March 25, 2025 • 51 mins
Think you're too behind to fix your finances? Victoria Devine was once right where you are. Before she was a best-selling author, business owner and the voice behind Australia’s number one money podcast, Victoria was financially stuck, overwhelmed, and winging it hard.
In this episode, Bec puts Victoria in the hot seat to unpack her actual money journey… from the early paydays and panic-spending, to the moment she realised something had to change, and what happened next.
Victoria shares:
💸 The $40k debt moment that made her go, “OK, something has to change”
💸 How ADHD shaped her money habits and the systems that actually helped
💸 The mindset shift that completely changed her relationship with money
💸 What to do when you’re spiralling or just feel totally stuck
💸The one thing she’s seen every financially successful person do
If you’ve ever felt behind, like you’re “just not good with money,” or that you’ve already made too many mistakes, this one’s for you.
Want to start building wealth? Our Investing Masterclass is now open for enrollments... come join us here! Starts April 1.
Acknowledgement of Country By Natarsha Bamblett aka Queen Acknowledgements.
The advice shared on She's On The Money is general in nature and does not consider your individual circumstances. She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs. Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708, AFSL - 451289.
See omnystudio.com/listener for privacy information.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hello.
Speaker 2 (00:01):
My name is Satasha Nabananga Bamblet. I'm a proud or
the Order Kerni Whaltbury and a waddery woman. And before
we get started on She's on the Money podcast, I
would like to acknowledge the traditional custodians of the land
of which this podcast is recorded on a wondery country,
acknowledging the elders, the ancestors and the next generation coming through.
(00:23):
As this podcast is about connecting, empowering, knowledge sharing and
the storytelling of you to make a difference for today
and lasting impact for tomorrow.
Speaker 1 (00:33):
Let's get into it.
Speaker 3 (00:34):
She's on the Money, She's on the Money.
Speaker 4 (00:57):
Hello, and welcome to She's on the Money, the podcast
that reminds you that even the most financially savvy people
have made money mistakes, and today we're talking about them
and we're doing something a little different. Victoria is usually
the one leading the charge, helping us get our money sorted.
What about her journey? Anyone cares about her journey? How
did she go from feeling totally overwhelmed by money to
(01:17):
becoming the finance expert we all turn to. I'm excited
and as always I'm joined of course by Victoria Divine
retired financial advisor. It makes you sound like eighty years old.
Speaker 1 (01:27):
I know, And how else do you explain that? Though?
Speaker 5 (01:31):
Well, retired ex financial advisor. I remember when we were
trying to pick and it's like, oh, well, how do
we refer to you because I'm not legally allowed to
say I'm a financial advisor?
Speaker 4 (01:40):
Sure right?
Speaker 1 (01:41):
Do I say X? And then you might think I
got kicked out of.
Speaker 4 (01:45):
The industry, true, like a criminal, Like like, what did
she do?
Speaker 1 (01:50):
Advisor?
Speaker 5 (01:51):
Anymore's guys, I left willingly, I sold the business. I
stepped out to do this. So retired just makes it
sound a little bit nicer.
Speaker 1 (01:59):
Oh that's her, actually, I think.
Speaker 4 (02:01):
But she's not. You do sound that's true.
Speaker 5 (02:04):
That's okay because a lot of my money habits and
like my personality traits are that of a senior citizen.
Speaker 4 (02:10):
So that's well checks out. Actually, VD is not only
a retired financial advisor, but also best selling author, number
one money podcast host, business owner and the reason we
all know what an emergency fund is.
Speaker 1 (02:22):
Oh, that's very sweet. You didn't have to intro me
like that.
Speaker 4 (02:26):
Well, sorry, but we got to be celebrating.
Speaker 5 (02:28):
I'm not gonna lie I'm really nervous about me. Like
it's funny because I can podcast till the cows come
home and talk about money and like my advice and
like it's like my subject matter topic.
Speaker 4 (02:42):
Right.
Speaker 5 (02:42):
But the second you turn the tables and go can
you talk about you? I'm like, oh, you're like kind
of fumble at I'm.
Speaker 4 (02:49):
Like, oh, totally. And the lights in these studios are
just healthy. I know, I totally get it. Usually we're
just talking about you by proxy.
Speaker 1 (02:58):
Yeah, exactly, but.
Speaker 4 (03:00):
This is all eyes on you. So if it's okay,
I'm just going to like run through a Q and
A with you. O.
Speaker 1 (03:06):
I am nervous, but let's go.
Speaker 4 (03:08):
Okay. So first question I have. You've helped so many
people rewrite their money story, but I want to know
what was your earliest memory of money, and like was
it something you were aware of growing up or did
it not seem like a big deal at the time.
Speaker 1 (03:21):
I have a few early memories of money.
Speaker 5 (03:23):
So I grew up in Tasmania and we used to
go down or up to this beach called Greens Beach
and very family friendly at the time, Like it just
had one general store and that was it. In the
general store sold petrol, it's old golf balls, it had
a fish and chip counter, it had all the lollies,
did everything right. I love those And I remember when
I was younger, my parents used to give us like
(03:45):
we would We'd be let loose, like this was acceptable
at the time. We'd go out onto the rock pools,
like down at the beach and like hang around there,
me and my older cousins, and then we would go
to the general store with our gold coins and we
get hot chips with extra chicken salt, and then we
would take them back to the beach. And I remember
(04:06):
that was really cool because at the time gold coins
felt like lots of money, like they weren't silver coins.
Speaker 1 (04:12):
They were gold.
Speaker 4 (04:13):
Yes, there's something so like, yeah, they're invincible, yea.
Speaker 5 (04:16):
And like that was so cool. But I always remember
feeling a little bit like, oh.
Speaker 4 (04:20):
I really want the chippies when we're at the beach,
but I don't want to ask mom and dad for
the money, because I always felt like that was a
bit like at the time, and I don't know where
this came from, you shouldn't ask for money, like you
shouldn't ask for it.
Speaker 5 (04:35):
But I mean, as I got older, I definitely asked
for it. And then another moment that I have that's
in my brain that you know, I would say, is
maybe a negative association with money again it was about
asking for money from my parents. Was when I was younger,
and I was probably in like maybe grade two or
(04:56):
three at school and I came home and my mum
used to get a little bit grumpy at me when
I didn't give her the forms that I got at school,
like they'd just sit in the bottom of my school
bag for ages. And some of them was genuinely because
I forgot, but other times it was because I didn't
want to give it to her because it was like, oh,
(05:16):
we need to, like do I don't know how much
it was, because like I never remember, but like maybe
it was like twenty dollars for like a school excursion
or something.
Speaker 1 (05:23):
And I used to just get.
Speaker 5 (05:24):
The itch even in grade two about pulling it out
and being like, oh, Mom and Dad, like I need
money for this sixcursion. Like it just never felt comfortable,
and that might just be me, or it might just
be you know, how I've grown up around money. I
don't know, but that's yeah, I would say two of
my earliest memories around like money.
Speaker 4 (05:45):
You sound like a dream child. I feel like I
was constantly even though we were like perpetually broke, I'll
constantly ask you for money. It had no concept of outwork.
Speaker 5 (05:53):
Yeah, but I think that comes from like and that's
so fine, and like it's not a good or a
bad thing. But I think I could tell well in
a way that money at the time might have been
stressful or significant. Yeah, it definitely had some significance. Like
I couldn't tell you what was going on or why,
but I knew that it would add pressure. And I
just remember that feeling of not wanting.
Speaker 4 (06:14):
To add pressure. They're so sweet.
Speaker 1 (06:17):
I don't know.
Speaker 4 (06:17):
Yeah, no, that's fair. Okay, I have another question, if
you're ready. I feel like I should have been given
these questions in advance. I could have prepared, but here
we are. Yeah. No, that's true.
Speaker 5 (06:27):
But it sometimes it's better to just like yolo. I mean,
you're just getting it raw. I mean that's what you
probably want anyways, that's what I want.
Speaker 4 (06:35):
I want to raw. What's the most valuable money habit
or belief you picked up early in life that still
makes sense today.
Speaker 5 (06:41):
I like that you've said still makes sense, yeah, because
it doesn't mean I did it, but I was taught
this from a young age, so.
Speaker 4 (06:47):
It's kind of a pun.
Speaker 5 (06:48):
Yeah, my dad was a accountant or is an accountant.
Speaker 1 (06:53):
I don't know if you ever stopped being an accountant, and.
Speaker 5 (06:56):
Growing up, he always said, always save the first five
percent your paycheck and pretend you don't have it, because
if you start that habit early, you will always not
have that money and you can always just save it.
And as your income increases, that five percent goes through
being like four dollars to forty dollars and like that
will increase.
Speaker 1 (07:16):
And that's always stuck.
Speaker 5 (07:16):
With me because it's kind of about this idea of
paying yourself first, and he used to like drum that
into us, Like when I got my first job, he
was like, Okay, make sure that you're saving. Did I
do it, though, beck No? No, So, like that is
a money lesson that I have had with me for
a long time that potentially I didn't actually implement.
Speaker 1 (07:37):
Sure is that answering their question? No, absolutely, because I.
Speaker 5 (07:40):
Can't think of something that I'm like, yeah, I've always
been good at money and I used to do that,
Like I haven't been good at money sure, like I
am now, And I think that that comes down to
two things. One obviously discovering my money story, being able
to get on top of it, being able to have
these open, honest conversations, and like being comfortable getting on
top of it, but also honestly having a little bit
(08:02):
more of it, like having the cash flow to support
the lifestyle, because I genuinely don't know what would happen
if I was earning the income that I used to earn,
whether I would have at some points to come to
being like, look, I really want to do this other
thing and gone into personal debt or something, just because
that's like, that's my personality, Like it's inherent in who
(08:25):
I am to be relatively impulsive.
Speaker 1 (08:28):
Yeah, no, that makes sense. So I don't want to
say to people.
Speaker 5 (08:31):
I'm perfect and now like I've recovered from being in
debt and you know, I'm not in debt anymore, and
I am you know, the holy grail of savings and money.
Like I get that that's what I share, but I
also think that we need to remember that I'm just
a girl, Like I am impulsive, Like I can resonate
(08:52):
with a lot of things when people like I'm in
after pay debt, I'd be like, okay, well I've never
been in after pay debt. But I fully understand that
if I was in that financial position and I still
wanted that stuff, do you know what come midnight and
I'm still on my phone, maybe I would have given.
Speaker 4 (09:05):
It a crack, like yeah, yeah, exactly, you totally. Also,
I feel like there's like something in when you've been
in debt and you get out of it and the
fear of egg.
Speaker 1 (09:16):
It's so scary, but it makes me feel sick.
Speaker 4 (09:18):
Totally. Same even if I get like a debit success
email because my anytime fitness thing didn't work, I get
stressed anxious.
Speaker 5 (09:25):
Yeah, so like I do the same thing in the
uns Like it's funny. I actually got a call yesterday
because I missed an invoice. Yeah, and it was for
like two hundred dollars. That wasn't like it was a
business invoice. I just it was for my being completely transparent,
It was for my accountant because I have lots of
different entities. I have lots of different fees that I
pay for different things, and like, honestly, I just missed
(09:46):
it and the lady called me, and I I won't
say I freaked out, but I was like, oh my god,
I'm so sorry, like just like, oh, it's just three
hundred bucks. I'm just following up on, you know, the invoicing.
You're like, you know, you don't usually miss any of them,
and like con text, I paid tens of thousands of
dollars a year in accounting fees. That's just part and
parcel of running businesses, having what we do right, and
(10:08):
so this two hundred dollars shouldn't have been an issue.
Speaker 1 (10:11):
I felt sick.
Speaker 5 (10:12):
I immediately am talking across the room to Sarah and
I was like, Sarah, can you please look at my emails,
like can you please find it? I can't seem to
find it because I was frazzled looking my emails trying
to find this invoice that I hadn't paid, and I
was like, it's in there, can you please look it up?
And then you know, she couldn't open it on her
computer because it had timed out. Well, email them, email
them and find out what it was. Like yeah, I
was just so and I'm like, can you pay it now?
And she's like, yeah, I think I can pay it now.
(10:33):
I was like, yeah, do that do that.
Speaker 4 (10:34):
Like, I just hate the idea that I would owe
somebody money. Yeah, Like I won't say that that's trauma,
but it can sometimes feel that way. Yeah. No, I
totally get that. There are lots of people that have
a lot worse things going on, but it's like it
triggers that fight or flight in you because you know,
you know that feeling.
Speaker 1 (10:54):
Yeah, I felt sick and yeah, could if thord it? Yeah,
like I can, I can afford.
Speaker 4 (10:57):
And that's so nice now, But I think in those moments,
you forget where you've been and what you've come from,
and you just go.
Speaker 5 (11:05):
Oh my god, I owe someone money and I didn't
transfer it. Oh no, Like I genuinely was real frazzled.
Oh my god, I completely get that.
Speaker 4 (11:12):
So relatable. Okay, my next question for you. When you
first started making your own money, how did you handle it?
Speaker 5 (11:19):
So my first job was working at an ice cream
shop on the Mornington Peninsula. I thought it was a
coolest job ever.
Speaker 4 (11:28):
Weird boss, who Now I look back, you shouldn't have
been managing people. But okay, I would say poorly, but
I had a good time. Nice poorly, but I had
a good time. Like I was young, I was fourteen
years and nine months. I had some income coming in.
I didn't know at all what superannuation was. I didn't
know how tax worked, and at the time, I don't
(11:49):
think I cared, because I think once I learned that
it got taken out before I got my money, I
was like whatever, Like I don't care.
Speaker 1 (11:56):
I would save up my money.
Speaker 5 (11:59):
And the closest big shopping area was Frankston at the time,
and if I was lucky, Mum would let me catch
the bus after school to Frankston with a couple of
my girlfriends, where we would go to so Prey and
look at all of the stuff at the Prey and
get our pink tote bags. And I remember the headbands.
(12:22):
I think they were like four ninety nine, like the
really skinny headbands with the boats.
Speaker 1 (12:26):
Do you remember them. They were made of elastic. I
had so many of them.
Speaker 5 (12:30):
I at the time really liked the slogan T shirts
there because they had like, I don't know, weird slogans or.
Speaker 1 (12:37):
Semile T shirts. Yeah, yeah, yeah, I can remember that.
Speaker 5 (12:41):
And I've always been into clothes and fashion and stuff.
And then there was this other store I can't remember
what it was called and I wish I could, but
it was like I want to say, Joanne Lee or
something like that. Yeah, it sold. Do you remember the
brand face Off like they did like face Off jeans
and familiar. They weren't super expensive, but for me at
(13:03):
the time, they definitely felt it. And all the cool
girls wore those chees that real low rise, like sometimes
a bit of a flair moment. And so I spent
my money on that. I would spend my money at McDonald's.
So my friends and I would go to McDonald's. Oh
you got to school, oh yeah, And at the time,
I remember like it was a four dollar meal deal,
(13:24):
Like it was a chicken and cheeseburger, a small chips,
a small coke, and a Sunday for four dollars.
Speaker 4 (13:28):
Oh my god, bargain, I know, right.
Speaker 1 (13:30):
Good deal. So we'd go do that.
Speaker 5 (13:31):
I used to go to the movies a lot like
that was always like a good activity.
Speaker 1 (13:35):
Growing up on the Peninsula. There wasn't a lot.
Speaker 5 (13:37):
Of activities you could do after school or like a
bud village yep, go down to the plaza. So all
of my money, honestly, it wasn't on big things like
I can't ever remember going. Oh, I saved up all
of my money and spent it on X. I remember
at one point my parents matched me because they really
wanted to promote my savings, and I got an iPod
(13:59):
Mini c pink iPod Mini. So I would say that
was probably the biggest thing at the time that I
had saved for. But all my money just went because
like at the time, maybe I was earning like fifty
to one hundred dollars a week with my part time
job like max. Yeah, but all of that in a
week would go on, like you know, little accessories and
(14:19):
stuff a' to prey and going out for you know,
after school things with my friends to McDonald's and the
movies and just gone, just gone.
Speaker 1 (14:28):
So was I good at money?
Speaker 2 (14:29):
No?
Speaker 5 (14:30):
But no, I's just enjoying my teenagehood. I suppose you're
just a tiny baby.
Speaker 4 (14:35):
Yeah, you enjoy the finer things.
Speaker 5 (14:37):
Yeah, the finer things being a McDonald's chicken and cheeseburger
four meal deal.
Speaker 4 (14:41):
I would argue those are still the finer things.
Speaker 1 (14:43):
Yeah. Do you know what if that was still for
like that was a.
Speaker 4 (14:46):
Good deal, all I'd be eating fials. I feel like
sometimes it is for dollars, like I feel like they
haven't including the Sunday. Oh maybe not including the sun.
Speaker 1 (14:55):
But the Sunday was like the literal cherry on.
Speaker 4 (14:58):
Yeah, that's true, that's Truectually. I'm curious about what flavored
Sunday you go for caramel always, I viscerally, like in
my gut, I knew you were going to say, Cary,
you did, but I was like, that's outrageous.
Speaker 1 (15:08):
Do you know what Jessica Briechi picks.
Speaker 4 (15:10):
She's strawberry.
Speaker 1 (15:10):
She's Oh my god, what you saw.
Speaker 4 (15:13):
I didn't even know you guys.
Speaker 1 (15:14):
Yeah, it's like you're inside our brains.
Speaker 4 (15:17):
Yeah, okay, before you had your money sorted, Yeah, what
was life actually like? What were the biggest money headaches
for you back then?
Speaker 5 (15:25):
So I moved out of home when I was eighteen,
and I moved out because I wanted to go to
university and I lived on the Mornington Peninsula and at
that point, the big freeway hadn't been built yet pink no, no,
Peninsula Link wasn't a thing yet. So to get from
my house like where I lived with my parents, which
I definitely could have stayed in, like they were very
(15:47):
generous to get to the city was about an hour
and a half, right, And I really wanted to go
to university, and so made the decision to move out.
And I moved out with a couple of housemates, just
people I went to school with at the time. We
got an apartment in South Bank, and I think my
biggest struggles were.
Speaker 1 (16:05):
Rent and food and managing all of that.
Speaker 5 (16:09):
I just remember the rude shock of having to pay
for everything that I hadn't really thought about before. Yeah,
and like, I mean, it's not like it is today.
Things were much cheaper, Like olive oil was just olive oil,
it wasn't liquid gold. But having to buy those like
household items like washing machine liquid and you know, at
(16:32):
the time, vacuum cleaner bags. Oh yeah, vacuum cleaner bags everything.
I remember being like what the hell, like this is full,
and then realizing that they were actually super expensive. And
then I remember spending like a whole afternoon pulling all
of the junk out of the vacuum cleaner bags so
I could reuse it. Yes, and so yeah, money wasn't
in abundance. But I also worked really hard, So like
(16:56):
I'll give myself credit for working really hard. So while
I was at university, I was working like three jobs.
I was working at least forty hours a week. But
even though I had that income coming in, I can't
tell you where it went like it went on my lifestyle.
It went on, you know, city, paying for clothes, paying
(17:18):
for shoes, like I always was, and I would say
still and well dressed, but to a downfall at that
point in time. So you would have looked at me
and been like, oh, she has her stuff together as
a first y UNI student, But like I was living
very week to week. Was I ever in you know,
serious significant financial struggles? No, and like I've always had.
(17:40):
I want to call it the bank of Mum and Dad,
but you know, my parents aren't so well off that
I could just call them that. It wasn't ever a
comfortable call. But there were definitely a few times where
I was like, do you think I can borrow one
hundred dollars? Or can you please help me here or there?
And I'm so grateful for that help, but it would
be a missed to not mentioned that I had that
in the background. But I think having that meant I
(18:02):
felt safe not to be responsible, yeah, if that makes sense.
Like I didn't feel like I ever had to worry
about an emergency fund because like, at the end of
the day, yeh, it's uncomfortable, but I could call my mum,
Like at the end of the day, I called X
y Z. So I always kind of had that fail safe. Yeah,
and like it felt icky, Like I never liked it,
(18:23):
but it definitely was something that I, yeah, nice to
have the back of your head. Yeah, totally, And I
think we need to talk about that because so many
of us end up in a situation that we're not
super proud of, but like we just don't really know
how we got there, and like I know how I
got there. But yeah, my entire journey was I would
say comfortable. But like first, ye university, I was working
(18:46):
three jobs. I was working two hospitality jobs and a
retail job on a Saturday because I want to double
and a half time rates, so I didn't have much
free time. And then in between all of that, I
would actually do like sessional swim teaching in the mornings
and stuff before UNI sometimes cool, but yeah, so I
(19:06):
had income coming in. But I would say that even
with all of that work, it was at the time
minimum wage. And I think my tax returns probably said
it would be between twenty five and thirty thousand dollars.
Speaker 4 (19:17):
Wow.
Speaker 1 (19:18):
Yeah, so not mass amounts. I see.
Speaker 4 (19:20):
Yeah, Okay, Now I want to know was there a
specific moment where you were like, no, this isn't working
for me. I need to sort this out or was
it like a process.
Speaker 5 (19:29):
It wasn't early on, it wasn't at UNI or whatever.
It was definitely once I got my first full time job.
So when I've got my first full time job, I
had finished two degrees and had just started kind of
like dabbling whether I would do like a master's degree
or not.
Speaker 1 (19:46):
I did a lot of.
Speaker 5 (19:47):
Like graduate interviews because I really wanted to work in
organizational psychology, and I was dabbling in like you know,
interviewing at Deloitte and doing all these other things. And
then I got offered the role that I got offered,
which was not a graduate position. It was a consultant role,
and like I thought, I'd hit the jackpot because like
that was like the step above graduate, and I felt
(20:09):
like I could turbocharge, if that makes sense. Like, yeah,
I jumped something like it was like snakes and ladders,
and I'd hit a ladder and I jumped up and
I remember my and I found it the other day
because I was talking to one of the teammates and
I was like, I, reckon, this is in my email,
like my first employment contract, and it was fifty five
thousand dollars a year including super Yeah, and I felt rich,
(20:29):
Like I genuinely felt like that it was the most
amount of money I'd ever earned in my entire life.
But I think that dynamic change of not being a grad,
not having other grads around me, I went straight into
the big swimming pool of the consultants who were in
their mid thirties forties, and I saw them and I
(20:50):
thought they were doing so well. And I did definitely
play into and this is only in retrospect. I didn't
know I was doing it at the time, playing that
like keeping up with the Joneses mentality of like they
have really nice suits, I really probably should get a
nice suit, and like the stuff that I was wearing
at the time, Like I would mainly shop at like Portman's,
and I would go to like Zara and then like
(21:12):
match it with like cute kmart tops and singlets, so
like I was good at finding stuff. But then I'd
see people in like Shinier suits, and I'd be like, oh,
I really probably should invest in a really good suit.
And I've said this before, and I think that's because
that's my big purchase that was kind of pivotal, Like
it was kind of like a it made me feel
(21:32):
so good, Like I bought this suit. It was navy blue.
I bought the skirt and the pants of it that
matched the jacket. Because the jacket was so expensive, I
was like, I need to get like maximum wear out
of this, and it was from Saba and it probably
cost me like six hundred dollars, right, and at the time,
that's an astronomical amount of money. Yeah, but also in
(21:54):
comparison to that salary, like that's not I don't know.
I look back and I go Victoria divine, Like that
was very irrisp constable. I don't regret it because I
did feel really good and it gave me a lot
of confidence. So like, you've got to weigh up the
pros and cons. But yeah, I think for me, that
was the downfall of it. At that point, I was
still functioning completely in cash, so I paid cash for
that off my debit card. But after that, I remember
(22:17):
applying for a five hundred dollar credit card. Yeah, and
I got that, and then I remember pushing that up
to one thousand dollars. And then because it was like
the start and I mentioned just before I was thinking
about doing my masters, I then enrolled in a Master's
of Business Administration. So I did my MBA and as
a part of that program, I think it was maybe
(22:37):
like almost twelve months after I started my full time gig,
I got the opportunity to do like a secondment semester
in France. Cool, right, very cool, And that was only
offered if you like met certain criteria and had like
certain grades and whatever. And I was like so excited
and like I'd applied for it, I think, kind of
not assuming I would get in. And then when I
(22:59):
got in, it was like this mad scramble of I
really want to go, but I can't afford to go,
and there's no way, Like this isn't one hundred dollars
for a mum and dad. Like I'd done my maths
to like study abroad, I was going to have to
take leave without pay, Like what do I do about
the house that I live in? Like do I keep
my rent or not?
Speaker 1 (23:17):
Do I?
Speaker 5 (23:18):
You know, like there was a lot of questions how
was I going to afford accommodation overseas as well as
like living expenses and not being able to work, Like
how do we work that out? And then on top
of that, it was in my head, I'm like, well,
I haven't really traveled properly before this. Should I also
do a holiday on top of that? And then you know,
(23:40):
the conversation of a personal loan came into it, and
I decided, Okay, well I could just get a loan
for this and I can deal with all of this later.
And I ended up getting a personal loan. And at
the same time, my car was dying. Yes, so I
had all of these big expenses and I needed a
new car. And in retrospect, like you know when you
look back on things and you're like, I should have
done that so differently, like what are you doing? But
(24:02):
it all made sense at the time. I needed a
new car, I needed to go to France. I also
wanted to add on a bit of a holiday.
Speaker 4 (24:08):
Yeah.
Speaker 5 (24:09):
Ultimately I took out a forty thousand dollar personal loan
and I wish I didn't do. I regret going to
France and doing the things that I did. No, absolutely
not like I had the best time. I made some
incredible friends. I have these beautiful memories. I don't regret it.
But when I say I regret the debt, it's not
(24:30):
because I regret the things I spent it on. Yes,
I've got literally nothing to show for it, But I
really feel the pressure that I was under when I
returned home was so immense that it impacted my mental
health and like how I felt and how I couldn't sleep,
and it made me not eat, and like all of
these other things, Like I just I didn't know how
(24:50):
I was coming up with that eight hundred and eighty
three dollars every single month to pay.
Speaker 1 (24:54):
That debt off.
Speaker 4 (24:54):
Yeah jeez, And like the idea that I was paying
that off, but like the debt never went down, like
that was the minimum, and like when am I going
to get out of this?
Speaker 1 (25:03):
Is this forever?
Speaker 5 (25:04):
And then like you extrapolated out and I was recently single.
I'd come out of a very long term relationship. The
boyfriend that I had had before I went I was
in a relationship with for seven and a half years.
Oh wow, And I think it was all of that combined.
I was like, no, I deserve this I'm going to
do something for me, and I took out this really
big loan and then I just couldn't sleep, I could eat,
(25:25):
I couldn't do literally anything. It was I would say, crippling.
Oh yeah, and like if you've never been in debt,
you don't get it.
Speaker 1 (25:33):
Yes, you don't get it.
Speaker 5 (25:34):
And it's like you've done something wrong and you're up
at three am just ruminating on it. Like it's that
feeling of like what am I going to do? How
am I going to do it? And like everything's worth
at three am, but like that's when you wake up
and think about it. So I was having really bad sleep,
I wasn't performing well at work. I was just anxious
all the time, but also still wanting to keep up
(25:56):
with my friends. Oh man, So my friends didn't know
I was in debt. No, and they'd be like, do
you want to go out for dumplings? Of course I do,
but yeah, what do you do in those situations?
Speaker 4 (26:07):
I know, I know, I completely get it, and I obviously,
as you know, have been there. Okay, Vid, I'm going
to give you like a few moments to just reset
and let's go to a quick break on the flip side,
I'm going to ask you some more questions. But I
do understand the anxiety around talking about debt, So I'm like.
Speaker 1 (26:27):
I'll let you have a little sit.
Speaker 4 (26:29):
You're feeling anxious now, but at the time, oh my goodness,
oh my god, I totally get it. Okay, we'll be
right back. Welcome back everyone. How are you feeling? Oh,
I'm fine, yeah, fine, It's interesting. I'm like, I want
to share this about how do I articulate myself. I
(26:50):
don't worry about that, no, but I want to give
you like all of the like oh and I was
doing this and like, oh this added to it, and
like I was going out of a relationship, and I
think we can all relate to, like, yeah, coming out
like I wanted to treat myself like I don't know absolutely.
Speaker 1 (27:02):
It's also like triggering memories for me.
Speaker 5 (27:04):
And I'm like, oh and oh, and so this is
probably a really disjointed podcast, So I do apologize.
Speaker 4 (27:09):
Well, I'm enjoying it personally. Okay, Okay, so you've had
your oh my god, I need to fix this moment.
You've made the first move. But then what did things
finally start falling into place? It was like a total
mess before it got better.
Speaker 1 (27:21):
When you got out of debt, or when you were
working out.
Speaker 5 (27:24):
We did it just all you woke up one day
and it fell into place back personally, God, No, I
sure journey eally, and I don't think there's ever it's
going to fall into place moment.
Speaker 1 (27:36):
Yeah, I think I just had this realization.
Speaker 5 (27:39):
It was when one of my best friends shared with
me her saving skull. I remember I was at brunch
and it was an expensive brunch and I was picking
the cheapest thing off the menu at the time, and
I remember her talking about wanting to do like I
can't even remember what it was like. The thing that
sits in my head is I could tell you exactly
the table where were sitting at at brunch and where
(28:01):
we were. I can't remember what her savings goal was for,
but I remember being shocked that she had savings, Like
I remember being like, wait, what, You're not like me.
I lived with this girlfriend, like she was my housemate
at the time. Yeah, And I remember being like sorry, what,
Like you have savings? I thought we were both Like
I knew that I had debt and I hadn't told
(28:21):
anybody about that, And I don't think I assumed she
had debt, but I didn't think she had the capacity
to save because we had not the same jobs, but
similar jobs.
Speaker 1 (28:29):
Like yeah, similar, what do you mean what?
Speaker 5 (28:33):
And I think that was a very like for me,
it was very confronting because we had very similar incomes
and what do you mean you have a whole heap
of savings and you're going to go to Europe and
or you know, like that feeling of oh okay, And
so for me that was a bit of an eye opening,
like I probably should work on debt. I didn't immediately
(28:53):
start getting out of debt, but I was really seriously going,
I need to do something about this. And so at
the time I did not believe that I could get
out of debt on my own. I was googling what
does it mean to go bankrupt? And that doesn't mean
that I was in that exact situation, but I didn't
know anything about money. I was googling what does it
mean to go bankrupt? How would that impact me? Like
(29:15):
at the time, I didn't have, you know, a business.
Speaker 4 (29:18):
Or anything like that, and I was working in this
organizational psychology role in a consulting space, and like I
knew that financial advisors existed because like some of our
clients were financial advisors, and so I was like, Okay,
maybe I'll go see an advisor. And I did all
my research and I went and saw a financial advisor
(29:38):
and he was at the time lovely, but then he's like, okay, like,
let's put it on a white board.
Speaker 1 (29:44):
How much debt have you got?
Speaker 5 (29:45):
And I felt really judged, but I told him, and
he put it on the white board and like drew
up some things and basically told me that like I
wasn't a good client for him.
Speaker 4 (29:54):
Ah, that's nice.
Speaker 5 (29:56):
Yeah, And I was kind of there going, oh, I
was happy to spend money to have a plan to
get out of debt because I just didn't I couldn't
see the light at the end of the tunnel. I
didn't know what to look up. I didn't know like
I thought this was going to be the thing that
solved it for me. And I walked away from that
meeting feeling like trash. I felt like I'd wasted his time.
I felt like and at the time, I did feel
(30:19):
like I'd wasted his time, like I wasn't in this.
Oh my god, what a rude person, Like I felt
awful and so yeah, that all happened, and then I
was like, well, maybe no one's going to save me,
Like maybe I have to do this myself. And I
started like looking things up on YouTube, and like, you know,
I learned about the Snowball method versus the Avalanche method,
(30:39):
and I was like, oh my god, there are all
these people like the debt free community and they are
talking about it. And then you know, there was a
whole heap of other stuff going on in my work
life where I was secondered to a financial advice business
and I was doing some engagement work for them, and
I realized that their work was way cooler than mine,
Like mine was about impact, right, Like I was engagement
(31:00):
and I could like sort of measure that, but like
they were like sitting clients down and showing them like
these plans, and I love a plan. I'm so type
A like I love having a plan and I can
show a client where I'm getting that from. And I
could see that their clients were really happy, and I
kind of wanted to learn more about that. So originally
it wasn't necessarily about getting myself out of debt, but
(31:21):
I kind of put the two and two together again
in hindsight and was really interested in that because I
think it benefited me at the time. And then when
I realized, okay, you can create a plan. Okay, I
can't just keep paying this eight hundred and eighty three
dollars off every single month and think I'm getting ahead.
I need to create a plan where I can pay
off some more. I was considering things like weekend work
(31:41):
and like, you know, trying to work that out. And then, yeah,
I think that was my moment of working out what
I needed to do. And I think that realization that
I couldn't just pay off the minimum and that would
be okay. I had to actually throw a lot more
at it. Yeah.
Speaker 4 (31:56):
That was confronting and hard, and I wasn't out of
debt like no, of course, it did feel like I
was in a bit more control. Yeah. Yeah, So at
some point VID took the leap and kind of like
turned into finance, which is so funny because I feel
like finance at that time was maybe like a bit
anxiety in guy it was, but I genuinely felt like
(32:16):
by helping other people, I felt more in control of
my money. Yeah, because I was forcing me to walk
the walk. That makes it any way like, still nobody
knew about my debt.
Speaker 5 (32:24):
I hadn't told anybody Like this was still very like
secret squirrel, Like I was very ashamed of this. This
wasn't something that had you asked me if I had debt.
But I think I would.
Speaker 1 (32:35):
Have lied to you.
Speaker 4 (32:36):
Yeah, that's so fair.
Speaker 1 (32:38):
Like am I proud of that?
Speaker 2 (32:39):
No?
Speaker 5 (32:39):
But yeah, I think I would have lied to you. Yeah,
Like I think I would have been like, no, I
don't know what you're talking about.
Speaker 4 (32:44):
Oh, absolutely, because there's such a stigma around like Jay,
keep go boss, Yeah, there is a stigma which we
are trying to change every single absolutely we are.
Speaker 1 (32:52):
But like, how do I change it If I'm not
going to be honest about it?
Speaker 4 (32:55):
I know that's it. But no, So you took the leap,
And I wonder, like, if there's someone listening to this
they weren't thinking about making a big career change, what's
the best advice you've got for them?
Speaker 1 (33:04):
Make a plan?
Speaker 5 (33:05):
So I took the leap for a plethora of different reasons,
Like I wasn't feeling like the engagement stuff was as
nourishing as it could be. I wasn't saying things like
that though I was just not feeling comfy with it.
And I was like, you know, peeving across the fence,
being like, what are other people doing on their job?
Looks really interesting, and like I did have the privilege
(33:26):
of like, that'syconment, so I could see what other people
were doing literally in the office I was in, and
I was like, I could definitely do that, and I
took the leap into finance, but it wasn't, you know,
an uncalculated risk ultimately, I so the first role I
took in finance was for someone else, and I was
managing their HR and like recruitment and engagement stuff inside
(33:48):
of financial advice business, and that was agreed upon because
I really wanted to be in financial advice, but obviously
I wasn't an advisor. And while I was helping with that,
I was studying to be I'm a financial advisor, and
I was finishing off my MBA at the same time,
so I was doing all of that, and I think
because I was doing my MBA, which is a Master's
(34:08):
of Business Administration, it was a lot about running a
business and operating a business because I kind of knew
that's what I wanted to do. Like winding back I
had at the time the opportunity to do my Masters
of Organizational Psychology or my Masters of Business Administration, and
I was actually working in that consulting role. That meant
(34:29):
I probably didn't need my Masters of bogsite because I
was already in the space working, So like, why would
I go and get the degree that would let me
get that job when I already had the job. So
I kind of decided that the MBA would make sense,
and through that learned a lot about managing a business,
what that would look like, and I think that pushed
me into going, no, you really do want your own
(34:50):
business at some point. So yeah, one thing led to another,
and I knew that once I became a financial advisor,
I didn't want to be a financial advisor that just
worked for someone else. I wanted to be a financial
advisor that had her own business. And so I think
from the get go there was a lot of research
into well, what does that.
Speaker 1 (35:08):
Look like, how much does that cost?
Speaker 5 (35:10):
And like I wasn't able to do that immediately, like
I was working for another financial advisory practice at the
same time as like building this up, But that was
all very transparent, I think because I've always been quite
headstrong if I want something like, I'm not going to
skirt around it and going to be like, hey, bex,
So I was thinking, this is like ultimately what I
want to achieve, but obviously I can't do that right now?
Speaker 1 (35:30):
Do you reckon?
Speaker 4 (35:31):
We could do abcdn Sure, And that's what happened. That
is so cool, And I think you've just got to ask, yeah, like,
and if you want to make a really big career change,
make a plan like, yes, you might have to take
two steps backwards, but like ultimately it might shotgun you forward. Absolutely,
you're climbing a ladder that you want to climb. Snakes
and ladders, baby, Exactly when you started making more money, yeah,
(35:54):
how did you keep yourself from slipping into old habits
and letting lifestyle creep take over good?
Speaker 3 (36:01):
I didn't.
Speaker 5 (36:01):
When I started making more money, I was contributing more
to my debt. But at the time, my debt honestly
felt like a burden still, Like I was just like
I didn't want to be putting money towards it. I
didn't see it in the way that I see debt now.
Like if you're in personal debt and you you know,
said to.
Speaker 1 (36:17):
Me V what do I do.
Speaker 5 (36:18):
I'm like, okay, cool, Like, let's make a plan and
everything that you're paying off your debt. Beck like, that's
you proving to yourself that that is one day what
your savings will be.
Speaker 6 (36:27):
Yeah.
Speaker 5 (36:28):
Like, I didn't see it that way, and I wish
that I had someone that like was like, hey, like
this is actually really good habit setting and like, look
at what you could do into the future.
Speaker 1 (36:36):
I didn't see it that way. So was I amazing
at money?
Speaker 2 (36:39):
No?
Speaker 5 (36:40):
I think I was still very much living week to week.
I did start saving some money, though. Should I have
been saving while having debt? No, but I'm not gonna lie.
That made me feel really financially secure. And so ultimately,
once I, you know, learn a lot more about finance,
and you know, I'm working in this financial advice space,
it's kind of like the plumber that has a leaky tap.
(37:01):
Just because I knew the right thing to do did
not mean I was doing it right. I knew that
I probably shouldn't be sitting on a whole heap of
savings when I had debt, because if you have debt
and you have savings, you don't have savings. So ultimately
I did end up transferring most of that to my
debt pay it off and keeping like a little emergency fund,
because I thought that was really important. And the reason
(37:24):
that was so important to me was I wasn't like
buying into that debt cycle anymore. Like whenever something popped up,
I had the cash for it, and I didn't have
to like put it back on my personal loan or
I didn't have to put.
Speaker 1 (37:36):
It on a credit card.
Speaker 5 (37:37):
And like, I remember learning about this like snowball and
avalanche method and stuff, and I was like, Okay, cool,
you know what I'm going to do this month. I'm
going to do minimum repayments on my personal loan and
I'm actually just for the next two months or however long.
I can't remember how long it took me. I'm going
to pay off that credit card because the credit card
wasn't massive, but it was a lot. And then I
closed it and I remember being like, oh my god,
(37:57):
I now only have one debt like that, It's so good. Yeah,
And so I think that for me was like that.
I started being a little bit more aggressive, and I
started seeing cash that was coming in as an opportunity
to get out of debt. Sooner as opposed to oh yeah,
I can treat myself. But it was hard to change
that mindset. And even once I got out of debt,
(38:18):
I won't say that I was incredible at money management.
I remember being like, hey, hold on, hold on, hold on,
I've been out of debt for like six months and
I've got nothing to show for it. And that's that
point where I had to sit down and go, I
need to create a money management system because ultimately I
can't be trusted like I have ADHD. I'm incredibly impulsive.
(38:38):
I've known that about myself since I was eighteen nineteen.
I've been medicated since then, so I'm not, you know,
someone who got a late diagnosis. But I didn't know
how that impacted my money. Like at the time, you
just don't know what you don't know, and like I
still had that stigma in my head that I was
that boisterous boy in grade two who's swinging on their
(39:00):
chair and being told to like sit down and stop
yelling in class. Like that was my idea of what
ADHD was, even though I'd been diagnosed with it and
had been told outright it manifests differently in women. I
was like yeah, cool, you should say that to make
me feel better about this.
Speaker 4 (39:14):
Yeah, exactly, who knows?
Speaker 5 (39:16):
So, yeah, I wasn't good at it, And it wasn't
until I created a money management system where I was like, Okay, cool,
I'm going to automate this and do this and every
single week I'm going to transfer this to this like.
It wasn't until then that I actually started getting quote
good at money, right right.
Speaker 4 (39:32):
That was after I realized that just being out of
debt didn't make me good at money, which was annoying.
Oh yeah, that's a really was like I got out
of debt though, Yeah, you shouldn't be done now, like
this is here, We're done, I should be rich exactly exactly.
So you've seen so many people's finance up close, Yes, Lucky,
what's one thing that all financially successful people seem to
(39:55):
do differently?
Speaker 5 (39:56):
Financially successful like we're talking about do you want to
know about like the rich people? Is that what you're
talking about? Are you just talking about people who are
just like good at managing money? We can talk about both.
Speaker 4 (40:06):
I think it's really just people that are good at
managing finances and they're just like comfortably wealthy I'm not
too fussed on them.
Speaker 5 (40:12):
Yeah, so comfortably wealthy. And I've had the privilege of
working with some incredibly wealthy people like I have. I
used to work in the ultra high net wealth space,
so minimum of ten million dollars investable.
Speaker 1 (40:24):
And I have had two.
Speaker 5 (40:26):
Clients in my time who have been billionaires, and so
have I experienced wealth. Yes, I think that's a lot
of the reason why I just don't. I don't want that.
I don't want to be a billionaire. But what they
have in common is they pay themselves first.
Speaker 4 (40:41):
Yep.
Speaker 1 (40:42):
So they are.
Speaker 5 (40:43):
Creating a plan, and they're not all doing this in
exactly the same way, but in a roundabout way they're
doing this. They are you know, going okay, cool, like
I need to said, like I need to put money
aside for rent, I need to put money aside for bills.
You know.
Speaker 4 (40:57):
They're talking about their savings just as like a bill,
like they just go and savings we have to put
a side X. Like they don't really think about it
in the same way that I was hystorically thinking about it,
because in my head, savings is just money I put
aside for other stuff I want exactly exactly or it's optional.
Speaker 5 (41:10):
Yeah, it's optional. No, they don't see it as optional.
That's just part of this system. And then they can
play with whatever's left. But it was always or whatever's left.
And that system, I would say works for the billionaires
and the people who have so much money they don't
know what to do with it. But also it was
working for like my housemate who had savings at UNI
(41:33):
and we were on the same system. She was just
like automating it and putting the money aside and pretending
it wasn't there. And I just didn't comprehend that that
was an option. And I also doing think with my impulsivity,
I had the ability to see savings as not accessible. Yes, yes,
so you're like, yeah, but I want it, And in
(41:54):
my head I can see that and that's going to
get me the thing that I want.
Speaker 1 (41:58):
Yeah, and I'm not really.
Speaker 5 (42:00):
Yeah, that's money for myself exactly, and you've kind of
got blinkers on about what the bigger picture looks like.
Speaker 4 (42:05):
Yeah.
Speaker 5 (42:06):
And so for me, getting serious about money meant I
had to create a plan that worked with my impulsivity,
and that was about automation and you know, having two
separate banks, not just two separate bank accounts, but my
savings went to a different bank, So when I logged
in to see my everyday spending account, I couldn't see
my savings account because sometimes I would see it and
be like ooh, opportunities like do you know what I mean?
(42:27):
Like I just needed to not be able to see it,
and that helped. But there's like, yeah, I would say
that they're paying themselves first, So whether that is a
business owner and they're just like making sure everything is
going really smoothly and they are investing in their business
before they're paying themselves, or if it's you know, my
old housemate who you know would just act like savings
(42:49):
were just part and parcel of her bill system. That
to me was a revolutionary Yeah, And now looking back,
I'm like, they all have this ability to put their
money in a system that works for them as opposed
to you know, money came into my accountant. I see
a lot of myself in you, because like I think
you and I are on the same page about you know,
(43:10):
we're at different points in our journey. But like you
say things and I'm like I get it back, yeah,
because that's me, like or it was me or you know,
I said before, like a lot of my I would
say a lot of my success. But I'm very grateful
to have a high income now because I still am
a little bit impulsive and I think that that could
maybe get me in a little bit of trouble, which
is why I try so hard to have such a
(43:31):
strict system, Like I do have a certain amount that
I pay myself every single week that I know I
can quote play with because if I don't have that,
go I'm going in our savings. I'll say sorry later,
like exactly, I just I need to have a system.
Speaker 4 (43:48):
Yeah, you can always put double savings next time.
Speaker 5 (43:50):
Well, when we tell ourselves that, oh yeah, I've never
actually done that, it's no same.
Speaker 4 (43:56):
But I thing happened.
Speaker 5 (43:57):
We should talk about that too, because it's just so hard,
Like money is hard. It's not easy, and even though
we've got more of it, like it just becomes more complex.
Speaker 7 (44:05):
Like yeah, and it's getting harder the cost of Oh,
don't even start being like that's a story for another time,
it is, OKAYVD last question, looking back at everything you've learned,
what's one change or decision you've made with money that
has had the biggest impact on your life.
Speaker 4 (44:19):
Mindset, mindsetskay, mindset, But changing the way I viewed money
changed everything. Like it wasn't a system or a process
or a budgeting app like I feel like so many people,
and I love it because you will want change, right,
Like when people are reaching out to me and they say, fore.
Speaker 1 (44:37):
You, what's your favorite budgeting app?
Speaker 5 (44:38):
I need to get my stuff together, It's like, that's
not what you need. What you need is a mindset shift.
You need to see money as a tool, Like we
need to take emotion out of money, because like I
was so covered in shame about my money, and you
know I would literally I can't remember anybody actually asking me,
are you in debt? But I just know I would
(44:59):
have lied to you, like you know what I mean.
That sounds terrible, but it's true. And I think it
was just changing this mindset around money is just a
tool and giving myself permission to just accept that, and
you know, changing this idea that I was bad at money,
because I wasn't bad at money. I just spent more
(45:19):
than I Doarn't that was it. I just spent more
money than I had earned. And I needed to fix
that and get into a better state of equilibrium and
I needed to put myself ahead, and the way to
do that was to just see it as a tool.
And it's so hard to see money as a tool
because it is inherently emotional. And I think that's where
a lot of you know, I was able to fix
(45:41):
or change my money story because it was a marriage
of finance habits and psychology and just through luck and
through my experience. I had the psychology background, and then
I also was learning about these money things and realizing
that if I didn't change my approach, it isn't going
to happen. So I think, yeah, for me, it's all
(46:03):
about mindset. And I can't say, oh, this is the
right mindset, because there's no right money mindset, but being
able to understand where I came from, why my money
story was my money story, what I felt about money,
why did it make me feel icky?
Speaker 2 (46:16):
Like?
Speaker 5 (46:16):
How did all of that work? Understanding that, and then
also going okay, cool, it's just a tool. How am
I using this? How am I making every single dollar
that comes into my account work for me? And now
that looks so different Right now, I'm you know, at
a more progressed like baby Victoria. I would never have
seen this coming, but like me talking to my husband
and about, Okay, well what was our like rate on
(46:38):
our offset?
Speaker 1 (46:39):
What did that look?
Speaker 4 (46:39):
Like?
Speaker 5 (46:40):
Okay, cool, We're going to put everything in that offset
and like move it to here to do this, and
like we're talking about investments and like that's just not
how I thought my life would be. But all of
that starts with like small money management. It starts with
having a budget, It starts with having a cash flow.
It starts with yeah, small steps in the right direction.
Speaker 4 (47:00):
I love that, Vie. You've really motivated me because I'm like,
it's so nice. I think if you're kind of like
me and you have never really had money and you
still don't really know how to manage money, you're still
kind of like perpetually broke, it seems. And then you
hear other people through and you're like, oh, you're not
that different. It's like, okay, we're I'm not like trying
to achieve something that's completely impossible for someone that.
Speaker 5 (47:21):
No, like I own differently, yeah, no, and I steal
something like impulsivity.
Speaker 1 (47:26):
I struggle with still.
Speaker 5 (47:27):
Yeah, like at the end of the day, like, yes,
I have more money, Yes I have a successful business.
Speaker 1 (47:32):
And I'm not saying that that was luck.
Speaker 5 (47:34):
Like I have worked so hard and I still work
so hard, and it says struggle every day. Not just
financially because like comfortable financially now, but just like running
a business, like I'm running three of them, Like what
are you.
Speaker 1 (47:47):
Doing, Victoria? That's crazy talk.
Speaker 5 (47:49):
But I think when it comes to the finance side
of it, I think a lot of people just assume, oh, yeah,
she must be really rich.
Speaker 1 (47:56):
Now, she must have like lots and lots of income.
Speaker 5 (48:00):
I'm comfortable for sure, but most of the business stuff
goes back into the business. Like, yes, I have a
higher income, but I'm not living in like a six
million dollar property, like I'm not, do you know what
I mean?
Speaker 1 (48:14):
Like, I'm not I'm not Richard Branson. I still am
doing a budget with my husband. Guys.
Speaker 4 (48:21):
Yeah, yeah, that's so comforting to know. Okay, I feel
like it's all we got time for.
Speaker 5 (48:26):
Unfortunately, I'm kind of glad because I feel emotionally hungover.
Speaker 4 (48:30):
Yeah, oh spent, Absolutely, we are done. I think the
biggest takeaway here is that no one is born good
with money. So if you're listening to this and thinking, god,
I'm so far behind. Just know that even Victoria Devine
once had no idea what she was doing. And I
think for anyone listening who feels stuck, this is such
a good reminder that you don't have to get everything
right straight away, you just have to start.
Speaker 1 (48:50):
I love this.
Speaker 5 (48:51):
I feel like this has been really fun and if
there are questions off the back of this episode, maybe
we can.
Speaker 1 (48:56):
Do another one. I don't know how that's fall, but
we can see.
Speaker 5 (49:00):
But I think a lot of the conversation around money
is inherently emotional. Like you can listen to six million
episodes on what the best ETFs are, and that's good
for if you're picking an ETF, but if you're just
struggling to get started, like sometimes you just want to
hear that other people have been in your shoes. And
I really don't like the idea that people would just
(49:21):
see me as being like high and mighty and oh well,
she won't get it, Like, girl, I've been there, and
I'm working my butt off to make sure I'm never
back there again, because it's not a nice.
Speaker 4 (49:32):
Feeling, absolutely, But all in not, just be kind to yourself.
Some people are really really not even in a position
where they can even start saving right now, they're probably
in the negative.
Speaker 5 (49:40):
So exactly, and that's okay. But it's not a reflection
of who you are or how good you are as
a person. It just means that you're spending more than
your earning. And do you know what some people are
forced into that right now? Oh yeah, like that's not
their fault, absolutely, but that doesn't mean they can't understand
budgeting and cash flow out what they want it to
look like one day exactly.
Speaker 1 (49:59):
In the meantime, just be learning, okay.
Speaker 4 (50:02):
And of course, if you're loving the pod, make sure
you're subscribed, leave us a review, do all the good
things you know, the drill V thank you so much
for letting me grill you today. I feel like we're.
Speaker 1 (50:11):
Thanks for grilling me and being kind.
Speaker 4 (50:13):
Oh of course, I feel like we're going to have
to do a whole other episode just and how you
actually got out of debt, because that would be a
juicy one. Yeah.
Speaker 5 (50:19):
I feel like I need to put a plan together,
so let's work on that, and guys, we will see
you on Friday for Friday drinks.
Speaker 4 (50:26):
See then bye?
Speaker 6 (50:33):
Did buy shared on She's on the Money is general
in nature and does not consider your individual circumstances. She's
on the Money exists purely for educational purposes and should
not be relied upon to make an investment or financial decision.
If you do choose to buy a financial product, read
the PDS TMD and obtain appropriate financial advice.
Speaker 1 (50:53):
Tailored towards your needs.
Speaker 6 (50:55):
Victoria Divine and She's on the Money are authorized representatives
of money showper p T T y L t D
A b N three two one six four nine two seven,
seven zero eight a F s L four five one
two eight nine
Hello.
Speaker 2 (00:01):
My name is Satasha Nabananga Bamblet. I'm a proud or
the Order Kerni Whaltbury and a waddery woman. And before
we get started on She's on the Money podcast, I
would like to acknowledge the traditional custodians of the land
of which this podcast is recorded on a wondery country,
acknowledging the elders, the ancestors and the next generation coming through.
(00:23):
As this podcast is about connecting, empowering, knowledge sharing and
the storytelling of you to make a difference for today
and lasting impact for tomorrow.
Speaker 1 (00:33):
Let's get into it.
Speaker 3 (00:34):
She's on the Money, She's on the Money.
Speaker 4 (00:57):
Hello, and welcome to She's on the Money, the podcast
that reminds you that even the most financially savvy people
have made money mistakes, and today we're talking about them
and we're doing something a little different. Victoria is usually
the one leading the charge, helping us get our money sorted.
What about her journey? Anyone cares about her journey? How
did she go from feeling totally overwhelmed by money to
(01:17):
becoming the finance expert we all turn to. I'm excited
and as always I'm joined of course by Victoria Divine
retired financial advisor. It makes you sound like eighty years old.
Speaker 1 (01:27):
I know, And how else do you explain that? Though?
Speaker 5 (01:31):
Well, retired ex financial advisor. I remember when we were
trying to pick and it's like, oh, well, how do
we refer to you because I'm not legally allowed to
say I'm a financial advisor?
Speaker 4 (01:40):
Sure right?
Speaker 1 (01:41):
Do I say X? And then you might think I
got kicked out of.
Speaker 4 (01:45):
The industry, true, like a criminal, Like like, what did
she do?
Speaker 1 (01:50):
Advisor?
Speaker 5 (01:51):
Anymore's guys, I left willingly, I sold the business. I
stepped out to do this. So retired just makes it
sound a little bit nicer.
Speaker 1 (01:59):
Oh that's her, actually, I think.
Speaker 4 (02:01):
But she's not. You do sound that's true.
Speaker 5 (02:04):
That's okay because a lot of my money habits and
like my personality traits are that of a senior citizen.
Speaker 4 (02:10):
So that's well checks out. Actually, VD is not only
a retired financial advisor, but also best selling author, number
one money podcast host, business owner and the reason we
all know what an emergency fund is.
Speaker 1 (02:22):
Oh, that's very sweet. You didn't have to intro me
like that.
Speaker 4 (02:26):
Well, sorry, but we got to be celebrating.
Speaker 5 (02:28):
I'm not gonna lie I'm really nervous about me. Like
it's funny because I can podcast till the cows come
home and talk about money and like my advice and
like it's like my subject matter topic.
Speaker 4 (02:42):
Right.
Speaker 5 (02:42):
But the second you turn the tables and go can
you talk about you? I'm like, oh, you're like kind
of fumble at I'm.
Speaker 4 (02:49):
Like, oh, totally. And the lights in these studios are
just healthy. I know, I totally get it. Usually we're
just talking about you by proxy.
Speaker 1 (02:58):
Yeah, exactly, but.
Speaker 4 (03:00):
This is all eyes on you. So if it's okay,
I'm just going to like run through a Q and
A with you. O.
Speaker 1 (03:06):
I am nervous, but let's go.
Speaker 4 (03:08):
Okay. So first question I have. You've helped so many
people rewrite their money story, but I want to know
what was your earliest memory of money, and like was
it something you were aware of growing up or did
it not seem like a big deal at the time.
Speaker 1 (03:21):
I have a few early memories of money.
Speaker 5 (03:23):
So I grew up in Tasmania and we used to
go down or up to this beach called Greens Beach
and very family friendly at the time, Like it just
had one general store and that was it. In the
general store sold petrol, it's old golf balls, it had
a fish and chip counter, it had all the lollies,
did everything right. I love those And I remember when
I was younger, my parents used to give us like
(03:45):
we would We'd be let loose, like this was acceptable
at the time. We'd go out onto the rock pools,
like down at the beach and like hang around there,
me and my older cousins, and then we would go
to the general store with our gold coins and we
get hot chips with extra chicken salt, and then we
would take them back to the beach. And I remember
(04:06):
that was really cool because at the time gold coins
felt like lots of money, like they weren't silver coins.
Speaker 1 (04:12):
They were gold.
Speaker 4 (04:13):
Yes, there's something so like, yeah, they're invincible, yea.
Speaker 5 (04:16):
And like that was so cool. But I always remember
feeling a little bit like, oh.
Speaker 4 (04:20):
I really want the chippies when we're at the beach,
but I don't want to ask mom and dad for
the money, because I always felt like that was a
bit like at the time, and I don't know where
this came from, you shouldn't ask for money, like you
shouldn't ask for it.
Speaker 5 (04:35):
But I mean, as I got older, I definitely asked
for it. And then another moment that I have that's
in my brain that you know, I would say, is
maybe a negative association with money again it was about
asking for money from my parents. Was when I was younger,
and I was probably in like maybe grade two or
(04:56):
three at school and I came home and my mum
used to get a little bit grumpy at me when
I didn't give her the forms that I got at school,
like they'd just sit in the bottom of my school
bag for ages. And some of them was genuinely because
I forgot, but other times it was because I didn't
want to give it to her because it was like, oh,
(05:16):
we need to, like do I don't know how much
it was, because like I never remember, but like maybe
it was like twenty dollars for like a school excursion
or something.
Speaker 1 (05:23):
And I used to just get.
Speaker 5 (05:24):
The itch even in grade two about pulling it out
and being like, oh, Mom and Dad, like I need
money for this sixcursion. Like it just never felt comfortable,
and that might just be me, or it might just
be you know, how I've grown up around money. I
don't know, but that's yeah, I would say two of
my earliest memories around like money.
Speaker 4 (05:45):
You sound like a dream child. I feel like I
was constantly even though we were like perpetually broke, I'll
constantly ask you for money. It had no concept of outwork.
Speaker 5 (05:53):
Yeah, but I think that comes from like and that's
so fine, and like it's not a good or a
bad thing. But I think I could tell well in
a way that money at the time might have been
stressful or significant. Yeah, it definitely had some significance. Like
I couldn't tell you what was going on or why,
but I knew that it would add pressure. And I
just remember that feeling of not wanting.
Speaker 4 (06:14):
To add pressure. They're so sweet.
Speaker 1 (06:17):
I don't know.
Speaker 4 (06:17):
Yeah, no, that's fair. Okay, I have another question, if
you're ready. I feel like I should have been given
these questions in advance. I could have prepared, but here
we are. Yeah. No, that's true.
Speaker 5 (06:27):
But it sometimes it's better to just like yolo. I mean,
you're just getting it raw. I mean that's what you
probably want anyways, that's what I want.
Speaker 4 (06:35):
I want to raw. What's the most valuable money habit
or belief you picked up early in life that still
makes sense today.
Speaker 5 (06:41):
I like that you've said still makes sense, yeah, because
it doesn't mean I did it, but I was taught
this from a young age, so.
Speaker 4 (06:47):
It's kind of a pun.
Speaker 5 (06:48):
Yeah, my dad was a accountant or is an accountant.
Speaker 1 (06:53):
I don't know if you ever stopped being an accountant, and.
Speaker 5 (06:56):
Growing up, he always said, always save the first five
percent your paycheck and pretend you don't have it, because
if you start that habit early, you will always not
have that money and you can always just save it.
And as your income increases, that five percent goes through
being like four dollars to forty dollars and like that
will increase.
Speaker 1 (07:16):
And that's always stuck.
Speaker 5 (07:16):
With me because it's kind of about this idea of
paying yourself first, and he used to like drum that
into us, Like when I got my first job, he
was like, Okay, make sure that you're saving. Did I
do it, though, beck No? No, So, like that is
a money lesson that I have had with me for
a long time that potentially I didn't actually implement.
Speaker 1 (07:37):
Sure is that answering their question? No, absolutely, because I.
Speaker 5 (07:40):
Can't think of something that I'm like, yeah, I've always
been good at money and I used to do that,
Like I haven't been good at money sure, like I
am now, And I think that that comes down to
two things. One obviously discovering my money story, being able
to get on top of it, being able to have
these open, honest conversations, and like being comfortable getting on
top of it, but also honestly having a little bit
(08:02):
more of it, like having the cash flow to support
the lifestyle, because I genuinely don't know what would happen
if I was earning the income that I used to earn,
whether I would have at some points to come to
being like, look, I really want to do this other
thing and gone into personal debt or something, just because
that's like, that's my personality, Like it's inherent in who
(08:25):
I am to be relatively impulsive.
Speaker 1 (08:28):
Yeah, no, that makes sense. So I don't want to
say to people.
Speaker 5 (08:31):
I'm perfect and now like I've recovered from being in
debt and you know, I'm not in debt anymore, and
I am you know, the holy grail of savings and money.
Like I get that that's what I share, but I
also think that we need to remember that I'm just
a girl, Like I am impulsive, Like I can resonate
(08:52):
with a lot of things when people like I'm in
after pay debt, I'd be like, okay, well I've never
been in after pay debt. But I fully understand that
if I was in that financial position and I still
wanted that stuff, do you know what come midnight and
I'm still on my phone, maybe I would have given.
Speaker 4 (09:05):
It a crack, like yeah, yeah, exactly, you totally. Also,
I feel like there's like something in when you've been
in debt and you get out of it and the
fear of egg.
Speaker 1 (09:16):
It's so scary, but it makes me feel sick.
Speaker 4 (09:18):
Totally. Same even if I get like a debit success
email because my anytime fitness thing didn't work, I get
stressed anxious.
Speaker 5 (09:25):
Yeah, so like I do the same thing in the
uns Like it's funny. I actually got a call yesterday
because I missed an invoice. Yeah, and it was for
like two hundred dollars. That wasn't like it was a
business invoice. I just it was for my being completely transparent,
It was for my accountant because I have lots of
different entities. I have lots of different fees that I
pay for different things, and like, honestly, I just missed
(09:46):
it and the lady called me, and I I won't
say I freaked out, but I was like, oh my god,
I'm so sorry, like just like, oh, it's just three
hundred bucks. I'm just following up on, you know, the invoicing.
You're like, you know, you don't usually miss any of them,
and like con text, I paid tens of thousands of
dollars a year in accounting fees. That's just part and
parcel of running businesses, having what we do right, and
(10:08):
so this two hundred dollars shouldn't have been an issue.
Speaker 1 (10:11):
I felt sick.
Speaker 5 (10:12):
I immediately am talking across the room to Sarah and
I was like, Sarah, can you please look at my emails,
like can you please find it? I can't seem to
find it because I was frazzled looking my emails trying
to find this invoice that I hadn't paid, and I
was like, it's in there, can you please look it up?
And then you know, she couldn't open it on her
computer because it had timed out. Well, email them, email
them and find out what it was. Like yeah, I
was just so and I'm like, can you pay it now?
And she's like, yeah, I think I can pay it now.
(10:33):
I was like, yeah, do that do that.
Speaker 4 (10:34):
Like, I just hate the idea that I would owe
somebody money. Yeah, Like I won't say that that's trauma,
but it can sometimes feel that way. Yeah. No, I
totally get that. There are lots of people that have
a lot worse things going on, but it's like it
triggers that fight or flight in you because you know,
you know that feeling.
Speaker 1 (10:54):
Yeah, I felt sick and yeah, could if thord it? Yeah,
like I can, I can afford.
Speaker 4 (10:57):
And that's so nice now, But I think in those moments,
you forget where you've been and what you've come from,
and you just go.
Speaker 5 (11:05):
Oh my god, I owe someone money and I didn't
transfer it. Oh no, Like I genuinely was real frazzled.
Oh my god, I completely get that.
Speaker 4 (11:12):
So relatable. Okay, my next question for you. When you
first started making your own money, how did you handle it?
Speaker 5 (11:19):
So my first job was working at an ice cream
shop on the Mornington Peninsula. I thought it was a
coolest job ever.
Speaker 4 (11:28):
Weird boss, who Now I look back, you shouldn't have
been managing people. But okay, I would say poorly, but
I had a good time. Nice poorly, but I had
a good time. Like I was young, I was fourteen
years and nine months. I had some income coming in.
I didn't know at all what superannuation was. I didn't
know how tax worked, and at the time, I don't
(11:49):
think I cared, because I think once I learned that
it got taken out before I got my money, I
was like whatever, Like I don't care.
Speaker 1 (11:56):
I would save up my money.
Speaker 5 (11:59):
And the closest big shopping area was Frankston at the time,
and if I was lucky, Mum would let me catch
the bus after school to Frankston with a couple of
my girlfriends, where we would go to so Prey and
look at all of the stuff at the Prey and
get our pink tote bags. And I remember the headbands.
(12:22):
I think they were like four ninety nine, like the
really skinny headbands with the boats.
Speaker 1 (12:26):
Do you remember them. They were made of elastic. I
had so many of them.
Speaker 5 (12:30):
I at the time really liked the slogan T shirts
there because they had like, I don't know, weird slogans or.
Speaker 1 (12:37):
Semile T shirts. Yeah, yeah, yeah, I can remember that.
Speaker 5 (12:41):
And I've always been into clothes and fashion and stuff.
And then there was this other store I can't remember
what it was called and I wish I could, but
it was like I want to say, Joanne Lee or
something like that. Yeah, it sold. Do you remember the
brand face Off like they did like face Off jeans
and familiar. They weren't super expensive, but for me at
(13:03):
the time, they definitely felt it. And all the cool
girls wore those chees that real low rise, like sometimes
a bit of a flair moment. And so I spent
my money on that. I would spend my money at McDonald's.
So my friends and I would go to McDonald's. Oh
you got to school, oh yeah, And at the time,
I remember like it was a four dollar meal deal,
(13:24):
Like it was a chicken and cheeseburger, a small chips,
a small coke, and a Sunday for four dollars.
Speaker 4 (13:28):
Oh my god, bargain, I know, right.
Speaker 1 (13:30):
Good deal. So we'd go do that.
Speaker 5 (13:31):
I used to go to the movies a lot like
that was always like a good activity.
Speaker 1 (13:35):
Growing up on the Peninsula. There wasn't a lot.
Speaker 5 (13:37):
Of activities you could do after school or like a
bud village yep, go down to the plaza. So all
of my money, honestly, it wasn't on big things like
I can't ever remember going. Oh, I saved up all
of my money and spent it on X. I remember
at one point my parents matched me because they really
wanted to promote my savings, and I got an iPod
(13:59):
Mini c pink iPod Mini. So I would say that
was probably the biggest thing at the time that I
had saved for. But all my money just went because
like at the time, maybe I was earning like fifty
to one hundred dollars a week with my part time
job like max. Yeah, but all of that in a
week would go on, like you know, little accessories and
(14:19):
stuff a' to prey and going out for you know,
after school things with my friends to McDonald's and the
movies and just gone, just gone.
Speaker 1 (14:28):
So was I good at money?
Speaker 2 (14:29):
No?
Speaker 5 (14:30):
But no, I's just enjoying my teenagehood. I suppose you're
just a tiny baby.
Speaker 4 (14:35):
Yeah, you enjoy the finer things.
Speaker 5 (14:37):
Yeah, the finer things being a McDonald's chicken and cheeseburger
four meal deal.
Speaker 4 (14:41):
I would argue those are still the finer things.
Speaker 1 (14:43):
Yeah. Do you know what if that was still for
like that was a.
Speaker 4 (14:46):
Good deal, all I'd be eating fials. I feel like
sometimes it is for dollars, like I feel like they
haven't including the Sunday. Oh maybe not including the sun.
Speaker 1 (14:55):
But the Sunday was like the literal cherry on.
Speaker 4 (14:58):
Yeah, that's true, that's Truectually. I'm curious about what flavored
Sunday you go for caramel always, I viscerally, like in
my gut, I knew you were going to say, Cary,
you did, but I was like, that's outrageous.
Speaker 1 (15:08):
Do you know what Jessica Briechi picks.
Speaker 4 (15:10):
She's strawberry.
Speaker 1 (15:10):
She's Oh my god, what you saw.
Speaker 4 (15:13):
I didn't even know you guys.
Speaker 1 (15:14):
Yeah, it's like you're inside our brains.
Speaker 4 (15:17):
Yeah, okay, before you had your money sorted, Yeah, what
was life actually like? What were the biggest money headaches
for you back then?
Speaker 5 (15:25):
So I moved out of home when I was eighteen,
and I moved out because I wanted to go to
university and I lived on the Mornington Peninsula and at
that point, the big freeway hadn't been built yet pink no, no,
Peninsula Link wasn't a thing yet. So to get from
my house like where I lived with my parents, which
I definitely could have stayed in, like they were very
(15:47):
generous to get to the city was about an hour
and a half, right, And I really wanted to go
to university, and so made the decision to move out.
And I moved out with a couple of housemates, just
people I went to school with at the time. We
got an apartment in South Bank, and I think my
biggest struggles were.
Speaker 1 (16:05):
Rent and food and managing all of that.
Speaker 5 (16:09):
I just remember the rude shock of having to pay
for everything that I hadn't really thought about before. Yeah,
and like, I mean, it's not like it is today.
Things were much cheaper, Like olive oil was just olive oil,
it wasn't liquid gold. But having to buy those like
household items like washing machine liquid and you know, at
(16:32):
the time, vacuum cleaner bags. Oh yeah, vacuum cleaner bags everything.
I remember being like what the hell, like this is full,
and then realizing that they were actually super expensive. And
then I remember spending like a whole afternoon pulling all
of the junk out of the vacuum cleaner bags so
I could reuse it. Yes, and so yeah, money wasn't
in abundance. But I also worked really hard, So like
(16:56):
I'll give myself credit for working really hard. So while
I was at university, I was working like three jobs.
I was working at least forty hours a week. But
even though I had that income coming in, I can't
tell you where it went like it went on my lifestyle.
It went on, you know, city, paying for clothes, paying
(17:18):
for shoes, like I always was, and I would say
still and well dressed, but to a downfall at that
point in time. So you would have looked at me
and been like, oh, she has her stuff together as
a first y UNI student, But like I was living
very week to week. Was I ever in you know,
serious significant financial struggles? No, and like I've always had.
(17:40):
I want to call it the bank of Mum and Dad,
but you know, my parents aren't so well off that
I could just call them that. It wasn't ever a
comfortable call. But there were definitely a few times where
I was like, do you think I can borrow one
hundred dollars? Or can you please help me here or there?
And I'm so grateful for that help, but it would
be a missed to not mentioned that I had that
in the background. But I think having that meant I
(18:02):
felt safe not to be responsible, yeah, if that makes sense.
Like I didn't feel like I ever had to worry
about an emergency fund because like, at the end of
the day, yeh, it's uncomfortable, but I could call my mum,
Like at the end of the day, I called X
y Z. So I always kind of had that fail safe. Yeah,
and like it felt icky, Like I never liked it,
(18:23):
but it definitely was something that I, yeah, nice to
have the back of your head. Yeah, totally, And I
think we need to talk about that because so many
of us end up in a situation that we're not
super proud of, but like we just don't really know
how we got there, and like I know how I
got there. But yeah, my entire journey was I would
say comfortable. But like first, ye university, I was working
(18:46):
three jobs. I was working two hospitality jobs and a
retail job on a Saturday because I want to double
and a half time rates, so I didn't have much
free time. And then in between all of that, I
would actually do like sessional swim teaching in the mornings
and stuff before UNI sometimes cool, but yeah, so I
(19:06):
had income coming in. But I would say that even
with all of that work, it was at the time
minimum wage. And I think my tax returns probably said
it would be between twenty five and thirty thousand dollars.
Speaker 4 (19:17):
Wow.
Speaker 1 (19:18):
Yeah, so not mass amounts. I see.
Speaker 4 (19:20):
Yeah, Okay, Now I want to know was there a
specific moment where you were like, no, this isn't working
for me. I need to sort this out or was
it like a process.
Speaker 5 (19:29):
It wasn't early on, it wasn't at UNI or whatever.
It was definitely once I got my first full time job.
So when I've got my first full time job, I
had finished two degrees and had just started kind of
like dabbling whether I would do like a master's degree
or not.
Speaker 1 (19:46):
I did a lot of.
Speaker 5 (19:47):
Like graduate interviews because I really wanted to work in
organizational psychology, and I was dabbling in like you know,
interviewing at Deloitte and doing all these other things. And
then I got offered the role that I got offered,
which was not a graduate position. It was a consultant role,
and like I thought, I'd hit the jackpot because like
that was like the step above graduate, and I felt
(20:09):
like I could turbocharge, if that makes sense. Like, yeah,
I jumped something like it was like snakes and ladders,
and I'd hit a ladder and I jumped up and
I remember my and I found it the other day
because I was talking to one of the teammates and
I was like, I, reckon, this is in my email,
like my first employment contract, and it was fifty five
thousand dollars a year including super Yeah, and I felt rich,
(20:29):
Like I genuinely felt like that it was the most
amount of money I'd ever earned in my entire life.
But I think that dynamic change of not being a grad,
not having other grads around me, I went straight into
the big swimming pool of the consultants who were in
their mid thirties forties, and I saw them and I
(20:50):
thought they were doing so well. And I did definitely
play into and this is only in retrospect. I didn't
know I was doing it at the time, playing that
like keeping up with the Joneses mentality of like they
have really nice suits, I really probably should get a
nice suit, and like the stuff that I was wearing
at the time, Like I would mainly shop at like Portman's,
and I would go to like Zara and then like
(21:12):
match it with like cute kmart tops and singlets, so
like I was good at finding stuff. But then I'd
see people in like Shinier suits, and I'd be like, oh,
I really probably should invest in a really good suit.
And I've said this before, and I think that's because
that's my big purchase that was kind of pivotal, Like
it was kind of like a it made me feel
(21:32):
so good, Like I bought this suit. It was navy blue.
I bought the skirt and the pants of it that
matched the jacket. Because the jacket was so expensive, I
was like, I need to get like maximum wear out
of this, and it was from Saba and it probably
cost me like six hundred dollars, right, and at the time,
that's an astronomical amount of money. Yeah, but also in
(21:54):
comparison to that salary, like that's not I don't know.
I look back and I go Victoria divine, Like that
was very irrisp constable. I don't regret it because I
did feel really good and it gave me a lot
of confidence. So like, you've got to weigh up the
pros and cons. But yeah, I think for me, that
was the downfall of it. At that point, I was
still functioning completely in cash, so I paid cash for
that off my debit card. But after that, I remember
(22:17):
applying for a five hundred dollar credit card. Yeah, and
I got that, and then I remember pushing that up
to one thousand dollars. And then because it was like
the start and I mentioned just before I was thinking
about doing my masters, I then enrolled in a Master's
of Business Administration. So I did my MBA and as
a part of that program, I think it was maybe
(22:37):
like almost twelve months after I started my full time gig,
I got the opportunity to do like a secondment semester
in France. Cool, right, very cool, And that was only
offered if you like met certain criteria and had like
certain grades and whatever. And I was like so excited
and like I'd applied for it, I think, kind of
not assuming I would get in. And then when I
(22:59):
got in, it was like this mad scramble of I
really want to go, but I can't afford to go,
and there's no way, Like this isn't one hundred dollars
for a mum and dad. Like I'd done my maths
to like study abroad, I was going to have to
take leave without pay, Like what do I do about
the house that I live in? Like do I keep
my rent or not?
Speaker 1 (23:17):
Do I?
Speaker 5 (23:18):
You know, like there was a lot of questions how
was I going to afford accommodation overseas as well as
like living expenses and not being able to work, Like
how do we work that out? And then on top
of that, it was in my head, I'm like, well,
I haven't really traveled properly before this. Should I also
do a holiday on top of that? And then you know,
(23:40):
the conversation of a personal loan came into it, and
I decided, Okay, well I could just get a loan
for this and I can deal with all of this later.
And I ended up getting a personal loan. And at
the same time, my car was dying. Yes, so I
had all of these big expenses and I needed a
new car. And in retrospect, like you know when you
look back on things and you're like, I should have
done that so differently, like what are you doing? But
(24:02):
it all made sense at the time. I needed a
new car, I needed to go to France. I also
wanted to add on a bit of a holiday.
Speaker 4 (24:08):
Yeah.
Speaker 5 (24:09):
Ultimately I took out a forty thousand dollar personal loan
and I wish I didn't do. I regret going to
France and doing the things that I did. No, absolutely
not like I had the best time. I made some
incredible friends. I have these beautiful memories. I don't regret it.
But when I say I regret the debt, it's not
(24:30):
because I regret the things I spent it on. Yes,
I've got literally nothing to show for it, But I
really feel the pressure that I was under when I
returned home was so immense that it impacted my mental
health and like how I felt and how I couldn't sleep,
and it made me not eat, and like all of
these other things, Like I just I didn't know how
(24:50):
I was coming up with that eight hundred and eighty
three dollars every single month to pay.
Speaker 1 (24:54):
That debt off.
Speaker 4 (24:54):
Yeah jeez, And like the idea that I was paying
that off, but like the debt never went down, like
that was the minimum, and like when am I going
to get out of this?
Speaker 1 (25:03):
Is this forever?
Speaker 5 (25:04):
And then like you extrapolated out and I was recently single.
I'd come out of a very long term relationship. The
boyfriend that I had had before I went I was
in a relationship with for seven and a half years.
Oh wow, And I think it was all of that combined.
I was like, no, I deserve this I'm going to
do something for me, and I took out this really
big loan and then I just couldn't sleep, I could eat,
(25:25):
I couldn't do literally anything. It was I would say, crippling.
Oh yeah, and like if you've never been in debt,
you don't get it.
Speaker 1 (25:33):
Yes, you don't get it.
Speaker 5 (25:34):
And it's like you've done something wrong and you're up
at three am just ruminating on it. Like it's that
feeling of like what am I going to do? How
am I going to do it? And like everything's worth
at three am, but like that's when you wake up
and think about it. So I was having really bad sleep,
I wasn't performing well at work. I was just anxious
all the time, but also still wanting to keep up
(25:56):
with my friends. Oh man, So my friends didn't know
I was in debt. No, and they'd be like, do
you want to go out for dumplings? Of course I do,
but yeah, what do you do in those situations?
Speaker 4 (26:07):
I know, I know, I completely get it, and I obviously,
as you know, have been there. Okay, Vid, I'm going
to give you like a few moments to just reset
and let's go to a quick break on the flip side,
I'm going to ask you some more questions. But I
do understand the anxiety around talking about debt, So I'm like.
Speaker 1 (26:27):
I'll let you have a little sit.
Speaker 4 (26:29):
You're feeling anxious now, but at the time, oh my goodness,
oh my god, I totally get it. Okay, we'll be
right back. Welcome back everyone. How are you feeling? Oh,
I'm fine, yeah, fine, It's interesting. I'm like, I want
to share this about how do I articulate myself. I
(26:50):
don't worry about that, no, but I want to give
you like all of the like oh and I was
doing this and like, oh this added to it, and
like I was going out of a relationship, and I
think we can all relate to, like, yeah, coming out
like I wanted to treat myself like I don't know absolutely.
Speaker 1 (27:02):
It's also like triggering memories for me.
Speaker 5 (27:04):
And I'm like, oh and oh, and so this is
probably a really disjointed podcast, So I do apologize.
Speaker 4 (27:09):
Well, I'm enjoying it personally. Okay, Okay, so you've had
your oh my god, I need to fix this moment.
You've made the first move. But then what did things
finally start falling into place? It was like a total
mess before it got better.
Speaker 1 (27:21):
When you got out of debt, or when you were
working out.
Speaker 5 (27:24):
We did it just all you woke up one day
and it fell into place back personally, God, No, I
sure journey eally, and I don't think there's ever it's
going to fall into place moment.
Speaker 1 (27:36):
Yeah, I think I just had this realization.
Speaker 5 (27:39):
It was when one of my best friends shared with
me her saving skull. I remember I was at brunch
and it was an expensive brunch and I was picking
the cheapest thing off the menu at the time, and
I remember her talking about wanting to do like I
can't even remember what it was like. The thing that
sits in my head is I could tell you exactly
the table where were sitting at at brunch and where
(28:01):
we were. I can't remember what her savings goal was for,
but I remember being shocked that she had savings, Like
I remember being like, wait, what, You're not like me.
I lived with this girlfriend, like she was my housemate
at the time. Yeah, And I remember being like sorry, what,
Like you have savings? I thought we were both Like
I knew that I had debt and I hadn't told
(28:21):
anybody about that, And I don't think I assumed she
had debt, but I didn't think she had the capacity
to save because we had not the same jobs, but
similar jobs.
Speaker 1 (28:29):
Like yeah, similar, what do you mean what?
Speaker 5 (28:33):
And I think that was a very like for me,
it was very confronting because we had very similar incomes
and what do you mean you have a whole heap
of savings and you're going to go to Europe and
or you know, like that feeling of oh okay, And
so for me that was a bit of an eye opening,
like I probably should work on debt. I didn't immediately
(28:53):
start getting out of debt, but I was really seriously going,
I need to do something about this. And so at
the time I did not believe that I could get
out of debt on my own. I was googling what
does it mean to go bankrupt? And that doesn't mean
that I was in that exact situation, but I didn't
know anything about money. I was googling what does it
mean to go bankrupt? How would that impact me? Like
(29:15):
at the time, I didn't have, you know, a business.
Speaker 4 (29:18):
Or anything like that, and I was working in this
organizational psychology role in a consulting space, and like I
knew that financial advisors existed because like some of our
clients were financial advisors, and so I was like, Okay,
maybe I'll go see an advisor. And I did all
my research and I went and saw a financial advisor
(29:38):
and he was at the time lovely, but then he's like, okay, like,
let's put it on a white board.
Speaker 1 (29:44):
How much debt have you got?
Speaker 5 (29:45):
And I felt really judged, but I told him, and
he put it on the white board and like drew
up some things and basically told me that like I
wasn't a good client for him.
Speaker 4 (29:54):
Ah, that's nice.
Speaker 5 (29:56):
Yeah, And I was kind of there going, oh, I
was happy to spend money to have a plan to
get out of debt because I just didn't I couldn't
see the light at the end of the tunnel. I
didn't know what to look up. I didn't know like
I thought this was going to be the thing that
solved it for me. And I walked away from that
meeting feeling like trash. I felt like I'd wasted his time.
I felt like and at the time, I did feel
(30:19):
like I'd wasted his time, like I wasn't in this.
Oh my god, what a rude person, Like I felt
awful and so yeah, that all happened, and then I
was like, well, maybe no one's going to save me,
Like maybe I have to do this myself. And I
started like looking things up on YouTube, and like, you know,
I learned about the Snowball method versus the Avalanche method,
(30:39):
and I was like, oh my god, there are all
these people like the debt free community and they are
talking about it. And then you know, there was a
whole heap of other stuff going on in my work
life where I was secondered to a financial advice business
and I was doing some engagement work for them, and
I realized that their work was way cooler than mine,
Like mine was about impact, right, Like I was engagement
(31:00):
and I could like sort of measure that, but like
they were like sitting clients down and showing them like
these plans, and I love a plan. I'm so type
A like I love having a plan and I can
show a client where I'm getting that from. And I
could see that their clients were really happy, and I
kind of wanted to learn more about that. So originally
it wasn't necessarily about getting myself out of debt, but
(31:21):
I kind of put the two and two together again
in hindsight and was really interested in that because I
think it benefited me at the time. And then when
I realized, okay, you can create a plan. Okay, I
can't just keep paying this eight hundred and eighty three
dollars off every single month and think I'm getting ahead.
I need to create a plan where I can pay
off some more. I was considering things like weekend work
(31:41):
and like, you know, trying to work that out. And then, yeah,
I think that was my moment of working out what
I needed to do. And I think that realization that
I couldn't just pay off the minimum and that would
be okay. I had to actually throw a lot more
at it. Yeah.
Speaker 4 (31:56):
That was confronting and hard, and I wasn't out of
debt like no, of course, it did feel like I
was in a bit more control. Yeah. Yeah, So at
some point VID took the leap and kind of like
turned into finance, which is so funny because I feel
like finance at that time was maybe like a bit
anxiety in guy it was, but I genuinely felt like
(32:16):
by helping other people, I felt more in control of
my money. Yeah, because I was forcing me to walk
the walk. That makes it any way like, still nobody
knew about my debt.
Speaker 5 (32:24):
I hadn't told anybody Like this was still very like
secret squirrel, Like I was very ashamed of this. This
wasn't something that had you asked me if I had debt.
But I think I would.
Speaker 1 (32:35):
Have lied to you.
Speaker 4 (32:36):
Yeah, that's so fair.
Speaker 1 (32:38):
Like am I proud of that?
Speaker 2 (32:39):
No?
Speaker 5 (32:39):
But yeah, I think I would have lied to you. Yeah,
Like I think I would have been like, no, I
don't know what you're talking about.
Speaker 4 (32:44):
Oh, absolutely, because there's such a stigma around like Jay,
keep go boss, Yeah, there is a stigma which we
are trying to change every single absolutely we are.
Speaker 1 (32:52):
But like, how do I change it If I'm not
going to be honest about it?
Speaker 4 (32:55):
I know that's it. But no, So you took the leap,
And I wonder, like, if there's someone listening to this
they weren't thinking about making a big career change, what's
the best advice you've got for them?
Speaker 1 (33:04):
Make a plan?
Speaker 5 (33:05):
So I took the leap for a plethora of different reasons,
Like I wasn't feeling like the engagement stuff was as
nourishing as it could be. I wasn't saying things like
that though I was just not feeling comfy with it.
And I was like, you know, peeving across the fence,
being like, what are other people doing on their job?
Looks really interesting, and like I did have the privilege
(33:26):
of like, that'syconment, so I could see what other people
were doing literally in the office I was in, and
I was like, I could definitely do that, and I
took the leap into finance, but it wasn't, you know,
an uncalculated risk ultimately, I so the first role I
took in finance was for someone else, and I was
managing their HR and like recruitment and engagement stuff inside
(33:48):
of financial advice business, and that was agreed upon because
I really wanted to be in financial advice, but obviously
I wasn't an advisor. And while I was helping with that,
I was studying to be I'm a financial advisor, and
I was finishing off my MBA at the same time,
so I was doing all of that, and I think
because I was doing my MBA, which is a Master's
(34:08):
of Business Administration, it was a lot about running a
business and operating a business because I kind of knew
that's what I wanted to do. Like winding back I
had at the time the opportunity to do my Masters
of Organizational Psychology or my Masters of Business Administration, and
I was actually working in that consulting role. That meant
(34:29):
I probably didn't need my Masters of bogsite because I
was already in the space working, So like, why would
I go and get the degree that would let me
get that job when I already had the job. So
I kind of decided that the MBA would make sense,
and through that learned a lot about managing a business,
what that would look like, and I think that pushed
me into going, no, you really do want your own
(34:50):
business at some point. So yeah, one thing led to another,
and I knew that once I became a financial advisor,
I didn't want to be a financial advisor that just
worked for someone else. I wanted to be a financial
advisor that had her own business. And so I think
from the get go there was a lot of research
into well, what does that.
Speaker 1 (35:08):
Look like, how much does that cost?
Speaker 5 (35:10):
And like I wasn't able to do that immediately, like
I was working for another financial advisory practice at the
same time as like building this up, But that was
all very transparent, I think because I've always been quite
headstrong if I want something like, I'm not going to
skirt around it and going to be like, hey, bex,
So I was thinking, this is like ultimately what I
want to achieve, but obviously I can't do that right now?
Speaker 1 (35:30):
Do you reckon?
Speaker 4 (35:31):
We could do abcdn Sure, And that's what happened. That
is so cool, And I think you've just got to ask, yeah, like,
and if you want to make a really big career change,
make a plan like, yes, you might have to take
two steps backwards, but like ultimately it might shotgun you forward. Absolutely,
you're climbing a ladder that you want to climb. Snakes
and ladders, baby, Exactly when you started making more money, yeah,
(35:54):
how did you keep yourself from slipping into old habits
and letting lifestyle creep take over good?
Speaker 3 (36:01):
I didn't.
Speaker 5 (36:01):
When I started making more money, I was contributing more
to my debt. But at the time, my debt honestly
felt like a burden still, Like I was just like
I didn't want to be putting money towards it. I
didn't see it in the way that I see debt now.
Like if you're in personal debt and you you know,
said to.
Speaker 1 (36:17):
Me V what do I do.
Speaker 5 (36:18):
I'm like, okay, cool, Like, let's make a plan and
everything that you're paying off your debt. Beck like, that's
you proving to yourself that that is one day what
your savings will be.
Speaker 6 (36:27):
Yeah.
Speaker 5 (36:28):
Like, I didn't see it that way, and I wish
that I had someone that like was like, hey, like
this is actually really good habit setting and like, look
at what you could do into the future.
Speaker 1 (36:36):
I didn't see it that way. So was I amazing
at money?
Speaker 2 (36:39):
No?
Speaker 5 (36:40):
I think I was still very much living week to week.
I did start saving some money, though. Should I have
been saving while having debt? No, but I'm not gonna lie.
That made me feel really financially secure. And so ultimately,
once I, you know, learn a lot more about finance,
and you know, I'm working in this financial advice space,
it's kind of like the plumber that has a leaky tap.
(37:01):
Just because I knew the right thing to do did
not mean I was doing it right. I knew that
I probably shouldn't be sitting on a whole heap of
savings when I had debt, because if you have debt
and you have savings, you don't have savings. So ultimately
I did end up transferring most of that to my
debt pay it off and keeping like a little emergency fund,
because I thought that was really important. And the reason
(37:24):
that was so important to me was I wasn't like
buying into that debt cycle anymore. Like whenever something popped up,
I had the cash for it, and I didn't have
to like put it back on my personal loan or
I didn't have to put.
Speaker 1 (37:36):
It on a credit card.
Speaker 5 (37:37):
And like, I remember learning about this like snowball and
avalanche method and stuff, and I was like, Okay, cool,
you know what I'm going to do this month. I'm
going to do minimum repayments on my personal loan and
I'm actually just for the next two months or however long.
I can't remember how long it took me. I'm going
to pay off that credit card because the credit card
wasn't massive, but it was a lot. And then I
closed it and I remember being like, oh my god,
(37:57):
I now only have one debt like that, It's so good. Yeah,
And so I think that for me was like that.
I started being a little bit more aggressive, and I
started seeing cash that was coming in as an opportunity
to get out of debt. Sooner as opposed to oh yeah,
I can treat myself. But it was hard to change
that mindset. And even once I got out of debt,
(38:18):
I won't say that I was incredible at money management.
I remember being like, hey, hold on, hold on, hold on,
I've been out of debt for like six months and
I've got nothing to show for it. And that's that
point where I had to sit down and go, I
need to create a money management system because ultimately I
can't be trusted like I have ADHD. I'm incredibly impulsive.
(38:38):
I've known that about myself since I was eighteen nineteen.
I've been medicated since then, so I'm not, you know,
someone who got a late diagnosis. But I didn't know
how that impacted my money. Like at the time, you
just don't know what you don't know, and like I
still had that stigma in my head that I was
that boisterous boy in grade two who's swinging on their
(39:00):
chair and being told to like sit down and stop
yelling in class. Like that was my idea of what
ADHD was, even though I'd been diagnosed with it and
had been told outright it manifests differently in women. I
was like yeah, cool, you should say that to make
me feel better about this.
Speaker 4 (39:14):
Yeah, exactly, who knows?
Speaker 5 (39:16):
So, yeah, I wasn't good at it, And it wasn't
until I created a money management system where I was like, Okay, cool,
I'm going to automate this and do this and every
single week I'm going to transfer this to this like.
It wasn't until then that I actually started getting quote
good at money, right right.
Speaker 4 (39:32):
That was after I realized that just being out of
debt didn't make me good at money, which was annoying.
Oh yeah, that's a really was like I got out
of debt though, Yeah, you shouldn't be done now, like
this is here, We're done, I should be rich exactly exactly.
So you've seen so many people's finance up close, Yes, Lucky,
what's one thing that all financially successful people seem to
(39:55):
do differently?
Speaker 5 (39:56):
Financially successful like we're talking about do you want to
know about like the rich people? Is that what you're
talking about? Are you just talking about people who are
just like good at managing money? We can talk about both.
Speaker 4 (40:06):
I think it's really just people that are good at
managing finances and they're just like comfortably wealthy I'm not
too fussed on them.
Speaker 5 (40:12):
Yeah, so comfortably wealthy. And I've had the privilege of
working with some incredibly wealthy people like I have. I
used to work in the ultra high net wealth space,
so minimum of ten million dollars investable.
Speaker 1 (40:24):
And I have had two.
Speaker 5 (40:26):
Clients in my time who have been billionaires, and so
have I experienced wealth. Yes, I think that's a lot
of the reason why I just don't. I don't want that.
I don't want to be a billionaire. But what they
have in common is they pay themselves first.
Speaker 4 (40:41):
Yep.
Speaker 1 (40:42):
So they are.
Speaker 5 (40:43):
Creating a plan, and they're not all doing this in
exactly the same way, but in a roundabout way they're
doing this. They are you know, going okay, cool, like
I need to said, like I need to put money
aside for rent, I need to put money aside for bills.
You know.
Speaker 4 (40:57):
They're talking about their savings just as like a bill,
like they just go and savings we have to put
a side X. Like they don't really think about it
in the same way that I was hystorically thinking about it,
because in my head, savings is just money I put
aside for other stuff I want exactly exactly or it's optional.
Speaker 5 (41:10):
Yeah, it's optional. No, they don't see it as optional.
That's just part of this system. And then they can
play with whatever's left. But it was always or whatever's left.
And that system, I would say works for the billionaires
and the people who have so much money they don't
know what to do with it. But also it was
working for like my housemate who had savings at UNI
(41:33):
and we were on the same system. She was just
like automating it and putting the money aside and pretending
it wasn't there. And I just didn't comprehend that that
was an option. And I also doing think with my impulsivity,
I had the ability to see savings as not accessible. Yes, yes,
so you're like, yeah, but I want it, And in
(41:54):
my head I can see that and that's going to
get me the thing that I want.
Speaker 1 (41:58):
Yeah, and I'm not really.
Speaker 5 (42:00):
Yeah, that's money for myself exactly, and you've kind of
got blinkers on about what the bigger picture looks like.
Speaker 4 (42:05):
Yeah.
Speaker 5 (42:06):
And so for me, getting serious about money meant I
had to create a plan that worked with my impulsivity,
and that was about automation and you know, having two
separate banks, not just two separate bank accounts, but my
savings went to a different bank, So when I logged
in to see my everyday spending account, I couldn't see
my savings account because sometimes I would see it and
be like ooh, opportunities like do you know what I mean?
(42:27):
Like I just needed to not be able to see it,
and that helped. But there's like, yeah, I would say
that they're paying themselves first, So whether that is a
business owner and they're just like making sure everything is
going really smoothly and they are investing in their business
before they're paying themselves, or if it's you know, my
old housemate who you know would just act like savings
(42:49):
were just part and parcel of her bill system. That
to me was a revolutionary Yeah, And now looking back,
I'm like, they all have this ability to put their
money in a system that works for them as opposed
to you know, money came into my accountant. I see
a lot of myself in you, because like I think
you and I are on the same page about you know,
(43:10):
we're at different points in our journey. But like you
say things and I'm like I get it back, yeah,
because that's me, like or it was me or you know,
I said before, like a lot of my I would
say a lot of my success. But I'm very grateful
to have a high income now because I still am
a little bit impulsive and I think that that could
maybe get me in a little bit of trouble, which
is why I try so hard to have such a
(43:31):
strict system, Like I do have a certain amount that
I pay myself every single week that I know I
can quote play with because if I don't have that,
go I'm going in our savings. I'll say sorry later,
like exactly, I just I need to have a system.
Speaker 4 (43:48):
Yeah, you can always put double savings next time.
Speaker 5 (43:50):
Well, when we tell ourselves that, oh yeah, I've never
actually done that, it's no same.
Speaker 4 (43:56):
But I thing happened.
Speaker 5 (43:57):
We should talk about that too, because it's just so hard,
Like money is hard. It's not easy, and even though
we've got more of it, like it just becomes more complex.
Speaker 7 (44:05):
Like yeah, and it's getting harder the cost of Oh,
don't even start being like that's a story for another time,
it is, OKAYVD last question, looking back at everything you've learned,
what's one change or decision you've made with money that
has had the biggest impact on your life.
Speaker 4 (44:19):
Mindset, mindsetskay, mindset, But changing the way I viewed money
changed everything. Like it wasn't a system or a process
or a budgeting app like I feel like so many people,
and I love it because you will want change, right,
Like when people are reaching out to me and they say, fore.
Speaker 1 (44:37):
You, what's your favorite budgeting app?
Speaker 5 (44:38):
I need to get my stuff together, It's like, that's
not what you need. What you need is a mindset shift.
You need to see money as a tool, Like we
need to take emotion out of money, because like I
was so covered in shame about my money, and you
know I would literally I can't remember anybody actually asking me,
are you in debt? But I just know I would
(44:59):
have lied to you, like you know what I mean.
That sounds terrible, but it's true. And I think it
was just changing this mindset around money is just a
tool and giving myself permission to just accept that, and
you know, changing this idea that I was bad at money,
because I wasn't bad at money. I just spent more
(45:19):
than I Doarn't that was it. I just spent more
money than I had earned. And I needed to fix
that and get into a better state of equilibrium and
I needed to put myself ahead, and the way to
do that was to just see it as a tool.
And it's so hard to see money as a tool
because it is inherently emotional. And I think that's where
a lot of you know, I was able to fix
(45:41):
or change my money story because it was a marriage
of finance habits and psychology and just through luck and
through my experience. I had the psychology background, and then
I also was learning about these money things and realizing
that if I didn't change my approach, it isn't going
to happen. So I think, yeah, for me, it's all
(46:03):
about mindset. And I can't say, oh, this is the
right mindset, because there's no right money mindset, but being
able to understand where I came from, why my money
story was my money story, what I felt about money,
why did it make me feel icky?
Speaker 2 (46:16):
Like?
Speaker 5 (46:16):
How did all of that work? Understanding that, and then
also going okay, cool, it's just a tool. How am
I using this? How am I making every single dollar
that comes into my account work for me? And now
that looks so different Right now, I'm you know, at
a more progressed like baby Victoria. I would never have
seen this coming, but like me talking to my husband
and about, Okay, well what was our like rate on
(46:38):
our offset?
Speaker 1 (46:39):
What did that look?
Speaker 4 (46:39):
Like?
Speaker 5 (46:40):
Okay, cool, We're going to put everything in that offset
and like move it to here to do this, and
like we're talking about investments and like that's just not
how I thought my life would be. But all of
that starts with like small money management. It starts with
having a budget, It starts with having a cash flow.
It starts with yeah, small steps in the right direction.
Speaker 4 (47:00):
I love that, Vie. You've really motivated me because I'm like,
it's so nice. I think if you're kind of like
me and you have never really had money and you
still don't really know how to manage money, you're still
kind of like perpetually broke, it seems. And then you
hear other people through and you're like, oh, you're not
that different. It's like, okay, we're I'm not like trying
to achieve something that's completely impossible for someone that.
Speaker 5 (47:21):
No, like I own differently, yeah, no, and I steal
something like impulsivity.
Speaker 1 (47:26):
I struggle with still.
Speaker 5 (47:27):
Yeah, like at the end of the day, like, yes,
I have more money, Yes I have a successful business.
Speaker 1 (47:32):
And I'm not saying that that was luck.
Speaker 5 (47:34):
Like I have worked so hard and I still work
so hard, and it says struggle every day. Not just
financially because like comfortable financially now, but just like running
a business, like I'm running three of them, Like what
are you.
Speaker 1 (47:47):
Doing, Victoria? That's crazy talk.
Speaker 5 (47:49):
But I think when it comes to the finance side
of it, I think a lot of people just assume, oh, yeah,
she must be really rich.
Speaker 1 (47:56):
Now, she must have like lots and lots of income.
Speaker 5 (48:00):
I'm comfortable for sure, but most of the business stuff
goes back into the business. Like, yes, I have a
higher income, but I'm not living in like a six
million dollar property, like I'm not, do you know what
I mean?
Speaker 1 (48:14):
Like, I'm not I'm not Richard Branson. I still am
doing a budget with my husband. Guys.
Speaker 4 (48:21):
Yeah, yeah, that's so comforting to know. Okay, I feel
like it's all we got time for.
Speaker 5 (48:26):
Unfortunately, I'm kind of glad because I feel emotionally hungover.
Speaker 4 (48:30):
Yeah, oh spent, Absolutely, we are done. I think the
biggest takeaway here is that no one is born good
with money. So if you're listening to this and thinking, god,
I'm so far behind. Just know that even Victoria Devine
once had no idea what she was doing. And I
think for anyone listening who feels stuck, this is such
a good reminder that you don't have to get everything
right straight away, you just have to start.
Speaker 1 (48:50):
I love this.
Speaker 5 (48:51):
I feel like this has been really fun and if
there are questions off the back of this episode, maybe
we can.
Speaker 1 (48:56):
Do another one. I don't know how that's fall, but
we can see.
Speaker 5 (49:00):
But I think a lot of the conversation around money
is inherently emotional. Like you can listen to six million
episodes on what the best ETFs are, and that's good
for if you're picking an ETF, but if you're just
struggling to get started, like sometimes you just want to
hear that other people have been in your shoes. And
I really don't like the idea that people would just
(49:21):
see me as being like high and mighty and oh well,
she won't get it, Like, girl, I've been there, and
I'm working my butt off to make sure I'm never
back there again, because it's not a nice.
Speaker 4 (49:32):
Feeling, absolutely, But all in not, just be kind to yourself.
Some people are really really not even in a position
where they can even start saving right now, they're probably
in the negative.
Speaker 5 (49:40):
So exactly, and that's okay. But it's not a reflection
of who you are or how good you are as
a person. It just means that you're spending more than
your earning. And do you know what some people are
forced into that right now? Oh yeah, like that's not
their fault, absolutely, but that doesn't mean they can't understand
budgeting and cash flow out what they want it to
look like one day exactly.
Speaker 1 (49:59):
In the meantime, just be learning, okay.
Speaker 4 (50:02):
And of course, if you're loving the pod, make sure
you're subscribed, leave us a review, do all the good
things you know, the drill V thank you so much
for letting me grill you today. I feel like we're.
Speaker 1 (50:11):
Thanks for grilling me and being kind.
Speaker 4 (50:13):
Oh of course, I feel like we're going to have
to do a whole other episode just and how you
actually got out of debt, because that would be a
juicy one. Yeah.
Speaker 5 (50:19):
I feel like I need to put a plan together,
so let's work on that, and guys, we will see
you on Friday for Friday drinks.
Speaker 4 (50:26):
See then bye?
Speaker 6 (50:33):
Did buy shared on She's on the Money is general
in nature and does not consider your individual circumstances. She's
on the Money exists purely for educational purposes and should
not be relied upon to make an investment or financial decision.
If you do choose to buy a financial product, read
the PDS TMD and obtain appropriate financial advice.
Speaker 1 (50:53):
Tailored towards your needs.
Speaker 6 (50:55):
Victoria Divine and She's on the Money are authorized representatives
of money showper p T T y L t D
A b N three two one six four nine two seven,
seven zero eight a F s L four five one
two eight nine
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