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MONEY DIARIES: A Breath of Fresh Air · 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. She's on the Money.
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Speaker 3: 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: for millennials who want financial freedom. Welcome back to another
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Speaker 2: one of our money diaries where we get to talk
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Speaker 2: to one of our beautiful She's on the Money community
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Speaker 2: members all about their journey. Let's jump straight into it.
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Speaker 2: This week, I got a message and it went a
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Speaker 2: little bit like this. Hi, Victoria. I grew up with
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Speaker 2: a single dad and worked long hours with crippling debt.
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Speaker 2: I got a thirty thousand dollar loan at twenty one,
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Speaker 2: and this year, at twenty eight, I just bought a home,
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Speaker 2: a new car, I'm planning a wedding and building my
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Speaker 2: wealth and finances up with my fiance while trying to
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Speaker 2: figure out what I want to do with my career. Also,
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Speaker 2: money diarist, you sound like a really fun diarist to
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Speaker 2: get on the show. Welcome, thank you.
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Speaker 3: Hearing that back is so weird?
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Speaker 2: Is that actually? I feel like, I'm ay? Does it
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Speaker 2: make you proud?
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Speaker 3: Yeah? I think so, because I don't think I've really
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Speaker 3: achieved much or I'm that great or anything. But then
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Speaker 3: hearing in one sentence like that, it's like, Okay, I
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Speaker 3: can step back and sort of be like, yeah, I
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Speaker 3: have a achieved quite a lot considering where I've come from,
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Speaker 3: So I'm yeah, I'm pretty proud of that.
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Speaker 2: I'm very proud of that. Let's kick off. I want
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Speaker 2: to know what grade would you give your money habits
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Speaker 2: if I asked you to give yourself a grade from
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Speaker 2: A through to F.
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Speaker 3: I've been tossing up on this. I think maybe like
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Speaker 3: A B minus, maybe B B minus.
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Speaker 2: A B A B minus. Can you give me a
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Speaker 2: little bit more insight? Why would you pick that?
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Speaker 3: I think I've been able to work out my finances
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Speaker 3: pretty well but I think I still have a lot
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Speaker 3: to learn. I haven't really jumped into the investing space,
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Speaker 3: and I'm not really ready to yet, but I think
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Speaker 3: I want to learn more about that and build more
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Speaker 3: wealth that way as well. So I think I've got
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Speaker 3: good things, but I think I could do better.
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Speaker 2: I feel like that was really well articulated. I want
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Speaker 2: to know before we get any further. My favorite question,
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Speaker 2: as always is can you tell us a little bit
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Speaker 2: more about your money story? I'm so keen to hear.
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Speaker 4: So.
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Speaker 3: I had a single parent. My parents split when I
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Speaker 3: was eight. Fortunately, my dad was given custody of me
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Speaker 3: and my brother, so he worked really really crazy hours
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Speaker 3: just to sort of, you know, earn the money. He
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Speaker 3: worked from four am till six pm most days and
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Speaker 3: di it out, dinner on the table ready, and I
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Speaker 3: would do all the things in a house that a
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Speaker 3: mother would usually do. But he worked really really long
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Speaker 3: hours just to sort of give us everything we needed
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Speaker 3: as kids. I have an older brother, so his focus
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Speaker 3: was just keeping us in school and keeping us happy.
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Speaker 3: But that came with a lot of debt. He got
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Speaker 3: made redundant twice in three years from jobs oh no,
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Speaker 3: and he got himself in thirty forty odd K worth
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Speaker 3: of debt just to make the ends meet. It wasn't
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Speaker 3: like he was out buying flashy things or anything like that.
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Speaker 3: It was more so just to keep us in school
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Speaker 3: and with the things we needed. It wasn't excessive spending
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Speaker 3: on unnecessary things. So I think growing up, it's not
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Speaker 3: like we didn't have things. He definitely looked after us,
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Speaker 3: and we definitely got Every weekend we'd do an activity
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Speaker 3: like we've got a time zone and we got ice skating,
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Speaker 3: or we go rock climbing. I did a lot of
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Speaker 3: rock climbing as a kid with my dad. So we
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Speaker 3: always did things, but there wasn't, you know, endless flows
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Speaker 3: of money. We had things, but it was known that
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Speaker 3: we had a single parent and money was needed for
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Speaker 3: our things rather than unnecessary things. So I kind of
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Speaker 3: grew up with the mind frame that work hard, hard working,
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Speaker 3: and it'll pay off and you'll get there. So I
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Speaker 3: think that instilled in me a lot of hard work.
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Speaker 3: And you know, I got my first job at fourteen,
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Speaker 3: and I was helping dad out with the rent from
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Speaker 3: sixteen onwards, and I think that taught me a lot
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Speaker 3: about money and sort of what I wanted for my
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Speaker 3: future money was and I guess for my family. I
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Speaker 3: did totally my kids to sort of grow up like that,
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Speaker 3: and I think I've worked really hard at that from
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Speaker 3: seeing what my dad went through to build a little
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Speaker 3: bit of a better foundation for myself.
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Speaker 2: What's it like being sixteen and contributing to the rent
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Speaker 2: when I'm assuming a lot of your peers were probably
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Speaker 2: not in a similar position.
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Speaker 3: Yeah, pretty much. All my friends at school, their parents
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Speaker 3: were together, and they'd had not an easy life, but
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Speaker 3: they hadn't been through the things that I'd been through,
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Speaker 3: and I'd been through a lot at this stage. It
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Speaker 3: was weird, But I also, I'm very close with my dad,
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Speaker 3: so I was happy to help out. It started off
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Speaker 3: as just, you know, fifty dollars a week and gradually
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Speaker 3: went up from there. But I think I was more
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Speaker 3: just happy to help because I knew everything he was sacrificing.
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Speaker 2: For us totally, and I feel like if I was
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Speaker 2: in a similar position, that's exactly what I would want
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Speaker 2: to do, right, Like, it sounds like your dad's a legend.
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Speaker 2: He is my best friend, and I can tell like
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Speaker 2: from the way that you talk about him, I'm like, oh,
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Speaker 2: this man, he must have done it so much. Is
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Speaker 2: that something you talked about at school, Like, is that
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Speaker 2: a conversation where you know you were working and people
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Speaker 2: knew that the money that you were earning as a
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Speaker 2: teenager was going towards that.
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Speaker 3: Not really. A lot of my friends in my friendship
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Speaker 3: group at school, we actually all worked at the local McDonald's,
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Speaker 3: but a lot of them were working to just sort
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Speaker 3: of buy themselves stuff or just to have money. Where I, yeah,
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Speaker 3: I guess I was working to help with bills, and
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Speaker 3: I was paying off my own phone, and I was
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Speaker 3: I saved my very first car, and every car of
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Speaker 3: Haard I've bought purely myself. I've never had a help,
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Speaker 3: so I think I don't think I really spoke about
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Speaker 3: it in that sense with my friends at the time. No,
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Speaker 3: it wasn't really a conversation that where's your money going
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Speaker 3: or what are you saving for or contributing to? So
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Speaker 3: not really something.
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Speaker 2: I think when you're a teenager you just assume it's
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Speaker 2: on going to the movies and you know, going to
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Speaker 2: Nacas after school. And it's funny you say that because
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Speaker 2: I grew up in a I don't want to say
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Speaker 2: more regional area. I grew up on the morning to Peninsula,
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Speaker 2: and so many of my friends worked at either one
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Speaker 2: of the two McDonald's down there. It was honestly such
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Speaker 2: a good job, I feel, because it's so structured and
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Speaker 2: provides so much leadership training. Did you love that I did.
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Speaker 3: I think it was a great place for me to start.
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Speaker 3: I spent five years there. I got a job. I
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Speaker 3: think I was fourteen and three months, and I worked
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Speaker 3: my way up. I started management, but I didn't finish it.
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Speaker 3: I wanted to sort of move on. But I think
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Speaker 3: it instilled a lot in me, and I think it's
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Speaker 3: a really great starting point for children that age, or
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Speaker 3: you know, teenagers that age. I think it teaches you
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Speaker 3: a lot. When I started there, I was the shyest
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Speaker 3: person you'd ever meet. Like my dad laughs about it now,
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Speaker 3: how shy I was. Like I wouldn't even go up
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Speaker 3: to a checkout person and ask a question. And people
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Speaker 3: that know me now would know me that I'm a foghorn.
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Speaker 3: I make friends everywhere.
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Speaker 2: You found yourself.
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Speaker 3: Honestly, I don't have issues making friends, and I'm not
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Speaker 3: a shy person at all. But I think I learned
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Speaker 3: a lot. I grew a lot and learned a lot
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Speaker 3: of leadership and business sort of skills from that job.
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Speaker 3: I think it's a great starting point for sure.
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Speaker 2: Yeah, that is so cool. I want to know what
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Speaker 2: you do now though, So what do you do for work?
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Speaker 2: How much money do you earn?
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Speaker 3: I work as an account's clerk sort of accounts and
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Speaker 3: admin clerk. My salary is fifty six plus super, but
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Speaker 3: I do also get monthly over time, and I did
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Speaker 3: start doing Uber eats last year at the end of
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Speaker 3: the year. Yeah, just to pay off my wedding.
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Speaker 2: What a little hustler. I love this.
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Speaker 3: Yeah, So all my Uber eats income go straight to
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Speaker 3: the wedding, and then my normal salary covers all the
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Speaker 3: mortgage and that sort of stuff. So I don't really
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Speaker 3: have an estimated amount with Uber, but my normal salary
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Speaker 3: is the fifty six plus and then overtime each month
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Speaker 3: as well.
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Speaker 2: I want to ask about overtime because when you said
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Speaker 2: I'm an account's clerk, that's not usually a role where
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Speaker 2: you would get over time. How's that happen?
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Speaker 3: Yeah, So I work in the automotive industry, so we
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Speaker 3: work on a monthly basis, and my role is monthly based,
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Speaker 3: so at the end of each month, we have to
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Speaker 3: get everything entered into the system. So generally the last
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Speaker 3: two days of the month we work sort of twelve
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Speaker 3: to thirteen hour days, Oh my god, to get everything in.
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Speaker 3: So end of month there's always really work heavy, and
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Speaker 3: the start of the month's quiet. But I'm always happy
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Speaker 3: to do it because every hour we work overtime end
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Speaker 3: of month is paid.
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Speaker 2: Ye one hundred percent. I'm there for the overtime.
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Speaker 3: Yeah. I use my overtime funds to go to a
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Speaker 3: wedding dress account. Yeah awesome, So I have all my overtime.
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Speaker 3: Sort of works for me. I always use my overtime
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Speaker 3: to pay for something I want that's on top of
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Speaker 3: my normal salary.
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Speaker 2: It's going towards the above and beyond.
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Speaker 3: Exactly, not coming out of my normal salary, not digging
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Speaker 3: into my normal bills. So yeah, every every end of month,
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Speaker 3: I get maybe four to five hundred dollars of overtime
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Speaker 3: that you know goes into those accounts. So that's a
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Speaker 3: nice little bonus on top of my normal salary.
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Speaker 2: That's actually so cool that you have that structure where
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Speaker 2: you like, I don't want it coming out of my
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Speaker 2: normal account if I do overtime. It's the above and beyond.
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Speaker 2: Tell me you mentioned a wedding dress account as somebody
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Speaker 2: who got married last year. I'm still so obsessed with weddings.
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Speaker 2: It is my entire TikTok feed. I am I what
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Speaker 2: your I've just got my wedding video back, guys, I
9:53
Speaker 2: am obsessed. The wedding content is going to be making
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Speaker 2: a comeback. But what I want to know is like,
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Speaker 2: how did this wedding dress account come up? How did
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Speaker 2: you set a budget? What are we working towards?
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Speaker 3: So originally that account, I always changed the name of
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Speaker 3: what that account is for what my goal is. I
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Speaker 3: have a tattoo sleeve and I use all my overtime
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Speaker 3: fun for.
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Speaker 2: That and that's expensive, Yeah, it's so expensive.
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Speaker 3: So I used that account. I changed the name of
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Speaker 3: it to whatever we're doing. We went to New Zealand
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Speaker 3: last year, so it was my New Zealand funds account.
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Speaker 3: Then once the holiday was over, we just gotten engaged
10:24
Speaker 3: before the holiday, so I changed it to wedding dress.
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Speaker 3: And I kind of look at my wedding dress as
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Speaker 3: one of my main expenses of a wedding, not my
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Speaker 3: partners in a sense, So I am saving for that separately,
10:35
Speaker 3: to allow, you know, my wedding dress fund and for
10:36
Speaker 3: my bridesmaids sort of fund. I've sort of set a
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Speaker 3: budget for my dress. I kind of don't want to
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Speaker 3: spend more than about two and a half on the dress.
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Speaker 2: That's still a significant amount of money. Like, there's so expensive.
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Speaker 2: Weddings are crazy, it's huge.
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Speaker 3: I've set a very strict budget for the wedding. I'm
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Speaker 3: well on track. I've run the numbers multiple times, and
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Speaker 3: I've gotten quotes for everything, and I have everything structured.
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Speaker 3: So yeah, I kind of came up with two and
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Speaker 3: a half because I think that's a reasonable amount. It
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Speaker 3: still quite a lot, and there's still a lot of
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Speaker 3: dresses that are so much more than that. But I
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Speaker 3: think for me it's a very reasonable amount because I've
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Speaker 3: said a very strict budget and I don't want to
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Speaker 3: be too excessive.
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Speaker 2: Yeah, that's absolutely fair. Can I be really pervy and
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Speaker 2: ask about the rest of the wedding, like what's the
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Speaker 2: overall budget? How did you work that out with your partner?
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Speaker 2: I feel like it's such a fickle conversation.
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Speaker 3: It really is. My partner. If I turned around tomorrow
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Speaker 3: and said, let's just have a party. He'd be so
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Speaker 3: happy with that. He definitely wants a wedding, but he
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Speaker 3: finds the cost of them just insane and we aren't
11:39
Speaker 3: made of money. So he's like, we can have a wedding,
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Speaker 3: but we're not going to be able to have all
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Speaker 3: the bells and whistles or you know. We need to
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Speaker 3: be smart about it. I don't think spending X amount
11:48
Speaker 3: of money when we could go overseas or this or
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Speaker 3: that is smart. So I sort of came up with
11:53
Speaker 3: a budget, and we looked at venues and stuff and
11:55
Speaker 3: sort of worked out what we'd be looking at, and
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Speaker 3: we came to a number of twenty five ks. So
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Speaker 3: I'm actually well on target for that at the moment.
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Speaker 3: I think I'm sitting a little bit under it actually
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Speaker 3: at the moment, and we've set a date and we've
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Speaker 3: booked the venue, So yeah, I kind of I can
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Speaker 3: accept that amount as sort of reasonable, but I think
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Speaker 3: when it gets a little bit over that just for
12:19
Speaker 3: our personal goals, that's when it's a bit too much.
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Speaker 3: So I sort of worked out what our goals are
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Speaker 3: and what's reasonable.
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Speaker 2: Yeah, no, one hundred percent. I love to hear how
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Speaker 2: clear you guys are on it, and you know your
12:31
Speaker 2: partner's values versus your values. Like for me, that was
12:34
Speaker 2: really important when it came to planning the wedding as well.
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Speaker 2: My partner just wanted a massive party, and I'm quite
12:40
Speaker 2: in real life, guys, I'm actually really introverted. I like
12:43
Speaker 2: my small group of friends. I don't like really big
12:45
Speaker 2: crowds of people. I find the really overwhelming. So that
12:48
Speaker 2: was a fun compromise to make.
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Speaker 3: My partner's exactly the same. His social battery wears out
12:54
Speaker 3: it me where I'm the opposite. So we sort of
12:58
Speaker 3: came to that compromise. We are having a very smar
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Speaker 3: It's only about forty people, just close friends and family,
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Speaker 3: and I think that's plenty for us and where we're at.
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Speaker 3: And he's, yeah, very he likes a social thing, but
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Speaker 3: he gets his social battery gets full very quickly, so.
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Speaker 2: I'm the same. I think I slept for the entire
13:15
Speaker 2: week after our wedding because I was just exhausted from
13:18
Speaker 2: everything that had happened, elated, so excited. Best of my life.
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Speaker 2: I need an app is basically where I was at
13:25
Speaker 2: before we move on to more of the structured questions.
13:27
Speaker 2: I have another spicy wedding question based on content that
13:31
Speaker 2: I have been producing recently on TikTok, I know exactly
13:34
Speaker 2: what question you know me, Are you paying for your bridesmaids?
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Speaker 2: If so, why, if not? Why not?
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Speaker 3: Well, to be honest, your recent post threw a spanner
13:43
Speaker 3: and not a spanner in the works made me question things. No, no,
13:47
Speaker 3: don't be sorry. I've obviously never had a wedding and
13:50
Speaker 3: I've never been in a bridal party, so you know,
13:53
Speaker 3: it's kind of working out what works for us. I
13:55
Speaker 3: was always planning hair and makeup fully paid by me.
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Speaker 3: I was never going to ask at the dresses I'm
14:01
Speaker 3: looking out of are not too expensive one hundred dollars
14:04
Speaker 3: or less. And I was originally thinking of getting my
14:07
Speaker 3: bridesmaids to purchase their own dress, but I think I
14:12
Speaker 3: might end up paying for them shoes and things like that.
14:14
Speaker 3: If they have shoes that fit the color scheme, then
14:17
Speaker 3: happy for them to wear it they have, But I'd
14:20
Speaker 3: love to be able to afford to pay for everything,
14:22
Speaker 3: and I think if the way I'm working things now,
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Speaker 3: I think I will be able to. So I definitely
14:28
Speaker 3: at least half, if not all, is what I'm working for.
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Speaker 2: I love this conversation because I think as somebody who
14:35
Speaker 2: has been a bride, I just really hadn't thought about
14:38
Speaker 2: it before. And I had been a bridesmaid, and to
14:42
Speaker 2: you know, check my own privilege, I've always been in
14:44
Speaker 2: a position where if I've been asked to be a bridesmaid,
14:47
Speaker 2: I was at an age where I had the free
14:49
Speaker 2: cash flow, so I didn't mind. I was just so
14:52
Speaker 2: excited to be a bridesmaid. I didn't mind that I
14:55
Speaker 2: had to pay for the dress. I didn't mind to
14:56
Speaker 2: be a part of it. But then once it came
14:58
Speaker 2: to me having my own wedding, I was just overwhelmed
15:00
Speaker 2: with this idea that my tastes would then dictate how
15:05
Speaker 2: my bridesmaids would have to budget. And I hated the
15:08
Speaker 2: idea that I would put them out with decisions that
15:11
Speaker 2: I was making. I don't think it's a secret that
15:13
Speaker 2: sometimes I do have quite expensive taste. And I just
15:16
Speaker 2: fell in love with a specific pair of shoes that
15:20
Speaker 2: I really wanted my bridesmaids to have, and I was
15:22
Speaker 2: just like, there's no way I could ever ask them
15:25
Speaker 2: to pay for that. All of them were obsessed, and
15:28
Speaker 2: I was like, let's just make this one of their
15:29
Speaker 2: wedding presents like a present from me, like they can
15:32
Speaker 2: wear them a million times after. I know they will
15:34
Speaker 2: because they were all obsessed. But it's one of those
15:36
Speaker 2: things where I had not comprehended the financial impacts of that,
15:40
Speaker 2: even though they've surrounded me for a really long time.
15:42
Speaker 2: It just went wow, like I would hate to put
15:45
Speaker 2: my friends and family out. And I think it's a
15:47
Speaker 2: different story money direst when you're like, oh, it's about
15:49
Speaker 2: one hundred dollars and that's you know where it is.
15:51
Speaker 2: I was always going to cover everything else. I feel
15:53
Speaker 2: like that might be different than Okay, well, I expect
15:55
Speaker 2: them to pay for my hand's party, and then a
15:57
Speaker 2: pair of shoes, a specific pair of shoes, a specific dress.
16:00
Speaker 2: I want them to pay for my hair or their
16:01
Speaker 2: own hair and makeup, and it all just ends up
16:03
Speaker 2: adding up, and it's just at what cost and it's
16:07
Speaker 2: not yours anymore. It becomes maybe they can't go on
16:10
Speaker 2: their friend trip to Bali anymore because they've spent you know,
16:13
Speaker 2: seven or eight hundred dollars going to your wedding, or
16:15
Speaker 2: maybe they can't do something for their mum, or they
16:17
Speaker 2: can't do something for their own budget, and that just
16:20
Speaker 2: blows my mind. And I think a lot of us
16:22
Speaker 2: and do you sound like you're in the same ship
16:24
Speaker 2: as me. We just hadn't thought about it before.
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Speaker 3: Until your posts. Honestly, I hadn't thought about it. And
16:30
Speaker 3: then I put myself in those shoes that I'm like,
16:32
Speaker 3: do I if I was asked to be a bridesmaid today,
16:35
Speaker 3: have the funds to go and spend that amount with
16:38
Speaker 3: my money goals at the moment? Would that be a
16:40
Speaker 3: priority for me? And I you know, that's where I
16:43
Speaker 3: put myself in that shoes, and I was like, Okay,
16:45
Speaker 3: I don't want my wedding to be someone else's financial burden.
16:48
Speaker 2: Yeah, that's so fair.
16:49
Speaker 3: And I'd never thought of it that way before, so
16:52
Speaker 3: I think that definitely reworked. When you posted that reel.
16:56
Speaker 3: I messaged a few of my friends. One of my
16:57
Speaker 3: bridesmaids was actually in a wedding not long ago, and
17:00
Speaker 3: I just asked her the question, you know, what was
17:02
Speaker 3: the situation, you know, and then I both my sister
17:05
Speaker 3: in laws. Two of my sister in laws are also
17:06
Speaker 3: getting married in the next year, and I asked them, like,
17:09
Speaker 3: what they're planning on doing? So it's been a very
17:11
Speaker 3: strong conversation between us sister in laws as well on
17:15
Speaker 3: what we're going to do and what suits us. So
17:18
Speaker 3: I think that definitely sparked a lot of more thoughts
17:21
Speaker 3: and questions that I hadn't thought of before, and I
17:24
Speaker 3: think it did that for a lot of people.
17:25
Speaker 2: So I love But also stop dming me telling me
17:28
Speaker 2: that I'm the devil, thank you.
17:30
Speaker 3: Yeah, exactly, You're not the devil, not at all. You're
17:33
Speaker 3: just thinking of our financial freedom.
17:36
Speaker 2: All right. I want to know you've obviously got the
17:38
Speaker 2: wedding coming up, but what is your big money goal currently?
17:42
Speaker 3: So obviously the wedding, and then we really want to
17:45
Speaker 3: build an emergency fund's account. We've got one in our
17:48
Speaker 3: bank named emergency Funds, but it's yet to have money
17:52
Speaker 3: put in it, so I think that's the big goal
17:54
Speaker 3: for us. Building up a bit of an emergency funds
17:57
Speaker 3: and a buffer in our mortgage repay account is also
18:00
Speaker 3: our goal because we do want to start a family
18:02
Speaker 3: after we get married, so we want to build a
18:05
Speaker 3: little bit of a buffer in there just to help
18:07
Speaker 3: with the mortgage repayments and things like that once I
18:10
Speaker 3: go on maternity leave.
18:11
Speaker 2: Yeah, how exciting. I like, how clear you've been on
18:14
Speaker 2: all of these goals and what you're planning to achieve,
18:16
Speaker 2: Like it blows my mind that, Oh it's so exciting.
18:20
Speaker 3: It may also help to know my Aunie is a
18:22
Speaker 3: mortgage broke up queen. She looks over my finances twenty
18:25
Speaker 3: four seven, and since I was fourteen, asked those questions,
18:28
Speaker 3: So I think she's really helped guide me finance wise,
18:32
Speaker 3: making big decisions or the way I should structure things.
18:37
Speaker 3: So that kind of helps as well.
18:38
Speaker 2: I love that. All right, I have so many more
18:40
Speaker 2: questions for you, and we're going to go to a
18:42
Speaker 2: really quick break and then we'll get back to all
18:44
Speaker 2: of those in a hot minute. Don't go anywhere, all right,
18:51
Speaker 2: money diarist, We are back, and I have a question.
18:53
Speaker 2: I want to talk more about your aunt because one
18:55
Speaker 2: question I wrote down earlier when you were telling me
18:58
Speaker 2: all about these accounts that you have, and you've got
19:00
Speaker 2: your wedding dress fund and that fund name changes depending
19:02
Speaker 2: on what your money goal is, I was like, how
19:04
Speaker 2: on earth did you manage to learn how to manage
19:07
Speaker 2: money in this way? Because it sounds like you have
19:10
Speaker 2: really clear goals and really clear ideas of cash flow
19:14
Speaker 2: and budgeting. Where did this come from? How did you
19:17
Speaker 2: learn about money?
19:18
Speaker 3: It definitely came from a combination of my dad and
19:22
Speaker 3: my auntie seeing my dad struggle and then my auntie
19:27
Speaker 3: be in the finance industry my whole life. We had
19:30
Speaker 3: a lot of strong conversations about that. And from the
19:33
Speaker 3: day I got my first job, I used to write out,
19:35
Speaker 3: just on a notepad, how much I got paid each
19:36
Speaker 3: week and what my bills were or what my expenses
19:38
Speaker 3: were that week. So since the day I got my
19:40
Speaker 3: very first paychecked, I've had a written budget and to
19:43
Speaker 3: this day, I still have a written budget. I like
19:46
Speaker 3: pen to paper, I like seeing things written, So I
19:50
Speaker 3: still to this day have a written out budget that
19:54
Speaker 3: I work from. And I think my Annie definitely helped
19:57
Speaker 3: with navigating how I work my finances and how I
20:02
Speaker 3: navigate those things because from day one, I paid for
20:05
Speaker 3: my very first car at seventeen, and that was something
20:07
Speaker 3: I had to budget for as a sixteen year old working.
20:09
Speaker 3: So I've always had money goals or something I was
20:12
Speaker 3: saving for, and I knew the only way to save
20:16
Speaker 3: or get there was to budget for it.
20:18
Speaker 2: Yeah. Amazing, And is this something that your aunt just
20:21
Speaker 2: sat you down when you were young and said this
20:23
Speaker 2: is stuff you need to know, or were you tenacious
20:26
Speaker 2: and asking these questions or how did these conversations come up,
20:29
Speaker 2: especially with an aunt, because I feel like that isn't
20:31
Speaker 2: going to happen for everybody.
20:33
Speaker 3: No, I think my Annie really stepped into a little
20:37
Speaker 3: bit of a mother role when my parents split. My
20:39
Speaker 3: Annie doesn't have children of her own, so I think,
20:42
Speaker 3: and when my parents split, actually we lived with my
20:44
Speaker 3: Annie for a bit of time. It was not a
20:47
Speaker 3: great split, so we weren't allowed to be at the
20:50
Speaker 3: house at the time, so we did live with my
20:52
Speaker 3: Annie for a little period of time there. So I
20:54
Speaker 3: think she really stepped into you need a figure in
20:58
Speaker 3: your life that's a mother and that on. And we
21:01
Speaker 3: had a lot of conversations about that, and I could
21:02
Speaker 3: always ask her anything, and you know, as a teenager,
21:05
Speaker 3: sometimes that got uncomfortable or there was things I didn't
21:07
Speaker 3: want to tell her because you know, teenagers.
21:09
Speaker 2: Of course, but they've got to have some level of
21:11
Speaker 2: privacy as a sixteen year old.
21:13
Speaker 3: Definitely, But I think, yeah, we spoke a lot, and
21:16
Speaker 3: we had a little tradition back then where we used
21:18
Speaker 3: to when I was still in school. It was a
21:20
Speaker 3: breakfast every week. She used to take me and my
21:22
Speaker 3: brother just down in Macis for breakfast, and when we
21:24
Speaker 3: finished school it was Sunday, didn'ts I'd have dinner with
21:27
Speaker 3: her every Sunday, just me and her and and we'd
21:29
Speaker 3: talk about a lot of those things, or what my
21:31
Speaker 3: goals were and what I was working towards. So I
21:33
Speaker 3: think it was a bit of both me asking questions
21:36
Speaker 3: and her giving advice. I mean, when I got my
21:40
Speaker 3: first thirty thousand dollar alone, I didn't tell her, and she.
21:43
Speaker 2: Was not in tru as a mortgage broker, she would
21:46
Speaker 2: have been a little bit salty on you, my friend.
21:48
Speaker 3: I got in a lot of trouble for that. But yeah,
21:52
Speaker 3: I think I go to her with anything when it
21:55
Speaker 3: comes to money or big decisions to make. And also
21:59
Speaker 3: when into buying the house, it was a given that
22:02
Speaker 3: she was very, very involved in that and helped us
22:04
Speaker 3: immensely and I couldn't thank her enough for that. So
22:06
Speaker 3: I think that definitely helped in navigating where I wanted
22:11
Speaker 3: to go with my finances from a very young age.
22:13
Speaker 2: It sounds like you are surrounded by some very beautiful people.
22:16
Speaker 3: I really am. I'm very blessed.
22:18
Speaker 2: I love it all right. I want to know. Next
22:20
Speaker 2: question is do you have any investments? If so, what
22:24
Speaker 2: are they? If not, what do you want to do?
22:26
Speaker 3: Okay, so super yes, of course I have about forty
22:30
Speaker 3: two and a half thousand.
22:32
Speaker 2: Hey, that's pretty good for your age.
22:34
Speaker 3: Yeah. I did take ten thousand out during COVID, knowing
22:40
Speaker 3: what I know now, I wish I didn't, but we.
22:42
Speaker 2: All learn, and to be honest, I feel like sometimes
22:44
Speaker 2: we really needed to.
22:46
Speaker 3: Yeah. I had a little bit of debt at the time,
22:48
Speaker 3: and I knew it would help get rid of that.
22:50
Speaker 3: So I had about six grand left on my debt
22:52
Speaker 3: and I paid that often. Then I put the remaining
22:54
Speaker 3: towards our account that we knew. We were already starting
22:57
Speaker 3: to save for a house, so it kind of helped
23:01
Speaker 3: with that. I didn't use it to go and you know,
23:02
Speaker 3: spend on silly things.
23:04
Speaker 2: Hey, lots of people bought flat screen TVs, so you
23:07
Speaker 2: are totally working towards the right financial goals here.
23:10
Speaker 3: My love did not do that. So my yeah, forty
23:13
Speaker 3: two and a half in that, and my auntie looks
23:15
Speaker 3: over my stupid to make sure it's invested to get
23:18
Speaker 3: the best return. Chesi's I at this point have only
23:22
Speaker 3: put five dollars in. I want to work on being
23:24
Speaker 3: more consistent at putting a little bit in each week
23:28
Speaker 3: or each fortnite.
23:29
Speaker 2: But that's leaps and bounds in front of everybody else,
23:32
Speaker 2: because I feel like so many times people just don't
23:34
Speaker 2: even take the step of picking a platform or even
23:37
Speaker 2: putting their first few dollars on that platform, and it
23:40
Speaker 2: feels like a small step. You might go, oh, that's
23:42
Speaker 2: not much, but that's massive. That's the step that everybody
23:45
Speaker 2: struggles with.
23:46
Speaker 3: I think I actually had a little bit of a
23:47
Speaker 3: money in there too. When I signed up. I forgot
23:49
Speaker 3: to use the shehes on the money code no, and
23:51
Speaker 3: then I heard it on one of the podcasts like
23:53
Speaker 3: the next day, and so I emailed them and they
23:56
Speaker 3: manually added the credits their angels. So that was a
24:01
Speaker 3: little bit of a money win.
24:02
Speaker 2: Oh how good.
24:04
Speaker 3: Yeah, so that's purely just from listening to the podcast
24:07
Speaker 3: on Cheesi's.
24:08
Speaker 1: Yeah.
24:08
Speaker 2: See, free money. That's a good return on your investment.
24:11
Speaker 2: Free money.
24:12
Speaker 3: I'm here for free money always.
24:13
Speaker 2: I love it. So what are you planning to do
24:15
Speaker 2: with your Chasia's account.
24:17
Speaker 3: I don't know enough yet. I want to buy the second.
24:20
Speaker 3: She's on the money book obviously to learn some more,
24:22
Speaker 3: and it is a conversation my partner and I have
24:24
Speaker 3: been having. He wants to sort of get into the
24:26
Speaker 3: investment space a little bit more as well. So I
24:29
Speaker 3: think just dipping my toes in and just showing me
24:31
Speaker 3: a little bit more and learning a little bit more
24:33
Speaker 3: about it is where I'm at at this stage.
24:35
Speaker 2: You love all right? I want to know we've already
24:38
Speaker 2: spoken about how you had a debt, and then you
24:40
Speaker 2: mentioned earlier that you paid it off with money from
24:43
Speaker 2: your super But I want to know do you have
24:44
Speaker 2: any debts? If so, what are they.
24:46
Speaker 3: So we have the mortgage, obviously, which is about four
24:50
Speaker 3: hundred and thirty thousand. We only bought the place six
24:53
Speaker 3: months ago, so we've only just been here six months,
24:55
Speaker 3: and interest rate rises have not been fun.
24:58
Speaker 2: But your aunts some mortgage brokeers. So I'm sure or
25:00
Speaker 2: that she is all over that for you.
25:02
Speaker 3: She definitely is. We were very lucky we had a
25:04
Speaker 3: guaranteur as well. When we bought our place. My partner's
25:07
Speaker 3: parents offered to go guarantee to help us out, which
25:10
Speaker 3: was really amazing.
25:11
Speaker 2: How good is that?
25:12
Speaker 3: Yeah, we're very very lucky for them, and we probably
25:15
Speaker 3: wouldn't be in the position we're in without them because
25:17
Speaker 3: we wouldn't have had enough for a deposit. So we
25:21
Speaker 3: were very lucky there and that allowed us to have
25:23
Speaker 3: a little bit of a smaller deposit so we could
25:26
Speaker 3: spend money on furniture and setting ourselves up. So that's
25:29
Speaker 3: sitting at about four hundred and thirty thousand. In October,
25:32
Speaker 3: we also bought a brand new car, which we financed
25:36
Speaker 3: at about sixty grand, owing.
25:39
Speaker 2: I want to know what car that is? Sixty grand?
25:41
Speaker 2: What are you spending that on?
25:42
Speaker 3: It's an Azuzu Dmac, top of the line. It's beautiful.
25:45
Speaker 3: We absolutely love it.
25:47
Speaker 2: A big dog car, big dog car.
25:49
Speaker 3: However, we did just put it up for sale last night.
25:51
Speaker 2: Why did you choose to do that?
25:53
Speaker 3: Wasn't planned. My partner changed jobs recently where we took
25:56
Speaker 3: a little bit, well quite a significant pay cut for
26:00
Speaker 3: a long term gain. It's going to be once he
26:02
Speaker 3: gets off probation, he's going to be earning commissions.
26:04
Speaker 2: Oh how exciting, which will.
26:06
Speaker 3: Significantly put us in a better place. But for the
26:08
Speaker 3: time being, we're taking a little bit of a hit,
26:12
Speaker 3: and we sort of sat down and worked out what
26:14
Speaker 3: expenses can we minimize and what are our goals and
26:18
Speaker 3: having that car at the moment just doesn't really align
26:22
Speaker 3: with our goals. We should have, you know, thought about
26:24
Speaker 3: that six months ago when we were just about to
26:26
Speaker 3: get it, but we didn't really think that far ahead.
26:29
Speaker 3: We just got caught up in the moment of you know,
26:31
Speaker 3: we're getting our first ever brand new car off the
26:33
Speaker 3: showroom floor that we didn't forecast what would happen. So
26:38
Speaker 3: we made that decision this week that it's the best
26:40
Speaker 3: thing for us to minimize that. So we actually listed
26:43
Speaker 3: it last night, and with the market at the moment,
26:46
Speaker 3: we can actually make a little bit of money or
26:48
Speaker 3: break even with it because it holds its value quite well.
26:51
Speaker 3: So we've got someone coming to look.
26:53
Speaker 2: Already already it were up last night.
26:56
Speaker 3: Yeah, we put it up last night and they're coming
26:58
Speaker 3: this week and they're pretty keen. So if we sell that,
27:01
Speaker 3: we'll get rid of that debt straight away.
27:03
Speaker 2: Yeah. Do you know what. I find that to be
27:05
Speaker 2: a really mature decision to be making as well, because
27:08
Speaker 2: I think a lot of people, especially because the car
27:10
Speaker 2: is only six months old, would be so emotionally invested
27:14
Speaker 2: in that vehicle, that they'd be like, no, I can't
27:15
Speaker 2: get rid of it. It's too new, it's to this,
27:17
Speaker 2: it's too that. I feel like, that's such a good
27:19
Speaker 2: financial decision where you're taking the holistic picture into consideration,
27:24
Speaker 2: and I feel like too often we get too caught
27:26
Speaker 2: up in our egos, like, oh, well, what might people
27:29
Speaker 2: think if they see us buying a car and then
27:30
Speaker 2: selling it within six months? Like, I just think it's
27:33
Speaker 2: so smart and so mature, and I really respect that.
27:36
Speaker 3: I think when I first started mentioning it to a
27:39
Speaker 3: few of my friends this week that knew how excited
27:41
Speaker 3: we were when we got the car. To be honest,
27:43
Speaker 3: I was a little bit embarrassed. I had a moment
27:45
Speaker 3: that I was like, oh my god. But then when
27:47
Speaker 3: I step back and look at the bigger picture, I'm
27:49
Speaker 3: not embarrassed because we're putting us first. We're making the
27:54
Speaker 3: best financial decision for us and our goals, and having
27:58
Speaker 3: that car isn't doing anything to contribute to our goals
28:01
Speaker 3: right now. So what is the point of spending the
28:04
Speaker 3: amount we're spending each week to run this car when
28:08
Speaker 3: our goals are a wedding and to build emergency funds?
28:12
Speaker 3: And to start a family in the next two years.
28:14
Speaker 3: So it just doesn't really align with where we're at
28:17
Speaker 3: right now. And that was where we made that decision.
28:19
Speaker 3: And I was embarrassed for a moment, and then I
28:21
Speaker 3: stood back and thought, I don't really care what people think.
28:23
Speaker 4: This is for us, you know when I love these Yeah,
28:27
Speaker 4: I feel like I brought that up because I was like,
28:29
Speaker 4: I feel like so many people would be in that
28:31
Speaker 4: position where their ego might be a little bit more
28:33
Speaker 4: than what, yeah, what they can handle, and I just
28:36
Speaker 4: feel like hearing that might give people permission.
28:39
Speaker 2: To go, you know what, it doesn't actually matter what
28:40
Speaker 2: other people think. How good is it that we're putting
28:42
Speaker 2: us first or we're doing the right thing for what
28:45
Speaker 2: we need to do. I just think that's yeah. Just
28:47
Speaker 2: I love it. I love it. It makes me so happy.
28:50
Speaker 2: It sounds like you have some really good money habits,
28:52
Speaker 2: So I want to note, what do you think your
28:54
Speaker 2: best money habit is.
28:55
Speaker 3: I'm very rugal in a way, like I buy, we
28:59
Speaker 3: buy what we want when we want. We're not you know,
29:02
Speaker 3: you can't have it, but I shop a lot when
29:05
Speaker 3: things are on sale or I shop around. I also
29:08
Speaker 3: have car insurance with Woolworth so it gets me at
29:10
Speaker 3: ten percent off one shop a month, as well as
29:13
Speaker 3: the Everyday Extra program which I heard about on your
29:16
Speaker 3: podcast actually.
29:17
Speaker 2: Which we got from the community. I can't take any
29:19
Speaker 2: credit for this. I feel like you guys have all
29:21
Speaker 2: the good ideas, even the idea that you get ten
29:24
Speaker 2: percent off once a month by having Woolworth's insurance. Like
29:27
Speaker 2: that's pretty cool.
29:29
Speaker 3: Yeah, So I sort of. I look around. I get
29:32
Speaker 3: you know, discounts on the shopping things like that always.
29:35
Speaker 3: You know, if I need pet food, I'll look around
29:38
Speaker 3: at where it might be on sale. I try not
29:40
Speaker 3: to pay, you know, the highest price for things. I
29:43
Speaker 3: budget that way. I also do some online surveys every
29:47
Speaker 3: now and then to get money to go towards like
29:49
Speaker 3: fuel or groceries. I think that's my best money habit.
29:52
Speaker 3: I'm frugal. I you know, when we get bills, I
29:54
Speaker 3: will look over them and if something doesn't look right,
29:56
Speaker 3: or question it. I like to always know where my
29:59
Speaker 3: money is going at my money is working for me
30:02
Speaker 3: in the best WAYE possible.
30:03
Speaker 1: Love.
30:04
Speaker 2: I don't even know if the right word there is frugal.
30:06
Speaker 2: It sounds like you're just super resourceful. You're like, I'm
30:08
Speaker 2: going to find the right deal. I'm going to get
30:10
Speaker 2: the best bang for my buck. I'm going to put
30:13
Speaker 2: myself in the best position. Like that's not being frugal,
30:15
Speaker 2: not at all. I feel like that's just being super
30:17
Speaker 2: resourceful and smart with your money, and we all should
30:20
Speaker 2: be doing that.
30:21
Speaker 3: I mean, we work hard for our money. Why are
30:22
Speaker 3: we throwing it away? With that question?
30:25
Speaker 2: One hundred percent all right to slip that on its head.
30:29
Speaker 2: I feel like you are super resourceful. I wouldn't know
30:31
Speaker 2: what's your worst money habit.
30:33
Speaker 3: When it comes to other people. I will just spend
30:36
Speaker 3: I'm you know, birthdays, Christmas presents, just because I don't
30:40
Speaker 3: ever really second guess or second question myself on spending
30:44
Speaker 3: money on others and transferring out of my personal savings.
30:48
Speaker 3: I need to get a little bit better at when
30:51
Speaker 3: I put money in there. It's you know, my little buffer.
30:53
Speaker 3: But that doesn't just mean I can you know, I
30:55
Speaker 3: want a coffee and there's you know, not much money
30:58
Speaker 3: left in my account, I'll just transfer out. I think
31:00
Speaker 3: that's probably my worst habit, is putting money in my
31:02
Speaker 3: personal savings and then just being like, oh, I'll just
31:05
Speaker 3: transfer it back out.
31:06
Speaker 1: Yeah.
31:06
Speaker 2: I feel like a lot of us are guilty of that,
31:08
Speaker 2: and it seems to be a consistent She's on the
31:10
Speaker 2: money community member trait to always spend a lot of
31:13
Speaker 2: money on other people. I feel like we are all
31:16
Speaker 2: very similar piece in a very similar pod. In that case, Yep,
31:20
Speaker 2: I'm a giver.
31:21
Speaker 3: I'll spend money on other people without question, but I
31:23
Speaker 3: will always question it if I'm going to buy something
31:25
Speaker 3: for myself.
31:26
Speaker 2: I kind of love it. We all care about everybody else,
31:28
Speaker 2: which is really sweet, but we need to care more
31:30
Speaker 2: about ourselves and our own financial futures sometimes too. We do,
31:34
Speaker 2: we do all right? I want to wrap back around
31:36
Speaker 2: to the very start of this episode. You told me
31:38
Speaker 2: that you think that maybe you've got a money grade
31:40
Speaker 2: of like a BEE or a B minus. But you've
31:43
Speaker 2: just told me all of this awesome stuff, Like you're
31:45
Speaker 2: an account's clerk, you are working over time, you are
31:47
Speaker 2: doing Uber eats, you are doing online surveys to bring
31:50
Speaker 2: in more income. You have forty two grand in superannuation,
31:53
Speaker 2: You've got a mortgage, you are always on top of it.
31:56
Speaker 2: You've just started investing like you are selling a car
31:59
Speaker 2: because you're literally like, I don't even care about my ego.
32:02
Speaker 2: I am going to put that aside and put out
32:04
Speaker 2: financial futures first. My friend, do you really think that
32:07
Speaker 2: you're a beer a B minus after having this conversation?
32:10
Speaker 3: I mean maybe not.
32:13
Speaker 5: What do you think is maybe a little bit more accurate,
32:17
Speaker 5: maybe like an A minus.
32:19
Speaker 2: Yeah that feels a little bit more comfortable for me too.
32:23
Speaker 5: Yeah.
32:23
Speaker 2: I just feel like you are killing it, like knowing
32:26
Speaker 2: how you learn to manage money, and that your dad
32:28
Speaker 2: and your aunt are so supportive, and that you know
32:31
Speaker 2: even though you grew up in a relatively low income
32:34
Speaker 2: family and you learn about debt really early. I feel
32:37
Speaker 2: like you've just got these great money habits and you're
32:39
Speaker 2: you know, growing that and putting yourself in a position
32:42
Speaker 2: where you've got this home and you're planning your dream
32:44
Speaker 2: wedding and you're planning on starting a family. Like that's
32:47
Speaker 2: all so exciting and usually very very financially taxing, but
32:52
Speaker 2: you seem to be taking it all in your stride.
32:54
Speaker 2: Like I feel like so many people are going to
32:56
Speaker 2: listen to this and be like, oh, she's exactly who
32:58
Speaker 2: we want to be, Like what a queen?
33:00
Speaker 3: Thank you?
33:01
Speaker 2: I love it. Well, Unfortunately, that is all we have
33:04
Speaker 2: time for today. Thank you so much for joining us
33:07
Speaker 2: and sharing your money story with us. Money Drest, I
33:09
Speaker 2: have adored this and adored this chat. I feel like
33:11
Speaker 2: we're best friends now.
33:12
Speaker 3: I'm not mad about it at all. Thank you so much.
33:15
Speaker 2: It's been amazing of course.
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Speaker 5: Oh, the advice shared on She's on the Money is
33:25
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33:29
Speaker 5: She's on the Money exists purely for educational purposes and
33:33
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33:35
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33:37
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33:39
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33:43
Speaker 2: Tailored towards your needs.
33:44
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