July 26, 2026 • 42 mins
Growing up, home never really felt permanent. Her mum battled addiction, money was always tight, and by the time she was a teenager she'd already experienced more instability than most people do in a lifetime. When her mum passed away unexpectedly, there was no inheritance waiting for her. Just grief, unanswered questions and a decision to create a different future for herself.
Today, she's 32, works as a nurse, owns two properties, has just $40,000 left on the mortgage for her home, and is already planning the next investment. But what I loved most about this conversation wasn't the numbers.
It was the mindset.
We chat about growing up between two completely different worlds, learning that your childhood doesn't have to define your future, the power of financial independence, and why she's determined to build the kind of security she never had growing up.
This episode is a reminder that your starting point doesn't have to be your finish line. Sometimes breaking the cycle starts with one decision, one conversation, and believing that your future can look completely different to your past.Acknowledgement of Country By Nartarsha Bamblett (nartarshabamblett.com.au)
The advice shared on She's On The Money is general in nature and does not consider your individual circumstances. She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs. Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708, AFSL - 4451289
See omnystudio.com/listener for privacy information.
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Speaker 1 (00:00):
My name is Satasha Bamblet. I'm a proud First Nations
woman and I'm here to acknowledge country te glennyan Ganya,
Niana Kaka yah y and Binahaka nian Arka In, Nimbini,
yakarum Jar Doumayagumika Umaga, Ihowaka, nilewaman damind Imlan Bumba, bang
gadaboma in and now in Waka Ghana and yak rum
Jar Watanadana. Hello, beautiful friends, we gather on the lands
(00:24):
of the Aboriginal people. We thank acknowledge and respect the
Abiginal people's land that we're gathering on today. Take pleasure
in all the land and respect all that you see.
She's on the Money podcast acknowledges culture, country, community and connections,
bringing you the tools, knowledge and resources for you to thrive.
Speaker 2 (00:50):
Hello, and welcome to She's on the Money, the podcast
that lets you be pervy about other people's money habits
for educational purposes, of course. Welcome back to another one
of our Money Diaries episodes brought to you by our
friends at sky Weals, where I get the absolute privilege
of sitting down with one of our She's on the
Money community members and asking them all about their journey.
(01:11):
Let's jump straight into it, because this week I got
a message and it sounded exactly like this Hi V
and Team. After a year of consideration and peer pressure
from my friends and family, I've finally decided to nominate
myself for a Money Diaries episode. I grew up in
Department of Communities housing with my mum, who was challenged
(01:31):
with some serious addiction issues. After school, I qualified as
a nurse and lived paycheck to paycheck. Ten years ago,
my mom passed away suddenly and unexpectedly. Struggling emotionally and financially,
I soon became an addicted listener of the podcast. I've
literally taken every piece of advice, from personal insurance to superannuation.
(01:52):
Fast forward to now, I'm thirty two. I own two properties,
forty thousand oweing on my owner occupied proper and an
investment property. I hope to hear from you soon, Money Diarist.
You are definitely hearing from me soon. The second that
I hit my inbox, I could not wait to learn more.
Welcome to the show.
Speaker 3 (02:11):
Thank you so much for having me.
Speaker 2 (02:13):
I am so excited to learn a little bit more
about you and your journey. It feels like it's going
to be like a bit of a roller coaster, Like
I feel like I've just got to like buckle in.
Speaker 3 (02:22):
This is going to be a journey.
Speaker 2 (02:23):
Yeah, all right, well let's go on it together. Before
I ask you my favorite question, I'm going to ask
you what grade would you give your money habits from
A three to F If I asked you to give
them a grade, I.
Speaker 3 (02:33):
Think it'd be everyone can improve somewhere.
Speaker 2 (02:36):
All right, let's learn more about that. But I can
already tell like your body language, your energy, like your story,
like it's giving boss, Like I just know she's got
her shit together. So money darist, tell me a little
bit more about your money story and the things that
have impacted it.
Speaker 3 (02:51):
So I'd say, like most people, my money story was
impacted a lot by my parents. My mom, as you've
just read, she was in department of Community Housing, she
didn't have a car, she didn't have a job, she
lived fortnite to fortnite on Centralink payments. So I grew
up observing that and then contrastingly watching my dad, who
(03:15):
has many properties, has a nice portfolio, works as a builder,
owns his own company. I had two very different lenses
of what life could look like. Then when she passed away.
I think most people expect that when a parent passes
(03:36):
that you're going to come into some inheritance, and that
wasn't the case. And it really again shifted my perspective
and changed my attitude a lot towards money and life
and like our purpose I guess. So, yeah, in my instance,
there wasn't any inheritance. There was actually a lot of
debt accrued, which was obviously fortunately white due to her death.
(04:02):
But yeah, that impacted my story a lot, losing mom.
Speaker 2 (04:07):
So tell me a little bit more about growing up
with that contrast view of money, because obviously you'd like
go to one parent's house and have one experience and
another parent having another experience. At what point did you realize, oh,
these things are different, like because I think that when
you're really little, you just go mum's house. Dad's house.
Does house has something shiny? Mum's house doesn't have that,
(04:27):
But you kind of can't comprehend why or when. At
what point did you realize that maybe one of the
biggest differences was money.
Speaker 3 (04:34):
I think I was eight, my dad had got custody
of me, soul custody of me, So I was spending
less time at Mum's house. So Mum's house wasn't normalized anymore.
It was now there's a shared custody agreement. So I
was spending majority of time with my dad and realizing, like,
(04:55):
we don't have to wait till the end of the
fortnight to get that or or there's no timeframe essentially,
like there's just always this like free flowing cash coming
in like that, Like it's he's not concerned about money, likes,
it's just it's not a thing he's not checking like
the atm in those days, you know, going into the
(05:16):
bank and checking your balance before we're making any transactions
or anything. It was just he wasn't concerned by it
at all, whereas Mom like really just she struggled today sometimes,
like we just weren't eating for the second part of
the fortnight because she couldn't afford it. And I think, yeah,
realizing that I would have been about eight years old
(05:37):
when I made that move to Dad's.
Speaker 2 (05:39):
Yeah, and did you understand why those decisions were being
made by your mom? Like could you understand you know
why I shared custody agreement existed because I think For
some kids, they're like, I don't get it. For other kids,
you're like, yes, I feel much safer it my dad's
or you know, there might be so many underlying things
going on. Was this something you could comprehend at that age.
Speaker 3 (05:58):
Yeah, Sadly, as a child, I really did understand. Unfortunately,
my mom she did struggle with some substance youth issues
and she was incarcerated for a period of my childhood,
which I think you forced the courts to make that decision.
Speaker 2 (06:13):
Yeah.
Speaker 3 (06:14):
I was very much aware of what was happening, mostly
because I wasn't in attendance for court. But my dad
felt it was his responsibility to still maintain some contact
with my mom.
Speaker 2 (06:26):
It's my mom, No, what an iconic guy.
Speaker 3 (06:29):
Yeah. So there were a few occasions where I did
visit the prison and I did visit mom, and I
think I would have been perhaps ten at that point,
and it was It's deeply embedded in my brain. I
can't forget it. I can't unfeel it, unsee it.
Speaker 2 (06:47):
No, And I'm really sorry you in that way had
to grow up so quickly, because that's just not something
that I think any of us would wish for an
eight or a ten year old to be able to comprehend,
like I would love for you the jail to just
be a tile on a monopoly game, but unfortunately that's
not the case. How has that changed the way that
(07:08):
you view life? Because like, walking in there, you would
have been honestly overwhelmed or consumed, not really understanding a lot.
But as you get older, you start to comprehend more.
And I feel like that might have brought out a
lot of different emotions, not just oh my mom's there,
I'm sad that I'm missing her. It's now maybe a
little bit of resentment, a little bit of, you know,
being really frustrated about the situation. Like how did that
(07:31):
transpire as you got to your teenage years?
Speaker 3 (07:34):
I think by teenage years, I became more like her.
I made poor decisions. I wasn't the best version of myself,
I think because I missed her so much and I
wasn't having that sort of closeness to her anymore. My
behavior trend was sort of more towards her, to be honest,
(07:55):
Like I was just realious, getting suspended from school, not
doing homework, not really like paying attention, just not future
focused at all, Like I just I didn't care if
mum wasn't there, Mom wasn't looking after me, nothing else
really mat it. I just as a child in hindsight
now looking back, I was just in a quite a
self destruction mode because I had no I thought at
(08:18):
the time, I have no structure, I have no support, Like,
where's my Mum's not doing her job looking after me?
She's she's away.
Speaker 2 (08:26):
In my mind, she was away, Yeah, and I mean
she was. She wasn't present, and she wasn't present due
to the decisions that she made. So to you if
she was on holiday or if she was, you know, incarcerated,
to a younger child, like the same experience, like, ultimately,
mum's choosing not to be here through the decisions that
she's made, and that's really really rough. So at what
(08:48):
point did you realize, oh, this isn't for me, Like
did your mum get out while you were still under eighteen?
Speaker 3 (08:55):
Yes, so she was only incarcerated for just overy gear
I think it was thirteen months, but it felt like
a lifetime, to be honest, And then when she did
get out, she kind of went through periods of being
clean and being not and we were able to maintain
a relationship, and it was predominantly through her mom, so
(09:15):
my nana that we were able to maintain that closeness.
Speaker 2 (09:18):
Oh, tell me about your nana. I feel like this
is something that maybe you would have created a really
strong bond between the two of you, because like that's
traumatic for both of you.
Speaker 3 (09:28):
It did, Yeah, it really did our closeness, I think
because the weekends, will say, when my mom typically would
have custody and she wasn't able to, my nana would
just scoop me up and look after me. She had
a big role in raising me on Like we are
super close even now to this day, like we're very close.
(09:50):
We've maintained that.
Speaker 2 (09:51):
I could see your body language change when you mentioned
your nana. You like dimmed and I was like, Oh,
she loves her nana. I can see she's a nana's girl.
That's so so sweet.
Speaker 1 (10:00):
That's yeah.
Speaker 2 (10:03):
I was like, girl, if you want to start lying,
it's not going to fly. You are so transparent in
the nicest of ways. So you hit eighteen, you are
technically free in a way. And I feel like a
lot of us, especially when we're teenagers, we have this
thing in our head. We're like when I'm aden, I'm
going to be able to do whatever I want. Tell
me what that looked like.
Speaker 3 (10:24):
So I think turning eighteen was a great time in
my life, but also just so tragically shitty. Actually, in hindsight,
I just thought, the second a turn eighteen, it's just
going to turn off all of these emotions that I
have that are connected to my mum, and I would
(10:44):
just like flourish out of this cocoon and be this
like butterfly, And it just wasn't the case.
Speaker 2 (10:49):
That's so optimistic, though. I love that we all seem
to have this idea that you know, when this certain
date hits, all of a sudden, all my trauma is
going to be disregard. Yeah, I was like, I'll be
a new woman.
Speaker 3 (11:02):
Everything will be fine. I'll be a teen. I had
moved out prior to being eighteen, and I was in
rental in South Perth. I was thinking at the time, like,
everything's going to be fine, Everything's just going to fall
into place, and it just didn't know. It turned out
it needed a lot more determination and a lot more
hard work and a lot more persistency, to be honest.
Speaker 2 (11:24):
So it sounds like like in I don't know how
to say this. You turned out well? Is that a
good thing to say? I feel like it is because
you're like, I'm a nurse and you know I was
living patrick to paycheck and like, I already know enough
about your money story to know that you've knuckled down
and gotten some really cool stuff done. But how did
you go from having that childhood where you you know,
obviously it was really rough and really heavy and you
(11:47):
were acting out in your teenage years, which often so
many people are saying like, these are your formative years.
If you mess the ease years up, like you're going
to end up, you know, amounting to nothing. And I'm
not saying that as a personal opinion. There's just a
lot of I guess stereo types out there, and also
a lot of people who have parents who have substance
abuse is shoes. They often are expected to follow in
(12:08):
their parents' footsteps. Has that been something that has been
really hard to deal with? Or like, how have you
dealt with that? Because I think that the general public
and even friends and family maybe have an extra eye
on you because they're like, oh, we don't want her
going down the same path.
Speaker 3 (12:24):
I one hundred percent agree with that, and I think
my family could see all of those behaviors in me
that mimicked my mom as a teenager. So when I
got to eighteen, I remember my dad's asking me what.
Speaker 2 (12:35):
Do you want to do?
Speaker 3 (12:37):
Like, what are you going to do with yourself? And
I just looked at him and I was like, I
just shrugged my shoulder and I said, I don't know.
I genuinely don't know. What do you think I should do?
And he said, you're really like caring and compassionate and
like you've just got this like kindness to you, So
you should go be anurse. I think you should go
be a nurse.
Speaker 2 (12:55):
I'll pay for it.
Speaker 3 (12:55):
I'll get you into tape. You can do your diploma
there because then you can travel with it. You can
do whatever you want and nurse stowids and demand. So
go for it.
Speaker 2 (13:04):
And I did stop it. He sounds fantastic, Yeah, true story.
Speaker 3 (13:09):
He paid for it, He got me in and I
got my diploma, started working, and yeah, that was how
my nursing career was born. Twelve years ago.
Speaker 2 (13:20):
I'm obsessed. So you start working as a nurse, what
was that like?
Speaker 3 (13:23):
Initially it was quite hard because in the nursing world.
If you don't get a graduate program, if you're not
lucky enough to be appointed one of the very few
graduate programs, it can be a little bit tough. So
I did a rural gig for a little while with
nursing as an enrolled nurse, and then ended up getting
perth based work, which was good.
Speaker 2 (13:44):
Obsessed, you were working as a nurse and living paycheck
to paycheck? Why when? Where? How?
Speaker 3 (13:50):
I renked by myself as an eighteen year old, nineteen
year old, and even twenty year old. I just didn't
care at that point. It was just and just doing
the best with the knowledge that I had at the time. Basically, Yeah,
I remember there would be many occasions where I just
didn't have any skills at all with money that I
(14:10):
would literally go to Nana, go to Dad, any other
family member, Hey can you feel up my car with fuel?
Hey can you pay this registration bill? Can you da
da da da da. Everyone would try to have these
financial conversations with me about budgeting and structure. I was
not interested because on my dad's side of the family,
I knew that if I put my hand out and
(14:31):
asked for support, they would just help me.
Speaker 2 (14:34):
Yeah, I feel like you've grown out of that. How
Like what's the turning point? Because like being in that
situation and being surrounded by people who quite clearly love you.
I'm not saying that they should be paying for these things,
but they're probably just going, you know what, like she's
staying out of trouble, Like, let's just keep her in
the best possible position.
Speaker 3 (14:52):
You know.
Speaker 2 (14:53):
I don't know how well off they were, whether you know,
paying for your fuel was something that was super easy
and it didn't even worry them, or was something that
they're like, I mean, we preferred to Like what was
the turning point? Like why did you decide that money
was something to care about? Because it would have been
so easy to continue coasting, not really caring and just
live love, laughing.
Speaker 3 (15:14):
You know. Yeah, I wish I could say that it
was some huge, big pivotal moment that was groundbreaking, but honestly,
it was one simple conversation that I had with a friend.
Her name's Tash.
Speaker 2 (15:27):
What's up, Tash?
Speaker 3 (15:28):
We love you, Tash eild. I think you'd know how
she's in the financial space.
Speaker 2 (15:33):
Well, I do know her gorge. I was like, all right,
we'll double down on that. She introduced me to the podcast,
and she was like, that woman just has her shit together.
Speaker 3 (15:43):
Though, yeah, she's just delete. But I met her, i'd
say twenty eighteen, twenty nineteen, and she was g owning
really good money, you're saving really well, let's like take
it up a notch, like you could do it better.
And I had a little bit of savings, I had
a little bit of financial literacy I had. I had
the drive to do it. I just had the skill
(16:05):
to do it at this point. And I remember I
became really close friends with Tash really quickly, and I
was just this sponge on her with all of this
advice and all of this knowledge, and she was just
so clever, and I was just mesmerized by everything that
she was saying and everything she was doing and just
just honestly so inspired. So that was the beginning of
(16:28):
my financial literacy journey. I love that. It was awesome.
I remember just every conversation we had, it'll all circle
back to finance, and I learned.
Speaker 2 (16:40):
To just like love it.
Speaker 3 (16:41):
Whereas we'll say, historically, the conversations that I'd have with
my family and they try to sit me down at
the table and be like, should really talk about budgeting,
which whatever, I didn't care about that. When Tash was
talking about it, it was cool. I was listening.
Speaker 2 (16:55):
Good, Yeah, but isn't it crazy? And I went through
a very similar thing where my dad had been saying forever,
like I got my first job this second I was
allowed to work like fourteen years and nine months, and
I remember I worked in an ice cream shop. That
was my first job. And my dad sat me down
and was like, all right, you need to care about
this because like you don't have any rent, you don't
(17:17):
have any bills, like you can save all of this,
but you don't have to. But what I would do
is save five percent. Like I remember my dad being like,
just save five percent and pretend it doesn't exist. And
then every job you get after this, you're very likely
going to earn more money, so we're always going to
pretend you earn five percent less and then in that situation,
you'll always be saving. And I was like, that sounds terrible.
(17:39):
Let's not do that. And so like I never took
his advice, and you know, I went into psychology and
I didn't have any intention of working in finance, and
then all of a sudden, finance became important to me
and I'd go home and I was like, oh my god, Dad,
I'm saving and he's like, I've been telling you to
do this for years, and I literally would turn around
and be like, no, you haven't. Nah nah. He's like
literally other people, well, they're telling you things that you
(18:01):
should do that I've told you, and I'd be like,
nah nah, not the same. But it literally only resonates
when one it's somebody that we respect and fear, and
not that you don't respect your family, you know what
I mean, someone that we just kind of like have
a level of aspiration towards, but also at a time
when you're kind of open to hearing it. So like,
had you met Tash and you weren't open and ready
(18:23):
for change or wanted to be better or do better
in your life, you would have kind of been like,
she just talks about money, and I think that's all
she's obsessed with. I'm not vibing that. Like it could
have gone two ways, right, but instead you were like,
I'm ready for that. This is the change I've been
looking for. And often we just don't know what we're
looking for until we find it, and like we need
(18:44):
to hear the same story or the same instructions so
many times before we go hmm, maybe that is for me.
So I'm just I'm so glad you found your way in.
I want to get into the nitty gritty though, because, like,
there is so much more to this story. Like, girl,
you own or not one, but two properties? What do
you do for work today? And how much money do
(19:04):
you earn?
Speaker 3 (19:04):
I am a registered nurse and my base pay is
one hundred and six K and this financial year I
have made one hundred and eighteen.
Speaker 2 (19:14):
Stop it. That is so good and tell me what
is your big money goal? What are you currently working towards?
Because like, I feel like you're achieving a lot already.
Speaker 3 (19:23):
Thank you. My big money goal, as you know, I
already have two properties.
Speaker 2 (19:28):
Crazy crazy.
Speaker 3 (19:31):
My big money goal is to have a third, fourth, fifth,
and probably a tenth property. My dad has a big.
Speaker 2 (19:38):
Property property mogul. That is the plan.
Speaker 3 (19:44):
Yeah, that's my big money goal.
Speaker 2 (19:45):
I'm obsessed. So tell me about your dad's big property portfolio.
You don't have to tell me too much, but is
that something that he built from scratch as well? Because
that something that you've gotten inspiration from or were you like, no,
I just had to learn a lot of those things
on my own, Like what does that look like?
Speaker 3 (20:00):
Yeah, I think with my dad's side of the family,
they will say in their wealth creation that's definitely will
say the bread and butter of it. Yeah. Cool, And yeah,
my grandparents have done the same. My aunties and uncles
have all done the same, And I think that that's
just something I'd like to sort of follow in suit with.
Speaker 2 (20:16):
That's crazy knowing more about your story and just like
the contrast between the way you grow up with your
mum and then the way that you've grown up with
your dad, Like would you say that your dad's side
of the family would be viewed as kind of wealthy
or just like doing well? Like what would that kind
of look like?
Speaker 3 (20:34):
Wealthy? I'd say yeah. I mean I want to say
conservatively to them, like no, they're just well off. But
then I'm like, no, I want to empower how well
everyone has done on Dad's side one hundred percent they
are wealthy and leave their jobs for twelve months and
travel Australia, which many of my aunties and uncles and
(20:55):
their children have been fortunate enough to do. I'm going
to call that wealthy.
Speaker 2 (20:58):
Yeah, that's real rich. Like I think that there's this
idea in our heads sometimes when we talk about, you know,
being wealthy, we go, oh, that means you're a billionaire
or all like, but no, it's when you have a
level of financial freedom to afford you choice. And that,
to me, that's wealthy, as like, that is so cool, money, darrist,
(21:19):
I want to go to a really quick break or
I don't want to go to a really quick break.
I have so many questions, but right after this we'll
dive straight into them. All right, money diist, we are back,
and I want to talk to you about investing to
begin apart from your investment property. Do you invest? If so,
(21:39):
what in? If not, why not?
Speaker 3 (21:40):
I do not currently invest outside of my investment property,
although I am meeting with my financial advisor at the
end of the month which is quickly approaching, to set
that up.
Speaker 2 (21:51):
Oh that is so exciting. Also, how are you like
besties with Tash but don't invest? Like that's crazy to me.
Speaker 3 (21:59):
Well, we're definitely not besties. We were just friends back
in the day.
Speaker 2 (22:02):
But oh yeah, yeah, you know what I mean.
Speaker 3 (22:05):
But yes, because I know that she is definitely the
investing queen. But I think my focus has definitely been
more property than shares, to be honest. But it is
on the to do list and it will be done
by the end of the month.
Speaker 2 (22:18):
I'm obsessed, all right. Tell me a bit more about
this investment property, because that's really impressive. So we're actually
going to like jump to the next question and then
come back a little bit to talk about it. So
tell me about your debt situation. You have two properties.
One you're an owner occupier and that can I assume
was your first house you purchased.
Speaker 3 (22:39):
Yes, that's correct.
Speaker 2 (22:40):
Tell me how, when, where? Why?
Speaker 3 (22:42):
So it's quite a unique situation actually, So I was
actually renting this apartment from the Department of Communities. I
got to a stage where I was earning too much
to still occupy the property, and during COVID they approached
me and would you like to vacate the property or
(23:02):
would you like to purchase the property?
Speaker 2 (23:04):
Oh my god, I didn't even know that was ever
an option. I didn't know that was a thing. And
I had been saving at that point.
Speaker 3 (23:12):
Tashad got me onto a really good saving scheme and
I had a deposit ready to go, and I settled
a month later in COVID, so I purchased the property.
Speaker 4 (23:20):
Stop it.
Speaker 3 (23:22):
So I purchased the property in February of twenty twenty
two for two hundred and seventy with a forty two
thousand dollars deposit.
Speaker 2 (23:31):
So tell me more about this. I'm just like writing
down notes frantically, so I don't forget my numbers. But
tell me more about how that works. They came to
you and they said, look vacate babe, or you know what,
you could just buy it from us. Yeah, how did
they value the property? How did that transaction happen? Because
clearly it didn't go on market, Like, how did they
know that the house was worth two hundred and seventy grand?
(23:52):
Like did they just be like this is a good number.
Speaker 3 (23:55):
Like it felt like that at the time because I
was like, wait, why is it so cheap? But during
COVID everything was for a moment. But they had three
independent valuations from three separate banks come into the property. Wow,
they just as you would for like a normal valuation.
Came back to me and they said it's a fixed price,
there's no negotiation, it's two seventy. And I was like,
(24:16):
I will take it. I remember that at the time,
my family saying, don't get an apartment, like it's never
going to appreciate and value. Go buy land, like that's
what you need. Go buy a house somewhere. And in hindsight,
I'm so glad that I just bought the apartment. It
was just about getting getting in, getting into the market.
Speaker 2 (24:32):
And getting your foot in the door. And I mean,
that's a very special situation that everybody's going to find
themselves in. But it's so true, and I think that
that's a lot of the work that I'm trying to
do in the property space is just re route people's
expectations because from even our parents' age, which I don't
even think is that old, like they were able to
purchase property with land and that was reasonable, and you know,
(24:55):
two hundred and seventy thousand dollars to them seems so
much money. But to us, I'm like, whole up, where's
you buy? Because that's like next to nothing for a property.
Can I know what's that property worth? Now? I just
know it's worth so much more. And you're like, hey, dad, guess.
Speaker 3 (25:09):
What it is currently worth? Six hundred thousand, six what
I know? I know that is crazy so good.
Speaker 2 (25:19):
No, but like also incredible, and I mean it's not
going to happen for everybody, but it's so nice to
see capital gain happening inside apartments which are really I
don't know, their assets that are a little bit more
accessible and things that you can purchase. So tell me
you purchased it with a forty two thousand dollars deposit?
Did you already have that money saved? And it was
(25:40):
sitting there and it was just like good timing that
you already had it?
Speaker 3 (25:44):
Correct?
Speaker 2 (25:44):
Yeah, and then you started paying it off, you had
your first mortgage. How much have you got left to
go on that property as of this morning?
Speaker 3 (25:52):
Forty one thousand?
Speaker 2 (25:54):
Sorry what you've got forty one? Like less than fifty grand?
Like you've got forty one thousand dollars?
Speaker 3 (25:59):
Oh? Wing? Correct?
Speaker 2 (26:00):
Six hundred thousand dollars property? Yes, yeah, babe? What all right?
All right? I am so proud of you. This is
crazy and we're not even done yet. So can I
make some assumptions and assume that you might have used
some of your equity in this property to purchase your
investment property? Is that what's going on?
Speaker 3 (26:21):
Yes, Quaen, that is exactly what I did Yeah.
Speaker 2 (26:24):
Okay, iconic, And when did you decide to do that?
So you purchased in feb twenty twenty two, which was
not that long ago. And then when did you go
an investment property might be for me?
Speaker 3 (26:36):
So it was about this time last year I went
back to my broker and I was like, yeah, I
think I'm ready for the second property. Now took me
a while to find a property that I really wanted,
to be honest, and the plans that have changed, because
when I initially bought the apartment, the mental plan was
I want the apartment paid in seven years. I know
(26:56):
that I'm disciplined enough that I can have it done
in that time frame because I just kept doing the
mccorid bank calculator on how much.
Speaker 2 (27:06):
Yeah, yeah, yeah, that's a good one. That's a good
one for anyone listening along. Like, even if you don't
get like debts through mcquarie Bank, their calculators are pretty sick.
Speaker 3 (27:16):
Same, I don't even bank with McQuary, Like I shouldn't.
Speaker 2 (27:18):
See thee though. I was like, no, no, no, I
use them even my broking team, Like we obviously have
a whole heap of calculators. But if we're quickly on
the phone with somebody that's one that we just look
up online and we're like, oh, let's just do some
quick numbers. It's a good one exactly.
Speaker 3 (27:31):
And I think seeing the number of like what I
could say doing that. That was why the seven year
plan became a thing. But then as I was sort
of approaching my goals sooner than I thought, I was like,
I should just get the apartment valued. Maybe I could
buy another property and then rent the apartment move into
the next property. So I sort of went back and
(27:52):
forth and say between that for a little while and
then settled on No, I want the apartment one hundred
percent paid off. Like I'm going to remain living here
in the smaller property, and I'm going to use the
bigger loan for the investment. It's just it's going to
be a better financial decision. Plus I'm comfortable in the apartment.
Speaker 2 (28:10):
Yeah. So tell me how much did you purchase your
second property for? And what does it look like.
Speaker 3 (28:16):
I purchased my investment property for eight hundred and twenty.
Speaker 2 (28:20):
Oh my goodness, And how much deposit did you need
to take in equity?
Speaker 3 (28:25):
I did not actually pay one dollar out of pocket
for the second property, it was all equity.
Speaker 2 (28:30):
Jokes on you. I knew you were going to say that.
I just wanted you to tell everybody how cool equity
was eight hundred and twenty grand and how did you
work out the cash flow of that? Because I think
that a lot of us would be like, oh my god, like,
I'm doing really well with my two hundred and seventy
thousand dollar loon and I'm paying that off eight hundred
and twenty Like where am I going to get the
(28:51):
cash for that from? Were you really comfortable with those
cash flows? Like what did that look like?
Speaker 3 (28:57):
I was quite terrified of the numbers initially, to be honest,
only because I had been disciplined as with my extra
contributions to my current owner occupied mortgage, and I remember
saying to my broker, I'm not slowing down on those
repayments and then the extra contributions as well. It's tenanted
(29:20):
and I'm going to manage both, so it's negatively good.
But I step on an out of pocket cost on
a monthly basis to contribute to those repayments. But I'm
not slowing down on the owner occupied payments either, And
he was like, oh, that's going to be really tight
and blah blah blah. And I was like, I will
figure it out. I will make it. If your numbers
(29:40):
aren't numbering, I will cut something out, I will cut
something down, I'll revamp something. I will figure it out.
Speaker 2 (29:46):
Yeah, and tell me what type of rental yield are
you getting on that property?
Speaker 3 (29:51):
Seven hundred and ten per week?
Speaker 2 (29:54):
Okay, so that's a pretty good rental yield, Like that's
looking very very nice. Did you you know what that
would rent for before you purchased it?
Speaker 3 (30:03):
Yes, it was actually already tenanted when I purchased, oh,
which was very lucky dreaming. And I said to the
tenants and the property managers like, I'm happy to have
us keep you continuation contract and no variations like no
increase to rent or anything like that, if anything. Like
I actually offered giving them a credit to just stood
(30:24):
of staying on. We are so kind because it wouldn't
just be beneficial for me and beneficial for them too.
So I was like, let's just credit, yeah, money win,
which was grand. And I've actually just increased the rent
with a renewal of contract for next month.
Speaker 2 (30:38):
Yep, so fair. So tell me a little bit more
about this situation, because you mentioned you have a financial advisor,
and just a backtrack if you're in a situation where
you've made a decision, and this is not just our money, Doris,
this is just in general. You've got somebody who's decided,
you know what, I want to be a property mogul,
I want to buy one property and then two and
then three, and obviously money, Dost, you've had that role
(31:00):
modeled for you. You know it's possible, and I think
that's so exciting. One thing that is often really common
is that you don't pay down your primary residence, like
you don't care about that. You kind of go, nope,
I'm going to consistently use the equity in that. And
obviously you bought it for two hundred and seventy grand,
it's now worth six hundred grand. I would, and I'm
hazarding I guess. I would guess there's some more equity
(31:23):
sitting in there that you could technically use for the
next property if you really wanted to. Where does your
motivation for smashing that loan off completely come from? Because
I feel like it's probably very intertwined into your money story.
Speaker 3 (31:37):
That's a very fair assumption. I think sort of going
back to when I was younger living with Mum, living
in department of Communities housing, we were moved around a lot,
so I never really consistently lived anywhere, and prior to
moving into this apartment, I'd never actually lived anywhere I
(31:58):
think more than a year in one location. So as
soon as moving here, that was sort of the motivation
is that this is the little like safe house.
Speaker 2 (32:07):
This is going to be hot.
Speaker 3 (32:09):
No one's taking it from me if I have nothing
going on it, it's one hundred percent mine. No one's
touching it. I never have to vacate. I mean I
will one day when it's.
Speaker 2 (32:18):
My choice, but yeah, but it'll be a choice.
Speaker 3 (32:20):
Yeah. I wanted the choice. I wanted the freedom of that.
Speaker 2 (32:23):
Yeah. I was like, I reckon, you're looking for, you know,
that level of security that you didn't have, and now
you're gifting it to yourself. Have you ever reflected and
just looked back and been like, well, the woman I
am today is who baby me needed.
Speaker 3 (32:36):
One hundred percent. I feel like I say that to
myself on like a weekly basis to be honest, Like
the stability that I have now is exactly what I
needed as a child, and I'm proud of it. Actually, really,
I'm so proud of it.
Speaker 2 (32:48):
Oh, baby, you is so proud of you. She's just like, oh,
that's me, Like that's crazy, Like I'm so obsessed, and like,
you know, I know your mum's not around, and I
don't know how sickle that relationship was, but you get
to keep one with her. I just know she'd be
so proud, like knowing what she's been through. I'm assuming
one of the biggest fears she had was that you
would follow in her footsteps and you didn't, like, imagine
(33:11):
how black. I know she's not here, but like she is,
she knows, like she knows that you've done really well.
Speaker 3 (33:16):
Yeah, one hundred percent. I like to think that every
every decision that I'm making is just like part of her,
Like I'm part of her. I'm always doing my best,
not just for me, but for her. I'm her only child,
and I just feel like, you know, I'm like her
legacy or something.
Speaker 2 (33:35):
You are and you're killing it, Like, Oh, I'm so proud.
Tell me you've built up a significant property portfolio for
being so young, and obviously have a great income. Do
you have personal insurance? If not, why not?
Speaker 3 (33:49):
Yes, I do.
Speaker 2 (33:50):
I can't.
Speaker 3 (33:51):
Of course I do. I don't juste have mine Morgan.
Speaker 2 (33:53):
I was about to say, I really doubt you don't,
given yours so engrossed into the community, but like I've
got ah No, of.
Speaker 3 (34:00):
Course no, I definitely do, and I will say that
I feel like I'm this walking billboard for it with
all of my friends and family, even my work colleagues.
I am just like you about personal insurance. This is
why you should get it, and oh I've got it
through Soper.
Speaker 2 (34:15):
And I'm like that's not enough.
Speaker 3 (34:15):
You need to do this datata, Like that's just my
love language is talking to people about personal insurance.
Speaker 2 (34:21):
Well, your dad said that your love language was like
caring about people, so this makes sense. And like finance
is a way that you can create like as safety nets,
so it just makes sense. I keep saying to my husband,
I'm like, we should find a way to turn personal
insurance into some kind of multi level marketing business because
like we would have people talking about it night and day,
(34:41):
like imagine.
Speaker 3 (34:43):
One hundred percent. Now it really is. My love language
is talking about personal insurance more than anything. One hundred percent.
Speaker 2 (34:48):
I'm obsessed money doars. Tell me, what do you think
is your best money habit?
Speaker 3 (34:53):
My best money habit is that I do not worry
about money anymore the way that I used to do.
I used to really just get nervous at the end
of each fortnight waiting for pay to come in. And
now I just feel with everything automated, with so much structure.
In the last twelve months, I've been able to afford
three holidays and I'm not blinking twice over it because
(35:14):
I'm that structure. I know exactly what's coming in, exactly
what's going out, what's you Everything's just automated.
Speaker 2 (35:21):
That's crazy, and like not in a bad way, Like
that's crazy in like the best of ways. Money darist,
what do you think your worst money habit?
Speaker 4 (35:28):
Is?
Speaker 3 (35:29):
My worst money habit is laughable. But I have just
discovered Sheen. I know I'm a late bloomer, but I've
just discovered Sheen. And I'll say in the last three months,
actually probably more accurate would be in the last two months.
I've made three substantial.
Speaker 2 (35:46):
Orders on Sheen. What are we buying on Sheen? Though?
And also stop buying off Sheen You'll get canceled. You're
lucky that this part's anonymous.
Speaker 3 (35:55):
Oh thank goodness, No, mostly just clothes. To be honest,
I don't know who got me on to sh who
I have to blame for that. That's definitely my worst
money habit lately. But other than that, I think I'm
pretty good.
Speaker 2 (36:08):
I just feel like that's not the worst money habit.
That is fine. I'll let that one slip. Money Diarist.
At the start of this episode, you said, I think
I'm gonna bee because, like, everybody has stuff to learn,
and I agree. I'm the type of person that just
really loves continuous learning and like learning new things, and
I'm really like adventurous and I'm going to be adventurous
and flip this question because I think that you're going
(36:30):
to say I'm still a Bee, Like I've done really well,
but as I said, I've got stuff to learn. What
do you think, baby, you would rate you if they
were forced to give you a grade from A through death?
Speaker 3 (36:40):
Baby me would one hundred percent give me an A.
But the only reason I've given myself a BEE is
because as soon as I've ticked off the share portfolio,
that'll be my A.
Speaker 2 (36:50):
Okay, And that's a really easy A. The appointments already booked,
We're already doing it. I'm so excited, Like, my Queen,
you and I are going to have to do another
money diary at some point, because I just know you're
going to be like, hey, they let's do another money diary.
I've got five properties, and then I'll be like, okay,
call me again and you'll be like, oh, yeah, I
got ten. Like this is going to be crazy, and
just I think the thing that I love about this is, yes,
(37:13):
it wasn't the most conventional entry to property ownership, but
what you're doing, you're doing on your own and you're
on a really great salary, but you're still on a
really normal salary, Like it's not unreasonable to expect that
women who are in their early thirties can earn six figures.
Like it's your budgeting, it's your cash flow, it's your habits,
(37:34):
it's your mindset, it's all of that that's created the
life that you have today. And just I am so
freakin proud of where you've come from and where you're going,
Like are you kidding me? Like, I'm just I'm so excited,
and I'm also just so excited that I get to
share this story with my community, because there are going
to be people in this community that really resonate with going,
oh my god, like I had a semi similar upbringing,
(37:56):
or you know I had that much turmoil or you
know it felt really bad. Is this something that still
impacts you today? Like how does your upbringing still impact
the decisions that you make around money on a daily basis?
Or you like, no, I've moved on from that, or
is that still something that like she's in the back
of your mind and you can't seem to shake it, Like,
(38:17):
and I feel like it might play into things like
you wanting to pay off your first property in its
entirety and owning it outright, so that level of financial
security because like, on paper, an advice is going to
tell you that's not the best idea, but in principle
and emotionally, like you need that and that's what you know,
good financial advice takes into consideration, Right, So what other
(38:38):
things do you think at impacting you day to day
that have come from your childhood?
Speaker 3 (38:44):
I think in my mind, I don't earn one hundred
and eighteen a year. In my mind, I only own
like fifty because that's as much as I give myself.
I like to just really always prioritize my future self
in that way. And I think if I pay them
all off now, I can live mortgage free here for
a couple of years before going back into another mortgage.
(39:05):
But it does impact me, i'd say daily, in almost
every transaction, in every interaction that I have, because I'm
not just thinking about my younger self, but I'm also
thinking about my future self. I'm not sort of over
indulging in like nice dinners and things like that, not
because I don't like them or appreciate them. It's that
(39:26):
a part of me is like I value it, but
I don't value it daily.
Speaker 2 (39:32):
No, that makes absolute sense, and I wanted to touch
on that because I just think that people who are
in those situations, it's like reflecting back on something you
said at the start of this episode. You were like,
when I was eighteen, I was just going to hit
eighteen and everything would go away and I would be
different and I would be at peace with it. And
I think that it's something that you just learn to
(39:52):
live with and learn to reflect on, and you become
older and wiser, and that's great, but it's always going
to impact you. And I think that it's important to
point that out because there are so many young women
who listen to this show who might be in similar situations,
who might be, you know, baby, you at the start
of your journey when you picked up the podcast for
the first time, and they need to hear stories like
this that are like, no, I did this myself and
(40:14):
you can too. So if we, you know, leave on
one note, what would be your advice to your past
self if you were listening to this episode as the
very first.
Speaker 3 (40:25):
One, start sooner?
Speaker 2 (40:27):
I love that go back in time.
Speaker 3 (40:31):
Oh, I don't know. I feel like it almost wouldn't
have mattered. It wasn't about what was being shared. It
wasn't about the content. It was the timing. And when
you're ready for it, your body, your mind knows you're
ready for it. Like even talking with friends that I
have now that are like a year or two younger
(40:53):
than me who don't own property, like I try to
have the same conversation that Tash had with me and
seat of give them that in empowerment and excitement that
money can bring when you're in control of it, when
it's not controlling you, and the choice that it gives
you in the freedom to leave situations you want to,
whether it's relationships or jobs, whatever, until you are ready
(41:16):
for it. It actually doesn't matter, like it's got to
be from within, Like you've got to want it that
bad that you're willing to make all these changes.
Speaker 2 (41:24):
I'm obsessed, and I feel like that hits the nail
on the head Money Diresty. It has been an absolute
privilege sharing the last hour with you, having a good
chat about absolutely everything from your upbringing to property to
you know, just you hustling and killing it. I'm so
obsessed and I just I'm so glad that we got
to cross paths. So thank you for sharing your journey
with the community.
Speaker 3 (41:45):
Thank you so much.
Speaker 4 (41:51):
The advice shared on She's on the Money is generally
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.
Speaker 2 (42:03):
Investment or financial decision. If you do choose to buy
a financial product.
Speaker 4 (42:07):
Read the PDS TMD and obtain appropriate financial.
Speaker 2 (42:10):
Advice tailored towards your needs.
Speaker 4 (42:13):
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My name is Satasha Bamblet. I'm a proud First Nations
woman and I'm here to acknowledge country te glennyan Ganya,
Niana Kaka yah y and Binahaka nian Arka In, Nimbini,
yakarum Jar Doumayagumika Umaga, Ihowaka, nilewaman damind Imlan Bumba, bang
gadaboma in and now in Waka Ghana and yak rum
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(00:24):
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bringing you the tools, knowledge and resources for you to thrive.
Speaker 2 (00:50):
Hello, and welcome to She's on the Money, the podcast
that lets you be pervy about other people's money habits
for educational purposes, of course. Welcome back to another one
of our Money Diaries episodes brought to you by our
friends at sky Weals, where I get the absolute privilege
of sitting down with one of our She's on the
Money community members and asking them all about their journey.
(01:11):
Let's jump straight into it, because this week I got
a message and it sounded exactly like this Hi V
and Team. After a year of consideration and peer pressure
from my friends and family, I've finally decided to nominate
myself for a Money Diaries episode. I grew up in
Department of Communities housing with my mum, who was challenged
(01:31):
with some serious addiction issues. After school, I qualified as
a nurse and lived paycheck to paycheck. Ten years ago,
my mom passed away suddenly and unexpectedly. Struggling emotionally and financially,
I soon became an addicted listener of the podcast. I've
literally taken every piece of advice, from personal insurance to superannuation.
(01:52):
Fast forward to now, I'm thirty two. I own two properties,
forty thousand oweing on my owner occupied proper and an
investment property. I hope to hear from you soon, Money Diarist.
You are definitely hearing from me soon. The second that
I hit my inbox, I could not wait to learn more.
Welcome to the show.
Speaker 3 (02:11):
Thank you so much for having me.
Speaker 2 (02:13):
I am so excited to learn a little bit more
about you and your journey. It feels like it's going
to be like a bit of a roller coaster, Like
I feel like I've just got to like buckle in.
Speaker 3 (02:22):
This is going to be a journey.
Speaker 2 (02:23):
Yeah, all right, well let's go on it together. Before
I ask you my favorite question, I'm going to ask
you what grade would you give your money habits from
A three to F If I asked you to give
them a grade, I.
Speaker 3 (02:33):
Think it'd be everyone can improve somewhere.
Speaker 2 (02:36):
All right, let's learn more about that. But I can
already tell like your body language, your energy, like your story,
like it's giving boss, Like I just know she's got
her shit together. So money darist, tell me a little
bit more about your money story and the things that
have impacted it.
Speaker 3 (02:51):
So I'd say, like most people, my money story was
impacted a lot by my parents. My mom, as you've
just read, she was in department of Community Housing, she
didn't have a car, she didn't have a job, she
lived fortnite to fortnite on Centralink payments. So I grew
up observing that and then contrastingly watching my dad, who
(03:15):
has many properties, has a nice portfolio, works as a builder,
owns his own company. I had two very different lenses
of what life could look like. Then when she passed away.
I think most people expect that when a parent passes
(03:36):
that you're going to come into some inheritance, and that
wasn't the case. And it really again shifted my perspective
and changed my attitude a lot towards money and life
and like our purpose I guess. So, yeah, in my instance,
there wasn't any inheritance. There was actually a lot of
debt accrued, which was obviously fortunately white due to her death.
(04:02):
But yeah, that impacted my story a lot, losing mom.
Speaker 2 (04:07):
So tell me a little bit more about growing up
with that contrast view of money, because obviously you'd like
go to one parent's house and have one experience and
another parent having another experience. At what point did you realize, oh,
these things are different, like because I think that when
you're really little, you just go mum's house. Dad's house.
Does house has something shiny? Mum's house doesn't have that,
(04:27):
But you kind of can't comprehend why or when. At
what point did you realize that maybe one of the
biggest differences was money.
Speaker 3 (04:34):
I think I was eight, my dad had got custody
of me, soul custody of me, So I was spending
less time at Mum's house. So Mum's house wasn't normalized anymore.
It was now there's a shared custody agreement. So I
was spending majority of time with my dad and realizing, like,
(04:55):
we don't have to wait till the end of the
fortnight to get that or or there's no timeframe essentially,
like there's just always this like free flowing cash coming
in like that, Like it's he's not concerned about money, likes,
it's just it's not a thing he's not checking like
the atm in those days, you know, going into the
(05:16):
bank and checking your balance before we're making any transactions
or anything. It was just he wasn't concerned by it
at all, whereas Mom like really just she struggled today sometimes,
like we just weren't eating for the second part of
the fortnight because she couldn't afford it. And I think, yeah,
realizing that I would have been about eight years old
(05:37):
when I made that move to Dad's.
Speaker 2 (05:39):
Yeah, and did you understand why those decisions were being
made by your mom? Like could you understand you know
why I shared custody agreement existed because I think For
some kids, they're like, I don't get it. For other kids,
you're like, yes, I feel much safer it my dad's
or you know, there might be so many underlying things
going on. Was this something you could comprehend at that age.
Speaker 3 (05:58):
Yeah, Sadly, as a child, I really did understand. Unfortunately,
my mom she did struggle with some substance youth issues
and she was incarcerated for a period of my childhood,
which I think you forced the courts to make that decision.
Speaker 2 (06:13):
Yeah.
Speaker 3 (06:14):
I was very much aware of what was happening, mostly
because I wasn't in attendance for court. But my dad
felt it was his responsibility to still maintain some contact
with my mom.
Speaker 2 (06:26):
It's my mom, No, what an iconic guy.
Speaker 3 (06:29):
Yeah. So there were a few occasions where I did
visit the prison and I did visit mom, and I
think I would have been perhaps ten at that point,
and it was It's deeply embedded in my brain. I
can't forget it. I can't unfeel it, unsee it.
Speaker 2 (06:47):
No, And I'm really sorry you in that way had
to grow up so quickly, because that's just not something
that I think any of us would wish for an
eight or a ten year old to be able to comprehend,
like I would love for you the jail to just
be a tile on a monopoly game, but unfortunately that's
not the case. How has that changed the way that
(07:08):
you view life? Because like, walking in there, you would
have been honestly overwhelmed or consumed, not really understanding a lot.
But as you get older, you start to comprehend more.
And I feel like that might have brought out a
lot of different emotions, not just oh my mom's there,
I'm sad that I'm missing her. It's now maybe a
little bit of resentment, a little bit of, you know,
being really frustrated about the situation. Like how did that
(07:31):
transpire as you got to your teenage years?
Speaker 3 (07:34):
I think by teenage years, I became more like her.
I made poor decisions. I wasn't the best version of myself,
I think because I missed her so much and I
wasn't having that sort of closeness to her anymore. My
behavior trend was sort of more towards her, to be honest,
(07:55):
Like I was just realious, getting suspended from school, not
doing homework, not really like paying attention, just not future
focused at all, Like I just I didn't care if
mum wasn't there, Mom wasn't looking after me, nothing else
really mat it. I just as a child in hindsight
now looking back, I was just in a quite a
self destruction mode because I had no I thought at
(08:18):
the time, I have no structure, I have no support, Like,
where's my Mum's not doing her job looking after me?
She's she's away.
Speaker 2 (08:26):
In my mind, she was away, Yeah, and I mean
she was. She wasn't present, and she wasn't present due
to the decisions that she made. So to you if
she was on holiday or if she was, you know, incarcerated,
to a younger child, like the same experience, like, ultimately,
mum's choosing not to be here through the decisions that
she's made, and that's really really rough. So at what
(08:48):
point did you realize, oh, this isn't for me, Like
did your mum get out while you were still under eighteen?
Speaker 3 (08:55):
Yes, so she was only incarcerated for just overy gear
I think it was thirteen months, but it felt like
a lifetime, to be honest, And then when she did
get out, she kind of went through periods of being
clean and being not and we were able to maintain
a relationship, and it was predominantly through her mom, so
(09:15):
my nana that we were able to maintain that closeness.
Speaker 2 (09:18):
Oh, tell me about your nana. I feel like this
is something that maybe you would have created a really
strong bond between the two of you, because like that's
traumatic for both of you.
Speaker 3 (09:28):
It did, Yeah, it really did our closeness, I think
because the weekends, will say, when my mom typically would
have custody and she wasn't able to, my nana would
just scoop me up and look after me. She had
a big role in raising me on Like we are
super close even now to this day, like we're very close.
(09:50):
We've maintained that.
Speaker 2 (09:51):
I could see your body language change when you mentioned
your nana. You like dimmed and I was like, Oh,
she loves her nana. I can see she's a nana's girl.
That's so so sweet.
Speaker 1 (10:00):
That's yeah.
Speaker 2 (10:03):
I was like, girl, if you want to start lying,
it's not going to fly. You are so transparent in
the nicest of ways. So you hit eighteen, you are
technically free in a way. And I feel like a
lot of us, especially when we're teenagers, we have this
thing in our head. We're like when I'm aden, I'm
going to be able to do whatever I want. Tell
me what that looked like.
Speaker 3 (10:24):
So I think turning eighteen was a great time in
my life, but also just so tragically shitty. Actually, in hindsight,
I just thought, the second a turn eighteen, it's just
going to turn off all of these emotions that I
have that are connected to my mum, and I would
(10:44):
just like flourish out of this cocoon and be this
like butterfly, And it just wasn't the case.
Speaker 2 (10:49):
That's so optimistic, though. I love that we all seem
to have this idea that you know, when this certain
date hits, all of a sudden, all my trauma is
going to be disregard. Yeah, I was like, I'll be
a new woman.
Speaker 3 (11:02):
Everything will be fine. I'll be a teen. I had
moved out prior to being eighteen, and I was in
rental in South Perth. I was thinking at the time, like,
everything's going to be fine, Everything's just going to fall
into place, and it just didn't know. It turned out
it needed a lot more determination and a lot more
hard work and a lot more persistency, to be honest.
Speaker 2 (11:24):
So it sounds like like in I don't know how
to say this. You turned out well? Is that a
good thing to say? I feel like it is because
you're like, I'm a nurse and you know I was
living patrick to paycheck and like, I already know enough
about your money story to know that you've knuckled down
and gotten some really cool stuff done. But how did
you go from having that childhood where you you know,
obviously it was really rough and really heavy and you
(11:47):
were acting out in your teenage years, which often so
many people are saying like, these are your formative years.
If you mess the ease years up, like you're going
to end up, you know, amounting to nothing. And I'm
not saying that as a personal opinion. There's just a
lot of I guess stereo types out there, and also
a lot of people who have parents who have substance
abuse is shoes. They often are expected to follow in
(12:08):
their parents' footsteps. Has that been something that has been
really hard to deal with? Or like, how have you
dealt with that? Because I think that the general public
and even friends and family maybe have an extra eye
on you because they're like, oh, we don't want her
going down the same path.
Speaker 3 (12:24):
I one hundred percent agree with that, and I think
my family could see all of those behaviors in me
that mimicked my mom as a teenager. So when I
got to eighteen, I remember my dad's asking me what.
Speaker 2 (12:35):
Do you want to do?
Speaker 3 (12:37):
Like, what are you going to do with yourself? And
I just looked at him and I was like, I
just shrugged my shoulder and I said, I don't know.
I genuinely don't know. What do you think I should do?
And he said, you're really like caring and compassionate and
like you've just got this like kindness to you, So
you should go be anurse. I think you should go
be a nurse.
Speaker 2 (12:55):
I'll pay for it.
Speaker 3 (12:55):
I'll get you into tape. You can do your diploma
there because then you can travel with it. You can
do whatever you want and nurse stowids and demand. So
go for it.
Speaker 2 (13:04):
And I did stop it. He sounds fantastic, Yeah, true story.
Speaker 3 (13:09):
He paid for it, He got me in and I
got my diploma, started working, and yeah, that was how
my nursing career was born. Twelve years ago.
Speaker 2 (13:20):
I'm obsessed. So you start working as a nurse, what
was that like?
Speaker 3 (13:23):
Initially it was quite hard because in the nursing world.
If you don't get a graduate program, if you're not
lucky enough to be appointed one of the very few
graduate programs, it can be a little bit tough. So
I did a rural gig for a little while with
nursing as an enrolled nurse, and then ended up getting
perth based work, which was good.
Speaker 2 (13:44):
Obsessed, you were working as a nurse and living paycheck
to paycheck? Why when? Where? How?
Speaker 3 (13:50):
I renked by myself as an eighteen year old, nineteen
year old, and even twenty year old. I just didn't
care at that point. It was just and just doing
the best with the knowledge that I had at the time. Basically, Yeah,
I remember there would be many occasions where I just
didn't have any skills at all with money that I
(14:10):
would literally go to Nana, go to Dad, any other
family member, Hey can you feel up my car with fuel?
Hey can you pay this registration bill? Can you da
da da da da. Everyone would try to have these
financial conversations with me about budgeting and structure. I was
not interested because on my dad's side of the family,
I knew that if I put my hand out and
(14:31):
asked for support, they would just help me.
Speaker 2 (14:34):
Yeah, I feel like you've grown out of that. How
Like what's the turning point? Because like being in that
situation and being surrounded by people who quite clearly love you.
I'm not saying that they should be paying for these things,
but they're probably just going, you know what, like she's
staying out of trouble, Like, let's just keep her in
the best possible position.
Speaker 3 (14:52):
You know.
Speaker 2 (14:53):
I don't know how well off they were, whether you know,
paying for your fuel was something that was super easy
and it didn't even worry them, or was something that
they're like, I mean, we preferred to Like what was
the turning point? Like why did you decide that money
was something to care about? Because it would have been
so easy to continue coasting, not really caring and just
live love, laughing.
Speaker 3 (15:14):
You know. Yeah, I wish I could say that it
was some huge, big pivotal moment that was groundbreaking, but honestly,
it was one simple conversation that I had with a friend.
Her name's Tash.
Speaker 2 (15:27):
What's up, Tash?
Speaker 3 (15:28):
We love you, Tash eild. I think you'd know how
she's in the financial space.
Speaker 2 (15:33):
Well, I do know her gorge. I was like, all right,
we'll double down on that. She introduced me to the podcast,
and she was like, that woman just has her shit together.
Speaker 3 (15:43):
Though, yeah, she's just delete. But I met her, i'd
say twenty eighteen, twenty nineteen, and she was g owning
really good money, you're saving really well, let's like take
it up a notch, like you could do it better.
And I had a little bit of savings, I had
a little bit of financial literacy I had. I had
the drive to do it. I just had the skill
(16:05):
to do it at this point. And I remember I
became really close friends with Tash really quickly, and I
was just this sponge on her with all of this
advice and all of this knowledge, and she was just
so clever, and I was just mesmerized by everything that
she was saying and everything she was doing and just
just honestly so inspired. So that was the beginning of
(16:28):
my financial literacy journey. I love that. It was awesome.
I remember just every conversation we had, it'll all circle
back to finance, and I learned.
Speaker 2 (16:40):
To just like love it.
Speaker 3 (16:41):
Whereas we'll say, historically, the conversations that I'd have with
my family and they try to sit me down at
the table and be like, should really talk about budgeting,
which whatever, I didn't care about that. When Tash was
talking about it, it was cool. I was listening.
Speaker 2 (16:55):
Good, Yeah, but isn't it crazy? And I went through
a very similar thing where my dad had been saying forever,
like I got my first job this second I was
allowed to work like fourteen years and nine months, and
I remember I worked in an ice cream shop. That
was my first job. And my dad sat me down
and was like, all right, you need to care about
this because like you don't have any rent, you don't
(17:17):
have any bills, like you can save all of this,
but you don't have to. But what I would do
is save five percent. Like I remember my dad being like,
just save five percent and pretend it doesn't exist. And
then every job you get after this, you're very likely
going to earn more money, so we're always going to
pretend you earn five percent less and then in that situation,
you'll always be saving. And I was like, that sounds terrible.
(17:39):
Let's not do that. And so like I never took
his advice, and you know, I went into psychology and
I didn't have any intention of working in finance, and
then all of a sudden, finance became important to me
and I'd go home and I was like, oh my god, Dad,
I'm saving and he's like, I've been telling you to
do this for years, and I literally would turn around
and be like, no, you haven't. Nah nah. He's like
literally other people, well, they're telling you things that you
(18:01):
should do that I've told you, and I'd be like,
nah nah, not the same. But it literally only resonates
when one it's somebody that we respect and fear, and
not that you don't respect your family, you know what
I mean, someone that we just kind of like have
a level of aspiration towards, but also at a time
when you're kind of open to hearing it. So like,
had you met Tash and you weren't open and ready
(18:23):
for change or wanted to be better or do better
in your life, you would have kind of been like,
she just talks about money, and I think that's all
she's obsessed with. I'm not vibing that. Like it could
have gone two ways, right, but instead you were like,
I'm ready for that. This is the change I've been
looking for. And often we just don't know what we're
looking for until we find it, and like we need
(18:44):
to hear the same story or the same instructions so
many times before we go hmm, maybe that is for me.
So I'm just I'm so glad you found your way in.
I want to get into the nitty gritty though, because, like,
there is so much more to this story. Like, girl,
you own or not one, but two properties? What do
you do for work today? And how much money do
(19:04):
you earn?
Speaker 3 (19:04):
I am a registered nurse and my base pay is
one hundred and six K and this financial year I
have made one hundred and eighteen.
Speaker 2 (19:14):
Stop it. That is so good and tell me what
is your big money goal? What are you currently working towards?
Because like, I feel like you're achieving a lot already.
Speaker 3 (19:23):
Thank you. My big money goal, as you know, I
already have two properties.
Speaker 2 (19:28):
Crazy crazy.
Speaker 3 (19:31):
My big money goal is to have a third, fourth, fifth,
and probably a tenth property. My dad has a big.
Speaker 2 (19:38):
Property property mogul. That is the plan.
Speaker 3 (19:44):
Yeah, that's my big money goal.
Speaker 2 (19:45):
I'm obsessed. So tell me about your dad's big property portfolio.
You don't have to tell me too much, but is
that something that he built from scratch as well? Because
that something that you've gotten inspiration from or were you like, no,
I just had to learn a lot of those things
on my own, Like what does that look like?
Speaker 3 (20:00):
Yeah, I think with my dad's side of the family,
they will say in their wealth creation that's definitely will
say the bread and butter of it. Yeah. Cool, And yeah,
my grandparents have done the same. My aunties and uncles
have all done the same, And I think that that's
just something I'd like to sort of follow in suit with.
Speaker 2 (20:16):
That's crazy knowing more about your story and just like
the contrast between the way you grow up with your
mum and then the way that you've grown up with
your dad, Like would you say that your dad's side
of the family would be viewed as kind of wealthy
or just like doing well? Like what would that kind
of look like?
Speaker 3 (20:34):
Wealthy? I'd say yeah. I mean I want to say
conservatively to them, like no, they're just well off. But
then I'm like, no, I want to empower how well
everyone has done on Dad's side one hundred percent they
are wealthy and leave their jobs for twelve months and
travel Australia, which many of my aunties and uncles and
(20:55):
their children have been fortunate enough to do. I'm going
to call that wealthy.
Speaker 2 (20:58):
Yeah, that's real rich. Like I think that there's this
idea in our heads sometimes when we talk about, you know,
being wealthy, we go, oh, that means you're a billionaire
or all like, but no, it's when you have a
level of financial freedom to afford you choice. And that,
to me, that's wealthy, as like, that is so cool, money, darrist,
(21:19):
I want to go to a really quick break or
I don't want to go to a really quick break.
I have so many questions, but right after this we'll
dive straight into them. All right, money diist, we are back,
and I want to talk to you about investing to
begin apart from your investment property. Do you invest? If so,
(21:39):
what in? If not, why not?
Speaker 3 (21:40):
I do not currently invest outside of my investment property,
although I am meeting with my financial advisor at the
end of the month which is quickly approaching, to set
that up.
Speaker 2 (21:51):
Oh that is so exciting. Also, how are you like
besties with Tash but don't invest? Like that's crazy to me.
Speaker 3 (21:59):
Well, we're definitely not besties. We were just friends back
in the day.
Speaker 2 (22:02):
But oh yeah, yeah, you know what I mean.
Speaker 3 (22:05):
But yes, because I know that she is definitely the
investing queen. But I think my focus has definitely been
more property than shares, to be honest. But it is
on the to do list and it will be done
by the end of the month.
Speaker 2 (22:18):
I'm obsessed, all right. Tell me a bit more about
this investment property, because that's really impressive. So we're actually
going to like jump to the next question and then
come back a little bit to talk about it. So
tell me about your debt situation. You have two properties.
One you're an owner occupier and that can I assume
was your first house you purchased.
Speaker 3 (22:39):
Yes, that's correct.
Speaker 2 (22:40):
Tell me how, when, where? Why?
Speaker 3 (22:42):
So it's quite a unique situation actually, So I was
actually renting this apartment from the Department of Communities. I
got to a stage where I was earning too much
to still occupy the property, and during COVID they approached
me and would you like to vacate the property or
(23:02):
would you like to purchase the property?
Speaker 2 (23:04):
Oh my god, I didn't even know that was ever
an option. I didn't know that was a thing. And
I had been saving at that point.
Speaker 3 (23:12):
Tashad got me onto a really good saving scheme and
I had a deposit ready to go, and I settled
a month later in COVID, so I purchased the property.
Speaker 4 (23:20):
Stop it.
Speaker 3 (23:22):
So I purchased the property in February of twenty twenty
two for two hundred and seventy with a forty two
thousand dollars deposit.
Speaker 2 (23:31):
So tell me more about this. I'm just like writing
down notes frantically, so I don't forget my numbers. But
tell me more about how that works. They came to
you and they said, look vacate babe, or you know what,
you could just buy it from us. Yeah, how did
they value the property? How did that transaction happen? Because
clearly it didn't go on market, Like, how did they
know that the house was worth two hundred and seventy grand?
(23:52):
Like did they just be like this is a good number.
Speaker 3 (23:55):
Like it felt like that at the time because I
was like, wait, why is it so cheap? But during
COVID everything was for a moment. But they had three
independent valuations from three separate banks come into the property. Wow,
they just as you would for like a normal valuation.
Came back to me and they said it's a fixed price,
there's no negotiation, it's two seventy. And I was like,
(24:16):
I will take it. I remember that at the time,
my family saying, don't get an apartment, like it's never
going to appreciate and value. Go buy land, like that's
what you need. Go buy a house somewhere. And in hindsight,
I'm so glad that I just bought the apartment. It
was just about getting getting in, getting into the market.
Speaker 2 (24:32):
And getting your foot in the door. And I mean,
that's a very special situation that everybody's going to find
themselves in. But it's so true, and I think that
that's a lot of the work that I'm trying to
do in the property space is just re route people's
expectations because from even our parents' age, which I don't
even think is that old, like they were able to
purchase property with land and that was reasonable, and you know,
(24:55):
two hundred and seventy thousand dollars to them seems so
much money. But to us, I'm like, whole up, where's
you buy? Because that's like next to nothing for a property.
Can I know what's that property worth? Now? I just
know it's worth so much more. And you're like, hey, dad, guess.
Speaker 3 (25:09):
What it is currently worth? Six hundred thousand, six what
I know? I know that is crazy so good.
Speaker 2 (25:19):
No, but like also incredible, and I mean it's not
going to happen for everybody, but it's so nice to
see capital gain happening inside apartments which are really I
don't know, their assets that are a little bit more
accessible and things that you can purchase. So tell me
you purchased it with a forty two thousand dollars deposit?
Did you already have that money saved? And it was
(25:40):
sitting there and it was just like good timing that
you already had it?
Speaker 3 (25:44):
Correct?
Speaker 2 (25:44):
Yeah, and then you started paying it off, you had
your first mortgage. How much have you got left to
go on that property as of this morning?
Speaker 3 (25:52):
Forty one thousand?
Speaker 2 (25:54):
Sorry what you've got forty one? Like less than fifty grand?
Like you've got forty one thousand dollars?
Speaker 3 (25:59):
Oh? Wing? Correct?
Speaker 2 (26:00):
Six hundred thousand dollars property? Yes, yeah, babe? What all right?
All right? I am so proud of you. This is
crazy and we're not even done yet. So can I
make some assumptions and assume that you might have used
some of your equity in this property to purchase your
investment property? Is that what's going on?
Speaker 3 (26:21):
Yes, Quaen, that is exactly what I did Yeah.
Speaker 2 (26:24):
Okay, iconic, And when did you decide to do that?
So you purchased in feb twenty twenty two, which was
not that long ago. And then when did you go
an investment property might be for me?
Speaker 3 (26:36):
So it was about this time last year I went
back to my broker and I was like, yeah, I
think I'm ready for the second property. Now took me
a while to find a property that I really wanted,
to be honest, and the plans that have changed, because
when I initially bought the apartment, the mental plan was
I want the apartment paid in seven years. I know
(26:56):
that I'm disciplined enough that I can have it done
in that time frame because I just kept doing the
mccorid bank calculator on how much.
Speaker 2 (27:06):
Yeah, yeah, yeah, that's a good one. That's a good
one for anyone listening along. Like, even if you don't
get like debts through mcquarie Bank, their calculators are pretty sick.
Speaker 3 (27:16):
Same, I don't even bank with McQuary, Like I shouldn't.
Speaker 2 (27:18):
See thee though. I was like, no, no, no, I
use them even my broking team, Like we obviously have
a whole heap of calculators. But if we're quickly on
the phone with somebody that's one that we just look
up online and we're like, oh, let's just do some
quick numbers. It's a good one exactly.
Speaker 3 (27:31):
And I think seeing the number of like what I
could say doing that. That was why the seven year
plan became a thing. But then as I was sort
of approaching my goals sooner than I thought, I was like,
I should just get the apartment valued. Maybe I could
buy another property and then rent the apartment move into
the next property. So I sort of went back and
(27:52):
forth and say between that for a little while and
then settled on No, I want the apartment one hundred
percent paid off. Like I'm going to remain living here
in the smaller property, and I'm going to use the
bigger loan for the investment. It's just it's going to
be a better financial decision. Plus I'm comfortable in the apartment.
Speaker 2 (28:10):
Yeah. So tell me how much did you purchase your
second property for? And what does it look like.
Speaker 3 (28:16):
I purchased my investment property for eight hundred and twenty.
Speaker 2 (28:20):
Oh my goodness, And how much deposit did you need
to take in equity?
Speaker 3 (28:25):
I did not actually pay one dollar out of pocket
for the second property, it was all equity.
Speaker 2 (28:30):
Jokes on you. I knew you were going to say that.
I just wanted you to tell everybody how cool equity
was eight hundred and twenty grand and how did you
work out the cash flow of that? Because I think
that a lot of us would be like, oh my god, like,
I'm doing really well with my two hundred and seventy
thousand dollar loon and I'm paying that off eight hundred
and twenty Like where am I going to get the
(28:51):
cash for that from? Were you really comfortable with those
cash flows? Like what did that look like?
Speaker 3 (28:57):
I was quite terrified of the numbers initially, to be honest,
only because I had been disciplined as with my extra
contributions to my current owner occupied mortgage, and I remember
saying to my broker, I'm not slowing down on those
repayments and then the extra contributions as well. It's tenanted
(29:20):
and I'm going to manage both, so it's negatively good.
But I step on an out of pocket cost on
a monthly basis to contribute to those repayments. But I'm
not slowing down on the owner occupied payments either, And
he was like, oh, that's going to be really tight
and blah blah blah. And I was like, I will
figure it out. I will make it. If your numbers
(29:40):
aren't numbering, I will cut something out, I will cut
something down, I'll revamp something. I will figure it out.
Speaker 2 (29:46):
Yeah, and tell me what type of rental yield are
you getting on that property?
Speaker 3 (29:51):
Seven hundred and ten per week?
Speaker 2 (29:54):
Okay, so that's a pretty good rental yield, Like that's
looking very very nice. Did you you know what that
would rent for before you purchased it?
Speaker 3 (30:03):
Yes, it was actually already tenanted when I purchased, oh,
which was very lucky dreaming. And I said to the
tenants and the property managers like, I'm happy to have
us keep you continuation contract and no variations like no
increase to rent or anything like that, if anything. Like
I actually offered giving them a credit to just stood
(30:24):
of staying on. We are so kind because it wouldn't
just be beneficial for me and beneficial for them too.
So I was like, let's just credit, yeah, money win,
which was grand. And I've actually just increased the rent
with a renewal of contract for next month.
Speaker 2 (30:38):
Yep, so fair. So tell me a little bit more
about this situation, because you mentioned you have a financial advisor,
and just a backtrack if you're in a situation where
you've made a decision, and this is not just our money, Doris,
this is just in general. You've got somebody who's decided,
you know what, I want to be a property mogul,
I want to buy one property and then two and
then three, and obviously money, Dost, you've had that role
(31:00):
modeled for you. You know it's possible, and I think
that's so exciting. One thing that is often really common
is that you don't pay down your primary residence, like
you don't care about that. You kind of go, nope,
I'm going to consistently use the equity in that. And
obviously you bought it for two hundred and seventy grand,
it's now worth six hundred grand. I would, and I'm
hazarding I guess. I would guess there's some more equity
(31:23):
sitting in there that you could technically use for the
next property if you really wanted to. Where does your
motivation for smashing that loan off completely come from? Because
I feel like it's probably very intertwined into your money story.
Speaker 3 (31:37):
That's a very fair assumption. I think sort of going
back to when I was younger living with Mum, living
in department of Communities housing, we were moved around a lot,
so I never really consistently lived anywhere, and prior to
moving into this apartment, I'd never actually lived anywhere I
(31:58):
think more than a year in one location. So as
soon as moving here, that was sort of the motivation
is that this is the little like safe house.
Speaker 2 (32:07):
This is going to be hot.
Speaker 3 (32:09):
No one's taking it from me if I have nothing
going on it, it's one hundred percent mine. No one's
touching it. I never have to vacate. I mean I
will one day when it's.
Speaker 2 (32:18):
My choice, but yeah, but it'll be a choice.
Speaker 3 (32:20):
Yeah. I wanted the choice. I wanted the freedom of that.
Speaker 2 (32:23):
Yeah. I was like, I reckon, you're looking for, you know,
that level of security that you didn't have, and now
you're gifting it to yourself. Have you ever reflected and
just looked back and been like, well, the woman I
am today is who baby me needed.
Speaker 3 (32:36):
One hundred percent. I feel like I say that to
myself on like a weekly basis to be honest, Like
the stability that I have now is exactly what I
needed as a child, and I'm proud of it. Actually, really,
I'm so proud of it.
Speaker 2 (32:48):
Oh, baby, you is so proud of you. She's just like, oh,
that's me, Like that's crazy, Like I'm so obsessed, and like,
you know, I know your mum's not around, and I
don't know how sickle that relationship was, but you get
to keep one with her. I just know she'd be
so proud, like knowing what she's been through. I'm assuming
one of the biggest fears she had was that you
would follow in her footsteps and you didn't, like, imagine
(33:11):
how black. I know she's not here, but like she is,
she knows, like she knows that you've done really well.
Speaker 3 (33:16):
Yeah, one hundred percent. I like to think that every
every decision that I'm making is just like part of her,
Like I'm part of her. I'm always doing my best,
not just for me, but for her. I'm her only child,
and I just feel like, you know, I'm like her
legacy or something.
Speaker 2 (33:35):
You are and you're killing it, Like, Oh, I'm so proud.
Tell me you've built up a significant property portfolio for
being so young, and obviously have a great income. Do
you have personal insurance? If not, why not?
Speaker 3 (33:49):
Yes, I do.
Speaker 2 (33:50):
I can't.
Speaker 3 (33:51):
Of course I do. I don't juste have mine Morgan.
Speaker 2 (33:53):
I was about to say, I really doubt you don't,
given yours so engrossed into the community, but like I've
got ah No, of.
Speaker 3 (34:00):
Course no, I definitely do, and I will say that
I feel like I'm this walking billboard for it with
all of my friends and family, even my work colleagues.
I am just like you about personal insurance. This is
why you should get it, and oh I've got it
through Soper.
Speaker 2 (34:15):
And I'm like that's not enough.
Speaker 3 (34:15):
You need to do this datata, Like that's just my
love language is talking to people about personal insurance.
Speaker 2 (34:21):
Well, your dad said that your love language was like
caring about people, so this makes sense. And like finance
is a way that you can create like as safety nets,
so it just makes sense. I keep saying to my husband,
I'm like, we should find a way to turn personal
insurance into some kind of multi level marketing business because
like we would have people talking about it night and day,
(34:41):
like imagine.
Speaker 3 (34:43):
One hundred percent. Now it really is. My love language
is talking about personal insurance more than anything. One hundred percent.
Speaker 2 (34:48):
I'm obsessed money doars. Tell me, what do you think
is your best money habit?
Speaker 3 (34:53):
My best money habit is that I do not worry
about money anymore the way that I used to do.
I used to really just get nervous at the end
of each fortnight waiting for pay to come in. And
now I just feel with everything automated, with so much structure.
In the last twelve months, I've been able to afford
three holidays and I'm not blinking twice over it because
(35:14):
I'm that structure. I know exactly what's coming in, exactly
what's going out, what's you Everything's just automated.
Speaker 2 (35:21):
That's crazy, and like not in a bad way, Like
that's crazy in like the best of ways. Money darist,
what do you think your worst money habit?
Speaker 4 (35:28):
Is?
Speaker 3 (35:29):
My worst money habit is laughable. But I have just
discovered Sheen. I know I'm a late bloomer, but I've
just discovered Sheen. And I'll say in the last three months,
actually probably more accurate would be in the last two months.
I've made three substantial.
Speaker 2 (35:46):
Orders on Sheen. What are we buying on Sheen? Though?
And also stop buying off Sheen You'll get canceled. You're
lucky that this part's anonymous.
Speaker 3 (35:55):
Oh thank goodness, No, mostly just clothes. To be honest,
I don't know who got me on to sh who
I have to blame for that. That's definitely my worst
money habit lately. But other than that, I think I'm
pretty good.
Speaker 2 (36:08):
I just feel like that's not the worst money habit.
That is fine. I'll let that one slip. Money Diarist.
At the start of this episode, you said, I think
I'm gonna bee because, like, everybody has stuff to learn,
and I agree. I'm the type of person that just
really loves continuous learning and like learning new things, and
I'm really like adventurous and I'm going to be adventurous
and flip this question because I think that you're going
(36:30):
to say I'm still a Bee, Like I've done really well,
but as I said, I've got stuff to learn. What
do you think, baby, you would rate you if they
were forced to give you a grade from A through death?
Speaker 3 (36:40):
Baby me would one hundred percent give me an A.
But the only reason I've given myself a BEE is
because as soon as I've ticked off the share portfolio,
that'll be my A.
Speaker 2 (36:50):
Okay, And that's a really easy A. The appointments already booked,
We're already doing it. I'm so excited, Like, my Queen,
you and I are going to have to do another
money diary at some point, because I just know you're
going to be like, hey, they let's do another money diary.
I've got five properties, and then I'll be like, okay,
call me again and you'll be like, oh, yeah, I
got ten. Like this is going to be crazy, and
just I think the thing that I love about this is, yes,
(37:13):
it wasn't the most conventional entry to property ownership, but
what you're doing, you're doing on your own and you're
on a really great salary, but you're still on a
really normal salary, Like it's not unreasonable to expect that
women who are in their early thirties can earn six figures.
Like it's your budgeting, it's your cash flow, it's your habits,
(37:34):
it's your mindset, it's all of that that's created the
life that you have today. And just I am so
freakin proud of where you've come from and where you're going,
Like are you kidding me? Like, I'm just I'm so excited,
and I'm also just so excited that I get to
share this story with my community, because there are going
to be people in this community that really resonate with going,
oh my god, like I had a semi similar upbringing,
(37:56):
or you know I had that much turmoil or you
know it felt really bad. Is this something that still
impacts you today? Like how does your upbringing still impact
the decisions that you make around money on a daily basis?
Or you like, no, I've moved on from that, or
is that still something that like she's in the back
of your mind and you can't seem to shake it, Like,
(38:17):
and I feel like it might play into things like
you wanting to pay off your first property in its
entirety and owning it outright, so that level of financial
security because like, on paper, an advice is going to
tell you that's not the best idea, but in principle
and emotionally, like you need that and that's what you know,
good financial advice takes into consideration, Right, So what other
(38:38):
things do you think at impacting you day to day
that have come from your childhood?
Speaker 3 (38:44):
I think in my mind, I don't earn one hundred
and eighteen a year. In my mind, I only own
like fifty because that's as much as I give myself.
I like to just really always prioritize my future self
in that way. And I think if I pay them
all off now, I can live mortgage free here for
a couple of years before going back into another mortgage.
(39:05):
But it does impact me, i'd say daily, in almost
every transaction, in every interaction that I have, because I'm
not just thinking about my younger self, but I'm also
thinking about my future self. I'm not sort of over
indulging in like nice dinners and things like that, not
because I don't like them or appreciate them. It's that
(39:26):
a part of me is like I value it, but
I don't value it daily.
Speaker 2 (39:32):
No, that makes absolute sense, and I wanted to touch
on that because I just think that people who are
in those situations, it's like reflecting back on something you
said at the start of this episode. You were like,
when I was eighteen, I was just going to hit
eighteen and everything would go away and I would be
different and I would be at peace with it. And
I think that it's something that you just learn to
(39:52):
live with and learn to reflect on, and you become
older and wiser, and that's great, but it's always going
to impact you. And I think that it's important to
point that out because there are so many young women
who listen to this show who might be in similar situations,
who might be, you know, baby, you at the start
of your journey when you picked up the podcast for
the first time, and they need to hear stories like
this that are like, no, I did this myself and
(40:14):
you can too. So if we, you know, leave on
one note, what would be your advice to your past
self if you were listening to this episode as the
very first.
Speaker 3 (40:25):
One, start sooner?
Speaker 2 (40:27):
I love that go back in time.
Speaker 3 (40:31):
Oh, I don't know. I feel like it almost wouldn't
have mattered. It wasn't about what was being shared. It
wasn't about the content. It was the timing. And when
you're ready for it, your body, your mind knows you're
ready for it. Like even talking with friends that I
have now that are like a year or two younger
(40:53):
than me who don't own property, like I try to
have the same conversation that Tash had with me and
seat of give them that in empowerment and excitement that
money can bring when you're in control of it, when
it's not controlling you, and the choice that it gives
you in the freedom to leave situations you want to,
whether it's relationships or jobs, whatever, until you are ready
(41:16):
for it. It actually doesn't matter, like it's got to
be from within, Like you've got to want it that
bad that you're willing to make all these changes.
Speaker 2 (41:24):
I'm obsessed, and I feel like that hits the nail
on the head Money Diresty. It has been an absolute
privilege sharing the last hour with you, having a good
chat about absolutely everything from your upbringing to property to
you know, just you hustling and killing it. I'm so
obsessed and I just I'm so glad that we got
to cross paths. So thank you for sharing your journey
with the community.
Speaker 3 (41:45):
Thank you so much.
Speaker 4 (41:51):
The advice shared on She's on the Money is generally
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.
Speaker 2 (42:03):
Investment or financial decision. If you do choose to buy
a financial product.
Speaker 4 (42:07):
Read the PDS TMD and obtain appropriate financial.
Speaker 2 (42:10):
Advice tailored towards your needs.
Speaker 4 (42:13):
Victoria Divine and She's on the Money are authorized representatives
of Money sherper PTY Ltd a BN three two one
six four nine two seven seven zero eight AFSL four
five one two eight nine
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