May 14, 2023 • 29 mins
3 years ago she had no savings and refused to talk about money. She was also studying a health degree that she had zero passion for. Fast forward and she has followed her dreams of becoming a full time artist (and has staff), she's debt free, has tax savings, and has completely turned her money mindset around. How did she do this? Listen in to find out!
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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 yr
the Order Kerney 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.
Speaker 2 (00:33):
Let's get into it.
Speaker 3 (00:34):
She's on the Money, She's on the Money.
Speaker 2 (00:57):
Hello, and welcome to She's on the Mune, the podcast
for millennials who want financial freedom. Welcome back to another
one of my favorite episodes, the Money Diaries, where we
get to talk with one of our incredible Shees on
the Money community members all about their money story and journey.
Let's jump straight into this one because this week I
got a message and it went like this, Hi, Victoria.
(01:20):
Three years ago, I had one bank account and very
poor spending habits, no savings, and I wouldn't talk about money,
and I couldn't bear to look at our joint finances.
My husband had to beg me to make a spreadsheet
and budget as I completely refused. I left studying a
health degree to pursue my dreams of becoming an artist.
Fast forward to now, I have now been a full
(01:41):
time artist with staff for two years. I have no debt,
tax savings, three assigned bank accounts for my business. My
mindset around money has changed hugely. I am across all
our finances now and would love to discuss becoming a
business owner during the pandemic and how talking about money
and getting on with our finances has changed absolutely everything
(02:04):
money diarist, Welcome to the show. Hi, How exciting is that?
Speaker 4 (02:07):
Oh, I'm so excited.
Speaker 2 (02:08):
Such a flex Thank you.
Speaker 4 (02:10):
So I'm so tough to be here.
Speaker 2 (02:12):
I am so excited to have you imagine. I don't know.
I just think it's one of those things. To like
take your your passion full time is bloody terrifying, Let's
be honest. But as I'm sure you can attest the
best thing you'll do in your whole entire life, but
to not only have done that, but to also go
I'm not only a full time artist, guys, I'm an
(02:33):
artist with stuff like that's a flex.
Speaker 4 (02:37):
Well, to be fair, she's on matt leave, but she
still counts.
Speaker 2 (02:40):
No, she still counts, she still counts. She's I mean,
she's on matt leave from some business where she is employed. Yeah,
how good? All right, before we get into the nitty
gritty of all the questions, I want to ask you.
I want to know what grade would you give your
money habits on a scale of A through F.
Speaker 4 (02:57):
I have been mulling over this and I'm gonna say
I'm gonna sit in B A B.
Speaker 2 (03:01):
All right. Well, we're just going to save that one
for later, and we'll have a chat about that at
the end of the episode. But I'm so excited to
learn more about you. Can you tell me a little
bit more about your money story and journey?
Speaker 1 (03:13):
Oh?
Speaker 4 (03:13):
Yeah, of course. So I was challenged to my husband
because I wanted to actually pinpoint when we sat down
and we had our big chat. So it was the
Christmas of twenty nineteen, just the start of twenty twenty,
so I would have been twenty five. I was very
head in the sand, very just don't tell me how
to manage my money. I'll figure it out myself.
Speaker 2 (03:34):
I don't need nobody.
Speaker 4 (03:35):
Yep, pretty much. I was just very weak by week
the money that would come in, I would just address
what was immediately in front of me and I wouldn't
think much past that. So I'd be like, Okay, my
car bills are coming in this week. I'll just deal
with that, and I wouldn't think of anything else. It
was very I had my little binoculars on, but not
in a good way.
Speaker 2 (03:54):
Yeah, I feel like that's really relatable to a lot
of people in our community. Is that how you grew
up around money? What was it like as a child
talking about money?
Speaker 4 (04:02):
Again, very head in the sand. So I really didn't
know much about my parents' finances. They owned their own business,
and I was I don't know if it was my
own doing just not wanting to learn about it, or
if they didn't speak about it. But I was really
unaware of what, yeah, of how their finances were.
Speaker 2 (04:20):
It's pretty common. And then becoming an adult, I want
to know how old were you when you got married.
Was that something that you talked about then or was
like there a particular moment that you were like, oh, okay,
well now we're going to have to talk about finances,
or was it literally after you were married, and you
were like, all right, being told off by my husband
one too many times, I guess I'll do this budget.
Speaker 4 (04:41):
Yeah. Well, we had been saying that we were saving
for a house for quite some time, and it just
felt very loose, like, oh, yeah, we're saving for a house,
but we didn't really have much to show for it.
We didn't really have any plans in place, and we
didn't you know, didn't have a savings account for our house.
It was kind of this just this thing that we
said we would do, but we didn't really have anything
(05:02):
to show for it. So I think it kind of
got to the point where my husband was like, no,
like we need to make this happen. How can we
make this happen? And can we please talk about this?
And then yeah, that's when I started listening to Shees
on the Money because I was like, Okay, well, in
my time, I'll come around to it.
Speaker 2 (05:22):
I'll do it on my own terms. I'm not going
to listen to my husband, but I will listen to Victoria.
That's good. That's good.
Speaker 3 (05:27):
I like her.
Speaker 2 (05:28):
You can keep that up.
Speaker 4 (05:29):
I felt quite equipped when I came to the chat
because I said to him and I remember this so clearly.
It was his Christmas holidays and I was like, I'm
not doing it any sooner. We have this week allotted
and I will come prepared. And then we sat down
and then.
Speaker 2 (05:40):
Ah, so sweet. Yeah, yeah, I am obsessed with that.
So obviously you are now a full time artist, which
is so beautiful.
Speaker 4 (05:49):
Thank you.
Speaker 2 (05:49):
I want to know tell me the pervy stuff though.
What money are you earning from being a full time
artist and can you tell us a little bit more
about what that role entails, because obviously being an artist
is super broad. Yeah.
Speaker 4 (06:01):
Yeah, So I'm an artist in the way that I'm
a painter. So I create original artworks, I do prints.
I sell the licensing to some of my artworks.
Speaker 2 (06:11):
Oh my gosh, what you sell licensing? That's big dog energy.
Speaker 4 (06:14):
Thank you, thank you. I've mentored artists in the past,
I've run workshops and things like that, so it's super diverse,
which is something that I love. I'm also in the
process of getting an ADHD diagnosis, so I think that
has explains why I have, like, I love wearing so
many hats in my business.
Speaker 2 (06:32):
Yeah, I feel like and it's all really novel and exciting.
But in saying that if you're in the process of
getting an ADHD diagnosis as a business own, you'll also
probably be aware that there are some parts of your
business so you're like, per, I'm not going to work
on that at all. That's not engaging, that's not exciting.
Absolutely not. Is that something you resonate with?
Speaker 4 (06:52):
Oh, it does. But fortunately I love being involved with
my finances and it seems to be a good focus.
Like I love my graphs, I love my spreadsheets, I
love my color coding. So that seems to me a
part that it's benefited.
Speaker 2 (07:05):
Oh my gosh, how good, because I feel like I've
gotten to the point where I love helping you with
your finances talk about mine. Oh no, thank you, that's okay,
no worries, no worries. My accountant can do that, and
he can just tell me if I need to give
him more money for tax or not. That's just I
need to be better at it, because I'm definitely at
this point in time and do as I say, not
as I do. Kind of money gal, like, I'll give
(07:27):
you all the tips, but I'd prefer to talk about
your business.
Speaker 4 (07:29):
Oh yes, I've just circled back. I realized I didn't
act to answer your questions. So the nitty gritty. So
this year, I'm looking at a turnover of about one
hundred thousand dollars.
Speaker 2 (07:38):
Oh my gosh, yes, queen.
Speaker 4 (07:40):
Yeah, which is really exciting. But then I've also registered
for GST, which hurts, yes, and then obviously saving for
tax and expenses. I pay myself anywhere, so I draw
a wage, which is really exciting, and I pay SUPER.
So I pay myself anywhere from about eight hundred to
nine hundred dollars a week and about anywhere between, say
(08:01):
fifty to eighty dollars a week in SUPER.
Speaker 2 (08:04):
Oh how good. I'm so glad that, as a young
artist you're prioritizing that it is so important.
Speaker 4 (08:10):
Yeah, so you can definitely understand the pull as to
why people don't want to pay their SUPER because it's
not that sexy.
Speaker 2 (08:17):
Let's be honest. Out of sight, out of mind a
lot of the time.
Speaker 4 (08:21):
Yeah, yep. So every Friday, I have my little SUPER
contribution that comes out of my account, my little salary
that comes out of my account to pay myself. And
then yeah, I spend about two and a half thousand
dollars a month on expenses and materials and subscriptions, you know,
all that kind of stuff.
Speaker 2 (08:37):
Hey, that's not too bad. And I think as a
business owner, fellow business owner, I really struggle when I
don't know what my expenses are. Like I could tell
you right now exactly what my payroll costs, what my
super costs, what my tax is looking like in all
of that. And I know that I'm saying that I've
got my head in the sand. I absolutely do. I'm
in the very privileged position where I now can just
pay an accountant to give me a monthly summary of
(08:59):
like where it's at, like feel in control without having
to do all of the time that I used to.
But it's actually not that common for business owners to go, yeah,
it's about two and a half grand of operating expenses
per month. Like I feel like so many of us
just fly by the seat of our pants and have
no idea what that's going to cost, or no idea
what that actually looks like because they haven't spent the
time to sit down and quantify it, which is so important.
(09:22):
Please do it.
Speaker 4 (09:23):
I have a bit of a running joke that everything
goes through zero.
Speaker 2 (09:27):
I just love zero.
Speaker 4 (09:28):
Oh zero is so good. My account is very happy
about that. But I also have Excel as well, where
I like I double check zero, and I also can
have the pretty color coordinated you know, graphs and things
like that I really like. Like to me, it's really
satisfying watching particularly my income. I like tracking, you know,
like what percentage of my income is coming from prince,
(09:49):
what percentage is coming from artworks, And I find it
really helps me guide my business.
Speaker 1 (09:55):
Yeah.
Speaker 2 (09:55):
No, I love that, and I feel like it's all
about the tools that can help us. For some people,
they'd be like, that's double dipping. I don't like that,
But for you, obviously that's what's going to keep you
engaged and empowered in feeling like you're on top of things.
I'm exactly the same, Like I love a good spreadsheet,
and I don't care how many times my accountants tell
me that you can just generate a similar report on zero.
Speaker 4 (10:18):
It's not same.
Speaker 2 (10:18):
It's not same, it's not same. I would like to
build it myself, and then I want to cross check
it and feel like I've actually gone through every single
line item, because an output sometimes just for me, isn't enough.
I want to feel like I've built that myself, and
I know that I'm in complete control. But that's the
I guess, the inner treasurer in me.
Speaker 4 (10:38):
Yeah, and I can really relate, Like I like analyzing
and seeing where my cash flow is going and how
I'm spending my money, and I do find it really empowering,
which I think is something that's changed and that you know,
looking back, definitely was not on me, Like, was not
what I was doing a few years ago.
Speaker 2 (10:52):
Yeah, totally.
Speaker 1 (10:54):
All right.
Speaker 2 (10:54):
You obviously had this chat with your husband because you
wanted to buy your first home. I want to know
right now what your big money goal is, like what
are you working towards in business and in your personal life.
Speaker 4 (11:06):
Yeah, so the personal one be to buy a house.
So we'd love to have forty to fifty thousand dollars
towards our first home, and we're sitting in about twenty
three twenty four thousand dollars, which is.
Speaker 2 (11:17):
Exciting tracking well, thank you.
Speaker 4 (11:20):
And my biggest goal in my business'd be to have
my own gallery slash studio slash shop shopfront, which is
just yeah, we can come all things in my art basically.
Speaker 2 (11:34):
How beautiful would that be. I know it's going to happen,
it's just when it's going to happen. What kind of
planning you're doing to get to achieving that goal.
Speaker 4 (11:43):
That's a really funny question because I think I'm going
to have to set up maybe another bank account, so
to preface, so personally, we have a bank account for everything.
So we have like a bank account for our dog,
our petrol, our personal medical, our groceries.
Speaker 2 (11:58):
Like you're the Jessica RICKI right, I'm on it. She
does the same thing I could never.
Speaker 4 (12:03):
So I reckon what I will do. And what I've
actually done is I've set up a high interest savings account,
which next financial year I'm going to start popping some
money into that. I kind of forget that it's there,
but I know that it's growing money towards that big goal.
Speaker 2 (12:17):
How good. I love this and I feel like it's
going to happen soon. How much are you contributing on
average to your home savings? And I guess what's the
split between your contributions versus your husband's contributions.
Speaker 4 (12:29):
So I guess it's like a little bit of the
bucket analogy that we put it all into one account,
then it splits out. So at the moment he is
putting in eight hundred and fifty a week and I'm
putting in eight hundred and of that, we are putting
three hundred and fifty five dollars towards our savings a week.
Speaker 2 (12:46):
Oh how good is that?
Speaker 4 (12:48):
Yeah, it's really satisfying to watch it grow.
Speaker 2 (12:50):
How are you managing that? I feel like that's a lot.
Speaker 4 (12:53):
Yeah. We are really on top of analyzing our spending.
So like, for example, he just got to pay increase
two weeks ago, so that extra hundred dollars that he
was putting in, we really sat down and we were like, okay,
where can it go? You know, our dog vet bills
like she's getting older, so we put away like seventy
dollars a week for her, which we joke is rent,
(13:14):
like we're paying to rent her.
Speaker 2 (13:16):
Yeah yeah, fair fair, And we don't.
Speaker 4 (13:19):
Have as much fun money as we would like.
Speaker 2 (13:21):
Everybody would like a little bit more fun money. But
it sounds like you're really knuckling down to get these
goals happening. And that makes me so proud and so excited.
How long do you think it'll be before you're able
to start looking at purchasing your first home next year? Exciting?
And you know what it sounds like I'm just going
to take a stab in the dark. You mentioned zero,
(13:42):
you mentioned how good you are at bookkeeping. I don't
think it's going to be an issue at all as
a business owner to actually get finance for that, because
the biggest sticking point for small business owners who want
to get loans is that they don't have good bookkeeping
and they're not keeping track of their finances and they
can't show, you know, year on year profit. And if
you can't do that, well, the bank's not going to
(14:02):
lend to you. But it sounds like you're not in
that position at all. My friend, Oh, thank you, And
it's really nice.
Speaker 4 (14:06):
Like we met with a mortgage broker a couple of
weeks ago just to kind of see where we were at.
And my mom's actually a book keeper, which is the
hilarious part of all this, and she looked at my
books and she's like your mother's daughter.
Speaker 2 (14:16):
Ah, You're like, yes, but don't tell mum because I'm
taking the credit. Don't give it to her. Don't give
her the credit. Pretty much, All right, let's go to
a really quick break on the flip side. I want
to talk about debt's investment and what your best and
worst money habits are, guys, don't go anywhere. All right,
(14:37):
money diarist, we are back. I am so excited to
be talking to you. Before we get into the structured questions, though,
I want to know you were an occupational therapist but
didn't enjoy it, and now you are a full time artist.
What was that trigger point to go, you know what,
I'm just going to go all in on this. I'm
going to start doing art as my full time job.
(14:59):
I feel like for so many people that's just a
pipe dream, like they might be working in a different
area and going, Oh, I'm so passionate about this, but
I don't know if doing paintings is gonna you know,
pay the rent. How does that work for you?
Speaker 1 (15:12):
Like?
Speaker 2 (15:12):
Where was the turning point of you know what, I'm
going boots and all in, I can do this.
Speaker 4 (15:16):
So I never actually graduated that degree, So that is
probably one of the biggest points in that I knew
that if I had finished my degree, I would have
followed through with it and I probably would have practiced
in it. And I think it was the decision to
opt out and not finish the degree and kind of
give myself that breathing space to be like, Okay, so
(15:37):
I knew that wasn't for me. Kind of what now
and that's yeah, And that's kind of how I fell
back into it. Like I just started painting. I was
just working in my casual, part time job that I had,
and then I just started painting. And then I was like,
all right, well, it was never the intention to get
back into this, but then it just kind of started happening.
People started buying, and I thought, well, I haven't really
(15:57):
got anything to lose. I'm covering my bill of living.
What if I try and make this work?
Speaker 2 (16:04):
How did you start selling your art? I have so
many friends who are beautiful artists, and I feel like
I'm jumping down their throats all the time, being like,
charge more for your art, charge more for your time.
You are worth this, and they just don't seem to
see it. How have you known? How do I guess
charge your worth and know what to do? Because let's
(16:25):
be honest, if you're creative, that doesn't usually lean into
being really good at the business side of things. And
that's not me saying that that's a bad thing. It's
just as a creative human being, like you don't really
lean into that type of role very easily, and it's
not something that you find really sexy. You seem to
be a unicorn though. You're obsessed with zero and with painting,
(16:46):
which I adore, but a lot of us who are
a bit more creative, we're just not that good at it.
How did you structure this so that it could become
a successful business, I think.
Speaker 4 (16:57):
Because I enjoy the business side of it as well.
And I think that's something like I put so much
time into my social media and I consider it a
part of the job. It is not an afterthought. It
is how I communicate my art to people. It is
how I connect to my customers, and that's how I
engage with them. And I think that can be the
real downfall that people are just like and you know,
(17:18):
they say to me, oh, I just so got on
social media, and I'm like, yeah, but guys, it's for me.
This is part of my role.
Speaker 2 (17:24):
Yeah yeah, I couldn't agree more. Like that's how you're
going to connect with your community. That's gonna be, I guess,
the ticket to getting into people's homes and into people's hearts.
And I think that we get that a lot too.
Ache's on the money. People will say, oh, you guys
are so good at it. I'm like, yeah, Jess does
that full time as a job. And I did so
many hours of that before Jess started to make sure
(17:45):
that it was building properly. It was never an afterthought.
It was always something where I went, all, right, what's
the strategy, what's going on, how's this going to work?
What types of content are we posting? How often are
we posting that, How present are we going to be
on our stories? What's appropriate to be on our stories
versus what's not. And I think that through trial and error,
you learn what your community likes and then you overlay
(18:06):
that over the top of the strategy. But I think
a lot of people just assume it's about waking up
in the morning every morning, I'm just thinking of something
good to post, and that's not it is it?
Speaker 4 (18:16):
It's not? And I think like Instagram is such a
beautiful thing, and I think that has changed recently that
suddenly collectors have an immediate way to connect with the artists.
Where is it used to be going through galleries or
going through stockers, Whereas it's a really beautiful thing now
that people can actually speak with directly with the artist,
which I think is.
Speaker 2 (18:34):
Really, really actually one of my favorite things. I follow
a lot of artists online, and there are a few
artists that I follow because I'm obsessed with them, but
I can't afford a piece of their work yet, and
I think that that is, you know, even one of
the best ways to support them, by showing them that
not only Okay, I might not be in a position
(18:54):
to purchase your artist yet, but I'm going to like
your content, follow your content, and give you the engagement
so that hopefully you find more people like me who
might be ready to buy, and at some point they
kind of like goal pieces, Like I feel like art
for me is something that I buy to really recognize
a certain part of my life or an achievement that
I have gone through. It's not really a frivolous purchase,
(19:16):
but that's why interacting with the artist as you go
it makes it even more special. Like it's as though
I get to follow your journey and see where you've
been up to before I make that purchase, and it
can be so special, so I can see exactly why
that would work so well for you. But also, I
guess just change the dynamic because you're right. It used
to just be artists going into galleries, and then it
(19:39):
would only be people who were interested in taking the
time to go to a gallery. Now I'm watching the
batchie and I'm also checking out what my favorite artist
is doing, and I get the best of both worlds,
you know.
Speaker 4 (19:50):
Yeah, and you know what the artist wins because they're
not losing you know, anywhere between thirty to fifty percent
commission exactly.
Speaker 2 (19:57):
It's genius. I love it all right. I want to
talk about money again, which I don't think you're going
to be mad about. I want to know do you
have any investments. If so, what are they.
Speaker 4 (20:06):
We have an investment portfolio that's sitting at one thousand dollars.
Speaker 2 (20:10):
How cool? How did you decide to start investing on
the platform you chose?
Speaker 4 (20:15):
So we're currently investing with Vanguard. So my husband is
more of the cautious type, so he felt very secure
and that was kind of he kind of pictured it as,
you know, like a safe kind of investment. And to
be fair, it's not something that I have looked totally into,
whereas I think for me a little bit, my blinkers
(20:36):
are on investing in my business. But investment portfolios. That's
where we're currently sitting at.
Speaker 2 (20:40):
Yeah, that's very cool when it comes to being conservative.
I can see why maybe Vanguard was a choice that
you made. It's one of the biggest investment houses in Australia,
very well known internationally. They do, you know, from my understanding,
very good investment portfolios. But what led you to that decision?
What research did you guys do before or was this
something that your husband just said, all right, well I'm
(21:02):
going to put the money in a Vanguard and you're like, yep, cool,
focused on the business, have fun, honey.
Speaker 4 (21:07):
A little bit of Columbine, a little bit of columbe.
I had done, you know, very little research. I had
heard the word Vanguard thrown around and that kind of thing,
and I said, yeah, look that's fine. I said, I
would rather just us start investing in something and then
I will have a look later. Like I've said to him,
you know, I do want to start, you know, maybe
having slightly risk your investments. I said, I would like
(21:28):
something with a higher return. And it's funny, he goes, yeah,
He's like sure, it's like, do your research, pitch it
to me, and he's like, of course, we can do it,
And I was like, yeah, that's fair.
Speaker 2 (21:35):
I love that. I feel like they're the sexiest conversations
between married couples, like what are we going to invest
in next? Yes?
Speaker 4 (21:41):
Get it?
Speaker 2 (21:42):
Love it? Yeah, I want to know. Now, obviously you're
saving for your first home, but do you have any debts?
If so, what are they?
Speaker 4 (21:49):
Yeah? So the only debt that I have at the
moment is my hex stet.
Speaker 2 (21:54):
And what is that sitting at And how do you
feel about it? Given that? How do you feel about
the indexation going up in June?
Speaker 4 (22:01):
Oh, it's painful. It's it is the one reminder of
the degree that I didn't finish, and it's just growing.
It's yeah, it's frustrating.
Speaker 2 (22:10):
I mean, it got you to where you are today
and taught you exactly what you wanted to know. So
it's not the biggest waste of money. So you've just
got hex and that is it.
Speaker 4 (22:19):
Yeah, yep. So like we own our cars, I've got
no debt for my business. And that's something that I'm
really conscious of because I know that there are so
many things that I could go out and buy tomorrow
that would be wonderful for my business, that would put
me into debt, and I just at this point in time,
I just can't justify the mental load that would come
with that.
Speaker 2 (22:39):
Yeah, that's absolutely fair. I feel like you over the
last few years. I mean we've only spent nearly half
an hour together, but I already know this is going
to be true. You've changed your money mindset and probably
adopted a lot of good money habits. I feel like
everything about your financial journey has changed. But I want
to know what do you think is your best money habit.
Speaker 4 (23:00):
I think my best money habit would be consciously staying
on how our money is being split up, So like
checking if our bills have changed, so like we've just
moved recently and we have solar now, so like our
power bill went down, so we were like, okay, we
don't have to put as much away for bills. How
can we use that? My husband just changed phone company,
(23:20):
so his power, like his phone bill is less. Like,
I think that would be our best money habit. And
staying within our means, so like we have a set
budget per week for our groceries, and we're really conscious
to be like, this is how much money we have
this week. We will work within that.
Speaker 2 (23:34):
Yeah, how cool. I don't want to bring the mood down,
but I also want to know your worst money habit,
my friend, what is it?
Speaker 4 (23:42):
Coffees, brunch and buying paint that I probably did not need?
Speaker 2 (23:47):
The first two completely resonate with We're going to be
best friends. Can't say I've ever bought paint I'm not
going to need, but can say I've invested in a
lot of audio gear that I definitely didn't need. Was
it shiny?
Speaker 4 (24:00):
Yes?
Speaker 2 (24:00):
Do I think that I would look cool with that
set of headphones on? Absolutely, We're going to need them.
Speaker 4 (24:06):
It's funny because I will buy the same paint twice
and will have clearly had the same thought process, Like
I'll be at the shops like, oh, French blue, that
sounds great, and then I'll come home and be like,
clearly had that thought last week.
Speaker 2 (24:17):
I thought this before. I mean, I'm not a doctor.
I can't diagnose you. But that's very adhd of you,
my friend.
Speaker 4 (24:24):
Yeah, I'm very like I'm in the process of the
diagnosis of this look, and it's pretty much like I'm
ninety five percent there. I'm waiting for the final tick.
Speaker 2 (24:32):
It's actually very funny. On the weekend, I went shopping
with one of my girlfriends and I saw this pair
of pajamas that I was like, Oh, I love these.
They're like a navy pair of long sleeve pajamas. And
I was trying to convince myself. I was like, you
know what, I do need new long sleeve pajamas because
obviously winter's coming. Genius. And then I said to her, no,
I'm going to put twenty four hours between this. I'll
(24:53):
come back and get them if I really want them, Like,
it's not too far. I need to be better at this.
She was staying at my house for the weekend because
it was over the Easter Long weekend, and I came
out that night to grab a glass of wine after
my shower in a pair of long sleeve, maybe blue pajamas,
and she said, Victoria, I thought you didn't buy those.
And I'm like, oh, no, these are my old ones
I forgot I had, and she said they're identical to
(25:15):
the ones you were trying to buy today, and I said, yep,
that's exactly why I need to put twenty four hours
between me and my spending, so that I can remind
myself you already have that at home, babe.
Speaker 4 (25:24):
Yeap. Oh so so relatable.
Speaker 2 (25:27):
Like it's like I'm a goldfish. I'm like, oh, blue pajamas,
that's wild. I would like though, that's new, that's new,
that's shiny.
Speaker 4 (25:37):
I've literally done that with like two or three colors
that I looked at last week. I was like, oh,
I'm going to try that. Yeah, had that thought two
weeks ago. But anyway, Glass not just me.
Speaker 2 (25:45):
Oh no, you need a better system. You need a
better filing system. I find that taking photos of everything
and keeping it in my album so that I can
look back on it and go into my phone. You
could even have like a little album called paint Colors
and you can flip through check if you've got it,
so that you don't double up and buy again, because
I'm the worst at that as well. The amount of
(26:06):
white dresses I have is obscene.
Speaker 4 (26:09):
But I bet they're all stunning.
Speaker 2 (26:11):
Yeah, but they're all the same. They're all the same,
all stunning, but all the same. All Right, Now that
we've had a chat, I feel like you are such
a vibe. I am loving this. I love that you
have your own business. I love that you're so passionate
and vibrant about it. I love that you are saving
up to buy your first home, You're investing, you're saving.
(26:31):
Oh my gosh, I'm so excited with the fact that
you're a business owner paying yourself super like that's queen behavior.
But you said you're a B. So I want to
know two things. Firstly, do you still think after our
chat that you're just a B? And what would it
take for someone like you to get to an A.
Speaker 4 (26:48):
Look, I just think cut back on the unnecessary branches,
and I think your tips are actually just checking what
I need to buy and rolling with that. And I
think it would like upgrade me to an A.
Speaker 2 (26:57):
Yeah, okay, so like a few small steps and actually
make a really big impact. I think that's not bad.
Oh my gosh, money Darist. This has been such a
fun episode to record and so fun like I feel
like knowing where you've come from and where you're going
our shared lovers spreadsheets like this is going to be
a fun episode for everyone to listen to. Thank you
so much for spending time with us. I'm so grateful.
Speaker 4 (27:19):
Oh no worries. Thank you for having me. And I
really hope that my story resonates with other people and
people that feel overwhelmed by spreadsheets and that can just
listen to this and see that there is light on
the other side.
Speaker 2 (27:33):
What would be your number one tip? Obviously you can't
just decide, Okay, I'm going to be good at spreadsheets today.
Where would you recommend people start if they're feeling overwhelmed
and not ready to have budget and cash flow conversations?
Speaker 4 (27:48):
Set a date, Set a date, and like have someone
hold you accountable and then kind of do whatever you
need to feel ready to have that chat.
Speaker 2 (27:56):
I love that.
Speaker 4 (27:57):
Like, whether if it's you know, listen to some Shees
on the Money episode, whether it's buying a book, whether
it's sitting down and having looking through your bank accounts,
like you do what you need to do in that
time to prepare yourself to get really hands on with it.
Speaker 2 (28:10):
Oh how good? I love that. That is perfect advice
to end this episode on. Thank you so much for
your time. It has been an absolute pleasure.
Speaker 4 (28:18):
Oh no, Wrris, thanks for having me, and yeah, thank you.
Speaker 2 (28:27):
The advice shared on She's on the Money is general
in nature and does not consider your individual circumstances. She's
on the Money exists purely for educational purposes and should
not be relied upon to make an investment or financial decision.
If you do choose to buy a financial product.
Speaker 3 (28:43):
Read the PDS TMD and obtain appropriate financial advice.
Speaker 2 (28:47):
Tailored towards your needs.
Speaker 3 (28:48):
Victoria Divine and She's on the Money are authorized representatives
of Money Shop Pty Ltd. ABN three two one is
six four nine two seven seven zero eight af SEL
four five one two eight nine
Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
the Order Kerney 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.
Speaker 2 (00:33):
Let's get into it.
Speaker 3 (00:34):
She's on the Money, She's on the Money.
Speaker 2 (00:57):
Hello, and welcome to She's on the Mune, the podcast
for millennials who want financial freedom. Welcome back to another
one of my favorite episodes, the Money Diaries, where we
get to talk with one of our incredible Shees on
the Money community members all about their money story and journey.
Let's jump straight into this one because this week I
got a message and it went like this, Hi, Victoria.
(01:20):
Three years ago, I had one bank account and very
poor spending habits, no savings, and I wouldn't talk about money,
and I couldn't bear to look at our joint finances.
My husband had to beg me to make a spreadsheet
and budget as I completely refused. I left studying a
health degree to pursue my dreams of becoming an artist.
Fast forward to now, I have now been a full
(01:41):
time artist with staff for two years. I have no debt,
tax savings, three assigned bank accounts for my business. My
mindset around money has changed hugely. I am across all
our finances now and would love to discuss becoming a
business owner during the pandemic and how talking about money
and getting on with our finances has changed absolutely everything
(02:04):
money diarist, Welcome to the show. Hi, How exciting is that?
Speaker 4 (02:07):
Oh, I'm so excited.
Speaker 2 (02:08):
Such a flex Thank you.
Speaker 4 (02:10):
So I'm so tough to be here.
Speaker 2 (02:12):
I am so excited to have you imagine. I don't know.
I just think it's one of those things. To like
take your your passion full time is bloody terrifying, Let's
be honest. But as I'm sure you can attest the
best thing you'll do in your whole entire life, but
to not only have done that, but to also go
I'm not only a full time artist, guys, I'm an
(02:33):
artist with stuff like that's a flex.
Speaker 4 (02:37):
Well, to be fair, she's on matt leave, but she
still counts.
Speaker 2 (02:40):
No, she still counts, she still counts. She's I mean,
she's on matt leave from some business where she is employed. Yeah,
how good? All right, before we get into the nitty
gritty of all the questions, I want to ask you.
I want to know what grade would you give your
money habits on a scale of A through F.
Speaker 4 (02:57):
I have been mulling over this and I'm gonna say
I'm gonna sit in B A B.
Speaker 2 (03:01):
All right. Well, we're just going to save that one
for later, and we'll have a chat about that at
the end of the episode. But I'm so excited to
learn more about you. Can you tell me a little
bit more about your money story and journey?
Speaker 1 (03:13):
Oh?
Speaker 4 (03:13):
Yeah, of course. So I was challenged to my husband
because I wanted to actually pinpoint when we sat down
and we had our big chat. So it was the
Christmas of twenty nineteen, just the start of twenty twenty,
so I would have been twenty five. I was very
head in the sand, very just don't tell me how
to manage my money. I'll figure it out myself.
Speaker 2 (03:34):
I don't need nobody.
Speaker 4 (03:35):
Yep, pretty much. I was just very weak by week
the money that would come in, I would just address
what was immediately in front of me and I wouldn't
think much past that. So I'd be like, Okay, my
car bills are coming in this week. I'll just deal
with that, and I wouldn't think of anything else. It
was very I had my little binoculars on, but not
in a good way.
Speaker 2 (03:54):
Yeah, I feel like that's really relatable to a lot
of people in our community. Is that how you grew
up around money? What was it like as a child
talking about money?
Speaker 4 (04:02):
Again, very head in the sand. So I really didn't
know much about my parents' finances. They owned their own business,
and I was I don't know if it was my
own doing just not wanting to learn about it, or
if they didn't speak about it. But I was really
unaware of what, yeah, of how their finances were.
Speaker 2 (04:20):
It's pretty common. And then becoming an adult, I want
to know how old were you when you got married.
Was that something that you talked about then or was
like there a particular moment that you were like, oh, okay,
well now we're going to have to talk about finances,
or was it literally after you were married, and you
were like, all right, being told off by my husband
one too many times, I guess I'll do this budget.
Speaker 4 (04:41):
Yeah. Well, we had been saying that we were saving
for a house for quite some time, and it just
felt very loose, like, oh, yeah, we're saving for a house,
but we didn't really have much to show for it.
We didn't really have any plans in place, and we
didn't you know, didn't have a savings account for our house.
It was kind of this just this thing that we
said we would do, but we didn't really have anything
(05:02):
to show for it. So I think it kind of
got to the point where my husband was like, no,
like we need to make this happen. How can we
make this happen? And can we please talk about this?
And then yeah, that's when I started listening to Shees
on the Money because I was like, Okay, well, in
my time, I'll come around to it.
Speaker 2 (05:22):
I'll do it on my own terms. I'm not going
to listen to my husband, but I will listen to Victoria.
That's good. That's good.
Speaker 3 (05:27):
I like her.
Speaker 2 (05:28):
You can keep that up.
Speaker 4 (05:29):
I felt quite equipped when I came to the chat
because I said to him and I remember this so clearly.
It was his Christmas holidays and I was like, I'm
not doing it any sooner. We have this week allotted
and I will come prepared. And then we sat down
and then.
Speaker 2 (05:40):
Ah, so sweet. Yeah, yeah, I am obsessed with that.
So obviously you are now a full time artist, which
is so beautiful.
Speaker 4 (05:49):
Thank you.
Speaker 2 (05:49):
I want to know tell me the pervy stuff though.
What money are you earning from being a full time
artist and can you tell us a little bit more
about what that role entails, because obviously being an artist
is super broad. Yeah.
Speaker 4 (06:01):
Yeah, So I'm an artist in the way that I'm
a painter. So I create original artworks, I do prints.
I sell the licensing to some of my artworks.
Speaker 2 (06:11):
Oh my gosh, what you sell licensing? That's big dog energy.
Speaker 4 (06:14):
Thank you, thank you. I've mentored artists in the past,
I've run workshops and things like that, so it's super diverse,
which is something that I love. I'm also in the
process of getting an ADHD diagnosis, so I think that
has explains why I have, like, I love wearing so
many hats in my business.
Speaker 2 (06:32):
Yeah, I feel like and it's all really novel and exciting.
But in saying that if you're in the process of
getting an ADHD diagnosis as a business own, you'll also
probably be aware that there are some parts of your
business so you're like, per, I'm not going to work
on that at all. That's not engaging, that's not exciting.
Absolutely not. Is that something you resonate with?
Speaker 4 (06:52):
Oh, it does. But fortunately I love being involved with
my finances and it seems to be a good focus.
Like I love my graphs, I love my spreadsheets, I
love my color coding. So that seems to me a
part that it's benefited.
Speaker 2 (07:05):
Oh my gosh, how good, because I feel like I've
gotten to the point where I love helping you with
your finances talk about mine. Oh no, thank you, that's okay,
no worries, no worries. My accountant can do that, and
he can just tell me if I need to give
him more money for tax or not. That's just I
need to be better at it, because I'm definitely at
this point in time and do as I say, not
as I do. Kind of money gal, like, I'll give
(07:27):
you all the tips, but I'd prefer to talk about
your business.
Speaker 4 (07:29):
Oh yes, I've just circled back. I realized I didn't
act to answer your questions. So the nitty gritty. So
this year, I'm looking at a turnover of about one
hundred thousand dollars.
Speaker 2 (07:38):
Oh my gosh, yes, queen.
Speaker 4 (07:40):
Yeah, which is really exciting. But then I've also registered
for GST, which hurts, yes, and then obviously saving for
tax and expenses. I pay myself anywhere, so I draw
a wage, which is really exciting, and I pay SUPER.
So I pay myself anywhere from about eight hundred to
nine hundred dollars a week and about anywhere between, say
(08:01):
fifty to eighty dollars a week in SUPER.
Speaker 2 (08:04):
Oh how good. I'm so glad that, as a young
artist you're prioritizing that it is so important.
Speaker 4 (08:10):
Yeah, so you can definitely understand the pull as to
why people don't want to pay their SUPER because it's
not that sexy.
Speaker 2 (08:17):
Let's be honest. Out of sight, out of mind a
lot of the time.
Speaker 4 (08:21):
Yeah, yep. So every Friday, I have my little SUPER
contribution that comes out of my account, my little salary
that comes out of my account to pay myself. And
then yeah, I spend about two and a half thousand
dollars a month on expenses and materials and subscriptions, you know,
all that kind of stuff.
Speaker 2 (08:37):
Hey, that's not too bad. And I think as a
business owner, fellow business owner, I really struggle when I
don't know what my expenses are. Like I could tell
you right now exactly what my payroll costs, what my
super costs, what my tax is looking like in all
of that. And I know that I'm saying that I've
got my head in the sand. I absolutely do. I'm
in the very privileged position where I now can just
pay an accountant to give me a monthly summary of
(08:59):
like where it's at, like feel in control without having
to do all of the time that I used to.
But it's actually not that common for business owners to go, yeah,
it's about two and a half grand of operating expenses
per month. Like I feel like so many of us
just fly by the seat of our pants and have
no idea what that's going to cost, or no idea
what that actually looks like because they haven't spent the
time to sit down and quantify it, which is so important.
(09:22):
Please do it.
Speaker 4 (09:23):
I have a bit of a running joke that everything
goes through zero.
Speaker 2 (09:27):
I just love zero.
Speaker 4 (09:28):
Oh zero is so good. My account is very happy
about that. But I also have Excel as well, where
I like I double check zero, and I also can
have the pretty color coordinated you know, graphs and things
like that I really like. Like to me, it's really
satisfying watching particularly my income. I like tracking, you know,
like what percentage of my income is coming from prince,
(09:49):
what percentage is coming from artworks, And I find it
really helps me guide my business.
Speaker 1 (09:55):
Yeah.
Speaker 2 (09:55):
No, I love that, and I feel like it's all
about the tools that can help us. For some people,
they'd be like, that's double dipping. I don't like that,
But for you, obviously that's what's going to keep you
engaged and empowered in feeling like you're on top of things.
I'm exactly the same, Like I love a good spreadsheet,
and I don't care how many times my accountants tell
me that you can just generate a similar report on zero.
Speaker 4 (10:18):
It's not same.
Speaker 2 (10:18):
It's not same, it's not same. I would like to
build it myself, and then I want to cross check
it and feel like I've actually gone through every single
line item, because an output sometimes just for me, isn't enough.
I want to feel like I've built that myself, and
I know that I'm in complete control. But that's the
I guess, the inner treasurer in me.
Speaker 4 (10:38):
Yeah, and I can really relate, Like I like analyzing
and seeing where my cash flow is going and how
I'm spending my money, and I do find it really empowering,
which I think is something that's changed and that you know,
looking back, definitely was not on me, Like, was not
what I was doing a few years ago.
Speaker 2 (10:52):
Yeah, totally.
Speaker 1 (10:54):
All right.
Speaker 2 (10:54):
You obviously had this chat with your husband because you
wanted to buy your first home. I want to know
right now what your big money goal is, like what
are you working towards in business and in your personal life.
Speaker 4 (11:06):
Yeah, so the personal one be to buy a house.
So we'd love to have forty to fifty thousand dollars
towards our first home, and we're sitting in about twenty
three twenty four thousand dollars, which is.
Speaker 2 (11:17):
Exciting tracking well, thank you.
Speaker 4 (11:20):
And my biggest goal in my business'd be to have
my own gallery slash studio slash shop shopfront, which is
just yeah, we can come all things in my art basically.
Speaker 2 (11:34):
How beautiful would that be. I know it's going to happen,
it's just when it's going to happen. What kind of
planning you're doing to get to achieving that goal.
Speaker 4 (11:43):
That's a really funny question because I think I'm going
to have to set up maybe another bank account, so
to preface, so personally, we have a bank account for everything.
So we have like a bank account for our dog,
our petrol, our personal medical, our groceries.
Speaker 2 (11:58):
Like you're the Jessica RICKI right, I'm on it. She
does the same thing I could never.
Speaker 4 (12:03):
So I reckon what I will do. And what I've
actually done is I've set up a high interest savings account,
which next financial year I'm going to start popping some
money into that. I kind of forget that it's there,
but I know that it's growing money towards that big goal.
Speaker 2 (12:17):
How good. I love this and I feel like it's
going to happen soon. How much are you contributing on
average to your home savings? And I guess what's the
split between your contributions versus your husband's contributions.
Speaker 4 (12:29):
So I guess it's like a little bit of the
bucket analogy that we put it all into one account,
then it splits out. So at the moment he is
putting in eight hundred and fifty a week and I'm
putting in eight hundred and of that, we are putting
three hundred and fifty five dollars towards our savings a week.
Speaker 2 (12:46):
Oh how good is that?
Speaker 4 (12:48):
Yeah, it's really satisfying to watch it grow.
Speaker 2 (12:50):
How are you managing that? I feel like that's a lot.
Speaker 4 (12:53):
Yeah. We are really on top of analyzing our spending.
So like, for example, he just got to pay increase
two weeks ago, so that extra hundred dollars that he
was putting in, we really sat down and we were like, okay,
where can it go? You know, our dog vet bills
like she's getting older, so we put away like seventy
dollars a week for her, which we joke is rent,
(13:14):
like we're paying to rent her.
Speaker 2 (13:16):
Yeah yeah, fair fair, And we don't.
Speaker 4 (13:19):
Have as much fun money as we would like.
Speaker 2 (13:21):
Everybody would like a little bit more fun money. But
it sounds like you're really knuckling down to get these
goals happening. And that makes me so proud and so excited.
How long do you think it'll be before you're able
to start looking at purchasing your first home next year? Exciting?
And you know what it sounds like I'm just going
to take a stab in the dark. You mentioned zero,
(13:42):
you mentioned how good you are at bookkeeping. I don't
think it's going to be an issue at all as
a business owner to actually get finance for that, because
the biggest sticking point for small business owners who want
to get loans is that they don't have good bookkeeping
and they're not keeping track of their finances and they
can't show, you know, year on year profit. And if
you can't do that, well, the bank's not going to
(14:02):
lend to you. But it sounds like you're not in
that position at all. My friend, Oh, thank you, And
it's really nice.
Speaker 4 (14:06):
Like we met with a mortgage broker a couple of
weeks ago just to kind of see where we were at.
And my mom's actually a book keeper, which is the
hilarious part of all this, and she looked at my
books and she's like your mother's daughter.
Speaker 2 (14:16):
Ah, You're like, yes, but don't tell mum because I'm
taking the credit. Don't give it to her. Don't give
her the credit. Pretty much, All right, let's go to
a really quick break on the flip side. I want
to talk about debt's investment and what your best and
worst money habits are, guys, don't go anywhere. All right,
(14:37):
money diarist, we are back. I am so excited to
be talking to you. Before we get into the structured questions, though,
I want to know you were an occupational therapist but
didn't enjoy it, and now you are a full time artist.
What was that trigger point to go, you know what,
I'm just going to go all in on this. I'm
going to start doing art as my full time job.
(14:59):
I feel like for so many people that's just a
pipe dream, like they might be working in a different
area and going, Oh, I'm so passionate about this, but
I don't know if doing paintings is gonna you know,
pay the rent. How does that work for you?
Speaker 1 (15:12):
Like?
Speaker 2 (15:12):
Where was the turning point of you know what, I'm
going boots and all in, I can do this.
Speaker 4 (15:16):
So I never actually graduated that degree, So that is
probably one of the biggest points in that I knew
that if I had finished my degree, I would have
followed through with it and I probably would have practiced
in it. And I think it was the decision to
opt out and not finish the degree and kind of
give myself that breathing space to be like, Okay, so
(15:37):
I knew that wasn't for me. Kind of what now
and that's yeah, And that's kind of how I fell
back into it. Like I just started painting. I was
just working in my casual, part time job that I had,
and then I just started painting. And then I was like,
all right, well, it was never the intention to get
back into this, but then it just kind of started happening.
People started buying, and I thought, well, I haven't really
(15:57):
got anything to lose. I'm covering my bill of living.
What if I try and make this work?
Speaker 2 (16:04):
How did you start selling your art? I have so
many friends who are beautiful artists, and I feel like
I'm jumping down their throats all the time, being like,
charge more for your art, charge more for your time.
You are worth this, and they just don't seem to
see it. How have you known? How do I guess
charge your worth and know what to do? Because let's
(16:25):
be honest, if you're creative, that doesn't usually lean into
being really good at the business side of things. And
that's not me saying that that's a bad thing. It's
just as a creative human being, like you don't really
lean into that type of role very easily, and it's
not something that you find really sexy. You seem to
be a unicorn though. You're obsessed with zero and with painting,
(16:46):
which I adore, but a lot of us who are
a bit more creative, we're just not that good at it.
How did you structure this so that it could become
a successful business, I think.
Speaker 4 (16:57):
Because I enjoy the business side of it as well.
And I think that's something like I put so much
time into my social media and I consider it a
part of the job. It is not an afterthought. It
is how I communicate my art to people. It is
how I connect to my customers, and that's how I
engage with them. And I think that can be the
real downfall that people are just like and you know,
(17:18):
they say to me, oh, I just so got on
social media, and I'm like, yeah, but guys, it's for me.
This is part of my role.
Speaker 2 (17:24):
Yeah yeah, I couldn't agree more. Like that's how you're
going to connect with your community. That's gonna be, I guess,
the ticket to getting into people's homes and into people's hearts.
And I think that we get that a lot too.
Ache's on the money. People will say, oh, you guys
are so good at it. I'm like, yeah, Jess does
that full time as a job. And I did so
many hours of that before Jess started to make sure
(17:45):
that it was building properly. It was never an afterthought.
It was always something where I went, all, right, what's
the strategy, what's going on, how's this going to work?
What types of content are we posting? How often are
we posting that, How present are we going to be
on our stories? What's appropriate to be on our stories
versus what's not. And I think that through trial and error,
you learn what your community likes and then you overlay
(18:06):
that over the top of the strategy. But I think
a lot of people just assume it's about waking up
in the morning every morning, I'm just thinking of something
good to post, and that's not it is it?
Speaker 4 (18:16):
It's not? And I think like Instagram is such a
beautiful thing, and I think that has changed recently that
suddenly collectors have an immediate way to connect with the artists.
Where is it used to be going through galleries or
going through stockers, Whereas it's a really beautiful thing now
that people can actually speak with directly with the artist,
which I think is.
Speaker 2 (18:34):
Really, really actually one of my favorite things. I follow
a lot of artists online, and there are a few
artists that I follow because I'm obsessed with them, but
I can't afford a piece of their work yet, and
I think that that is, you know, even one of
the best ways to support them, by showing them that
not only Okay, I might not be in a position
(18:54):
to purchase your artist yet, but I'm going to like
your content, follow your content, and give you the engagement
so that hopefully you find more people like me who
might be ready to buy, and at some point they
kind of like goal pieces, Like I feel like art
for me is something that I buy to really recognize
a certain part of my life or an achievement that
I have gone through. It's not really a frivolous purchase,
(19:16):
but that's why interacting with the artist as you go
it makes it even more special. Like it's as though
I get to follow your journey and see where you've
been up to before I make that purchase, and it
can be so special, so I can see exactly why
that would work so well for you. But also, I
guess just change the dynamic because you're right. It used
to just be artists going into galleries, and then it
(19:39):
would only be people who were interested in taking the
time to go to a gallery. Now I'm watching the
batchie and I'm also checking out what my favorite artist
is doing, and I get the best of both worlds,
you know.
Speaker 4 (19:50):
Yeah, and you know what the artist wins because they're
not losing you know, anywhere between thirty to fifty percent
commission exactly.
Speaker 2 (19:57):
It's genius. I love it all right. I want to
talk about money again, which I don't think you're going
to be mad about. I want to know do you
have any investments. If so, what are they.
Speaker 4 (20:06):
We have an investment portfolio that's sitting at one thousand dollars.
Speaker 2 (20:10):
How cool? How did you decide to start investing on
the platform you chose?
Speaker 4 (20:15):
So we're currently investing with Vanguard. So my husband is
more of the cautious type, so he felt very secure
and that was kind of he kind of pictured it as,
you know, like a safe kind of investment. And to
be fair, it's not something that I have looked totally into,
whereas I think for me a little bit, my blinkers
(20:36):
are on investing in my business. But investment portfolios. That's
where we're currently sitting at.
Speaker 2 (20:40):
Yeah, that's very cool when it comes to being conservative.
I can see why maybe Vanguard was a choice that
you made. It's one of the biggest investment houses in Australia,
very well known internationally. They do, you know, from my understanding,
very good investment portfolios. But what led you to that decision?
What research did you guys do before or was this
something that your husband just said, all right, well I'm
(21:02):
going to put the money in a Vanguard and you're like, yep, cool,
focused on the business, have fun, honey.
Speaker 4 (21:07):
A little bit of Columbine, a little bit of columbe.
I had done, you know, very little research. I had
heard the word Vanguard thrown around and that kind of thing,
and I said, yeah, look that's fine. I said, I
would rather just us start investing in something and then
I will have a look later. Like I've said to him,
you know, I do want to start, you know, maybe
having slightly risk your investments. I said, I would like
(21:28):
something with a higher return. And it's funny, he goes, yeah,
He's like sure, it's like, do your research, pitch it
to me, and he's like, of course, we can do it,
And I was like, yeah, that's fair.
Speaker 2 (21:35):
I love that. I feel like they're the sexiest conversations
between married couples, like what are we going to invest
in next? Yes?
Speaker 4 (21:41):
Get it?
Speaker 2 (21:42):
Love it? Yeah, I want to know. Now, obviously you're
saving for your first home, but do you have any debts?
If so, what are they?
Speaker 4 (21:49):
Yeah? So the only debt that I have at the
moment is my hex stet.
Speaker 2 (21:54):
And what is that sitting at And how do you
feel about it? Given that? How do you feel about
the indexation going up in June?
Speaker 4 (22:01):
Oh, it's painful. It's it is the one reminder of
the degree that I didn't finish, and it's just growing.
It's yeah, it's frustrating.
Speaker 2 (22:10):
I mean, it got you to where you are today
and taught you exactly what you wanted to know. So
it's not the biggest waste of money. So you've just
got hex and that is it.
Speaker 4 (22:19):
Yeah, yep. So like we own our cars, I've got
no debt for my business. And that's something that I'm
really conscious of because I know that there are so
many things that I could go out and buy tomorrow
that would be wonderful for my business, that would put
me into debt, and I just at this point in time,
I just can't justify the mental load that would come
with that.
Speaker 2 (22:39):
Yeah, that's absolutely fair. I feel like you over the
last few years. I mean we've only spent nearly half
an hour together, but I already know this is going
to be true. You've changed your money mindset and probably
adopted a lot of good money habits. I feel like
everything about your financial journey has changed. But I want
to know what do you think is your best money habit.
Speaker 4 (23:00):
I think my best money habit would be consciously staying
on how our money is being split up, So like
checking if our bills have changed, so like we've just
moved recently and we have solar now, so like our
power bill went down, so we were like, okay, we
don't have to put as much away for bills. How
can we use that? My husband just changed phone company,
(23:20):
so his power, like his phone bill is less. Like,
I think that would be our best money habit. And
staying within our means, so like we have a set
budget per week for our groceries, and we're really conscious
to be like, this is how much money we have
this week. We will work within that.
Speaker 2 (23:34):
Yeah, how cool. I don't want to bring the mood down,
but I also want to know your worst money habit,
my friend, what is it?
Speaker 4 (23:42):
Coffees, brunch and buying paint that I probably did not need?
Speaker 2 (23:47):
The first two completely resonate with We're going to be
best friends. Can't say I've ever bought paint I'm not
going to need, but can say I've invested in a
lot of audio gear that I definitely didn't need. Was
it shiny?
Speaker 4 (24:00):
Yes?
Speaker 2 (24:00):
Do I think that I would look cool with that
set of headphones on? Absolutely, We're going to need them.
Speaker 4 (24:06):
It's funny because I will buy the same paint twice
and will have clearly had the same thought process, Like
I'll be at the shops like, oh, French blue, that
sounds great, and then I'll come home and be like,
clearly had that thought last week.
Speaker 2 (24:17):
I thought this before. I mean, I'm not a doctor.
I can't diagnose you. But that's very adhd of you,
my friend.
Speaker 4 (24:24):
Yeah, I'm very like I'm in the process of the
diagnosis of this look, and it's pretty much like I'm
ninety five percent there. I'm waiting for the final tick.
Speaker 2 (24:32):
It's actually very funny. On the weekend, I went shopping
with one of my girlfriends and I saw this pair
of pajamas that I was like, Oh, I love these.
They're like a navy pair of long sleeve pajamas. And
I was trying to convince myself. I was like, you
know what, I do need new long sleeve pajamas because
obviously winter's coming. Genius. And then I said to her, no,
I'm going to put twenty four hours between this. I'll
(24:53):
come back and get them if I really want them, Like,
it's not too far. I need to be better at this.
She was staying at my house for the weekend because
it was over the Easter Long weekend, and I came
out that night to grab a glass of wine after
my shower in a pair of long sleeve, maybe blue pajamas,
and she said, Victoria, I thought you didn't buy those.
And I'm like, oh, no, these are my old ones
I forgot I had, and she said they're identical to
(25:15):
the ones you were trying to buy today, and I said, yep,
that's exactly why I need to put twenty four hours
between me and my spending, so that I can remind
myself you already have that at home, babe.
Speaker 4 (25:24):
Yeap. Oh so so relatable.
Speaker 2 (25:27):
Like it's like I'm a goldfish. I'm like, oh, blue pajamas,
that's wild. I would like though, that's new, that's new,
that's shiny.
Speaker 4 (25:37):
I've literally done that with like two or three colors
that I looked at last week. I was like, oh,
I'm going to try that. Yeah, had that thought two
weeks ago. But anyway, Glass not just me.
Speaker 2 (25:45):
Oh no, you need a better system. You need a
better filing system. I find that taking photos of everything
and keeping it in my album so that I can
look back on it and go into my phone. You
could even have like a little album called paint Colors
and you can flip through check if you've got it,
so that you don't double up and buy again, because
I'm the worst at that as well. The amount of
(26:06):
white dresses I have is obscene.
Speaker 4 (26:09):
But I bet they're all stunning.
Speaker 2 (26:11):
Yeah, but they're all the same. They're all the same,
all stunning, but all the same. All Right, Now that
we've had a chat, I feel like you are such
a vibe. I am loving this. I love that you
have your own business. I love that you're so passionate
and vibrant about it. I love that you are saving
up to buy your first home, You're investing, you're saving.
(26:31):
Oh my gosh, I'm so excited with the fact that
you're a business owner paying yourself super like that's queen behavior.
But you said you're a B. So I want to
know two things. Firstly, do you still think after our
chat that you're just a B? And what would it
take for someone like you to get to an A.
Speaker 4 (26:48):
Look, I just think cut back on the unnecessary branches,
and I think your tips are actually just checking what
I need to buy and rolling with that. And I
think it would like upgrade me to an A.
Speaker 2 (26:57):
Yeah, okay, so like a few small steps and actually
make a really big impact. I think that's not bad.
Oh my gosh, money Darist. This has been such a
fun episode to record and so fun like I feel
like knowing where you've come from and where you're going
our shared lovers spreadsheets like this is going to be
a fun episode for everyone to listen to. Thank you
so much for spending time with us. I'm so grateful.
Speaker 4 (27:19):
Oh no worries. Thank you for having me. And I
really hope that my story resonates with other people and
people that feel overwhelmed by spreadsheets and that can just
listen to this and see that there is light on
the other side.
Speaker 2 (27:33):
What would be your number one tip? Obviously you can't
just decide, Okay, I'm going to be good at spreadsheets today.
Where would you recommend people start if they're feeling overwhelmed
and not ready to have budget and cash flow conversations?
Speaker 4 (27:48):
Set a date, Set a date, and like have someone
hold you accountable and then kind of do whatever you
need to feel ready to have that chat.
Speaker 2 (27:56):
I love that.
Speaker 4 (27:57):
Like, whether if it's you know, listen to some Shees
on the Money episode, whether it's buying a book, whether
it's sitting down and having looking through your bank accounts,
like you do what you need to do in that
time to prepare yourself to get really hands on with it.
Speaker 2 (28:10):
Oh how good? I love that. That is perfect advice
to end this episode on. Thank you so much for
your time. It has been an absolute pleasure.
Speaker 4 (28:18):
Oh no, Wrris, thanks for having me, and yeah, thank you.
Speaker 2 (28:27):
The advice shared on She's on the Money is general
in nature and does not consider your individual circumstances. She's
on the Money exists purely for educational purposes and should
not be relied upon to make an investment or financial decision.
If you do choose to buy a financial product.
Speaker 3 (28:43):
Read the PDS TMD and obtain appropriate financial advice.
Speaker 2 (28:47):
Tailored towards your needs.
Speaker 3 (28:48):
Victoria Divine and She's on the Money are authorized representatives
of Money Shop Pty Ltd. ABN three two one is
six four nine two seven seven zero eight af SEL
four five one two eight nine
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