August 31, 2025 • 33 mins
Every money story has a sliding door moment... the decision that could go either way. Stay safe, or risk it all. This week’s Money Diarist chose the second option: she sold her house, walked away from job security, and packed up the family for a sea change with no plan and no savings. Everyone (including her parents) thought it was risky. And honestly? At first it did look like financial chaos. But that one leap set off a chain of events she never could’ve predicted, the kind of glow up that proves the riskiest decisions sometimes deliver the sweetest rewards. You’ll hear how she navigated debt, uncertainty, and living week-to-week, the turning point that changed everything, and the money wins she still can’t quite believe are hers. If you’ve ever stared down a scary choice and wondered what might happen if you said yes… this is your sign to listen.
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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 - 451289.
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Episode Transcript
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Speaker 1 (00:00):
My name's Aatasha Bamblet. I'm a proud First Nations woman
and I'm here to acknowledge country t Glenn Young Ganya
Nianar Kaka yah y and beIN Ahaka nian Our gay
In Nimbina yakarum jar Dominyama, Domaga Ithawakaman damon Imlan bomber
bang Gadabomba in and now in wakah ghan On yakram
jar Watnadaa. 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 (00:44):
She's on the Money.
Speaker 3 (00:46):
She's on the Money.
Speaker 4 (01:07):
Hello, and welcome to She's on the Money, the podcast
that lets you be pervy about other people's money habits
for educational purposes, of course. Welcome back to another one
of our Money Diaries episodes where I get the absolute
pleasure of sitting down and having a chat with one
of our She's on the Money community members all about
their money story, and let's jump straight into it, because
this week I got a message and it went just
(01:30):
like this, Hi, she's on the money. At the end
of twenty twenty, we took a big risk and sold
our house to move our family to the beach. I
left my permanent job for a temporary contract, and my
husband had no job to go to. At the time,
we were in debt and had no clue about money.
Fast forward five years later, and now we have our
house savings, we are consistently investing, and we are in
(01:52):
the process of buying an investment property. Money Diarist, what
a glow up.
Speaker 2 (01:57):
Sounds so strained when you say it back.
Speaker 4 (01:59):
It's my favorite thing reading your money story to you,
because then you go, hold on, I'm actually pretty cool,
aren't I?
Speaker 2 (02:05):
Yeah, exactly, I love it.
Speaker 4 (02:07):
Let's learn a little bit more about you before we
dive any further in. I want to know what would
your grade your money habits from A three to F
if I asked you to give them a grade.
Speaker 2 (02:15):
I think now where we are now, I would give
myself probably a B A B.
Speaker 4 (02:22):
All right, let's learn more about that money drives. I
want to know, tell me a bit more about your
money story.
Speaker 2 (02:28):
Well, my money story started, I suppose when I was
a child. My mom and dad just very hard working people,
but also very conservative people. They raised me to work hard,
by a house, stay in the house, continue to work,
paid off, then you retire. So I didn't really know
(02:53):
much about investing. I didn't know much about investment properties
or anything like that. Yeah, they were just very safe people,
and when it came to money, I think we lived
a very sheltered life.
Speaker 4 (03:07):
That seems fair, but how do you get to the
point where living a sheltered life you then go Okay,
my parents were pretty like conservative, I'm going to quit
my job, go to a like temporary contract, my husband
doesn't have a job when we're moving to the beach,
Like what happens in between that? Because to me, that like,
I love that for you, but my god, I would
(03:27):
have anxiety if my partner even suggested that to me.
Speaker 2 (03:30):
Well, my parents did have a little bit of anxiety,
I think when I told them that that's what we
were planning on doing, their comments were and their advice
was very i don't know, for lack of better word, negative. Yeah, okay, yeah,
they didn't think it was a very good idea. And
you know, I can understand why.
Speaker 4 (03:48):
You can see why when you're trying to protect someone,
you go, oh, babe, I don't know if that's a
good idea, like that seems pretty risky, like also twenty
twenty before or after COVID announcement.
Speaker 2 (03:58):
Oh my gosh, yes, don't know. I just felt in
my heart that it was the right thing to do.
It was I was being I don't know, pulled in
that direction. Yeah, yeah, I just knew that if I
didn't take the risk, you'd regret it. I would, yeah,
we would. We would regret it.
Speaker 4 (04:14):
Yeah, And so tell me how that worked out, because yeah,
big risk, but you know what comes with big risk,
big reward and sometimes like you put your money where
your mouth is and then you're like, glad I did that,
because I'm in a much better position. How's the beach.
Speaker 2 (04:28):
It's lovely. I mean a lot of the time it
does rain, but no, the beach. This is our home now,
this is where we call home.
Speaker 4 (04:35):
A door and does it feel like home? Like you said,
or you were like, oh, I'm being pulled here, like
was there someone there or something there? Or you were
just like, no, we meant to live like over here.
Speaker 2 (04:45):
No, well, my husband's parents live close by. But you know,
as much as we love them, we didn't move up
to the same area for them. It's lovely to be
close to them, it really is. But yeah, we just
we knew that that's the lifestyle we wanted to live
and to give our boys. So that's what we did,
and we decided to take a risk.
Speaker 4 (05:05):
I love that. And you said you have boys. Have
you got two kids?
Speaker 2 (05:07):
Two boys? Yes? So two boys, yeah, yeah, two boys,
one thirteen, the other one is ten. But at the
time they were oh, I think maybe five and eight.
Speaker 4 (05:17):
That's crazy. How time flies, hay, Like twenty twenty feels
like yesterday at the same time as being forever a guy.
Speaker 2 (05:24):
It's crazy.
Speaker 4 (05:25):
It's actually insane. So like fast forward to now, like
you've obviously changed everything before I get into like what
you do and how much money you earn? Like what
changed because you go from going, oh, I had a
permanent job to a temporary contract and like my husband
had no job. So you get there, you've moved to
the beach. You had this temporary contract. What happened with that?
Speaker 2 (05:44):
Well, I just stayed in that temporary contract in the
hope that it would become permanent. It eventually did.
Speaker 4 (05:49):
Ah, money win, money win by life win.
Speaker 2 (05:52):
Yeah, I don't work there anymore, that's okay, Yes, And
my husband. The irony of all of this is that
at the end of two thousand nineteen, he just graduated
from a Bachelor of Aviation Management.
Speaker 4 (06:05):
Bougie.
Speaker 2 (06:06):
Yeah, But twenty twenty came and the whole world shutdown.
Speaker 4 (06:09):
So oh, that's that's not so bougie. That's not so good.
Speaker 2 (06:13):
No, that was not bougie. That was very tough, and
I did feel for him. I felt so.
Speaker 4 (06:18):
I mean, at least you were closer to the beach,
exactly exactly.
Speaker 2 (06:21):
That was a good part of it. In the company
that he was working for, he had to drop his
hours to part time to be able to study full time,
and so when the world shut down and he couldn't
get a job in aviation, he tried to get his
full time hours back and it didn't happen. And then
he tried to get a transfer to where we were
moving to and they weren't allowing that. So it was
(06:44):
very frustrating. I felt horrible for him, and I just
said to him, I said, babe, just quit. Just quit.
We'll sort it out. And that's how he ended up
with my job.
Speaker 4 (06:53):
Oh well, you know what. Sometimes big risk, big reward.
So tell me before we get any further, how's your
husband now, kid? Does he have a job again?
Speaker 2 (07:01):
He is?
Speaker 4 (07:01):
He much better? He does, he does, because that would
have been stressful.
Speaker 2 (07:05):
Yeah, it was, it was, but we just sort of
took it day by day. He does have a job
now in the aviation industry, which is really good. So
I think he's Yeah, he's quite he's quite happy.
Speaker 4 (07:13):
I love that. So now tell me a little bit
more about the personal situation. What do you do for
work and how much money do you earn.
Speaker 2 (07:20):
I used to work in healthcare, but the burnout is real,
so I had to take a step back from that
and I did that at the end of last year.
I now work for a higher education institution and at
the moment, I currently earn about eighty two thousand.
Speaker 4 (07:38):
Oh, very nice, and.
Speaker 2 (07:40):
With seventeen percent super on top of that.
Speaker 4 (07:42):
Okay, that's very sexy.
Speaker 2 (07:45):
That is a big draw card.
Speaker 4 (07:46):
I feel like higher education in general is just so underrated,
Like so many people are always like, oh my god,
what can I do for my career and then girl
higher ed like work for a university, do something like
that because their superannuation is and also like they have
salary bands and stuff. So everything just keeps moving and
I think that that's really sexy. I need to be
(08:07):
really pervy. What kind of income does your husband earn
in the aviation industry?
Speaker 2 (08:11):
He earned roughly this last financial year he learnt he
earns just on one hundred thousand, But yeah, he's in
the process of moving roles at the moment. We're just
sort of waiting for that to happen.
Speaker 4 (08:24):
Yeah, so household income of about one hundred and eighty
two grand, which is good, which is nice. What does
that I obviously don't know a lot about what you
mean when you say you're moving to the beach. I
can see guys being really perfy. She's based in Queensland,
so the beach is probably really nice. It's not some
Melbourne beach. But when you say moved to the beach,
have we moved somewhere like this is obviously in New
(08:47):
South Wales, But like, are we moving to an expensive
beach like Bondai Beach or are we like a little
bit more rural but still coastal, Like, what type of
living expenses exist in the area you're in.
Speaker 2 (08:57):
I mean, we are on the Sunshine Coast, so I
guess it depends on your budget. I mean, I personally
think that things are quite expensive.
Speaker 4 (09:06):
So tell me a little bit more about you moved.
You said that you're in the process of buying an
investment property. You obviously have like bought the family home.
You're all good to go on that front. You've got
your house, You've got your savings. What are your big
money goals? What are you currently working towards?
Speaker 2 (09:21):
Well, when I wrote in it was to get the
investment property. We found out yesterday that it's all sorted,
so we should be settling there.
Speaker 4 (09:28):
Oh so you got congrats? How exciting?
Speaker 2 (09:33):
That is really exciting. Yeah, I mean I still have
no idea what I'm doing, but we'll figure it out
as we go along.
Speaker 4 (09:40):
Tell me what do you mean when you say I
don't know what we're doing, like in terms of purchasing,
or in terms of like getting at least out, or
like just I don't even know where to start all
of that.
Speaker 2 (09:48):
All of that. I'm just trying to work out what
our new financial situation is going to be taking on
an extra loan, trying to work out an instructure, how
that's going to work, and what that's going to look
like with our money and our income and our bank accounts,
and how we're going to structure it even like you said,
(10:09):
right down to getting a tenanty and how do I
go about doing that? Yeah, so all of that stuff.
Speaker 4 (10:13):
If you've got any questions, just dm me. Turns out
I don't know a fair bit about property.
Speaker 2 (10:17):
Amazing, thank you.
Speaker 4 (10:18):
Yeah, yeah, I know a guy who knows a guy,
and I am the guy.
Speaker 2 (10:20):
I might take you up on that offer. Yeah, so
that settles next week.
Speaker 4 (10:24):
That's so exciting.
Speaker 2 (10:25):
I know it is exciting. But I think our big
money goal, and we've been speaking about this for quite
some time, is overseas property. Okay, yeah, so my husband,
luckily is a citizen of the EU.
Speaker 4 (10:38):
Oh okay, yeah, oh I see where this is going.
I was like, overseas property goal, what are you talking about?
Speaker 2 (10:44):
Yeah? Yeah, yeah, yeah, So that's where I think eventually
we want to get to.
Speaker 4 (10:49):
So you've basically married a prince room Dubai. I love
this for us, So tell me about owning property overseas.
So for those of you playing along in the EU.
How much text do you you pay money diarist?
Speaker 2 (11:01):
It's a great question. I haven't figured that out. And
does it depend on which country you are in?
Speaker 4 (11:06):
It depends on which country you earned the income in.
But if you then purchased a property, like say in Dubai,
they actually don't pay tax, which is a money win.
But if you purchased a property there, any of the
capital gains, any of the benefit to that property is
also not taxed because that would have been earned over there.
So I can see why maybe your partner is very
(11:27):
interested in owning overseas. For a lot of people, it
can be a I wouldn't say for everybody. So when
I say for a lot of people, I mean for
a lot of people who are citizens of the EU.
Like that makes sense, But I think it's each to
their own in terms of whether it's beneficial. But I
wouldn't be like listening to this podcast and going wow,
(11:48):
I never considered overseas property because that's really risky. But
if you have ties to that country and can make
it work, it could be potentially very beneficial. The thing, though,
is where you are registered as a tax and you
will have to talk to your accountant about that, because
there is the potential and I don't know property law
over there, not well enough. I have a few XPACT
(12:08):
clients so kind of know a little bit, but not
enough to advise properly. But talk to an accountant. If
you are based as a tax resident in Australia, it's
very likely that any income you earned because you didn't
spend any time in the other country is taxable based
on Australia's tax law. So it would all be about
trusts and how that's held and what that looks like,
(12:29):
and like getting the right structure as well as the
right property purchase. So like first thing I'd look at
is accountant that's good with expats, that can tell you
about the structure that you would need to be successful
in that venture.
Speaker 2 (12:41):
Good to know, yep, sorry side note, No, no, no,
that's good to know because, like I said, it's a
very long distance dream at this stage, but with how
fast time flies, I feel like it's going to be
here before you know it.
Speaker 4 (12:51):
And exactly twenty twenty was yesterday, exactly.
Speaker 2 (12:53):
We just need to get our ducks in a row.
So good to know, thank you.
Speaker 4 (12:56):
But that's really fun and that could be like a
fun adventure to go on, depending on what the financials
around it are. So big money goal is potentially owning
overseas property. What other goals are you currently working towards?
Speaker 2 (13:08):
I think just getting ourselves to that point. I've always
said that I don't want to work past fifty. I
don't know whether that's going to eventuate or not, but
I'm trying really hard. I'm trying really hard. Yeah, I
don't want to be working until I'm sixty seven. I
don't want to do that.
Speaker 4 (13:24):
I get that. All right, Let's go to a quick
break because on the flip side, I want to know
a little bit more about this plan to hopefully retire
before fifty. And also I need to ask you about investments,
because you can't just say, oh, we just settled like
or we're settling next week on an investment property and
I am not asking you about the numbers. So let's
get into that after this break. All right, we are
(13:47):
back money Rust, and I feel like this is a
really fun money story. Like you took a massive risk,
you moved from where you were living towards the beach,
your husband didn't have a job, you were working on
a temporary contract, and you've kind of had debt and
no clue about money, and you've gone in the last
five years. You have your family home, you have savings,
you're consistently investing, which by the way, I can't wait
(14:09):
to dive into. And you just bought your investment property. Like, sorry,
that's a good deal. And we just learned that you
have a household income of around one hundred and eighty
thousand dollars, which I would say is very relatable. So
I need to dig into this a little bit deeper.
Let's start with the investment property. What does it cost
to get into an investment property? Like, tell me all
(14:29):
the nitty gritty.
Speaker 2 (14:30):
Well, we bought our investment property, and it's probably in
a little bit of a rural area. We paid four
hundred and ten thousand, and I think just based where
it is. I was having a chat with the real
estate agent and she put me in contact with somebody
else who said that they could probably lease it for
about five sixty to five sec. Yeah, a week. So
(14:54):
that's where we're at with the investment property.
Speaker 4 (14:56):
And how are you feeling about that?
Speaker 2 (14:58):
I am excited, I am excited. I'm quite proud of
us for achieving this and coming this far. But again,
I still have no real idea of what we're doing
or how we're going to make it work. But yeah,
I guess we will sort of just learn as we
go along.
Speaker 4 (15:12):
And I feel like just doing some really quick maths
off the top of my head. If you purchase for
four hundred and ten thousand dollars and then you said
that you were leasing it out, was it five sixty
a week?
Speaker 2 (15:23):
Yeah, that's the hope.
Speaker 4 (15:24):
That's very nice because that's a rental yield of around
seven just over seven percent, So that is, from my
perspective as an ex financial advisor, pretty good. Damn rental property.
Was that something that you were quite strategic about, because
like rental yield, Like, if anybody's talking about rental properties,
I don't care what it looks like. If you're like, oh,
(15:46):
it's beautiful Victoria, it's got a bath, I get in
the bin. I don't even care. We are talking about
rental yield and creating wealth. We're not talking about our
family home. We're talking about the amenities of the apartment
block that you're buying in. I just want to know,
can we secure good long term tenants? Can we look
after them? And can I get a good rental yield
on that property? Sorry, if you put a property and
(16:07):
in front of me and said they cover up four ten,
it'll pay seven percent. Okay, take my money. That's a
good deal. That's a good deal. So I see why
you've jumped into this. Did you have advice for this?
Did you go shopping for this?
Speaker 2 (16:20):
How?
Speaker 1 (16:21):
Oh?
Speaker 2 (16:21):
Well, I've done a lot of this off my own back.
I've done a lot of research. I spoke to a
lot of people.
Speaker 4 (16:26):
See you said you don't know what you're doing in
the first half of this episode, and I'm uncovering that
maybe you're the mastermind behind all of it.
Speaker 2 (16:33):
Don't not a mastermind? I wouldn't say that. Oh my goodness,
but I'd like to do the research first. I questioned
my decision when I finally make it, and you know,
I wonder, Oh, it's just the right thing to do.
You know what if I have made the wrong choice.
But I was looking, well, we were looking for investment
properties every state of this country, everywhere like you name it.
(16:55):
That's where we were looking. And we eventually settled on
where we bought the property. And I think a little
bit of it was luck, A little bit of it
was planning.
Speaker 4 (17:06):
It's really funny how the more planning you do, the
luckier you get, isn't it.
Speaker 2 (17:11):
Well maybe if that's the way it goes. I love that.
Speaker 4 (17:14):
I feel like it's actually not luck. It's all strategy
and just like waiting and like people think they get lucky.
It's like, I think that we create our own luck,
and I think that putting it down to luck it
diminishes all that research that you did, because like, if
it was luck, you would have just pulled an investment
property out of the hat and be like, it's so
lucky we got one. No, that seven point one percent
(17:36):
gross yield is very attractive.
Speaker 2 (17:38):
Yeah, good point.
Speaker 4 (17:39):
We're not lucky, we're strategic. We are strategic, so you
don't have to obviously tell me more about that. So
four hundred and ten thousand dollars purchase price, what type
of deposit did you have to cough up for that?
Speaker 2 (17:49):
So we had to pull a bit of equity from
our residential property where we live, and I don't exactly
know how our broker worked out the numbers, but we
ended up pulling a hundre thirty five thousand from our
mortgage and we use that as a deposit.
Speaker 4 (18:04):
Yep, good deal. And that's a good deal. So you
didn't have to cough up any actual heart cash. You
just worked on equity. Now, you would have purchased that
property that we're talking about, this family home, within the
last five years. When did you purchase your family home?
Was I in twenty twenty when you moved to the beach?
Speaker 2 (18:18):
No, that was in twenty twenty one.
Speaker 4 (18:21):
Okay, so I've just got questions, good questions, I promise.
How much did you purchase your family home for?
Speaker 2 (18:27):
We purchased it for seven hundred and forty six thousand.
When we sold our house to move to the beach.
We had a nice little profit at that time, and
I think it was the profit that we made from
that house was about one hundred and thirty thousand, which
we used to put down on our house that we
live in now. Yeah.
Speaker 4 (18:47):
Yeah, So you purchased that for seven hundred and forty
six thousand dollars and now four ish years later, you've
bought an investment property, which tells me you would probably
have a recent bank valuation on the property that you
live in. What is it worth today?
Speaker 2 (19:01):
I checked just the other day and it was just
over the mill. Oh excuse me, yeah, I think it
was like a million and sixty thousand or something like that.
Speaker 4 (19:11):
That is a money win. So you've increased your equity
in your property within four years by like a literally
quarter of a million dollars money win, and then you
were able to use that to get into your next property.
If I go back to the end of twenty twenty,
when you took that really big leap of faith and
say we're moving to the beach, and I got to
be like, hey, so money diarist, you will have purchased
(19:33):
your property. You would have like about two hundred I
reckon in my head, just doing some mass you probably
had about two hundred thousand dollars worth of equity. You'll
take out one hundred and thirty and buy your first
investment property. Is that the reality you saw happening for you?
Speaker 2 (19:44):
You got at all? Oh my goodness, not at all.
Like like I said when I wrote in we were
in debt, like we had two car loans. Oh sorry,
maybe we just had one car loan at the time,
but we were terrible with money. The only way I
thought that we could get ahead would be to take
a loan out or redraw on the mortgage, or we
(20:06):
had no savings whatsoever, like at that time, we were
living week to week.
Speaker 4 (20:10):
This makes me so excited you've done all of this.
Speaker 2 (20:13):
Yeah, it's quite exciting and heartwarming when you actually say
it out loud, like you it's your lived experience.
Speaker 4 (20:18):
But you don't really you don't give yourself credit. No
one ever does.
Speaker 2 (20:22):
Yeah, so I guess too. We have higher paying jobs
than we did back then as well, I suppose, which
obviously helps. But it was the podcast one of my
good friends, was it actually Yeah, yeah, so one of
my good friends. She's the only person I told that
I was coming on the show, So shout out to you. Gosh,
she knows who she is.
Speaker 4 (20:38):
Hi, friend, Hi, thank you for introducing my newest friend
to me.
Speaker 2 (20:42):
She got me onto you and your podcast and the
way that it was explained on She's on the Money,
I'm like, oh my gosh, it just makes so much sense.
Speaker 4 (20:49):
It doesn't have to be that deep, does her.
Speaker 2 (20:50):
No, And when it makes sense and it's simplified, it
gives you the drive to go out and do it,
to save your money and to be more strategic with
where you place your money in what you're spending it on,
and yeah, that's just I never thought that we would
be here and have that amount of money like just
there and available, like the equity in our property. Like
(21:12):
I never thought, what does that feel like?
Speaker 4 (21:14):
Because I feel like when you're just like because at
the time, back in twenty twenty, you honestly, like I
can see, you were just doing the best that your
bloody could. You're like, let's move the family to the beach.
That'll be a really good decision. Like you had a mortgage,
so like you were in an okay position, but you
still had debt, you still had your car loan, all
of that. That can feel overwhelming, and I think it
puts a lot more of a at tax on your
(21:37):
well being than you think because you go, oh, well
the debt doesn't matter, like we need the car, we'll
pay it off one day, like Victoria, it's not that deep.
But like if you compare your well being to now
from then, what kind of change does that look like?
Are you just like a bit more comfortable? You're like, no,
I'm still stressing, Like where are we at?
Speaker 2 (21:53):
That was a pivotal moment, I think, and I think
that had to happen for us, for the change to happen.
I mean, don't get me wrong, I still get worried
and I still stress a little bit internally when it
comes to finance. Is I just like I've got my
budget scribbled down on this little piece of paper, like
with highlighted.
Speaker 4 (22:12):
Is that your budget?
Speaker 2 (22:13):
That's my budget? Can I glow that up?
Speaker 4 (22:14):
I'm going to gift you my money masterclass, Like, that's
not your budget anymore. I'm going to gift you my
money with master Class. And you're going to do that
and you're going to put everything in there, and then
it's going to tell you exactly what bank account you
need to put things in, what your mortgages are going
to look like. It's going to clean all of that up.
That is cute, I promise that is cute. Like, guys,
she just held up to the screen and I can't
show you. It's like a notebook with all like pen writing,
(22:36):
but like color coordinated highlighterup, very very cute. But I
can glow that up easily. I can help look.
Speaker 2 (22:42):
Thank you, Oh my gosh, it brought tears to my eyes.
Thank you so being silly.
Speaker 4 (22:45):
And also, what a better time to redo your budget
than right before your new property settles, so you know
exactly what's coming out, and it's automated. I don't want
to flex it too much, but like, all you have
to do is put in your costs and then I've
written all of the like coding in the background so
that it just automatically will be like, Okay, well this
percentage of your income goes here in this and yeah,
(23:06):
you're going to be fine. This is going to be great.
Speaker 2 (23:09):
Thank you so much. That is so kind.
Speaker 4 (23:11):
So tell me a bit more.
Speaker 2 (23:12):
So.
Speaker 4 (23:12):
We've got the investment property, We've got some equity in
our family home. You said that you're consistently investing though,
so have you got a share portfolio? What's going on there?
Speaker 2 (23:21):
I have a Shara's account.
Speaker 4 (23:22):
I'll stop it, of course you do again started by
you girls. We try, we try. We're trying to be
like a cult. But as I was saying to my team,
we need to like become the Pyramid scheme or something,
because this is not profitable.
Speaker 2 (23:35):
Yeah, you got to make a buck out of this.
Speaker 4 (23:36):
Yeah, Like we've got to really find a way to
take advantage instead of just making people take advantage of
their own situations. So you've got your share Za's account
and what does that look like?
Speaker 2 (23:47):
So we invest. Obviously, my husband and my pay is combined,
so this is not just all my pay it is.
So we invest one hundred dollars a fortnight in two
Chareza's I started it way way back when and share
these first kame on the podcast and I think I
may have like fifty dollars in there, and I just
let it sit and I was just like, oh whatever,
But then I continued to listen and again it reignited
(24:09):
like the flame in my belly. I'm like, I got
to do this. Let's get back on the investing train.
So yes, we invest one hundred dollars a fortnight. And
that's I mean, it's nothing big. It's sitting at about
three and a half thousand.
Speaker 4 (24:18):
Sorry, that is massive. You are consistently investing. You just
told me you're a mum of a ten and a
thirteen year old, you have a family income of about
one hundred and eighty thousand dollars. You've got one mooad
you're about to take on another. Sorry, that is really good.
What types of investments are you picking up on that platform?
You're doing ETFs you're doing direct shares, Like, where are
you getting this advice from you?
Speaker 5 (24:38):
I'm getting the advice from you.
Speaker 4 (24:39):
No, no, no, no, no no, let's backtrack. I would never give
you advice on what to pick, but I would present
a number of options and then you picked. Why did
you pick the ones that you picked?
Speaker 2 (24:49):
Well, just by listening to the podcast, the ETFs are
obviously a mixed bag, a mix bucket of a little
sample pack of everything. So that's what I decided to
go with.
Speaker 5 (25:01):
So I've got.
Speaker 2 (25:01):
A I think maybe three three ETFs with Australian chairs.
I think I might have two or three with international
shares ETFs, and.
Speaker 5 (25:14):
Then I think I've got one more. I've got one
with common.
Speaker 2 (25:17):
Wealth that's their direct share with them. And then there's
something else that I just took a random punt on.
Speaker 4 (25:23):
See, I love this. This is where it gets a
little bit fun, right.
Speaker 5 (25:26):
It was like two dollars a share. I was like,
let's let's just see how this goes.
Speaker 4 (25:30):
That's cheaper than milk.
Speaker 5 (25:31):
It is cheaper than milk, yes, and it's we're in
the green.
Speaker 4 (25:34):
I love this for us And what made you want
to invest in that one?
Speaker 5 (25:37):
I just saw it and I was like, oh, yeah,
why not.
Speaker 4 (25:39):
I love that for us. All right, so we're going
to flip back around and talk about debt again. So
we know that you've got that four hundred and ten
thousand dollars mortgage. What do you still owe on your
family home?
Speaker 2 (25:49):
We oh, I checked yesterday and it was five hundred
and sixty three thousand.
Speaker 4 (25:54):
Okay, that's very nice to have purchased at seven hundred
and forty six. And you said you had a deposit
of about one thirty to be down to five sixty three.
Have you guys aggressively been paying that off or like
really prioritizing it.
Speaker 5 (26:07):
Yeah, we have.
Speaker 2 (26:08):
It would have been probably a little bit less, but
we took some money out. We redrew some money to
go on an overseas holiday for.
Speaker 5 (26:15):
My husband's birthday. So that's what we did. But yeah,
essentially what we do is we live off my husband's.
Speaker 2 (26:21):
Pay, and my pay just purely goes straight to the mortgage.
Speaker 4 (26:25):
I love that. So is that something that you guys
are consciously doing so that you get closer to retiring
at fifty ish? Because I know that you said, look,
I really don't want to work till i'm sixty seven
in the first half of this episode, and like, I
just feel like the more I'm digging into your little
financial situation, the more I'm like, Oh, she's good. Oh
she's good. So what does that look like to potentially
(26:47):
be retiring at fifty?
Speaker 2 (26:49):
Well, before we decided to take on the investment property,
I crunch some numbers, and if I've worked it out right,
we would have with what I was just getting paid
going straight onto the mortgage, we would have had that
paid out in either ten to eleven years. So that
would mean I am not fifty. But now that we've
(27:10):
taken on the investment property, the broker that we're working with,
he's really lovely love.
Speaker 5 (27:15):
Yeah.
Speaker 2 (27:16):
So he's saying to us that with the way that
we can structure the loans, we could potentially have our
property paid off in less time than that. So yeah, again,
it's just working all of that out and finding our groove.
Speaker 4 (27:28):
Love love, And I feel like that's exactly how you
have to do it. You can't just like sort it
out all in a day, like takes a little bit
of strategy. While we're still on their like investment debt conversation.
You work for a higher education institution and you get
seventeen percent super. Talk to me about your super? What's
that looking like?
Speaker 2 (27:47):
I'm actually quite proud of this because I didn't realize
how good it was until I started listening to the
podcast and you were giving averages of like people women
in my age group where our supers should be. But yeah,
check yours and I have two hundred and fifty six thousand.
Speaker 4 (28:03):
Two hundred and fifty six thousand dollars in super. What
have you been doing? Have you been like additionally contributing?
Have you been working three jobs? Have you been doing backflips?
Speaker 2 (28:12):
Like?
Speaker 4 (28:12):
What have you been doing?
Speaker 5 (28:13):
To be honest, I don't really know how it got there.
Speaker 4 (28:16):
Compound interest, baby, because if it was like less than
ten years ago, it would have been half that I
can always guarantee.
Speaker 2 (28:21):
Yeah, I think you know, I'm sort of at that
age where it really starts to kick in, the compound
interest really starts to kick in. But I have added
voluntary contributions and I have for most of my working career,
but it's never really been huge amounts.
Speaker 5 (28:36):
It was, you know, sort of fifty dollars.
Speaker 4 (28:37):
A year, hundred dollars Dad up, didn't that it does
it really does. You don't notice at the time and
you think this is fruitless, but one hundred dollars here
and there, I promise puts you in a better position.
So to contextualize that for everybody listening, the average superannuation
balance for someone between the age of thirty five and
thirty nine, and you are thirty six money diarists is
(28:57):
seventy one thousand, six hundred and eighty six dollars if
you're a female and nine eight hundred and twenty two
dollars if you're a male. And you are running rings
around both of those.
Speaker 5 (29:07):
Yeah, yeah, I'm quite proud of that one.
Speaker 4 (29:09):
I must admit love and to be a little bit pervy.
Do you and your husband talk about superannuation as a
retirement strategy? If so, what does his look like?
Speaker 5 (29:18):
Is less than mine?
Speaker 4 (29:20):
We love to see women in stam.
Speaker 2 (29:22):
Yeah, we do talk about super often, and it obviously
will be a part of our retirement plan.
Speaker 4 (29:29):
But not the sole INTI well, you can't access it
at fifty, so it can't be your entire retirement plan.
Speaker 2 (29:35):
And you know that was part of my money story
I think with my mum and dad was you know,
buy house you're living at your retire and you live
off your super I think gone are the days that
we can do that.
Speaker 4 (29:46):
It's heartbreaking, isn't it. It just doesn't work that way anymore. Yeah,
And that's why we have to kind of pivot and
really think about what other investment opportunities are out there.
Should I have an investment portfolio, Should I be looking
at an investment property? How can I get myself ahead?
And it looks like you are, like that is so
flipping exciting. Talk to me about your best money habit though,
because I feel like you're another quiet achiever. Like if
(30:07):
I was going to put you in a bucket, you'd
be like, oh no, I'm not that good. And I
feel like we're about to have an argument as well,
which is going to be really fun time. You're a
quiet achiever. You we're like, oh, I'm a be but like, girl, sorry,
you've gone in the last five years from not having
your dream home to having your dream home, having an
investment property, being able to use equity to do that.
You've got two hundred and fifty six thousand dollars in soupers,
(30:27):
so dollars, what are your good money habits?
Speaker 5 (30:30):
I think I've thought long and hard about this one.
Speaker 2 (30:33):
And I think my good money habit is also my
bad money habit.
Speaker 5 (30:37):
It's the hyper focus.
Speaker 2 (30:39):
It's the hyper focus on if I want to save
or if you're working towards a goal, I will move.
Speaker 5 (30:46):
Heaven earth to make that happen.
Speaker 2 (30:48):
So I think that that's yeah, that's also that's probably
my best money habit.
Speaker 4 (30:52):
On the flip side, what are your bad money habit?
Speaker 2 (30:55):
If I want something or if I see something, Say,
you know, I went and bought a new wall at
the other day. I didn't need any wallet, but I
was focused on it and I thought, I'm just going
to go get it.
Speaker 5 (31:04):
So I do.
Speaker 2 (31:05):
Try to put that twenty four hours in between my
spending and myself.
Speaker 5 (31:11):
But sometimes I'm just like, Nope, you're going to do it.
Speaker 4 (31:13):
No, Well, sometimes we're a little bit impulsive. But I
need to know a little bit more about this, be
at the very start, because I read you your money
story and you were like, oh, that's pretty impressive, let's
be honest, And I was like, absolutely, you have been
working really hard. You've got good incomes, you've got good superannuation,
you've got you know, your investment property, you've got your
(31:33):
family home. You're investing on the side. Literally, I can
see the budget really well, why not higher? And what
would make you hire? Like, what would you have to
be doing to be an a at money?
Speaker 2 (31:46):
I think I would probably like to invest more maybe, Yeah,
just understand that a little bit better rather than just,
you know, just one hundred dollars afore and I just
keep putting it in.
Speaker 5 (31:58):
I'd like to understand that a little bit more.
Speaker 2 (32:00):
And I would also like to understand, like, although I
feel like I'm okay with a budget, just staying on
top of that because sometimes I feel like that can
sort of get away from me. Yeah, So just being
able to stay on top of that more, I think
would push me up. I love that.
Speaker 4 (32:16):
And I feel like I'm semi helping here because I've
set you up with our money master class in the background,
and I feel like all of those things can basically
be solved, and so I'm very excited to see how
you go with this.
Speaker 5 (32:27):
You're not semi helping, You're all the way helping.
Speaker 4 (32:29):
Look, I'm really trying. I'm really trying, But at the
end of the day, you actually have to do the work.
So I made the spreadsheet, but you've actually got to
sit down. You've got to do the budget like you've
got a fility in and you've got to be consistent
with it. So like the work part, that's you, and
so I basically just gave you homework. So you're welcome.
Speaker 5 (32:46):
Thanks teacher.
Speaker 4 (32:47):
Oh my god, I have loved this money diary. Thank
you so much. I wish we had so much more
time because I feel like we could yap about literally
all of this until the cows come home. But I
really appreciated learning so much about your journey and just
what you're up to and how you're doing it, because
it's just really inspiring. So thank you so much.
Speaker 5 (33:03):
Oh, thank you so much for having me.
Speaker 4 (33:05):
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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,
(33:28):
read the PDS TMD and obtain appropriate financial advice tailored
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(00:24):
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Speaker 2 (00:44):
She's on the Money.
Speaker 3 (00:46):
She's on the Money.
Speaker 4 (01:07):
Hello, and welcome to She's on the Money, the podcast
that lets you be pervy about other people's money habits
for educational purposes, of course. Welcome back to another one
of our Money Diaries episodes where I get the absolute
pleasure of sitting down and having a chat with one
of our She's on the Money community members all about
their money story, and let's jump straight into it, because
this week I got a message and it went just
(01:30):
like this, Hi, she's on the money. At the end
of twenty twenty, we took a big risk and sold
our house to move our family to the beach. I
left my permanent job for a temporary contract, and my
husband had no job to go to. At the time,
we were in debt and had no clue about money.
Fast forward five years later, and now we have our
house savings, we are consistently investing, and we are in
(01:52):
the process of buying an investment property. Money Diarist, what
a glow up.
Speaker 2 (01:57):
Sounds so strained when you say it back.
Speaker 4 (01:59):
It's my favorite thing reading your money story to you,
because then you go, hold on, I'm actually pretty cool,
aren't I?
Speaker 2 (02:05):
Yeah, exactly, I love it.
Speaker 4 (02:07):
Let's learn a little bit more about you before we
dive any further in. I want to know what would
your grade your money habits from A three to F
if I asked you to give them a grade.
Speaker 2 (02:15):
I think now where we are now, I would give
myself probably a B A B.
Speaker 4 (02:22):
All right, let's learn more about that money drives. I
want to know, tell me a bit more about your
money story.
Speaker 2 (02:28):
Well, my money story started, I suppose when I was
a child. My mom and dad just very hard working people,
but also very conservative people. They raised me to work hard,
by a house, stay in the house, continue to work,
paid off, then you retire. So I didn't really know
(02:53):
much about investing. I didn't know much about investment properties
or anything like that. Yeah, they were just very safe people,
and when it came to money, I think we lived
a very sheltered life.
Speaker 4 (03:07):
That seems fair, but how do you get to the
point where living a sheltered life you then go Okay,
my parents were pretty like conservative, I'm going to quit
my job, go to a like temporary contract, my husband
doesn't have a job when we're moving to the beach,
Like what happens in between that? Because to me, that like,
I love that for you, but my god, I would
(03:27):
have anxiety if my partner even suggested that to me.
Speaker 2 (03:30):
Well, my parents did have a little bit of anxiety,
I think when I told them that that's what we
were planning on doing, their comments were and their advice
was very i don't know, for lack of better word, negative. Yeah, okay, yeah,
they didn't think it was a very good idea. And
you know, I can understand why.
Speaker 4 (03:48):
You can see why when you're trying to protect someone,
you go, oh, babe, I don't know if that's a
good idea, like that seems pretty risky, like also twenty
twenty before or after COVID announcement.
Speaker 2 (03:58):
Oh my gosh, yes, don't know. I just felt in
my heart that it was the right thing to do.
It was I was being I don't know, pulled in
that direction. Yeah, yeah, I just knew that if I
didn't take the risk, you'd regret it. I would, yeah,
we would. We would regret it.
Speaker 4 (04:14):
Yeah, And so tell me how that worked out, because yeah,
big risk, but you know what comes with big risk,
big reward and sometimes like you put your money where
your mouth is and then you're like, glad I did that,
because I'm in a much better position. How's the beach.
Speaker 2 (04:28):
It's lovely. I mean a lot of the time it
does rain, but no, the beach. This is our home now,
this is where we call home.
Speaker 4 (04:35):
A door and does it feel like home? Like you said,
or you were like, oh, I'm being pulled here, like
was there someone there or something there? Or you were
just like, no, we meant to live like over here.
Speaker 2 (04:45):
No, well, my husband's parents live close by. But you know,
as much as we love them, we didn't move up
to the same area for them. It's lovely to be
close to them, it really is. But yeah, we just
we knew that that's the lifestyle we wanted to live
and to give our boys. So that's what we did,
and we decided to take a risk.
Speaker 4 (05:05):
I love that. And you said you have boys. Have
you got two kids?
Speaker 2 (05:07):
Two boys? Yes? So two boys, yeah, yeah, two boys,
one thirteen, the other one is ten. But at the
time they were oh, I think maybe five and eight.
Speaker 4 (05:17):
That's crazy. How time flies, hay, Like twenty twenty feels
like yesterday at the same time as being forever a guy.
Speaker 2 (05:24):
It's crazy.
Speaker 4 (05:25):
It's actually insane. So like fast forward to now, like
you've obviously changed everything before I get into like what
you do and how much money you earn? Like what
changed because you go from going, oh, I had a
permanent job to a temporary contract and like my husband
had no job. So you get there, you've moved to
the beach. You had this temporary contract. What happened with that?
Speaker 2 (05:44):
Well, I just stayed in that temporary contract in the
hope that it would become permanent. It eventually did.
Speaker 4 (05:49):
Ah, money win, money win by life win.
Speaker 2 (05:52):
Yeah, I don't work there anymore, that's okay, Yes, And
my husband. The irony of all of this is that
at the end of two thousand nineteen, he just graduated
from a Bachelor of Aviation Management.
Speaker 4 (06:05):
Bougie.
Speaker 2 (06:06):
Yeah, But twenty twenty came and the whole world shutdown.
Speaker 4 (06:09):
So oh, that's that's not so bougie. That's not so good.
Speaker 2 (06:13):
No, that was not bougie. That was very tough, and
I did feel for him. I felt so.
Speaker 4 (06:18):
I mean, at least you were closer to the beach,
exactly exactly.
Speaker 2 (06:21):
That was a good part of it. In the company
that he was working for, he had to drop his
hours to part time to be able to study full time,
and so when the world shut down and he couldn't
get a job in aviation, he tried to get his
full time hours back and it didn't happen. And then
he tried to get a transfer to where we were
moving to and they weren't allowing that. So it was
(06:44):
very frustrating. I felt horrible for him, and I just
said to him, I said, babe, just quit. Just quit.
We'll sort it out. And that's how he ended up
with my job.
Speaker 4 (06:53):
Oh well, you know what. Sometimes big risk, big reward.
So tell me before we get any further, how's your
husband now, kid? Does he have a job again?
Speaker 2 (07:01):
He is?
Speaker 4 (07:01):
He much better? He does, he does, because that would
have been stressful.
Speaker 2 (07:05):
Yeah, it was, it was, but we just sort of
took it day by day. He does have a job
now in the aviation industry, which is really good. So
I think he's Yeah, he's quite he's quite happy.
Speaker 4 (07:13):
I love that. So now tell me a little bit
more about the personal situation. What do you do for
work and how much money do you earn.
Speaker 2 (07:20):
I used to work in healthcare, but the burnout is real,
so I had to take a step back from that
and I did that at the end of last year.
I now work for a higher education institution and at
the moment, I currently earn about eighty two thousand.
Speaker 4 (07:38):
Oh, very nice, and.
Speaker 2 (07:40):
With seventeen percent super on top of that.
Speaker 4 (07:42):
Okay, that's very sexy.
Speaker 2 (07:45):
That is a big draw card.
Speaker 4 (07:46):
I feel like higher education in general is just so underrated,
Like so many people are always like, oh my god,
what can I do for my career and then girl
higher ed like work for a university, do something like
that because their superannuation is and also like they have
salary bands and stuff. So everything just keeps moving and
I think that that's really sexy. I need to be
(08:07):
really pervy. What kind of income does your husband earn
in the aviation industry?
Speaker 2 (08:11):
He earned roughly this last financial year he learnt he
earns just on one hundred thousand, But yeah, he's in
the process of moving roles at the moment. We're just
sort of waiting for that to happen.
Speaker 4 (08:24):
Yeah, so household income of about one hundred and eighty
two grand, which is good, which is nice. What does
that I obviously don't know a lot about what you
mean when you say you're moving to the beach. I
can see guys being really perfy. She's based in Queensland,
so the beach is probably really nice. It's not some
Melbourne beach. But when you say moved to the beach,
have we moved somewhere like this is obviously in New
(08:47):
South Wales, But like, are we moving to an expensive
beach like Bondai Beach or are we like a little
bit more rural but still coastal, Like, what type of
living expenses exist in the area you're in.
Speaker 2 (08:57):
I mean, we are on the Sunshine Coast, so I
guess it depends on your budget. I mean, I personally
think that things are quite expensive.
Speaker 4 (09:06):
So tell me a little bit more about you moved.
You said that you're in the process of buying an
investment property. You obviously have like bought the family home.
You're all good to go on that front. You've got
your house, You've got your savings. What are your big
money goals? What are you currently working towards?
Speaker 2 (09:21):
Well, when I wrote in it was to get the
investment property. We found out yesterday that it's all sorted,
so we should be settling there.
Speaker 4 (09:28):
Oh so you got congrats? How exciting?
Speaker 2 (09:33):
That is really exciting. Yeah, I mean I still have
no idea what I'm doing, but we'll figure it out
as we go along.
Speaker 4 (09:40):
Tell me what do you mean when you say I
don't know what we're doing, like in terms of purchasing,
or in terms of like getting at least out, or
like just I don't even know where to start all
of that.
Speaker 2 (09:48):
All of that. I'm just trying to work out what
our new financial situation is going to be taking on
an extra loan, trying to work out an instructure, how
that's going to work, and what that's going to look
like with our money and our income and our bank accounts,
and how we're going to structure it even like you said,
(10:09):
right down to getting a tenanty and how do I
go about doing that? Yeah, so all of that stuff.
Speaker 4 (10:13):
If you've got any questions, just dm me. Turns out
I don't know a fair bit about property.
Speaker 2 (10:17):
Amazing, thank you.
Speaker 4 (10:18):
Yeah, yeah, I know a guy who knows a guy,
and I am the guy.
Speaker 2 (10:20):
I might take you up on that offer. Yeah, so
that settles next week.
Speaker 4 (10:24):
That's so exciting.
Speaker 2 (10:25):
I know it is exciting. But I think our big
money goal, and we've been speaking about this for quite
some time, is overseas property. Okay, yeah, so my husband,
luckily is a citizen of the EU.
Speaker 4 (10:38):
Oh okay, yeah, oh I see where this is going.
I was like, overseas property goal, what are you talking about?
Speaker 2 (10:44):
Yeah? Yeah, yeah, yeah, So that's where I think eventually
we want to get to.
Speaker 4 (10:49):
So you've basically married a prince room Dubai. I love
this for us, So tell me about owning property overseas.
So for those of you playing along in the EU.
How much text do you you pay money diarist?
Speaker 2 (11:01):
It's a great question. I haven't figured that out. And
does it depend on which country you are in?
Speaker 4 (11:06):
It depends on which country you earned the income in.
But if you then purchased a property, like say in Dubai,
they actually don't pay tax, which is a money win.
But if you purchased a property there, any of the
capital gains, any of the benefit to that property is
also not taxed because that would have been earned over there.
So I can see why maybe your partner is very
(11:27):
interested in owning overseas. For a lot of people, it
can be a I wouldn't say for everybody. So when
I say for a lot of people, I mean for
a lot of people who are citizens of the EU.
Like that makes sense, But I think it's each to
their own in terms of whether it's beneficial. But I
wouldn't be like listening to this podcast and going wow,
(11:48):
I never considered overseas property because that's really risky. But
if you have ties to that country and can make
it work, it could be potentially very beneficial. The thing, though,
is where you are registered as a tax and you
will have to talk to your accountant about that, because
there is the potential and I don't know property law
over there, not well enough. I have a few XPACT
(12:08):
clients so kind of know a little bit, but not
enough to advise properly. But talk to an accountant. If
you are based as a tax resident in Australia, it's
very likely that any income you earned because you didn't
spend any time in the other country is taxable based
on Australia's tax law. So it would all be about
trusts and how that's held and what that looks like,
(12:29):
and like getting the right structure as well as the
right property purchase. So like first thing I'd look at
is accountant that's good with expats, that can tell you
about the structure that you would need to be successful
in that venture.
Speaker 2 (12:41):
Good to know, yep, sorry side note, No, no, no,
that's good to know because, like I said, it's a
very long distance dream at this stage, but with how
fast time flies, I feel like it's going to be
here before you know it.
Speaker 4 (12:51):
And exactly twenty twenty was yesterday, exactly.
Speaker 2 (12:53):
We just need to get our ducks in a row.
So good to know, thank you.
Speaker 4 (12:56):
But that's really fun and that could be like a
fun adventure to go on, depending on what the financials
around it are. So big money goal is potentially owning
overseas property. What other goals are you currently working towards?
Speaker 2 (13:08):
I think just getting ourselves to that point. I've always
said that I don't want to work past fifty. I
don't know whether that's going to eventuate or not, but
I'm trying really hard. I'm trying really hard. Yeah, I
don't want to be working until I'm sixty seven. I
don't want to do that.
Speaker 4 (13:24):
I get that. All right, Let's go to a quick
break because on the flip side, I want to know
a little bit more about this plan to hopefully retire
before fifty. And also I need to ask you about investments,
because you can't just say, oh, we just settled like
or we're settling next week on an investment property and
I am not asking you about the numbers. So let's
get into that after this break. All right, we are
(13:47):
back money Rust, and I feel like this is a
really fun money story. Like you took a massive risk,
you moved from where you were living towards the beach,
your husband didn't have a job, you were working on
a temporary contract, and you've kind of had debt and
no clue about money, and you've gone in the last
five years. You have your family home, you have savings,
you're consistently investing, which by the way, I can't wait
(14:09):
to dive into. And you just bought your investment property. Like, sorry,
that's a good deal. And we just learned that you
have a household income of around one hundred and eighty
thousand dollars, which I would say is very relatable. So
I need to dig into this a little bit deeper.
Let's start with the investment property. What does it cost
to get into an investment property? Like, tell me all
(14:29):
the nitty gritty.
Speaker 2 (14:30):
Well, we bought our investment property, and it's probably in
a little bit of a rural area. We paid four
hundred and ten thousand, and I think just based where
it is. I was having a chat with the real
estate agent and she put me in contact with somebody
else who said that they could probably lease it for
about five sixty to five sec. Yeah, a week. So
(14:54):
that's where we're at with the investment property.
Speaker 4 (14:56):
And how are you feeling about that?
Speaker 2 (14:58):
I am excited, I am excited. I'm quite proud of
us for achieving this and coming this far. But again,
I still have no real idea of what we're doing
or how we're going to make it work. But yeah,
I guess we will sort of just learn as we
go along.
Speaker 4 (15:12):
And I feel like just doing some really quick maths
off the top of my head. If you purchase for
four hundred and ten thousand dollars and then you said
that you were leasing it out, was it five sixty
a week?
Speaker 2 (15:23):
Yeah, that's the hope.
Speaker 4 (15:24):
That's very nice because that's a rental yield of around
seven just over seven percent, So that is, from my
perspective as an ex financial advisor, pretty good. Damn rental property.
Was that something that you were quite strategic about, because
like rental yield, Like, if anybody's talking about rental properties,
I don't care what it looks like. If you're like, oh,
(15:46):
it's beautiful Victoria, it's got a bath, I get in
the bin. I don't even care. We are talking about
rental yield and creating wealth. We're not talking about our
family home. We're talking about the amenities of the apartment
block that you're buying in. I just want to know,
can we secure good long term tenants? Can we look
after them? And can I get a good rental yield
on that property? Sorry, if you put a property and
(16:07):
in front of me and said they cover up four ten,
it'll pay seven percent. Okay, take my money. That's a
good deal. That's a good deal. So I see why
you've jumped into this. Did you have advice for this?
Did you go shopping for this?
Speaker 2 (16:20):
How?
Speaker 1 (16:21):
Oh?
Speaker 2 (16:21):
Well, I've done a lot of this off my own back.
I've done a lot of research. I spoke to a
lot of people.
Speaker 4 (16:26):
See you said you don't know what you're doing in
the first half of this episode, and I'm uncovering that
maybe you're the mastermind behind all of it.
Speaker 2 (16:33):
Don't not a mastermind? I wouldn't say that. Oh my goodness,
but I'd like to do the research first. I questioned
my decision when I finally make it, and you know,
I wonder, Oh, it's just the right thing to do.
You know what if I have made the wrong choice.
But I was looking, well, we were looking for investment
properties every state of this country, everywhere like you name it.
(16:55):
That's where we were looking. And we eventually settled on
where we bought the property. And I think a little
bit of it was luck, A little bit of it
was planning.
Speaker 4 (17:06):
It's really funny how the more planning you do, the
luckier you get, isn't it.
Speaker 2 (17:11):
Well maybe if that's the way it goes. I love that.
Speaker 4 (17:14):
I feel like it's actually not luck. It's all strategy
and just like waiting and like people think they get lucky.
It's like, I think that we create our own luck,
and I think that putting it down to luck it
diminishes all that research that you did, because like, if
it was luck, you would have just pulled an investment
property out of the hat and be like, it's so
lucky we got one. No, that seven point one percent
(17:36):
gross yield is very attractive.
Speaker 2 (17:38):
Yeah, good point.
Speaker 4 (17:39):
We're not lucky, we're strategic. We are strategic, so you
don't have to obviously tell me more about that. So
four hundred and ten thousand dollars purchase price, what type
of deposit did you have to cough up for that?
Speaker 2 (17:49):
So we had to pull a bit of equity from
our residential property where we live, and I don't exactly
know how our broker worked out the numbers, but we
ended up pulling a hundre thirty five thousand from our
mortgage and we use that as a deposit.
Speaker 4 (18:04):
Yep, good deal. And that's a good deal. So you
didn't have to cough up any actual heart cash. You
just worked on equity. Now, you would have purchased that
property that we're talking about, this family home, within the
last five years. When did you purchase your family home?
Was I in twenty twenty when you moved to the beach?
Speaker 2 (18:18):
No, that was in twenty twenty one.
Speaker 4 (18:21):
Okay, so I've just got questions, good questions, I promise.
How much did you purchase your family home for?
Speaker 2 (18:27):
We purchased it for seven hundred and forty six thousand.
When we sold our house to move to the beach.
We had a nice little profit at that time, and
I think it was the profit that we made from
that house was about one hundred and thirty thousand, which
we used to put down on our house that we
live in now. Yeah.
Speaker 4 (18:47):
Yeah, So you purchased that for seven hundred and forty
six thousand dollars and now four ish years later, you've
bought an investment property, which tells me you would probably
have a recent bank valuation on the property that you
live in. What is it worth today?
Speaker 2 (19:01):
I checked just the other day and it was just
over the mill. Oh excuse me, yeah, I think it
was like a million and sixty thousand or something like that.
Speaker 4 (19:11):
That is a money win. So you've increased your equity
in your property within four years by like a literally
quarter of a million dollars money win, and then you
were able to use that to get into your next property.
If I go back to the end of twenty twenty,
when you took that really big leap of faith and
say we're moving to the beach, and I got to
be like, hey, so money diarist, you will have purchased
(19:33):
your property. You would have like about two hundred I
reckon in my head, just doing some mass you probably
had about two hundred thousand dollars worth of equity. You'll
take out one hundred and thirty and buy your first
investment property. Is that the reality you saw happening for you?
Speaker 2 (19:44):
You got at all? Oh my goodness, not at all.
Like like I said when I wrote in we were
in debt, like we had two car loans. Oh sorry,
maybe we just had one car loan at the time,
but we were terrible with money. The only way I
thought that we could get ahead would be to take
a loan out or redraw on the mortgage, or we
(20:06):
had no savings whatsoever, like at that time, we were
living week to week.
Speaker 4 (20:10):
This makes me so excited you've done all of this.
Speaker 2 (20:13):
Yeah, it's quite exciting and heartwarming when you actually say
it out loud, like you it's your lived experience.
Speaker 4 (20:18):
But you don't really you don't give yourself credit. No
one ever does.
Speaker 2 (20:22):
Yeah, so I guess too. We have higher paying jobs
than we did back then as well, I suppose, which
obviously helps. But it was the podcast one of my
good friends, was it actually Yeah, yeah, so one of
my good friends. She's the only person I told that
I was coming on the show, So shout out to you. Gosh,
she knows who she is.
Speaker 4 (20:38):
Hi, friend, Hi, thank you for introducing my newest friend
to me.
Speaker 2 (20:42):
She got me onto you and your podcast and the
way that it was explained on She's on the Money,
I'm like, oh my gosh, it just makes so much sense.
Speaker 4 (20:49):
It doesn't have to be that deep, does her.
Speaker 2 (20:50):
No, And when it makes sense and it's simplified, it
gives you the drive to go out and do it,
to save your money and to be more strategic with
where you place your money in what you're spending it on,
and yeah, that's just I never thought that we would
be here and have that amount of money like just
there and available, like the equity in our property. Like
(21:12):
I never thought, what does that feel like?
Speaker 4 (21:14):
Because I feel like when you're just like because at
the time, back in twenty twenty, you honestly, like I
can see, you were just doing the best that your
bloody could. You're like, let's move the family to the beach.
That'll be a really good decision. Like you had a mortgage,
so like you were in an okay position, but you
still had debt, you still had your car loan, all
of that. That can feel overwhelming, and I think it
puts a lot more of a at tax on your
(21:37):
well being than you think because you go, oh, well
the debt doesn't matter, like we need the car, we'll
pay it off one day, like Victoria, it's not that deep.
But like if you compare your well being to now
from then, what kind of change does that look like?
Are you just like a bit more comfortable? You're like, no,
I'm still stressing, Like where are we at?
Speaker 2 (21:53):
That was a pivotal moment, I think, and I think
that had to happen for us, for the change to happen.
I mean, don't get me wrong, I still get worried
and I still stress a little bit internally when it
comes to finance. Is I just like I've got my
budget scribbled down on this little piece of paper, like
with highlighted.
Speaker 4 (22:12):
Is that your budget?
Speaker 2 (22:13):
That's my budget? Can I glow that up?
Speaker 4 (22:14):
I'm going to gift you my money masterclass, Like, that's
not your budget anymore. I'm going to gift you my
money with master Class. And you're going to do that
and you're going to put everything in there, and then
it's going to tell you exactly what bank account you
need to put things in, what your mortgages are going
to look like. It's going to clean all of that up.
That is cute, I promise that is cute. Like, guys,
she just held up to the screen and I can't
show you. It's like a notebook with all like pen writing,
(22:36):
but like color coordinated highlighterup, very very cute. But I
can glow that up easily. I can help look.
Speaker 2 (22:42):
Thank you, Oh my gosh, it brought tears to my eyes.
Thank you so being silly.
Speaker 4 (22:45):
And also, what a better time to redo your budget
than right before your new property settles, so you know
exactly what's coming out, and it's automated. I don't want
to flex it too much, but like, all you have
to do is put in your costs and then I've
written all of the like coding in the background so
that it just automatically will be like, Okay, well this
percentage of your income goes here in this and yeah,
(23:06):
you're going to be fine. This is going to be great.
Speaker 2 (23:09):
Thank you so much. That is so kind.
Speaker 4 (23:11):
So tell me a bit more.
Speaker 2 (23:12):
So.
Speaker 4 (23:12):
We've got the investment property, We've got some equity in
our family home. You said that you're consistently investing though,
so have you got a share portfolio? What's going on there?
Speaker 2 (23:21):
I have a Shara's account.
Speaker 4 (23:22):
I'll stop it, of course you do again started by
you girls. We try, we try. We're trying to be
like a cult. But as I was saying to my team,
we need to like become the Pyramid scheme or something,
because this is not profitable.
Speaker 2 (23:35):
Yeah, you got to make a buck out of this.
Speaker 4 (23:36):
Yeah, Like we've got to really find a way to
take advantage instead of just making people take advantage of
their own situations. So you've got your share Za's account
and what does that look like?
Speaker 2 (23:47):
So we invest. Obviously, my husband and my pay is combined,
so this is not just all my pay it is.
So we invest one hundred dollars a fortnight in two
Chareza's I started it way way back when and share
these first kame on the podcast and I think I
may have like fifty dollars in there, and I just
let it sit and I was just like, oh whatever,
But then I continued to listen and again it reignited
(24:09):
like the flame in my belly. I'm like, I got
to do this. Let's get back on the investing train.
So yes, we invest one hundred dollars a fortnight. And
that's I mean, it's nothing big. It's sitting at about
three and a half thousand.
Speaker 4 (24:18):
Sorry, that is massive. You are consistently investing. You just
told me you're a mum of a ten and a
thirteen year old, you have a family income of about
one hundred and eighty thousand dollars. You've got one mooad
you're about to take on another. Sorry, that is really good.
What types of investments are you picking up on that platform?
You're doing ETFs you're doing direct shares, Like, where are
you getting this advice from you?
Speaker 5 (24:38):
I'm getting the advice from you.
Speaker 4 (24:39):
No, no, no, no, no no, let's backtrack. I would never give
you advice on what to pick, but I would present
a number of options and then you picked. Why did
you pick the ones that you picked?
Speaker 2 (24:49):
Well, just by listening to the podcast, the ETFs are
obviously a mixed bag, a mix bucket of a little
sample pack of everything. So that's what I decided to
go with.
Speaker 5 (25:01):
So I've got.
Speaker 2 (25:01):
A I think maybe three three ETFs with Australian chairs.
I think I might have two or three with international
shares ETFs, and.
Speaker 5 (25:14):
Then I think I've got one more. I've got one
with common.
Speaker 2 (25:17):
Wealth that's their direct share with them. And then there's
something else that I just took a random punt on.
Speaker 4 (25:23):
See, I love this. This is where it gets a
little bit fun, right.
Speaker 5 (25:26):
It was like two dollars a share. I was like,
let's let's just see how this goes.
Speaker 4 (25:30):
That's cheaper than milk.
Speaker 5 (25:31):
It is cheaper than milk, yes, and it's we're in
the green.
Speaker 4 (25:34):
I love this for us And what made you want
to invest in that one?
Speaker 5 (25:37):
I just saw it and I was like, oh, yeah,
why not.
Speaker 4 (25:39):
I love that for us. All right, so we're going
to flip back around and talk about debt again. So
we know that you've got that four hundred and ten
thousand dollars mortgage. What do you still owe on your
family home?
Speaker 2 (25:49):
We oh, I checked yesterday and it was five hundred
and sixty three thousand.
Speaker 4 (25:54):
Okay, that's very nice to have purchased at seven hundred
and forty six. And you said you had a deposit
of about one thirty to be down to five sixty three.
Have you guys aggressively been paying that off or like
really prioritizing it.
Speaker 5 (26:07):
Yeah, we have.
Speaker 2 (26:08):
It would have been probably a little bit less, but
we took some money out. We redrew some money to
go on an overseas holiday for.
Speaker 5 (26:15):
My husband's birthday. So that's what we did. But yeah,
essentially what we do is we live off my husband's.
Speaker 2 (26:21):
Pay, and my pay just purely goes straight to the mortgage.
Speaker 4 (26:25):
I love that. So is that something that you guys
are consciously doing so that you get closer to retiring
at fifty ish? Because I know that you said, look,
I really don't want to work till i'm sixty seven
in the first half of this episode, and like, I
just feel like the more I'm digging into your little
financial situation, the more I'm like, Oh, she's good. Oh
she's good. So what does that look like to potentially
(26:47):
be retiring at fifty?
Speaker 2 (26:49):
Well, before we decided to take on the investment property,
I crunch some numbers, and if I've worked it out right,
we would have with what I was just getting paid
going straight onto the mortgage, we would have had that
paid out in either ten to eleven years. So that
would mean I am not fifty. But now that we've
(27:10):
taken on the investment property, the broker that we're working with,
he's really lovely love.
Speaker 5 (27:15):
Yeah.
Speaker 2 (27:16):
So he's saying to us that with the way that
we can structure the loans, we could potentially have our
property paid off in less time than that. So yeah, again,
it's just working all of that out and finding our groove.
Speaker 4 (27:28):
Love love, And I feel like that's exactly how you
have to do it. You can't just like sort it
out all in a day, like takes a little bit
of strategy. While we're still on their like investment debt conversation.
You work for a higher education institution and you get
seventeen percent super. Talk to me about your super? What's
that looking like?
Speaker 2 (27:47):
I'm actually quite proud of this because I didn't realize
how good it was until I started listening to the
podcast and you were giving averages of like people women
in my age group where our supers should be. But yeah,
check yours and I have two hundred and fifty six thousand.
Speaker 4 (28:03):
Two hundred and fifty six thousand dollars in super. What
have you been doing? Have you been like additionally contributing?
Have you been working three jobs? Have you been doing backflips?
Speaker 2 (28:12):
Like?
Speaker 4 (28:12):
What have you been doing?
Speaker 5 (28:13):
To be honest, I don't really know how it got there.
Speaker 4 (28:16):
Compound interest, baby, because if it was like less than
ten years ago, it would have been half that I
can always guarantee.
Speaker 2 (28:21):
Yeah, I think you know, I'm sort of at that
age where it really starts to kick in, the compound
interest really starts to kick in. But I have added
voluntary contributions and I have for most of my working career,
but it's never really been huge amounts.
Speaker 5 (28:36):
It was, you know, sort of fifty dollars.
Speaker 4 (28:37):
A year, hundred dollars Dad up, didn't that it does
it really does. You don't notice at the time and
you think this is fruitless, but one hundred dollars here
and there, I promise puts you in a better position.
So to contextualize that for everybody listening, the average superannuation
balance for someone between the age of thirty five and
thirty nine, and you are thirty six money diarists is
(28:57):
seventy one thousand, six hundred and eighty six dollars if
you're a female and nine eight hundred and twenty two
dollars if you're a male. And you are running rings
around both of those.
Speaker 5 (29:07):
Yeah, yeah, I'm quite proud of that one.
Speaker 4 (29:09):
I must admit love and to be a little bit pervy.
Do you and your husband talk about superannuation as a
retirement strategy? If so, what does his look like?
Speaker 5 (29:18):
Is less than mine?
Speaker 4 (29:20):
We love to see women in stam.
Speaker 2 (29:22):
Yeah, we do talk about super often, and it obviously
will be a part of our retirement plan.
Speaker 4 (29:29):
But not the sole INTI well, you can't access it
at fifty, so it can't be your entire retirement plan.
Speaker 2 (29:35):
And you know that was part of my money story
I think with my mum and dad was you know,
buy house you're living at your retire and you live
off your super I think gone are the days that
we can do that.
Speaker 4 (29:46):
It's heartbreaking, isn't it. It just doesn't work that way anymore. Yeah,
And that's why we have to kind of pivot and
really think about what other investment opportunities are out there.
Should I have an investment portfolio, Should I be looking
at an investment property? How can I get myself ahead?
And it looks like you are, like that is so
flipping exciting. Talk to me about your best money habit though,
because I feel like you're another quiet achiever. Like if
(30:07):
I was going to put you in a bucket, you'd
be like, oh no, I'm not that good. And I
feel like we're about to have an argument as well,
which is going to be really fun time. You're a
quiet achiever. You we're like, oh, I'm a be but like, girl, sorry,
you've gone in the last five years from not having
your dream home to having your dream home, having an
investment property, being able to use equity to do that.
You've got two hundred and fifty six thousand dollars in soupers,
(30:27):
so dollars, what are your good money habits?
Speaker 5 (30:30):
I think I've thought long and hard about this one.
Speaker 2 (30:33):
And I think my good money habit is also my
bad money habit.
Speaker 5 (30:37):
It's the hyper focus.
Speaker 2 (30:39):
It's the hyper focus on if I want to save
or if you're working towards a goal, I will move.
Speaker 5 (30:46):
Heaven earth to make that happen.
Speaker 2 (30:48):
So I think that that's yeah, that's also that's probably
my best money habit.
Speaker 4 (30:52):
On the flip side, what are your bad money habit?
Speaker 2 (30:55):
If I want something or if I see something, Say,
you know, I went and bought a new wall at
the other day. I didn't need any wallet, but I
was focused on it and I thought, I'm just going
to go get it.
Speaker 5 (31:04):
So I do.
Speaker 2 (31:05):
Try to put that twenty four hours in between my
spending and myself.
Speaker 5 (31:11):
But sometimes I'm just like, Nope, you're going to do it.
Speaker 4 (31:13):
No, Well, sometimes we're a little bit impulsive. But I
need to know a little bit more about this, be
at the very start, because I read you your money
story and you were like, oh, that's pretty impressive, let's
be honest, And I was like, absolutely, you have been
working really hard. You've got good incomes, you've got good superannuation,
you've got you know, your investment property, you've got your
(31:33):
family home. You're investing on the side. Literally, I can
see the budget really well, why not higher? And what
would make you hire? Like, what would you have to
be doing to be an a at money?
Speaker 2 (31:46):
I think I would probably like to invest more maybe, Yeah,
just understand that a little bit better rather than just,
you know, just one hundred dollars afore and I just
keep putting it in.
Speaker 5 (31:58):
I'd like to understand that a little bit more.
Speaker 2 (32:00):
And I would also like to understand, like, although I
feel like I'm okay with a budget, just staying on
top of that because sometimes I feel like that can
sort of get away from me. Yeah, So just being
able to stay on top of that more, I think
would push me up. I love that.
Speaker 4 (32:16):
And I feel like I'm semi helping here because I've
set you up with our money master class in the background,
and I feel like all of those things can basically
be solved, and so I'm very excited to see how
you go with this.
Speaker 5 (32:27):
You're not semi helping, You're all the way helping.
Speaker 4 (32:29):
Look, I'm really trying. I'm really trying, But at the
end of the day, you actually have to do the work.
So I made the spreadsheet, but you've actually got to
sit down. You've got to do the budget like you've
got a fility in and you've got to be consistent
with it. So like the work part, that's you, and
so I basically just gave you homework. So you're welcome.
Speaker 5 (32:46):
Thanks teacher.
Speaker 4 (32:47):
Oh my god, I have loved this money diary. Thank
you so much. I wish we had so much more
time because I feel like we could yap about literally
all of this until the cows come home. But I
really appreciated learning so much about your journey and just
what you're up to and how you're doing it, because
it's just really inspiring. So thank you so much.
Speaker 5 (33:03):
Oh, thank you so much for having me.
Speaker 4 (33:05):
Of course, the advice shared on She's on the Money
is general in nature and does not consider your individual circumstances.
She's on the Money exists purely for educational purposes and
should not be relied upon to make an investment or
financial decision. If you do choose to buy a financial product,
(33:28):
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 Sheper Pty Ltd. A b
N three two one six four nine two seven seven
zero eight AFSL four five one two eight nine
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