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MONEY DIARIES: She's Crushed Her Consumer Debt · 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 Kernye Whoalbury and a waddery woman. And before
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Speaker 1: we get started on She's on the Money podcast, I
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Speaker 1: would like to acknowledge the traditional custodians of the land
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Speaker 1: of which this podcast is recorded on a wondery country,
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Speaker 1: acknowledging the elders, the ancestors and the next generation coming
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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
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Speaker 1: and the storytelling of you to make a difference for
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Speaker 1: today and lasting impact for tomorrow.
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Speaker 2: Let's get into it.
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Speaker 3: She's on the Money, She's on the Money.
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Speaker 2: Hello, and you're welcome to She's on Money the Podcast
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Speaker 2: Millennials who want financial freedom. Welcome back to my favorite
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Speaker 2: episode of the entire week of Money Diaries, where I
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Speaker 2: get the absolute pleasure of talking to one of our
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Speaker 2: She's on the Money community members all about their journey.
1:15
Speaker 2: Let's jump straight into it, because this week I got
1:17
Speaker 2: an email and it sounded exactly like this. Hi, Victoria.
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Speaker 2: I went from major consumer debt to owning three properties
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Speaker 2: and was inspired by Victoria to follow my passion in
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Speaker 2: finance and I am now in my professional year to
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Speaker 2: become a financial advisor. I did try to post on
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Speaker 2: the Facebook page and was told I should share my
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Speaker 2: money story here. You absolutely should, my friend, congratulations, I'm
1:42
Speaker 2: so excited. Welcome to the industry that I'm no longer
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Speaker 2: a part of.
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Speaker 4: I think, yes, now, I was a little bit disappointed
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Speaker 4: when I heard that you're moving out.
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Speaker 2: Oh sorry, I still hang around, I promise.
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Speaker 4: My game plan originally was like, if I go to
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Speaker 4: you know, forums and whatnot for advisors, that I can
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Speaker 4: run into Victoria and beat her.
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Speaker 2: Oh I go still you do okay, great? Yeah, yeah, yeah, yeah,
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Speaker 2: I'm so excited about it. It's funny because obviously I'm
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Speaker 2: no longer a licensed financial advisor and I stepped back
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Speaker 2: to focus more on that she's on the money community. Obviously,
2:14
Speaker 2: doing one on one client work took a lot out
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Speaker 2: of me and a lot out of my day. Adored it,
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Speaker 2: but obviously loved doing community stuff. But deep down, I'm
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Speaker 2: a nerd babe, like I really want to like if
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Speaker 2: there is a forum, if there is a advisor conference
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Speaker 2: that I'm allowed into, I'm like, hey, hi, it's me.
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Speaker 2: And I've obviously got a heap of financial advisor friends,
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Speaker 2: so he usually just tag along with them. I'm like, oh,
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Speaker 2: would you look at that? I work for sky Wealth today.
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Speaker 2: Oh that's crazy. I've come along as an associate, which
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Speaker 2: is really really fun, but you will still see me
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Speaker 2: there because at heart, I really miss it. Oh that's great,
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Speaker 2: So let's learn a little bit more about you. I
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Speaker 2: am super excited about this because going from being in
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Speaker 2: consumer debt to having three houses slay, but then also
3:00
Speaker 2: to love finance so much that you're like, you know what,
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Speaker 2: this was so fun that I wanted to help other
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Speaker 2: people do that. I'm just really excited. So let's start
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Speaker 2: the episode as I always do, Money Diarist, If I
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Speaker 2: was to ask you to give yourself a grade from
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Speaker 2: A three to F, what would you say your money
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Speaker 2: grade is?
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Speaker 4: Oh, at this point in time, I would say B
3:20
Speaker 4: plus because I have gone a long way, but I
3:23
Speaker 4: still have a fair way to go as well. So
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Speaker 4: I'm not where I want to be, but I'm on
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Speaker 4: the track to being where I want to be.
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Speaker 2: Yes, and please let's learn more about it, Money Diarist.
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Speaker 2: My favorite question, can you tell me a little bit
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Speaker 2: more about your money story?
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Speaker 4: So a bit of backstory is that me and my
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Speaker 4: husband had our first child, and we had just gotten married,
3:42
Speaker 4: and we did purchase our first hope, so we did
3:44
Speaker 4: already have that. I had just had my second in
3:48
Speaker 4: early twenty twenty. Great when COVID hit. Oh yeah, yeah,
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Speaker 4: and we were in over thirty thousand dollars worth of
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Speaker 4: consumer debt at that point in time. We had after pay,
3:59
Speaker 4: zip pay, credit cards, personal loans, you name it. One
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Speaker 4: night when I was up late, you know, feeding the baby,
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Speaker 4: and that I come across your podcast and I got hooked.
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Speaker 2: Hello friend, I'm a three am kind of gal, you know.
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Speaker 4: Yes, definitely, And I got absolutely hooked on it. And
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Speaker 4: because I was on maternity leave, so we only had
4:20
Speaker 4: obviously my husband's wage and then part of the paid rental,
4:24
Speaker 4: so it wasn't obviously too much. Yeah, we managed to
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Speaker 4: pay within that year of my maternity leave just over
4:29
Speaker 4: thirty grand worth of consumer debt.
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Speaker 2: Oh no you didn't. Yeah, like while only only what
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Speaker 2: that is epic? I want to know a little bit more.
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Speaker 2: First thing, so how did you get into consumer debt
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Speaker 2: with things just like getting out of hand, like obviously
4:44
Speaker 2: having two kids, getting married, buying your first house in
4:46
Speaker 2: quick succession. I don't know if you know this is
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Speaker 2: expensive and also stressful, but how did you end up
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Speaker 2: in that debt? And then I guess tell me a
4:54
Speaker 2: bit more about this getting out of debt thing, because
4:56
Speaker 2: that's impressive.
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Speaker 4: So yeah, like I said, we had bought our house
5:00
Speaker 4: and then just after we brought it up like owner occupied,
5:02
Speaker 4: one month later, my husband proposed to me for you. Yeah.
5:06
Speaker 4: Then from there everything we ended up getting a personal
5:10
Speaker 4: line to finish paying out the rest of the wedding.
5:12
Speaker 4: The wedding was part of it, and then you know,
5:14
Speaker 4: you see all those cute little instagram and like Etsy stores,
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Speaker 4: so I bought all the wedding stuff on there and
5:20
Speaker 4: used after pay.
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Speaker 2: It adds up pay.
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Speaker 4: Yeah, it was a lot of materialistic things. I think
5:25
Speaker 4: going back, a lot of the consumer debt we had
5:28
Speaker 4: were because of materialistic items. I think. The only other
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Speaker 4: consumer debt which part of the personal loan which I
5:34
Speaker 4: try not to incorporate, is the soul panel a loone.
5:37
Speaker 2: Yeah that's a bit different though. Hey yeah, yeah, that's
5:40
Speaker 2: not items for a wedding, that's an investment into you
5:43
Speaker 2: not having an electricity bill in the future.
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Speaker 4: Yes, it's been so great, and then obviously with my
5:49
Speaker 4: impending baby coming, I decided to spend it up and
5:53
Speaker 4: add on the zippay and the credit card, and that
5:55
Speaker 4: it had got to the point where we were just spending, spending,
5:58
Speaker 4: spending and not actually realizing it just.
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Speaker 2: Kind of got out of control. That is fair. But
6:02
Speaker 2: the important question here is how on earth while you
6:05
Speaker 2: were on maternity leave did you get out of that debt?
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Speaker 2: Because that's crazy for anyone to get out of thirty
6:11
Speaker 2: thousand dollars worth of credit card debt in one year,
6:14
Speaker 2: but like to do that on a single income with
6:17
Speaker 2: paid parental leave, which we all know like is honestly
6:20
Speaker 2: the bare minimum, it's minimum wage. How how.
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Speaker 4: So, obviously I set out a plan. I fell in
6:27
Speaker 4: love with Excel.
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Speaker 2: Spreadsheets, woman after my own heart.
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Speaker 4: Oh, I should hear all the girls at work they
6:34
Speaker 4: laugh about it. And then I found out, like, you know,
6:37
Speaker 4: what was my biggest debt, what was my smallest debt,
6:39
Speaker 4: what had the highest interest? I you know, went through
6:42
Speaker 4: and I compared what was what what would be the
6:44
Speaker 4: best way? So obviously I think I started with like
6:46
Speaker 4: the after pays because they were the smallest, went onto
6:49
Speaker 4: the set pays, and then just slowly did it From there,
6:52
Speaker 4: you did an episode on junk insurance. Yeah, I got
6:56
Speaker 4: on the phone, I called, and I think we ended
6:58
Speaker 4: up getting about five or six grand and no you didn't,
7:01
Speaker 4: yeah back, So that really helped money win. It was
7:06
Speaker 4: a great money win.
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Speaker 2: So, well, you don't know what you don't know, right,
7:09
Speaker 2: And the second you hear something like that, you're like, wait,
7:11
Speaker 2: hold on, are you telling me? And then you check
7:13
Speaker 2: and you're like, excuse me, how has this been happening
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Speaker 2: to me? And it's not because you're silly, it's just
7:18
Speaker 2: you thought you were doing the right thing and then
7:20
Speaker 2: it just tax on and tax on. But I'm so
7:22
Speaker 2: glad you chased it up because you know, obviously a
7:25
Speaker 2: lot of people don't it's worth it, though, Hey, it
7:28
Speaker 2: definitely is.
7:29
Speaker 4: And like I said, that's what helped us pay a
7:30
Speaker 4: big chunk of each of the other things. And then
7:33
Speaker 4: obviously I set out a budget. That was the biggest thing.
7:36
Speaker 4: Was like, well, we need to know, you know what
7:38
Speaker 4: we're doing. And it was good because we had that
7:40
Speaker 4: year as well break from daycare, so the consent I
7:43
Speaker 4: was on attorney leap and my first child went to kindy,
7:46
Speaker 4: so it's.
7:47
Speaker 2: Nice once they go to kindy. I've spoken about it before,
7:50
Speaker 2: but I was horrified and how much daycare is going
7:53
Speaker 2: to cost us. That is not going to be the
7:56
Speaker 2: best season of my life, but I think it's a
7:58
Speaker 2: necessary one working.
8:01
Speaker 4: Yes, well, my second child finished daycare at Christmas time,
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Speaker 4: so we're in kindy and we're out.
8:05
Speaker 2: You're out, you're out the other side. Yes, I'm so pervy,
8:10
Speaker 2: especially about this debt reduction thing, because I've obviously been
8:13
Speaker 2: in a very similar position. So I really empathized with
8:17
Speaker 2: you know, how overwhelming it can be and how it
8:20
Speaker 2: keeps you up at night and it makes you feel
8:22
Speaker 2: sick and you just don't know what to do. But
8:24
Speaker 2: once you start smashing it down. You said before I
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Speaker 2: started with the small debts and after pay, do you
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Speaker 2: feel like starting with the small stuff really motivated you
8:32
Speaker 2: because you were like, wow, tick, that's gone. Next thing, Like,
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Speaker 2: do you feel like it kind of compounded over time?
8:38
Speaker 2: How committed you were to debt reduction or like what
8:41
Speaker 2: was the feeling along the journey?
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Speaker 4: Yes, I found you know, because the smallest ones were
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Speaker 4: like the first ones to go. That gave me my boost,
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Speaker 4: that confidence to go, I can do this, Like we've
8:51
Speaker 4: gotten rid of the after pain, now let's get rid
8:53
Speaker 4: of my husband's sid pay Let's just keep going, let's
8:56
Speaker 4: do this like and I realized as I kept paying
8:59
Speaker 4: one off, in kind of spending that money that we
9:01
Speaker 4: used to pay it off, I would just chuck that
9:04
Speaker 4: onto the next step. Yeah, which helped, you know, So
9:06
Speaker 4: that money I pretended that we didn't have, which was
9:09
Speaker 4: absolutely great, and that's what helped us well to pay
9:12
Speaker 4: down though.
9:12
Speaker 2: So yeah, the momentum just keeps going. And then you
9:16
Speaker 2: I don't know when it was happening to me. I
9:18
Speaker 2: just consistently felt lighter every time something else was gone.
9:21
Speaker 2: I was like, yep, feeling lighter, feeling better, like this
9:23
Speaker 2: is so good, and you kind of forget how bad
9:27
Speaker 2: it was, and then you realize, oh my gosh, I've
9:29
Speaker 2: created this entirely new lifestyle for myself.
9:33
Speaker 4: Yes, I had to go back because I knew. I
9:35
Speaker 4: posted on the Facebook page about it, So I had
9:37
Speaker 4: to go back. And it was July twenty twenty and
9:39
Speaker 4: reading what I had put up and how much I was,
9:42
Speaker 4: you know, going through again and going, oh my god,
9:45
Speaker 4: I have come this far. I can't believe it.
9:47
Speaker 2: So gosh, I love it. I'm so proud of you
9:49
Speaker 2: all right, I have to ask the next question because
9:51
Speaker 2: I need to know now. Obviously you've got two kids
9:54
Speaker 2: who have passed kindy money, we're no longer paying daycare.
9:57
Speaker 2: But what do you do for work? How much money
9:59
Speaker 2: do you earn currently?
10:01
Speaker 4: I am doing a few roles. I love to just
10:04
Speaker 4: not stop. So I am currently a mortgage broker. Oh exciting, yes,
10:09
Speaker 4: and then I'm also completing my provisional year to become
10:12
Speaker 4: a financial advisor or exciting yes, So I'm in the
10:17
Speaker 4: learning phase at the moment. I still do need to
10:19
Speaker 4: have a mentor for my mortgage broking until I think
10:22
Speaker 4: about Easter. Yeah, and then I'll be fully accredited. So
10:25
Speaker 4: what I earn at the moment is sixty five thousand
10:29
Speaker 4: per year, not including super and then a small amount
10:32
Speaker 4: of commission on the side.
10:34
Speaker 2: Yeah. Exciting, and especially because you're in your I guess
10:37
Speaker 2: provisional year as a broker, that's pretty good. So tell
10:41
Speaker 2: me about the commission side of things, because I like
10:43
Speaker 2: to be really clear when talking to people, especially broking,
10:46
Speaker 2: because they go, isn't it dodgy to get commissioned? Absolutely not?
10:50
Speaker 2: But how does that work in your role? Is that
10:53
Speaker 2: per loan settled, or is that you know across the board,
10:57
Speaker 2: like do you get a certain amount of commission based
10:59
Speaker 2: on what the business or like how does that come about?
11:02
Speaker 4: So the business gets paid a commission for each line
11:05
Speaker 4: that's drawn, and then they pay me a smaller commission
11:08
Speaker 4: on that. So at the moment, it is ten percent
11:11
Speaker 4: of all loans and any new business that I bring
11:15
Speaker 4: because I'm currently in a financial advisors any new business
11:18
Speaker 4: that I bring in is an extra six percent on
11:20
Speaker 4: top of that.
11:20
Speaker 2: Oh that's nice, That's not bad at all. I'm going
11:25
Speaker 2: to be really pervy. So mortgage brokers, I don't know
11:27
Speaker 2: if you know this, guys, but actually own a mortgage
11:29
Speaker 2: broking company called Zella Money. But do you get ten
11:35
Speaker 2: percent of the upfront fee? So when you see a
11:38
Speaker 2: mortgage broker, when the loan settles, the bank pays the
11:42
Speaker 2: mortgage broker a fee, right, And that fee doesn't mean
11:45
Speaker 2: that you're paying more to see a mortgage broker. In fact,
11:48
Speaker 2: it's exactly the same whether you go direct or not.
11:51
Speaker 2: You just get a whole hep more help using a broker.
11:54
Speaker 2: They get an upfront fee, but they also get a trail.
11:57
Speaker 2: Are you getting any trail or just upfront.
12:00
Speaker 4: I'm getting upfront and trail. Oh, yes it is.
12:04
Speaker 2: See, that's what I wanted to know. We do that
12:06
Speaker 2: with our team as well, because I think it's the
12:08
Speaker 2: fairest way to do it. Like, you didn't come this
12:10
Speaker 2: far to only come this far. Your income should go
12:12
Speaker 2: up each and every single year. What do you think
12:14
Speaker 2: over the next few years your income is going to
12:17
Speaker 2: look like?
12:18
Speaker 4: Oh, I am hoping it is going to go up.
12:20
Speaker 4: I know statistically when I did my training with mortgages
12:24
Speaker 4: and that that statistically, on average mortgage brokers and one
12:29
Speaker 4: hundred and fifty thousand per year financial advisors, I should
12:32
Speaker 4: say are about one hundred to one hundred and thirty roughly.
12:36
Speaker 4: It depends on obviously where you're situated where regional.
12:38
Speaker 2: Yeah, regional is much harder.
12:40
Speaker 4: Yeah. So I am hoping to probably hit that hundreds eventually, or.
12:44
Speaker 2: You'll get there in no time. If your business is
12:46
Speaker 2: giving you upfront plus comms and a really good base,
12:50
Speaker 2: like I think you are going to be just fine.
12:52
Speaker 2: And once the ball starts rolling straight off after you've
12:56
Speaker 2: finish your provisional year, oh, you're going to be fine.
12:59
Speaker 2: I say that because I live really see it in
13:00
Speaker 2: my own business every single day. Great, I love it.
13:04
Speaker 2: I can't wait. You have to tell me when you
13:06
Speaker 2: crack the six figures. I want to know. Now you've
13:09
Speaker 2: obviously gotten out of heap of debt, what is your
13:12
Speaker 2: big money goal? What are you currently looking forward to?
13:15
Speaker 4: Because my husband and I we obviously share everything. We
13:18
Speaker 4: have the same mindset, which is great when it comes
13:21
Speaker 4: to money. I'm the finance minister, as he calls it,
13:24
Speaker 4: so I handle all that. Our next big money goal,
13:27
Speaker 4: we do want to get to one hundred thousand in investing,
13:30
Speaker 4: so that's our next big one.
13:32
Speaker 2: How far away is that?
13:33
Speaker 4: Oh, we've got a few little things in the pipeline
13:36
Speaker 4: until we've only got about ten thousand at the moment.
13:39
Speaker 2: So hey, that's ten percent of the way there. That's
13:41
Speaker 2: not bad.
13:43
Speaker 4: Yeah, So we're hoping just over the next six years
13:45
Speaker 4: or so to do that slowly and then just leave it,
13:48
Speaker 4: you know, let it grow, let it build.
13:49
Speaker 2: So it's obvious you're going to be a good financial
13:51
Speaker 2: advisor or is setting very clean, clear goals that are attainable.
13:55
Speaker 2: Let's go to a really quick break because on the
13:57
Speaker 2: other side, I have a lot to ask about because
14:00
Speaker 2: in your letter, in you said, I own three houses,
14:03
Speaker 2: and that's a flex we have not dove into yet,
14:06
Speaker 2: So guys, don't go anywhere, all right, money darist. We
14:13
Speaker 2: are back, and I'm assuming you don't have three primary residences.
14:18
Speaker 2: So I'm going to need to know, my friend, do
14:21
Speaker 2: you have any investments? If so, what are they?
14:23
Speaker 4: Yeah, I have two investment properties and then obviously the
14:28
Speaker 4: ten thousand shares that I have at the moment.
14:30
Speaker 2: So tell me about how that happened, because that's pretty
14:34
Speaker 2: big deal to have two investment properties plus your primary
14:37
Speaker 2: residence plus ten grand in shares, Like that's wild. That
14:41
Speaker 2: is something that a lot of people dream of. How
14:44
Speaker 2: did you go from being in thirty thousand dollars worth
14:47
Speaker 2: of credit card debt and consumer debt all the way
14:49
Speaker 2: through to owning your own homes, multiple of them.
14:53
Speaker 4: So, like I said, after I went on attorneys, I
14:56
Speaker 4: knew I loved finance. You you know, help me see that
14:59
Speaker 4: passion actually started at the bank because I wasn't sure
15:03
Speaker 4: what avenue I wanted to take at that point in time,
15:05
Speaker 4: and working at the bank doing lending and that I
15:07
Speaker 4: kind of fell in love with that lending side a bit,
15:10
Speaker 4: and we had you know, paid out our consumer debt.
15:13
Speaker 4: We had a little bit of money in the bank
15:14
Speaker 4: and originally we were actually going to do a house
15:18
Speaker 4: of land package, so it had signed on for that
15:20
Speaker 4: in early twenty twenty one, and then they turned around
15:23
Speaker 4: and said to us it's going to be another two
15:26
Speaker 4: to three year wait pretty much. So I hadn't even
15:28
Speaker 4: been titled then, and I thought to myself, I thought, well,
15:31
Speaker 4: what are we going to do with this money. It's
15:33
Speaker 4: just sitting there. We should try and do something with it.
15:37
Speaker 4: And yeah, we ended up buying a little unit. We
15:40
Speaker 4: only paid two hundred thousand for it. That was our budget.
15:42
Speaker 4: We didn't want to spend too much. Yeah, two hundred
15:45
Speaker 4: thousand in regional Queensland. So it's only about a five
15:47
Speaker 4: minute drive from us, and we have had wonderful tenants
15:51
Speaker 4: in there. It's been amazing up until the end of
15:54
Speaker 4: this year. And then my husband's grandparents moved from Tasmania.
15:59
Speaker 4: Now living in that.
16:00
Speaker 2: Oh how wholesome. I love that so much. So are
16:05
Speaker 2: you renting it out to them or is that something
16:08
Speaker 2: so they're paying for it?
16:09
Speaker 1: Yes?
16:10
Speaker 4: Yeah?
16:10
Speaker 2: And what kind of rental yield are you getting on
16:12
Speaker 2: a two hundred thousand dollar investment.
16:14
Speaker 4: At this point in time, we're only charging them three
16:17
Speaker 4: hundred dollars per week.
16:18
Speaker 2: Hey, that's pretty good for a two hundred thousand dollar investment.
16:22
Speaker 2: Like that's not bad at all. Like I would definitely
16:25
Speaker 2: buy a two hundred thousand dollar apartment if I could
16:28
Speaker 2: rent it out three hundred bucks a week, like money win.
16:31
Speaker 2: What were you renting it out before when they weren't family?
16:34
Speaker 4: Well, it was still three hundred, but originally the real
16:37
Speaker 4: estate was going to increase it to about three twenty
16:39
Speaker 4: three thirty, and we thought, oh, keep you know, we'll
16:41
Speaker 4: leave it at three because we're already positively gear and.
16:44
Speaker 2: That that's very sexy. I like that. Tell me what
16:48
Speaker 2: do you owe on that property currently?
16:51
Speaker 4: I owe about one hundred and sixty thousand on it
16:55
Speaker 4: being at the bank. I've got lender's mortgage insurance weight.
16:58
Speaker 2: Oh it must be nice.
17:00
Speaker 4: Yeah, we just put the base amount ten percent. I
17:03
Speaker 4: think it was to put towards it.
17:05
Speaker 2: I love that, all right, But that's your first investment property. Yes,
17:08
Speaker 2: what's the second one, my friend? And when did you
17:10
Speaker 2: purchase that?
17:11
Speaker 4: So that one we purchased in mid twenty twenty two,
17:17
Speaker 4: and we purchased this up in Airly or Cannon bayo.
17:21
Speaker 2: Very fancy area. She's a bougie goal.
17:24
Speaker 4: Yes, because our overall plan is to because we're so
17:28
Speaker 4: negatively geared with the first one, we wanted to go
17:30
Speaker 4: a bit more negatively geared, you know, more so neutrally
17:33
Speaker 4: gear it. So we purchased that one, yeah, back in
17:35
Speaker 4: mid twenty twenty two for two hundred and thirty six thousand.
17:39
Speaker 4: We are currently renting it at four hundred dollars per week.
17:43
Speaker 2: Oh, very nice. So it's so interesting hearing these stories
17:49
Speaker 2: because obviously we have these conversations in our community all
17:52
Speaker 2: the time about property being completely unobtainable.
17:55
Speaker 1: Right.
17:56
Speaker 2: People are saying, I can never get into my first home.
17:58
Speaker 2: I can never get into my first you know, investment property.
18:01
Speaker 2: It's all too expensive because I think all of them
18:03
Speaker 2: are looking in inner city Melbourne and Sydney and Brisbane
18:07
Speaker 2: and you just go, world has changed, unfortunately, and as
18:11
Speaker 2: much as we don't like it and we would love
18:13
Speaker 2: to buy inner city, not everyone can afford a eight
18:16
Speaker 2: hundred thousand dollar apartment and looking at it, going wow,
18:19
Speaker 2: look at these investments. Two hundred and thirty six thousand
18:22
Speaker 2: dollars on a property that is now paying you out
18:25
Speaker 2: four hundred bucks a week. There are properties in Melbourne
18:28
Speaker 2: right now that are renting for four hundred dollars a
18:30
Speaker 2: week that I guarantee are seven or eight hundred thousand
18:34
Speaker 2: dollars to purchase. Where did you get this knowledge to
18:37
Speaker 2: purchase in these areas? Like, obviously you're pretty savvy at
18:40
Speaker 2: finance nowadays, but how did you make these decisions and
18:44
Speaker 2: know that they were right for you and your family
18:45
Speaker 2: when it came to purchasing investment property?
18:48
Speaker 4: Well, with the first one, we did want one and
18:51
Speaker 4: where we were close to, just because we like the
18:53
Speaker 4: area and we knew that even if we did move
18:56
Speaker 4: away that we can always have that one as an investment.
18:58
Speaker 4: I used to work as a property MANA.
19:00
Speaker 2: So oh, you've got heats of experience that you didn't
19:03
Speaker 2: tell us about.
19:05
Speaker 4: Yes, so being a property manager obviously also helped in
19:08
Speaker 4: knowing the ins and outs pretty much of that. And
19:11
Speaker 4: then with Airly or Cannon Bale, I should say five
19:14
Speaker 4: bit of outside Airly, but I still class it because
19:17
Speaker 4: same same my husband and I we eventually want to
19:21
Speaker 4: like when we have we're a bit more cash flow positive,
19:23
Speaker 4: we want to renovate it. Eventually and then actually just
19:26
Speaker 4: use it mainly as a holiday home or it must
19:28
Speaker 4: be nice eventually down the track. So that is why
19:33
Speaker 4: you know, Airly appealed to us, because you know it's
19:35
Speaker 4: not too far from where we are, and you know
19:37
Speaker 4: we could do weekend trips and that eventually.
19:40
Speaker 2: And I mean, looking at that, I've obviously been really
19:43
Speaker 2: pervy because if anything, I am a snoop And I've
19:46
Speaker 2: just calculated your rental yield on both of your properties,
19:49
Speaker 2: which you obviously have done before. But for those listening,
19:53
Speaker 2: the two hundred and thirty six thousand dollars property in
19:55
Speaker 2: early renting out at four hundred dollars a week gives
19:57
Speaker 2: you an average rental yield of eight points to eight percent.
20:01
Speaker 2: That's sexy. And then even though you're like, oh, we
20:04
Speaker 2: just you know, charged the grandparents three hundred dollars a week,
20:07
Speaker 2: like that's you know what we feel comfortable with purchase
20:10
Speaker 2: price of two hundred grand, you're sitting at a seven
20:13
Speaker 2: point eight two percent rental yield. Like those are numbers
20:17
Speaker 2: that inner city Melbourne people would dream of. Because if
20:21
Speaker 2: we flip it right, four hundred bucks a week, as
20:22
Speaker 2: I said, that's probably gonna get you like a studio,
20:25
Speaker 2: one bedroom apartment in like Hawthorne in Melbourne, like a
20:29
Speaker 2: little bit further out. You're not gonna look at, you know,
20:31
Speaker 2: anything less than that. Like, I think a lot of
20:34
Speaker 2: people listening are gonna be like Victoria, four hundred bucks
20:36
Speaker 2: a week is a good deal. Seven hundred and fifty
20:39
Speaker 2: thousand dollars is about average for those areas for an apartment. Yeah,
20:42
Speaker 2: that rental yield is two point seven eight percent. I'm
20:45
Speaker 2: so excited that you're killing it, but also like slightly
20:48
Speaker 2: envious that I haven't done this myself.
20:52
Speaker 4: Oh thank you.
20:53
Speaker 2: She's an investing queen. So what's the next steps when
20:56
Speaker 2: it comes to property? Obviously you're pretty good at it,
20:59
Speaker 2: You've got this grounding property management, so you feel pretty
21:02
Speaker 2: confident in picking. You obviously have not gone beyond your
21:05
Speaker 2: means when purchasing property. But what next? Is there more
21:08
Speaker 2: properties on the horizon? Like where are we going? What
21:11
Speaker 2: are we doing?
21:12
Speaker 4: Sounds like my husband, I don't know.
21:14
Speaker 2: Sorry, I always want to have a plan. I love
21:16
Speaker 2: a future, I love strategy, I love getting ahead. But also,
21:19
Speaker 2: as I said, I'm a snoop, I'm going to need
21:22
Speaker 2: to know.
21:22
Speaker 4: Me being a mortgage broker. I know what we can
21:24
Speaker 4: afford to buy now, because I just like to know
21:27
Speaker 4: that we do have, you know, available equity in our
21:30
Speaker 4: current home or in the first investment, so we could
21:33
Speaker 4: potentially get another investment property. My husband is looking over
21:38
Speaker 4: at Wa and Bundery. Oh you but that's going into States,
21:43
Speaker 4: so that's a bit more research for me to go into.
21:45
Speaker 4: But at this point in time, we've got a bit
21:47
Speaker 4: more in the works before I would want to probably
21:49
Speaker 4: look into that.
21:50
Speaker 2: So yeah, that's very very fair. I think. I think
21:54
Speaker 2: it's really interesting when you talk to people about their investments, right,
21:57
Speaker 2: and I know that Early is a fair bit away
21:59
Speaker 2: from where you currently live. However, you are in Queensland,
22:02
Speaker 2: so it kind of makes sense that you know that market,
22:05
Speaker 2: you know what's going on there. You know, it's not
22:07
Speaker 2: too much of a step. Whereas for someone like me
22:10
Speaker 2: who's living in Melbourne buying in Early that fuels really scary,
22:15
Speaker 2: like and I'm not saying that I wouldn't do it.
22:17
Speaker 2: With the right research and the right support and all
22:19
Speaker 2: of that, I might even consider it, but it's one
22:22
Speaker 2: of those things that you go it makes sense that
22:24
Speaker 2: you're buying where you know and then over time you
22:26
Speaker 2: might spread your wings a little bit more and go, actually,
22:29
Speaker 2: what about something here here or here? Yeah, we do
22:32
Speaker 2: have one more, but we don't have another investment.
22:36
Speaker 4: Sorry, sorry, one more. Watch our first investment. It's a
22:41
Speaker 4: unit and it's next to another unit. We have said
22:44
Speaker 4: to the people residing there they are elderly.
22:46
Speaker 2: Oh yeah, and we have told them we'd love to
22:48
Speaker 2: own it pretty much.
22:51
Speaker 4: You're like, oh, hey, if you guys ever go to
22:53
Speaker 4: a retirement home or look to sell it, come see
22:55
Speaker 4: us first, because honestly, that's all we'd want. If we
22:57
Speaker 4: got that third one, we'd be happy.
22:59
Speaker 2: That's really call. And it's in a location that you know.
23:02
Speaker 2: And obviously, let's be honest, even if you bought it
23:05
Speaker 2: at market rates, that rental yields looking pretty good.
23:08
Speaker 4: Definitely definitely, Oh my gosh, I love it.
23:10
Speaker 2: All right, let's talk about debt. Obviously, we understand a
23:12
Speaker 2: little bit about the properties that you have. Tell me
23:15
Speaker 2: now about any debt that you have, like even on
23:19
Speaker 2: your current property that you're living in.
23:21
Speaker 4: So our owner occupied, we owe two hundred and thirty thousand,
23:25
Speaker 4: and it is worth about four hundred and fifty you'rey nice, Yes,
23:29
Speaker 4: and the first investment property. We owe one hundred and
23:33
Speaker 4: sixty and last my check that was about two hundred
23:37
Speaker 4: and thirty five thousand. I do a net worth every month,
23:42
Speaker 4: So do you have a spreadsheet for your networth calculator?
23:44
Speaker 4: I do have a spreadsheet.
23:45
Speaker 2: I'm currently building one out for the she'es on the
23:47
Speaker 2: money community because I'm obsessed with like tracking networth every
23:51
Speaker 2: month and I love updating it. My teammate really excited
23:55
Speaker 2: about that. But that's coming. I'll send you a copy.
23:57
Speaker 2: Don't worry.
23:58
Speaker 4: Oh, that's amazing.
23:59
Speaker 2: It'll be very esthetic, it'll be very pretty. But it'll
24:01
Speaker 2: be like a dashboard of keeping track of your net worth.
24:05
Speaker 4: I'll have to transfer it all over because I think
24:07
Speaker 4: I'm from like December twenty one.
24:09
Speaker 2: Oh, but you've got heaps, so maybe yours is literally
24:12
Speaker 2: perfect for you. It honestly doesn't even matter how you
24:15
Speaker 2: do it. But if you're doing it, how motivating is it?
24:18
Speaker 2: Where you can see it?
24:18
Speaker 4: It's going back?
24:19
Speaker 2: Oh, I get so excited.
24:22
Speaker 4: Yes, sorry, back onto dead before I forget. And our
24:26
Speaker 4: second one, it is worth about two hundred and sixty
24:29
Speaker 4: five thousand, and we owe two hundred and forty two.
24:33
Speaker 4: We did use the equity from our owner occupied to
24:36
Speaker 4: buy that, So there's not really that much equity in
24:39
Speaker 4: there at the moment, but there will be eventually.
24:41
Speaker 2: But that makes a lot of sense though. So if
24:43
Speaker 2: you're looking at that going, oh, what percentage of it
24:46
Speaker 2: to your own I'd be like, oh, like not much yet.
24:50
Speaker 2: But you've literally owned it since twenty twenty two, so
24:53
Speaker 2: you're doing really well, like you're at the start of
24:56
Speaker 2: the journey. I don't know if you guys know better
24:58
Speaker 2: mortgages a thirty year can comment. I mean in Latin
25:01
Speaker 2: mortgage literally means till death, which makes you sound a
25:06
Speaker 2: little bit negative if you tell clients that. So as
25:09
Speaker 2: someone who owns a mortgage breaking practice to a mortgage breaker,
25:11
Speaker 2: probably don't explain the meaning of mortgage to them. It
25:13
Speaker 2: gets a little bit dire. But you go, wow, you've
25:15
Speaker 2: got thirty years to paid off. But I think it's
25:19
Speaker 2: really interesting, especially talking to you right now, at this
25:22
Speaker 2: point in I guess your wealth journey, you've put all
25:26
Speaker 2: your ducks in a row, Like obviously you're making about
25:29
Speaker 2: eight percent on both of those properties. Like that's clearly
25:33
Speaker 2: going to pay off over time, because if you look
25:36
Speaker 2: at the interest rates. At the moment, you're not paying
25:38
Speaker 2: eight percent on your properties yet. So even if you
25:41
Speaker 2: didn't lift a finger or do the renovations that you've
25:43
Speaker 2: got planned or buy another one, like over time, they're
25:46
Speaker 2: just going to tick away. And let's say they extinguish
25:48
Speaker 2: themselves after twenty five years, which I would probably expect
25:52
Speaker 2: them to. Given what you're earning and you know what
25:55
Speaker 2: it's worth, You're then going to have what four hundred
25:58
Speaker 2: plus three hundred dollars a week, every single week coming
26:02
Speaker 2: in as passive income. Like that's a money win. We're
26:05
Speaker 2: setting ourselves up for success here. I love this.
26:08
Speaker 4: Thank you. We do have a little bit more debt,
26:11
Speaker 4: but I will explain a bit more why we do
26:14
Speaker 4: currently have a car loan. I know it's consumer debt,
26:17
Speaker 4: but the reason why we did have the cash for
26:19
Speaker 4: the car, but we decided let's put it into renovations,
26:22
Speaker 4: which built our equity up, and that's how we purchased
26:25
Speaker 4: the next investment property.
26:26
Speaker 2: She's got a plan and that's what we like to see.
26:29
Speaker 2: If you say I've got a car loan and be like, oh,
26:31
Speaker 2: what did you buy, and then you explained to me, oh, look,
26:34
Speaker 2: it actually financially made more sense to do ABC and D. Also,
26:37
Speaker 2: we have two small kids, so we probably really needed
26:40
Speaker 2: the new car to transport them around. I don't care.
26:43
Speaker 2: I just want people to make well educated decisions. I
26:47
Speaker 2: don't mind if you've got a car loan, as long
26:49
Speaker 2: as you're on the track to understanding exactly why when
26:52
Speaker 2: we're in how. What upsets me is when people are like, oh,
26:56
Speaker 2: got a car loan at eighteen, and I just didn't
26:59
Speaker 2: realize how if it was, or what that meant, or
27:02
Speaker 2: that it would actually cost me four hundred dollars a week.
27:04
Speaker 2: Like that stuff is heartbreaking when people don't have the education.
27:08
Speaker 2: I'm sorry. You just told me about your two investment properties,
27:10
Speaker 2: and you're building equity in your current house, and now
27:13
Speaker 2: you've got a car loan. Do I care that much
27:15
Speaker 2: about that? Not really.
27:18
Speaker 4: Well, we currently owe now thirty eight thousand. We're very
27:23
Speaker 4: far advanced, so we are on track to pay it
27:25
Speaker 4: off by September this year.
27:26
Speaker 2: No, you're not hold on your thirty eight thousand dollars
27:29
Speaker 2: and you reckon you're paying it off by September.
27:31
Speaker 4: It's got to be a push.
27:32
Speaker 2: Who is she?
27:34
Speaker 1: So?
27:35
Speaker 4: My original plan was Christmas but I reckon, I can
27:37
Speaker 4: bring it forward focus a bit more now that there's yes,
27:40
Speaker 4: no more daycare, or that I reckon, I can smash
27:42
Speaker 4: to September. Oh my gosh, can you please check in
27:45
Speaker 4: and in September we can do it like where are
27:47
Speaker 4: they now?
27:47
Speaker 2: Episode? Because I just shook that you have the capacity
27:50
Speaker 2: to do that. Tell me, pervy detail, what does your
27:53
Speaker 2: husband earn?
27:55
Speaker 4: So my husband is a truck driver. His wage goes
27:58
Speaker 4: up a bit more like up and downs. Last year
28:00
Speaker 4: was about one hundred and seven thousand for the year.
28:03
Speaker 2: But that's pretty good, Like that's a solid income. But
28:08
Speaker 2: then you look at it and go, all right, well
28:10
Speaker 2: you did that or Matt leave like that one oh
28:13
Speaker 2: seven plus what minimum wage, which would be about I
28:15
Speaker 2: don't know, thirty ish max thousand a year from that
28:20
Speaker 2: to kill it. I love it. That's your entire income
28:22
Speaker 2: paying off a debt. I'm just I'm genuinely shook. I'm
28:26
Speaker 2: so proud of you. That makes me want to like
28:27
Speaker 2: hug you you through the screen. We need to know
28:30
Speaker 2: though this stuff doesn't just happen. What is your best
28:33
Speaker 2: money habit? What can you share with us that we
28:35
Speaker 2: can go all right, it's the start of the year,
28:37
Speaker 2: we're going to need some motivation and we want to
28:40
Speaker 2: copy this money derest because she seems to have her
28:42
Speaker 2: head screwed on.
28:43
Speaker 4: I did actually reach out to a few friends and go,
28:45
Speaker 4: what do you think you know? It's my best money having.
28:47
Speaker 4: Oh I love these and they all agreed, so I'll go.
28:52
Speaker 4: We have a big freezer in our house, like and
28:55
Speaker 4: there's a massive chess freezer. You get charged the same
28:58
Speaker 4: amount whether it's full or empty. So what we do
29:01
Speaker 4: every four to six months we do massive meat shops.
29:04
Speaker 4: We buy in bulk, so we buy from the meat works,
29:06
Speaker 4: which is a lot cheaper, and then we cut it
29:08
Speaker 4: all up, we cry back it, we put it in
29:10
Speaker 4: the freezer, and then I actually do a freezer inventory,
29:13
Speaker 4: which everyone laughs about.
29:15
Speaker 2: I'm obsessed. How do you keep that is like on
29:17
Speaker 2: the freezer? Is there a book on your fridge?
29:18
Speaker 1: Like?
29:19
Speaker 2: How do we do this?
29:20
Speaker 4: Currently? It's in my phone at the moment. From there,
29:22
Speaker 4: we do monthly meal plans. Because my husband's a trucked over.
29:25
Speaker 4: It can change a bit, but it's always good because
29:28
Speaker 4: you think about for the month. Then you know the
29:29
Speaker 4: weekend's coming up that you've got you know, to go
29:32
Speaker 4: out to dinner or something on and then from there
29:35
Speaker 4: it's a big more one sorry or no, I'm loving this,
29:39
Speaker 4: and then from there I do weekly shots. But what
29:41
Speaker 4: I do is I shop online. I try and look
29:43
Speaker 4: at what the specials are on Monday as soon as
29:45
Speaker 4: I come out at five o'clock.
29:46
Speaker 2: Now I'm obsessed with you. I have heard of this
29:48
Speaker 2: before and the dedication Are you kidding?
29:52
Speaker 4: And then I obviously on the Wednesday morning when all
29:54
Speaker 4: the specials come out, I rego through if there's anything
29:57
Speaker 4: gone on sale.
29:58
Speaker 2: So you get both sales. She's a genist.
30:01
Speaker 4: I do a click and collect for like a Thursday Friday,
30:03
Speaker 4: and that will last us, yeah, through pretty much, and
30:06
Speaker 4: you possibly on the weekend we drop in and grab
30:08
Speaker 4: a blow for bread. But I find shopping online doing
30:12
Speaker 4: click and collect has saved us so much money because
30:15
Speaker 4: we don't go through the aisles and go, oh I
30:17
Speaker 4: want this, Oh maybe this will be good. It's just
30:19
Speaker 4: to me going, okay, this is our budget, this is
30:22
Speaker 4: what we're going to spend, and that's it.
30:24
Speaker 2: Oh sorry, gosh, I'm obsessed. You can't tell us all
30:27
Speaker 2: this and not tell us what you spend though. That's
30:29
Speaker 2: a bit rude. What do you spend on groceries?
30:33
Speaker 4: So we aim for every week to be under two
30:36
Speaker 4: hundred dollars.
30:37
Speaker 2: Under two hundred dollars. And you've got two kids, yes,
30:40
Speaker 2: oh my gosh, have you got any pets?
30:42
Speaker 4: We have one dog?
30:43
Speaker 2: And is that included in your weekly food truck? You've
30:46
Speaker 2: got two kids, a dog, a truck drive, a husband,
30:49
Speaker 2: and we all know they eat a lot yourself, and
30:51
Speaker 2: it's less than two hundred bucks a week.
30:52
Speaker 4: That is just no meat.
30:54
Speaker 2: That's still crazy. You and I both know that's crazy.
30:57
Speaker 2: Like I'm spending way more than that, and I just
31:00
Speaker 2: have one husband.
31:02
Speaker 4: At the moment. Maybe in a little bit when we're
31:04
Speaker 4: a bit more cash flow positive, but at the moment,
31:06
Speaker 4: I have a goal. This is what I want to do.
31:08
Speaker 4: This is all we can spend.
31:10
Speaker 2: I'm not a food prepper, so like I just I
31:14
Speaker 2: don't have the mental capacity. I think it is very
31:17
Speaker 2: adhd lead. I don't like having a meal plan where
31:20
Speaker 2: it says on Thursday you have to have tacos because
31:23
Speaker 2: the second I see that, I go, well, I don't
31:24
Speaker 2: want that and I want something different. So I am
31:27
Speaker 2: the worst when it comes to meal planning. But tell
31:30
Speaker 2: me how you pick your I guess recipes and is
31:34
Speaker 2: that something that you're like no, no, no, like we're
31:35
Speaker 2: fine with it, we don't mind. Or are they more
31:38
Speaker 2: complex like buy in bulk, you know, make curried sausages
31:42
Speaker 2: that last six weeks? Like what kind of meals are
31:45
Speaker 2: we making here?
31:46
Speaker 4: I currently own a Thermo Mix, which I think is amazing.
31:49
Speaker 4: I bought that at the start of my health Jenny
31:51
Speaker 4: that I had.
31:52
Speaker 2: Oh, of course you've had a good weight loss journey
31:54
Speaker 2: as well. In addition to everything else, she's just like
31:56
Speaker 2: this little queen glowing up her life.
32:01
Speaker 4: Oh thank you. So from there it's all kind of
32:04
Speaker 4: entwined because on my weight loss journey, I realized, you know,
32:08
Speaker 4: what's in jars and everything like that. So we make
32:11
Speaker 4: a lot of stuff from scratch. Yes, we still use
32:12
Speaker 4: jars for certain things, but no, I go through each
32:15
Speaker 4: day and like you know, we do a lot of
32:17
Speaker 4: rice and passa dishes, a lot of veggies, trying to
32:19
Speaker 4: get veggies into the kids. I am a part of
32:22
Speaker 4: it's called the Skinny Mixes, which is Thermo Mix, but
32:25
Speaker 4: it's healthy. So like the easy mac and cheese that
32:28
Speaker 4: are on there has four hidden vegetables in it, and
32:30
Speaker 4: the kids absolutely adore it.
32:32
Speaker 2: So cool. I would adore that too.
32:35
Speaker 4: It is really really good surprisingly, like you think, oh,
32:37
Speaker 4: it's got sweet potato, zichini, carrot and another vegetable that
32:42
Speaker 4: I can't think of, and you think, oh that's a
32:43
Speaker 4: bit weird, and Mac and Jo work it is so good.
32:45
Speaker 4: It works.
32:46
Speaker 2: Yeah, oh how good it is that?
32:48
Speaker 4: And I enjoy cooking as well, so I enjoy baking
32:51
Speaker 4: and whatnot. So that's something a pastime that I enjoy.
32:54
Speaker 2: So I love that it works for you. I wish
32:56
Speaker 2: I could be more like that. I just know with
32:58
Speaker 2: my habits that is so unobtainable, Like it just makes
33:03
Speaker 2: me envious. If I'm being honest, I want to know, now,
33:06
Speaker 2: what is your worst money habit?
33:09
Speaker 4: It's not groceries, no, No, My worst money habit is
33:12
Speaker 4: when I'm at work or when my husband is away,
33:16
Speaker 4: and I'll be you know, I haven't pulled out the
33:18
Speaker 4: food for dinner, so I know he's away. I will
33:21
Speaker 4: do uber eats or get takeaway. So that is something
33:25
Speaker 4: that I'm working on. I have a goal set this
33:27
Speaker 4: year or smart goal, so I've even got a little
33:29
Speaker 4: visual calendar that way I am going to tick off
33:31
Speaker 4: every day at work saying I didn't bring anything to lunch,
33:34
Speaker 4: I don't have leftovers, I'm going to have noodles. I'm
33:35
Speaker 4: not going to get takeaway. So I went through last
33:39
Speaker 4: year's you know statements for the year, and just seeing
33:42
Speaker 4: how much I spent for the year, I wasn't happy
33:44
Speaker 4: and I was like, no, I need to get this
33:45
Speaker 4: under control.
33:46
Speaker 2: So, yeah, is that something that you do every year,
33:50
Speaker 2: like go through all of your annual lives spending and go, well, actually,
33:54
Speaker 2: once I add it up, I'm not all that happy
33:56
Speaker 2: with that.
33:57
Speaker 4: Yes, I did it, not last year the year before
33:59
Speaker 4: with buy alcohol. So we did do a lot of
34:02
Speaker 4: renovations that year, so we bought a lot of trade's alcohol.
34:05
Speaker 4: But just seeing the amount there, I was like, oh, sorry.
34:08
Speaker 4: Then we focused last year of you know, and we
34:10
Speaker 4: cut it down by half, I think, which is really
34:12
Speaker 4: really good.
34:13
Speaker 2: I love looking at things on that bigger scale. It
34:17
Speaker 2: works really well for me because you know, here and there.
34:20
Speaker 2: Let's be honest, I think we can all justify a
34:22
Speaker 2: new Breats on a Friday night, Like it's so easy.
34:24
Speaker 2: You go, oh, it was forty bucks. Like at the
34:26
Speaker 2: end of the day, like it's fine, but when you
34:29
Speaker 2: extrapolate that out and go, oh, actually, that habit's costing
34:32
Speaker 2: me a lot of money, And I didn't really realize
34:36
Speaker 2: it'd be also powerful to be able to step back
34:38
Speaker 2: and go, no, I'm going to change that, and you
34:40
Speaker 2: can actually see the tangible change, Like it's just it's
34:44
Speaker 2: so helpful. So I feel like your worst money habit
34:47
Speaker 2: is actually going to become a pretty good one because
34:49
Speaker 2: you're so aware of it. Money Darist, I'm genuinely so impressed,
34:53
Speaker 2: Like you have, you know, so much tenacity, but also
34:58
Speaker 2: just such a plan to go from being in you know,
35:01
Speaker 2: thirty plus thousand dollars worth of consumer debt to owning
35:04
Speaker 2: three properties and talking about another one, and you know
35:06
Speaker 2: you've gone on this massive finance journey. You're a mortgage broker,
35:10
Speaker 2: but now you're becoming a financial advisor. And I'm just
35:13
Speaker 2: genuinely like what the hecking? Like this woman doesn't just
35:17
Speaker 2: have it all together financially, she's also doing like meat
35:20
Speaker 2: shops every four to six months and really getting it,
35:22
Speaker 2: Like who is that organized with two small children? But
35:26
Speaker 2: then they also think they're only a B plus. So
35:29
Speaker 2: let's have a look at this probably will have to
35:32
Speaker 2: argue with you here. I do apologize, But do you
35:35
Speaker 2: really think that you're still a B plus when all
35:37
Speaker 2: of that gets laid out on the table.
35:40
Speaker 4: I just know I still have a way to go.
35:42
Speaker 4: Like I do understand. I know the car loan. I
35:44
Speaker 4: think that's my biggest thing that's holding me back. Once
35:46
Speaker 4: that's paid off, That's why I'm so aggressive, like aggressively it.
35:50
Speaker 4: Once that's paid off, I think I'll feel a lot better.
35:52
Speaker 4: I'll be a lot more free. Sorry, because I don't
35:56
Speaker 4: like consumer debt, and you know the way that it worked.
35:58
Speaker 4: It worked for us, but I'm like, just get rid
36:00
Speaker 4: of it.
36:00
Speaker 2: Now, fair. So what would it take to get you
36:03
Speaker 2: to that AA plus just being consumer debt free? Or
36:08
Speaker 2: is there anything else that you're like, No, I'd really
36:10
Speaker 2: want to do XYZ Like I feel like so many
36:12
Speaker 2: of us have our own ideas of what an A
36:15
Speaker 2: actually looks like because there's no real definition, right, it's
36:17
Speaker 2: just how we feel about it.
36:19
Speaker 4: I think what the carline is paid off, I think
36:21
Speaker 4: I would be happy to move to an A maybe
36:24
Speaker 4: A minus mate.
36:25
Speaker 2: And that's easy because you're going to smash it out
36:27
Speaker 2: by September. How good is that all right? Money dice. Unfortunately,
36:32
Speaker 2: that is all we have time for today. But I
36:34
Speaker 2: have adored this. This has been such a fun conversation
36:37
Speaker 2: but also a conversation where I'm like, what the heck
36:40
Speaker 2: how does she do this? And it just proves you
36:42
Speaker 2: don't have to earn millions to be a multiple property owner.
36:47
Speaker 2: It's so exciting meeting somebody who's like, no, no, no, we
36:50
Speaker 2: have a pretty standard income. Like you know, at some
36:53
Speaker 2: point I love to crack six figures, and you know,
36:55
Speaker 2: have a two hundred thousand dollar household income. But even
36:58
Speaker 2: without that, you still have properties and they're all really
37:02
Speaker 2: yielding well and they're working well, and over your wealth journey,
37:05
Speaker 2: I just know you're gonna smash it. Like it just
37:07
Speaker 2: makes me so excited. So congratulations, but also thank you
37:12
Speaker 2: for sharing that with my community. I think they're gonna
37:14
Speaker 2: love it.
37:15
Speaker 4: Thank you so much for the opportunity I've been It's
37:17
Speaker 4: been amazing being on with you.
37:18
Speaker 2: Oh my gosh, No, of course, thank you so much.
37:28
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37:31
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37:34
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