want to achieve those things as well, it can be
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  Speaker 2: hard to fight the false feeling of remaining stagnant. I
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  Speaker 2: was so thrilled to discover your podcast, as it really
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  Speaker 2: gave me the kick up the bar I needed to
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  Speaker 2: take actionable steps to organize my finances. I still have
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  Speaker 2: a long way to go, but can finally say I'm
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  Speaker 2: proud of where I'm at in life and of what
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  Speaker 2: I've achieved. I'm with Jess on this one. I believe
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  Speaker 2: in the power of manifestation and I'm so excited to
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  Speaker 2: see what goals I smash in the future now that
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  Speaker 2: I have some conviction behind me. Regards late blooming law student.
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  Speaker 3: Oh I love this. I can't wait. And Tony, now
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  Speaker 3: I know exactly why you were having a joke about
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  Speaker 3: me not doing anything too naughty or saying anything too
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  Speaker 3: rude because she's a legal assistant.
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  Speaker 2: Uh huh, she knows her stuff.
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  Speaker 3: Yeah, all right. Well, as always, we have our money
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  Speaker 3: diarist on the line, so we can ask them lots
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  Speaker 3: of questions about their personal financial situation and how they
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  Speaker 3: do what they do. Welcome to the show Money Diarist.
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  Speaker 4: Hello, I'm really happy to be here.
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  Speaker 3: We are really happy that you're here. Honestly, this will
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  Speaker 3: be fun and I think it's one of those things
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  Speaker 3: that if you're at UNI, and you've been at UNI
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  Speaker 3: for an extended period of time, you just automatically feel behind.
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  Speaker 3: And I can really resonate with that. As someone who's
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  Speaker 3: done seven years of university. I just remember seeing all
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  Speaker 3: my friends who potentially started working after school and didn't
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  Speaker 3: go through that UNI journey. You kind of go, oh, okay, well,
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  Speaker 3: you know, I'm in my I would say, mid twenties
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  Speaker 3: now on their buying houses and doing things that I'm not.
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  Speaker 3: Am I behind. No, you're not just summary of this.
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  Speaker 3: I know you're not. So let's get into the questions.
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  Speaker 3: As always, the first question is what is your attitude
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  Speaker 3: towards money?
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  Speaker 5: So my attitude towards money has really changed in the
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  Speaker 5: last two years.
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  Speaker 2: It sounds like it.
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  Speaker 4: Oh my gosh, Yeah, it really has.
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  Speaker 5: Because my parents have always taught me that money is
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  Speaker 5: something that should stay within the family and we don't
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  Speaker 5: talk about it with anyone else, and my dad is
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  Speaker 5: very high earning. He's one of the top professionals in
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  Speaker 5: his industry. So I've always been really lucky to have
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  Speaker 5: everything that I've always wanted them needing growing up. My
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  Speaker 5: brother and I have always been provided for. And my
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  Speaker 5: first time overseas was when I was only six months
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  Speaker 5: old because both my parents, I know, it's amazing because
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  Speaker 5: both my parents were born overseas, so we were just
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  Speaker 5: really lucky to be able to travel and see our
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  Speaker 5: family overseas.
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  Speaker 4: I've had a very privileged outbreaking, so I've.
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  Speaker 3: Always had that you say that, I love that you
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  Speaker 3: say that, You're like, I want to overseas it six
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  Speaker 3: months old, But I'm quite clearly aware of the fact
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  Speaker 3: that that's not that normal. Like I think I went
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  Speaker 3: overseas and this is again privileged for the first time
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  Speaker 3: when I was like fourteen, and it was the only
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  Speaker 3: overseas trip I ever went on with my family before
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  Speaker 3: you know, ending actually ever and it was to Fiji.
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  Speaker 3: And I remember going to Fiji for a week and
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  Speaker 3: that was so wild, like it was like one of
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  Speaker 3: those all expenses paid like trips where yeah, yeah, yeah, where,
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  Speaker 3: Like the ice cream was like never ending and kids
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  Speaker 3: Club was like free. It was so fun. But yeah,
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  Speaker 3: I remember growing up at school looking at all the
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  Speaker 3: kids that went overseas during school holidays and stuff, and
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  Speaker 3: be like, Oh, do they know how lucky they've got it?
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  Speaker 3: I'm glad money direst that you know?
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  Speaker 5: Well, honestly, I didn't until I started dating my current
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  Speaker 5: partner because he comes from a very different background from me,
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  Speaker 5: because he's the first in his family to go to
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  Speaker 5: university and I come from a family of lawyers, so
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  Speaker 5: it was always expected that I would go to university.
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  Speaker 5: And for his family, they've never been very high earning.
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  Speaker 5: And he really taught me how lucky I am and
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  Speaker 5: help me shine a light on my privilege. And before that,
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  Speaker 5: I took a lot of stuff for granted, and I
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  Speaker 5: just didn't really realize how lucky I am to always
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  Speaker 5: have my parents to rely on financially, whereas he's always
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  Speaker 5: had to support himself.
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  Speaker 3: Wow, how did that revelation feel?
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  Speaker 5: Like?
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  Speaker 3: At what point in your relationship did you realize that?
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  Speaker 3: Was that in the initial dating phases or a little
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  Speaker 3: bit later? Like how does that come about or that
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  Speaker 3: topic come about in a relationship?
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  Speaker 4: It's an ongoing process.
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  Speaker 5: Honestly, even now, he'll sometimes still call me out for
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  Speaker 5: my privilege, because sometimes I'll still like accidentally slip into
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  Speaker 5: bad habits and let my parents pay for something for me,
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  Speaker 5: or I'll let them support me with my growth theories
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  Speaker 5: or something like that, and my partner will say, actually,
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  Speaker 5: you know, I'm not sure if you should be doing that,
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  Speaker 5: or you know, who'll remind me that I am working
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  Speaker 5: full time and I should be able to support myself financially.
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  Speaker 5: So it's an ongoing process, but I think you need
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  Speaker 5: to be open to being able to acknowledge our own
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  Speaker 5: biases and being able to say, oh, actually I need
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  Speaker 5: to call myself out as well.
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  Speaker 3: Oh I really like that. You seem like you're really
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  Speaker 3: switched on, and I guess kind of humble about that
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  Speaker 3: situation as well. You're like, oh yeah, actually, like I
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  Speaker 3: really like that. All right, Next question, what do you
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  Speaker 3: currently do for work and how much money do you earn?
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  Speaker 5: So as Tony said, I am a full time legal assistant,
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  Speaker 5: which I have been doing for three years now, and
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  Speaker 5: I earn fifty five thousand dollars a year.
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  Speaker 3: Hey, that's pretty good for a UNI student.
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  Speaker 2: Are you studying full time and working full time.
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  Speaker 5: This semester, I am studying full time as well as
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  Speaker 5: working full time, but normally I've been doing It's a lot, honestly.
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  Speaker 2: Yeah, it would be a lot, and not just time wise,
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  Speaker 2: but like the mental capacity for working a full time
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  Speaker 2: job and being across that and also trying to learn
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  Speaker 2: and like fill your brain with new information.
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  Speaker 5: Absolutely, I find I'm so tired at the end of
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  Speaker 5: the day because I distant thinking all day at work
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  Speaker 5: and then I have to go and do some more
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  Speaker 5: thinking my university studies, like the last thing I want
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  Speaker 5: to do more thinking.
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  Speaker 3: Like I totally get that. And I don't know if
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  Speaker 3: you slip into that mindset of like you might be
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  Speaker 3: at you need doing something and you just can't wait
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  Speaker 3: to get home, and it's like you have blinkers on
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  Speaker 3: and you completely forget you've got all these other commitments.
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  Speaker 3: You get home, you feel relaxed, and you're like this
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  Speaker 3: overwhelming sense of droid. You're like, Oh, I've got an assignment.
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  Speaker 3: Oh I've got to get this work thing done. You're like, oh, no,
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  Speaker 3: is this ever going to end?
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  Speaker 4: Yeah? Definitely.
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  Speaker 5: And I think that's like the whole point of my
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  Speaker 5: money story really is that the mental load of studying and.
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  Speaker 4: Working is so heavy, and it can be really.
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  Speaker 5: Hard not to compare yourself to other people, especially when
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  Speaker 5: they've had different journeys from me.
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  Speaker 3: Yeah, of course, of course. So can you tell me
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  Speaker 3: a little bit about your living situation? Are you living
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  Speaker 3: out of home? Are you living at home? Do you
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  Speaker 3: live with a partner? What does that look like for you?
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  Speaker 5: So at the moment, I am living by myself in
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  Speaker 5: Melbourne and I'm renting and my partner is living in
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  Speaker 5: Queensland because he's finishing up his Masters of Teaching, so
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  Speaker 5: we're doing the law distance thing at the moment.
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  Speaker 4: Yeah, so that's how does that go? It's been really hard, honestly,
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  Speaker 4: because I moved.
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  Speaker 5: I used to live in Melbourne and I always knew
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  Speaker 5: that I wanted to move back, so I moved from
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  Speaker 5: Brisbane to Melbourne last year and I was really happy
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  Speaker 5: that I made that decision, by it meant I was
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  Speaker 5: living alone for all the lockdowns, and that was really
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  Speaker 5: really hard because I didn't have my family, I didn't
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  Speaker 5: have my partner, and I have friends in Melbourne, but
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  Speaker 5: obviously I couldn't see them because of the lockdowns.
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  Speaker 4: Wow, that was really hard on you.
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  Speaker 5: Mentally living alone. Honestly, it took a really big toll
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  Speaker 5: on my mental health. And last year I had a
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  Speaker 5: lot of support with my university studies, from my parents
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  Speaker 5: and from my partner, just because at the end of
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  Speaker 5: last year, I think we were all just feeling really
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  Speaker 5: depleted emotionally and mentally, and even though I still had
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  Speaker 5: friends coming over to the house, like I had a
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  Speaker 5: bubble buddy, which was really good, but they always go
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  Speaker 5: away after that visit and then you're alone again, which
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  Speaker 5: is really hard.
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  Speaker 3: It doesn't feel the same as being able to snuggle
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  Speaker 3: up on the couch with your partner and fall sleep
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  Speaker 3: like that's when a friend's over you. It's a bit
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  Speaker 3: like you're on all the time as well. You don't
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  Speaker 3: get that downtime with a partner, which I think is
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  Speaker 3: what I would miss the.
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  Speaker 5: Most definitely, And I think I thought twenty twenty one
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  Speaker 5: would be better, but it's actually been so much harder
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  Speaker 5: because I know, oh my gosh, I was meant to
• 9:55
  Speaker 5: go to a friend's wedding earlier this year in Queensland
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  Speaker 5: and I couldn't go, and all my friends were there
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  Speaker 5: and my partner was there, and that was so hard,
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  Speaker 5: Like that was just one of the most challenging things.
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  Speaker 3: Yeah, but hopefully we are at the end of this
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  Speaker 3: and we've found a way forward to manage COVID into
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  Speaker 3: our everyday life. So hopefully this is one of the
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  Speaker 3: last lockdowns we'll ever see.
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  Speaker 5: Yeah, I think it's crossed. And that's why I decided
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  Speaker 5: to come back to Queensland for a while, because I
• 10:24
  Speaker 5: was like, I'm just gonna go see my partner. So
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  Speaker 5: I'm actually in hotel quarantine at the moment, but I'll
• 10:30
  Speaker 5: get out on Friday.
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  Speaker 3: Oh my gosh, how's hotel quarantine going.
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  Speaker 5: I mean, I feel like I've handled it really well
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  Speaker 5: because I have a positive attitude. But it's definitely been
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  Speaker 5: really tough, and the second half is definitely harder, I think,
• 10:44
  Speaker 5: because yeah, it just feels like a really long two weeks.
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  Speaker 3: Yeah, I can imagine.
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  Speaker 5: All right.
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  Speaker 3: Next question back on track is money, Durist, what is
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  Speaker 3: your big money goal at the moment.
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  Speaker 5: So at the moment, my big money goal is to
• 11:02
  Speaker 5: save for my emergency fund. I have about seven thousand
• 11:07
  Speaker 5: dollars in that at the moment.
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  Speaker 4: But this year I.
• 11:09
  Speaker 3: Got she's already got an emergency fund.
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  Speaker 5: I do, I do, but I'm that kind of person
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  Speaker 5: who can't live with like twenty dollars in my bank account,
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  Speaker 5: Like I just cannot do that. I need to have
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  Speaker 5: that mental security to know that I have that money there.
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  Speaker 4: And I would have had a lot more on my account.
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  Speaker 5: But this year I actually spent a lot of money
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  Speaker 5: on me, Like I did a group therapy program just
• 11:34
  Speaker 5: to work on some issues that I've been struggling with,
• 11:37
  Speaker 5: and I'm training for a half marathon in December at
• 11:40
  Speaker 5: the moment.
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  Speaker 4: So I spent a lot of.
• 11:43
  Speaker 5: Money this year on me, and I definitely do feel
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  Speaker 5: a bit guilty about that, which I.
• 11:47
  Speaker 3: Think is from that you didn't spend a lot of
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  Speaker 3: money on you this year. You invested a lot of
• 11:53
  Speaker 3: money on you this year, and going through so much isolation,
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  Speaker 3: I feel like that was money well spent. You didn't say, Hey,
• 12:01
  Speaker 3: I went and bought a whole heap of shoes and
• 12:02
  Speaker 3: clothes and all the stuff that Victoria's been buying online.
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  Speaker 3: I did group therapy and I'm working.
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  Speaker 1: I did that.
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  Speaker 3: Yeah, but we don't, like, let's just sweep that bit
• 12:11
  Speaker 3: under a rug. But I think it's really important to
• 12:14
  Speaker 3: not feel guilty about that spending because what you just
• 12:17
  Speaker 3: told me was you still have a pretty safe emergency
• 12:20
  Speaker 3: fund if anything went wrong, And it's not like you've
• 12:22
  Speaker 3: gone into debt for these things. So I don't think
• 12:25
  Speaker 3: we need to carry guilt for decisions like that.
• 12:28
  Speaker 4: Absolutely.
• 12:29
  Speaker 5: I think from what I can tell them that she's
• 12:31
  Speaker 5: on the money community. There are a lot of other
• 12:33
  Speaker 5: people who feel the same way about spending money, and
• 12:36
  Speaker 5: they think it's just about changing your mindset and changing
• 12:39
  Speaker 5: that conversation that you have with yourself, which can be
• 12:42
  Speaker 5: really hard sometimes, but it's a daily practice.
• 12:44
  Speaker 3: I find absolutely agree. All right, next question is do
• 12:49
  Speaker 3: you currently have any investments?
• 12:52
  Speaker 4: I do so.
• 12:53
  Speaker 5: I signed up to Spaceship and Raise after listening to
• 12:57
  Speaker 5: the podcast, and I do it.
• 13:00
  Speaker 4: Thank you.
• 13:00
  Speaker 5: I'm doing the Ryan John five dollars a day coffee
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  Speaker 5: thinges genius. I already have over one thousand dollars in
• 13:07
  Speaker 5: my Raise accounts, so, oh my gosh, what I know.
• 13:11
  Speaker 3: It just adds up this coffee thing. Like I am
• 13:14
  Speaker 3: not an advocate of just getting rid of daily coffees.
• 13:16
  Speaker 3: I think I've said on the podcast before it's a
• 13:18
  Speaker 3: no from me, but being between best five dollars a day,
• 13:22
  Speaker 3: she really adds up.
• 13:23
  Speaker 4: But I also have six thousand dollars in six Park
• 13:28
  Speaker 4: and I also have Yeah.
• 13:30
  Speaker 5: And they also have some shares that I bought myself
• 13:34
  Speaker 5: on the stock market from nab Trade.
• 13:36
  Speaker 3: Oh my gosh, she's a hustler.
• 13:39
  Speaker 4: All right.
• 13:39
  Speaker 3: Next question is do you currently have any debts? Tony.
• 13:44
  Speaker 3: I think we know the answer to this one, but
• 13:46
  Speaker 3: we've still got to ask its process.
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  Speaker 5: I actually don't have any debts at the moment. I
• 13:53
  Speaker 5: will have to pay for my hotel quarantine, which will
• 13:56
  Speaker 5: be very expensive, but for me it's.
• 13:58
  Speaker 4: Definitely worth it.
• 14:00
  Speaker 5: I'm also really lucky, and I know this is a
• 14:02
  Speaker 5: really privileged position to be it, but my parents have
• 14:05
  Speaker 5: actually been paying for my university fees and I've been
• 14:09
  Speaker 5: paying them back yeah, because they want to teach me
• 14:12
  Speaker 5: about having a loan and paying it back. And I
• 14:15
  Speaker 5: understand that most people aren't in a position where they're
• 14:18
  Speaker 5: able to do that, but I'm really grateful to my
• 14:20
  Speaker 5: parents that they are financially able to support me in
• 14:23
  Speaker 5: that way. And they've also taught me about budgeting and
• 14:26
  Speaker 5: saving because every year I have to pay them for
• 14:28
  Speaker 5: my university fees, and then at the end, when I graduate,
• 14:32
  Speaker 5: I won't have a hex step which is really great.
• 14:34
  Speaker 3: Yeah, which I think is really cool again, really grateful
• 14:38
  Speaker 3: that you're calling out yourn privilege there, but at the
• 14:40
  Speaker 3: same time, like it's cool for us to learn that.
• 14:42
  Speaker 3: That's how you're learning how to budget and save and invest.
• 14:46
  Speaker 3: And you know, I've got a hex stet and I'm
• 14:48
  Speaker 3: kind of treating it in the same way that you're
• 14:50
  Speaker 3: potentially treating your parents. So I think we can all
• 14:52
  Speaker 3: learn from going to university having those fees at the
• 14:55
  Speaker 3: end of the day. Thankfully, our help system means that
• 14:58
  Speaker 3: we're not incurring significant an interest on it. But to
• 15:01
  Speaker 3: be in the position where you're not gonna have your
• 15:03
  Speaker 3: help GEBT taken out of your future income, like, oh,
• 15:06
  Speaker 3: I would have liked to be in that position. That
• 15:08
  Speaker 3: sounds like a nice position to be in.
• 15:11
  Speaker 4: Yeah, definitely.
• 15:11
  Speaker 5: And a law degree is so expensive as well, And
• 15:14
  Speaker 5: I'm doing a double degree, so I'm doing a law
• 15:17
  Speaker 5: degree and then also a degree in fine arts with honors,
• 15:20
  Speaker 5: so at the end I'm going to have a smart
• 15:22
  Speaker 5: tony girl. I'm super creative as well, so I really
• 15:26
  Speaker 5: wanted to do a double degree so I have that
• 15:28
  Speaker 5: creative output as well, because law can be really dry sometimes,
• 15:32
  Speaker 5: so it's good to have something fun to do.
• 15:35
  Speaker 3: Yeah. I love that that you're getting to pursue something
• 15:38
  Speaker 3: that you love as well as something that you know
• 15:40
  Speaker 3: is going to be your future career. Next question, and
• 15:43
  Speaker 3: I have a sneaky suspicion I might know the answer
• 15:45
  Speaker 3: to this because you dropped a hint before that you're
• 15:48
  Speaker 3: also good at spending money on clothes and shoes. Do
• 15:51
  Speaker 3: you use shot back?
• 15:54
  Speaker 4: I do. I've been using Tony. I know. I actually
• 15:59
  Speaker 4: love of.
• 16:00
  Speaker 5: Buying shoes and clothes a bit of a bad habit
• 16:03
  Speaker 5: of mine, but oh well, it's fine.
• 16:05
  Speaker 4: We all have our vices, but I think.
• 16:08
  Speaker 3: We all have that and we've got to normalize it.
• 16:11
  Speaker 3: Like shoes to me bring a lot of happiness.
• 16:14
  Speaker 5: It's like, I know that it's just a small serotonin berth,
• 16:17
  Speaker 5: but I still love buying clothes online.
• 16:20
  Speaker 3: As long as it's in your budget and it's in
• 16:21
  Speaker 3: line with your values. I am not here to argue
• 16:24
  Speaker 3: with you. My friend will allow it. Yeah, well we'll
• 16:27
  Speaker 3: accept that answer, all right. Next question is money, Doris,
• 16:31
  Speaker 3: what is your best money habit?
• 16:34
  Speaker 5: I think my best money habit I think I have
• 16:37
  Speaker 5: two actually, So firstly, I'm super stingy which can also
• 16:41
  Speaker 5: be a negative habit sometimes because I'm really stingy even
• 16:44
  Speaker 5: when I go overseas on holidays and things like that.
• 16:47
  Speaker 5: But it can be good because I'm really thrifty, so
• 16:50
  Speaker 5: if there is a bargain, I will hunt it out.
• 16:53
  Speaker 5: I'm like a bloodhound for a bargain.
• 16:55
  Speaker 3: And I love that.
• 16:57
  Speaker 5: I love going off shopping and buying second hand because
• 17:00
  Speaker 5: I'm really passionate about living sustainably as well.
• 17:04
  Speaker 4: And another money habit.
• 17:06
  Speaker 5: That I have that is really positive is I have
• 17:08
  Speaker 5: three different bank accounts, and I literally use one as
• 17:11
  Speaker 5: a holding bay, and then I just transfer it to
• 17:14
  Speaker 5: my other bank accounts or to my investments or wherever
• 17:17
  Speaker 5: I need that money to go smart.
• 17:20
  Speaker 3: I love that. In comparison, though, we do have to
• 17:23
  Speaker 3: ask you the next question, what is your worst money habit?
• 17:29
  Speaker 5: So I think sometimes I can get really hung up
• 17:32
  Speaker 5: on not spending money, and then I'll spend a lot
• 17:35
  Speaker 5: of money in one go, like I'll spend like three
• 17:37
  Speaker 5: hundred dollars or something like that, and then I'll be
• 17:40
  Speaker 5: really good with not spending money day to day, and
• 17:43
  Speaker 5: then I'll have a really big blowout, which is not
• 17:46
  Speaker 5: the best. And usually that's on like clothes or a
• 17:48
  Speaker 5: discretionary pressure that I don't really need.
• 17:51
  Speaker 4: Mm hmmm, all right.
• 17:53
  Speaker 3: Next question, Next and final question before we head to
• 17:56
  Speaker 3: a break is what grade would you give your money
• 17:59
  Speaker 3: habits If we forced you to give yourself a grade.
• 18:02
  Speaker 5: I'd probably give myself a bee, just because I.
• 18:07
  Speaker 4: Want to work on.
• 18:09
  Speaker 5: Some more balance with my money habits, like not having
• 18:13
  Speaker 5: those big blowouts sometimes and being able to treat myself
• 18:17
  Speaker 5: by being a bit more discretionary about it. But also
• 18:19
  Speaker 5: I think I need to be a bit kinder to
• 18:22
  Speaker 5: myself just in general and with my money mindset, and
• 18:25
  Speaker 5: just change my ideas about spending and money. And I'm
• 18:29
  Speaker 5: very much a person that believes that you can always
• 18:32
  Speaker 5: grow and improve, Like I'm very much into self help
• 18:35
  Speaker 5: books and manifesting and things like that, So I never
• 18:38
  Speaker 5: believe that you're at a point where you can't grow
• 18:40
  Speaker 5: more or learn more. But I think I'm happy with
• 18:43
  Speaker 5: where I am in terms of my money story. But
• 18:45
  Speaker 5: I would also like to save lots of more money
• 18:48
  Speaker 5: next year and see improvements in different areas. All right,
• 18:51
  Speaker 5: money Dose, I have a few questions for you, but
• 18:54
  Speaker 5: I'm going to wait until after this shortbreak.
• 19:02
  Speaker 2: So moneyitarist. You mentioned in the beginning that you have
• 19:06
  Speaker 2: grown up with a great relationship with your family. Obviously
• 19:11
  Speaker 2: that's had a really big impact on your financial insight
• 19:16
  Speaker 2: and how you feel about money and stuff like that. Like,
• 19:18
  Speaker 2: what's your relationship with your family? Like now, are you
• 19:21
  Speaker 2: still really close?
• 19:23
  Speaker 4: Yes?
• 19:23
  Speaker 5: We are, And I think the reason we're so close
• 19:26
  Speaker 5: is because all our family are overseas. So it's always
• 19:29
  Speaker 5: been the four of us now, the five of.
• 19:32
  Speaker 4: Us growing up.
• 19:33
  Speaker 5: Yeah, because when I was in high school, my cousin
• 19:38
  Speaker 5: actually came and lived with us because her parents weren't
• 19:41
  Speaker 5: able to care for her.
• 19:43
  Speaker 4: So she has lived with us.
• 19:44
  Speaker 5: She came and lived with us when she was ten
• 19:46
  Speaker 5: months old and now she, you know, ten years later,
• 19:49
  Speaker 5: so she's still living with us.
• 19:50
  Speaker 3: Ten months old, so she was like super baby still.
• 19:54
  Speaker 5: Yeah, she was just a little baby when she came
• 19:57
  Speaker 5: and lived with us, and she was borne oversea. Yeah,
• 20:02
  Speaker 5: but she because of some family problems. My cousin does
• 20:06
  Speaker 5: have severe or she is on the autism spectrum and
• 20:09
  Speaker 5: she has very high functioning autism and she also has ADHD,
• 20:14
  Speaker 5: So she attends a special school and we're not really
• 20:17
  Speaker 5: sure what's going to happen to her because she's still
• 20:20
  Speaker 5: in nabbies and she's not able to care for herself.
• 20:23
  Speaker 5: So that's something that we've had to consider, like are
• 20:26
  Speaker 5: we going to set up a trust for her or
• 20:29
  Speaker 5: how are we going to make sure that she's cared for,
• 20:32
  Speaker 5: But also that how can we protect her money from
• 20:35
  Speaker 5: other relatives or people who might try to access assets
• 20:39
  Speaker 5: and take advantage of her. So that's something that we've considered,
• 20:43
  Speaker 5: which is tricky. And my family have also had some
• 20:49
  Speaker 5: experience with mental illness that have brought us closer as well,
• 20:53
  Speaker 5: because my younger brother he struggled with anorexia, which is
• 21:00
  Speaker 5: a type of eating disorder, and he's recovered from that
• 21:03
  Speaker 5: now luckily, but it's still ongoing and we're.
• 21:06
  Speaker 4: Not really sure.
• 21:07
  Speaker 5: He had dropped out of high school because of bullying,
• 21:10
  Speaker 5: and we're not really sure if he's going to be
• 21:12
  Speaker 5: able to look after himself, and it seems like he
• 21:14
  Speaker 5: might have to live with me one day, So that's
• 21:17
  Speaker 5: kind of it could be a heavy burden to carry sometimes,
• 21:21
  Speaker 5: like knowing that I'm the only one in my family
• 21:23
  Speaker 5: who might be able to attend university or might be
• 21:26
  Speaker 5: able to work.
• 21:27
  Speaker 2: But also the mental load of caring for someone And
• 21:32
  Speaker 2: I know you use the word burden and it's kind
• 21:35
  Speaker 2: of like you're not allowed to say that, but caring
• 21:37
  Speaker 2: for family is really really intense. I've been through it,
• 21:41
  Speaker 2: and it's something that no amount of money in the
• 21:44
  Speaker 2: world can actually make that easier, because it's just the
• 21:47
  Speaker 2: mental commitment to caring for somebody else. And I guess, like,
• 21:52
  Speaker 2: as you acknowledge, you know, you grew up quite privileged,
• 21:55
  Speaker 2: but do you feel like that was quite confronting then
• 21:58
  Speaker 2: to kind of deal with like, oh, wow, like it's
• 22:01
  Speaker 2: not everything's easy, like and I'm not trying to call
• 22:04
  Speaker 2: you out at all, it's more just like that would
• 22:06
  Speaker 2: have just been so crazy to kind of think about
• 22:09
  Speaker 2: and comprehend at such a young age as well.
• 22:12
  Speaker 5: Yeah, definitely, And I think it really shaped my young
• 22:15
  Speaker 5: adult life and helped who I've grown into because I
• 22:19
  Speaker 5: realized that unless you have known disability personally, you don't
• 22:23
  Speaker 5: really understand what it's like. And you don't Yeah, and
• 22:28
  Speaker 5: I had no idea what it meant to be on
• 22:31
  Speaker 5: the autism inspectrum or to have a family member with
• 22:33
  Speaker 5: a disability before all of the experiences that my family
• 22:37
  Speaker 5: went through, and now that I do It's really opened
• 22:40
  Speaker 5: my eyes.
• 22:40
  Speaker 4: And you know, there.
• 22:42
  Speaker 5: Are supports out there, like on the end ayes and
• 22:44
  Speaker 5: things like that, but a lot of people slip through
• 22:46
  Speaker 5: the cracks because they don't have that support network, or
• 22:49
  Speaker 5: they don't have the financial ability to support themselves, or
• 22:52
  Speaker 5: they are taking advantage of by family members.
• 22:55
  Speaker 3: Wow, that is so true. And I don't mean to
• 22:58
  Speaker 3: like I guess stereotote, but as somebody who, as you
• 23:02
  Speaker 3: said before, really privileged upbringing, like quite a high income family,
• 23:07
  Speaker 3: I think from the outside looking and you'll be like, oh,
• 23:09
  Speaker 3: they're so lucky. They've got, you know, everything that they
• 23:11
  Speaker 3: could need. And it's like, well, every family has issues,
• 23:14
  Speaker 3: every family's got something going on, Like it's not always
• 23:17
  Speaker 3: as shiny as what the outside makes it seem. Is
• 23:21
  Speaker 3: that something that you found a lot of people just assume,
• 23:24
  Speaker 3: all right, well, you know money, Diarist has got it easy.
• 23:27
  Speaker 4: Yeah, definitely.
• 23:28
  Speaker 5: And I find sometimes even some friends make assumptions about
• 23:33
  Speaker 5: my family because they know that we're wealthy or that
• 23:37
  Speaker 5: we're well off, and it can be quite embarrassing sometimes
• 23:40
  Speaker 5: to tell people, or I felt quite ashamed of the
• 23:43
  Speaker 5: fact that we have a lot of money, because people
• 23:46
  Speaker 5: do make assumptions, even though I know that my parents
• 23:48
  Speaker 5: have worked really hard to get where they are and
• 23:52
  Speaker 5: they came from a place where they didn't have much money,
• 23:55
  Speaker 5: but it can there is still a lot of stigma
• 23:58
  Speaker 5: around people who do have a lot of money or
• 24:00
  Speaker 5: high income earners.
• 24:02
  Speaker 3: That sucks, and I'm so sorry that you've been through
• 24:05
  Speaker 3: that experience because it's also one of those factors that's
• 24:08
  Speaker 3: actually completely beyond your control. Like at the end of
• 24:11
  Speaker 3: the day, if I could pick whether I came from
• 24:13
  Speaker 3: a wealthy family or not, I'd prefer to have a
• 24:16
  Speaker 3: more wealthy family than not. But it's not a decision
• 24:19
  Speaker 3: that you made. It's the situation that was just dealt
• 24:22
  Speaker 3: to you and you've dealt with and you know, again,
• 24:25
  Speaker 3: as you said before, it's privileged, but it's not one
• 24:28
  Speaker 3: of those things that was a choice. It was because
• 24:30
  Speaker 3: your parents worked so hard and did those things. And
• 24:33
  Speaker 3: it kind of upsets me to think that in you know,
• 24:35
  Speaker 3: in twenty twenty one, and I'm sure this has happened
• 24:37
  Speaker 3: way before then too, people are still judging you based
• 24:41
  Speaker 3: on the situation that was beyond your control, Like, regardless
• 24:44
  Speaker 3: of whether that is wealth or on the opposite side
• 24:48
  Speaker 3: of the scale poverty, Like, how often do we stereotype
• 24:51
  Speaker 3: and categorize people who come from families who don't have
• 24:54
  Speaker 3: money as maybe not being as worthy or not being
• 24:57
  Speaker 3: as anything as anybody else, And it's not true, true,
• 25:00
  Speaker 3: Like we are all our own people, and we all
• 25:02
  Speaker 3: go through different things, and we all have to work hard.
• 25:05
  Speaker 3: Like our money diris, it's not easy to go to UNI.
• 25:09
  Speaker 3: Still have to do the same work that everybody else does.
• 25:11
  Speaker 2: And you're working full time at the same time as well,
• 25:14
  Speaker 2: you know, like you're working at bum off exactly.
• 25:17
  Speaker 3: So it's not something that our money dice is, like,
• 25:19
  Speaker 3: do you know what, I'm from a really wealthy family.
• 25:21
  Speaker 3: I'm going to go to UNI. I'm not going to work.
• 25:23
  Speaker 3: I'm just going to you know, just do things that
• 25:25
  Speaker 3: I love, which would be really warranted if that's what
• 25:28
  Speaker 3: you wanted to do. But you're really working hard, and
• 25:31
  Speaker 3: I think that's something that you know, obviously grand assumption here,
• 25:35
  Speaker 3: your parents have taught you a lot about work ethic
• 25:37
  Speaker 3: as well, which I really really love.
• 25:40
  Speaker 5: Yeah, absolutely, And I think there's a really important piece
• 25:43
  Speaker 5: to be said here about the fact that if you
• 25:45
  Speaker 5: want to be a high income earner, Yes, there is
• 25:48
  Speaker 5: systemic blockages and the way to prevent some people from
• 25:51
  Speaker 5: ever getting there. But if you do want to get there,
• 25:54
  Speaker 5: you have to be prepared to work hard and to
• 25:56
  Speaker 5: make sacrifices. And in my family, I've seen, you know,
• 26:00
  Speaker 5: my parents work incredibly hard, and sometimes my dad will
• 26:04
  Speaker 5: be at work all weekend and he sacrifices family time
• 26:07
  Speaker 5: so that he can do his job really well. And
• 26:10
  Speaker 5: that's a choice that he makes because his career is
• 26:14
  Speaker 5: something that he always really wanted to prioritize. And even
• 26:18
  Speaker 5: within my family, like we moved to a new city
• 26:20
  Speaker 5: every six or seven years because that's where the work was.
• 26:23
  Speaker 5: Because the higher up you get, the more competitive it
• 26:26
  Speaker 5: is and the less opportunities they are.
• 26:28
  Speaker 4: So I'm not saying.
• 26:29
  Speaker 5: That it's easy for everyone to become a high income earner,
• 26:32
  Speaker 5: but it's not easy to be on the top either,
• 26:35
  Speaker 5: and there is a lot of hard.
• 26:36
  Speaker 4: Work that you have to put in to get there.
• 26:39
  Speaker 2: Yeah, of course, I have one last question, what are
• 26:44
  Speaker 2: you most excited about? Because it sounds like you've got
• 26:48
  Speaker 2: lots of things on the go, Like you're at UNI,
• 26:50
  Speaker 2: you're working really hard, You've obviously got like your own
• 26:54
  Speaker 2: family commitments and things like that. But what are you
• 26:57
  Speaker 2: most excited about in your life that's to come.
• 27:01
  Speaker 5: For me, I'm really excited to finally graduate UNI and
• 27:05
  Speaker 5: settle into a new stage of my life because I've
• 27:08
  Speaker 5: been at UNI for five years now and I'm really
• 27:10
  Speaker 5: grateful for that opportunity. I've changed so much in that time.
• 27:14
  Speaker 5: I've learned so much about myself. But I'm really ready
• 27:17
  Speaker 5: to graduate now, like I'm ready to settle into my
• 27:19
  Speaker 5: career and live with my partner again and start saving
• 27:23
  Speaker 5: for a house. Like I'm ready to just put university
• 27:25
  Speaker 5: behind me.
• 27:27
  Speaker 2: How exciting. Well, I feel like that's a really good
• 27:29
  Speaker 2: place to leave it. But we really appreciate you sharing
• 27:32
  Speaker 2: your story with us, and it was such a pleasure
• 27:34
  Speaker 2: to chat to you today.
• 27:36
  Speaker 4: Thank you so much for having me on the show.
• 27:37
  Speaker 4: It was great to talk to you.
• 27:39
  Speaker 3: Thank you so much again for sharing your money diary
• 27:41
  Speaker 3: with us. Honestly, I feel like every single time Tony
• 27:44
  Speaker 3: we do a money diary, I learn so much. But
• 27:47
  Speaker 3: as always, just before we head off, we'd like to
• 27:50
  Speaker 3: acknowledge and pay respect to Australia's aboriginal and tourist rate
• 27:54
  Speaker 3: islander peoples. They're the traditional custodians of the lands, the
• 27:58
  Speaker 3: waterways and the skies, all Australia. We thank you for
• 28:02
  Speaker 3: sharing and for caring for the land on which we
• 28:04
  Speaker 3: are able to learn. We pay our respects to elders
• 28:07
  Speaker 3: past at present, and we share our friendship and our kindness.
• 28:11
  Speaker 2: The advice shared on She's on the Money is generally
• 28:14
  Speaker 2: nature and does not consider your individual circumstances. She's on
• 28:17
  Speaker 2: the Money exists purely for educational purposes and should not
• 28:21
  Speaker 2: be relied upon to make an investment or any financial decision.
• 28:24
  Speaker 2: And we promise as always that Victoria Divine is an
• 28:27
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• 28:32
  Speaker 2: three four one three two four six three two five
• 28:35
  Speaker 2: seven AFSL three three nine one five one See you
• 28:38
  Speaker 2: next week, guys.
• 28:40
  Speaker 4: Bye,