August 11, 2024 • 42 mins
Imagine being blindsided by a friend who left you with their debt and a partner with a secret gambling problem. That’s exactly what happened to this week's Money Diarist. But instead of giving up, she fought back, buying a home on a tight budget, and walking away with a $300k profit. Now, she’s planning her wedding and aiming to be debt-free by 33. Be inspired by this episode’s powerful story of resilience and financial recovery!
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Episode Transcript
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Speaker 1 (00:00):
Hello, my name's Santasha Nabananga Bamblet. I'm a proud Order
Order Kerni Whoalbury 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. Let's get into it.
Speaker 2 (00:34):
She's on the Money, She's on the Money.
Speaker 3 (00:57):
Hello, and welcome to She's on the Money. The podcast
were millennials who want financial freedom. Welcome back to another
one of our money daries where I get the absolute
pleasure of sitting down with one of our She's on
the Money community members and talking to them all about
their money story. Let's jump straight into it, because this
week I got a message and it sounded exactly like this,
(01:19):
Dear She's on the Money. I've always had a strong
work ethic, but my poor spending habits keep me living
paycheck to paycheck. Things worsened when I got an interest
free finance card for some furniture while I was seeing
someone with a secret gambling habit. The debt piled up
until I met my now partner, who helped me develop
a plan to get back on track. Despite being told
(01:42):
we couldn't get a mortgage, we persisted and built our
first house on a tight budget. We then went on
to make three hundred thousand dollars profit on its sale,
significantly improving our financial situation. Today, we own a beautiful
property on two point seven acres and a planning our wedding.
We can now put an additional two thousand dollars a
(02:03):
fortnight towards our mortgage, and my goal is to be
debt free by the time I turn thirty three, Money Diarist,
Are you for real?
Speaker 4 (02:12):
I'm very how exciting.
Speaker 3 (02:15):
That's beyond exciting, going from being like, oh, I've got
really pausmanning habits. My douchebag of a partner has a
secret gambling habit to being like, oh, by the way,
I live on acreage like me for real? That is
so cool. Are you proud of yourself?
Speaker 4 (02:30):
I'm so proud of myself.
Speaker 3 (02:32):
I think that is the coolest can we dive in?
Because I've got so many questions before we dive into
the juicy be its. I want to know if I
asked you to give your money habits a grade from
A through to F, what would you grade them?
Speaker 4 (02:44):
I think I'd give myself a B plus. I definitely
have come a long way, but I also still have
a very long way to go.
Speaker 3 (02:51):
Okay, all right, I don't know what a very long
way looks like to you. Given your plan is to
be debt free by by thirty three, I'm thirty three
and mortgaged to my eyeballs. I could be for real.
That is a pipe dream. So let's dive further in
money does Can you tell me a little bit more
about your money story?
Speaker 4 (03:12):
Yeah, so, my family have always had money, but it's
definitely not been something that we talk about. So growing up,
when I got my first job, I sort of didn't
have any guidance. They always told me to save money,
but I didn't have any guidance in unsaving. So once
I could work, I think I got three jobs by
(03:32):
the end of that year. When I turned fifteen.
Speaker 3 (03:34):
Oh my gosh, I had three jobs at fifteen.
Speaker 4 (03:37):
Yeah, so I've basically always had three jobs and like
I've always had a really good income, but I've just
never I just don't know where my money goes. I
didn't know where my money went. And then I moved
overseas for a little bit. When I had to come
home because I had no money and I didn't want
to ask my parents.
Speaker 3 (03:57):
For money, it ran out of cash. Annoying. You're like
living your best life and then you're like, oh, but
also that's kind of a big decision if you were
in the situation where maybe you could have asked your
parents for cash and then didn't. Like why if you
were in that situation, did you go No, I don't
want to do that, because like I'm not saying that
(04:18):
you should, but I think a lot of people, if
they were already overseas, they would have been like, oh,
I'm just going to call up the bank of Mum
and dad.
Speaker 4 (04:25):
Yeah. So I think my problem is is like my
family have money, but like I just feel a bit
guilty asking them. And I also don't like owing people.
Speaker 3 (04:35):
I get that I hate owing people money and they.
Speaker 4 (04:37):
Would be fine and they would have wanted me, like
if I had a asked for it, they would have
given it to me, but I think as well, I
was just a bit overwhelmed with how I was spending
the money, and then I just thought it was also
time to come home because I had started studying nursing,
and then I took a gap year and came back
to finish it as well.
Speaker 3 (04:57):
Oh okay, so it's like, not the worst thing that
you moved home, but a bit disheartening if you're over
there link Oh I hate this. But also I get
to go home and I get to study, and I've
got a whole heap waiting for me. So you studied
and then what next?
Speaker 4 (05:10):
Yeah. So while I was studying, so one of the
things that set me back a bit was I had
a friend and she actually asked me to go garanteur
for her, and at the time, I didn't know what
garanteur really meant. She made it sound like it was
going to be fine. She took her ten thousand dollars
alone at forty something percent interest and what just to
(05:32):
get out of debt, and she was really stressed and everything.
So I went guaranteur for her, which was fine for
a few months, and then things went a bit bad
for her and I ended up paying it, which was
really true. Yeah, she blocked me off everything so I
couldn't contact her, which was really awful.
Speaker 5 (05:51):
No, absolutely not, but I didn't tell anyone about it
because I was really embarrassed. I felt like, oh money, dirist, No,
if I knew you, then I'd be like all right,
sit down.
Speaker 4 (06:03):
Yeah. And then yeah, So with the I got a
furniture alone. It wasn't much. It was only about seven
hundred dollars, but I think I was able to spend
fifteen hundred. And then I was seeing a guy at
the time and he just used to make me feel
not make me feel guilty. He made me feel sad
for him because he always said he didn't have any money.
(06:23):
And then I started offering him money, and then I
think he really used that.
Speaker 3 (06:26):
Oh yeah he did. He absolutely did, just like your
friend abused that. Oh my gosh, you have been through
The money was.
Speaker 4 (06:34):
Yeah, so he got about two thousand and five hundred
and their friend got about three thousand. So yeah, it
was just really hard. And then I started using it
was sort of like a credit card, I guess, but
not really well, I don't know. And I started using
that to get.
Speaker 3 (06:50):
By absolutely not like not from you. I just I
cannot believe that other people put you in this financial position.
It wasn't I mean when you wrote it in, You're like,
I've got a strong work ethic, but my poor spending
habits kept me living paycheck to paycheck. No, no, no,
your poor friends. Yeah, your friends who abused this situation
(07:10):
kept you living paycheck to paycheck. Oh my god, I'm
so sorry.
Speaker 4 (07:14):
It's fine. I was so embarrassed to talk about it
to people as well, so like it was sort of
my burden. And then I met my partner now and yeah,
when we were talking about buying a house, I sort
of opened up about like the debt that I had
with the guaranteur, the guy that's just a loss for me.
Speaker 3 (07:32):
Yeah, unfortunately the.
Speaker 4 (07:34):
Guaranteur thing was just like that was still there, and
then the card as well. So he helped me come
up with a plan to pay off the card, and
then we tried the hardest to get in contact with
the girl. A few years later, so it was three
thousand and she did contact me. She had a partner
and he helped her pay off that and then they
(07:57):
eventually did pay me back.
Speaker 3 (07:58):
Then, why did she ultimately block you and ghost you
instead of communicating, like what was going on there?
Speaker 4 (08:06):
I think she was just going through a really bad time,
like she was going out and I could see she
was going out.
Speaker 3 (08:12):
That's so annoying.
Speaker 4 (08:14):
Yeah, I think it embarrassed her that she should have
been paying her word that I was paying that.
Speaker 3 (08:21):
So that is insane to me that somebody would abuse
your trust like that. Obviously you were trying to do
the right thing, and yeah, you probably didn't know what
guaranteuring alone meant. And I feel like that's something that
we can all learn from because that is something that
you know, what we call shark loans do They make
friends garan tor for them so that they've got somebody
(08:44):
else to chase up when your friend, who arguably has
really bad credit, is not able to pay their loan.
But you wouldn't have known that at that point in time.
You thought, oh, oh, of course i'll sign for you,
like I'll make sure that you're okay, Like yeah, ah,
for someone to take advantage of you like that, it
makes me so angry.
Speaker 4 (09:01):
Yeah, And in hindsight, like I am really lucky in
that it wasn't a significant amount. It could have been
a lot worse, but it just it does stuff that
people take advantage of her.
Speaker 3 (09:11):
Oh one, did you ever think of getting police involved
or was that not an option? Like what ultimately made
her get back in contact with you, My.
Speaker 4 (09:21):
Partner contacted her because she had blocked me on everything.
She was angry at me that he had contacted her.
Speaker 3 (09:30):
Sorry, sorry, I'm blocked, so I'm not able to contact you.
That it's actually on you, babe.
Speaker 4 (09:38):
But then she obviously unblocked me to contact me to
tell me that he contacted her. And then she explained
that like she just had a baby as well, so yeah,
oh my gosh, like her lifestyle decisions and everything was
baffling to me because I was like, oh my god,
(09:58):
it wasn't a significant pain each month, but like it
added up to me. But it's something that she could
have paid, she just chose not to.
Speaker 3 (10:06):
Oh and then your boyfriend calls and she's like, that's
so unfair. I can't believe it. And you're like, well, well,
well if it isn't the consequences of your own actions.
Speaker 4 (10:17):
Yeah, And I think sometimes people get really defensive because
they know that they're wrong.
Speaker 3 (10:22):
Oh, one hundred percent. I say this all the time
in my personal life. I'm like, if you have blocked me,
that's a reflection of you knowing that you've done the
wrong thing. Like, I'm an adult, I don't need to
block anybody. I do block people, I don't know if
they're abusing me on the internet, I think that's a
different story. But if I know you and you've chosen
to block me, that's because you know that you're doing
(10:44):
the wrong thing and you don't want me to see. Yeah,
it's so salty. I'm so sorry you went through that.
Speaker 4 (10:49):
I completely forgot about that, and it wasn't until my
fiance was telling me when I said I was going
to do this into and I was like, oh yeah,
I completely forgot it.
Speaker 3 (10:58):
And he's like, victorious love this money dist you better
remind her. Oh my gosh. All right, well let's talk
about more exciting things. Your partner that you are with
right now sounds like a legend. I love this. He's
helped you get out of debt and then he's also
developed a plan for you to get back on track.
So did that look like budgeting and cash flow or
(11:19):
like what was that? Was that him, you know, showing
you through your bank accounts or like doing a spreadsheet
or were you doing, you know, some stuff on the
back of an envelope? Like where did it start? How
did it work?
Speaker 4 (11:28):
Yeah, so we looked at what I was spending, and
then obviously as well, because we now had like a
duel income, he helped me a lot too, like shared
my expenses and helped pay off the rest of the
card loan, which was I think it was about five
hundred dollars. So we just paid that off and didn't
have to worry about it. And then I think a
(11:50):
lot of it I was just online shopping. So now
I'm I do not online shop a lot, even though
my algorithm terms me so much, which I'm quite smart with.
Speaker 3 (12:01):
That girl, I'm a victim of the algorithm consistently. I
don't know how I have the level of self control
that I do have, which is dismal at this point,
like I'm still impressed that I'm not buying more.
Speaker 4 (12:14):
Yeah, I know, it's so funny, Like how did you
know that I wanted that?
Speaker 3 (12:17):
Oh, it's creepy. But at the same time, I'm like,
you got me, you got me.
Speaker 4 (12:22):
Yeah. At that time as well, was when so it
was the start of COVID when they were offering the
grants for building a home. So we just went straight
to a broker and they did everything, so we sort
of knew where the money was going. I hadn't after
pay and a zip pay account, which I had to pay.
Speaker 3 (12:42):
You doubled down, you did both. I love that, Yeah.
Speaker 4 (12:45):
Pay and close them. They said, even if it's open,
it looks.
Speaker 3 (12:49):
Like you still have yeah, which is wild, not actually wild,
it makes a lot of sense. But the way that
a mortgage broke it, because as you guys probably already know,
I own a more motgage broking business. So the way
that brokers and the banks look at it is if
you say, have a ten thousand dollars credit card, they
don't go, oh my gosh, money, diarist, how much have
(13:11):
you spent on your credit card? And you go zero dollars.
They go, you've got access to ten thousand dollars, So
therefore we're going to max out what your ten thousand
dollars is because tomorrow you could go and spend ten
thousand dollars and that would be maxed out. So they
always operate on the basis that your credit lines, so
your credit card, you're after pay, your zip pay is
(13:33):
maxed out and that's how they calculate your borrowing capacity.
So they will look at it that way, which is
why your broker would have been like close those because
you probably had some nice, nice levels of credit sitting there.
But even if you had literally zero dollars on it,
the bank looks at it in a way that just goes, well, actually,
we will lend you less money because you've got that
line of credit over there.
Speaker 4 (13:55):
Yeah. It was good though, because I sort of haven't
used them and it's now buy things if I have
the money.
Speaker 3 (14:01):
Good.
Speaker 4 (14:03):
Yeah, So we got our pre approval and then we
put an offer on a block of land and then
got a quote for the build as well. But the
first broken that we went to said that we weren't
actually able to get the mortgage for that build, just
the land. And I was like, no, I don't believe that.
Speaker 3 (14:23):
You're a potato of a broker. Any good broker would
be able to find a way.
Speaker 4 (14:28):
Yeah, And she was very new to her job as well.
Speaker 3 (14:31):
Ah see, that's hard.
Speaker 4 (14:34):
Yeah, I know, I just didn't believe it. I was like, no,
I've completely changed my spending habits. I know that there's
money that we can afford and at the time, the
loan for airhouse was only sixteen hundred dollars a month.
Speaker 3 (14:46):
Now it's oh my god.
Speaker 4 (14:49):
Yeah, it was definitely affordable, Like rent was more expensive
than a mortgage at the time. So we went to
another broker and she was amazing. She was like, I
didn't understand what that person means. It looks like you'd
have like six hundred dollars a month left over after
all your spending.
Speaker 3 (15:04):
Yeah, that's where I get really frustrated. And I adore
the industry, right like mortgage broking. I've put my heart
and soul into this, right Like I got rid of
financial advice so I could focus on this. So if
that's not passion, I don't know what it is. And
I adore that there are so many new people entering
the industry, but I'm also often confused about how they're like,
(15:28):
I'm the best at this. Come and see me, and
you're like, you've only been working in this for a year.
And I totally understand that you're probably really good at
basic things, but when it comes to homeland packages, when
it comes to, you know, something even slightly complex, they
just don't have the experience and they don't have the knowledge,
and a lot of it is around actually knowing where
(15:50):
to go. So like I might go and look, you
know on the NAB website and go they don't do this,
but you, in the back of your mind go, hold on.
I know that at some point NAB did XYZ for
this other client, and I know that BDM does this.
I'm just going to call them and see what they
can do. And you need those relationships in mortgage broking
because they're the ones that actually get you across the line,
(16:11):
especially right now where everything is so much harder. So
tell me, once your new broker said, look, you can't
actually get house of land, I'll work it out for you.
What was that like? Was that exciting?
Speaker 4 (16:22):
Yeah? It was amazing because the price of it wasn't
that expensive. I think it was four hundred and forty thousand,
and we got forty five thousand from the government. And
we also built like a big, beautiful house.
Speaker 3 (16:33):
How exciting.
Speaker 4 (16:35):
Yeah, I miss it. It was a beautiful home. But
I love really living now. And then yeah, so we
lived in that for two years and this house out
of town became available, and so my grandfather and my
uncle are both real estate agents, and I just asked
for some advice, and because it was such a rundown
(16:56):
house and it obviously needed a lot of renovations. If
they hadn't cleaned it up, they could have made one
hundred thousand dollars more than what we paid. But because
it was so rundown, we got it a lot cheaper.
And also because the housing market just went crazy, we
made a three hundred and something dollar profit. Oh my god.
Speaker 3 (17:15):
Yeah, that's one of the reasons I got my first
house cheaper. Actually was because they didn't want to come
back and like tidy it up and get rid of everything,
and they weren't in the country at the time, and
they like even had like furniture and stuff that we
had to get rid of, like and it was I
was like, that's fine, that's fine, I'll take your not
so good house. I'll clean it up. It will be
perfect for us. But you can save some good money
(17:37):
that way.
Speaker 4 (17:37):
And also a lot of people that looked at the
house because we were like, there were a few it's
a lot of work, so like that's deterrent for people
to that.
Speaker 3 (17:47):
I was like, I want it, Yeah, how good? And
so then you made three hundred thousand dollars on that
property and then what happened.
Speaker 4 (17:54):
Yeah, so when we saw our house, we both had carloons.
I had just taken out a thirty one thousand or
the carlon which I paid off straight away basically, and
then he paid off his. He had about ten thousand left.
We put two hundred and sixty thousand towards the house
so we didn't have to pay the LMI, and then
(18:16):
we had thirty thousand leftover for renovations as well. So
we've done. I painted the house myself and my partner
took down walls and did all that sort of stuff,
and then we paid for a new kitchen, and then
we're just slowly renovating the rest as we go.
Speaker 3 (18:33):
How exciting. I just did my kitchen. Did you see
did you see?
Speaker 4 (18:38):
Yeah? The computer one?
Speaker 3 (18:39):
Oh my gosh, yes? Did you do your own kitchen
or did you have one installed?
Speaker 1 (18:43):
Like?
Speaker 3 (18:43):
How did that work? Because I'm obsessed. I basically am
a kitchen renovator. Now, I like, you let me know,
I'll design your kitchen. You let me know, I'll show
you how to do it. It's harder than I thought
it would be, as in like just time wise, but
so gratifying, like people come over and I'm like made that.
Speaker 4 (19:01):
So we actually did want to try the Cabudle kitchen,
but I wanted like a big farmhouse sink. Oh yeah,
it was yes, specific things that I wanted that Kabuda
couldn't do. And the price that they gave us was
fourteen thousand.
Speaker 3 (19:15):
Oh that's pretty good.
Speaker 4 (19:16):
Yeah, the person who actually did ours was only seventeen thousand,
and we got exactly what we wanted.
Speaker 3 (19:22):
So how good? And you got that big farmhouse vibe? Yeah,
oh my gosh, I love it. Are you talking like
the big I don't know if anyone else is going
to care, but like the big white farmhouse like one
that kind of sticks out a little bit. Yeah, oh
my god, I love it. I have those saved on Pinterest.
I do not have a house that that could fit in.
But one day, one day, all right, we're on the
same page. I love this. So you put in your kitchen,
(19:45):
You've now moved in, you're on two point seven acres
and you got engaged. Yes, when did you get engaged?
Speaker 4 (19:54):
I got engaged in April, so my part and I
had been to go, Oh it's fresh's so very freshly engaged.
Speaker 3 (20:02):
How exciting? And now you're planning a wedding? What's that process?
Speaker 4 (20:05):
Like, well, we sort of had already talked about it
heats anyway, so and a few of my friends had
just got married, so I had a lot of information
about it. A lot of people aren't taking bookings though,
because it is so far away.
Speaker 3 (20:17):
Oh my gosh, when are you planning on getting married?
Speaker 4 (20:20):
So March twenty six?
Speaker 3 (20:22):
I love that. That's going to give you so much
good lead up. Yeah, like how good? And have you
got like a little calendar reminder in your calendar for
the day that the venue you want is going to
start taking bookings.
Speaker 4 (20:33):
No, so we're just having it at a house.
Speaker 3 (20:36):
Oh perfect?
Speaker 4 (20:38):
How cool?
Speaker 3 (20:38):
So what's the plan?
Speaker 4 (20:40):
So it's actually perfect because it means that my part
my partner is a landscaper, so we want to do
the landscaping at our house. But it just hasn't been
an urgency, whereas now we want the house looking beautiful.
Speaker 3 (20:51):
Oh you're going to have to plant now so that
they're beautifully established. Yeah, I'm going to put my wedding
budget into that instead, and then you get to keep it.
Yeah you guys, genius.
Speaker 4 (21:01):
Yeah, And obviously because we have the land. I got
to black found out how much flowers with and I
was like, wait, I'm just going to grow them myself.
Speaker 3 (21:10):
Oh my god, You're going to grow your own flowers?
Speaker 4 (21:13):
Yeah?
Speaker 3 (21:14):
Oh, how Like what's the plan? What kind of flowers
are we growing?
Speaker 4 (21:17):
So it'll just be like just heaps of different ones,
like nothing specific, but I'll grow in September and just
see what blooms by March.
Speaker 3 (21:27):
That's actually so beautiful. Are you going to go out
on your wedding morning and pick your bouquet? Oh my god,
that is so wholesome. And talk me through the rest
of the budget, like, are you going to beat You're
growing your own flowers, You're building your own venue. Are
we making our own dress?
Speaker 4 (21:44):
Like?
Speaker 3 (21:44):
Where does the line? Where does the line exist on this?
Speaker 4 (21:47):
I wish my mum made her own dress, but I
don't think we'd be to do it now.
Speaker 3 (21:51):
I feel like the fabric would be equally as expensive
as the dress.
Speaker 4 (21:55):
Yeah, there's no real set budget for the rest. We're
just sort of like we're being reasonable, but also like
if we want something, we'll get it.
Speaker 3 (22:04):
I love it. Oh my gosh, I'm so excited. I'm
going to have to get your socials after this because
I'm going to need to follow all Right. That is
genuinely so exciting. So let's jump into the next question
I have for you. I know you came home from
overseas to study, but what do you now do for work?
And how much money do you earn?
Speaker 4 (22:21):
Yeah? So I'm a registered nurse in an emergency department
and I'm also I have my own little business through
the NDIS as a registered nurse and support.
Speaker 3 (22:30):
Oh that's exciting. Tell me about how much money you earn?
Speaker 4 (22:34):
So this year I should make between one hundred and
thirty two one hundred and fifty thousand.
Speaker 3 (22:39):
I'm okay, nurse.
Speaker 4 (22:40):
Yeah, what I know, which is amazing because I cut
down my hours at the hospital and doing more of
my own business. But I'm home more, working less and
earning more, which is really exciting.
Speaker 3 (22:54):
Okay, is that you just living the dream?
Speaker 4 (22:57):
Yeah?
Speaker 3 (22:58):
I love this for you. Can I be really what
does your partner do? How much money does he earn?
Speaker 4 (23:02):
He's a landscaper and earns about seventy.
Speaker 3 (23:05):
Five Oh, okay, bread winner. I love this for you.
That is so exciting. Do you sometimes reflect on where
you are today and you know you're going, oh between
one thirty and one fifty, which is crazy cool. And
then when I'm you were like, I am living paycheck
to paycheck. I have a finance card because I needed
some furniture. My dodgy friend has lumped a group like
(23:28):
a guaranteur bill on me, and I now have three
thousand dollars owing like, and I don't know whether money
is going to come. Do you sometimes just go life
is a little bit different now.
Speaker 4 (23:36):
Yeah. So I actually never reflected on it until I
started listening to the Money Diaries episodes, and I literally
just always get so inspired. I'm like, oh my gosh,
that's sort of me.
Speaker 3 (23:47):
Oh, I love that it is you, and now you're
on the podcast, so it's legitimately you. I love this
Money Diarist. You've got a wedding coming up, you already
have a big, beautiful property. What are your other big
money goals? What are you currently working towards?
Speaker 4 (24:02):
Yeah, so obviously our main thing is we just really
want to pay off our home. That's our big goal,
and then we would love to get into property investment,
but it's not something that's urgent at the moment, and
we do have equity sitting there in the house that
we could start doing it, but it's just not a
priority at the moment.
Speaker 3 (24:22):
Yeah, very cool. So when you say you want to
fully pay off your home by the age of thirty three,
how old are you now? What does that kind of
plan look like?
Speaker 4 (24:30):
Yeah, so I'm twenty six At the moment, I'm putting
an extra two thousand dollars a fortnight into.
Speaker 3 (24:37):
A a fortnight. Yeah, Okay, someone doesn't understand that we're
in the middle of a cost of living crisis. It
must be nice. Yeah, that is no shade, by the way,
that is just so impressive. I just love that, you know,
especially right now when so many people are struggling, there
are beautiful stories of people doing really well, like and
at the moment, especially post COVID, I think everyone agree
(25:00):
that who do we want to do really well? Frontline
workers are nurses, Like, that's exactly who I want to
see shine.
Speaker 4 (25:07):
Yeah. My partner and I have sat down that other
like we like to just evaluate like everything, like every
month or two. I think it makes both of us
feel better when we can see where our money's going.
As well. We were able to cut down a lot
of unnecessarily spending and all of our dispose of income,
Like we can see where everything's going, and I know
(25:28):
we don't really have silly spending or anything like that either,
So oh good, Yeah, we know too that, Like I
when spoke to an account about everything. Initially, we did
have different savings accounts that we were putting the money into.
That our accountants sort of said, like, if you want
to pay off your house, you're literally better just putting
all your money into your mortgage and if you need it,
(25:49):
you can take it back up.
Speaker 1 (25:50):
All right.
Speaker 3 (25:51):
I have a question about that. Do you have a
redraw facility or an offset facility on your mortgage?
Speaker 4 (25:56):
Yeah, so I have a redraw because we had such
a good inter right when we got our move to
it's only five point nine nine percent.
Speaker 3 (26:04):
Okay, she's just flexing left flowret and center today. That
must be nice. Mine is a little bit higher than that.
Speaker 4 (26:10):
Yeah, but we did talk to a broker about an
offset account and she said that they offered six point.
Speaker 3 (26:18):
One four that's not worth it at this point for you. Yeah,
like we.
Speaker 4 (26:22):
Would never take any small amount out, but it was
only twenty five dollars fee to take something out, So
it was just easier to keep the redial.
Speaker 3 (26:28):
Yeah, no, that makes sense. I ask because there's always
like a pro and a con for both. And I
kind of was expecting you to say, oh, well, we
have a redrawer because the offset was more expensive. And
that depends on when you get your mortgage and how
it works, because my mortgage is cheaper with the offset.
But it's very different for very different people. It's just
good to be educated, and it sounds like you are
very savvy, Like it sounds like you're on top of
(26:50):
this now, like I think past you is going to
be shocked at who future you has become. Let's go
to a really quick break on the flip side. I
have a lot of questions for you. I want to
know more about getting out of debt by thirty three.
I want to know about your investments, and I want
to know about your best and worst money habits. So guys,
don't go anywhere. Money Diarist. We are back, and I
(27:13):
am so excited about this money Diary because I feel
like you have flipped your narrative entirely, and I just
love this idea that you've just done it yourself, like
you and your partner have worked so hard, and I
know that. At the start of the episode, you said,
you know, my parents do have money, and you mentioned
before that some of your family members are in real estate,
so they obviously know what they're talking about. But you're like,
(27:36):
I don't want to rely on them. I want to
do this myself, and I just I have so much
respect for that, Like that is just so cool. So
I want to know, apart from the house that you
live in, do you have any investments. If so, what
are they.
Speaker 4 (27:48):
I only have a raised account so that I put
fifteen dollars a week into.
Speaker 3 (27:53):
Not only I have a raised account and I am
investing currently in the share market, Victoria is what I heard.
Speaker 4 (28:00):
Yes, my partner and I do, like we love the
idea of investing, but you could talk to so many
people and so many people tell you different things, and
it's like you can be really overwhelming almost.
Speaker 3 (28:11):
That's why I exist. It's crazy, isn't it. You get
analysis paralysis.
Speaker 4 (28:16):
So last year was really busy for us. I was
studying my POSTCRAT and my part was studying business as well.
So it was something that we sort of put on
the back thender, I guess, and it is something that
we want to look into. It's just yeah, there's just
so much information out there and we just need to
(28:37):
find what works for us as well.
Speaker 3 (28:39):
I love that. How much have you got in raise?
Speaker 4 (28:41):
I've got one hundred.
Speaker 3 (28:43):
Okay, So she's sitting at four figures and she's like, oh,
I only have rays. Like sorry, you know how many
people aren't investing. And I mean all of your cash
right now is going to the property that you're living
in because you've got this goal of paying it off,
and like, that makes so much sense. I actually expected
you to be like, no, we're not focusing on that, Like,
our focus is somewhere else. The other thing you didn't
(29:04):
mention is your superannuation. My friend, that is a tax ficle,
but inside that tax picle you are invested. So what's
your super looking like?
Speaker 4 (29:13):
So my supers for about fifty zerousand at the moment.
Speaker 3 (29:16):
Are okay at twenty six Yeah, that's definitely worthy of
mention here.
Speaker 4 (29:22):
So with nursing, they pay I think it's fifteen percent
at the moment, and with my business, I should be
putting super away. However, I did speak to my accountant
and he said, as long as you're paying super with
nursing and you want to pay off your house, just
put all that money into the house, and then once
(29:44):
you pay off the house, you can start putting the
money into SUPER.
Speaker 3 (29:46):
Yeah. I am obviously wildly passionate about small business and
I'm always talking to people about making sure that they're
looking after their super. And that's something that when I
started my business, I was really bad at I didn't
pay myself SUPER because, let's be honest, I didn't have
the cash to like, if I wanted my business to
grow and my SUPER to grow, like something was going
(30:07):
to have to give. So I don't want people thinking, oh,
Victoria is a bit delulu, like she thinks that we
have all this money in our small business. We don't.
But often when you see people who have really good
incomes and then a small business on the side, they
don't pay additional SUPER because it goes somewhere else, It
goes in line with their values. It might go to
a separate investment account, it might go to their mortgage,
(30:27):
it might go to the bills and groceries, or it
might even just go into paying down something so that
they can become debt free. So I think it's just
important to look at it, analyze what's going to work
for you, and then make a decision instead of I
think too many of us bury our heads in the sand,
especially when it comes to super money. Diarist, Sorry about
that rant. I'm just very passionate about investing. Talk me
(30:49):
through debt. Before you mentioned that your mortgage was sitting
at historically sixteen hundred bucks a month, which was really palatable,
and now it's what twenty eight hundred dollars a month.
How much of a mortgage and how much debt do
you have and what do those repayments look like?
Speaker 4 (31:05):
Yeah, so our mortgage is actually our only debt, so
we pay fortnightly for that, which is thirteen hundred dollars
a fortnight I think. Which My partner and I don't
share an account, so we do have that account together.
We do have some savings accounts together, but we do
have our own money together as well. His income he
(31:26):
pays for the mortgage, and then my income will pay
for everything else and the saving.
Speaker 3 (31:33):
Oh how cool. I like that you've split it that way.
Tell me a bit more about was that a conscious
decision or was that something that just kind of fell
into place. You're like, oh, you play the mortgage. That's
one payment. I'll deal with the rest of it because
I'm the one that always goes to the shops. Or like,
was this something that you sat down and spoke about
or just something that happened, Like I'm so pervy on
(31:54):
finances in relationships, so let me know.
Speaker 4 (31:57):
I'm pretty sure it was a conversation about whether we
should just put all our money into one account, and
then we sort of decided not to because it is
a lot easier having our own money as well. And
then when we worked out how much money we were
actually getting between us, we sort of just worked out
like what to do, and it was just easier if
(32:20):
he paid the mortgage and then I would pay for
everything else because like all that stuff was already coming
out of my accounts.
Speaker 3 (32:28):
Anyway, Yeah, okay, that makes sense. So how much is
left on your mortgage?
Speaker 4 (32:33):
We have four hundred and thirty four thousand, and the
house was six hundred and eighty five plus stamp duties
about seven hundred and twenty thousand.
Speaker 3 (32:46):
Oh my gosh, doesn't stamp duty make you feel sick?
Like when you realize how much you're like, that is
so much money.
Speaker 4 (32:52):
Yeah, and like we're in Victoria, so it was forty thousand,
but if you're in New South Wales it were in
like fifty.
Speaker 3 (33:01):
Don't talk to me about it. I bought in Melbourne
and yes, I do not want to talk about it.
I'm still triggering. Do you know what stamp duty is though,
because I find it wild? So way back in the
day they used to transfer land titles, you would have
to go to the council. You'd have to go, you know,
to a government body and you would have to go
(33:22):
in with all your papers and the other person to
like do the swap and they would put a stamp
on it from that council and say, hey, all right,
this has gone from money Darist to Victoria, or from
Victoria to money Darist. And it was there like admin
processing fee, so it used to be small. That is
now the admin processing fee for us to transfer properties
(33:44):
before real that's like a government fee or a state
fee sorry, that they charge for us to just transfer it.
There's actually not a lot of work involved. In fact,
I would argue there is less work today than the
days where you used to go in and get a
legitimate stamp on a property deed be for real.
Speaker 4 (34:04):
Yeah, it's so crazy too, because like when you look
at buying a house, if it's not your first home,
you sort of at first you don't really think about that.
And ours had a price range, so the highest one
was seven hundred and twenty, So if it had it
been about only paid seven hundred and twenty, we would
have paid seven hundred and sixty thousand.
Speaker 3 (34:21):
Yeah, it's wild, isn't it.
Speaker 4 (34:23):
Yeah?
Speaker 3 (34:23):
Oh my gosh. All right, Well, I'm excited that you're
in a good financial position, and it sounds like because
you only have four hundred and thirty four thousand dollars
left on a property that arguably cost you nearly seven
hundred thousand dollars, you've got some nice equity which is
very attractive, which is probably going to get you a
lot closer to that goal of getting into property investing
with your partner. Tell me, now, what do you think
(34:45):
your best money habit is. I feel like you've learned
a few over the last few years.
Speaker 4 (34:49):
Yeah, I think I'm very conscious with our lack with
budgeting and everything. Just we don't really even budget. It's
just that we're always looking at where our spending are
and what we can cut it down and I'm also
not impulsive, like if we were to ever make a
big purchase, we actually talk about it a lot and
think if it's worth it. And especially with renovating a house,
(35:11):
it can be like it can be a bit exciting
and you want to do things all at once, but
even though we have the money there, it's like sometimes
it's not the best time to do it. So I
think that's a good money habit that we're quite smart
with uspen.
Speaker 3 (35:24):
I feel like you guys sound like you've got good
delayed gratification, like you're able to go no, no, no,
like we don't need that today because we're going to
get a bigger, better, something down the road. I'm really
bad at that, so I'm very envious. Tell me what's
your worst habit, Sure you've got one. You can't be
this good at money.
Speaker 4 (35:45):
I do think that because I have been in positions
where I don't have money, and now that I do
have money, I can be a little bit scared to
spend it. Like we have holiday accounts and everything, and
the money's there to be spent on holiday accounts, but
I don't like spending, like I will spend money that
(36:06):
I have elsewhere, like I don't like seeing the money
get too low, which is I think because I'm so
scared of not having the money.
Speaker 3 (36:15):
Yeah, no, I get that. I feel like that's part
of your money story, Like that's part of you having
gone through situations where you were probably so stressed, and honestly,
at the start of this episode, you were saying, I
didn't even tell people that my friend had blocked me
and goes to me because I was embarrassed that I
owed this money on her. Behalf Like, I feel like
(36:35):
current you would not do that. But also, if you've
been through circumstances like that, they've created a bit of
trauma and now that still exists when it comes to
money pressure. Is that something that you're like, oh, I
totally get that, or is that something that you're like, oh,
I'm getting through it, like it's not as bad as
it used to be, or like where are you sitting
on that fence?
Speaker 4 (36:55):
Yeah, I don't really know. I think it's all very subconscious,
Like I honestly forget about a lot of things, and
it's not until I actually think back deeply into it.
Speaker 3 (37:06):
I'm like, oh, maybe that's why so normal.
Speaker 4 (37:09):
Yeah, like my mum is well off now. But my
parents had got divorced when I was a bit younger,
and she was working in like a retail store that
she just didn't earn enough money and I had a
ridiculous rent and it was quite stressing for her. And
I think, like I have seen that version of her
as well, and like, I just want to make sure
that I don't have to have that life either.
Speaker 3 (37:29):
Yeah, it's so stressful and seeing a parent go through
something like that, you want to be able to help
them and you want to be able to support them,
but at the same time you're learning along the way
that maybe that's not a path you want to take,
Like it's a very expensive gift your mum gave you. Yeah,
so talk me through this, because at the start of
(37:50):
the episode, I was like, all right, give us your money. Great,
and you're like, look for you, I think I'm a
B plus and I was like, all right, no worries.
And then we started getting into it and you're like, look,
my friend took me for a ride. You know, got
this credit card? All made sense. You used to have zippay,
used to have after pay. There's a little bit of
room for growth, but your zippay enough to pay a clothes.
You don't have that debt anymore. You've you know, wiped
(38:13):
out this debt that your friend gave you. You've always
had three jobs since you were fifteen, Like, be for real,
that's a lot of jobs. You're now a registered nurse.
You mentioned before you not only are you a registered nurse,
you've also done your grad dip like you've gone back
and done post grad studies. Not only that, you have
your own business on the side, you're earning between one
hundred and thirty one hundred and fifty grand. Like sorry,
(38:36):
fact check, just for everybody listening. She's twenty six, like you,
to me are a child, Like you are still a baby.
And that's not me being rude or mean. Like I
just look at someone who's twenty six and go, they
have their entire life ahead of them. Like the fact
that you're so well set up, you're so financially savvy
that you're having your wedding at home and you're growing
(38:57):
your own flowers. When you saw the cost of flower
like that is iconic, Like not only is iconic, but
like how beautiful You're going to have these flowers that
bloom the year after your wedding. In your garden that
were your wedding flowers. Like, ah, I just think the
sentiment will vow you there outweighs the financial benefit. You
were smart about seeing a broker. You knew when to
(39:18):
push back on a broker to make sure that you
were getting what you needed. You were like, no, you're
pretty good at this. Like, but also, you're not giving
me the outcome I need. I'm going to get a
second opinion. And that second opinion led you to getting
a property that you got to sell for three hundred
thousand dollars. More like you got a three hundred grand
profit which got you into your family home. Now, like,
(39:40):
I have a lot to go through. I'm going to
stop there though, because I think that you're getting a
sense of where I'm going with this. My friend, if
you're really a B plus, tell me what it would
take to get you to an A plus. If you've
listened to this and you're like me, maybe I'm not
a B plus? Where are we sitting after this comment station,
my friend, I'm.
Speaker 4 (40:01):
A bit more than a B plus.
Speaker 3 (40:03):
Oh really, I did not see that coming. I am
shocked and horrified.
Speaker 4 (40:09):
I wouldn't say that I'm an A plus or anything.
I think that even though, like I want to pay
off my house and stuff, I still think that it
would be beneficial for me to invest or do property
investing just for like the future as well. So I
think that would Yeah, that would be what it takes
to get to an A plus.
Speaker 3 (40:26):
But what is in the way, Like, I need to
understand what is in the way of you becoming a
property investor, because right now, all of your ducks are
in a perfect line to put you there. You right
now just need a bit more time. Is that right?
So you're telling me that time is the thing that
is going to change you from a B plus to
an A plus because your plan's perfect. Yeah, okay, all right,
(40:47):
brag about it. I'm very envious but also so in
awe that you set yourself up like this money diarist.
I am so impressed, and I'm just so glad that
I get to share your story with our community. I'm
so excited that you were a money Diary listener and
now you've become a money diarist, Like that's the coolest
thing ever. And to me, knowing that you know the
(41:09):
content that we create motivates you, Like, isn't that cool?
Like I don't know. I have to pinch myself sometimes
because often the podcast is just s you are me.
We're currently sitting online doing a zoom, just having a
chat as friends, and I've got this set of questions
that I ask all of my friends that come on
the show, and it doesn't feel like so many people listen,
and then you realize the impact in You're like, this
(41:31):
is cool. This is changing people's money stories for the better.
So I'm so glad that we've spoken and I've gotten
to share your story with the community. Unfortunately, this has
been a long one, so we have run out of
time for today, but I'm really grateful that you joined us,
so thank you, and I know our community is gonna
love this story as much as I have.
Speaker 4 (41:50):
Thank you so much for having me.
Speaker 3 (41:52):
Oh my gosh. Of course, 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
(42:14):
to buy a financial product.
Speaker 6 (42:16):
Read the PDS TMD and obtain appropriate financial advice tailored
towards your needs. Victoria divine and She's on the money.
Are authorized representatives of money Sherper Pty Ltd ABN three
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AFSL four five one two eight nine
Hello, my name's Santasha Nabananga Bamblet. I'm a proud Order
Order Kerni Whoalbury 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. Let's get into it.
Speaker 2 (00:34):
She's on the Money, She's on the Money.
Speaker 3 (00:57):
Hello, and welcome to She's on the Money. The podcast
were millennials who want financial freedom. Welcome back to another
one of our money daries where I get the absolute
pleasure of sitting down with one of our She's on
the Money community members and talking to them all about
their money story. Let's jump straight into it, because this
week I got a message and it sounded exactly like this,
(01:19):
Dear She's on the Money. I've always had a strong
work ethic, but my poor spending habits keep me living
paycheck to paycheck. Things worsened when I got an interest
free finance card for some furniture while I was seeing
someone with a secret gambling habit. The debt piled up
until I met my now partner, who helped me develop
a plan to get back on track. Despite being told
(01:42):
we couldn't get a mortgage, we persisted and built our
first house on a tight budget. We then went on
to make three hundred thousand dollars profit on its sale,
significantly improving our financial situation. Today, we own a beautiful
property on two point seven acres and a planning our wedding.
We can now put an additional two thousand dollars a
(02:03):
fortnight towards our mortgage, and my goal is to be
debt free by the time I turn thirty three, Money Diarist,
Are you for real?
Speaker 4 (02:12):
I'm very how exciting.
Speaker 3 (02:15):
That's beyond exciting, going from being like, oh, I've got
really pausmanning habits. My douchebag of a partner has a
secret gambling habit to being like, oh, by the way,
I live on acreage like me for real? That is
so cool. Are you proud of yourself?
Speaker 4 (02:30):
I'm so proud of myself.
Speaker 3 (02:32):
I think that is the coolest can we dive in?
Because I've got so many questions before we dive into
the juicy be its. I want to know if I
asked you to give your money habits a grade from
A through to F, what would you grade them?
Speaker 4 (02:44):
I think I'd give myself a B plus. I definitely
have come a long way, but I also still have
a very long way to go.
Speaker 3 (02:51):
Okay, all right, I don't know what a very long
way looks like to you. Given your plan is to
be debt free by by thirty three, I'm thirty three
and mortgaged to my eyeballs. I could be for real.
That is a pipe dream. So let's dive further in
money does Can you tell me a little bit more
about your money story?
Speaker 4 (03:12):
Yeah, so, my family have always had money, but it's
definitely not been something that we talk about. So growing up,
when I got my first job, I sort of didn't
have any guidance. They always told me to save money,
but I didn't have any guidance in unsaving. So once
I could work, I think I got three jobs by
(03:32):
the end of that year. When I turned fifteen.
Speaker 3 (03:34):
Oh my gosh, I had three jobs at fifteen.
Speaker 4 (03:37):
Yeah, so I've basically always had three jobs and like
I've always had a really good income, but I've just
never I just don't know where my money goes. I
didn't know where my money went. And then I moved
overseas for a little bit. When I had to come
home because I had no money and I didn't want
to ask my parents.
Speaker 3 (03:57):
For money, it ran out of cash. Annoying. You're like
living your best life and then you're like, oh, but
also that's kind of a big decision if you were
in the situation where maybe you could have asked your
parents for cash and then didn't. Like why if you
were in that situation, did you go No, I don't
want to do that, because like I'm not saying that
(04:18):
you should, but I think a lot of people, if
they were already overseas, they would have been like, oh,
I'm just going to call up the bank of Mum
and dad.
Speaker 4 (04:25):
Yeah. So I think my problem is is like my
family have money, but like I just feel a bit
guilty asking them. And I also don't like owing people.
Speaker 3 (04:35):
I get that I hate owing people money and they.
Speaker 4 (04:37):
Would be fine and they would have wanted me, like
if I had a asked for it, they would have
given it to me, but I think as well, I
was just a bit overwhelmed with how I was spending
the money, and then I just thought it was also
time to come home because I had started studying nursing,
and then I took a gap year and came back
to finish it as well.
Speaker 3 (04:57):
Oh okay, so it's like, not the worst thing that
you moved home, but a bit disheartening if you're over
there link Oh I hate this. But also I get
to go home and I get to study, and I've
got a whole heap waiting for me. So you studied
and then what next?
Speaker 4 (05:10):
Yeah. So while I was studying, so one of the
things that set me back a bit was I had
a friend and she actually asked me to go garanteur
for her, and at the time, I didn't know what
garanteur really meant. She made it sound like it was
going to be fine. She took her ten thousand dollars
alone at forty something percent interest and what just to
(05:32):
get out of debt, and she was really stressed and everything.
So I went guaranteur for her, which was fine for
a few months, and then things went a bit bad
for her and I ended up paying it, which was
really true. Yeah, she blocked me off everything so I
couldn't contact her, which was really awful.
Speaker 5 (05:51):
No, absolutely not, but I didn't tell anyone about it
because I was really embarrassed. I felt like, oh money, dirist, No,
if I knew you, then I'd be like all right,
sit down.
Speaker 4 (06:03):
Yeah. And then yeah, So with the I got a
furniture alone. It wasn't much. It was only about seven
hundred dollars, but I think I was able to spend
fifteen hundred. And then I was seeing a guy at
the time and he just used to make me feel
not make me feel guilty. He made me feel sad
for him because he always said he didn't have any money.
(06:23):
And then I started offering him money, and then I
think he really used that.
Speaker 3 (06:26):
Oh yeah he did. He absolutely did, just like your
friend abused that. Oh my gosh, you have been through
The money was.
Speaker 4 (06:34):
Yeah, so he got about two thousand and five hundred
and their friend got about three thousand. So yeah, it
was just really hard. And then I started using it
was sort of like a credit card, I guess, but
not really well, I don't know. And I started using
that to get.
Speaker 3 (06:50):
By absolutely not like not from you. I just I
cannot believe that other people put you in this financial position.
It wasn't I mean when you wrote it in, You're like,
I've got a strong work ethic, but my poor spending
habits kept me living paycheck to paycheck. No, no, no,
your poor friends. Yeah, your friends who abused this situation
(07:10):
kept you living paycheck to paycheck. Oh my god, I'm
so sorry.
Speaker 4 (07:14):
It's fine. I was so embarrassed to talk about it
to people as well, so like it was sort of
my burden. And then I met my partner now and yeah,
when we were talking about buying a house, I sort
of opened up about like the debt that I had
with the guaranteur, the guy that's just a loss for me.
Speaker 3 (07:32):
Yeah, unfortunately the.
Speaker 4 (07:34):
Guaranteur thing was just like that was still there, and
then the card as well. So he helped me come
up with a plan to pay off the card, and
then we tried the hardest to get in contact with
the girl. A few years later, so it was three
thousand and she did contact me. She had a partner
and he helped her pay off that and then they
(07:57):
eventually did pay me back.
Speaker 3 (07:58):
Then, why did she ultimately block you and ghost you
instead of communicating, like what was going on there?
Speaker 4 (08:06):
I think she was just going through a really bad time,
like she was going out and I could see she
was going out.
Speaker 3 (08:12):
That's so annoying.
Speaker 4 (08:14):
Yeah, I think it embarrassed her that she should have
been paying her word that I was paying that.
Speaker 3 (08:21):
So that is insane to me that somebody would abuse
your trust like that. Obviously you were trying to do
the right thing, and yeah, you probably didn't know what
guaranteuring alone meant. And I feel like that's something that
we can all learn from because that is something that
you know, what we call shark loans do They make
friends garan tor for them so that they've got somebody
(08:44):
else to chase up when your friend, who arguably has
really bad credit, is not able to pay their loan.
But you wouldn't have known that at that point in time.
You thought, oh, oh, of course i'll sign for you,
like I'll make sure that you're okay, Like yeah, ah,
for someone to take advantage of you like that, it
makes me so angry.
Speaker 4 (09:01):
Yeah, And in hindsight, like I am really lucky in
that it wasn't a significant amount. It could have been
a lot worse, but it just it does stuff that
people take advantage of her.
Speaker 3 (09:11):
Oh one, did you ever think of getting police involved
or was that not an option? Like what ultimately made
her get back in contact with you, My.
Speaker 4 (09:21):
Partner contacted her because she had blocked me on everything.
She was angry at me that he had contacted her.
Speaker 3 (09:30):
Sorry, sorry, I'm blocked, so I'm not able to contact you.
That it's actually on you, babe.
Speaker 4 (09:38):
But then she obviously unblocked me to contact me to
tell me that he contacted her. And then she explained
that like she just had a baby as well, so yeah,
oh my gosh, like her lifestyle decisions and everything was
baffling to me because I was like, oh my god,
(09:58):
it wasn't a significant pain each month, but like it
added up to me. But it's something that she could
have paid, she just chose not to.
Speaker 3 (10:06):
Oh and then your boyfriend calls and she's like, that's
so unfair. I can't believe it. And you're like, well, well,
well if it isn't the consequences of your own actions.
Speaker 4 (10:17):
Yeah, And I think sometimes people get really defensive because
they know that they're wrong.
Speaker 3 (10:22):
Oh, one hundred percent. I say this all the time
in my personal life. I'm like, if you have blocked me,
that's a reflection of you knowing that you've done the
wrong thing. Like, I'm an adult, I don't need to
block anybody. I do block people, I don't know if
they're abusing me on the internet, I think that's a
different story. But if I know you and you've chosen
to block me, that's because you know that you're doing
(10:44):
the wrong thing and you don't want me to see. Yeah,
it's so salty. I'm so sorry you went through that.
Speaker 4 (10:49):
I completely forgot about that, and it wasn't until my
fiance was telling me when I said I was going
to do this into and I was like, oh yeah,
I completely forgot it.
Speaker 3 (10:58):
And he's like, victorious love this money dist you better
remind her. Oh my gosh. All right, well let's talk
about more exciting things. Your partner that you are with
right now sounds like a legend. I love this. He's
helped you get out of debt and then he's also
developed a plan for you to get back on track.
So did that look like budgeting and cash flow or
(11:19):
like what was that? Was that him, you know, showing
you through your bank accounts or like doing a spreadsheet
or were you doing, you know, some stuff on the
back of an envelope? Like where did it start? How
did it work?
Speaker 4 (11:28):
Yeah, so we looked at what I was spending, and
then obviously as well, because we now had like a
duel income, he helped me a lot too, like shared
my expenses and helped pay off the rest of the
card loan, which was I think it was about five
hundred dollars. So we just paid that off and didn't
have to worry about it. And then I think a
(11:50):
lot of it I was just online shopping. So now
I'm I do not online shop a lot, even though
my algorithm terms me so much, which I'm quite smart with.
Speaker 3 (12:01):
That girl, I'm a victim of the algorithm consistently. I
don't know how I have the level of self control
that I do have, which is dismal at this point,
like I'm still impressed that I'm not buying more.
Speaker 4 (12:14):
Yeah, I know, it's so funny, Like how did you
know that I wanted that?
Speaker 3 (12:17):
Oh, it's creepy. But at the same time, I'm like,
you got me, you got me.
Speaker 4 (12:22):
Yeah. At that time as well, was when so it
was the start of COVID when they were offering the
grants for building a home. So we just went straight
to a broker and they did everything, so we sort
of knew where the money was going. I hadn't after
pay and a zip pay account, which I had to pay.
Speaker 3 (12:42):
You doubled down, you did both. I love that, Yeah.
Speaker 4 (12:45):
Pay and close them. They said, even if it's open,
it looks.
Speaker 3 (12:49):
Like you still have yeah, which is wild, not actually wild,
it makes a lot of sense. But the way that
a mortgage broke it, because as you guys probably already know,
I own a more motgage broking business. So the way
that brokers and the banks look at it is if
you say, have a ten thousand dollars credit card, they
don't go, oh my gosh, money, diarist, how much have
(13:11):
you spent on your credit card? And you go zero dollars.
They go, you've got access to ten thousand dollars, So
therefore we're going to max out what your ten thousand
dollars is because tomorrow you could go and spend ten
thousand dollars and that would be maxed out. So they
always operate on the basis that your credit lines, so
your credit card, you're after pay, your zip pay is
(13:33):
maxed out and that's how they calculate your borrowing capacity.
So they will look at it that way, which is
why your broker would have been like close those because
you probably had some nice, nice levels of credit sitting there.
But even if you had literally zero dollars on it,
the bank looks at it in a way that just goes, well, actually,
we will lend you less money because you've got that
line of credit over there.
Speaker 4 (13:55):
Yeah. It was good though, because I sort of haven't
used them and it's now buy things if I have
the money.
Speaker 3 (14:01):
Good.
Speaker 4 (14:03):
Yeah, So we got our pre approval and then we
put an offer on a block of land and then
got a quote for the build as well. But the
first broken that we went to said that we weren't
actually able to get the mortgage for that build, just
the land. And I was like, no, I don't believe that.
Speaker 3 (14:23):
You're a potato of a broker. Any good broker would
be able to find a way.
Speaker 4 (14:28):
Yeah, And she was very new to her job as well.
Speaker 3 (14:31):
Ah see, that's hard.
Speaker 4 (14:34):
Yeah, I know, I just didn't believe it. I was like, no,
I've completely changed my spending habits. I know that there's
money that we can afford and at the time, the
loan for airhouse was only sixteen hundred dollars a month.
Speaker 3 (14:46):
Now it's oh my god.
Speaker 4 (14:49):
Yeah, it was definitely affordable, Like rent was more expensive
than a mortgage at the time. So we went to
another broker and she was amazing. She was like, I
didn't understand what that person means. It looks like you'd
have like six hundred dollars a month left over after
all your spending.
Speaker 3 (15:04):
Yeah, that's where I get really frustrated. And I adore
the industry, right like mortgage broking. I've put my heart
and soul into this, right Like I got rid of
financial advice so I could focus on this. So if
that's not passion, I don't know what it is. And
I adore that there are so many new people entering
the industry, but I'm also often confused about how they're like,
(15:28):
I'm the best at this. Come and see me, and
you're like, you've only been working in this for a year.
And I totally understand that you're probably really good at
basic things, but when it comes to homeland packages, when
it comes to, you know, something even slightly complex, they
just don't have the experience and they don't have the knowledge,
and a lot of it is around actually knowing where
(15:50):
to go. So like I might go and look, you
know on the NAB website and go they don't do this,
but you, in the back of your mind go, hold on.
I know that at some point NAB did XYZ for
this other client, and I know that BDM does this.
I'm just going to call them and see what they
can do. And you need those relationships in mortgage broking
because they're the ones that actually get you across the line,
(16:11):
especially right now where everything is so much harder. So
tell me, once your new broker said, look, you can't
actually get house of land, I'll work it out for you.
What was that like? Was that exciting?
Speaker 4 (16:22):
Yeah? It was amazing because the price of it wasn't
that expensive. I think it was four hundred and forty thousand,
and we got forty five thousand from the government. And
we also built like a big, beautiful house.
Speaker 3 (16:33):
How exciting.
Speaker 4 (16:35):
Yeah, I miss it. It was a beautiful home. But
I love really living now. And then yeah, so we
lived in that for two years and this house out
of town became available, and so my grandfather and my
uncle are both real estate agents, and I just asked
for some advice, and because it was such a rundown
(16:56):
house and it obviously needed a lot of renovations. If
they hadn't cleaned it up, they could have made one
hundred thousand dollars more than what we paid. But because
it was so rundown, we got it a lot cheaper.
And also because the housing market just went crazy, we
made a three hundred and something dollar profit. Oh my god.
Speaker 3 (17:15):
Yeah, that's one of the reasons I got my first
house cheaper. Actually was because they didn't want to come
back and like tidy it up and get rid of everything,
and they weren't in the country at the time, and
they like even had like furniture and stuff that we
had to get rid of, like and it was I
was like, that's fine, that's fine, I'll take your not
so good house. I'll clean it up. It will be
perfect for us. But you can save some good money
(17:37):
that way.
Speaker 4 (17:37):
And also a lot of people that looked at the
house because we were like, there were a few it's
a lot of work, so like that's deterrent for people
to that.
Speaker 3 (17:47):
I was like, I want it, Yeah, how good? And
so then you made three hundred thousand dollars on that
property and then what happened.
Speaker 4 (17:54):
Yeah, so when we saw our house, we both had carloons.
I had just taken out a thirty one thousand or
the carlon which I paid off straight away basically, and
then he paid off his. He had about ten thousand left.
We put two hundred and sixty thousand towards the house
so we didn't have to pay the LMI, and then
(18:16):
we had thirty thousand leftover for renovations as well. So
we've done. I painted the house myself and my partner
took down walls and did all that sort of stuff,
and then we paid for a new kitchen, and then
we're just slowly renovating the rest as we go.
Speaker 3 (18:33):
How exciting. I just did my kitchen. Did you see
did you see?
Speaker 4 (18:38):
Yeah? The computer one?
Speaker 3 (18:39):
Oh my gosh, yes? Did you do your own kitchen
or did you have one installed?
Speaker 1 (18:43):
Like?
Speaker 3 (18:43):
How did that work? Because I'm obsessed. I basically am
a kitchen renovator. Now, I like, you let me know,
I'll design your kitchen. You let me know, I'll show
you how to do it. It's harder than I thought
it would be, as in like just time wise, but
so gratifying, like people come over and I'm like made that.
Speaker 4 (19:01):
So we actually did want to try the Cabudle kitchen,
but I wanted like a big farmhouse sink. Oh yeah,
it was yes, specific things that I wanted that Kabuda
couldn't do. And the price that they gave us was
fourteen thousand.
Speaker 3 (19:15):
Oh that's pretty good.
Speaker 4 (19:16):
Yeah, the person who actually did ours was only seventeen thousand,
and we got exactly what we wanted.
Speaker 3 (19:22):
So how good? And you got that big farmhouse vibe? Yeah,
oh my gosh, I love it. Are you talking like
the big I don't know if anyone else is going
to care, but like the big white farmhouse like one
that kind of sticks out a little bit. Yeah, oh
my god, I love it. I have those saved on Pinterest.
I do not have a house that that could fit in.
But one day, one day, all right, we're on the
same page. I love this. So you put in your kitchen,
(19:45):
You've now moved in, you're on two point seven acres
and you got engaged. Yes, when did you get engaged?
Speaker 4 (19:54):
I got engaged in April, so my part and I
had been to go, Oh it's fresh's so very freshly engaged.
Speaker 3 (20:02):
How exciting? And now you're planning a wedding? What's that process?
Speaker 4 (20:05):
Like, well, we sort of had already talked about it
heats anyway, so and a few of my friends had
just got married, so I had a lot of information
about it. A lot of people aren't taking bookings though,
because it is so far away.
Speaker 3 (20:17):
Oh my gosh, when are you planning on getting married?
Speaker 4 (20:20):
So March twenty six?
Speaker 3 (20:22):
I love that. That's going to give you so much
good lead up. Yeah, like how good? And have you
got like a little calendar reminder in your calendar for
the day that the venue you want is going to
start taking bookings.
Speaker 4 (20:33):
No, so we're just having it at a house.
Speaker 3 (20:36):
Oh perfect?
Speaker 4 (20:38):
How cool?
Speaker 3 (20:38):
So what's the plan?
Speaker 4 (20:40):
So it's actually perfect because it means that my part
my partner is a landscaper, so we want to do
the landscaping at our house. But it just hasn't been
an urgency, whereas now we want the house looking beautiful.
Speaker 3 (20:51):
Oh you're going to have to plant now so that
they're beautifully established. Yeah, I'm going to put my wedding
budget into that instead, and then you get to keep it.
Yeah you guys, genius.
Speaker 4 (21:01):
Yeah, And obviously because we have the land. I got
to black found out how much flowers with and I
was like, wait, I'm just going to grow them myself.
Speaker 3 (21:10):
Oh my god, You're going to grow your own flowers?
Speaker 4 (21:13):
Yeah?
Speaker 3 (21:14):
Oh, how Like what's the plan? What kind of flowers
are we growing?
Speaker 4 (21:17):
So it'll just be like just heaps of different ones,
like nothing specific, but I'll grow in September and just
see what blooms by March.
Speaker 3 (21:27):
That's actually so beautiful. Are you going to go out
on your wedding morning and pick your bouquet? Oh my god,
that is so wholesome. And talk me through the rest
of the budget, like, are you going to beat You're
growing your own flowers, You're building your own venue. Are
we making our own dress?
Speaker 4 (21:44):
Like?
Speaker 3 (21:44):
Where does the line? Where does the line exist on this?
Speaker 4 (21:47):
I wish my mum made her own dress, but I
don't think we'd be to do it now.
Speaker 3 (21:51):
I feel like the fabric would be equally as expensive
as the dress.
Speaker 4 (21:55):
Yeah, there's no real set budget for the rest. We're
just sort of like we're being reasonable, but also like
if we want something, we'll get it.
Speaker 3 (22:04):
I love it. Oh my gosh, I'm so excited. I'm
going to have to get your socials after this because
I'm going to need to follow all Right. That is
genuinely so exciting. So let's jump into the next question
I have for you. I know you came home from
overseas to study, but what do you now do for work?
And how much money do you earn?
Speaker 4 (22:21):
Yeah? So I'm a registered nurse in an emergency department
and I'm also I have my own little business through
the NDIS as a registered nurse and support.
Speaker 3 (22:30):
Oh that's exciting. Tell me about how much money you earn?
Speaker 4 (22:34):
So this year I should make between one hundred and
thirty two one hundred and fifty thousand.
Speaker 3 (22:39):
I'm okay, nurse.
Speaker 4 (22:40):
Yeah, what I know, which is amazing because I cut
down my hours at the hospital and doing more of
my own business. But I'm home more, working less and
earning more, which is really exciting.
Speaker 3 (22:54):
Okay, is that you just living the dream?
Speaker 4 (22:57):
Yeah?
Speaker 3 (22:58):
I love this for you. Can I be really what
does your partner do? How much money does he earn?
Speaker 4 (23:02):
He's a landscaper and earns about seventy.
Speaker 3 (23:05):
Five Oh, okay, bread winner. I love this for you.
That is so exciting. Do you sometimes reflect on where
you are today and you know you're going, oh between
one thirty and one fifty, which is crazy cool. And
then when I'm you were like, I am living paycheck
to paycheck. I have a finance card because I needed
some furniture. My dodgy friend has lumped a group like
(23:28):
a guaranteur bill on me, and I now have three
thousand dollars owing like, and I don't know whether money
is going to come. Do you sometimes just go life
is a little bit different now.
Speaker 4 (23:36):
Yeah. So I actually never reflected on it until I
started listening to the Money Diaries episodes, and I literally
just always get so inspired. I'm like, oh my gosh,
that's sort of me.
Speaker 3 (23:47):
Oh, I love that it is you, and now you're
on the podcast, so it's legitimately you. I love this
Money Diarist. You've got a wedding coming up, you already
have a big, beautiful property. What are your other big
money goals? What are you currently working towards?
Speaker 4 (24:02):
Yeah, so obviously our main thing is we just really
want to pay off our home. That's our big goal,
and then we would love to get into property investment,
but it's not something that's urgent at the moment, and
we do have equity sitting there in the house that
we could start doing it, but it's just not a
priority at the moment.
Speaker 3 (24:22):
Yeah, very cool. So when you say you want to
fully pay off your home by the age of thirty three,
how old are you now? What does that kind of
plan look like?
Speaker 4 (24:30):
Yeah, so I'm twenty six At the moment, I'm putting
an extra two thousand dollars a fortnight into.
Speaker 3 (24:37):
A a fortnight. Yeah, Okay, someone doesn't understand that we're
in the middle of a cost of living crisis. It
must be nice. Yeah, that is no shade, by the way,
that is just so impressive. I just love that, you know,
especially right now when so many people are struggling, there
are beautiful stories of people doing really well, like and
at the moment, especially post COVID, I think everyone agree
(25:00):
that who do we want to do really well? Frontline
workers are nurses, Like, that's exactly who I want to
see shine.
Speaker 4 (25:07):
Yeah. My partner and I have sat down that other
like we like to just evaluate like everything, like every
month or two. I think it makes both of us
feel better when we can see where our money's going.
As well. We were able to cut down a lot
of unnecessarily spending and all of our dispose of income,
Like we can see where everything's going, and I know
(25:28):
we don't really have silly spending or anything like that either,
So oh good, Yeah, we know too that, Like I
when spoke to an account about everything. Initially, we did
have different savings accounts that we were putting the money into.
That our accountants sort of said, like, if you want
to pay off your house, you're literally better just putting
all your money into your mortgage and if you need it,
(25:49):
you can take it back up.
Speaker 1 (25:50):
All right.
Speaker 3 (25:51):
I have a question about that. Do you have a
redraw facility or an offset facility on your mortgage?
Speaker 4 (25:56):
Yeah, so I have a redraw because we had such
a good inter right when we got our move to
it's only five point nine nine percent.
Speaker 3 (26:04):
Okay, she's just flexing left flowret and center today. That
must be nice. Mine is a little bit higher than that.
Speaker 4 (26:10):
Yeah, but we did talk to a broker about an
offset account and she said that they offered six point.
Speaker 3 (26:18):
One four that's not worth it at this point for you. Yeah,
like we.
Speaker 4 (26:22):
Would never take any small amount out, but it was
only twenty five dollars fee to take something out, So
it was just easier to keep the redial.
Speaker 3 (26:28):
Yeah, no, that makes sense. I ask because there's always
like a pro and a con for both. And I
kind of was expecting you to say, oh, well, we
have a redrawer because the offset was more expensive. And
that depends on when you get your mortgage and how
it works, because my mortgage is cheaper with the offset.
But it's very different for very different people. It's just
good to be educated, and it sounds like you are
very savvy, Like it sounds like you're on top of
(26:50):
this now, like I think past you is going to
be shocked at who future you has become. Let's go
to a really quick break on the flip side. I
have a lot of questions for you. I want to
know more about getting out of debt by thirty three.
I want to know about your investments, and I want
to know about your best and worst money habits. So guys,
don't go anywhere. Money Diarist. We are back, and I
(27:13):
am so excited about this money Diary because I feel
like you have flipped your narrative entirely, and I just
love this idea that you've just done it yourself, like
you and your partner have worked so hard, and I
know that. At the start of the episode, you said,
you know, my parents do have money, and you mentioned
before that some of your family members are in real estate,
so they obviously know what they're talking about. But you're like,
(27:36):
I don't want to rely on them. I want to
do this myself, and I just I have so much
respect for that, Like that is just so cool. So
I want to know, apart from the house that you
live in, do you have any investments. If so, what
are they.
Speaker 4 (27:48):
I only have a raised account so that I put
fifteen dollars a week into.
Speaker 3 (27:53):
Not only I have a raised account and I am
investing currently in the share market, Victoria is what I heard.
Speaker 4 (28:00):
Yes, my partner and I do, like we love the
idea of investing, but you could talk to so many
people and so many people tell you different things, and
it's like you can be really overwhelming almost.
Speaker 3 (28:11):
That's why I exist. It's crazy, isn't it. You get
analysis paralysis.
Speaker 4 (28:16):
So last year was really busy for us. I was
studying my POSTCRAT and my part was studying business as well.
So it was something that we sort of put on
the back thender, I guess, and it is something that
we want to look into. It's just yeah, there's just
so much information out there and we just need to
(28:37):
find what works for us as well.
Speaker 3 (28:39):
I love that. How much have you got in raise?
Speaker 4 (28:41):
I've got one hundred.
Speaker 3 (28:43):
Okay, So she's sitting at four figures and she's like, oh,
I only have rays. Like sorry, you know how many
people aren't investing. And I mean all of your cash
right now is going to the property that you're living
in because you've got this goal of paying it off,
and like, that makes so much sense. I actually expected
you to be like, no, we're not focusing on that, Like,
our focus is somewhere else. The other thing you didn't
(29:04):
mention is your superannuation. My friend, that is a tax ficle,
but inside that tax picle you are invested. So what's
your super looking like?
Speaker 4 (29:13):
So my supers for about fifty zerousand at the moment.
Speaker 3 (29:16):
Are okay at twenty six Yeah, that's definitely worthy of
mention here.
Speaker 4 (29:22):
So with nursing, they pay I think it's fifteen percent
at the moment, and with my business, I should be
putting super away. However, I did speak to my accountant
and he said, as long as you're paying super with
nursing and you want to pay off your house, just
put all that money into the house, and then once
(29:44):
you pay off the house, you can start putting the
money into SUPER.
Speaker 3 (29:46):
Yeah. I am obviously wildly passionate about small business and
I'm always talking to people about making sure that they're
looking after their super. And that's something that when I
started my business, I was really bad at I didn't
pay myself SUPER because, let's be honest, I didn't have
the cash to like, if I wanted my business to
grow and my SUPER to grow, like something was going
(30:07):
to have to give. So I don't want people thinking, oh,
Victoria is a bit delulu, like she thinks that we
have all this money in our small business. We don't.
But often when you see people who have really good
incomes and then a small business on the side, they
don't pay additional SUPER because it goes somewhere else, It
goes in line with their values. It might go to
a separate investment account, it might go to their mortgage,
(30:27):
it might go to the bills and groceries, or it
might even just go into paying down something so that
they can become debt free. So I think it's just
important to look at it, analyze what's going to work
for you, and then make a decision instead of I
think too many of us bury our heads in the sand,
especially when it comes to super money. Diarist, Sorry about
that rant. I'm just very passionate about investing. Talk me
(30:49):
through debt. Before you mentioned that your mortgage was sitting
at historically sixteen hundred bucks a month, which was really palatable,
and now it's what twenty eight hundred dollars a month.
How much of a mortgage and how much debt do
you have and what do those repayments look like?
Speaker 4 (31:05):
Yeah, so our mortgage is actually our only debt, so
we pay fortnightly for that, which is thirteen hundred dollars
a fortnight I think. Which My partner and I don't
share an account, so we do have that account together.
We do have some savings accounts together, but we do
have our own money together as well. His income he
(31:26):
pays for the mortgage, and then my income will pay
for everything else and the saving.
Speaker 3 (31:33):
Oh how cool. I like that you've split it that way.
Tell me a bit more about was that a conscious
decision or was that something that just kind of fell
into place. You're like, oh, you play the mortgage. That's
one payment. I'll deal with the rest of it because
I'm the one that always goes to the shops. Or like,
was this something that you sat down and spoke about
or just something that happened, Like I'm so pervy on
(31:54):
finances in relationships, so let me know.
Speaker 4 (31:57):
I'm pretty sure it was a conversation about whether we
should just put all our money into one account, and
then we sort of decided not to because it is
a lot easier having our own money as well. And
then when we worked out how much money we were
actually getting between us, we sort of just worked out
like what to do, and it was just easier if
(32:20):
he paid the mortgage and then I would pay for
everything else because like all that stuff was already coming
out of my accounts.
Speaker 3 (32:28):
Anyway, Yeah, okay, that makes sense. So how much is
left on your mortgage?
Speaker 4 (32:33):
We have four hundred and thirty four thousand, and the
house was six hundred and eighty five plus stamp duties
about seven hundred and twenty thousand.
Speaker 3 (32:46):
Oh my gosh, doesn't stamp duty make you feel sick?
Like when you realize how much you're like, that is
so much money.
Speaker 4 (32:52):
Yeah, and like we're in Victoria, so it was forty thousand,
but if you're in New South Wales it were in
like fifty.
Speaker 3 (33:01):
Don't talk to me about it. I bought in Melbourne
and yes, I do not want to talk about it.
I'm still triggering. Do you know what stamp duty is though,
because I find it wild? So way back in the
day they used to transfer land titles, you would have
to go to the council. You'd have to go, you know,
to a government body and you would have to go
(33:22):
in with all your papers and the other person to
like do the swap and they would put a stamp
on it from that council and say, hey, all right,
this has gone from money Darist to Victoria, or from
Victoria to money Darist. And it was there like admin
processing fee, so it used to be small. That is
now the admin processing fee for us to transfer properties
(33:44):
before real that's like a government fee or a state
fee sorry, that they charge for us to just transfer it.
There's actually not a lot of work involved. In fact,
I would argue there is less work today than the
days where you used to go in and get a
legitimate stamp on a property deed be for real.
Speaker 4 (34:04):
Yeah, it's so crazy too, because like when you look
at buying a house, if it's not your first home,
you sort of at first you don't really think about that.
And ours had a price range, so the highest one
was seven hundred and twenty, So if it had it
been about only paid seven hundred and twenty, we would
have paid seven hundred and sixty thousand.
Speaker 3 (34:21):
Yeah, it's wild, isn't it.
Speaker 4 (34:23):
Yeah?
Speaker 3 (34:23):
Oh my gosh. All right, Well, I'm excited that you're
in a good financial position, and it sounds like because
you only have four hundred and thirty four thousand dollars
left on a property that arguably cost you nearly seven
hundred thousand dollars, you've got some nice equity which is
very attractive, which is probably going to get you a
lot closer to that goal of getting into property investing
with your partner. Tell me, now, what do you think
(34:45):
your best money habit is. I feel like you've learned
a few over the last few years.
Speaker 4 (34:49):
Yeah, I think I'm very conscious with our lack with
budgeting and everything. Just we don't really even budget. It's
just that we're always looking at where our spending are
and what we can cut it down and I'm also
not impulsive, like if we were to ever make a
big purchase, we actually talk about it a lot and
think if it's worth it. And especially with renovating a house,
(35:11):
it can be like it can be a bit exciting
and you want to do things all at once, but
even though we have the money there, it's like sometimes
it's not the best time to do it. So I
think that's a good money habit that we're quite smart
with uspen.
Speaker 3 (35:24):
I feel like you guys sound like you've got good
delayed gratification, like you're able to go no, no, no,
like we don't need that today because we're going to
get a bigger, better, something down the road. I'm really
bad at that, so I'm very envious. Tell me what's
your worst habit, Sure you've got one. You can't be
this good at money.
Speaker 4 (35:45):
I do think that because I have been in positions
where I don't have money, and now that I do
have money, I can be a little bit scared to
spend it. Like we have holiday accounts and everything, and
the money's there to be spent on holiday accounts, but
I don't like spending, like I will spend money that
(36:06):
I have elsewhere, like I don't like seeing the money
get too low, which is I think because I'm so
scared of not having the money.
Speaker 3 (36:15):
Yeah, no, I get that. I feel like that's part
of your money story, Like that's part of you having
gone through situations where you were probably so stressed, and honestly,
at the start of this episode, you were saying, I
didn't even tell people that my friend had blocked me
and goes to me because I was embarrassed that I
owed this money on her. Behalf Like, I feel like
(36:35):
current you would not do that. But also, if you've
been through circumstances like that, they've created a bit of
trauma and now that still exists when it comes to
money pressure. Is that something that you're like, oh, I
totally get that, or is that something that you're like, oh,
I'm getting through it, like it's not as bad as
it used to be, or like where are you sitting
on that fence?
Speaker 4 (36:55):
Yeah, I don't really know. I think it's all very subconscious,
Like I honestly forget about a lot of things, and
it's not until I actually think back deeply into it.
Speaker 3 (37:06):
I'm like, oh, maybe that's why so normal.
Speaker 4 (37:09):
Yeah, like my mum is well off now. But my
parents had got divorced when I was a bit younger,
and she was working in like a retail store that
she just didn't earn enough money and I had a
ridiculous rent and it was quite stressing for her. And
I think, like I have seen that version of her
as well, and like, I just want to make sure
that I don't have to have that life either.
Speaker 3 (37:29):
Yeah, it's so stressful and seeing a parent go through
something like that, you want to be able to help
them and you want to be able to support them,
but at the same time you're learning along the way
that maybe that's not a path you want to take,
Like it's a very expensive gift your mum gave you. Yeah,
so talk me through this, because at the start of
(37:50):
the episode, I was like, all right, give us your money. Great,
and you're like, look for you, I think I'm a
B plus and I was like, all right, no worries.
And then we started getting into it and you're like, look,
my friend took me for a ride. You know, got
this credit card? All made sense. You used to have zippay,
used to have after pay. There's a little bit of
room for growth, but your zippay enough to pay a clothes.
You don't have that debt anymore. You've you know, wiped
(38:13):
out this debt that your friend gave you. You've always
had three jobs since you were fifteen, Like, be for real,
that's a lot of jobs. You're now a registered nurse.
You mentioned before you not only are you a registered nurse,
you've also done your grad dip like you've gone back
and done post grad studies. Not only that, you have
your own business on the side, you're earning between one
hundred and thirty one hundred and fifty grand. Like sorry,
(38:36):
fact check, just for everybody listening. She's twenty six, like you,
to me are a child, Like you are still a baby.
And that's not me being rude or mean. Like I
just look at someone who's twenty six and go, they
have their entire life ahead of them. Like the fact
that you're so well set up, you're so financially savvy
that you're having your wedding at home and you're growing
(38:57):
your own flowers. When you saw the cost of flower
like that is iconic, Like not only is iconic, but
like how beautiful You're going to have these flowers that
bloom the year after your wedding. In your garden that
were your wedding flowers. Like, ah, I just think the
sentiment will vow you there outweighs the financial benefit. You
were smart about seeing a broker. You knew when to
(39:18):
push back on a broker to make sure that you
were getting what you needed. You were like, no, you're
pretty good at this. Like, but also, you're not giving
me the outcome I need. I'm going to get a
second opinion. And that second opinion led you to getting
a property that you got to sell for three hundred
thousand dollars. More like you got a three hundred grand
profit which got you into your family home. Now, like,
(39:40):
I have a lot to go through. I'm going to
stop there though, because I think that you're getting a
sense of where I'm going with this. My friend, if
you're really a B plus, tell me what it would
take to get you to an A plus. If you've
listened to this and you're like me, maybe I'm not
a B plus? Where are we sitting after this comment station,
my friend, I'm.
Speaker 4 (40:01):
A bit more than a B plus.
Speaker 3 (40:03):
Oh really, I did not see that coming. I am
shocked and horrified.
Speaker 4 (40:09):
I wouldn't say that I'm an A plus or anything.
I think that even though, like I want to pay
off my house and stuff, I still think that it
would be beneficial for me to invest or do property
investing just for like the future as well. So I
think that would Yeah, that would be what it takes
to get to an A plus.
Speaker 3 (40:26):
But what is in the way, Like, I need to
understand what is in the way of you becoming a
property investor, because right now, all of your ducks are
in a perfect line to put you there. You right
now just need a bit more time. Is that right?
So you're telling me that time is the thing that
is going to change you from a B plus to
an A plus because your plan's perfect. Yeah, okay, all right,
(40:47):
brag about it. I'm very envious but also so in
awe that you set yourself up like this money diarist.
I am so impressed, and I'm just so glad that
I get to share your story with our community. I'm
so excited that you were a money Diary listener and
now you've become a money diarist, Like that's the coolest
thing ever. And to me, knowing that you know the
(41:09):
content that we create motivates you, Like, isn't that cool?
Like I don't know. I have to pinch myself sometimes
because often the podcast is just s you are me.
We're currently sitting online doing a zoom, just having a
chat as friends, and I've got this set of questions
that I ask all of my friends that come on
the show, and it doesn't feel like so many people listen,
and then you realize the impact in You're like, this
(41:31):
is cool. This is changing people's money stories for the better.
So I'm so glad that we've spoken and I've gotten
to share your story with the community. Unfortunately, this has
been a long one, so we have run out of
time for today, but I'm really grateful that you joined us,
so thank you, and I know our community is gonna
love this story as much as I have.
Speaker 4 (41:50):
Thank you so much for having me.
Speaker 3 (41:52):
Oh my gosh. Of course, 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
(42:14):
to buy a financial product.
Speaker 6 (42:16):
Read the PDS TMD and obtain appropriate financial advice tailored
towards your needs. Victoria divine and She's on the money.
Are authorized representatives of money Sherper Pty Ltd ABN three
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