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Wait till You Hear What this 25 Year Old Has Built on a Macca’s Paycheck · She's On The Money

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Speaker 1: My name's Anatasha Bamblet. I'm a proud First Nations woman
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Speaker 1: and I'm here to acknowledge country t Glenn Young Ganya Niana,
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Speaker 1: kaka ya Ya bin Ahaka Nian our gay in Mbina,
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Speaker 1: yakarum Jar, Dominyama, Domaga, Ithawakaman, damon Imlan Bomber bang Gadabomba
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Speaker 1: in and now in wakah Ghana on yak rum Jar
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Speaker 1: water Nadaa. 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: Abiginal 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.
0:44
Speaker 2: She's on the Money.
0:46
Speaker 3: She's on the Money.
1:07
Speaker 2: Hello, and welcome to She's on the Money, the podcast
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Speaker 2: that lets you be pervy about other people's money habits
1:13
Speaker 2: for educational purposes, of course. Welcome back to another one
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Speaker 2: of our money daries where we get to talk with
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Speaker 2: one of our incredible She's on the Money community members
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Speaker 2: all about their journey. Let's jump straight into it. Because
1:25
Speaker 2: this week I got an email and it sounded exactly
1:27
Speaker 2: like this, dear, she's on the money. I got my
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Speaker 2: first job at fourteen at McDonald's, and I've been working
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Speaker 2: and saving ever since. At nineteen, I bought my first
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Speaker 2: townhouse while studying at UNI and trying to make a
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Speaker 2: mortgage work on a part time income. A few years later,
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Speaker 2: my partner moved in and started paying rent, and that
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Speaker 2: was the beginning of us building something bigger together. We've
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Speaker 2: since bought a home of our own, and that first
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Speaker 2: property is now an investment. I'm obsessed with your podcast.
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Speaker 2: I listened to every single episode. I would absolutely love
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Speaker 2: to share my story as a single young girl who
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Speaker 2: started working at macis who now has a portfolio of
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Speaker 2: one point five million dollars at the age of twenty five.
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Speaker 2: I'm so passionate about budgeting and money management. Let's chat money, diarist.
2:14
Speaker 2: So you're like a millionaire that you're like twenty five,
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Speaker 2: isn't that crazy? All right? So tell me a little
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Speaker 2: bit more about your money story. Let's go back to
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Speaker 2: you being fourteen and your first job being macs.
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Speaker 4: Hey. So my money story probably started yet when I
2:26
Speaker 4: was fourteen, I was working part at McDonald's. My parents
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Speaker 4: were very much into my sister and I starting work
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Speaker 4: as soon as we become fourteen. So we worked at
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Speaker 4: McDonald's and I was earning eight dollars an hour at
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Speaker 4: the time that would have felt like a lot. It
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Speaker 4: was a lot, and I love the extra money that
2:44
Speaker 4: I was bringing in as well that I could spend.
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Speaker 4: So I was on eight dollars an hour. I was
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Speaker 4: working most weekends and night after school as well, and
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Speaker 4: I gradually worked my way up through McDonald to become
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Speaker 4: a manager. By the ten I was seventeen. Oh okay, cool, Yeah,
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Speaker 4: it was really exciting. So drew McDonald's. I was able
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Speaker 4: to save up enough money to buy my first car,
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Speaker 4: and then from there I was able to also save
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Speaker 4: my deposits for my first townhouse that I bought in
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Speaker 4: two thousand and nineteen.
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Speaker 2: How much did you save for that? Because that's crazy,
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Speaker 2: like going from you know, fourteen, earning eight dollars an hour,
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Speaker 2: obviously working up like earning some more. But there are
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Speaker 2: so many people and I mean, this wasn't that long ago, guys, like,
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Speaker 2: you know, she's twenty five. This is not like, you know,
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Speaker 2: thirty years ago. You know, you bought your first home
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Speaker 2: and we go, oh, great, like bit unrelatable. I feel
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Speaker 2: like during this period of time you would have been
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Speaker 2: seeing friends and family and stuff, still saying like, oh,
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Speaker 2: the property market's really hard to get into. How much
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Speaker 2: did you save? Like I'm jumping ahead, but like, girl,
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Speaker 2: this is impressive as all. Heck.
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Speaker 4: Yeah, so I saved thirty thousand dollars because the cownhouse
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Speaker 4: was only two hundred and fifty thousand dollars that I
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Speaker 4: paid for it. Yeah, so they had it advertised for
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Speaker 4: two hundred and seventy five thousand, but because I was
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Speaker 4: part time, I was at university, I was obviously female,
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Speaker 4: so they were like, oh, you could only borrow, like
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Speaker 4: to purchase up to two hundred and fifty thousand, to
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Speaker 4: borrow two hundred and twenty thousand. Yeah, that's where that
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Speaker 4: came from. And I put my offer in. The owner
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Speaker 4: at the time was desperate to sell. He was an investor.
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Speaker 4: He wanted to buy all the property, so he was like,
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Speaker 4: you're the only person interested, I'll just sell it to you.
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Speaker 4: So that was really really good for me money when
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Speaker 4: wikake that, and then I spent the next five years
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Speaker 4: living in that property. And studying at university. And then
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Speaker 4: once I graduated university, I saved up some money with
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Speaker 4: my partner and we moved into our next house that
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Speaker 4: we bought, which was last year in May, for seven
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Speaker 4: hundred and forty five thousand.
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Speaker 2: Oh my goodness.
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Speaker 4: Yeah, we wanted a bit of house with some land,
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Speaker 4: so he saved up a deposit because he was paying
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Speaker 4: me rent at the time. We were living in the townhouse,
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Speaker 4: and so he saved the deposit and I drew the
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Speaker 4: equity from my account and we bought this house I'm
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Speaker 4: currently living in now.
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Speaker 2: Oh my god, So tell me you bought that townhouse.
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Speaker 2: And I know I'm jumping ahead to the like you know,
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Speaker 2: investments and debts and stuff like I know people are
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Speaker 2: thinking it right now, and we're real pervy. You bought
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Speaker 2: for about two fifty K. What was the equity when
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Speaker 2: it came to purchasing your like family home, I suppose
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Speaker 2: with your partner.
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Speaker 4: Yeah, so I ended up drawing out one hundred and
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Speaker 4: ten thousand dollars in equity. To give a little bit
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Speaker 4: of perspective. Obviously, the property market has increased since then,
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Speaker 4: so it's currently worth six hundred and fifty thousand sorry.
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Speaker 2: What you bought for two fifty and it's worth six
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Speaker 2: point fifty.
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Speaker 4: Yes, yes, And the property valuation. A year ago when
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Speaker 4: I would buying this current house I'm living in, it
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Speaker 4: was valued at five hundred thousand, but today it is
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Speaker 4: valued at six hundred and fifty thousand, So another money win.
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Speaker 2: So when we're offline, you just give me all your
5:54
Speaker 2: property tips and tricks like I would put my money
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Speaker 2: in there. Absolutely, like you are getting way better return
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Speaker 2: burns than anything you could in the share market right now.
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Speaker 2: And that's not to say that property is a better investment, Guys,
6:05
Speaker 2: do not take what I'm saying as that. But like
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Speaker 2: property on average does perform across the board lower than
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Speaker 2: the share market. Fine, we know that on the risk
6:13
Speaker 2: reward chart. But tell me a bit more about this.
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Speaker 2: You live in Queensland and I won't you know, specify
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Speaker 2: your location or anything like that, but I think it's
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Speaker 2: good context because there's no way you could have bought
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Speaker 2: a two hundred and fifty thousand dollars townhouse in the
6:26
Speaker 2: last twenty years in Melbourne. But tell me about did
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Speaker 2: you think that that would happen or were you just
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Speaker 2: stoked to get property or what was your strategy around that,
6:36
Speaker 2: because girl, that's impressive.
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Speaker 4: Well, initially buying the townhouse in twenty nineteen, I was
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Speaker 4: living at home with my parents and all my friends
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Speaker 4: were getting brand new cars, and I said to my
6:47
Speaker 4: mom and dad, I was like, I need to buy
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Speaker 4: something with all this money I'm saving, Like I need
6:53
Speaker 4: to put my money somewhere. And that was when we
6:55
Speaker 4: started looking at properly because my parents were like, well,
6:57
Speaker 4: you've got a car, your car savically fine and have
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Speaker 4: a brand new car. It was like a five thousand
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Speaker 4: dollars hold in Astra, so it wasn't anything crazy. Yeah,
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Speaker 4: And so that was where that came from. And at
7:08
Speaker 4: the time, you couldn't have predicted the housing market would
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Speaker 4: go the way that it has. And I went in
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Speaker 4: with the idea that it was going to be an
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Speaker 4: investment property eventually, but I couldn't have ever imagined that
7:20
Speaker 4: it would have increased the way that it has. And
7:23
Speaker 4: obviously COVID has a lot to play into that as well,
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Speaker 4: so that has definitely helped the increase.
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Speaker 2: So a bit of strategy, but then also right place,
7:33
Speaker 2: right time, tell me why you know you're nineteen we are,
7:38
Speaker 2: I would say, still babies at nineteen. Like, I look
7:40
Speaker 2: back and I remember thinking, when I was nineteen, I'm
7:42
Speaker 2: so mature, like look at me. Go And then I
7:45
Speaker 2: look back and I go, who was that child? Like
7:47
Speaker 2: how did she even get out of the house? But
7:50
Speaker 2: when you were nineteen, how come you had such a
7:53
Speaker 2: different money mindset to your friends who were buying new
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Speaker 2: cars and traveling and doing all of that, and you
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Speaker 2: were like, I want to do something constructive with my money.
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Speaker 2: Did you grow up with really financially literate parents or like,
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Speaker 2: how did you know to do this? Because that's not
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Speaker 2: normal in a nice way, it's perfect, Like I just
8:11
Speaker 2: I wish I had that, but also I kind of
8:14
Speaker 2: did in a way. My dad was an accountant, but
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Speaker 2: I thought I knew better than him, so I listened
8:18
Speaker 2: to nothing that he said.
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Speaker 4: But's fair enough, and as you do at nineteen, like
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Speaker 4: you just want to go out and live your best life.
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Speaker 2: Yeah, I knew everything. I wish I knew what I
8:25
Speaker 2: thought I knew at nineteen.
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Speaker 4: Yeah, And I think that's why I really resonated with
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Speaker 4: your podcast, because I did have really like financially literate parents.
8:34
Speaker 4: My dad said to us when we first started working
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Speaker 4: at McDonald's that we had to transfer at least half
8:40
Speaker 4: of our pay to our savings every week, and then
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Speaker 4: he wouldn't charge like ran for board.
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Speaker 2: Oh I love that. As long as you were saving,
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Speaker 2: he was very happy to support you exactly.
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Speaker 4: So we would transfer money every week, and it was
8:52
Speaker 4: in an account that was like a bonus interest type account,
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Speaker 4: and we couldn't access it without my dad coming with
8:59
Speaker 4: us in the bank. So we would have a bank
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Speaker 4: book and we would write down every week how much
9:04
Speaker 4: we try andsfer and watch it grow. And then when
9:06
Speaker 4: we got our statements, you would see the interest come
9:08
Speaker 4: through and then you go, oh, bonus. Love that, and
9:10
Speaker 4: it teaches you you're compulsively save. And I remember my
9:14
Speaker 4: dad says all the time. I remember we took you
9:17
Speaker 4: shopping once and your mom pulls out a dress and
9:19
Speaker 4: she goes, you should buy this dress. It's beautiful. And
9:22
Speaker 4: I looked at the price and it was like forty
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Speaker 4: dollars and I said to my mom, Mom, that's like
9:26
Speaker 4: five hours work for me. Absolutely not.
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Speaker 2: You're an icon. Yeah it's true, Yeah, it's true.
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Speaker 4: It adds up. And my dad was like, because we
9:35
Speaker 4: were living at home, Mom and Dad would pay for
9:38
Speaker 4: everything that we needed to get through school and all
9:40
Speaker 4: of our essentials. But if we wanted to go out
9:42
Speaker 4: on the weekends, we wanted to eat cake away, or
9:44
Speaker 4: we wanted to buy clothes, that was on us. And
9:47
Speaker 4: because we were on such a low wage, you learn
9:49
Speaker 4: the value of money. And yeah, I'm really grateful for
9:52
Speaker 4: that because that's the reason why I am where I
9:54
Speaker 4: am today.
9:55
Speaker 2: I feel like that's really relatable as well, Like so
9:58
Speaker 2: many of my friends and I and these make it's
10:00
Speaker 2: no sense because you know, if I put myself back
10:02
Speaker 2: into like your shoes right now, my hourly rate is
10:06
Speaker 2: not the same like as it used to be. Like
10:08
Speaker 2: you know, I'm a bit complex, I'm a business owner,
10:10
Speaker 2: ebbs flows whatever. But I still have in my head
10:13
Speaker 2: one of my first jobs that I was relatively well
10:16
Speaker 2: paid in, I was earning twenty eight dollars an hour,
10:18
Speaker 2: and for some reason, whenever I think about purchasing something,
10:24
Speaker 2: my head goes back to that hourly rate of twenty
10:26
Speaker 2: eight dollars an hour and ago, that's a lot of money.
10:28
Speaker 2: If you think about it, Do I earn twenty eight
10:30
Speaker 2: dollars an hour? No, No, I earn more than that.
10:32
Speaker 2: That is a privilege, but like, for some reason, my
10:35
Speaker 2: money mindset is stuck at that it's twenty eight dollars
10:38
Speaker 2: and I think fifty two cents, like fifty ish cents, right,
10:42
Speaker 2: and I just have it in my head and anything
10:43
Speaker 2: that's like in my head, I'm like, oh my god,
10:45
Speaker 2: brunch is like two and a half hour's worth of work.
10:48
Speaker 2: Like that's how I see it. And it makes no sense,
10:51
Speaker 2: but it does.
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Speaker 4: It does, and I think it really helps you learn
10:54
Speaker 4: the value of money and how much things cost. And
10:57
Speaker 4: even to this day, I'll go out, we'll get a meal,
10:59
Speaker 4: say at the pub, and I'll always go for like
11:01
Speaker 4: the twenty dollars burger and chits as opposed to the
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Speaker 4: forty dollars steak, like and my mind just goes that way.
11:07
Speaker 2: And when you do that, I think it's really good
11:10
Speaker 2: because I was. I was talking to someone the other
11:12
Speaker 2: day and they're like, Victoria, I know that I should save.
11:15
Speaker 2: I am very clear on that. I've listened to all
11:17
Speaker 2: your content. But in the moment, I've got the pub
11:20
Speaker 2: menu in front of me, and I go the twenty
11:22
Speaker 2: dollars burger or the forty dollars steak, and I just
11:25
Speaker 2: know that I'll love the steak more, and I go,
11:28
Speaker 2: what the heck, like, I'll just buy the steak. What
11:31
Speaker 2: about your money mindset? Do you think means that you're
11:34
Speaker 2: very happy to lean towards the cheaper option, even if
11:37
Speaker 2: there's maybe an option on the menu that you're like, yeah, Like,
11:39
Speaker 2: you're right, if both of them were twenty dollars, I'd
11:41
Speaker 2: probably pick the steak. But it's not How do you
11:45
Speaker 2: make those decisions so consistently that are putting future you
11:48
Speaker 2: first without leaning into all ways being instant gratification.
11:53
Speaker 4: I think having goals is the most important thing for me,
11:56
Speaker 4: Like I talk to my partner about this quite often,
11:59
Speaker 4: having a goal of what we're working toward, because then
12:01
Speaker 4: when I go out for dinner, I go, Okay, yeah,
12:04
Speaker 4: I would love the steak, but I'm going to have
12:06
Speaker 4: the burger because then that twenty dollars that I could
12:08
Speaker 4: have spent I'm going to put towards my future wedding,
12:12
Speaker 4: for instance. And then I go, Okay, that's going to
12:15
Speaker 4: be more worthwhile for me, and it's going to get
12:17
Speaker 4: me closer to my goal than the steak in this moment.
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Speaker 2: Yeah, I love that, But it's also so important to
12:24
Speaker 2: have these conversations because I'm the same Like I used
12:26
Speaker 2: to be the steak girly and always pick like, oh,
12:29
Speaker 2: the most expensive thing, but now I'm like, ah, you
12:32
Speaker 2: know it's a Wednesday. Yeah, we are out with my friends,
12:34
Speaker 2: Like I don't need an expense. You're like, we're not
12:36
Speaker 2: celebrating anything like pipe down Victoria. I feel like the
12:39
Speaker 2: one thing that we struggle with is not comprehending the
12:42
Speaker 2: fact that we need to save or the fact that
12:44
Speaker 2: we should invest, especially if people are listening to this
12:46
Speaker 2: podcast right like they're in the right place. It's the
12:49
Speaker 2: in the moment decisions. It's the feeling like you're missing out.
12:52
Speaker 2: It's the analysis. Paralysis is the comparison. Do you find
12:56
Speaker 2: yourself looking at your friends who have maybe nicer cars
12:59
Speaker 2: or bougier experiences and going, oh, I'm go anna bit envious?
13:03
Speaker 2: Or are you just running your own race and you're
13:05
Speaker 2: very cool with it.
13:05
Speaker 4: I think I definitely youth do back when I was
13:08
Speaker 4: nineteen and I was saving all this money and I
13:10
Speaker 4: felt like it wasn't going towards anything. At the time,
13:13
Speaker 4: I definitely compared myself as you do, try and keep
13:16
Speaker 4: up with trends and where people are at who are
13:19
Speaker 4: similar to you and in the same stage of life.
13:22
Speaker 4: And I definitely have friends who have like nice new
13:25
Speaker 4: cars and they go on big holidays, and I'm going, oh,
13:27
Speaker 4: I would really love that for myself. But I know
13:29
Speaker 4: that's coming in due time, Like I know that if
13:32
Speaker 4: I put my mind to it, I can get there too.
13:34
Speaker 4: And I also recognize I am in a different stage
13:37
Speaker 4: of life as other people, and I recognize that it's
13:40
Speaker 4: all about creating wealth for my future and making sure
13:44
Speaker 4: that I'm in the best possible position I can be.
13:47
Speaker 4: And I really resonate with when you talk about financial
13:50
Speaker 4: freedom because that's something that I really want myself as well.
13:53
Speaker 2: I love this tell me more about today because I
13:56
Speaker 2: can see you nobody else can, which is an absolute
13:59
Speaker 2: privilege money, Doris, that is a very nice engagement ring.
14:02
Speaker 2: So where are we at with life? If I see
14:05
Speaker 2: something sparkly like my eyes light up, I am a
14:08
Speaker 2: dower bird at heart. So I feel like you know
14:11
Speaker 2: from fourteen macas buying your first home, You've just bought
14:14
Speaker 2: your first property. I feel like life's happening around this.
14:17
Speaker 2: So tell me a bit more about that.
14:19
Speaker 4: Yes, So at nineteen years old, when I bought that
14:22
Speaker 4: first townhouse the same year I met my current fiance.
14:25
Speaker 4: I met him in June that year, and then I
14:28
Speaker 4: bought the cowhouse in December, and so we don't live
14:31
Speaker 4: in together for six months, and I said to him,
14:34
Speaker 4: you know, would you like to move in with me?
14:36
Speaker 4: And I knew it was very early in our relationship,
14:38
Speaker 4: but at the time I didn't have anyone off, but
14:41
Speaker 4: I really wanted to be with and or live with,
14:44
Speaker 4: and so he said yes, and we moved in together
14:47
Speaker 4: and we've been together ever since. We got engaged this
14:49
Speaker 4: year in April, and he's the one who, yeah, helped
14:53
Speaker 4: save the deposit and we bought this house that we're
14:56
Speaker 4: living in together now.
14:57
Speaker 2: So I'm very, very lucky.
14:59
Speaker 4: He's really great, and he's really helped navigate our goals together.
15:03
Speaker 4: We come up with the goals list together and what
15:05
Speaker 4: we want for our future, and he's really on board
15:08
Speaker 4: and he really like worked towards saving for the same
15:11
Speaker 4: goals as meat, which is really great and I really
15:13
Speaker 4: value that.
15:14
Speaker 2: I love that, and I love asking about people's love
15:16
Speaker 2: lives as well. I'm like, oh, who's your partner, have
15:18
Speaker 2: you got a partner or do you want that like,
15:19
Speaker 2: what's going on? So tell me about today, Like, you know,
15:23
Speaker 2: you got engaged in April twenty twenty five, which is
15:26
Speaker 2: so exciting. What do you do for work? How much
15:28
Speaker 2: money are you earning now?
15:29
Speaker 4: Yeah, so I work as a pharmacist. I'm currently earning
15:33
Speaker 4: one hundred and fifteen thousand a year. And yeah, today
15:37
Speaker 4: we are currently working towards going on holidays, and we
15:41
Speaker 4: also are saving towards our wedding as well. So I'm
15:45
Speaker 4: going Gigpan next year in March, and then we're getting
15:48
Speaker 4: married in September twenty twenty seven, which is really exciting.
15:52
Speaker 4: And we've come up with like a little savings plan
15:55
Speaker 4: so that we can put money away every week towards
15:57
Speaker 4: our wedding. Because I recognize that weddings are quite expensive,
16:02
Speaker 4: but I am similar to you, Victoria, where I would
16:05
Speaker 4: love the traditional wedding and I want to be able
16:07
Speaker 4: to enjoy that with all of our family and friends.
16:09
Speaker 2: Yeah, and you have to start saving. Sorry, you just
16:11
Speaker 2: have to, like gets so expensive and it piles up.
16:13
Speaker 2: But I'm so glad when you said I'm getting married
16:15
Speaker 2: September twenty twenty seven, I was like, Queen, You've got
16:18
Speaker 2: so much time and then you Sorry, what a smart
16:21
Speaker 2: queen as well a pharmacist at twenty five earning more
16:24
Speaker 2: than one hundred grand. Sorry, what the heck?
16:27
Speaker 4: Yes, yes, I try, I try so. My pharmacy degree
16:30
Speaker 4: is very rewarding, and I'm very lucky that I work
16:34
Speaker 4: in an industry where I can give back to the
16:36
Speaker 4: community and have an impact on other people's lives. And yeah,
16:39
Speaker 4: I really love that.
16:41
Speaker 2: Stop it. You are an absolute angel, all right, So
16:43
Speaker 2: tell me a bit more. You said you and your
16:45
Speaker 2: partner have some big money goals. You've bought your property
16:49
Speaker 2: this year. What are the other goals you're working towards?
16:53
Speaker 2: The wedding I'm assuming is on there. Japan is probably
16:55
Speaker 2: on there. What else have we got?
16:57
Speaker 4: Yeah, so I'm heading over to Japan in March. And
17:00
Speaker 4: we have been saving since we bought this house last year.
17:03
Speaker 4: So last year in May, when we bought this current house,
17:06
Speaker 4: we have been putting away money for Japan every week,
17:09
Speaker 4: and we also put the same amount of money away
17:12
Speaker 4: of our home loan, so we make extra payment of
17:14
Speaker 4: the loan as well, and that's the deal. We put
17:18
Speaker 4: equal announce away every week, and then we eventually saved
17:21
Speaker 4: up enough money so over the last year to go
17:23
Speaker 4: to Japan, so we booked that so much next year,
17:25
Speaker 4: which is kind of like our reward to say, you know,
17:28
Speaker 4: you can have the house and you can have the built,
17:30
Speaker 4: but you can also save for a holiday. It may
17:32
Speaker 4: take a bit longer than you know other people, but
17:35
Speaker 4: we are working throward that. And the last thing I
17:38
Speaker 4: wanted was to go into debt for a holiday or
17:40
Speaker 4: a wedding. So that's why we booked our wedding for
17:42
Speaker 4: twenty twenty seven. And we've got a plan where we're
17:45
Speaker 4: putting both putting money away every week towards that as well,
17:48
Speaker 4: So we're kind of putting our things in all the buffets.
17:50
Speaker 2: At the moment, you are a woman after my own heart.
17:53
Speaker 2: Now let me be pervy. What type of job does
17:56
Speaker 2: your partner have and what type of income are we
17:57
Speaker 2: playing with their?
17:58
Speaker 4: Yes, so he's an area sales manager. He earns ninety
18:02
Speaker 4: thousand dollars a year. Buddy also gets the fringe benefit tax.
18:06
Speaker 4: Oh very nice, yeah, yeah, yeah, how good.
18:10
Speaker 2: So between you you've got a pretty good income, like
18:12
Speaker 2: two hundred grand plus. But at the same time, you
18:14
Speaker 2: are children in my head, like anyone who's under thirty
18:18
Speaker 2: instantly a child still like you're just a baby, but
18:21
Speaker 2: you seem to have your goals very outlined. Can I
18:24
Speaker 2: be really perfey? I love shiny things. I love a wedding.
18:28
Speaker 2: Have you decided on your wedding budget? If so, what
18:31
Speaker 2: does that kind of look like? What are we saving towards?
18:34
Speaker 4: Yeah, so I actually use your wedding budget tool that
18:39
Speaker 4: you live a spreadsheet that you created.
18:40
Speaker 2: It's free, by the way, guys, just download on my
18:43
Speaker 2: website Wedding budgeting spreadsheet.
18:45
Speaker 4: Absolutely. So I went through your wedding budget spreadsheet and
18:48
Speaker 4: I also got quote from vendors that I thought I
18:51
Speaker 4: might want to use, And I've got a few different
18:53
Speaker 4: quotes and I've plunked them in there. And I'm hoping
18:56
Speaker 4: to do my wedding for around thirty thousand dollars. I know,
19:00
Speaker 4: so that that might be expensive to some or and
19:02
Speaker 4: expensive to others, but that's the budget I'm currently working
19:06
Speaker 4: in so by my partner, and I'm putting away one
19:08
Speaker 4: hundred and sixty dollars late each week between now and
19:11
Speaker 4: August next year. We will have money in there to
19:14
Speaker 4: pay for the wedding.
19:15
Speaker 2: Yeah, and tell me, because like I know that everybody's
19:17
Speaker 2: wedding budget is different, right, and like someone will be
19:20
Speaker 2: like thirty thousand, I would never and then to be honest,
19:23
Speaker 2: like thirty thousand for the wedding I wanted absolutely not enough.
19:26
Speaker 2: I'm so sorry, And that's okay. What style of wedding
19:29
Speaker 2: are we going for? Like, you know, you've obviously already
19:31
Speaker 2: done the budget and kind of worked out on average
19:33
Speaker 2: we need this, and I'm sure you're probably going to
19:35
Speaker 2: work out a buffer and whatnot as well, But like,
19:38
Speaker 2: what kind of wedding are we having? Are we having
19:40
Speaker 2: five million people turn up?
19:41
Speaker 4: No, definitely not. We're thinking about sixty people. We actually
19:45
Speaker 4: have our engagement party next weekend, so exciting. Yeah, so
19:49
Speaker 4: the people who were coming to our engagement party, we're
19:52
Speaker 4: hoping we'll still be the people that will attend our wedding.
19:56
Speaker 4: So we're thinking about sixty people would be ideal for
19:58
Speaker 4: our wedding.
19:59
Speaker 2: Yeah, and what so you want a traditional wedding, does
20:01
Speaker 2: that involve a church or like what kind of semantics
20:05
Speaker 2: does that involve?
20:06
Speaker 4: Yeah, so we're not going to have a church our wedding.
20:09
Speaker 4: We've actually booked a venue which is on top of
20:11
Speaker 4: the mountains, so we'll have like a mountain style wedding
20:14
Speaker 4: with a reception hall on the same property, so I
20:19
Speaker 4: think it's a private property, so it's at DIY type wedding.
20:22
Speaker 4: So we bring all of our vendors to the venue,
20:24
Speaker 4: which would be really exciting.
20:26
Speaker 2: Adore. That's what we did for our wedding. I mean,
20:28
Speaker 2: not the same style, but like making sure that the
20:31
Speaker 2: ceremony was at the same place as the reception meant
20:34
Speaker 2: our guests didn't have to travel. But then also because
20:36
Speaker 2: we've just booked the reception, they didn't charge us to
20:38
Speaker 2: get married at the venue, so like that was a
20:41
Speaker 2: bit of a money win.
20:42
Speaker 4: Absolutely, And this private venue they have like a huge
20:46
Speaker 4: house that sleeps like twelve people, so we can have
20:48
Speaker 4: all of our family and like closest to us stay,
20:52
Speaker 4: which is really important to us because we're very close
20:54
Speaker 4: to our family and friends. So we wanted to have
20:56
Speaker 4: a wedding where everyone could be involved and be a
20:58
Speaker 4: part of. Yeah, our special moment.
21:01
Speaker 2: That's so special. I'm so glad. I asked, all right,
21:04
Speaker 2: let's go to a really quick break because we'll dive
21:05
Speaker 2: back into more of the money stuff. I want to
21:07
Speaker 2: talk about your investing strategy, more about debt and then
21:10
Speaker 2: your best and worst money habits. So guys, if don't
21:12
Speaker 2: go anywhere, all right, money dirist, We are back and
21:18
Speaker 2: I want to talk investing. When it comes to property,
21:21
Speaker 2: you're really good at that. You bought your first property
21:23
Speaker 2: in twenty nineteen for two hundred and fifty thousand dollars,
21:26
Speaker 2: and last year when you got a bank val it
21:27
Speaker 2: was worth six hundred and fifty. Like I would love
21:30
Speaker 2: all your tips and tricks, I just feel like that's
21:32
Speaker 2: a really good flipping deal. Are you investing in any
21:36
Speaker 2: other way, shape or form.
21:37
Speaker 4: I'm currently not investing in any other way at the moment.
21:41
Speaker 4: I've been listening to your podcast, and I've been interested
21:43
Speaker 4: in shares, and I'm also thinking about potentially investing in
21:48
Speaker 4: a pharmacy. So they're all things that I'm thinking about
21:51
Speaker 4: because we've got the equity in both property. If now
21:54
Speaker 4: I'm going do we buy another property? Do I put
21:57
Speaker 4: money in shares? Do I buy a business. I'm kind
21:59
Speaker 4: of in a stage where I'm unsure which way is
22:02
Speaker 4: the best to go, but I'm definitely interested in having
22:05
Speaker 4: a potential furred investment.
22:08
Speaker 2: That is so exciting. Can I be real pervy to
22:12
Speaker 2: own a pharmacy. You are a pharmacist, so that makes
22:15
Speaker 2: sense natural extension. How does that work? Like do you
22:19
Speaker 2: have to find the location? Do you go call up
22:22
Speaker 2: Amcow and say, hey, I'd like a location? Like how
22:24
Speaker 2: does buying a pharmacy work.
22:27
Speaker 4: I'm still in the very early days of like deciding
22:30
Speaker 4: so as fire them aware there are your big franchises
22:34
Speaker 4: that will offer some type of funding when you purchase
22:38
Speaker 4: a pharmacy with them, but there are lots of legal restrictions,
22:42
Speaker 4: particularly in Queensland. You can only have like I think
22:45
Speaker 4: it's a maximum of six pharmacies, and you have to
22:49
Speaker 4: be a certain distance apart as well, you can't be
22:52
Speaker 4: side by side with another pharmacy retailer, so there's like
22:56
Speaker 4: certain laws around that that it has to navigate. And
23:00
Speaker 4: no one in my family own a kind of retail business,
23:04
Speaker 4: so it's all very new to me. I don't know
23:07
Speaker 4: much about it, but I'm definitely interested in having conversations
23:11
Speaker 4: about business. I feel like that might be the next
23:14
Speaker 4: set for us.
23:15
Speaker 2: That would be a very I'm given you're so young
23:17
Speaker 2: that I mean, business is obviously risky, like any type
23:20
Speaker 2: of investment, but given you have the background and maybe
23:23
Speaker 2: you find a location that works really well for you,
23:26
Speaker 2: Like that feels like kind of an essential service business.
23:29
Speaker 2: Like that feels like a bit of a no brainer
23:31
Speaker 2: in a way. If you've got the funds and access
23:33
Speaker 2: to be able to do something like that, that's cool.
23:36
Speaker 4: Yeah. I feel like I'm the kind of person who
23:37
Speaker 4: if I put my mind to something and I keep pushing,
23:41
Speaker 4: like I can get there. I just need to believe
23:43
Speaker 4: in myself. And I know that I'm twenty five, so
23:46
Speaker 4: I've got some years in me where I can really
23:48
Speaker 4: invest and put a lot of hard work into potentially
23:52
Speaker 4: owning a pharmacy and building that business up.
23:55
Speaker 2: I can already say that you do the hard work girlfriend,
23:57
Speaker 2: like I can already see this working for your personality.
24:00
Speaker 2: That's crazy cool. I love it. So tell me about debt.
24:03
Speaker 2: I want to dive back into this property conversation. So
24:06
Speaker 2: you have your first investment property. You purchased it for
24:08
Speaker 2: two hundred and fifty K. What's owing on that mortgage currently?
24:13
Speaker 4: Yeah? So, like I said, we had you, I drew
24:16
Speaker 4: the equity out of that property to purchase the next property.
24:19
Speaker 4: Did we currently owe three hundred and twenty thousand on
24:22
Speaker 4: that property?
24:23
Speaker 2: Yeah? Cool? That makes a lot of sense. It's still
24:25
Speaker 2: worth six fifty, so that's a good deal. And now
24:28
Speaker 2: tell me about your second property. I believe you said
24:31
Speaker 2: you purchased it for seven hundred and forty five thousand dollars.
24:34
Speaker 2: What's the mortgage look like on that.
24:36
Speaker 4: We currently owe five hundred and twenty thousand, So a
24:39
Speaker 4: year ago when we bought it we owed five sixty
24:43
Speaker 4: but with then paying money off every week as well
24:46
Speaker 4: as making the minimum payments. So yeah, we've paid forty
24:50
Speaker 4: thousand dollars off in the last year, which is really nice.
24:52
Speaker 2: Look at you, guys, go and is property something that
24:55
Speaker 2: you're going to continue to invest in and you're looking
24:57
Speaker 2: at it going, oh, once we get a bit more equity,
25:00
Speaker 2: like with another property, or is this where that business
25:02
Speaker 2: conversation kind of comes in, because obviously you could potentially
25:06
Speaker 2: use some of that equity to purchase a pharmacy exactly.
25:09
Speaker 4: So at the moment, we're not too sure. I do
25:12
Speaker 4: love buying property, and I think it's a good investment,
25:14
Speaker 4: and obviously we've already got one, so I kind of
25:17
Speaker 4: know what to do and what it's about now. But
25:21
Speaker 4: the only thing is the property market has increased so
25:24
Speaker 4: much since the first investment. I don't know that if
25:28
Speaker 4: I purchase again it will have as good of a
25:31
Speaker 4: luck as the first fund did. So we're just kind
25:34
Speaker 4: of pussing us at the moment. I'm in that bitter
25:37
Speaker 4: space where we're like, we just keep paying extra money
25:40
Speaker 4: off our mortgage. Bring that down. Hopefully the equity will
25:43
Speaker 4: increase and then we can look at maybe a business
25:46
Speaker 4: instead of and another investment. At the moment, no, I
25:50
Speaker 4: love that, and that's why I was asking. But at
25:52
Speaker 4: least you know what you've got your head screwed on.
25:54
Speaker 4: You're like, I don't know if it'll worked the same
25:56
Speaker 4: way it did in twenty nineteen. It's worth some investigating, though.
26:00
Speaker 4: Tell me, are there any other outstanding debts that you have?
26:03
Speaker 4: I only have a hex step.
26:05
Speaker 2: That is cool. How much does a pharmacy degree cost?
26:08
Speaker 4: Yeah, not chief. It was about forty five thousand dollars,
26:11
Speaker 4: So I currently have a thirty seven thousand dollars hex stet.
26:14
Speaker 2: Hey, that's not too bad, especially with your income. That's
26:16
Speaker 2: just going to tick away over time. And obviously your
26:19
Speaker 2: income over time will increase as well, which is very nice.
26:23
Speaker 2: And it could completely go off the Richter scale. If
26:25
Speaker 2: you start becoming a business owner and that changes how fun.
26:29
Speaker 2: Absolutely absolutely so tell me, now, do you have a
26:33
Speaker 2: really good money habit? I feel like you've had really
26:35
Speaker 2: good money habits this entire time. I'm not going to lie.
26:38
Speaker 2: I'm looking at this being like, mate, if I was
26:40
Speaker 2: nineteen and you were my friend, I would have been
26:43
Speaker 2: so envious. Tell me, what do you think is your
26:46
Speaker 2: best money habit.
26:47
Speaker 4: My best money habit would probably be my ability to budget.
26:53
Speaker 4: I think that putting that money away every week is
26:56
Speaker 4: definitely something that I'm good at, and I'm good at
26:59
Speaker 4: holding myself accountable and making sure that I do it consistently.
27:03
Speaker 4: So I definitely say that is my best money habit.
27:06
Speaker 2: What's your worst though.
27:07
Speaker 4: I'd say probably spending money on clothes. I do love
27:11
Speaker 4: a good shopping hall, especially when my favorite retailers send
27:16
Speaker 4: me a text message and say that having a flash
27:18
Speaker 4: sale and I'm like, oh my gosh, you guys know
27:20
Speaker 4: how to get me. So I'll probably say that's my
27:23
Speaker 4: worst money habit where I'd buy clothes online clothes is
27:28
Speaker 4: my worst. I'll buy clothes and I'll do like a
27:31
Speaker 4: hall of clothes maybe once a while.
27:34
Speaker 2: Well, you can FaceTime me. I would love to see
27:35
Speaker 2: your halls. Like, don't get me wrong, I feel like
27:37
Speaker 2: you're still probably is that blowing the budget? Like is
27:41
Speaker 2: that blowing it out? Or are you just like, no,
27:43
Speaker 2: it's not, but I really shouldn't be.
27:46
Speaker 4: Yeah, it's not blowing the budget. But there are from
27:48
Speaker 4: weeks where I would do a clothing buy and I'd
27:52
Speaker 4: really cut myself fine for the week. You know, where
27:55
Speaker 4: you leave yourself with that last five ten dollars and
27:58
Speaker 4: you go, You're gonna have to make this look this
28:00
Speaker 4: that you're the one that did the order.
28:01
Speaker 2: Yeah, you did this to you, You did this to you.
28:04
Speaker 4: Literally, I'm like, now I got a little bit of.
28:05
Speaker 2: It, so I can absolutely resonate with that. In fact,
28:09
Speaker 2: I like still have my emergency funds and stuff. Sometimes
28:12
Speaker 2: I'm like, oh, there's not many fun money left. Let's
28:17
Speaker 2: just see how this week pans out. Tell me, now,
28:21
Speaker 2: at the very start, you said, I reckon I'm a
28:23
Speaker 2: B minus or a bee. What do you think given
28:26
Speaker 2: everything you've told me, what do you think I think
28:30
Speaker 2: A firstly? And then what do you think it would
28:32
Speaker 2: take for you to get to being an A or
28:34
Speaker 2: an A plus?
28:36
Speaker 4: You're probably thinking maybe I'm more of a minus B
28:41
Speaker 4: plus kind of girl.
28:42
Speaker 2: I would say much better than that. Yes, okay, well
28:46
Speaker 2: thank you, that's very night. But like, look what you've done,
28:48
Speaker 2: You're still a child. Thank you.
28:53
Speaker 4: I would probably say maybe maybe like a B plus,
28:58
Speaker 4: maybe a B plus.
28:59
Speaker 2: But what would it take to get to a plus?
29:02
Speaker 4: I think more knowledge. I think I need to learn
29:06
Speaker 4: more about different perhaps of investment, which is I think
29:10
Speaker 4: if I can learn more about where I can put
29:12
Speaker 4: my money, I can make better choices.
29:14
Speaker 2: I can help you with that. We can be best
29:16
Speaker 2: is when it comes to money.
29:17
Speaker 4: That's why I love your podcast. I'm a religious listener,
29:20
Speaker 4: and I've been going back and listening to old episodes
29:22
Speaker 4: as well, because I saw that you have your playlist
29:25
Speaker 4: with like how I listened to the Property Playbook, and
29:28
Speaker 4: then I listen to like how to save for Christmas
29:30
Speaker 4: and how to save for travel now that we've got
29:32
Speaker 4: travel coming, so I can make better choices.
29:36
Speaker 2: Yeah, Love, I'm so excited for you, girlfriend. I'm so
29:39
Speaker 2: excited that you're in my community. You're twenty five, you
29:41
Speaker 2: are absolutely smashing it. You are going to retire, so happy,
29:45
Speaker 2: so healthy, so just everything Like I find this so inspirational,
29:50
Speaker 2: like so many people might be like geez, Louise, I'm
29:52
Speaker 2: twenty five, and that's just not possible for me. And
29:54
Speaker 2: the reality is it is like you just have to
29:57
Speaker 2: pull your finger out and do some work. Start small,
30:01
Speaker 2: and we're not talking about buying our first home for
30:03
Speaker 2: a million dollars like you purchase first for two hundred
30:06
Speaker 2: and fifty thousand. And don't get me wrong, I don't
30:09
Speaker 2: know a lot of properties nowadays that are two hundred
30:11
Speaker 2: and fifty thousand. But it's not like opportunities like that
30:15
Speaker 2: don't exist, but they are only going to become opportunities
30:19
Speaker 2: you could engage in if you have the savings and
30:22
Speaker 2: you have the discipline and you've been working towards it.
30:24
Speaker 2: I think that getting off track these days is so
30:27
Speaker 2: easy because you just go I'm disheartened, I can't be bothered.
30:29
Speaker 2: Why would I even start saving? But like from little things,
30:32
Speaker 2: big things grow money direst you are a perfect example
30:35
Speaker 2: of that.
30:36
Speaker 4: Like how good.
30:37
Speaker 2: I'm just I'm so excited I get to share this
30:39
Speaker 2: with my community. Thank you, thank you so much.
30:42
Speaker 4: And I have friends who are in situations where they're
30:46
Speaker 4: saving for houses and they're struggling because the housing market
30:50
Speaker 4: is so bulletowed and women and prices are so expensive
30:54
Speaker 4: compared to what they were. So I definitely recognize that
30:57
Speaker 4: I got very lucky at the time that I purchase
31:00
Speaker 4: the townhouse. But I do hope that people can listen
31:04
Speaker 4: to this and potentially feel inspired that you can do
31:08
Speaker 4: it on your own. Like I was just nineteen and that,
31:11
Speaker 4: like I, all I did was consistently saved, and I
31:14
Speaker 4: just had to keep putting that money away. And at
31:16
Speaker 4: the time that was maybe one hundred dollars or two
31:18
Speaker 4: hundred dollars a week, but like you said, it grew
31:20
Speaker 4: into thirty thousand dollars, which was a lot for me
31:23
Speaker 4: at the time, and I was like, oh my gosh,
31:26
Speaker 4: I need to put this money into something so that
31:28
Speaker 4: I can actually see my money is going somewhere. And
31:31
Speaker 4: then yeah, from little things, big things grow. And I
31:34
Speaker 4: just hope that maybe someone out there who thinks it's
31:38
Speaker 4: too hard can listen and be like, actually, all I
31:42
Speaker 4: need to do is just start somewhere.
31:44
Speaker 2: Just start one hundred percent. You have to start with
31:46
Speaker 2: the foundations, because yes, property might become a part of
31:49
Speaker 2: the strategy, or the share market might be or there
31:51
Speaker 2: might be other opportunities, but if you don't create the base,
31:55
Speaker 2: and you don't have the foundations, and you don't have
31:57
Speaker 2: savings and you don't have an emergency fund, the opportunity
32:00
Speaker 2: aren't coming because even if they come, you can't seize them,
32:02
Speaker 2: you can't do them. So it's just it's something that
32:06
Speaker 2: I'm obviously wildly passionate about and have been talking about
32:08
Speaker 2: it since twenty nineteen actually, so we're right on par together.
32:13
Speaker 2: But I'm just so excited that stories like this are
32:15
Speaker 2: coming out of my community, and you're so happy to
32:17
Speaker 2: share so that other people can learn. You're an icon.
32:20
Speaker 4: Thank you, Thank you, And I recognize that my parents
32:24
Speaker 4: taught me very similarly to how you speak with the community,
32:27
Speaker 4: and that's why I was like, I really would love
32:29
Speaker 4: the opportunity to come on here, because I feel like
32:32
Speaker 4: more people need to hear about the way the budget
32:35
Speaker 4: and the way to save. And I was very lucky
32:37
Speaker 4: with the upbringing that I had, but I recognize it
32:39
Speaker 4: and that a lot of people had that.
32:41
Speaker 2: No they didn't, but they can create it resources like
32:43
Speaker 2: Shees on the Money, and there are a million different
32:45
Speaker 2: other pieces of content out there. You could engage in. Yes,
32:48
Speaker 2: if you had parents, you were more privileged one hundred percent.
32:52
Speaker 2: But a lot of privileged people do not make the
32:56
Speaker 2: most of the situations that they were in, are in
32:58
Speaker 2: far worse positions than you would expect of them, just
33:01
Speaker 2: because we don't know what we don't know, and we
33:04
Speaker 2: maybe don't seize opportunities in the ways that we could.
33:07
Speaker 2: And I think that, whilst yes, it is so beautiful
33:09
Speaker 2: that you're like, yeah, I want to acknowledge my privilege here.
33:11
Speaker 2: I love that, I really really do, I also want
33:14
Speaker 2: to acknowledge that it wasn't just privilege that got you there.
33:17
Speaker 2: It was hard work and you had to do that
33:19
Speaker 2: because you could have just been like, it's pretty easy
33:21
Speaker 2: living at home. Hey, I'm going to spend all my
33:23
Speaker 2: money on clothes and shoes and makeup and I want
33:24
Speaker 2: a new cup. Those are easy decisions to make. But
33:28
Speaker 2: a lot of what has happened in your life is
33:30
Speaker 2: not due to luck, My love, it is. Yes, we
33:33
Speaker 2: started ahead of the race, that's fantastic, but you still
33:36
Speaker 2: had to do the race.
33:37
Speaker 4: Yeah that's true, that's true.
33:39
Speaker 2: Well I'll let you go, but thank you so much.
33:41
Speaker 2: This has been an absolute pleasure.
33:43
Speaker 4: Thank you so much for having me. I really appreciate it.
33:52
Speaker 5: The advice shared on She's on the Money is general
33:54
Speaker 5: in nature and does not consider your individual circumstances. She's
33:58
Speaker 5: on the Money it exists purely for educational purposes and
34:02
Speaker 5: should not be relied upon to make an investment or
34:04
Speaker 5: financial decision.
34:05
Speaker 2: If you do choose to buy a financial.
34:07
Speaker 5: Product, read the PDS TMD and obtain appropriate financial.
34:11
Speaker 2: Advice tailored towards your needs.
34:13
Speaker 5: Victoria Divine and Sheese on the Money are authorized representatives
34:17
Speaker 5: of Money Sherper Pty Ltd a BN three two one
34:21
Speaker 5: IS six four nine two seven seven zero eight AFSL
34:25
Speaker 5: four five one two eight nine