Our diarist this week went from being a flat-broke uni student who could barely afford rent to paying off a $25,000 car loan on a graduate salary in less than a year. She built her emergency fund, started investing, got serious about her money and completely transformed her financial situation.
But now there's a new problem. Every time she spends money, she feels guilty.
We chat about moving away from home at 19, being the only person in her share house paying her own rent, paying off debt, building wealth in regional Australia, dating someone with four investment properties, and the surprising money mindset shift that came after getting her finances under control.
Because sometimes getting good with money isn't the hard part.
Sometimes it's learning how to enjoy it.
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Acknowledgement of Country By Nartarsha Bamblett aka Queen Acknowledgements.
The advice shared on She's On The Money is general in nature and does not consider your individual circumstances. She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs. Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708, AFSL - 4451289
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Speaker 1 (00:00):
My name's Tatasha Bamblet. I'm a proud First Nations woman
and I'm here to acknowledge country t Glenn Young Ganya Niana,
kaka ya Ya bin Ahaka Nian our gay In Nimbini,
yakarum jar Doumayagumika Umaga Ihowaka Nile Waman damon Immalan Bumba
bang gadaboma in and now in Waka ghana on yakarum
jar Watanadaa. 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 (00:45):
She's on the Money. She's on the Money.
Speaker 3 (00:51):
Hello, and welcome to She's on the Money, the podcast
that LEDs you be pervy about other people's money stories
for educational purposes, of course. Welcome back to another one
of our money diaries, brought to you by our friends
at Sky Wealth, where I get the absolute privilege of
sitting down with one of our incredible She's on the
Money community members to talk all about their journey. Let's
(01:12):
jump straight in because this week I got a message
and it sounded exactly like this. Hi, She's on the Money.
When I say I was flat broke at UNI, I
mean it. I carried that into full time work and
after getting a car loan in December twenty twenty four,
I felt overwhelmed and not in control. So I scrolled
all the way back to episode one and I just
(01:32):
started again. September twenty twenty five, my twenty five thousand
dollars carloan was completely paid off on a grad salary,
and in the last five years I've gone from living
in Melbourne to now living on a farm with my
boyfriend in country New South Wales. I have savings, I
have investments. I have plans and dreams, as well as
a partner with four investment properties with plans for us
(01:56):
to get one together or me by into his. She's
on the Money transfer formed my life and has seen
me through every season. However, going from flat broke to
having money, I now have developed terrible guilt and dread
around spending, and I worry I'll be that cheap friend forever.
Money Diarist, What a journey, what a privilege, but also
(02:16):
what a worry, Like you're not going to be the
cheap friend forever?
Speaker 2 (02:19):
What the heck? I know, it's just the gilt is insane,
Like now that you have money, you don't want to
see it go, and seeing your bank account grow up
and up it just gets a bit addictive, and then
seeing it go down you're just like, oh my god.
Speaker 3 (02:33):
That's also such a like one e like going from
flat broke car loan all of the stuff that makes
you feel financially stressed to being like, not only did
I get my stuff together, I gotta be a man
that had assets.
Speaker 2 (02:48):
Yeah.
Speaker 1 (02:48):
I know.
Speaker 2 (02:48):
He was actually a really big part in me sort
of turning my money so around because I actually used
to listen to She's on the Money in twenty twenty.
I first started way back when we were all picked
up at home literally because I think sort of what
happened was I moved away to UNI when I was nineteen,
so twenty twenty, like quickly realized how hard and expensive
(03:12):
life is, and then I moved back home for COVID,
and then once I realized we kind of weren't going anywhere.
Speaker 4 (03:19):
I got a job and I ended up getting on
job Keeper.
Speaker 2 (03:24):
And the job keep that I was put on it
was actually funny because the two weeks that I started
my job was the two weeks I had on UNI holidays,
and it was also the two weeks where the government
determined whether you're a full time like casual worker.
Speaker 3 (03:39):
So I got on the top dollar okay, but like
money win, like good things happen to good people, baby.
Speaker 2 (03:46):
Yeah. So and then I was kind of into Hot
Girl Walks podcasting, and I was like, I have all
this money coming in now I kind of need to
figure out what to do with it. So I always
had that sort of financial knowledge in the background, but
one when I went back to UNI, I was like,
I just kind of want to live my life a
bit and worry about money later. So I said, see
(04:08):
you later to ses on the money for a little bit.
Speaker 3 (04:10):
But we're always here, like you can come back, like
if you want to go to me, that's fine, Like
I actually don't mind if you guys want to go
and then come back later. Like I'm kind of like
your parents, like I don't mind. Go have a fun time.
There's always a homeback here for you. You're always welcome.
Speaker 2 (04:25):
So I always knew what I should be doing, and
I had that like a little bit of knowledge in
the background. But yeah, I just was like, no, I'll
think about that later.
Speaker 3 (04:36):
And now you've gone, I want to go home. And
then you've come to see me again. And I welcomed
you with open arms and you got out of debt.
Speaker 2 (04:45):
What the heck this really like? I was so overwhelmed.
I remember I was sitting at work and I was
thinking the answer would being I'd need more money because
I was straight out of UNI. I actually ended up
getting quite a high paying job. I was on eighty
thousand with a ten percent bonus, just straight out of Ynny,
I know, but it was very corporate and I wasn't
(05:05):
enjoying it. So an opportunity to come up to move
to a more practical, hands on job. But I dropped
to seventy thousand dollars a year, so it was quite
a big change. And I remember sitting there at work
after I got this loan and I had it for
about a month, and I was thinking the answer was
just more money, but I just did it. I needed
to figure out the money I had so I just
(05:28):
literally went back to episode one, and.
Speaker 3 (05:30):
I'm very glad that you did thanks to the downloads.
Speaker 2 (05:33):
Babe.
Speaker 3 (05:34):
Tell me, if I asked you to give your money
habits a grade from A through to F, what would
you say your money habits were? Oh, maybe like a
B plus love love Let's learn more about it. What
is your money's story? Like, can you tell me a
few things that have impacted it?
Speaker 2 (05:50):
Yeah, So I was really thinking on this, and honestly,
my childhood not that impactful in terms of money story stuff,
Like I think it was deep down, you know, like
my parents really did a very normal suburban life. You know,
we'd go on camping holidays, but a holiday to the
(06:10):
Gold Coach was a big deal, you.
Speaker 3 (06:12):
Know, so the same we did it once and we
drove and like that was like the biggest thing ever.
Like I still remember it, Like, yeah, I adore that
other people got to travel overseas, but yeah, that to
me still feels fancy because of the way that I've
grown up.
Speaker 2 (06:29):
Yeah, and even thinking when people take like little kids
on overseas holidays, I'm like, why are you doing that? Girl?
Speaker 3 (06:34):
When my son was four months old, he was on
a plane to Italy, like what the hell? Like the
whole time I was like talking to this four month
old on a plane, I'm like, you don't know how
good you've got it, Like you don't know, you don't
get it, no.
Speaker 2 (06:46):
Living the dream. But my parents were always very anti dead,
you know, like I was always known to not get carloons,
which is bit ironic because I got one, but I digress.
And my mom, like she had a credit card, but
you know, it was always paid off, it was never
really a thing. And then my mum was actually fully
in charge of our finances, you know, like my dad
(07:09):
wasn't allowed a debit card because he would go a
bit too crazy with it. So I think seeing that
my mom was kind of always in charge of money,
and I think Mom came from a more scarcely mindset
in terms of money, you know, okay, Like she kind
of did have a bit of guilt around spending money,
and I didn't really notice it until I was older
and became educated around money. So it's funny looking back
(07:30):
making that connection now. But honestly, I would say the
most impact on my money story was when I went
off to UNI, so I moved from Melbourne to country
New South Wales in twenty twenty. I was fresh nineteen.
Speaker 3 (07:45):
That's a massive change.
Speaker 1 (07:47):
I know.
Speaker 5 (07:47):
I don't know where I got the audacity, but looking
back at it, if we borrowed it from a medioc
middle age white man, probably, But looking back at it now,
I was like, I don't know if I could make
that move, like that's pretty ballsy.
Speaker 4 (08:00):
I remember my parents dropped me off at UNI and
I was living.
Speaker 2 (08:03):
With twenty five other people with like one kitchen and
things like that, and I was on campus and they
just like said goodbye, and I was just sitting in
my room alone and being like, okay, now.
Speaker 3 (08:12):
What Yeah, Like you'd done so much planning up until
that point. Yeah, well be telling everyone, yeah, I'm gonna
go to UNI, I'm going to do this, I'm going
to do that, And then you're sitting in the room
and you're just like, do I clap?
Speaker 2 (08:25):
I was like, I better go downstairs and make some friends.
But when I moved, it was it was never a
question of if my parents were going to pay for it,
like I always knew I would, like I moved out
and became fully financially independent, it was never I never
even considered my parents paying rent for me or giving
me regular money, Like it just wasn't a thing that
(08:47):
I thought was normal, But it was when I went
to UNI. I remember in one of my I was
in a sharehouse and I was the only person who
actually paid their own rent. All of my friends' parents
were paying their rent, and I don't know, I think
it was potentially because you know, they were from you know,
(09:08):
farms and countries and stuff like, and from the country,
so they didn't have the option to stay at home
and go to UNI, whereas I totally could have just
stayed at home and commuted to like Melbourne, UNI or
something like that if I really wanted to. But I
think that sort of really impacted me because I never
really understood that a lot of people kind of were
(09:31):
getting leg ups in life, and that I was sort
of I don't think I was ever disadvantaged, because I
never really went without in my childhood, but I just
never knew that it was a normal thing for people
to give their kids lots of money.
Speaker 3 (09:46):
Neither did I. I remember getting to UNI and like,
I was in a very lucky position where I was
gifted a car from my parents, but it was my
mum's old old car, and like I was still having
to pay for it everything on that. Dad was like,
you can have your mum's old car, because like we
could sell it for five hundred dollars. Like it wasn't
like a, oh, mom's got this beautiful Mazda three, you
(10:09):
can have and we'll just get a new one. It
was literally like an old car that when I turned
too hard to the left, the gas system stopped working.
Like like I was just grateful to have it. And
I took over all of the payments on that, like
insurance and like the Red Joe and stuff, and I
thought I was living. And then I got to UNI,
and I was like, what do you mean, Like everyone's
(10:31):
parents just quote gave them a car, and what do
you mean your parents are paying for this beautiful apartment
in the city, Like I'm hustling in a sharehouse same
as you. Like I'm hustling in a sharehouse. And I
remember my rent was like two hundred and fifty dollars
a week, like that was chaos. And at the time,
I was sharing with a boyfriend because that made it
more economical. And I remember thinking I have to move
(10:52):
out with my boyfriend because otherwise this is just not
going to work, Like this is going to be crazy.
Speaker 2 (10:56):
Yeah, yeah, I know, I yeah, I kind of really
realized it happened, and especially going to like a country Uni,
there's a lot of sort of wealth in different ways.
Like I don't fully understand how all the tax rightoffs
and stuff work, but I do know in agriculture that
there is a lot of tax rightoffs in places, so
(11:18):
you know, financially, it made sense to buy a brand
new high Loux and give that to your kid. But
I don't know, I don't know.
Speaker 3 (11:26):
Look, I don't know how we make it work, but
if that works for them, I am genuinely very happy
for that. A little bit envious, but genuinely happy. Like
I just remember that was really eye opening for me.
I remember being like, oh, okay, oh you just what
do you mean you just have like a copy of
your mum's credit card. That's crazy to me, Like if
(11:47):
I'm out of money, go I'm out of money?
Speaker 2 (11:49):
Yeah yeah no, And I think that I'm I'm really
grateful that my parents didn't really give me anything, to
be honest, because I don't think that I would I've
ever been in the position I am now if I
wasn't flat broke like in my final year of UNI.
I actually ended up going out of sas like twice
and definitely couldn't afford them, but made it work. And
(12:13):
so yeah, like I was slipping on campus and I
couldn't pay my rent, so I was just really hustling.
I couldn't even I would love to know what was
the lowest my bank account went to, because I wouldn't
even be surprised if it was like one hundred dollars
or something like that, like probably lower.
Speaker 3 (12:29):
Oh, I overdrew my bank account. I remember the day
that I learned that you could overdraw a bank account
because I didn't mean to, and I got like a
notification in my emails to be like, oh, your bank
account has been overdrawn, and I logged in and I
was like, what do you mean overdrawn? What is overdrawn?
And then seeing that my bank account was negative, I
was like, oh, that's crazy. I didn't even know I
(12:49):
had a credit card, and like, I was so like
financially illiterate at that point. I thought that my debit
card had turned into a credit card and then I
was going to get into heaps of debt and obviously
that's not great, but like, yeah, it was just it
was crazy to me. So yeah, I went't full negative baby,
like maybe you did too.
Speaker 2 (13:07):
Yeah, I didn't know that debit cards could go into
the negative, so it's probably good I didn't know that.
But I think it's funny because since I did listen
to ses on the Money in twenty twenty and into
twenty twenty one, I did have that financial background knowledge,
so like I knew not to get a personal loan
to go on holidays. I knew not to do all
these things, so I didn't even know people got personal
(13:29):
loans for holidays. When I found that out, I was like, God,
that's insane.
Speaker 3 (13:35):
Also so nice that you're kind of like out of
the loop on that, because I think if you are
at UNI, sometimes it's better to not know that those
things exist, because if you do, you might go, oh, well,
if everyone else is doing it, maybe i'll do it.
Speaker 4 (13:52):
Yeah.
Speaker 2 (13:53):
So I kind of went on to just being broke,
and then I ended up getting a job pretty well
straight out of UNI, which was great, and I did
end up finally making money there, and it was crazy
because everyone knew that I had no money during UNI,
like I was working heaps and it was kind of
a funny thing.
Speaker 4 (14:12):
But then I ended up getting a job and it
ended up being all well.
Speaker 2 (14:15):
But then my first car was only worth like two
and a half grand, like I bought it, and in
September of twenty twenty four, I got rear ended and
I was completely fined and my car was actually not
that bad, but the insurance company said that it's not
worth fixing it. So I just ended up getting paid
(14:37):
out for that, which I think I'm geting like three grand,
so nothing crazy, but more than I paid.
Speaker 4 (14:42):
So I needed a.
Speaker 2 (14:44):
Car money in exactly, I needed a car, and I
didn't really have enough money to buy. I probably maybe
had like ten grand in my bank account then, which
was pretty good, but I wanted a nicer car because
during the time that my car was yetting a the
insurance company gave me a car and it was like
nice with Apple car plane stuff like that, and I
(15:04):
was like, oh, this is cool. So I ended up
getting a car loan and I got it through my
bank because I kind of thought, like my parents kind
of led me that way. They said, oh, don't go
through like a dealership, don't get finance, like, do it
through your bank. And then they kind of had the
understanding that it would be good for me to borrow
money because then it can show the bank that I
(15:26):
can pay it back.
Speaker 4 (15:27):
But then after listening to Chese on the money, I
know that's not true.
Speaker 3 (15:31):
But also you don't know what you don't know. And
I feel like so many of us, like here from
the US what goes on in terms of like lending
and credit scores and stuff. So it makes sense like
if your parents were like, oh, girl, this is what
you should be doing, You're obviously gonna be like, yeah, okay,
that makes sense, let's do that. And then obviously it's
(15:53):
not the right decision and that's okay, But like sometimes
we have to make some mistakes to get on the
right track, right, And it sounds like you've done exact Yeah,
So tell me what do you now do for work
and how much money do you earn.
Speaker 2 (16:04):
So I work in agriculture, I would say my job
is I do a lot of the data analytics for
farms and look at their genetic data and also how
their genetic data. Yeah, so genetics play a huge role
in farming and selecting, Like I'm working with cattle and
(16:25):
selecting bulls that have the traits that you want, So
things like intramuscular fat, like you can select for that
or yeah, so it's all linked to genes. Farming is very,
very smart, Like there's a full blown geneticis that the
company I works for have and they do all their
genetics selections, Like bulls can go for like hundreds of
(16:49):
thousands of dollars sometimes.
Speaker 3 (16:50):
So really, yeah, this is one of the reasons why
I love chatting to people on money Dries because like,
you guys have such a job, but like, what do
you mean you work in genetics for agriculture. Like, don't
get me wrong. People are probably listening to this and
they're like, Victoria, you idiot, Like of course they do,
(17:10):
but like this is just not something I had comprehended,
especially coming from like my grandparents were sheep farmers.
Speaker 2 (17:16):
Yeah, so like I didn't know that.
Speaker 3 (17:19):
Like they were just like lambs. If one gets rejected,
you put it in a box by the fire, and
we have a canara in the kitchen and that's how
we help our you know, lambs grow up. That's about
as far as it got for me. So how does
this evolve and what does that look like as a job?
Speaker 2 (17:35):
For you. So we get these things called estimated breeding
values from animals and they have all their scores on
how they go in terms of different traits and things
like that, and you can look at them and select
traits that you want, and you can also compare them
to like the female you're using. And so each sort
(17:55):
of company has different goals in terms of what they want.
So you can even select for docility, so if you
want a more calm bull, which are easier to work with,
so a lot of people select for that, or you know,
if they want a bigger frame, then they can select
for that.
Speaker 4 (18:11):
So we have that.
Speaker 2 (18:13):
But then I also look at things like average daily gains,
like what they're eating, how much weight they're gaining, how
long they've been eating it for. So yeah, just look
at excels a lot. But yeah, it's a huge market.
Like they even do IVF and embryo transferring cattle. It's crazy.
Speaker 3 (18:32):
That is insane. Also, I want to know, do you
know how much that costs? Like, is it also ten
grains around?
Speaker 2 (18:38):
No? So this company that I know, it's three hundred
dollars per osite collective, So.
Speaker 3 (18:47):
I mean it does make sense. There's probably less like
you know if we lost an embryo, you guys are like, oh,
so right, just do it again, because it's cattle as
opposed to your literal lives. But that's crazy the difference.
Speaker 4 (19:02):
Yeah, and it's pretty crazy.
Speaker 3 (19:03):
And to do all of this, how much money are
you making?
Speaker 2 (19:07):
So it's actually really cool. With my job, I am
full time, but I get paid hourly, so I'm on
forty dollars an hour.
Speaker 3 (19:15):
But well that's good.
Speaker 4 (19:16):
Yeah, So I think I ended up doing about forty
hour weeks.
Speaker 2 (19:20):
So I did eighty hour four nights, and so it
ends up to be around eighty four thousand dollars a year.
So I was quite happy with that because I recently
changed roles and I finished my probation like a few
weeks ago, and they gave me a five dollar pay rise.
Speaker 4 (19:35):
So I was on thirty five and now I'm up
to forty.
Speaker 2 (19:38):
I love that.
Speaker 3 (19:38):
And from the way that you're talking about your job,
is it safe to assume that you really like it?
Speaker 2 (19:43):
Yeah? I really like it. I kind of came from
a not so happy job, Like it was a really
cool job I used to have, but I was really
really unhappy in it, and I am in a workplace
where I feel respected and valued and there's a great
work life balance, you know, So I am really happy.
Speaker 4 (20:05):
Funny actually though, because I was a community DM like
a few months ago.
Speaker 3 (20:11):
Were you actually?
Speaker 4 (20:12):
I love that it was the one about how to
not burn a bridge when leaving a job.
Speaker 3 (20:18):
Oh how did that go?
Speaker 2 (20:19):
Yeah? So I ended up sticking it out for the
busy period and it was hard because my boyfriend where
I live with him now, it's a pretty isolated place,
so and I knew my next job would be where
he lives, so I was quite limited on options. And yeah,
I ended up sticking it out, and I actually spoke
to one of my other bosses and he gave me
(20:41):
a reference, even though I didn't end up really needing one,
and he was actually said, or maybe don't tell your
other boss, just give him the one month notice. And
I ended up telling my boss like three months in advance.
So yeah, I left, And I'm happy, I.
Speaker 3 (20:57):
Was going to say, and did it all work out?
Because sometimes it really like, you know, you don't want
to burn a bridge, but you also like need to
move on and do what's best for you, but it
just feels so awkward, especially when you're like trying to
keep everybody happy.
Speaker 2 (21:12):
Yeah. I think it was a pretty common question people
might have because if you were in my position where
it was really only your first time working in that industry,
you kind of future employees will want a reference from
a company that you worked for in the industry, you know,
And if you remember that, absolutely, and you're trying to
(21:32):
leave without being weird about it.
Speaker 3 (21:35):
Absolutely, And is there anything in that process that you
would do differently, Like if someone listened to that and
was like, oh, like that's my situation, what would your
advice be.
Speaker 2 (21:45):
Yeah, I would say go to someone who's trusted and
a person that you trust at work who understands you.
Speaker 4 (21:53):
And yeah, I was lucky that I had another boss
who understood.
Speaker 2 (21:57):
Me well, but I know people who are working with
they used a colleague that was in a similar role
to them, maybe one step up. So yeah, it doesn't
necessarily have to be your direct boss as a reference,
which I didn't really know. It can be anyone. Yeah,
that's true. Yeah, just find someone who is trusted and
(22:19):
someone who you feel like isn't going to tell everyone.
Speaker 3 (22:24):
Yeah, And that's a really good point as well, and
something that I know I didn't say on the podcast,
but like, what a good suggestion to go and chat
to someone in your workplace that you do genuinely trust, Yeah,
who can give you some advice because like, you know,
if I ask my husband about stuff to do it work,
like he knows of the people, but he's never worked
(22:46):
with them. Yeah, so he might be like, oh, yeah,
just tell her she seems chill. And then like you
go and talk to somebody else and they'd be like, oh,
maybe don't do that this week because they're really stressed,
Like how about you wait till here or there, Like
that's the insight that we want.
Speaker 2 (22:59):
Yeah, yeah, So going to someone that I trust had
definitely made it a lot easier.
Speaker 4 (23:05):
But I was very excited to quit a door.
Speaker 3 (23:08):
All right, let's go to a really quick break and
on the flip side, I want to talk to you
about investments. I want to dive a little bit deeper
into that debt that you mentioned you used to have.
We're going to talk about personal insurances and then your
best and worst money habits. So guys, don't go anywhere
money diaries do. We are back and I want to
(23:29):
dive straight into investments. You said earlier in the show,
I used to listen to She's on the Money three,
Shees on the Money in the bin, because like, I
was living my best life and I've come back.
Speaker 2 (23:39):
So what is your.
Speaker 3 (23:40):
Investment journey looking like?
Speaker 2 (23:42):
So back in the day, I did have RAIS and
I just had the automatic investments, and then when I
went overseas, I just took it all out. I think
it only got to like three hundred and something dollars.
But I have investments now with Chaesis and I started
and January, and I've got IVV, which is just the
(24:04):
index for the US. I had VAS which is just
the Australian index, and then I have VIE, which is
the Asia index but excludes Japan.
Speaker 3 (24:15):
You really like a vanguard moment, I'm back, and then.
Speaker 2 (24:19):
VAQ, which is the European index, and I also have NAB.
Just it's actually the reason why I got NAB is
because I was listening to an episode. It was from
like twenty twenty three, and you used NAB shares as
an example, and you're.
Speaker 3 (24:34):
Like, oh no, Like don't get me wrong, Like you're
allowed to own NAB, but like I always use it
as an example, and I'm always like thinking in the
back of my head, I'm like, I hope people don't
take that as a recommendation.
Speaker 2 (24:45):
No. I didn't take it as a recommendation. I took
it because at the time, NAB was worth twenty five dollars,
and then I looked at it, I was like, oh,
I wonder what it's worth now three years later, and
it was worth like forty two. So I was like what.
Speaker 3 (25:01):
I was like, it's a banking share for you. Like, yeah,
they called like blue chip shares, and that doesn't make
them better. No, it means that they're like tried and
true and tested and kind of really boring, and that's okay,
but like we kind of love that they're tried and
true and tested and boring. Like yeah, when it comes
(25:21):
to my investment journey, I want it to be boring.
Speaker 2 (25:24):
Yeah, yeah. Track. Well, that's why I kind of went
for all the indexes because I was like, I'm going
for a long term.
Speaker 4 (25:31):
At the moment, I have one thousand and seventy one
dollars invested.
Speaker 3 (25:36):
Look you go, you cracked your four figures already.
Speaker 4 (25:39):
You know, and it split pretty well evenly.
Speaker 2 (25:42):
I just kind of I was doing one hundred dollars
a fortnight up until I got a pay rise, and
I'd just do like twenty five twenty five to twenty five,
and then I also have the roundups on and anytime
the roundups would be twenty five dollars, it'd go into
chaseas and that's when I would buy nap with And yeah,
so that's a dollars now. But it's kind of grown
(26:02):
a bit because when I bought it was when everything
went down, so which I knew was money win. I know,
I was like, Wow, the SMP five hundreds down by
like seven percent, let's buy heap.
Speaker 3 (26:17):
See, that's what we love to see. And a couple
of months ago, the S and P five hundred was
down again and I was thinking like, oh, maybe I
should pick up some more. And then I was like
trying to take my own advice and not try to
time the market. So I tipped a little bit, and
now I'm like, should have done more, and we all
do that.
Speaker 2 (26:35):
Yeah, yeah, So I think now I've sort of put
it up to like one hundred and fifty a fortnight.
Speaker 4 (26:40):
I might put it up to a little bit more,
but we'll see.
Speaker 2 (26:44):
But yeah, I just consistently do like two hundred and
two hundred dollars a Fortnite and I just had my
roundups on and then I also have my Super which
I checked is at twenty three thousand and fifty four dollars.
Speaker 3 (26:57):
Hey, that's good.
Speaker 2 (26:58):
And how old are you? Twenty five?
Speaker 3 (27:00):
Your twenty that is good?
Speaker 2 (27:02):
Look at you. Tracking my old corporate job fresh out
of UNI for some reason, made a lot of additional
contributions to Super, not out of my pay or anything,
but just.
Speaker 3 (27:12):
We will take it. Like, I'm not going to complain
about that ever. Yeah, now talk to me about personal insurances.
You are only twenty five. But is this something that
you've considered, something you've organized? What does that look like
for you?
Speaker 2 (27:24):
Yeah?
Speaker 4 (27:24):
So I actually had a call with sky Wells a
couple of weeks ago, because.
Speaker 3 (27:28):
Every money does recently like this is not paid by
the way, like we do not pay our diarists or
pick them if they are with skyweld. But I swear
everyone that I'm getting recently is like, oh yeah, I
called them, and I was like what.
Speaker 2 (27:41):
Yeah, yeah, No, I just called them and I kind
of spoke to them about it because I actually don't
have any insurances in my super.
Speaker 4 (27:49):
And they're like, all right, that's weird that you should
talk to your super company about that, because are like
normally the way insurances kind of work is you have
it the whole time, or when you turn twenty five,
they automatically kick in.
Speaker 2 (28:00):
Yeah, And so they kind of talked to me a
little bit about like what they could do, and I
do need a follow up with them because I think
I will actually end up going with them, because I
didn't know that you pay like your insurances is set
up in your super and like your super money pays
for it as far as I'm aware. And I ended
up calling my super company and they're like, basically, when
(28:22):
you were nineteen, we sent you a letter saying if
you don't reply to this letter, we're going to cancel
your insurance. And I was nineteen and living in New
South Wales, and I went to my parents' house, so
I didn't get it. I think it was just, yeah,
their way too sneakily stop giving people insurance. And I
was talking to the lady on the phone. She's really nice,
but I was like, damn, like a nineteen year old
(28:44):
had to make you put that in the hands of
a nineteen You.
Speaker 3 (28:47):
Don't understand it at that point, And even if you'd
gotten that letter, you would have been like, well, I'm
not using that insurance, like I'll probably cancel it anyway whatever, Yeah,
like I don't need that. Yeah, but why am I
paying for it? Like you're taking my super money? And
that would have been at nineteen my mindset as well. Yeah,
they did that to so many people. And the reason
(29:09):
they did that to people was because you would have
had a really low balance at that point in time,
and they, like the government actually mandated it. So it
wasn't your super company being rude, but they were told,
if they have under a certain balance, you need to
let them know that they have to choose this because
otherwise the insurance premiums would have eaten away at your
super and then you would have had no super but
(29:30):
you would have paid for insurance. And so I get it,
but I don't like it.
Speaker 2 (29:35):
No. Yeah, I was like, oh it's a bit rough,
so currently not personally insured, but thinking about it.
Speaker 3 (29:43):
Oh, good girl, I like to hear it. Now, tell me,
what do you think your best money habit is.
Speaker 2 (29:49):
I would say my best money habit is I'm very
disciplined with money, Like I could very easily go without,
you know, so if I have a purchase, I'll put
three between it, like I'll really really think about it.
And then I think I have really really good structures
with my pay I can tell you how I split
(30:10):
all my money if you really want to.
Speaker 3 (30:12):
And of course I want that, and like the pervier
the better on this show, girlfriend, you should know.
Speaker 4 (30:18):
When I listened to money diaries and I don't say numbers,
I'm like, oh, come.
Speaker 2 (30:21):
On, yeah.
Speaker 3 (30:22):
But I never also press them for some of that
false information out of you. If like people have given
me the privilege of asking them about their situation, I'm
not going to be like, well, why aren't you telling
me more? Yes, give us the numbers and for any
future money dirests. We love to see the perviest of bits.
Speaker 2 (30:38):
So my most recent pay I grossed three two hundred
dollars and my net was two four hundred and thirty four.
And so we're very lucky. With my partner's job. So
him manages a farm, so he's off his own farm,
but he manages this farm because his parents are still
at home, and so so we get a free house
(31:01):
and free bills, so I don't eat money win, so
I don't have any rent I don't have any bills,
like in terms of housing and things like that. So
my fixed costs for like rent and stuff is one
hundred and forty five dollars a fortnight.
Speaker 3 (31:16):
Okay, Queen, I know this is like so incredible, but
also for me, I'm looking at it going Queen, if
you are not making hey while the sun is shining, like,
I'm going to be pretty mad at you.
Speaker 2 (31:27):
I know. So yeah, I definitely do. So, yeah, we
don't have any rent, we don't have any bills. Like
my partner he has his investment properties, but I'm not
a part of them, so I don't have any mortgages
or anything like that at the moment. And then I
give myself like an allowance of four hundred dollars a
fortnight to pay for like yeah, it's more so now
(31:47):
just kind of fuel and spending money that I have.
And I kind of work from home most of the time,
so I don't really spend much money on fuel. And
then also I do get free fuel from work sometimes,
so stop that's pretty great if I have to drive
anywhere for work. And then yeah, I invest one hundred
year shollers a fortnite and then I have a joint
(32:08):
account with my partner, and we put one hundred dollars
in a week, so two hundred dollars a fortnite and
that's more so like food and then like dog food
and just if we go out for dinner, we'll kind
of use that card.
Speaker 3 (32:21):
And yeah, but that means you can kind of like
really build up your wealth right now and put as
much away as possible. And is that kind of where
you're prioritizing things.
Speaker 2 (32:32):
Yeah, so i'd say right now, I have a really
good emergency fund. I'm considering halving it because it's currently
ten thousand dollars, which I don't really touch. But I
don't really think it needs to be that high. But
I just sort of think because since my housing is
attached to like my boyfriend's job, like if we break up,
(32:55):
I'm going to need to find a place to live
and move away potentially, So it is kind of nice.
Speaker 4 (33:00):
To have that buffer.
Speaker 2 (33:02):
But I like, I don't really think I needed that high,
Like I don't think we're going to break up, no.
Speaker 3 (33:07):
But it's also nice to know that, like you've got
that financial freedom. Yeah, Like I think that the coolest
thing about being a woman in twenty twenty six. Is
that like having your emergency fund set up and having
everything organized means you can just say no to literally anything.
Speaker 2 (33:21):
Yeah.
Speaker 3 (33:22):
Like, don't get me wrong, I'm sure you're obsessed with
your boyfriend and we've got no plans of changing. But
to be able to be in a situation where if
anything ever happened, you could be like, no, you get
in the bin and walk out and be fine. Yeah,
what a flip.
Speaker 2 (33:34):
So once I had paid off my car loan. When
I was paying it off, I kept my emergency fund
at like five thousand dollars, and then I still had
my normal bill splits. But that was before I moved
in with my boyfriend, so I had breads, so my
expenses were a little bit higher. But once I paid
it off, I then built it up to ten thousand,
and then.
Speaker 4 (33:54):
If I ever touch it, I just top it back up.
Speaker 2 (33:56):
But any leftover money just immediately goes into savings, and
in savings at the moment, I have fourteen thousand dollars,
So that's stop it.
Speaker 3 (34:06):
And you're twenty five.
Speaker 4 (34:07):
Yeah, that's not including like my emergency fun or anything
like that.
Speaker 3 (34:11):
So your emergency is ten grand. You've then got fourteen
thousand in savings. What else is sitting in other places?
What was your investment total?
Speaker 2 (34:18):
A thousand?
Speaker 3 (34:19):
Yep, and then you've got your super like you are
really building yourself up. Well look at you go. I'm
so proud. I just get so excited, Like I want
to hug fever when they tell me, and like if
you've ever met me in person and you come up
to me and you're like, look what I've done, like
you would know that, I like basically jump on you
because I'm just so excited about it. Yeah, I also
(34:41):
want to be extra pervy. Tell me about your boyfriend, So, like,
how does this dude have four investment properties?
Speaker 2 (34:47):
He's insanely good with money, Like these whole families good
with money, Like all of his siblings have investment properties,
investments and things like that, and he's like family fully
built everything they have. Now he got nothing given to
him at all. And when he was a teenager, he
was just also really good at savings. Like he would
(35:07):
tell me how when he was you know, he was
working at the local supermarket and he would take all
the money out of the bank and then take it
to a different bank that had a high interest savings account.
Speaker 4 (35:19):
You know, and he'd like would have like thirty grand
or something just as a teenager.
Speaker 2 (35:25):
I know. And then so he bought his first house
when he was like twenty I think it was a baby,
I know. And now he has four. They're all in
regional towns, so they were like a bit cheaper to
buy compared to if you bought something in Melbourne.
Speaker 3 (35:42):
Look, I'm not gonna lie. I did assume that they
would have been regional, just because you are in farming
and like, you know, you're a bit further out. And
to be honest, if you said, oh, Victoria, he lives
on like two k's from the Melbourne CBD, you know,
owns for properties, I'd be like, what in the wealth?
Like that has to be intergenerational, Like you know what,
I will wait for the day that we meet someone
(36:04):
who's like I own multiple investment properties and had absolutely
no help. They're all in their CBD. Yeah, that's just
not going to happen. I'm really sorry.
Speaker 2 (36:11):
Yeah no. So, yeah, he's just always been really really
really clever with money, Like having one hundred thousand dollars
in a bank account is just a normal thing for him.
But he does earn really good money. So he manages
afarrog and he's on one hundred and fifty thousand dollars
a year, but then he also gets a free house
(36:35):
and a free car and like a phone and things
like that. So I think his salary package all up
is like two hundred thousand, and he's yeah, it would
be twenty seven.
Speaker 4 (36:45):
And he got that job when he was twenty three.
Speaker 3 (36:47):
He's only twenty seven. What a weapon. Like maybe we
should start doing like he's on the money Money Diary. Yeah,
but like, don't get me wrong, Like I'm just pervy.
I want to know what you've got. I don't want
to listen to a whole podcast about a talking about
his wealth, Like I can't learn anything from that order
to talk to his girlfriend, you know.
Speaker 2 (37:04):
Yeah. So he kind of has been a really positive
influence on me because I kind of didn't really think
that it was sort of normal or possible for people
to have It's probably not normal, but to have that
sort of money when they're so young and you know,
be able to save so well and not be frivolous
(37:24):
with money, and like we're super super open about our
money together.
Speaker 4 (37:29):
Like what I would say, I'd be like, oh.
Speaker 2 (37:31):
My God, I've got fifteen thousand dollars and I'm like,
now I've got twenty thousand dollars and yeah.
Speaker 3 (37:37):
Yeah, And you say it's not normal, And don't get
me wrong, it's not because normal would be defined as
something that like most people do. Yeah, but it's not unrealistic.
So it might not be the norm, but it's not impossible.
And I think that that's what's just so cool is
that these things are possible for us, and sometimes we
just need to hear stories of other people doing it
to be like, wait, that could be a possibility for me.
(37:58):
That's crazy, Like what could I do to step towards that?
And I mean, you know, there's a lot of and
I'm going to use the word privilege again, but privilege
involved with that because obviously you have to be in
the right place and have the right family to be
able to take that job, because otherwise, like that job
isn't just gonna you know, turn up, Like there aren't
that many jobs floating around where I'm like, well, if
(38:18):
you just move regionally, like that's not how it works,
but like what other things could you do? Like could
moving regionally and doing a job like yours beat an option, Like, yeah,
just there are so many opportunities out there and I
just love that we get to learn about them through
people like you on our show, Like what a privilege?
Speaker 4 (38:36):
Yeah, and like it rents a lot cheaper if you
move regionally.
Speaker 2 (38:41):
Obviously supermarkets are more expensive and things like that are
more expensive, but just day to day life I think
works out to be cheaper. And you know, there is
a lot of incentives for people to move regional. Like
I have a few friends who are teachers and they
get paid a fair bit more than people who are
teachers in CBD and things like that. So yeah yeah,
(39:03):
and like you know, you can buy a house for
three hundred thousand dollars.
Speaker 3 (39:07):
So see that's crazy to me. Like not actually because
like I finance those houses day and day out, but
just like the idea that it's as accessible as it
is nowadays.
Speaker 2 (39:17):
Yeah, I love it.
Speaker 3 (39:18):
It makes me so happy. Yeah, money dost And what
do you think your worst money howbit is.
Speaker 4 (39:22):
Honestly my spending guilt.
Speaker 2 (39:24):
It's really really bad. Like I'll think on a purchase
for so so long, and like if I want to
buy a dress, I'll send it to all my friends
and then weeks later, I'll send it to all of
them again and I'll just like just get it, like,
come on.
Speaker 3 (39:38):
That's definitely you putting more than twenty four hours between
you and your spending.
Speaker 2 (39:42):
Yeah, and I just feel like guilty. And then I
think sometimes I don't think my friends understand that I
spend money on things I value and not on things
that I don't value, you know, So I don't know,
I don't want to go to the pub every night
of the week and get like a thirty dollars meal
because that's not something that I value and want to
(40:03):
spend my money on. Whether I might be like, oh,
you know, don't be cheap, like you can afford it,
and it's like, just because I can't afford it doesn't
mean that I want to spend my money on.
Speaker 3 (40:12):
It exactly, And like we are all here spending money
in line with our values. And in your submission you said,
I just think I might always be the cheap friend.
Speaker 2 (40:21):
Yeah.
Speaker 3 (40:22):
What does that look like though? Like are you actually
being the cheap friend or are you being the smart
financial friend?
Speaker 2 (40:29):
I think I'm being maybe a bit too savvy sometimes,
but not really like there's genuinely nothing that I've not
bought that I've really regretted, you know. So I think
it's just their perception of me probably being cheap and
not wanting to spend my money on lots of different things.
(40:51):
You know, if we go away and I'll always look
like the cheaper hotel option because it's just a place
to stay. It's not something that I want to go
big on. But yeah, I just do worry that I will.
I don't know. I just feel really really guilty spending
money sometimes and I think it's not good.
Speaker 3 (41:12):
Yes and no, maybe your worst money habit is your
mindset around money still, because I think you can still
be the cheap friend and enjoy your friend's company and
be part of the action and be part of what's
going on, because you know that's me. Sometimes I'll be like, oh, oh,
come out. Yeah, but I don't really want to buy dinner,
(41:32):
like I'm maybe not feeling it or I just don't
want to eat there or whatever it is. Yeah, and
I think that that's absolutely fine. But also you're probably
teaching your friends some really good money habits, so they
are welcome.
Speaker 5 (41:44):
Yeah.
Speaker 4 (41:44):
I do love talking to my friends about money.
Speaker 2 (41:46):
Sometimes I find it quite frustrating because I can see
what they're doing, and then they'll complain about not having money,
but I'll like have a bit of a background knowledge,
being like, well, I know why you don't, but it's
not really my place.
Speaker 3 (42:00):
No, No, you can't be like, hey, did you realize
that you're the problem?
Speaker 2 (42:04):
No exactly. So yeah, sometimes I do struggle with that,
or I think sometimes too, I compare myself to people
a lot, like where we live is quite a rich
farming area, and so I see a lot of wealth around,
and I see a lot of like rich people around,
you know, like helicopters, planes, brand new cars and things
(42:28):
like that. Wow. Yeah, so I see that, and I
think I wish that was me and comparing myself to them,
but you know, they've got intergenerational wealth backing them up also,
like they do obviously work very very hard for what
they have. So I think sometimes I compare myself.
Speaker 3 (42:46):
You're also a baby, Like, let's remember that you're only
twenty five, and like the way that you're setting yourself up,
you're going to be part of that wealthy group at
some point in the future, Like you're just at a
different chapter, babe, Like, don't.
Speaker 4 (42:58):
Stick ahead, you know, I do need to do that.
Speaker 2 (43:01):
Like, oh, sometimes I talk about like getting because I
need to get a new car, but I'm not really
going to but I think, oh, like I don't need,
you know, a brand new three hundred series because I
don't have kids.
Speaker 3 (43:13):
So no, no, but like it's nice to look.
Speaker 2 (43:17):
Maybe when I'm like thirty five and have kids, then
I can get the mom car. But I don't need
the mom car right now.
Speaker 3 (43:23):
No, And do you know what, Like as I say
to all of my friends who want the mom car
when they're not a mum, I'm like, now I'm a mom,
and my car is arguably not big enough. Like I
crave the little car. Like I saw a Mini Cooper
the other day and I was like, how cute would
that be to get around town and like you know,
zip in and out like at the moment my car.
You know, I just feel like we all want something
(43:45):
that we don't have, and like I think we need
to remind ourselves of that because it's just so easy
to want something other than.
Speaker 2 (43:53):
What you have. Yeah. So definitely, like comparing myself to
you know, people who are in completely different situations in life,
life is probably not great to do.
Speaker 3 (44:02):
Well, let's reframe it and see if we can use
them as inspiration to build more wealth.
Speaker 2 (44:06):
Yeah, definitely, Money Diarist.
Speaker 3 (44:09):
At the start of the show, you gave me a
money grade. Now that we've spoken, do you think that's
still reflective or do you think it would change it
a little bit?
Speaker 2 (44:18):
Nah, I think I'd probably stick with the B plus.
There's a few things that I need to sort of
fix with my mindset. I think around spending la. I
think I'm good with money, but I think the spending
guilt is probably not great. And then yeah, I know
I saw that personal insurance.
Speaker 3 (44:39):
I mean that would definitely take you up to an A. Yeah, absolutely,
and that's an easy win. Yeah, I won't argue with you.
I feel like we're all on our own journey. But like,
comparison is literally the thief of joy, and I think
the thing that we need to remember is that even
those people that we're comparing ourselves to, they're comparing themselves like, yeah,
just the idea, Yeah that you know, they might be
(45:01):
flying off in a helicopter, that's great, They're looking at
their friends who have the better helicopter, and like, we
need to be really happy with what we have because
from my perspective, How on earth are you going to
be happy with more if you're not grateful for what
you already have? Yeah, And like I try to ground
myself in that a lot, because I'm like, no, no, no,
(45:22):
Like I'm really grateful for where I am and what
I have, because how on earth are we going to
be excited about the next thing? And like, girlfriend, like
let's just like pretend tomorrow you get a helicopter. Amazing,
but like, one, what the heck are we going to
do with it? True, if we're not grateful for what
we have at home, we're then going to get the
helicopter and then be looking for the next thing.
Speaker 2 (45:42):
Yea.
Speaker 3 (45:42):
And like there's something to say about people who were
just full of gratitude, and like I'm just always looking
at like the mindset of other people. And now I
feel like and again, comparison is the thief of joy.
I have to keep reminding myself that. But like I'm
now comparing myselves to people who while like, oh I'm
so happy, I'm so fulfilled, I'm so this, I'm so that,
(46:03):
And then I'm like I want to be you too,
So like I feel like you never escape it, but
you've got to consistently remind yourself, no, that's not where
I want to be. No, that's not where I want
to be, and like remind yourself that you're a bad
us too.
Speaker 2 (46:14):
Yeah. Yeah, I think I need to be more grateful
for the season that I'm in at the moment and
appreciate what I do have and how fortunate I am
compared to other people, but also acknowledge that I did
make sacrifices and like work hard to get to where
I am. Yeah you did this?
Speaker 3 (46:33):
Yeah, how cool money, Diris. It has been an absolute
pleasure having you on the show, and I just know
so many people are going to be as perfy on
what cattle genetics looks like as I am, but also
about your whole money story, like genuinely so impressive. So
thank you so much for spending so much time with me.
I really appreciate it.
Speaker 6 (46:51):
It's the advice sheared on Cheese on the money is
general in nature and does not consider your individual circumstances.
She's on the money exists purely for educational purposes and
should not be relied upon to make an investment or
financial decision. If you do choose to buy a financial product.
Speaker 3 (47:13):
Read the PDS TMD and obtain appropriate financial advice tailored
towards your needs. Victoria Divine and She's on the Money
are authorized representatives of Money Sherper Pty Ltd ABN three
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My name's Tatasha Bamblet. I'm a proud First Nations woman
and I'm here to acknowledge country t Glenn Young Ganya Niana,
kaka ya Ya bin Ahaka Nian our gay In Nimbini,
yakarum jar Doumayagumika Umaga Ihowaka Nile Waman damon Immalan Bumba
bang gadaboma in and now in Waka ghana on yakarum
jar Watanadaa. 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 (00:45):
She's on the Money. She's on the Money.
Speaker 3 (00:51):
Hello, and welcome to She's on the Money, the podcast
that LEDs you be pervy about other people's money stories
for educational purposes, of course. Welcome back to another one
of our money diaries, brought to you by our friends
at Sky Wealth, where I get the absolute privilege of
sitting down with one of our incredible She's on the
Money community members to talk all about their journey. Let's
(01:12):
jump straight in because this week I got a message
and it sounded exactly like this. Hi, She's on the Money.
When I say I was flat broke at UNI, I
mean it. I carried that into full time work and
after getting a car loan in December twenty twenty four,
I felt overwhelmed and not in control. So I scrolled
all the way back to episode one and I just
(01:32):
started again. September twenty twenty five, my twenty five thousand
dollars carloan was completely paid off on a grad salary,
and in the last five years I've gone from living
in Melbourne to now living on a farm with my
boyfriend in country New South Wales. I have savings, I
have investments. I have plans and dreams, as well as
a partner with four investment properties with plans for us
(01:56):
to get one together or me by into his. She's
on the Money transfer formed my life and has seen
me through every season. However, going from flat broke to
having money, I now have developed terrible guilt and dread
around spending, and I worry I'll be that cheap friend forever.
Money Diarist, What a journey, what a privilege, but also
(02:16):
what a worry, Like you're not going to be the
cheap friend forever?
Speaker 2 (02:19):
What the heck? I know, it's just the gilt is insane,
Like now that you have money, you don't want to
see it go, and seeing your bank account grow up
and up it just gets a bit addictive, and then
seeing it go down you're just like, oh my god.
Speaker 3 (02:33):
That's also such a like one e like going from
flat broke car loan all of the stuff that makes
you feel financially stressed to being like, not only did
I get my stuff together, I gotta be a man
that had assets.
Speaker 2 (02:48):
Yeah.
Speaker 1 (02:48):
I know.
Speaker 2 (02:48):
He was actually a really big part in me sort
of turning my money so around because I actually used
to listen to She's on the Money in twenty twenty.
I first started way back when we were all picked
up at home literally because I think sort of what
happened was I moved away to UNI when I was nineteen,
so twenty twenty, like quickly realized how hard and expensive
(03:12):
life is, and then I moved back home for COVID,
and then once I realized we kind of weren't going anywhere.
Speaker 4 (03:19):
I got a job and I ended up getting on
job Keeper.
Speaker 2 (03:24):
And the job keep that I was put on it
was actually funny because the two weeks that I started
my job was the two weeks I had on UNI holidays,
and it was also the two weeks where the government
determined whether you're a full time like casual worker.
Speaker 3 (03:39):
So I got on the top dollar okay, but like
money win, like good things happen to good people, baby.
Speaker 2 (03:46):
Yeah. So and then I was kind of into Hot
Girl Walks podcasting, and I was like, I have all
this money coming in now I kind of need to
figure out what to do with it. So I always
had that sort of financial knowledge in the background, but
one when I went back to UNI, I was like,
I just kind of want to live my life a
bit and worry about money later. So I said, see
(04:08):
you later to ses on the money for a little bit.
Speaker 3 (04:10):
But we're always here, like you can come back, like
if you want to go to me, that's fine, Like
I actually don't mind if you guys want to go
and then come back later. Like I'm kind of like
your parents, like I don't mind. Go have a fun time.
There's always a homeback here for you. You're always welcome.
Speaker 2 (04:25):
So I always knew what I should be doing, and
I had that like a little bit of knowledge in
the background. But yeah, I just was like, no, I'll
think about that later.
Speaker 3 (04:36):
And now you've gone, I want to go home. And
then you've come to see me again. And I welcomed
you with open arms and you got out of debt.
Speaker 2 (04:45):
What the heck this really like? I was so overwhelmed.
I remember I was sitting at work and I was
thinking the answer would being I'd need more money because
I was straight out of UNI. I actually ended up
getting quite a high paying job. I was on eighty
thousand with a ten percent bonus, just straight out of Ynny,
I know, but it was very corporate and I wasn't
(05:05):
enjoying it. So an opportunity to come up to move
to a more practical, hands on job. But I dropped
to seventy thousand dollars a year, so it was quite
a big change. And I remember sitting there at work
after I got this loan and I had it for
about a month, and I was thinking the answer was
just more money, but I just did it. I needed
to figure out the money I had so I just
(05:28):
literally went back to episode one, and.
Speaker 3 (05:30):
I'm very glad that you did thanks to the downloads.
Speaker 2 (05:33):
Babe.
Speaker 3 (05:34):
Tell me, if I asked you to give your money
habits a grade from A through to F, what would
you say your money habits were? Oh, maybe like a
B plus love love Let's learn more about it. What
is your money's story? Like, can you tell me a
few things that have impacted it?
Speaker 2 (05:50):
Yeah, So I was really thinking on this, and honestly,
my childhood not that impactful in terms of money story stuff,
Like I think it was deep down, you know, like
my parents really did a very normal suburban life. You know,
we'd go on camping holidays, but a holiday to the
(06:10):
Gold Coach was a big deal, you.
Speaker 3 (06:12):
Know, so the same we did it once and we
drove and like that was like the biggest thing ever.
Like I still remember it, Like, yeah, I adore that
other people got to travel overseas, but yeah, that to
me still feels fancy because of the way that I've
grown up.
Speaker 2 (06:29):
Yeah, and even thinking when people take like little kids
on overseas holidays, I'm like, why are you doing that? Girl?
Speaker 3 (06:34):
When my son was four months old, he was on
a plane to Italy, like what the hell? Like the
whole time I was like talking to this four month
old on a plane, I'm like, you don't know how
good you've got it, Like you don't know, you don't
get it, no.
Speaker 2 (06:46):
Living the dream. But my parents were always very anti dead,
you know, like I was always known to not get carloons,
which is bit ironic because I got one, but I digress.
And my mom, like she had a credit card, but
you know, it was always paid off, it was never
really a thing. And then my mum was actually fully
in charge of our finances, you know, like my dad
(07:09):
wasn't allowed a debit card because he would go a
bit too crazy with it. So I think seeing that
my mom was kind of always in charge of money,
and I think Mom came from a more scarcely mindset
in terms of money, you know, okay, Like she kind
of did have a bit of guilt around spending money,
and I didn't really notice it until I was older
and became educated around money. So it's funny looking back
(07:30):
making that connection now. But honestly, I would say the
most impact on my money story was when I went
off to UNI, so I moved from Melbourne to country
New South Wales in twenty twenty. I was fresh nineteen.
Speaker 3 (07:45):
That's a massive change.
Speaker 1 (07:47):
I know.
Speaker 5 (07:47):
I don't know where I got the audacity, but looking
back at it, if we borrowed it from a medioc
middle age white man, probably, But looking back at it now,
I was like, I don't know if I could make
that move, like that's pretty ballsy.
Speaker 4 (08:00):
I remember my parents dropped me off at UNI and
I was living.
Speaker 2 (08:03):
With twenty five other people with like one kitchen and
things like that, and I was on campus and they
just like said goodbye, and I was just sitting in
my room alone and being like, okay, now.
Speaker 3 (08:12):
What Yeah, Like you'd done so much planning up until
that point. Yeah, well be telling everyone, yeah, I'm gonna
go to UNI, I'm going to do this, I'm going
to do that, And then you're sitting in the room
and you're just like, do I clap?
Speaker 2 (08:25):
I was like, I better go downstairs and make some friends.
But when I moved, it was it was never a
question of if my parents were going to pay for it,
like I always knew I would, like I moved out
and became fully financially independent, it was never I never
even considered my parents paying rent for me or giving
me regular money, Like it just wasn't a thing that
(08:47):
I thought was normal, But it was when I went
to UNI. I remember in one of my I was
in a sharehouse and I was the only person who
actually paid their own rent. All of my friends' parents
were paying their rent, and I don't know, I think
it was potentially because you know, they were from you know,
(09:08):
farms and countries and stuff like, and from the country,
so they didn't have the option to stay at home
and go to UNI, whereas I totally could have just
stayed at home and commuted to like Melbourne, UNI or
something like that if I really wanted to. But I
think that sort of really impacted me because I never
really understood that a lot of people kind of were
(09:31):
getting leg ups in life, and that I was sort
of I don't think I was ever disadvantaged, because I
never really went without in my childhood, but I just
never knew that it was a normal thing for people
to give their kids lots of money.
Speaker 3 (09:46):
Neither did I. I remember getting to UNI and like,
I was in a very lucky position where I was
gifted a car from my parents, but it was my
mum's old old car, and like I was still having
to pay for it everything on that. Dad was like,
you can have your mum's old car, because like we
could sell it for five hundred dollars. Like it wasn't
like a, oh, mom's got this beautiful Mazda three, you
(10:09):
can have and we'll just get a new one. It
was literally like an old car that when I turned
too hard to the left, the gas system stopped working.
Like like I was just grateful to have it. And
I took over all of the payments on that, like
insurance and like the Red Joe and stuff, and I
thought I was living. And then I got to UNI,
and I was like, what do you mean, Like everyone's
(10:31):
parents just quote gave them a car, and what do
you mean your parents are paying for this beautiful apartment
in the city, Like I'm hustling in a sharehouse same
as you. Like I'm hustling in a sharehouse. And I
remember my rent was like two hundred and fifty dollars
a week, like that was chaos. And at the time,
I was sharing with a boyfriend because that made it
more economical. And I remember thinking I have to move
(10:52):
out with my boyfriend because otherwise this is just not
going to work, Like this is going to be crazy.
Speaker 2 (10:56):
Yeah, yeah, I know, I yeah, I kind of really
realized it happened, and especially going to like a country Uni,
there's a lot of sort of wealth in different ways.
Like I don't fully understand how all the tax rightoffs
and stuff work, but I do know in agriculture that
there is a lot of tax rightoffs in places, so
(11:18):
you know, financially, it made sense to buy a brand
new high Loux and give that to your kid. But
I don't know, I don't know.
Speaker 3 (11:26):
Look, I don't know how we make it work, but
if that works for them, I am genuinely very happy
for that. A little bit envious, but genuinely happy. Like
I just remember that was really eye opening for me.
I remember being like, oh, okay, oh you just what
do you mean you just have like a copy of
your mum's credit card. That's crazy to me, Like if
(11:47):
I'm out of money, go I'm out of money?
Speaker 2 (11:49):
Yeah yeah no, And I think that I'm I'm really
grateful that my parents didn't really give me anything, to
be honest, because I don't think that I would I've
ever been in the position I am now if I
wasn't flat broke like in my final year of UNI.
I actually ended up going out of sas like twice
and definitely couldn't afford them, but made it work. And
(12:13):
so yeah, like I was slipping on campus and I
couldn't pay my rent, so I was just really hustling.
I couldn't even I would love to know what was
the lowest my bank account went to, because I wouldn't
even be surprised if it was like one hundred dollars
or something like that, like probably lower.
Speaker 3 (12:29):
Oh, I overdrew my bank account. I remember the day
that I learned that you could overdraw a bank account
because I didn't mean to, and I got like a
notification in my emails to be like, oh, your bank
account has been overdrawn, and I logged in and I
was like, what do you mean overdrawn? What is overdrawn?
And then seeing that my bank account was negative, I
was like, oh, that's crazy. I didn't even know I
(12:49):
had a credit card, and like, I was so like
financially illiterate at that point. I thought that my debit
card had turned into a credit card and then I
was going to get into heaps of debt and obviously
that's not great, but like, yeah, it was just it
was crazy to me. So yeah, I went't full negative baby,
like maybe you did too.
Speaker 2 (13:07):
Yeah, I didn't know that debit cards could go into
the negative, so it's probably good I didn't know that.
But I think it's funny because since I did listen
to ses on the Money in twenty twenty and into
twenty twenty one, I did have that financial background knowledge,
so like I knew not to get a personal loan
to go on holidays. I knew not to do all
these things, so I didn't even know people got personal
(13:29):
loans for holidays. When I found that out, I was like, God,
that's insane.
Speaker 3 (13:35):
Also so nice that you're kind of like out of
the loop on that, because I think if you are
at UNI, sometimes it's better to not know that those
things exist, because if you do, you might go, oh, well,
if everyone else is doing it, maybe i'll do it.
Speaker 4 (13:52):
Yeah.
Speaker 2 (13:53):
So I kind of went on to just being broke,
and then I ended up getting a job pretty well
straight out of UNI, which was great, and I did
end up finally making money there, and it was crazy
because everyone knew that I had no money during UNI,
like I was working heaps and it was kind of
a funny thing.
Speaker 4 (14:12):
But then I ended up getting a job and it
ended up being all well.
Speaker 2 (14:15):
But then my first car was only worth like two
and a half grand, like I bought it, and in
September of twenty twenty four, I got rear ended and
I was completely fined and my car was actually not
that bad, but the insurance company said that it's not
worth fixing it. So I just ended up getting paid
(14:37):
out for that, which I think I'm geting like three grand,
so nothing crazy, but more than I paid.
Speaker 4 (14:42):
So I needed a.
Speaker 2 (14:44):
Car money in exactly, I needed a car, and I
didn't really have enough money to buy. I probably maybe
had like ten grand in my bank account then, which
was pretty good, but I wanted a nicer car because
during the time that my car was yetting a the
insurance company gave me a car and it was like
nice with Apple car plane stuff like that, and I
(15:04):
was like, oh, this is cool. So I ended up
getting a car loan and I got it through my
bank because I kind of thought, like my parents kind
of led me that way. They said, oh, don't go
through like a dealership, don't get finance, like, do it
through your bank. And then they kind of had the
understanding that it would be good for me to borrow
money because then it can show the bank that I
(15:26):
can pay it back.
Speaker 4 (15:27):
But then after listening to Chese on the money, I
know that's not true.
Speaker 3 (15:31):
But also you don't know what you don't know. And
I feel like so many of us, like here from
the US what goes on in terms of like lending
and credit scores and stuff. So it makes sense like
if your parents were like, oh, girl, this is what
you should be doing, You're obviously gonna be like, yeah, okay,
that makes sense, let's do that. And then obviously it's
(15:53):
not the right decision and that's okay, But like sometimes
we have to make some mistakes to get on the
right track, right, And it sounds like you've done exact Yeah,
So tell me what do you now do for work
and how much money do you earn.
Speaker 2 (16:04):
So I work in agriculture, I would say my job
is I do a lot of the data analytics for
farms and look at their genetic data and also how
their genetic data. Yeah, so genetics play a huge role
in farming and selecting, Like I'm working with cattle and
(16:25):
selecting bulls that have the traits that you want, So
things like intramuscular fat, like you can select for that
or yeah, so it's all linked to genes. Farming is very,
very smart, Like there's a full blown geneticis that the
company I works for have and they do all their
genetics selections, Like bulls can go for like hundreds of
(16:49):
thousands of dollars sometimes.
Speaker 3 (16:50):
So really, yeah, this is one of the reasons why
I love chatting to people on money Dries because like,
you guys have such a job, but like, what do
you mean you work in genetics for agriculture. Like, don't
get me wrong. People are probably listening to this and
they're like, Victoria, you idiot, Like of course they do,
(17:10):
but like this is just not something I had comprehended,
especially coming from like my grandparents were sheep farmers.
Speaker 2 (17:16):
Yeah, so like I didn't know that.
Speaker 3 (17:19):
Like they were just like lambs. If one gets rejected,
you put it in a box by the fire, and
we have a canara in the kitchen and that's how
we help our you know, lambs grow up. That's about
as far as it got for me. So how does
this evolve and what does that look like as a job?
Speaker 2 (17:35):
For you. So we get these things called estimated breeding
values from animals and they have all their scores on
how they go in terms of different traits and things
like that, and you can look at them and select
traits that you want, and you can also compare them
to like the female you're using. And so each sort
(17:55):
of company has different goals in terms of what they want.
So you can even select for docility, so if you
want a more calm bull, which are easier to work with,
so a lot of people select for that, or you know,
if they want a bigger frame, then they can select
for that.
Speaker 4 (18:11):
So we have that.
Speaker 2 (18:13):
But then I also look at things like average daily gains,
like what they're eating, how much weight they're gaining, how
long they've been eating it for. So yeah, just look
at excels a lot. But yeah, it's a huge market.
Like they even do IVF and embryo transferring cattle. It's crazy.
Speaker 3 (18:32):
That is insane. Also, I want to know, do you
know how much that costs? Like, is it also ten
grains around?
Speaker 2 (18:38):
No? So this company that I know, it's three hundred
dollars per osite collective, So.
Speaker 3 (18:47):
I mean it does make sense. There's probably less like
you know if we lost an embryo, you guys are like, oh,
so right, just do it again, because it's cattle as
opposed to your literal lives. But that's crazy the difference.
Speaker 4 (19:02):
Yeah, and it's pretty crazy.
Speaker 3 (19:03):
And to do all of this, how much money are
you making?
Speaker 2 (19:07):
So it's actually really cool. With my job, I am
full time, but I get paid hourly, so I'm on
forty dollars an hour.
Speaker 3 (19:15):
But well that's good.
Speaker 4 (19:16):
Yeah, So I think I ended up doing about forty
hour weeks.
Speaker 2 (19:20):
So I did eighty hour four nights, and so it
ends up to be around eighty four thousand dollars a year.
So I was quite happy with that because I recently
changed roles and I finished my probation like a few
weeks ago, and they gave me a five dollar pay rise.
Speaker 4 (19:35):
So I was on thirty five and now I'm up
to forty.
Speaker 2 (19:38):
I love that.
Speaker 3 (19:38):
And from the way that you're talking about your job,
is it safe to assume that you really like it?
Speaker 2 (19:43):
Yeah? I really like it. I kind of came from
a not so happy job, Like it was a really
cool job I used to have, but I was really
really unhappy in it, and I am in a workplace
where I feel respected and valued and there's a great
work life balance, you know, So I am really happy.
Speaker 4 (20:05):
Funny actually though, because I was a community DM like
a few months ago.
Speaker 3 (20:11):
Were you actually?
Speaker 4 (20:12):
I love that it was the one about how to
not burn a bridge when leaving a job.
Speaker 3 (20:18):
Oh how did that go?
Speaker 2 (20:19):
Yeah? So I ended up sticking it out for the
busy period and it was hard because my boyfriend where
I live with him now, it's a pretty isolated place,
so and I knew my next job would be where
he lives, so I was quite limited on options. And yeah,
I ended up sticking it out, and I actually spoke
to one of my other bosses and he gave me
(20:41):
a reference, even though I didn't end up really needing one,
and he was actually said, or maybe don't tell your
other boss, just give him the one month notice. And
I ended up telling my boss like three months in advance.
So yeah, I left, And I'm happy, I.
Speaker 3 (20:57):
Was going to say, and did it all work out?
Because sometimes it really like, you know, you don't want
to burn a bridge, but you also like need to
move on and do what's best for you, but it
just feels so awkward, especially when you're like trying to
keep everybody happy.
Speaker 2 (21:12):
Yeah. I think it was a pretty common question people
might have because if you were in my position where
it was really only your first time working in that industry,
you kind of future employees will want a reference from
a company that you worked for in the industry, you know,
And if you remember that, absolutely, and you're trying to
(21:32):
leave without being weird about it.
Speaker 3 (21:35):
Absolutely, And is there anything in that process that you
would do differently, Like if someone listened to that and
was like, oh, like that's my situation, what would your
advice be.
Speaker 2 (21:45):
Yeah, I would say go to someone who's trusted and
a person that you trust at work who understands you.
Speaker 4 (21:53):
And yeah, I was lucky that I had another boss
who understood.
Speaker 2 (21:57):
Me well, but I know people who are working with
they used a colleague that was in a similar role
to them, maybe one step up. So yeah, it doesn't
necessarily have to be your direct boss as a reference,
which I didn't really know. It can be anyone. Yeah,
that's true. Yeah, just find someone who is trusted and
(22:19):
someone who you feel like isn't going to tell everyone.
Speaker 3 (22:24):
Yeah, And that's a really good point as well, and
something that I know I didn't say on the podcast,
but like, what a good suggestion to go and chat
to someone in your workplace that you do genuinely trust, Yeah,
who can give you some advice because like, you know,
if I ask my husband about stuff to do it work,
like he knows of the people, but he's never worked
(22:46):
with them. Yeah, so he might be like, oh, yeah,
just tell her she seems chill. And then like you
go and talk to somebody else and they'd be like, oh,
maybe don't do that this week because they're really stressed,
Like how about you wait till here or there, Like
that's the insight that we want.
Speaker 2 (22:59):
Yeah, yeah, So going to someone that I trust had
definitely made it a lot easier.
Speaker 4 (23:05):
But I was very excited to quit a door.
Speaker 3 (23:08):
All right, let's go to a really quick break and
on the flip side, I want to talk to you
about investments. I want to dive a little bit deeper
into that debt that you mentioned you used to have.
We're going to talk about personal insurances and then your
best and worst money habits. So guys, don't go anywhere
money diaries do. We are back and I want to
(23:29):
dive straight into investments. You said earlier in the show,
I used to listen to She's on the Money three,
Shees on the Money in the bin, because like, I
was living my best life and I've come back.
Speaker 2 (23:39):
So what is your.
Speaker 3 (23:40):
Investment journey looking like?
Speaker 2 (23:42):
So back in the day, I did have RAIS and
I just had the automatic investments, and then when I
went overseas, I just took it all out. I think
it only got to like three hundred and something dollars.
But I have investments now with Chaesis and I started
and January, and I've got IVV, which is just the
(24:04):
index for the US. I had VAS which is just
the Australian index, and then I have VIE, which is
the Asia index but excludes Japan.
Speaker 3 (24:15):
You really like a vanguard moment, I'm back, and then.
Speaker 2 (24:19):
VAQ, which is the European index, and I also have NAB.
Just it's actually the reason why I got NAB is
because I was listening to an episode. It was from
like twenty twenty three, and you used NAB shares as
an example, and you're.
Speaker 3 (24:34):
Like, oh no, Like don't get me wrong, Like you're
allowed to own NAB, but like I always use it
as an example, and I'm always like thinking in the
back of my head, I'm like, I hope people don't
take that as a recommendation.
Speaker 2 (24:45):
No. I didn't take it as a recommendation. I took
it because at the time, NAB was worth twenty five dollars,
and then I looked at it, I was like, oh,
I wonder what it's worth now three years later, and
it was worth like forty two. So I was like what.
Speaker 3 (25:01):
I was like, it's a banking share for you. Like, yeah,
they called like blue chip shares, and that doesn't make
them better. No, it means that they're like tried and
true and tested and kind of really boring, and that's okay,
but like we kind of love that they're tried and
true and tested and boring. Like yeah, when it comes
(25:21):
to my investment journey, I want it to be boring.
Speaker 2 (25:24):
Yeah, yeah. Track. Well, that's why I kind of went
for all the indexes because I was like, I'm going
for a long term.
Speaker 4 (25:31):
At the moment, I have one thousand and seventy one
dollars invested.
Speaker 3 (25:36):
Look you go, you cracked your four figures already.
Speaker 4 (25:39):
You know, and it split pretty well evenly.
Speaker 2 (25:42):
I just kind of I was doing one hundred dollars
a fortnight up until I got a pay rise, and
I'd just do like twenty five twenty five to twenty five,
and then I also have the roundups on and anytime
the roundups would be twenty five dollars, it'd go into
chaseas and that's when I would buy nap with And yeah,
so that's a dollars now. But it's kind of grown
(26:02):
a bit because when I bought it was when everything
went down, so which I knew was money win. I know,
I was like, Wow, the SMP five hundreds down by
like seven percent, let's buy heap.
Speaker 3 (26:17):
See, that's what we love to see. And a couple
of months ago, the S and P five hundred was
down again and I was thinking like, oh, maybe I
should pick up some more. And then I was like
trying to take my own advice and not try to
time the market. So I tipped a little bit, and
now I'm like, should have done more, and we all
do that.
Speaker 2 (26:35):
Yeah, yeah, So I think now I've sort of put
it up to like one hundred and fifty a fortnight.
Speaker 4 (26:40):
I might put it up to a little bit more,
but we'll see.
Speaker 2 (26:44):
But yeah, I just consistently do like two hundred and
two hundred dollars a Fortnite and I just had my
roundups on and then I also have my Super which
I checked is at twenty three thousand and fifty four dollars.
Speaker 3 (26:57):
Hey, that's good.
Speaker 2 (26:58):
And how old are you? Twenty five?
Speaker 3 (27:00):
Your twenty that is good?
Speaker 2 (27:02):
Look at you. Tracking my old corporate job fresh out
of UNI for some reason, made a lot of additional
contributions to Super, not out of my pay or anything,
but just.
Speaker 3 (27:12):
We will take it. Like, I'm not going to complain
about that ever. Yeah, now talk to me about personal insurances.
You are only twenty five. But is this something that
you've considered, something you've organized? What does that look like
for you?
Speaker 2 (27:24):
Yeah?
Speaker 4 (27:24):
So I actually had a call with sky Wells a
couple of weeks ago, because.
Speaker 3 (27:28):
Every money does recently like this is not paid by
the way, like we do not pay our diarists or
pick them if they are with skyweld. But I swear
everyone that I'm getting recently is like, oh yeah, I
called them, and I was like what.
Speaker 2 (27:41):
Yeah, yeah, No, I just called them and I kind
of spoke to them about it because I actually don't
have any insurances in my super.
Speaker 4 (27:49):
And they're like, all right, that's weird that you should
talk to your super company about that, because are like
normally the way insurances kind of work is you have
it the whole time, or when you turn twenty five,
they automatically kick in.
Speaker 2 (28:00):
Yeah, And so they kind of talked to me a
little bit about like what they could do, and I
do need a follow up with them because I think
I will actually end up going with them, because I
didn't know that you pay like your insurances is set
up in your super and like your super money pays
for it as far as I'm aware. And I ended
up calling my super company and they're like, basically, when
(28:22):
you were nineteen, we sent you a letter saying if
you don't reply to this letter, we're going to cancel
your insurance. And I was nineteen and living in New
South Wales, and I went to my parents' house, so
I didn't get it. I think it was just, yeah,
their way too sneakily stop giving people insurance. And I
was talking to the lady on the phone. She's really nice,
but I was like, damn, like a nineteen year old
(28:44):
had to make you put that in the hands of
a nineteen You.
Speaker 3 (28:47):
Don't understand it at that point, And even if you'd
gotten that letter, you would have been like, well, I'm
not using that insurance, like I'll probably cancel it anyway whatever, Yeah,
like I don't need that. Yeah, but why am I
paying for it? Like you're taking my super money? And
that would have been at nineteen my mindset as well. Yeah,
they did that to so many people. And the reason
(29:09):
they did that to people was because you would have
had a really low balance at that point in time,
and they, like the government actually mandated it. So it
wasn't your super company being rude, but they were told,
if they have under a certain balance, you need to
let them know that they have to choose this because
otherwise the insurance premiums would have eaten away at your
super and then you would have had no super but
(29:30):
you would have paid for insurance. And so I get it,
but I don't like it.
Speaker 2 (29:35):
No. Yeah, I was like, oh it's a bit rough,
so currently not personally insured, but thinking about it.
Speaker 3 (29:43):
Oh, good girl, I like to hear it. Now, tell me,
what do you think your best money habit is.
Speaker 2 (29:49):
I would say my best money habit is I'm very
disciplined with money, Like I could very easily go without,
you know, so if I have a purchase, I'll put
three between it, like I'll really really think about it.
And then I think I have really really good structures
with my pay I can tell you how I split
(30:10):
all my money if you really want to.
Speaker 3 (30:12):
And of course I want that, and like the pervier
the better on this show, girlfriend, you should know.
Speaker 4 (30:18):
When I listened to money diaries and I don't say numbers,
I'm like, oh, come.
Speaker 2 (30:21):
On, yeah.
Speaker 3 (30:22):
But I never also press them for some of that
false information out of you. If like people have given
me the privilege of asking them about their situation, I'm
not going to be like, well, why aren't you telling
me more? Yes, give us the numbers and for any
future money dirests. We love to see the perviest of bits.
Speaker 2 (30:38):
So my most recent pay I grossed three two hundred
dollars and my net was two four hundred and thirty four.
And so we're very lucky. With my partner's job. So
him manages a farm, so he's off his own farm,
but he manages this farm because his parents are still
at home, and so so we get a free house
(31:01):
and free bills, so I don't eat money win, so
I don't have any rent I don't have any bills,
like in terms of housing and things like that. So
my fixed costs for like rent and stuff is one
hundred and forty five dollars a fortnight.
Speaker 3 (31:16):
Okay, Queen, I know this is like so incredible, but
also for me, I'm looking at it going Queen, if
you are not making hey while the sun is shining, like,
I'm going to be pretty mad at you.
Speaker 2 (31:27):
I know. So yeah, I definitely do. So, yeah, we
don't have any rent, we don't have any bills. Like
my partner he has his investment properties, but I'm not
a part of them, so I don't have any mortgages
or anything like that at the moment. And then I
give myself like an allowance of four hundred dollars a
fortnight to pay for like yeah, it's more so now
(31:47):
just kind of fuel and spending money that I have.
And I kind of work from home most of the time,
so I don't really spend much money on fuel. And
then also I do get free fuel from work sometimes,
so stop that's pretty great if I have to drive
anywhere for work. And then yeah, I invest one hundred
year shollers a fortnite and then I have a joint
(32:08):
account with my partner, and we put one hundred dollars
in a week, so two hundred dollars a fortnite and
that's more so like food and then like dog food
and just if we go out for dinner, we'll kind
of use that card.
Speaker 3 (32:21):
And yeah, but that means you can kind of like
really build up your wealth right now and put as
much away as possible. And is that kind of where
you're prioritizing things.
Speaker 2 (32:32):
Yeah, so i'd say right now, I have a really
good emergency fund. I'm considering halving it because it's currently
ten thousand dollars, which I don't really touch. But I
don't really think it needs to be that high. But
I just sort of think because since my housing is
attached to like my boyfriend's job, like if we break up,
(32:55):
I'm going to need to find a place to live
and move away potentially, So it is kind of nice.
Speaker 4 (33:00):
To have that buffer.
Speaker 2 (33:02):
But I like, I don't really think I needed that high,
Like I don't think we're going to break up, no.
Speaker 3 (33:07):
But it's also nice to know that, like you've got
that financial freedom. Yeah, Like I think that the coolest
thing about being a woman in twenty twenty six. Is
that like having your emergency fund set up and having
everything organized means you can just say no to literally anything.
Speaker 2 (33:21):
Yeah.
Speaker 3 (33:22):
Like, don't get me wrong, I'm sure you're obsessed with
your boyfriend and we've got no plans of changing. But
to be able to be in a situation where if
anything ever happened, you could be like, no, you get
in the bin and walk out and be fine. Yeah,
what a flip.
Speaker 2 (33:34):
So once I had paid off my car loan. When
I was paying it off, I kept my emergency fund
at like five thousand dollars, and then I still had
my normal bill splits. But that was before I moved
in with my boyfriend, so I had breads, so my
expenses were a little bit higher. But once I paid
it off, I then built it up to ten thousand,
and then.
Speaker 4 (33:54):
If I ever touch it, I just top it back up.
Speaker 2 (33:56):
But any leftover money just immediately goes into savings, and
in savings at the moment, I have fourteen thousand dollars,
So that's stop it.
Speaker 3 (34:06):
And you're twenty five.
Speaker 4 (34:07):
Yeah, that's not including like my emergency fun or anything
like that.
Speaker 3 (34:11):
So your emergency is ten grand. You've then got fourteen
thousand in savings. What else is sitting in other places?
What was your investment total?
Speaker 2 (34:18):
A thousand?
Speaker 3 (34:19):
Yep, and then you've got your super like you are
really building yourself up. Well look at you go. I'm
so proud. I just get so excited, Like I want
to hug fever when they tell me, and like if
you've ever met me in person and you come up
to me and you're like, look what I've done, like
you would know that, I like basically jump on you
because I'm just so excited about it. Yeah, I also
(34:41):
want to be extra pervy. Tell me about your boyfriend, So, like,
how does this dude have four investment properties?
Speaker 2 (34:47):
He's insanely good with money, Like these whole families good
with money, Like all of his siblings have investment properties,
investments and things like that, and he's like family fully
built everything they have. Now he got nothing given to
him at all. And when he was a teenager, he
was just also really good at savings. Like he would
(35:07):
tell me how when he was you know, he was
working at the local supermarket and he would take all
the money out of the bank and then take it
to a different bank that had a high interest savings account.
Speaker 4 (35:19):
You know, and he'd like would have like thirty grand
or something just as a teenager.
Speaker 2 (35:25):
I know. And then so he bought his first house
when he was like twenty I think it was a baby,
I know. And now he has four. They're all in
regional towns, so they were like a bit cheaper to
buy compared to if you bought something in Melbourne.
Speaker 3 (35:42):
Look, I'm not gonna lie. I did assume that they
would have been regional, just because you are in farming
and like, you know, you're a bit further out. And
to be honest, if you said, oh, Victoria, he lives
on like two k's from the Melbourne CBD, you know,
owns for properties, I'd be like, what in the wealth?
Like that has to be intergenerational, Like you know what,
I will wait for the day that we meet someone
(36:04):
who's like I own multiple investment properties and had absolutely
no help. They're all in their CBD. Yeah, that's just
not going to happen. I'm really sorry.
Speaker 2 (36:11):
Yeah no. So, yeah, he's just always been really really
really clever with money, Like having one hundred thousand dollars
in a bank account is just a normal thing for him.
But he does earn really good money. So he manages
afarrog and he's on one hundred and fifty thousand dollars
a year, but then he also gets a free house
(36:35):
and a free car and like a phone and things
like that. So I think his salary package all up
is like two hundred thousand, and he's yeah, it would
be twenty seven.
Speaker 4 (36:45):
And he got that job when he was twenty three.
Speaker 3 (36:47):
He's only twenty seven. What a weapon. Like maybe we
should start doing like he's on the money Money Diary. Yeah,
but like, don't get me wrong, Like I'm just pervy.
I want to know what you've got. I don't want
to listen to a whole podcast about a talking about
his wealth, Like I can't learn anything from that order
to talk to his girlfriend, you know.
Speaker 2 (37:04):
Yeah. So he kind of has been a really positive
influence on me because I kind of didn't really think
that it was sort of normal or possible for people
to have It's probably not normal, but to have that
sort of money when they're so young and you know,
be able to save so well and not be frivolous
(37:24):
with money, and like we're super super open about our
money together.
Speaker 4 (37:29):
Like what I would say, I'd be like, oh.
Speaker 2 (37:31):
My God, I've got fifteen thousand dollars and I'm like,
now I've got twenty thousand dollars and yeah.
Speaker 3 (37:37):
Yeah, And you say it's not normal, And don't get
me wrong, it's not because normal would be defined as
something that like most people do. Yeah, but it's not unrealistic.
So it might not be the norm, but it's not impossible.
And I think that that's what's just so cool is
that these things are possible for us, and sometimes we
just need to hear stories of other people doing it
to be like, wait, that could be a possibility for me.
(37:58):
That's crazy, Like what could I do to step towards that?
And I mean, you know, there's a lot of and
I'm going to use the word privilege again, but privilege
involved with that because obviously you have to be in
the right place and have the right family to be
able to take that job, because otherwise, like that job
isn't just gonna you know, turn up, Like there aren't
that many jobs floating around where I'm like, well, if
(38:18):
you just move regionally, like that's not how it works,
but like what other things could you do? Like could
moving regionally and doing a job like yours beat an option, Like, yeah,
just there are so many opportunities out there and I
just love that we get to learn about them through
people like you on our show, Like what a privilege?
Speaker 4 (38:36):
Yeah, and like it rents a lot cheaper if you
move regionally.
Speaker 2 (38:41):
Obviously supermarkets are more expensive and things like that are
more expensive, but just day to day life I think
works out to be cheaper. And you know, there is
a lot of incentives for people to move regional. Like
I have a few friends who are teachers and they
get paid a fair bit more than people who are
teachers in CBD and things like that. So yeah yeah,
(39:03):
and like you know, you can buy a house for
three hundred thousand dollars.
Speaker 3 (39:07):
So see that's crazy to me. Like not actually because
like I finance those houses day and day out, but
just like the idea that it's as accessible as it
is nowadays.
Speaker 2 (39:17):
Yeah, I love it.
Speaker 3 (39:18):
It makes me so happy. Yeah, money dost And what
do you think your worst money howbit is.
Speaker 4 (39:22):
Honestly my spending guilt.
Speaker 2 (39:24):
It's really really bad. Like I'll think on a purchase
for so so long, and like if I want to
buy a dress, I'll send it to all my friends
and then weeks later, I'll send it to all of
them again and I'll just like just get it, like,
come on.
Speaker 3 (39:38):
That's definitely you putting more than twenty four hours between
you and your spending.
Speaker 2 (39:42):
Yeah, and I just feel like guilty. And then I
think sometimes I don't think my friends understand that I
spend money on things I value and not on things
that I don't value, you know, So I don't know,
I don't want to go to the pub every night
of the week and get like a thirty dollars meal
because that's not something that I value and want to
(40:03):
spend my money on. Whether I might be like, oh,
you know, don't be cheap, like you can afford it,
and it's like, just because I can't afford it doesn't
mean that I want to spend my money on.
Speaker 3 (40:12):
It exactly, And like we are all here spending money
in line with our values. And in your submission you said,
I just think I might always be the cheap friend.
Speaker 2 (40:21):
Yeah.
Speaker 3 (40:22):
What does that look like though? Like are you actually
being the cheap friend or are you being the smart
financial friend?
Speaker 2 (40:29):
I think I'm being maybe a bit too savvy sometimes,
but not really like there's genuinely nothing that I've not
bought that I've really regretted, you know. So I think
it's just their perception of me probably being cheap and
not wanting to spend my money on lots of different things.
(40:51):
You know, if we go away and I'll always look
like the cheaper hotel option because it's just a place
to stay. It's not something that I want to go
big on. But yeah, I just do worry that I will.
I don't know. I just feel really really guilty spending
money sometimes and I think it's not good.
Speaker 3 (41:12):
Yes and no, maybe your worst money habit is your
mindset around money still, because I think you can still
be the cheap friend and enjoy your friend's company and
be part of the action and be part of what's
going on, because you know that's me. Sometimes I'll be like, oh, oh,
come out. Yeah, but I don't really want to buy dinner,
(41:32):
like I'm maybe not feeling it or I just don't
want to eat there or whatever it is. Yeah, and
I think that that's absolutely fine. But also you're probably
teaching your friends some really good money habits, so they
are welcome.
Speaker 5 (41:44):
Yeah.
Speaker 4 (41:44):
I do love talking to my friends about money.
Speaker 2 (41:46):
Sometimes I find it quite frustrating because I can see
what they're doing, and then they'll complain about not having money,
but I'll like have a bit of a background knowledge,
being like, well, I know why you don't, but it's
not really my place.
Speaker 3 (42:00):
No, No, you can't be like, hey, did you realize
that you're the problem?
Speaker 2 (42:04):
No exactly. So yeah, sometimes I do struggle with that,
or I think sometimes too, I compare myself to people
a lot, like where we live is quite a rich
farming area, and so I see a lot of wealth around,
and I see a lot of like rich people around,
you know, like helicopters, planes, brand new cars and things
(42:28):
like that. Wow. Yeah, so I see that, and I
think I wish that was me and comparing myself to them,
but you know, they've got intergenerational wealth backing them up also,
like they do obviously work very very hard for what
they have. So I think sometimes I compare myself.
Speaker 3 (42:46):
You're also a baby, Like, let's remember that you're only
twenty five, and like the way that you're setting yourself up,
you're going to be part of that wealthy group at
some point in the future, Like you're just at a
different chapter, babe, Like, don't.
Speaker 4 (42:58):
Stick ahead, you know, I do need to do that.
Speaker 2 (43:01):
Like, oh, sometimes I talk about like getting because I
need to get a new car, but I'm not really
going to but I think, oh, like I don't need,
you know, a brand new three hundred series because I
don't have kids.
Speaker 3 (43:13):
So no, no, but like it's nice to look.
Speaker 2 (43:17):
Maybe when I'm like thirty five and have kids, then
I can get the mom car. But I don't need
the mom car right now.
Speaker 3 (43:23):
No, And do you know what, Like as I say
to all of my friends who want the mom car
when they're not a mum, I'm like, now I'm a mom,
and my car is arguably not big enough. Like I
crave the little car. Like I saw a Mini Cooper
the other day and I was like, how cute would
that be to get around town and like you know,
zip in and out like at the moment my car.
You know, I just feel like we all want something
(43:45):
that we don't have, and like I think we need
to remind ourselves of that because it's just so easy
to want something other than.
Speaker 2 (43:53):
What you have. Yeah. So definitely, like comparing myself to
you know, people who are in completely different situations in life,
life is probably not great to do.
Speaker 3 (44:02):
Well, let's reframe it and see if we can use
them as inspiration to build more wealth.
Speaker 2 (44:06):
Yeah, definitely, Money Diarist.
Speaker 3 (44:09):
At the start of the show, you gave me a
money grade. Now that we've spoken, do you think that's
still reflective or do you think it would change it
a little bit?
Speaker 2 (44:18):
Nah, I think I'd probably stick with the B plus.
There's a few things that I need to sort of
fix with my mindset. I think around spending la. I
think I'm good with money, but I think the spending
guilt is probably not great. And then yeah, I know
I saw that personal insurance.
Speaker 3 (44:39):
I mean that would definitely take you up to an A. Yeah, absolutely,
and that's an easy win. Yeah, I won't argue with you.
I feel like we're all on our own journey. But like,
comparison is literally the thief of joy, and I think
the thing that we need to remember is that even
those people that we're comparing ourselves to, they're comparing themselves like, yeah,
just the idea, Yeah that you know, they might be
(45:01):
flying off in a helicopter, that's great, They're looking at
their friends who have the better helicopter, and like, we
need to be really happy with what we have because
from my perspective, How on earth are you going to
be happy with more if you're not grateful for what
you already have? Yeah, And like I try to ground
myself in that a lot, because I'm like, no, no, no,
(45:22):
Like I'm really grateful for where I am and what
I have, because how on earth are we going to
be excited about the next thing? And like, girlfriend, like
let's just like pretend tomorrow you get a helicopter. Amazing,
but like, one, what the heck are we going to
do with it? True, if we're not grateful for what
we have at home, we're then going to get the
helicopter and then be looking for the next thing.
Speaker 2 (45:42):
Yea.
Speaker 3 (45:42):
And like there's something to say about people who were
just full of gratitude, and like I'm just always looking
at like the mindset of other people. And now I
feel like and again, comparison is the thief of joy.
I have to keep reminding myself that. But like I'm
now comparing myselves to people who while like, oh I'm
so happy, I'm so fulfilled, I'm so this, I'm so that,
(46:03):
And then I'm like I want to be you too,
So like I feel like you never escape it, but
you've got to consistently remind yourself, no, that's not where
I want to be. No, that's not where I want
to be, and like remind yourself that you're a bad
us too.
Speaker 2 (46:14):
Yeah. Yeah, I think I need to be more grateful
for the season that I'm in at the moment and
appreciate what I do have and how fortunate I am
compared to other people, but also acknowledge that I did
make sacrifices and like work hard to get to where
I am. Yeah you did this?
Speaker 3 (46:33):
Yeah, how cool money, Diris. It has been an absolute
pleasure having you on the show, and I just know
so many people are going to be as perfy on
what cattle genetics looks like as I am, but also
about your whole money story, like genuinely so impressive. So
thank you so much for spending so much time with me.
I really appreciate it.
Speaker 6 (46:51):
It's the advice sheared on Cheese on the money is
general in nature and does not consider your individual circumstances.
She's on the money exists purely for educational purposes and
should not be relied upon to make an investment or
financial decision. If you do choose to buy a financial product.
Speaker 3 (47:13):
Read the PDS TMD and obtain appropriate financial advice tailored
towards your needs. Victoria Divine and She's on the Money
are authorized representatives of Money Sherper Pty Ltd ABN three
two one six four nine two seven seven zero eight
AFSL four five one two eight nine
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