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How One Mum Turned a Job Loss Into a Multi-Million Dollar Comeback · She's On The Money

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  Speaker 1: My name's Tatasha Bamblet. I'm a proud First Nations woman
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  Speaker 1: and I'm here to acknowledge country te glennyan Ganya, Niana,
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  Speaker 1: Kaka yah y and Binahwaka Nian our gay In Mbini,
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  Speaker 1: yakarum Jar, dominyamiga Umaga, Ihowaka, Nile, Waman damon imlan, wimabang
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  Speaker 1: gadabomba in and now in waka ghana on yak rum
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  Speaker 1: Jar Watanadaa. Hello, beautiful friends, we gather on the lands
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  Speaker 1: of the Aboriginal people. We thank acknowledge and respect the
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  Speaker 1: Aberiginal people's land that we're gathering on today. Take pleasure
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  Speaker 1: in all the land and respect all that you see.
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  Speaker 1: She's on the Money podcast acknowledges culture, country, community and connections,
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  Speaker 1: bringing you the tools, knowledge and resources for you to thrive.
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  Speaker 2: She's on the Money.
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  Speaker 3: She's on the Money. Hello, and welcome to She's on
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  Speaker 3: the Money, the podcast that lets you be per They
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  Speaker 3: about other people's money habits for educational purposes, of course,
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  Speaker 3: Welcome back to another one of our Money Diaries episodes
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  Speaker 3: where we get to talk with one of our incredible
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  Speaker 3: She's on the Money community members all about their journey
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  Speaker 3: and this time business. Let's jump straight into it, because
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  Speaker 3: this week I got an email and it sounded exactly
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  Speaker 3: like this, dear, She's on the money. In twenty eighteen,
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  Speaker 3: my world shifted overnight. My corporate management role was gone,
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  Speaker 3: along with the security of a six figure salary. I
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  Speaker 3: was so stressed and overwhelmed by the uncertainty. But this
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  Speaker 3: was the perfect opportunity to launch a business idea that
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  Speaker 3: I'd been sitting on for a while. What began as
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  Speaker 3: a one woman operation in a granny flat quickly evolved
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  Speaker 3: into something much bigger, and I'd love to share the
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  Speaker 3: story with you. Money diarist, Welcome to the show.
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  Speaker 2: Hi, how are you lovely to be here today?
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  Speaker 3: Oh my goodness? Sorry? Just a one woman operation working
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  Speaker 3: out of a granny flat. Was that because you lived there?
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  Speaker 3: Or was that your office?
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  Speaker 2: Na? So I had a granny flat built at the
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  Speaker 2: side of my house for my mum when she came
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  Speaker 2: to stay with us. Yeah, but she hated it. She
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  Speaker 2: hated it. She refused to stay in there. So we
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  Speaker 2: had this incredible little space and.
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  Speaker 3: She was like, granny flat, No, I'm sleeping in your bed.
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  Speaker 2: Yeah. No, she wanted to be in the house with
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  Speaker 2: the kids and the family and being in the thicker
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  Speaker 2: family life, which is beautiful in itself, but it.
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  Speaker 3: Also sometimes we need some space. Mum, what's that about?
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  Speaker 2: Yeah? And then I just thought it would be the
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  Speaker 2: perfect space to launch the next step of my career.
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  Speaker 2: Perfect and you're dead right. I was in this place
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  Speaker 2: of complete uncertainty. I'd lost my job overnight. I was like,
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  Speaker 2: what am I going to do? I had two young kids.
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  Speaker 3: That just adds to the stress.
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  Speaker 2: I really didn't want to go back to traveling for work,
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  Speaker 2: and so I was like, it's now or never. Let's
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  Speaker 2: do this. Now's the time. So the granny flat was
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  Speaker 2: a perfect place to start the business. I needed to
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  Speaker 2: separate work and home, and that's where the business was born.
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  Speaker 3: I'm obsessed. So let's go back a little bit. I
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  Speaker 3: want to know before we get into asking about your
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  Speaker 3: money story and how that came to be. What grade
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  Speaker 3: would you give your money habits from A through to F.
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  Speaker 3: If I asked you to give them a grade.
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  Speaker 2: I'd say an as, Oh, okay, let's go, let's improve. No,
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  Speaker 2: I love it.
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  Speaker 3: I'm also like, why not a plus? We've got questions,
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  Speaker 3: but money durist let's rewind. Tell me a little bit
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  Speaker 3: more about your money story.
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  Speaker 2: So, I think the money story for me started at
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  Speaker 2: quite a young age. I've been brought up in a
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  Speaker 2: family where both my parents were highly educated, a big
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  Speaker 2: focus on education for myself, and I always saw mum
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  Speaker 2: and dad being very astute with how they spent their money.
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  Speaker 2: You know, they saved well, and those habits formed in
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  Speaker 2: me at quite a young age. In saying that, though
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  Speaker 2: they never let me work until I was eighteen, my
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  Speaker 2: focus was on education up until I was eighteen, they
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  Speaker 2: made sure that school and education was the primary investment
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  Speaker 2: of my time. Then when I turned eighteen, I was
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  Speaker 2: studying and I worked three jobs.
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  Speaker 3: Three You went, I've got to make lost time here,
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  Speaker 3: I did.
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  Speaker 2: I did. You're exactly right, I had to make up
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  Speaker 2: for lost time, and I diligently saved for my first house,
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  Speaker 2: which I purchased at nineteen.
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  Speaker 3: Sorry, what you weren't allowed to work until you were eighteen?
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  Speaker 3: I feel like I'm saying that in a way where
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  Speaker 3: you were, like, I don't know, deprived, But I have
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  Speaker 3: a sneaky suspicion it was more because your parents really
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  Speaker 3: wanted you to like just focus on education.
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  Speaker 2: Is that right? Like?
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  Speaker 3: Or was that attention point.
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  Speaker 2: Not one hundred percent? Okay, Mum and Dad's focus for
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  Speaker 2: me was to make sure that I made the most
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  Speaker 2: of my education, that I didn't have any distractions. Yeah,
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  Speaker 2: I was very involved in sport as well, so my
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  Speaker 2: downtime to work was limited. But they really wanted to
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  Speaker 2: make sure that my focus was on my education so
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  Speaker 2: I could then leap frog, I guess, into a really
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  Speaker 2: good career. And I'm extremely grateful for them setting those
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  Speaker 2: boundaries with me at a young age, but also learning
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  Speaker 2: from them.
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  Speaker 3: Yeah, I love that. That's such a privilege because so
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  Speaker 3: many kids are like, oh, I'm fourteen nine months got
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  Speaker 3: to get my first job and manage all of that,
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  Speaker 3: Like how good?
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  Speaker 2: And don't get me wrong, I still had jobs that
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  Speaker 2: I had to do at home, like I still had
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  Speaker 2: to contribute.
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  Speaker 3: To I'm getting the vibe that your parents were pretty
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  Speaker 3: switched on in terms of like teaching you about responsibility
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  Speaker 3: and you know, being astute with money and focusing on
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  Speaker 3: fine the way that you've been talking about this, I'm like, Okay,
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  Speaker 3: I kind of picking up the vibes, and I think
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  Speaker 3: everyone else is. I just really wanted to clarify it them,
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  Speaker 3: Like when you said you weren't allowed, it wasn't like
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  Speaker 3: some financial abuse situation where you're not allowed to job.
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  Speaker 3: It was more a supportive situation, And I just want
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  Speaker 3: to be really clear about that.
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  Speaker 2: Yeah, definitely not, definitely not. Their focus was always on education,
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  Speaker 2: and I'm very grateful that they gave me that opportunity
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  Speaker 2: to dial in to my studies. And that's a habit
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  Speaker 2: that I'm still to this day, further in my education,
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  Speaker 2: still in my forties. It's a big part of my life.
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  Speaker 3: I've got a lot of questions about you buying your
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  Speaker 3: first home at nineteen, but I want to pick up
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  Speaker 3: on something that you said just before before I get there,
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  Speaker 3: because I'm like chomping at the bit to ask about that.
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  Speaker 3: But if you were, you know, not allowed to work
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  Speaker 3: or like your parents were like, you need to focus
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  Speaker 3: on education, but all your friends had probably some pocket
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  Speaker 3: money or disposable income, what did that look like? Because
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  Speaker 3: I remember, you know, using my income for the things
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  Speaker 3: that I wanted to do and go to the movies,
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  Speaker 3: or you know, buy another roxy pencil case from the
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  Speaker 3: surf shop, Like, what did that look like? Was there
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  Speaker 3: any like I don't know, envy of your friends who
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  Speaker 3: had disposable income.
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  Speaker 2: Or definitely not. Mum and Dad were very generous. I
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  Speaker 2: must say that too. They were very generous, but that
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  Speaker 2: didn't also avoid me from the responsibilities of my jobs
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  Speaker 2: that I had to undertake at home. So there were
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  Speaker 2: still roles and responsibilities that I had to fulfill as
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  Speaker 2: being part of the family unit. And that's where I
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  Speaker 2: guess the fruits of having a little bit of cash
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  Speaker 2: on the weekend came from. But yeah, I was very lucky.
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  Speaker 2: They were definitely very generous. I never felt like I
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  Speaker 2: missed out on being able to do things that my
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  Speaker 2: friends were doing. Yes, my friends definitely did have more
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  Speaker 2: resources available to them in terms of surplus surplus money,
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  Speaker 2: but I never felt like I missed out.
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  Speaker 3: Yeah good. I was like, what did that feel like?
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  Speaker 3: Because I mean, I'm now and everybody knows that, but
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  Speaker 3: I'm like, oh, hold on, I haven't even thought about
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  Speaker 3: Harvey getting his first job?
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  Speaker 2: Do I want that?
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  Speaker 3: Do I want him to be?
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  Speaker 2: Like?
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  Speaker 3: How do I want this to figure out? So it's
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  Speaker 3: just nice asking those questions. But now we get to
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  Speaker 3: leap frog to you being eighteen, what was your first
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  Speaker 3: job of three.
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  Speaker 2: Yeah, my first job was a waitress. I think probably
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  Speaker 2: the right of passage for a lot of people.
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  Speaker 3: Yeap.
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  Speaker 2: So I worked as a waitress, and then I also
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  Speaker 2: worked in a club, in a local club. I got
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  Speaker 2: my responsible service of alcohol and poured beers in a club,
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  Speaker 2: and I think those skills definitely gave me the ability
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  Speaker 2: of how to communicate with people absolutely and how to
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  Speaker 2: provide exceptional customer service. I think that was founded in
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  Speaker 2: me very very young. And then I got my first
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  Speaker 2: job as a trainee receptionist as well at eighteen. So
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  Speaker 2: I worked those three jobs and squirreled away every single
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  Speaker 2: cent that I could during that time. So I could
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  Speaker 2: say it's per house.
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  Speaker 3: Where did that work ethic come from? Because you know,
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  Speaker 3: you haven't been able to work for long and then
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  Speaker 3: you get your first job, and I would assume that
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  Speaker 3: a lot of people in that situation would be like,
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  Speaker 3: oh my goodness, the first time I've got access to
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  Speaker 3: essentially disposable cash. Like, can I also be really pervy?
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  Speaker 3: Were you still living at home at that point?
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  Speaker 2: I was. I was still living at home Mum and
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  Speaker 2: Dad as soon as I turned to eighteen, and I
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  Speaker 2: guess they'd got that year twelve over with for me.
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  Speaker 2: My dad took a job overseas, so mum and dad
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  Speaker 2: moved over seas.
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  Speaker 3: They're breathing a sigh of relief. They're like, she's done
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  Speaker 3: with year twelve. Money win, life win, and they moved overseas.
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  Speaker 2: So they gave me what was the family home. Again,
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  Speaker 2: that came with responsibility, so I had to learn really
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  Speaker 2: quickly how to take care of a yard, mow the lawns,
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  Speaker 2: make sure you know, I had enough money for food
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  Speaker 2: and the house was clean like it definitely taught me
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  Speaker 2: a lot.
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  Speaker 3: You kind of quote moved out on your own but
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  Speaker 3: not yeah, And I.
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  Speaker 2: Used that twelve months to really become an adult, to
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  Speaker 2: learn how to stand on my own two feet. And
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  Speaker 2: my goal was to buy my own house. I knew
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  Speaker 2: that they'd be away for a couple of years, so
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  Speaker 2: I wanted my own place when they got back. And
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  Speaker 2: I achieved that.
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  Speaker 3: That work ethic because I think a lot of eighteen
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  Speaker 3: year olds would have been like, first job, waitress, going
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  Speaker 3: to the club, I'm going to spend my money on
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  Speaker 3: beers and drinks like that. You would you just have
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  Speaker 3: your head screwed on, Like I just feel like you've
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  Speaker 3: got yourself set up. So how much were you able
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  Speaker 3: to save in that first twelve months? Because you already
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  Speaker 3: told us I bought my first home at nineteen gol,
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  Speaker 3: first job at eighteen, house at nineteen Yeah.
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  Speaker 2: Wow, I will preface that too. Mum and Dad obviously
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  Speaker 2: helped me towards getting into my first home. They made
• 9:35
  Speaker 2: some really smart money choices when I was born and
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  Speaker 2: they put some money into an endowment fund let's call
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  Speaker 2: it when I was fourth mom, which they gave to
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  Speaker 2: me when they knew that I was going to purchase
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  Speaker 2: my first home. So I got ten thousand dollars from
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  Speaker 2: them when I got into my first home, and I
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  Speaker 2: saved the other thirty thousand on my own.
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  Speaker 3: Okay, so ten k from mom and dad and then
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  Speaker 3: thirty k on your own that you saved entry level
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  Speaker 3: in twelve months. Yeap, post tacks. That is incredible. I
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  Speaker 3: love that. So forty thousand dollars deposit? What kind of
• 10:07
  Speaker 3: house are we buying with that? I know that I'm
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  Speaker 3: jumping ahead, but like, girl, this is cool.
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  Speaker 2: So I bought on the outskirts of Canbra. So I
• 10:13
  Speaker 2: was born and raised in Canbra. So I obviously couldn't
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  Speaker 2: afford anything too wild, but a three bedroom, single bathroom
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  Speaker 2: home in one of the outer suburbs of Canbra. And yeah,
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  Speaker 2: I purchased that home for two hundred and sixty four
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  Speaker 2: thousand dollars.
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  Speaker 3: And I have to be real pervy. I know that
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  Speaker 3: you're forty four. Now what year did you purchase that
• 10:34
  Speaker 3: first home in? Because I feel like the tides up
• 10:36
  Speaker 3: had changed.
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  Speaker 2: Yeah, so that was two thousand and one.
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  Speaker 3: I would like to go back there. I would very
• 10:41
  Speaker 3: happily give you that amount of money for a three
• 10:44
  Speaker 3: bedroom home. That would be very nice. If you ever
• 10:46
  Speaker 3: want to sell that to me for what you purchased
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  Speaker 3: it for, you just hit me up.
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  Speaker 2: Yeah, definitely, you and me both. I'd buy that house
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  Speaker 2: back in a second. Now.
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  Speaker 3: Yeah, I know, right, first home at nineteen. What happened
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  Speaker 3: after nineteen? Did you move in? Did you rent it out?
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  Speaker 2: Like?
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  Speaker 3: What's the journey?
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  Speaker 2: Yeah? Worked really really hard. So after that short period
• 11:03
  Speaker 2: of time, I then decided to get back into education.
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  Speaker 2: So that twelve months was just working saving with the
• 11:09
  Speaker 2: goal to buy my own home. Then after that slow
• 11:14
  Speaker 2: career progression in terms of just slowly started climbing the ladder,
• 11:17
  Speaker 2: so I went from a trainee receptionist into an admin
• 11:20
  Speaker 2: assistant role. During that time, I was studying, so I
• 11:24
  Speaker 2: was undertaking my diploma of accounting at that time after hours,
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  Speaker 2: So three nights a week I'd go to a local
• 11:32
  Speaker 2: business college to do my diploma of accounting. That took
• 11:36
  Speaker 2: me just over eighteen months to finish that off. And again,
• 11:39
  Speaker 2: all in the background, I'm building my skills, building my
• 11:43
  Speaker 2: abilities in and around work, and getting lots of really
• 11:46
  Speaker 2: good work experience. And you know, I chopped and changed
• 11:48
  Speaker 2: a few jobs during that time and finally sort of
• 11:52
  Speaker 2: worked my way up into lower level management by my
• 11:56
  Speaker 2: mid twenties, probably twenty five twenty six, got my first officeanrole,
• 12:01
  Speaker 2: which I loved in the building and construction sector, and
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  Speaker 2: I sort of sat in the building a construction sector
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  Speaker 2: for the next five to six years.
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  Speaker 3: Yeah, okay, And what kind of salary are we looking at?
• 12:12
  Speaker 2: Like?
• 12:12
  Speaker 3: Are we looking at like as an office manager? I
• 12:14
  Speaker 3: feel like sometimes that could be really entry level, but
• 12:17
  Speaker 3: it sounds like you worked your way up to getting
• 12:19
  Speaker 3: into a good office manager role and then when you
• 12:21
  Speaker 3: lay it on construction, I was like, oh, they pay
• 12:23
  Speaker 3: pretty well, So like, what are we talking?
• 12:25
  Speaker 2: So I think at around twenty five or twenty six.
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  Speaker 2: I can't remember exactly, but I think I was sitting
• 12:30
  Speaker 2: somewhere around the sixty five k per adam.
• 12:33
  Speaker 3: And that's pretty good because that's back what two thousand
• 12:35
  Speaker 3: and seven, two thousand and eight.
• 12:37
  Speaker 2: Yeah, two thousand and seven, two thousand and eight.
• 12:39
  Speaker 3: Around that time, I'm just trying to do my maths.
• 12:42
  Speaker 3: As you're telling your story, I'm like always fact checking.
• 12:44
  Speaker 3: I'm always like, yeah, okay, and then what okay, and
• 12:46
  Speaker 3: then what Yeah.
• 12:48
  Speaker 2: So I mean it was, you know, I definitely was
• 12:51
  Speaker 2: living comfortably, but there was a period of time before that,
• 12:54
  Speaker 2: like you mentioned before, with you know, all of my friends,
• 12:57
  Speaker 2: you know, having access to cash. When I first bought
• 13:00
  Speaker 2: that house, I remember some weeks I would have, you know,
• 13:04
  Speaker 2: forty dollars left in the bank by the end of
• 13:06
  Speaker 2: the week, by the time I'd put petrol in my car,
• 13:08
  Speaker 2: I did my groceries, paid the bills, paid the mortgage,
• 13:11
  Speaker 2: squirreled the money away for regio and insurance. Like, there
• 13:14
  Speaker 2: were some weeks that I was like, wow, I don't
• 13:16
  Speaker 2: have much left, you know, in the bank at the
• 13:19
  Speaker 2: end of this. But I also knew that I was
• 13:20
  Speaker 2: sitting on an asset that at some point that would
• 13:23
  Speaker 2: pay off, and it most certainly did.
• 13:25
  Speaker 3: Yeah, And that's like the compromise you make. It doesn't
• 13:26
  Speaker 3: feel incredible at the time because you're like, oh, hey, Emma,
• 13:30
  Speaker 3: what are you doing today? And then Emma says, oh,
• 13:33
  Speaker 3: I'm going out for drinks with the girls, and you
• 13:34
  Speaker 3: go have fun like it's just it's not great, But
• 13:40
  Speaker 3: you also need to zoom out and be like, oh,
• 13:41
  Speaker 3: bigger picture, I'm doing pretty all right here. But in
• 13:44
  Speaker 3: the moment, it can feel like you're really missing out.
• 13:46
  Speaker 2: Yeah, it does. And I guess I got back into
• 13:49
  Speaker 2: my enjoying life and I guess a bit of a
• 13:52
  Speaker 2: party girl phase in those mid twenties when I had
• 13:55
  Speaker 2: a bit more disposable income available to me. I think
• 13:58
  Speaker 2: I made up for a bit of lost time during
• 13:59
  Speaker 2: that period of time and definitely enjoyed life a bit more.
• 14:03
  Speaker 3: Oh good girl. I was about to say, like, I
• 14:05
  Speaker 3: won't call you highly strong, but you're clearly highly motivated.
• 14:08
  Speaker 3: Has there been room for fun in this budget and
• 14:11
  Speaker 3: in this journey? Because it's sorry, three jobs eighteen, working
• 14:15
  Speaker 3: your butt off, saving a heap, buying it nineteen. Yes,
• 14:18
  Speaker 3: you were like, oh, thanks, Mum and Dad helped, but
• 14:20
  Speaker 3: they did only give you twenty five percent of your
• 14:22
  Speaker 3: and not only like a bloody privilege, but like twenty
• 14:25
  Speaker 3: five percent of your deposit. Had you saved for a
• 14:27
  Speaker 3: little bit longer, you would have been able to do
• 14:28
  Speaker 3: it all in your own fantastic I would say that
• 14:30
  Speaker 3: your parents aren't the reason you got into your first
• 14:32
  Speaker 3: home in general, but that's a lot. And then you're
• 14:36
  Speaker 3: working your butt off. You're in this like boogie office
• 14:38
  Speaker 3: management role. I'm like, hellou So, yeah, I had a
• 14:40
  Speaker 3: lot more fun in my twenties and I regret some
• 14:43
  Speaker 3: of these things, but also where's the fun, bab?
• 14:46
  Speaker 2: Yeah? No, there was definitely fun in those mid to
• 14:50
  Speaker 2: late twenties. There was a lot of good times that
• 14:53
  Speaker 2: we had then, and I think I made up for it,
• 14:55
  Speaker 2: and I'm really glad I had that period of my
• 14:57
  Speaker 2: life too. I think a bit more financially secure you are,
• 15:00
  Speaker 2: had a career. There's definitely been fun, and there's still
• 15:03
  Speaker 2: fun now to this day, even though you know the
• 15:06
  Speaker 2: situation is much different today. Still make sure that I
• 15:09
  Speaker 2: have fun.
• 15:09
  Speaker 3: Okay, So then let's zoom forward. Your twenty six office
• 15:14
  Speaker 3: manager role, sixty five grand it's two thousand and seven.
• 15:17
  Speaker 3: When did you move into this like corporate management role
• 15:20
  Speaker 3: where you were earning six figures?
• 15:22
  Speaker 2: That happened in my late twenties, So around twenty nine
• 15:26
  Speaker 2: thirty I landed a very high flying corporate role. I
• 15:31
  Speaker 2: was a national revenue manager for a very large multinational
• 15:34
  Speaker 2: corporation and I worked there for a couple of years
• 15:38
  Speaker 2: until I fell pregnant with my first child. And there
• 15:42
  Speaker 2: was travel involved with that role.
• 15:44
  Speaker 3: Oh, very cool as.
• 15:45
  Speaker 2: Significant travel, and that's where I started earning some really
• 15:49
  Speaker 2: big dollars during that period of time.
• 15:50
  Speaker 3: What's really big dollars mean?
• 15:52
  Speaker 2: I doubled my income at that point, so I was
• 15:54
  Speaker 2: around one hundred and.
• 15:55
  Speaker 3: Twenty yeah, wow, and that is especially in now I'm
• 15:58
  Speaker 3: keeping trag and and ten a lot of money, So
• 16:02
  Speaker 3: one twenty k, bougie, What do you mean travel? So
• 16:05
  Speaker 3: you like going around the country, around the world, or.
• 16:08
  Speaker 2: Around the country working on a large government contract even
• 16:12
  Speaker 2: though was a private private company, but working on a
• 16:14
  Speaker 2: large government contract doing a lot of travel during that
• 16:16
  Speaker 2: period of time.
• 16:18
  Speaker 3: How cool?
• 16:18
  Speaker 2: Yeah? It was great, really great experience. Skills that I've
• 16:21
  Speaker 2: learned from that job I carried through with me today.
• 16:24
  Speaker 3: Love and so I've just heard the journey from basically
• 16:27
  Speaker 3: eighteen to twenty nine thirty. Can I ask about your
• 16:31
  Speaker 3: personal life? You said you had your first kid. Have
• 16:32
  Speaker 3: we met like the love of our life during that time?
• 16:35
  Speaker 3: Like it takes two to tan go to make a baby,
• 16:37
  Speaker 3: So how where's that person coming?
• 16:39
  Speaker 2: So I actually met my husband when I was fourteen.
• 16:41
  Speaker 3: No stop, but this is so cute.
• 16:43
  Speaker 2: Yeah, so we've we first met when I was fourteen,
• 16:46
  Speaker 2: he was sixteen.
• 16:47
  Speaker 3: Oh that's a big age gap. Back then, it was
• 16:49
  Speaker 3: it was and you know.
• 16:51
  Speaker 2: We were in and out of each other's lives, you know,
• 16:54
  Speaker 2: up until I was about eighteen. And then we don't
• 16:58
  Speaker 2: live in the same town, we didn't live in the
• 16:59
  Speaker 2: same time. And then when Facebook became a thing, we
• 17:04
  Speaker 2: reconnected and yeah, the rest is history. So reconnected. We're
• 17:10
  Speaker 2: together for about twelve months, engaged, married in twenty eleven.
• 17:13
  Speaker 2: Our daughter came twenty fourteen.
• 17:15
  Speaker 3: Oh my goodness. So you've been working at this like
• 17:17
  Speaker 3: national rev manager role for a few years and then
• 17:20
  Speaker 3: ended up pregnant. That is so special. You talked me
• 17:24
  Speaker 3: through that change that you would have gone through because
• 17:28
  Speaker 3: going from sorry, the national revenue manager of a multinational
• 17:31
  Speaker 3: corporation to pregnant and planning maternity leave. Fantastic, but also
• 17:36
  Speaker 3: can feel really jarring. That's a change of pace.
• 17:39
  Speaker 2: It was, It very much was, and I went back
• 17:42
  Speaker 2: to that role after my daughter was born and loved it,
• 17:45
  Speaker 2: but it was definitely challenging being a first time mum,
• 17:49
  Speaker 2: with the travel, with all of it. I went back
• 17:51
  Speaker 2: to work when our daughter was six months old, and
• 17:55
  Speaker 2: it was a very very challenging period of time for sure,
• 17:58
  Speaker 2: you know, trying to operate in a role like that
• 18:01
  Speaker 2: on next to no sleep, pumping you know, in the
• 18:05
  Speaker 2: bathrooms in my break like it was. It was challenging,
• 18:09
  Speaker 2: but I loved it. I was still very lit up
• 18:11
  Speaker 2: by my role. But there did come a time where
• 18:14
  Speaker 2: I decided I couldn't continue on at that pace. And
• 18:18
  Speaker 2: an old boss of mine had reached out and asked
• 18:21
  Speaker 2: me if i'd come back to work for him, and yeah,
• 18:24
  Speaker 2: set me up with my own office, which stopped the travel,
• 18:27
  Speaker 2: and I did that for another couple of years until
• 18:30
  Speaker 2: that flipped on its head. Yeah.
• 18:31
  Speaker 3: Wow, so dought it in twenty fourteen. And then you
• 18:35
  Speaker 3: went into this next role with your old boss that
• 18:37
  Speaker 3: hit you up. When did you have your second baby.
• 18:40
  Speaker 2: I had my son in twenty sixteen.
• 18:41
  Speaker 3: Yeah, two years later. That's a good age gap.
• 18:44
  Speaker 2: Yeah. Yeah, so he came along in twenty sixteen, and
• 18:49
  Speaker 2: I definitely felt everybody says, you know when you have
• 18:52
  Speaker 2: two children, because the jump from one to two feels
• 18:54
  Speaker 2: like one to ten. And that's definitely how my life felt.
• 18:58
  Speaker 3: I really, so I should be good for the future. Okay,
• 19:01
  Speaker 3: all right, I'm just prepping myself as someone who wants
• 19:04
  Speaker 3: babies always.
• 19:05
  Speaker 2: Well, it was a significant shift having two young children
• 19:11
  Speaker 2: still working at a in a very senior role within
• 19:15
  Speaker 2: an organization, all of the pressures that came came with
• 19:18
  Speaker 2: that role. Thankfully, having that flexibility was really important. Like
• 19:22
  Speaker 2: I could work at whatever time during the day in
• 19:25
  Speaker 2: and around the kids, which was great. I'd often work
• 19:27
  Speaker 2: late of a night to find that balance, which was awesome.
• 19:31
  Speaker 2: But having the two kids and balancing a job like
• 19:34
  Speaker 2: that definitely was a challenge for us and as a family. Yeah.
• 19:38
  Speaker 3: And so when you took this new role, was it
• 19:40
  Speaker 3: because it obviously gave you flexibility, You're like, I can't
• 19:43
  Speaker 3: travel anymore, but where their salary benefits as well? Or
• 19:46
  Speaker 3: were you like, no, I'll be on about the same.
• 19:48
  Speaker 3: It was funny earning more. You should see her face.
• 19:50
  Speaker 2: It's funny when when when my old boss contacted me
• 19:54
  Speaker 2: and was like, I'd love you to come back and
• 19:56
  Speaker 2: work with me. I remember saying to him, you can't
• 19:58
  Speaker 2: afford me anymore. Like we had a really good relationship.
• 20:02
  Speaker 3: Sorry, I've had a little bit of a finance glower. Yeah,
• 20:04
  Speaker 3: we had this.
• 20:05
  Speaker 2: Really great friendship. And he was like, how do you
• 20:08
  Speaker 2: know I can't afford you anymore? And I was like,
• 20:09
  Speaker 2: because you can't. I know you can't.
• 20:11
  Speaker 3: I'm sorry, I'm not trying to be rude, but yeah,
• 20:14
  Speaker 3: And he was.
• 20:15
  Speaker 2: So proud of me that I had worked by way
• 20:21
  Speaker 2: up to a salary like that. I remember him saying,
• 20:23
  Speaker 2: because I'm so proud of you, Like that's what you've achieved.
• 20:26
  Speaker 2: You should be very proud of He met me at
• 20:29
  Speaker 2: the salary I was on. I didn't get an increase,
• 20:30
  Speaker 2: but he met me at salary level. But I was
• 20:34
  Speaker 2: saving a lot of money. The travel, oh.
• 20:36
  Speaker 3: Yeah, absolutely, and the mental load and the time, just.
• 20:39
  Speaker 2: The time and just that flexibility of being able to
• 20:42
  Speaker 2: be more present with my kids. I couldn't put a
• 20:45
  Speaker 2: dollar value on that at the time.
• 20:47
  Speaker 3: Yeah, it was so good. I love that for you.
• 20:49
  Speaker 3: But you also said I had that job until it
• 20:52
  Speaker 3: flipped on its head, So tell me about that.
• 20:55
  Speaker 2: So it literally all came crashing down overnight at his
• 21:01
  Speaker 2: empire of companies. I can't delf too much into what
• 21:05
  Speaker 2: happened there.
• 21:05
  Speaker 3: But no, but it wasn't like you came to work
• 21:07
  Speaker 3: one day and he was like, money Durist, I don't
• 21:10
  Speaker 3: even like you anymore. You're fired. It wasn't that.
• 21:12
  Speaker 2: It was like, definitely not, definitely not. It was a
• 21:14
  Speaker 2: lot more complex than that.
• 21:15
  Speaker 3: Businesses went bankrupt or something like that.
• 21:18
  Speaker 2: Yeah, it was definitely a lot more complex than that
• 21:20
  Speaker 2: very sad set of events that transpired there. Thankfully none
• 21:24
  Speaker 2: of them were due to financial mismanagement or anything like that.
• 21:28
  Speaker 2: It was a very stutie businessman just made some poor decisions.
• 21:32
  Speaker 3: So I'm going to ask you about that offline.
• 21:35
  Speaker 2: Yeah, yeah, you can ask me onfline. For sure.
• 21:37
  Speaker 3: You're going to be like, give me the tea, Give
• 21:39
  Speaker 3: me the tea, because as us do you see? And
• 21:41
  Speaker 3: you know what I love. I love gossip that doesn't
• 21:43
  Speaker 3: involve me. Anybody I know don't want to know. But
• 21:47
  Speaker 3: some men that I've never met, I need to know
• 21:49
  Speaker 3: his goss.
• 21:50
  Speaker 2: It was actually a really really difficult period of my life,
• 21:53
  Speaker 2: but also really enlightening because it pushed me. It gave
• 21:57
  Speaker 2: me that big push to go right. It's now will never.
• 22:00
  Speaker 2: You've now got the perfect opportunity to start your own business.
• 22:03
  Speaker 2: Are you game enough to do it?
• 22:05
  Speaker 3: How old were your kids when you made the decision
• 22:07
  Speaker 3: to start your own business?
• 22:08
  Speaker 2: So that was in twenty eighteen, So my daughter was
• 22:12
  Speaker 2: four and my son was two.
• 22:14
  Speaker 3: Oh my goodness. So you don't even have kids that
• 22:16
  Speaker 3: are in school and you've got all this extra time
• 22:18
  Speaker 3: and you basically still in toddler and kindermode.
• 22:21
  Speaker 2: Yep, definitely, definitely, they're both in daycare.
• 22:24
  Speaker 3: It's crazy. I love.
• 22:25
  Speaker 2: It gave me some flexibility, which was really nice. Yeah,
• 22:28
  Speaker 2: it was definitely a wonderfully challenging period of time.
• 22:32
  Speaker 3: So what's it like to build your very first and
• 22:35
  Speaker 3: very own business like twenty eighteen? Tell me about that.
• 22:38
  Speaker 2: I remember waking up a couple of days after, you know,
• 22:43
  Speaker 2: my WORL came crushing down with my previous job, and
• 22:45
  Speaker 2: I remember saying to my husband, I was like, will
• 22:48
  Speaker 2: you back me if I go out on my own?
• 22:50
  Speaker 3: If you said no, grounds for divorce. So yeah, good,
• 22:53
  Speaker 3: I'm glad that worked out for you.
• 22:55
  Speaker 2: And because I knew that it would come at a
• 22:58
  Speaker 2: financial cost to us for a while. And he was like, yeah, absolutely,
• 23:04
  Speaker 2: what are you going to call this business? Love? And
• 23:06
  Speaker 2: I like that that.
• 23:07
  Speaker 3: He's like, Oh, it's not about the semantics. What are
• 23:09
  Speaker 3: we calling this because we're doing it?
• 23:10
  Speaker 2: Yeah? Yeah, he one hundred percent back to me. He's
• 23:13
  Speaker 2: still my biggest backer to this day. He actually works
• 23:16
  Speaker 2: in the business now, so oh stop it. Yeah. So
• 23:20
  Speaker 2: he has always been my biggest supporter, along with my parents.
• 23:23
  Speaker 2: Looping my mum and dad back into it again. You know,
• 23:26
  Speaker 2: during that period of time, I relied on them very
• 23:28
  Speaker 2: heavily for their wisdom and guidance and leaned on them
• 23:32
  Speaker 2: a lot during that period of time.
• 23:34
  Speaker 3: I love that.
• 23:35
  Speaker 2: And I slowly started building a team of people around me.
• 23:39
  Speaker 2: I knew that if I wanted to execute this business well,
• 23:43
  Speaker 2: that I would have to build a team around me
• 23:46
  Speaker 2: that were really good at the things that I wasn't
• 23:49
  Speaker 2: good at.
• 23:49
  Speaker 3: Okay, yep, perfect, And I feel like that takes a
• 23:52
  Speaker 3: level of like self understanding to go, I'm not very
• 23:55
  Speaker 3: good at this, and that can be really hard yeah,
• 23:58
  Speaker 3: and I.
• 23:58
  Speaker 2: Wanted to be out there growing the business as well
• 24:02
  Speaker 2: and meeting people who needed my services and making sure
• 24:07
  Speaker 2: I was networking and you know, getting in front of
• 24:09
  Speaker 2: the right people. And thankfully the country town that you
• 24:13
  Speaker 2: know we live in has a really strong business community.
• 24:17
  Speaker 2: And I leveraged into that a lot. And the first
• 24:21
  Speaker 2: two years I didn't pay myself. Yeah, so it was
• 24:24
  Speaker 2: only thanks to good saving and you know, having a
• 24:28
  Speaker 2: good pot of money behind us, my husband and I
• 24:32
  Speaker 2: that allowed me to really invest everything that I earned
• 24:35
  Speaker 2: for the business back into the business.
• 24:37
  Speaker 3: Oh how good. So tell me what type of business
• 24:41
  Speaker 3: is this and how much does it earn each year?
• 24:43
  Speaker 2: Yeah? Sure? So there's two businesses now, Oh okay, big dog.
• 24:47
  Speaker 2: Yeah two businesses now. One is a business solutions firm.
• 24:51
  Speaker 2: We provide full end office support. Two businesses. So that's bookkeeping, admin,
• 24:58
  Speaker 2: virtual reception, social and did you marketing human resources? Oh?
• 25:02
  Speaker 3: Very cool.
• 25:03
  Speaker 2: So a one stop shop for businesses to outsource the
• 25:07
  Speaker 2: pain areas that they find in their business. And the
• 25:11
  Speaker 2: other business is a debt collection business.
• 25:13
  Speaker 3: I love that. You know what I reckon? You'd be
• 25:16
  Speaker 3: terrifying on the phone in a good way.
• 25:18
  Speaker 2: You know what our slogan is for that business is
• 25:20
  Speaker 2: it's debt collection, with the difference love. And we go
• 25:24
  Speaker 2: about debt collecting not in your typical way. I believe
• 25:28
  Speaker 2: that everything is resolvable through good communication and good relationships,
• 25:34
  Speaker 2: and if you assign those same principles to collecting money,
• 25:38
  Speaker 2: you will often be quite successful.
• 25:39
  Speaker 3: You're smart woman.
• 25:41
  Speaker 2: So we just go about it a little bit differently
• 25:43
  Speaker 2: to what you would envisage your typical debt collector to be.
• 25:46
  Speaker 3: I don't have any debts that need to be collected now,
• 25:48
  Speaker 3: but next time I do, I'm gonna call you.
• 25:50
  Speaker 2: Yeah, sure, please do love to help.
• 25:52
  Speaker 3: So tell me now, what type of revenue and employee
• 25:55
  Speaker 3: headcount are we looking at? You said, you've like, I
• 25:57
  Speaker 3: already know you've got employees. What's that look like? Yeah?
• 26:00
  Speaker 2: So we've got a team of twenty now twenty twenty.
• 26:03
  Speaker 3: Yeah, look at you go.
• 26:05
  Speaker 2: And we turned over last year in excessive two million.
• 26:07
  Speaker 3: Excuse me, I love this for you? Do you sometimes go?
• 26:12
  Speaker 3: I did that? Yeah?
• 26:13
  Speaker 2: I mean, I'm very very proud of what we've achieved.
• 26:16
  Speaker 2: I'm very very proud of the staff that we have
• 26:19
  Speaker 2: and the people that we've developed within the business. Being
• 26:21
  Speaker 2: in a small country town has had its challenges in
• 26:26
  Speaker 2: recruiting talent, but we have been able to develop and
• 26:31
  Speaker 2: grow some exceptional women. We've got a very large female
• 26:34
  Speaker 2: employee base and we've been able to really develop those
• 26:38
  Speaker 2: staff and some of them now they run rings around
• 26:41
  Speaker 2: me good and I'm really really proud of that.
• 26:44
  Speaker 3: I say that all the time about my business, like
• 26:46
  Speaker 3: I actually want you to be better at this than me.
• 26:48
  Speaker 3: Like I'm hiring you because I think you're way smarter
• 26:50
  Speaker 3: than me and better at it. Otherwise I would be
• 26:53
  Speaker 3: controlling and just do it myself, which can be humbling
• 26:57
  Speaker 3: when I'm like, hey, guys, I've got this good idea
• 26:59
  Speaker 3: and they're like, oh oh no, and I'll go, oh okay,
• 27:02
  Speaker 3: I'll just go sit in the corner. Then thank you.
• 27:05
  Speaker 2: I think the really important thing about building a successful
• 27:08
  Speaker 2: business is leaning into the people you have around you agree,
• 27:13
  Speaker 2: and also empowering them to show up at their best
• 27:16
  Speaker 2: and also working on their strengths. Like there's some people
• 27:19
  Speaker 2: within our team that I can really identify where they're
• 27:22
  Speaker 2: going to succeed very quickly, and I'm like, let's do
• 27:25
  Speaker 2: more of that. It's paid off.
• 27:27
  Speaker 3: You sound like a leader, not a manager. And I
• 27:28
  Speaker 3: love that so so much.
• 27:30
  Speaker 2: I still love being on the tool, so I still
• 27:32
  Speaker 2: love getting my hands dirty.
• 27:33
  Speaker 3: But a leader does that, a manager doesn't.
• 27:35
  Speaker 2: Yeah.
• 27:36
  Speaker 3: True, Alida shows people by being with them and working
• 27:39
  Speaker 3: with them, not sitting above them and quote leading. And
• 27:43
  Speaker 3: you're not cracking a whip. You're literally in the trenches
• 27:45
  Speaker 3: getting it done with them. That's what good leadership is about.
• 27:49
  Speaker 3: Now I'm gonna pivot back to your personal life, and
• 27:52
  Speaker 3: I also want to touch on the same thing for business.
• 27:55
  Speaker 3: I suppose what are your current big money goals? What
• 27:57
  Speaker 3: are you currently working towards.
• 27:59
  Speaker 2: My big money goals would be to set my children up.
• 28:04
  Speaker 2: Breaking into the property market these days is so difficult.
• 28:08
  Speaker 2: I'm seeing some of my friends with older kids really
• 28:11
  Speaker 2: struggling to get into the property market. So one of
• 28:14
  Speaker 2: my big goals would be getting myself to a point
• 28:17
  Speaker 2: where I can buy a couple of investment properties to
• 28:21
  Speaker 2: leverage that for them. They've still got high school education
• 28:24
  Speaker 2: to come. I was privately school educated, and I think
• 28:27
  Speaker 2: my parents every day, not in any way discrediting our
• 28:30
  Speaker 2: public system. We've got a fantastic public system. But I
• 28:33
  Speaker 2: loved my private school education and I believe it has
• 28:37
  Speaker 2: set me up for life, and I want to be
• 28:40
  Speaker 2: able to give my children those opportunities. So I know
• 28:44
  Speaker 2: I've got a few years of quite hexy school fees
• 28:48
  Speaker 2: coming up for them, so that's been one of my
• 28:50
  Speaker 2: big savings. I've been working diligently towards that to make
• 28:53
  Speaker 2: sure that their school fees will be covered.
• 28:54
  Speaker 3: And they're crazy these days, Like they're crazy. I did
• 28:57
  Speaker 3: not realize how astronomical school fees have gotten. Like I
• 29:00
  Speaker 3: had the privilege of going to a Catholic school, so
• 29:03
  Speaker 3: it was definitely not a full private school, but it
• 29:06
  Speaker 3: was Catholics. It was like kind of like that in between,
• 29:09
  Speaker 3: I suppose, and I really really valued that. But it's
• 29:12
  Speaker 3: one of those funny things where people like public education
• 29:14
  Speaker 3: is great and I go, that's fantastic, But I didn't
• 29:16
  Speaker 3: have that experience, Like I don't know what that looks like.
• 29:20
  Speaker 3: But what I know is I got a good education,
• 29:22
  Speaker 3: and I also want my children to have that, and
• 29:23
  Speaker 3: if it's financially viable for me, like that's what I'll do.
• 29:26
  Speaker 3: And that's honestly human nature. We do what we're comfortable with,
• 29:30
  Speaker 3: so it kind of makes sense.
• 29:32
  Speaker 2: So true, and you know, I'm really grateful for my
• 29:35
  Speaker 2: parents affording me that. Yeah, because I can look back
• 29:38
  Speaker 2: now in retrospect and go those things that I learned
• 29:41
  Speaker 2: through school are the values that are now I've been
• 29:44
  Speaker 2: instilled in me as an adult woman. You know, I'm
• 29:46
  Speaker 2: very grateful and I want to be able to give
• 29:48
  Speaker 2: my kids those opportunities. Not to say they might not
• 29:51
  Speaker 2: get to the end of year twelve, and I'd be
• 29:52
  Speaker 2: super super happy for you know, them ending up in
• 29:55
  Speaker 2: a trade or doing whatever, but just giving them that
• 29:58
  Speaker 2: foundation to do whatever they want want to do is
• 30:00
  Speaker 2: really important to me.
• 30:02
  Speaker 3: No, I love that.
• 30:02
  Speaker 2: And I'd love to retire early. That's my other big
• 30:05
  Speaker 2: money goal.
• 30:05
  Speaker 3: That's sexy. What would that mean? But you've got businesses
• 30:08
  Speaker 3: like You're not coming across as the kind of gal
• 30:11
  Speaker 3: that wants to hang your boots up yet.
• 30:12
  Speaker 2: No, I'm not ready, definitely not ready to hang my
• 30:14
  Speaker 2: boots up yet. But I would love to be semi
• 30:17
  Speaker 2: retired sort of in my mid fifties another ten years.
• 30:20
  Speaker 2: It would be nice to take a bit of a
• 30:22
  Speaker 2: back seat, maybe sit on some not for profit boards
• 30:24
  Speaker 2: or do something with my time where please I can
• 30:27
  Speaker 2: contribute back a little bit would be nice and just
• 30:30
  Speaker 2: not be in a rat race, you know, running business.
• 30:33
  Speaker 2: I think in about ten years time, I'll be ready
• 30:35
  Speaker 2: to maybe work a little bit part time. Yeah.
• 30:37
  Speaker 3: I love that. Now I have to be even more
• 30:39
  Speaker 3: pervy because you said your business has a two million
• 30:42
  Speaker 3: dollar revenue, which is fantastic, and that you didn't for
• 30:44
  Speaker 3: the first two years in business pay yourself, but you
• 30:47
  Speaker 3: did drop earlier that your husband now works in the business.
• 30:50
  Speaker 3: What would you say is like your combined family income now,
• 30:54
  Speaker 3: so we're over to fifty okay, so very comfy.
• 30:57
  Speaker 2: Yeah, look, we don't pay ourselves.
• 30:58
  Speaker 3: That's why I was asking combine. I'm like, I know
• 31:01
  Speaker 3: that people are going to recognize your voice in your business.
• 31:03
  Speaker 3: I was like, just tell me what they combined on average,
• 31:06
  Speaker 3: because some businesses, right like they go, oh, we're still skimping,
• 31:10
  Speaker 3: Like you know, I've got all these big money goals,
• 31:12
  Speaker 3: but like we're still paying ourselves forty grand a year
• 31:14
  Speaker 3: or on the flip side, it's like, I do genuinely
• 31:16
  Speaker 3: like you have to be in the trenches for a
• 31:18
  Speaker 3: little bit to establish things. But then I also believe
• 31:21
  Speaker 3: in paying yourself first and putting yourself as a priority first,
• 31:24
  Speaker 3: because you can't pull from an empty cup, so true.
• 31:27
  Speaker 2: And look it varies yer to year too, like we
• 31:30
  Speaker 2: had an exceptional year last year, So there's some dividends
• 31:33
  Speaker 2: there that you know, I can I can play around
• 31:35
  Speaker 2: with as well. So yes, I could pay myself more,
• 31:38
  Speaker 2: we could take home more, but we don't need more
• 31:40
  Speaker 2: at this point either, So I'd rather the money sit
• 31:44
  Speaker 2: there in the companies. I can make longer term decisions
• 31:48
  Speaker 2: and have access to those funds to help grow the
• 31:50
  Speaker 2: businesses further.
• 31:51
  Speaker 3: Not to mention, that's very tax effective.
• 31:52
  Speaker 2: So we're very comfortable. We're very comfortable. And you know
• 31:56
  Speaker 2: the good thing is if I need access to further
• 31:58
  Speaker 2: money in the future, well then.
• 31:59
  Speaker 3: I know, yeah no, and I love that as well.
• 32:02
  Speaker 3: I obviously try to be as transparent as possible with
• 32:06
  Speaker 3: my business journey just because I know it helps people.
• 32:09
  Speaker 3: But then also I'm like, where is the boundaries here?
• 32:12
  Speaker 3: Because I am a public figure, like you know who
• 32:14
  Speaker 3: I am when I talk about my income, but I
• 32:16
  Speaker 3: do the same, like I have this base salary that
• 32:18
  Speaker 3: I pay myself that I go, okay, cool, Like you know,
• 32:21
  Speaker 3: my husband and I have done our budget and we
• 32:22
  Speaker 3: work out between his income and my income what that
• 32:25
  Speaker 3: looks like. And then you know, at the end of
• 32:27
  Speaker 3: the year, when it's usually June, actually, I sit down
• 32:29
  Speaker 3: with my account and we do like some tax planning,
• 32:31
  Speaker 3: and he will let me know whether I can pull
• 32:34
  Speaker 3: money out of the business or what that looks like.
• 32:36
  Speaker 3: And to be honest, I love sitting on a little
• 32:38
  Speaker 3: bit of cash in the business because one, tax effective. Obviously,
• 32:42
  Speaker 3: if I pull it out, I'm paying my marginal tax
• 32:44
  Speaker 3: rate instead of the effective business rates. But two, I
• 32:48
  Speaker 3: just feel so secure knowing that if you know, something
• 32:51
  Speaker 3: happened and like I don't know I needed you to
• 32:54
  Speaker 3: collect some debts, I could still pay my bills in
• 32:56
  Speaker 3: the interim. And my staff are you know, going to
• 32:58
  Speaker 3: be able to keep roofs over their heads like that.
• 33:00
  Speaker 3: Just there's a lot of responsibility and you probably feel
• 33:03
  Speaker 3: that too with twenty staff.
• 33:05
  Speaker 2: Yeah, there definitely is a lot of responsibility. And look,
• 33:08
  Speaker 2: cash is king, cash is king, and having options for
• 33:12
  Speaker 2: cash is power up for me. So yeah, it'd be
• 33:15
  Speaker 2: great to be rolling around in modds one hundred dollar notes,
• 33:18
  Speaker 2: you know, a be lovely and buying all of the
• 33:21
  Speaker 2: designer things and what have you. But that's not where
• 33:24
  Speaker 2: I get my value from.
• 33:25
  Speaker 3: It's not your journey either.
• 33:27
  Speaker 2: I really enjoy being able to just live comfortably. That
• 33:30
  Speaker 2: makes me happy. Live comfortably. We don't have to worry
• 33:33
  Speaker 2: about money, which is really really nice. I've been there,
• 33:37
  Speaker 2: I've worried about money. It's been a part of my
• 33:40
  Speaker 2: life in those younger years when I was in my
• 33:42
  Speaker 2: house for the first time, and then also those couple
• 33:44
  Speaker 2: of years where I was growing the business, we accessed
• 33:48
  Speaker 2: all of our savings. You know, that was a stressful
• 33:51
  Speaker 2: period of time for us financially. So yeah, it's absolutely
• 33:55
  Speaker 2: nice to not have to worry now, but also plan
• 33:59
  Speaker 2: for the future is also.
• 34:01
  Speaker 3: Important, adore. So now flip that question, so what are
• 34:04
  Speaker 3: your big money goals for the business.
• 34:06
  Speaker 2: So the big money goals are for the business to
• 34:09
  Speaker 2: continue to grow. So we want to open up another
• 34:12
  Speaker 2: office outside of the regional base that we're in at
• 34:15
  Speaker 2: the moment, get into one of the big city centers,
• 34:17
  Speaker 2: which we're planning on doing in twenty twenty seven.
• 34:21
  Speaker 3: That's so exciting. You do need some cash for that though.
• 34:23
  Speaker 2: Definitely, just to access talent to take the business to
• 34:26
  Speaker 2: the next level means that we have to establish ourselves
• 34:30
  Speaker 2: in an area where we can access more talent.
• 34:32
  Speaker 3: Yeah, totally. That's so exciting. All right, I have a
• 34:34
  Speaker 3: lot more questions for you, So let's go to a
• 34:37
  Speaker 3: really quick break and on the flip side, we're going
• 34:39
  Speaker 3: to be talking investment and more about debt and best
• 34:42
  Speaker 3: and worst money habits. So guys, don't go anywhere or
• 34:48
  Speaker 3: at money darist. I'm going to dive straight in. I'm
• 34:50
  Speaker 3: going to make the assumption that the biggest investment you
• 34:52
  Speaker 3: have in your life is your business. Is that correct?
• 34:55
  Speaker 2: Yes, most certainly.
• 34:57
  Speaker 3: I feel like most business owners are like that. What
• 35:00
  Speaker 3: are your thoughts around investing? Is that something that you
• 35:03
  Speaker 3: guys are doing? Is that something that you're like, No,
• 35:05
  Speaker 3: everything goes back into the business at this point, because like, sorry,
• 35:09
  Speaker 3: you've got a business with a two million dollar revenue,
• 35:11
  Speaker 3: So that's pretty good. That's a pretty good ROI given
• 35:14
  Speaker 3: you built that from scratch.
• 35:15
  Speaker 2: Yeah. Well, look, we do have some investments. I've got
• 35:18
  Speaker 2: some crypto investments. There's a family share portfolio, but nothing definitely,
• 35:22
  Speaker 2: nothing extravagant. There's nothing extravagant sitting in there. I'm definitely
• 35:26
  Speaker 2: not a savvy investor. I do work closely with a
• 35:29
  Speaker 2: financial planner to make sure that we keep things on track.
• 35:31
  Speaker 2: And we're smart with our money. One of my biggest
• 35:35
  Speaker 2: things is we do pump a fur bit of money
• 35:37
  Speaker 2: into ours super. That is something I've been doing for
• 35:40
  Speaker 2: a long period of time, and now that I've got
• 35:42
  Speaker 2: more resources to be able to do that, pushing money
• 35:45
  Speaker 2: into Super is probably one of my investment strategies at
• 35:48
  Speaker 2: the moment. I love that.
• 35:49
  Speaker 3: Why super over having you know you said you had
• 35:52
  Speaker 3: a family investment portfolio? Why have you gone all right? Well,
• 35:55
  Speaker 3: only because I'm literally following this along with a fine
• 35:58
  Speaker 3: tooth comb If you want to tie early, like in
• 36:01
  Speaker 3: your fifties, how's that part of the strategy.
• 36:04
  Speaker 2: Yeah, So obviously I work with our financial planner to
• 36:06
  Speaker 2: work out where's the best way and most tax effective
• 36:10
  Speaker 2: way as well to invest the money one hundred percent
• 36:12
  Speaker 2: And Super is one of us strategies at the moment.
• 36:15
  Speaker 2: So it could change in folve months time, but that's
• 36:18
  Speaker 2: the strategy at the moment. We don't have a huge
• 36:20
  Speaker 2: chef portfolio or anything savvy or extravagant like that, but
• 36:24
  Speaker 2: we do have some money tucked away there in shares,
• 36:27
  Speaker 2: hopefully for a bit of a rainy day payout one day.
• 36:29
  Speaker 3: Yeah, totally, And I think this is going to say,
• 36:31
  Speaker 3: I'm just sharing parts of my journey because I feel
• 36:34
  Speaker 3: like it resonates as well with the episode. But I've
• 36:37
  Speaker 3: been talking to my financial advisor, which I think a
• 36:39
  Speaker 3: lot of people are really confused that I have, because
• 36:41
  Speaker 3: they're like, weren't you an advisor And I was like, yes,
• 36:43
  Speaker 3: but it's kind of like the plumber who has a
• 36:45
  Speaker 3: leaky tab, like if you don't have your finger on
• 36:48
  Speaker 3: the pulse, and for me, an additional third party checking
• 36:51
  Speaker 3: in and going hey, V like have we thought about this, this,
• 36:54
  Speaker 3: and this, I just leave it to the wayside, And
• 36:56
  Speaker 3: we've just started having conversations about superannuation that you know,
• 37:02
  Speaker 3: I obviously know what I'm talking about, but they're like,
• 37:05
  Speaker 3: the I think that we should be pumping a bit
• 37:07
  Speaker 3: more in here now and basically making hey, well the
• 37:10
  Speaker 3: sun's shining, small tax effective, et cetera, et cetera, because
• 37:12
  Speaker 3: until now everything has really gone into my personal investment
• 37:16
  Speaker 3: portfolio because I do want to retire early, but I
• 37:19
  Speaker 3: also want to make the most of a very sexy
• 37:21
  Speaker 3: tax environment and like also set future me who yeah,
• 37:25
  Speaker 3: she hopefully will be retired by the time she gets
• 37:27
  Speaker 3: to that, but can have an even cushier life, Like
• 37:31
  Speaker 3: there's just a lot going on. So I just think
• 37:33
  Speaker 3: it's so interesting that both of us, like you are
• 37:36
  Speaker 3: obviously two really incredible businesses, and I would say someone
• 37:40
  Speaker 3: who runs a business solutions business covering literally everything you
• 37:44
  Speaker 3: probably could do it yourself, but sometimes you need the
• 37:47
  Speaker 3: outside help and the guidance and someone that just kind
• 37:50
  Speaker 3: of like goes, yep, this is what we're doing and
• 37:52
  Speaker 3: then helps you facilitate it.
• 37:53
  Speaker 2: Yeah, I think you need experts in their field advising you.
• 37:57
  Speaker 2: So I'm definitely not a financial plan our financial advisor,
• 38:01
  Speaker 2: so I lean on people who are experts in that field.
• 38:05
  Speaker 2: You know. I've got a fabulous accountant who you know,
• 38:08
  Speaker 2: as you have mentioned before, tax planning, like that's something
• 38:11
  Speaker 2: that I do with her every year. I really enjoy
• 38:14
  Speaker 2: that time with her. We are sorts of questions and
• 38:16
  Speaker 2: you know, work out the best strategy to make sure
• 38:19
  Speaker 2: that we're minimizing our tax we're getting the most benefit
• 38:23
  Speaker 2: for the businesses and ourselves personally. So yeah, definitely relying
• 38:27
  Speaker 2: on the network of people around me. I don't have
• 38:30
  Speaker 2: all the answers most certainly not, and they do, so
• 38:34
  Speaker 2: I'll talk to them about it.
• 38:36
  Speaker 3: Money win talk to me now about debt, So in
• 38:40
  Speaker 3: both business and then in personal life, what debts are
• 38:43
  Speaker 3: you carrying? What does that look like?
• 38:45
  Speaker 2: So right at this point in time, at this exact
• 38:48
  Speaker 2: point in time, two mortgages, because we've just sold our
• 38:52
  Speaker 2: family home and moved into a new family home, which
• 38:54
  Speaker 2: has been really really exciting. How far we're just in
• 38:58
  Speaker 2: the process. It's so exciting. It's been lovely. My husband
• 39:02
  Speaker 2: and I built our first home and we've raised our
• 39:05
  Speaker 2: kids there and in the process of being sold, and
• 39:07
  Speaker 2: we bought a new home and we've been in here
• 39:09
  Speaker 2: for a little while. So we're carrying two mortgages at
• 39:12
  Speaker 2: the moment, but that should all be done at the
• 39:14
  Speaker 2: end of this month.
• 39:15
  Speaker 3: And when you stay done, you mean you'll drop back
• 39:18
  Speaker 3: down to like one mortgage, shingle.
• 39:19
  Speaker 2: Mortgage in carrigage. And then we've just got two motor vehicles.
• 39:23
  Speaker 2: That's the only debt we have, including the business.
• 39:26
  Speaker 3: And those personal cars or business cars business cars. This month,
• 39:30
  Speaker 3: I was about to be like, tell me you've got
• 39:32
  Speaker 3: that in your business, Like, don't get me wrong, there's
• 39:34
  Speaker 3: a whole heap of things that you'd take into consideration.
• 39:37
  Speaker 2: But we definitely pay FBT on those cars because we
• 39:41
  Speaker 2: use as a hybrid of business and personal same but yeah,
• 39:44
  Speaker 2: both cars have purchased some of the company. But yeah,
• 39:47
  Speaker 2: other than that, we have no debt.
• 39:48
  Speaker 3: Love, that's so sexy, especially from a business owner. Sorry,
• 39:52
  Speaker 3: two million dollars in revenue and you have no business debt. Oh,
• 39:56
  Speaker 3: that's so sexy.
• 39:57
  Speaker 2: You debt And I'm very get impressive.
• 40:00
  Speaker 3: Are you proud of that?
• 40:01
  Speaker 2: Really proud? And one of my strategies going into business
• 40:04
  Speaker 2: was that I didn't want to have a huge amount
• 40:08
  Speaker 2: of debt to carry. I wanted to slowly build the business.
• 40:11
  Speaker 2: And the sacrifice for that was that we depleted our
• 40:15
  Speaker 2: savings during that period of time because I wasn't able
• 40:17
  Speaker 2: to pay myself because I just reinvested everything back into
• 40:20
  Speaker 2: the business in the hope that it would pay off,
• 40:23
  Speaker 2: and it did. But that meant that I wasn't carrying debt.
• 40:27
  Speaker 2: Which when I say we don't carry debt, we have
• 40:29
  Speaker 2: a company credit card which we pay off every month
• 40:31
  Speaker 2: and we utilize that. But no, significant, No.
• 40:35
  Speaker 3: That doesn't count. Like, don't get me wrong, Like, yes,
• 40:38
  Speaker 3: I know a lot of people will be like, well,
• 40:39
  Speaker 3: that's bad debt, but that's the same as us like
• 40:42
  Speaker 3: we have a business credit card because I'm like, well,
• 40:44
  Speaker 3: that for our business makes the most sense. And it
• 40:47
  Speaker 3: also from a security perspective, like my team have that
• 40:50
  Speaker 3: they can put their expenses on the credit card, but
• 40:53
  Speaker 3: no one has access to all of our business savings
• 40:56
  Speaker 3: if we get hacked or whatever. I'd prefer it to
• 40:58
  Speaker 3: be on a credit card. Also, point slack. All of
• 41:01
  Speaker 3: that is very fun. And then on top of that,
• 41:03
  Speaker 3: it just gets paid off every month, so it's just
• 41:05
  Speaker 3: a cash flow strategy rather than a debt strategy exactly.
• 41:08
  Speaker 2: And look, I believe that the right debt can be
• 41:11
  Speaker 2: good to I.
• 41:12
  Speaker 3: Do too, but I'm scared of it.
• 41:13
  Speaker 2: Yes it is.
• 41:14
  Speaker 3: It is scary.
• 41:15
  Speaker 2: It is scary, but I'm also not opposed to going.
• 41:19
  Speaker 2: If the right opportunity came my way and I needed
• 41:22
  Speaker 2: to leverage debt to execute that opportunity, I would definitely
• 41:27
  Speaker 2: do it. Yeah, agreed, it have to be the right
• 41:29
  Speaker 2: opportunity for me to do it.
• 41:31
  Speaker 3: You have worked so hard and this is just all
• 41:33
  Speaker 3: so exciting. But how are you protecting it? Do you
• 41:36
  Speaker 3: have personal insurances set up?
• 41:38
  Speaker 4: If so?
• 41:38
  Speaker 2: How?
• 41:39
  Speaker 3: If not?
• 41:39
  Speaker 2: Why so?
• 41:40
  Speaker 4: Yes, I certainly do have personal insurances to protect myself
• 41:44
  Speaker 4: and the business to ensure its future growth and longevity,
• 41:48
  Speaker 4: and also if the worst situation was to ever happen
• 41:52
  Speaker 4: and I was unable to work in the business. So
• 41:55
  Speaker 4: some of the insurances that I do have from a
• 41:58
  Speaker 4: personal perspective is tously my death and permanent disability, which
• 42:04
  Speaker 4: is insurance that's held under and through my superfund. So
• 42:08
  Speaker 4: I have a phenomenal financial advisor who make sure that
• 42:12
  Speaker 4: every year we touch base, we review my insurance policies
• 42:17
  Speaker 4: in and around death and permanent disability. I also have
• 42:20
  Speaker 4: income protection insurance, so in the event that I'm unable
• 42:25
  Speaker 4: to generate an income or something unfortunate was to happen,
• 42:29
  Speaker 4: that my family had some protection in and around the
• 42:32
  Speaker 4: income coming into the family home. And one of the
• 42:35
  Speaker 4: other insurances that I have been looking into lately, I
• 42:38
  Speaker 4: haven't yet taken out this policy, but it's something I'm
• 42:41
  Speaker 4: talking about with my broker is in and around key
• 42:44
  Speaker 4: Man insurance, and it was something that was foreign to
• 42:47
  Speaker 4: me up until recently. And key Man insurance is something
• 42:53
  Speaker 4: that is in place for owners of larger businesses who
• 42:59
  Speaker 4: play a part in the income generation of that business,
• 43:04
  Speaker 4: and if something unfortunate was to happen in terms of
• 43:08
  Speaker 4: if I was incapacitated in any way that the income
• 43:12
  Speaker 4: that I bring into the business, there was some insurance
• 43:15
  Speaker 4: in and around that. So that's something that I'm looking
• 43:18
  Speaker 4: at at the moment to see if that will be
• 43:21
  Speaker 4: of benefit to me personally and to the business.
• 43:24
  Speaker 3: I love you are so switched on and at the
• 43:26
  Speaker 3: very start you said, I'm an as so girl. What's
• 43:29
  Speaker 3: your best money havebit?
• 43:30
  Speaker 2: I think I'm all over my numbers.
• 43:32
  Speaker 3: I can tell like I eat bously this stuff.
• 43:36
  Speaker 2: I watch my numbers daily. Cash is king. As I
• 43:39
  Speaker 2: mentioned before, you know, I'm always looking at my cash
• 43:41
  Speaker 2: flow projections, you know, making sure I'm all over that,
• 43:45
  Speaker 2: making sure the business is meeting its goals and expectations.
• 43:50
  Speaker 2: If we do have revenue peaks and troughs, am I
• 43:52
  Speaker 2: prepared for those? What do they look like? My financial literacy,
• 43:56
  Speaker 2: I'd say is quite high. Is it the best? Definitely not.
• 44:00
  Speaker 2: Have I got errors to improve, absolutely, But I'm pretty
• 44:03
  Speaker 2: all over that.
• 44:03
  Speaker 3: Yeah, elite, I love that. And then flip it. Do
• 44:06
  Speaker 3: you actually have a worst money habit?
• 44:08
  Speaker 2: I do. I've got a few booking holidays on a
• 44:11
  Speaker 2: whim would be one.
• 44:12
  Speaker 3: Okay, that's good. No, I love that for you because
• 44:15
  Speaker 3: I'm like, girl, you work so hard. I'm not mad
• 44:17
  Speaker 3: about this.
• 44:18
  Speaker 2: Yeah. Probably not putting some thought processes into booking holidays
• 44:21
  Speaker 2: would be one and last minute Christmas shopping. I'm just why.
• 44:26
  Speaker 3: I'm the same as you.
• 44:27
  Speaker 2: I'm just the worst when it comes to that, and
• 44:29
  Speaker 2: then I overspend and I'm not prepared. Every year I
• 44:34
  Speaker 2: say I've got next year's going to be different, Next
• 44:36
  Speaker 2: year's going to be different.
• 44:38
  Speaker 3: It's every time, every time. No, but do you know
• 44:41
  Speaker 3: what I have done? I now have a list in
• 44:42
  Speaker 3: my phone and I've always had like a gift list,
• 44:44
  Speaker 3: but I made a specific Christmas list. But I feel
• 44:47
  Speaker 3: like that's a step in the right direction.
• 44:49
  Speaker 2: Yep. Well, look you're part way there, which I love it.
• 44:52
  Speaker 2: I think I probably need to do the same. I look,
• 44:54
  Speaker 2: now that you've said that, maybe that's something that needs
• 44:57
  Speaker 2: to go down on the on the goals list for this.
• 45:00
  Speaker 2: I need to probably write it down to make sure
• 45:01
  Speaker 2: that I hold myself accountable to me.
• 45:03
  Speaker 3: No, I love it all right. Now, final question I've
• 45:05
  Speaker 3: got for you. You said you're an A minus. Why
• 45:07
  Speaker 3: not an A plus? What would it take for you
• 45:09
  Speaker 3: to be an A? Plus Diarist.
• 45:12
  Speaker 2: Look, I think there's always capacity to be better in
• 45:16
  Speaker 2: every aspect of life. I don't have all the answers
• 45:20
  Speaker 2: all the time, so I don't think I could be
• 45:22
  Speaker 2: an A plus just yet. Maybe upon retirement, when I'm
• 45:25
  Speaker 2: sitting comfortably, I can say.
• 45:27
  Speaker 3: Yeah, and you're like, we did it, We've achieved it.
• 45:29
  Speaker 2: But yeah, I think I think I'm an A minus
• 45:31
  Speaker 2: and I'm quite comfortable sitting there for the time being.
• 45:33
  Speaker 2: Always room to grow and develop.
• 45:34
  Speaker 3: That's a very good report card, so I'm not mad
• 45:36
  Speaker 3: about that. I'm always just so pervy, and the benefit
• 45:39
  Speaker 3: of you being anonymous means I can ask anything. And
• 45:41
  Speaker 3: it's just so fun because if we'd run into each
• 45:44
  Speaker 3: other in person and I'd be like, oh, tell me
• 45:46
  Speaker 3: about your business, You'd be like, yeah, it's good, and
• 45:47
  Speaker 3: I'd be like, oh, I wonder what a revenue is,
• 45:49
  Speaker 3: but I wouldn't have the balls to ask, Oh my god, no,
• 45:52
  Speaker 3: So thank you for that.
• 45:53
  Speaker 2: It's lovely to be able to share two anonymously with people,
• 45:57
  Speaker 2: because I know there's lots of women out there that
• 45:58
  Speaker 2: are probably sitting on the phone's about jumping into their
• 46:01
  Speaker 2: own business, whether insecurity, is showing up for them or
• 46:04
  Speaker 2: fear hundred sent don't quite make the leap. Hopefully sharing
• 46:07
  Speaker 2: my story gives them the motivation to be able to go, Yeah,
• 46:11
  Speaker 2: I can do it. I can absolutely do it.
• 46:13
  Speaker 3: I could not agree more. That is literally why the
• 46:15
  Speaker 3: podcast exists. I'm like, guys, it's not out of reach.
• 46:19
  Speaker 3: It really isn't. It does take some work, it really does,
• 46:22
  Speaker 3: but it's not impossible. Stories like this make me so excited,
• 46:26
  Speaker 3: and it also makes me so sad because I'm running
• 46:28
  Speaker 3: out of time and I can't ask more perfect questions.
• 46:30
  Speaker 3: But I just know that the community is going to
• 46:32
  Speaker 3: love having listened to this in the same way that
• 46:35
  Speaker 3: I loved getting the privilege of recording it. So thank
• 46:37
  Speaker 3: you so much for your time.
• 46:38
  Speaker 2: Thanks so much for your time. Really nice to chat
• 46:41
  Speaker 2: with you today. You too.
• 46:47
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• 46:50
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