Hello.
My name's Santasha Nabananga Bamblet. I'm a proud yr the
Order Kerney Whoalbury and a waddery woman. And before we get started on She's on the Money podcast, I would like to acknowledge the traditional custodians of the land of which this podcast is recorded on a wondery country, acknowledging the elders, the ancestors and the next generation coming through as this podcast is about connecting, empowering, knowledge sharing and the storytelling of you to make a difference for today and lasting impact for tomorrow.
Let's get into it.
She's on the Money, She's on the Money.
Before I read out this money, Darry, I just want to give you guys a bit of a content warning. This week's episode does discuss in a bit more detail than usual domestic abuse, and I think it's really important to have that conversation in saying that if you aren't ready for that conversation, you're not in the mood or it's not a topic that you would like to broach today. We have so many episodes backlogged for you that you
can go back and listen to. I promise there's literally one hundreds so just stop the recording here and jump onto another episode. But if you're staying one, thank you. I think that this is a beautiful conversation that I've
had with our Money direst today. But it's also really worth noting that on average, one woman a week is murdered by her current or former partner, and last year, five six hundred and six women, which averages to fifteen women per day, were hospitalized due to family and domestic violence. One in four women twenty seven percent have experienced violence, emotional abuse, or economic abuse by cohabitating partners since the
age of fifteen. So this isn't just a conversation for today, It's a broad conversation that we really need to be having. So here's the message that I got this week. Hi, Victoria. I grew up with a domestic abuser as a father and lived in a refuge with my mum and brothers for eight months. Not only was I the first in my family to ever go to university, I now have a bachelor's and a master's degree and work my absolute
dream job as a teacher. I completed my masters while having a baby and would love to tell my story Money Diarist, what.
The heck, it sounds really surreal to hear that back. Actually, it sounds like it's not even my story. Like I listen to that and think, wow, that sounds amazing, and then I'm like, oh my gosh, that's me.
That's you. That's actually one of my favorite parts of Money Diaries is that moment where I get to read that and nobody else can see it, because obviously we don't video record Money Diaries because that would ruin the anonymity of it. Right, Yeah, I can see you, And it's very wholesome watching people have this story is read back to them because of how they're like, oh wait, that's kind of cool, isn't it.
Yeah.
I love that moment of reflection where they're like, I'm kind of cool. I know, like I've done some stuff. I've done some things like I actually killed it. Hey.
Yeah. I think for me, like, I'm always really hard on myself, and I think, like, you know, what do I have to show for all these years that I've been working. But hearing that back, I think, Wow, like I've accomplished a lot.
Yes you have, my friend, let's jump into a diary. I have so many questions for you. But the first one is what would you grade your money habits if I asked you to give them a grade from A through to F.
Okay, this was a bit tricky because at the moment, as a teacher, I am doing reports for my students, and the criteria is very set out. What does a C look like? What does a B look like? So I have given myself a B, but I was leading towards a C. But I've decided on a BE.
All Right, We'll learn more about that as the episode progresses, But I want to know now, my friend, can you tell me a little bit more about your money story.
I grew up mostly with a single mum. After we escaped from domestic violence. It was just myself, my mum, and my two brothers. We lived in a women and children's refuge for about eight months when I was about seven years old, and then after that we moved into kind of government housing where we lived for most of my life. So we spent a long time, I guess, rebuilding our lives. When we escaped that situation, we had absolutely nothing. We had no furniture, we had no clothing.
We really only had each other. I really saw money as a privilege, and I guess never really wanted to take advantage of it because I saw how hard my mom worked for it. I've also got some really vivid memories where we would have, say, rented or put an item like a washing machine on finance and then those payments can be made, So those things were I guess taken away. So I've always seen money as a privilege and something that once you have it, you need to
really look after it and be careful with it. I guess on the flip side of that, though, my mom she really did give us everything that she could a queen. Absolutely, I never felt like I missed out. She took advantage of things like layby to make sure that we always had what she thought we deserved. You know, at Christmas and birthdays, we even sometimes got things from like charities.
But even talking to my mom now as an adult, she always says to me, you know, she always felt really guilty for taking that because she felt like there was other families who needed it so much more than
we did. But those things really saved us at that time because without those things, you know, we wouldn't have had school uniforms, we wouldn't have had school supplies, and my Mom did everything she could, but as I got older, I really wanted to start earning my own money, mainly so I could help out and I guess take some of that financial burden off my mom. But I didn't really think about the future. There was no forward planning.
It was just I would work, I would save, I would spend, and then I would to repeat that cycle. So I was really lucky in the sense that I got to do a lot of travel in that time. I was able to fund my lifestyle where I was at UNI as well without having to rely on anyone else, obviously with a heck stet to go along with it. But I was also told that, like, credit cards are really bad, and I think that was, I guess a savior for me because I always wanted to stay really
clear of it. So I worked all the way through UNI, and then after UNI, I was like, well, I just want to keep working, So that's what I did. And then when I got to my mid twenties, it's just about to turn twenty five, I kind of looked at it and thought, I've been working since I was, you know, thirteen years old, and what do I have. So that's when I decided to make a change. And I said to my now husband that I want to go back
to UNI. I want to do something that I'm really passionate about and that's going to set me up financially. And then I found it. I was pregnant. Congrat thank you. So I said to my husband, you know, obviously this is going.
To be challenging.
Yes, challenging is a word for it. But you know, I said to him, are you still happy for me to go back to UNI? It means going part time even when I returned from Attorney Leaf And he said, absolutely, a supportive king, I love this, absolutely yes. So basically I went back to UNI, and then I had my son, and then when I did go back to work, it was just a couple of days a week while still doing UNI, which was technically full time, and having my son as well.
Because he didn't have enough on with a newborn.
No. I know, I look back at now and I'm like, how did I do that? I would literally have him asleep on me with my laptop like over him, completing my assignments. And I think about it now and I'm like, how did I even get through that time?
But do you look back and go holy heck, I'm so proud of myself.
Yeah.
I think my graduation day was that day where I was like, wow, you know I made it, you did it. Yeah, because there was times, you know, especially financial, where it was hard. And I said to my husband like, I can defer, you know, I can put a pause on it, and I can go back and work more hours if we need to. But he was really amazing and saying, no, you know, get through it, get it done, and then when we're on the other side of it is when we'll see the benefits.
I love it. That's what we want to hear. That's the type of relationship we want a champion, right, Yeah, So tell me a little bit more. I want to be asking pervy details. How old are you now?
So I'm just about to turn twenty nine.
Twenty nine, and you've achieved all this already, you look very young. But I was like, oh, she has to be in her thirties like now, obviously, no, she has to be where I'm at, Like, no way. And how old were you when you had your bambinie?
So he came just before I ten twenty six?
Oh my gosh, so.
He's three now?
Three is such a special age. I feel like they think they're so funny at three.
Oh he thinks he's like fourteen.
Yeah, it's like three going on thirteen. He's a genius. Yeah, literally, Oh my gosh, all right, is it okay if I peer back to the conversation before we go further in the Money Diary to talk a bit more about domestic violence?
Absolutely?
I feel like this is a topic that we don't talk about enough. And recently one of my good friends, Moana Hope, opened up on social media about her upbringing and how she went through a very dramatic domestic violence situation. And it's one of those things that you know you mentioned before you were like, we left, I had a domestic abuser as a father. My mom, you know, took us to a refuge and I lived there for eight months.
And I know immediately that that's not where the story just ended, right, Like, obviously that might have been the final straw, the final time she left, the final time it worked. But growing up you said you were about seven, was that something that you were super aware of? Was that a shock to you?
Like?
How long was that process before your mum was like I can't do this? We are absolutely going to move out. We're going to have nothing, but we will have each other, and that's the best thing for my family. Like, how did she make that decision that you're aware of?
Good question. So obviously I was quite young. I don't remember a whole lot of it, but as an adult, my mum and I have had a lot more open conversations about it. They were together for ten years and my mom fell pregnant with my brother when she was only seventeen, so she had the kind of mentality that was like, I made my bed, I need to lie in it. So she kind of was like, well, this is what I guess the consequences of my actions is now that I'm stuck in a relationship with this man
because he's the father of my children. So it went on for quite a while. I remember leaving more than just the one time. I remember one night in particular, very vividly, which I won't get into the details, but you know, I remember there being police involved, I remember there being other people. I remember us having to just get up and just leave. And then within a matter of days we were doing the same thing again because we had been found. And that happened multiple times before
the point that. We then went into police protection and moved into the refuge where we were able to stay for eight months, and luckily we were able to stay in our same state. My mum, that's where she drew the line. She said, you know, I'm not going to leave my family. But we did have to move around a lot before we were able to find that home base. Afterwards, we had to go through a lot of court proceedings.
My father actually ended up going to prison, which I guess is a bit of a win because he had some consequences.
Massive win, Yeah, because it doesn't often happen. No, exactly, it doesn't often happen, and that's one of the worst parts, Like people get away with this and they need to be held accountable for their actions.
Yeah, and you know, it's sad to think that it took ten years of her going through that for it to get to that point. But luckily she had some people championing for her. She had some of our local police who really put the work in for that to support her and to support us as well, so we were able to get that and then once he was in prison, we were able to start I guess, rebuilding our lives and get back to a sense of security.
But I still very, very vividly remember the day that I found out that he got out of prison, and I guess the fear that came over me, even as such a small child, because I remembered the amount of times that we had to completely leave our lives behind in hopes of finding something better and it not working out.
Yeah, wow, what does that look like? Now, I'm going to draw a grand assumption that you're probably not in contact with your dad.
No, absolutely not. So he has reached out to me on Facebook before, and I've just ignored the messages. Usually it's a guilt trip.
Now you don't get that privilege, sir.
No, you know, I've never even responded or given him the time of day. My brothers, on the other hand, have reached out to him and have spoken to him on occasion. But I've always been really blunt with my brothers and said, my life is not for him to know unless I decide that. So they've been really good at honoring that. So he doesn't know that I have
a son. He doesn't know that I'm married, and when I did get married on Facebook, I made sure that I blocked him and all of his family, so they didn't see my change of name, so that I wasn't dragging anyone else into that as well.
I love that you protect your family so fiercely, Yes, but it also breaks my heart that you have to do that, Like it makes me really sad that that's a necessary step that now, as a twenty nine year old adult, having went through that situation at the age of seven, you're now still having to protect your family from these situations. Are your brothers younger than you?
One is older and one is younger?
And tell me now about your mind. How's mum? Is she doing well?
Like?
What does she get up to?
Yeah, she's amazing. She's not married, but she's been with her partner for gosh, like fifteen years probably more. Oh, I love this, Yes, And she since had another child, So when I was sixteen, she had another baby. So I've got an even younger brother and he's amazing as well. But she is just, I honestly don't know how to describe it, Like she's thriving. She really is like everything that she went through. Honestly, if you met her, she's
the nicest, sweetest, happiest person that you'll ever meet. Because she just sees that she went through all this, but she came out on the other side, and from that, you know, she has these three beautiful children that she loves more than anything in the whole world. And every single time I see her, I feel that love. Every single time I speak to her, I feel that love. And now I'm able to see that love that she gives to my son as well her grandson.
Oh, I'm obsessed. I love this. It's so nice to have a conversation with somebody about a circum stance that arguably happened so long ago. Because there are going to be people in our community who are kind of in the midst of this. They might have tried to leave, They might have left a number of times. They might be, you know, in the refuge right now, going does this get any better? I cannot see the light at the
end of the tunnel. And now you're telling me about how your mom is thriving and she has a gorgeous partner, and she's had more babies and she's just living her best life. Like, look at the daughter she has. Now she has a grandson. Like all of this stuff that I think a lot of people don't get to see like they don't get to see it in the moment because, as you said before, you leave with literally nothing but each other and now you've rebuilt your lives like Ah, just makes me so happy for you.
I know. And she has honestly three kids, even though I'm the only one who went to university, She's got three kids who are successful, who are independent. You know, she can look back and think that she did a really good job with.
Them, Adore, And she did. She did the best she could with everything that she had.
She did absolutely.
Ah. All right, I want to know a little bit more about your money story, so let's jump back into the questions. Thank you for sharing that though, I think it's really really powerful. Tell me more. In your letter you said I have my absolute dream job as a teacher. So tell me what do you do for work specifically and how much money do you earn?
So I'm a teacher in Western Australia, So at the moment I earn eighty five and twenty dollars and as of January next year that goes up to ninety two thousand and eighty dollars.
Very nice. Does that include or exclude super?
That excludes super? Oh?
So super's on top. Yes, Oh that's very nice.
And the holidays are very nice as well.
Yeah, I feel like obviously teachers do so much more work than people give them credit for, so like the holidays would be nice. But I'm assuming you're doing a lot of planning during that time. But at least you don't have to be at work.
Yes, exactly, I can do it when I feel like it.
That's an absolute weird Now, tell me a bit more about your big money goals. What are you currently working towards.
This was a bit of a tricky question because there's nothing in particular at the moment that I'm saving for. But I guess my really big money goal is to create a bit of financial stability for my son and to set him up and get him started so that once he reaches an age where he can have access to some money to get him started into adulthood. He's got that there, but that also he has the financial literacy to understand how he can spend or save or invest that money.
I'm obsessed. I'm obsessed about seven year old. You never thought that this would be a possibility, Like, that's crazy to think that you're now talking about creating financial stability for a three year old, like, ah, I'm obsessed. I love it. Let's go to a really quick break because I have so many questions for you, but I think we need to grab a cover and come back after this short break. All right, money Diaris, let's jump straight
back into it. Before you mentioned that you're working towards creating some financial stability for your son and you kind of want to get him to understand investments and savings and how all that works. Do you currently have any investments? If so, what are they? If not, what's the plan?
So for myself, I've got my super so at the moment, I have two super accounts, which is a total of forty one, five hundred and four dollars, and then I have started doubling in rays as well, so at the moment, I've got six hundred dollars in race.
Tell me why you have two super accounts.
When I became a teacher, I started doing casual and so I signed up with the government super fund. But I didn't have any insurances on that because I was casual, So I kept my original superfund until I became full time and then my insurance is kicked in. But I haven't sat down and compared them. Just briefly looking at them. There are some differences, so I just want to make sure that I'm choosing the one that is the best
for me. I just haven't had the time to sit through and go through and compare them.
At this stage, I'm obsessed. I was like, I wonder why she has two Is it because she hasn't done it or is it because one has insurance and the other doesn't. And you said that that's the reason, and that's a very good reason to have two super accounts. I talk a lot on the podcast, obviously about the importance of insurance, especially when you have bambinies. It's something that I'm currently going through the process of revisiting because
my needs are changing. Right Like, historically I just had a boyfriend and we rented a house when I established all of my insurances. Now we have a mortgage, and yes, I have updated my insurances since then, but my needs have changed dramatically. Now I'm like, ah, I'm having a baby next year. What the heck? Like, I'm going to need a lot more life insurance. What happens if something
happened to me? What happens if something happens to my husband and I'm currently working I'll tell you who it is because I feel like I'm going to get a lot of DMS about this. I'm currently working with Fuel from Sky Wealth, and I'll put all of the info
for him in the show notes. But money Dirist, I'm going to introduce you to him too, so he can have a look at everything for you and go, this is what you should be doing, because if you're going to get insurance, especially personal insurances like life insurance, TPD, income protection, you're looking at, you know, death insurance. I think it's so important to get it right the first time because retail policies are very different to the policies
that you can get with a financial advisor. And I feel like financial advice for the longest time has been exorbitantly prohibitive. It's one of the reasons I left the industry as an advisor because I was like, I can't justifiably have to charge what I have to charge, Like I was having to charge between three and a half thousand and eight thousand dollars for the advice I was giving, not because I was taking the mickey, but because it
was too expensive. And feel he just does insurance. So like your fees are about three ninety five, that's money in, it's money in. Anyway, we'll work it out so that you don't have to pay fees, but don't tell anybody else. So moving on money diarist, Do you have any debts? If so, what are they tell me about them?
Yes? I do. Unfortunately I have a central In debt which is three hundred eighty seven dollars. Other than that, no, I have no other debts besides my hex which is about thirty three nine hundred dollars.
Tell me how you ended up with a Centilink debt? What does that mean? How does that work? I feel like every time someone says I have a cent Link debt, it's always this really frustrating tale of it being cent Link's fault. So tell me.
So we get childcare subsidy because my son goes to daycare three days a week, and apparently they overpaid us. So now we owed them seven hundred and eighty dollars, which I wasn't aware of until my childcare subsidy came out at a lower rate I locked into Centilink, and then they told me that I owed them seven hundred and eighty.
Dollars ew And were you mad about that? Because I would have been really mad about that.
I was more mad that I didn't get any notification, Like the notification was just inside Centilink, which I never log into sent link to just check my notifications.
Yeah, why would you. I'm just doing what I was meant to do.
Right, And then I would have just paid it, but they had already started taking it out of my upcoming childcare subsidy payments, So I'm just leaving it until it's done. And it's about halfway through now, so it should be gone soon.
Oh easy, So you don't have to like cough up the extra three hundred ishbucks right now, like they're just going to even it out for you.
Yeah, they just take out twenty percent of what you would normally get for your childcare subsidy until that amount has paid off.
Okay, I'm not too mad about that. I thought that they were going to slam you with a bill that you hadn't expected, and I would have been like, guys, it's cost of living crisis. Cut that out absolutely, I know.
But it's frustrating because your childcare subsidy is based off your estimate of how much you earn in the year.
I was about to ask about this.
And then obviously once you submit your tax return, then they even it out. Yeah okay, So essentially they had paid us more than what we were entitled to, so then we have to pay them back.
Yeah, okay, that makes sense. While we here talking about childcare, as somebody who is looking into childcare at the moment and has been horrified at how much it costs, tell me about your child care experience. You're in wa So what do you pay? Like you said that your bambini is in care three days a week, What does that look like and what do you get? I need the pervy beats.
So his daycare is a bit more expensive than others in our area. So I think it's about one hundred and thirty dollars a day. We get back seventy four percent of that through the childcare subsidy. And like I said, he goes three days a week. We're really lucky that we've got our parents on either side have him one day a week as well. Oh, very nice, so we don't have to pay for those two extra days. But basically it's one hundred and thirty dollars a day, we
get back seventy four. So we end up paying about two hundred and thirty dollars a fortnite, which covers him for six days. That includes his food while he's there, his nappies when he was in the hiss, milk for his bottles, and we pretty much just drop him with his spat change of clothes and pick him up at the end of the day.
Oh that's a money win. Because some childcare centers don't provide food and you have to send them with a lunch box, or don't provide formula or nappies. I feel like I started this conversation on social media recently because in the area that I live in, childcare is an elite sport. It is a competition. You have to have your name down on the childcare list before the child's born,
and I found that really jarring. I was like going to these childcare center like tour things and looking at these childcare centers, going well, I don't know what I'm looking for, Like, I don't have any kids. Am I even allowed in here? I don't have a working with children. I do actually have a working with children's check, but you know what I mean, I'm like how are you just letting some random walk through your center because they
said they were pregnant. Anyway, it was interesting seeing the difference between one center, which we have gone with, because I kind of like the comprehensiveness of it, and I'm assuming this is why you might have chosen yours takes a lot of mental load off. Like they do the nappies, they do the formula, they do the food, like everything
just made a lot of sense to me. But they're more expensive, whereas another place was like, oh, well, you supply nappies and a lunch box every day, and I was like, oh my god, like I'm literally going to be a working mum. That sounds like a commitment that I'm not ready for. So absolutely essentially, like if I've just done some quick maths, if you're paying one thirty a day and you get back seventy four percent, that means childcare daily is costing you about thirty three dollars
eighty thirty four dollars. Yes, so that's not too bad when you know, I guess, think about it, how has your budget changed because of childcare?
I guess before he started going three days a week, when I had unipracts my mom and my mother in law would actually split and have him three days in two days, so we didn't have to worry about childcare when I was only working part time. It was only when I started working full time that we then put him in for three days. So it was quite I guess, easy in the sense that my income increased dramatically, and
then we had this additional expense on there as well. Yeah, and because he goes the same amount of days every week, it's the same amount that comes out every fortnight, and I have it set up so that it comes out the day that I get paid.
Yeah.
Great, the money comes in and then the money's just gone.
I want to ask more about the childcare stuff because one I'm pervy, but two the amount of times I've spoken to people that are like, I have no idea how this works. So if your baby is going three days a week, that means that total without any rebates, it's about three hundred and ninety dollars a week. Is that what's leaving your account and then you get some back through sentiling or do you only have to have the thirty three eighty a day leave your account? Like,
what does that actually? I guess look like cash flow wise.
So the childcare subsidy comes out before you receive the bill.
Right, so your bill is going to be that thirty three or thirty four ish dollars a day, and then you pay for that. So there's no overheads except for when centiling goes and does their maths and says, sorry, we let you have too much money.
You owe us money, Yes, exactly. So that was really the only reason I found out that I owe them your money was because the amount came out and it was different than what it normally want. Like, excuse me, but it's quite good in the sense that once you submit your childcare subsidy claim, unless things change for whatever reason, it's just kind of stays there and the childcare deal with that and then they just send you what you owe remaining after the childcare subsidy.
Yeah, okay, So have you found that challenging or a relatively easy process in comparison? Because I feel completely overwhelmed when it comes to childcare. I go, wait, what, like this is a lot of money? Is this good? Is it bad? Like there's so many conflicting opinions. Are you comfy with that? Now that you're in the I guess in the process of it.
Yeah, absolutely. At first, it was a little bit, I guess scary because when we went in and decided on a daycare, they did pre warn us that submitting a childcare subsidy claim can take a really long time. And yeah, if you start daycare before your claim has been accepted, you have to pay the full amounts and then get that money back later.
That's so expensive. That's why I mentioned cash flow because I was like, cash flow is so important. Like, imagine if you had to pay the full amount and then you just got a refund later. I'd be like, that is so unfair.
No, yeah, it works quite well now that we're set up, and I guess in the groove of it. The only time we ever pay more is if he needs to go for a casual day. But again, that's seventy five percent from the childcare subsidy still comes out of casual days as well.
Oh cool, Hey, that's a bit of a money win. Also, random question. One thing I learned recently When I put my non existent baby down for daycare. It was very strange because they're like, you know, is it a boy or a girl? And I'm like, I don't know, just call a baby divine. Yeah. They're like, do you have a name to put down? I was like no, Like, it's not even born yet, what are you talking about.
They said that when we pick days, if you're going to do less than a full time schedule, so less than five days, one of the days has to be a Monday or has to be a Friday. Have you found this to be a thing because I originally was like, great, I'm going to be relaxed on Mondays. I'm going to be relaxed on Fridays, and I will pop my baby into care Tuesday, Wednesday, Thursdays. And when I put those dates down, they were like, oh no, no, no, one
day has to be a Monday or a Friday. And I was like sorry what, Oh no, I never had that. So it's just an elite sport in my suburb, right.
Yes, yes, just in your suburb. Baby. But we have had day care price increases since we've been there. Oh yes, So I find usually as the government says, hey we're going to increase the childcare subsidy payments, the daycare goes, hey we're going to increase our prices, which is totally fair in my opinion, but usually we still end up paying either just a little bit extra or the same as what we were paying before.
Oh my gosh, I feel like I'm going on and on about this childcare conversation, but it is pervy money content. However, the thing that really frustrates me about that, because, as I said, I've been having a lot of conversation online, mainly on Instagram with mums when I post about what childcare questions I have is a lot of the educators that are messaging me go, hey, did you know that every time there is a childcare increase, we don't actually
increase our income. So the educators are still paid honestly like trash, and the childcare centers are just making more profit because they're just passing it along to you. Anyway, that's a conversation for another time.
I was just going to say, as a teacher, I own quite a lot more than what the daycare workers do. But I walk in there to drop myself off and I'm like, oh my gosh, how do you even do this? Like I can't stay longer than five minutes because I'm so overwhelmed by how much work they have to do.
Exactly, and they're not just doing like work. They're not just looking after your baby. They're not babysitters. They're also educating a tiny human who doesn't have a very good attention span. That's exhausting.
Absolutely.
Oh Anyway, I could go on and on, but the overwhelming question I have in my head right now, my friend, I want to know what's your best money habit?
So I have everything in my bank account automated. So as soon as I get paid, my rent comes out, most of my bills come out, and then the day after I'm paid is essentially what I'm left to spend for the fortnight. So that's been working really well for me. It includes my savings and all my bills, so I don't have to worry about you know, am I going to have enough money a week after I'm paid because I get paid and then all my bills are essentially paid as well.
Genius. I love it. That's why I created my money masterclass actually, because I think that absolutely everything should be automated. Like, if you can automate it, it's like set and forget and things are happening in the background, and your money is actually working as hard for you as you do for it. Yes, how did you work out how to create that structure? And is that structure I guess working perfectly for you? Like how have you kind of built it over time?
So a lot of it is advice from listening to the podcast.
Oh thank you, My ego is very happy.
It honestly has really changed my perspective though, because there's so many things that I wasn't aware of, and having even just separate bank accounts for separate goals or separate intents has really helped me as well. It's working relatively well in the sense that the money that I want to not spend is put into an account which is hidden from my online banking, so I cannot touch it.
The only way that I can get that money is if I phone the bank and say, hey, can you transfer this money over into my other account?
Who do you bank with? I need to know because I'm going to get questions. People are going to be like, how do I set that up? What does that actually look like? What bank? Is that not a recommendation?
No, I am with PNN.
Okay, I'm sure other banks can absolutely do that for you. But it's just helpful to know because people will be like, oh my gosh, I want that system. What bank does she bank with? So thank you for sharing.
Well, I just called them one day and said, hey, is there a way of making this so that I can't access the money? And they said, yeah, sure, we'll just block it for you. But I still have the acount detail so I can still manually transfer money into that account. Great. The thing that I guess I'd like to improve is I do have a separate account which I have called other Bills, So that's intended for bills that come out like quarterly or even annually, you know,
at my car registration. And what I try to do is transfer fifty dollars every fortnight into that so that it builds up. The only thing is I have access to that account, right if I'm running low on funds for the Fortnite, I can go, oh, hey, there's money there. And I also did have my emergency fund as an account accessible on my online banking because I figured, if there's an emergency, I need to be able to access it.
But the same thing, I would see that money sitting there and go, oh, just quickly borrow some of that and I'll put it back later. So I actually ended up transferring all of that money into my hidden account.
Knowing that it's just a phone call away.
Yes, so at the moment, my savings an emergency account are actually in one account, but I would like to separate them again.
Yeah great, I love this. I feel like you're across it. I'm gonna cheekily gift you my budget and cash flow systems, so the money master Class actually, because I feel like, if it's not working perfectly for you, I think I can make it work perfectly because I'm like, oh, I totally get that, but the visibility thing can be really hard.
But it sounds like with your other bill's account, just being cheeky, you maybe haven't done a comprehensive enough budget to know exactly how much needs to go into each account, which will then lead to you having to dip in and out of different accounts. Because I'm assuming it's not you going, I'll just borrow that money from here because I really want a new jumper. It's probably you going, Oh, that bill's popped up. I'll just borrow a bit of
money from here to go to here. And we actually want to track absolutely every single dollar that comes in, and my money master Class system does that. It's so comprehensive. I think you'll love it, but i'll give that to you later. We'll sort that out after we're not on the podcast. But for those listening who are going, oh,
I really want to do that as well. VI, I will get just a goat sheet to turn back on the pod discount code for this week, and the pod discount code is pod five zero to give you fifty bucks off. We'll obviously put all the information in the show notes, so don't worry. But that's a little bit of a money win for the community. You're welcome. Money Diarist. Moving on from that, what do you think your worst
money habit is? Is it that dipping in and out of each account or is there another cheeky one to share?
I think it's sometimes I get caught up in impulse spending, usually if it's for my son. So if it's something for me, I'm more than happily put twenty four hours between me and buying it, and usually buy twenty four hours it's completely left my mind, and if it hasn't, then then I'll consider whether or not I can actually buy it, But if it's something for my son, I'll just buy it no matter what it is. It might be shoes, it might be closed, it might be a toy.
I feel like that's going to be me. I need to buy song curving this. When I get some that's helpful, I'll share it, I promise.
Yes, please, you know. I want to give him everything that he wants. And sometimes it's really hard because I think, well, what if it's not there in twenty four hours or especially on Facebook Marketplace. When I see a really good deal.
If it's on Facebook Marketplace, it's probably a money win my friend, Yes.
But it's also probably not something that he needs. But yeah, when it comes to my son, I would buy anything.
Oh my gosh, I feel like that's going to be me. And one of the best things that I've ever done while pregnant is not find out the gender of my baby. So I can't go shopping like I can obviously buy white onesies, but I'm out of buying white onesies, and now it's kind of like, well, I can't get cute girl things or I can't get cute boy things, like we're just going to have to wait. And that's been a really good money when to be honest, we.
Did the exact same thing because we didn't really have like a nursery decor because you know, we didn't know was it going to be a girl. It couldn't be a boy. My husband actually ended up painting some little animal pictures for the nursery as well, where we're like very mixed colors, very gender neutral. So we ended up saving money in some senses as well.
Yeah, great, and find out the gender. It will save you money. Great money tip from Sheese on the money.
And it's such an amazing experience to go through that labor and that birth and then to find out the gender. It's a really overwhelmingly happy.
See that's the magic I'm waiting for.
Yes, it is magic.
Oh my gosh, I love it all Right, money, dirist. Unfortunately, that is almost all we have time for today. Now that we've had a chat. I feel like at the start you were like, look, I think I'm a bee. I was considering a se But I really do think I'm a bee after going through all of my teacher criteria, which is a very teacher thing to do, my friend. But we've just gone through this epic story. Like we've talked about domestic abuse, We've talked about your upbringing, how
that has happened, how that has impacted you. You're the first person in your family to go to university. You're killing it. You have this son, You've got your budget and cash flow system sorted out. You've obviously got your two super accounts for good reason, like you know that you're meant to have a super account with good insurances and one that has good performance. And then you've also started doubling in raise, so you're already investing. And you're
a young mum. You're not even thirty yet. What the heck? So looking at all of this, do you still think that bee is reflective of where you are? And if so, why, If not, what would you change it to?
Yes? I still think a bee it's just above satisfactory. So a BEE is what we consider high but not quite excellent. I would like to consolidate my soupers instead of paying two sets of fees, So I'd like to sit down and go through that. I have a bank account for my son which I transfer money into every fortnight, but I would like to, I guess, set a goal for what amount of money am I hoping for that to turn into when he reaches a certain age, and then have a better idea of how much I could
be putting into that. I would also like to think about what am I going to do when my pay increases as of next year, because there's a seven thousand dollars increase that's coming and I don't want to just have that seven thousand dollars disappear. I really want to think about what am I going to be doing with that? And my husband is also going to be getting a pay increase around the same time as well.
Money weir Yeah.
Thinking about what can we do and is there any goals that we want to work towards.
I love this. I'm actually so glad that during this episode we mentioned sky Wealth, because I'm going to set you up with them and you're going to get you super consolidated and all of that sorted out. And then I already told you I'm gifting you the Money Masterclass, and that goes through goal setting and making sure that you don't fall into the trap of lifestyle creep and
how to allocate when your pay increases. So I feel like I've got this sorted Like you and I are going to have a call in like a couple of months and you're gonna be like, oh, babe, I'm an aa is sweet like, I've got all this stuff sorted, so I will be checking in with you, but unfortunately that is all we have time for today. This has been one of my favorite chats. I feel like money diaries are always my favorite, but you have been an
absolute start. I genuinely feel like we're best friends now, and that's the best outcome you can get from a money diary. Let's be honest, but my friend, it has been an absolute pleasure. So thank you so much for joining us, and thank you for being so open about your story with our community, because I just know they're going to love it, but they're also going to get so much out of it.
Thank you for listening to my story and giving me an opportunity to share it. It means a lot.
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