MONEY DIARIES: A Single Mother Of 3 Moving Into An Abundance Mindset

Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr

Let's get into it.

She's on the Money, She's on the Money.

Hello, and welcome to She's on the Money, the podcast for millennials who want financial freedom. Welcome back to another shot back Money Diary Monday, where we talked to one about beautiful community members to lot about them, their money, their finances, their story and just about everything in between. Victoria Jessica, I've got a good one.

Oh yes, say every week. Oh I suck at these. You know what, we wouldn't have got jobs as what copywriters?

No, that's what we have. Georgia King.

Yeah, yeah, we've got Georgia King we'll keep her on. We love you, Georgia. All right, tell me about this diary.

So this week's direst says I came to Australia at sixteen and became a single parent at nineteen. I continued on my journey as a single mother now by choice, and I have three kids, yes quick, learning to move more from the scarcity mindset to the abundance mindset, from single parenting payments to full time work. I'm balancing my values with my financial goals and starting the investment journey.

Oh hello, welcome to the show money diarist.

Thank you.

Tell me how old are your babies?

I have leven and my little boy is seven months.

Oh my god, how excited. It's like you're a new mom all again.

I know I've had two girls before, so having a boy is a whole new journey, different to everything I thought I knew.

Oh my gosh, how sweet.

I want to ask all these questions, but that wouldn't be appropriate because this is like it's meant to be anonymous, and I want to be like, what's his name? How old? Like that's not appropriate, Victoria, So how about we just get into the structured questions Money diarist, Can we start by asking you to tell us a little bit about your money story.

Yeah, So my money story.

The way it is that I've always just viewed money as just the two and all I needed was to have just enough to cover all of my needs.

And I thought about it and.

Traced it back to one conversation I had with my grandmother. My grandmother raised me because my mom had me when she was a teenager and was sent off to go to school.

What a queen.

Being the curious.

Child that I was, I asked my grandmother point blank, tell me about your money, how much you and what do you do with your money? And she gave me a very simple budget. It gave me a strict figure. It just went I get four hundred, two hundred goes about hours, one hundred goes to paying for furniture and stuff, and a hundred goes to paying for food and all our transport and stuff. And what that did is that just gave me that basic mindset of I just need to have enough to come up with all my needs.

That's all right, we get what we get and we don't get upset, all right.

I love that you can pinpoint that one specific conversation in your childhood and remember that that was like such a pivotal point in your money story and that really shaped your perspective.

Now.

That's so cool that you remember it with such clarity, And I also love that you need the numbers. Still. Yeah, it's like really good with you.

I think about it all the time. I still remember it.

I really I need to go back to her and tell her and ask her if she was really real.

I'm'm pretty sure it wasn't.

Hope she would be blown away that like that one small, offhanded conversation stuck with you for so long.

But isn't that it Like, there's so many times that you have offhanded conversations with people that you wouldn't second guests that actually become pivotal in their yaves and in their conversations and now in their money stories. So I think that's a really good reminder to always just be aware of what you're saying to people and just always be kind because you might just say it offhanded and someone might take it really seriously. Like you did money tyrosts.

I work as a lawyer in the community legal sector and from that I get about eighty eight six hundred. And on the other side, I work as an argent lecture and mentor and I get seventeen hundred a month from that.

Oh my gosh, you're hold on. So you were doing all of this and you have three kids and a seven month old Yeah, why, super woman, and as a single parent by choice, Like this is a lot. You are a hustle or I have so many questions. Jess is going to bite my head off if I don't move on though. So next question, what is your big money goal.

My current big money goal really is just wanting to invest for the kids, buying a couple of shares, but also buying properties that they can use as a resource as they grew up.

Yeah, so cool.

I feel like you have your head screwed on so well. Next question is do you currently have any investments.

Yes, the big one being my super.

Yes. Yes, I started using Rays just recently as well, so that is and been the big things. I think I only have about one hundred and fifty dollars, isn't it.

We all got to start somewhere though.

Yeah.

I've started a self work account for my oldest daughter, so that's sitting at about one thousand.

Oh my gosh.

The plan is to grow it up to two thousand, and then from then on put about five hundred every month or something like that. And then I also have a Bricks account, yeah, for myself, and that's sitting at about fifteen hundred. I only just started doing all of these.

You're doing so well for someone who's just started. That's awesome.

Thank you.

So tell me about your decision making to get those accounts, like how did you pick Rays and how did you pick Bricks? Like where did these come from?

I was researching about different ways to invest. I think it was about two years ago, and that's when I came across bricks, and I find it really interesting, the whole investment structure and how it works. I spent a couple of months just thinking about it, researching, and then when I started it, it was just to try and

Yeah, very cool.

The self worth one again, same thing, just researching different waste invest and I wanted a platform that doesn't require a lot of effort from myself. I don't know anything about shares or what happens. I don't want to be a trader.

I just want it somewhere where I can just buy the shares and.

Someone will sort it out. And that was recommended to me by a friend of mine who's an accountant. She just wanted to recommend herself with. And I started using Raise after I listened to the podcast.

Oh, very seems to be on Raise.

We've never even worked with Raise. It just seems to be an underlying product that a lot of people in our community use.

So therefore we talk about a lot.

I love the idea that so many people are just sharing this and that's where you probably got that information. Like knowledge sharing is so powerful, it.

Is, it is.

And for me, it was an easy switch for me because before I was using the ing roundups and it was rounding them up into savings account. So all I did is just turn that often is thead round it up to the rais account, So I haven't even noticed that.

Oh cool, So you were already using something that was rounding up, so you kind of already had the practice of how it feels, and now it's being invested instead of saved.

Epic. Yeah, all right.

Next question is money diarist. Do you have any debts? If so, what are they.

Yeah, I've got a mortgage. I've got a house some time last year.

So you just became a new mum and you bought a house within the same twelve month period.

I did, what a queen.

It's actually moved when I was like liven months pregnant.

Oh my, oh my goodness.

That's crazy.

And on top of that, I have mountain of hexteat it's even crazy to think about. And I probably would say the car because that's on anvated lease and as since found out that that's kind of technically alone.

Yep, tell me about your hex stet.

I know you're a lawyer, so it's probably quite high in comparison to a lot of other people's. But how do you feel about your hex stet?

Try not to forget it. It's currently sitting at ninety five thousand.

Oh my, well, it's just not one hundred thousand. I mean small steps in the right direction, and of all loans to have, that's a pretty good one, especially because it means that you can work as a lawyer, right, true.

True, I try to think of it like that. I'll look at it and I'm all upset. I was nine five.

I don't try to say I'll pay it off and then I'm like, oh, well, it does allow me to be able to do what I do.

Money well spent.

It's true, It's true. And Jess, you and I were talking about this the other day because our community gets a little bit confused about hextet and what it means for your property purchasing. Ernie, but you are living proof right now that you can buy a house and also have a very large hex step. Did that ever get in your way when buying a property?

It didn't.

I actually asked my broker about it because I was really worried about that as well, but she said that it was all good. And I remember during the lone application there wasn't any issue about the fact that I had that that much debt.

Winner Winner, all right. Next question is do you use shop back by a chance?

I do?

Now?

Oh you now?

Why now I'm missed hearing about shopback from the podcast.

Oh you're welcome, You're welcome.

That's so Jessica Richie special.

That's how I get all of the baby stuff.

That is really same because baby stuff is so expensive.

I use it for those regular expenses nappers from the baby stuff all our day is just click and collect.

That's really smart. That's such a good point actually, because we all wait, we all buy groceries right every week, so why not forgot that I collect there? Yeah, you can just go in. It also probably would save you a lot of time, because going through the supermarket with three little ones intel is probably a bit of an ordeal.

Right, yeah, yeah, I don't think I hardly ever go to the shelves with the kids.

It'll be it's a nightmare.

It's all right now.

But I hadn't even thought about that. Using click and collect makes so much sense because then you're saving obviously getting to use shop back and not having to pay for delivery. Yeah, so smart, double money when I love it all right, next question money dirist is what is your best money habit?

So my best money habit this is a funny one. When I came to Australia.

My mom taught me about used to love talking to me about I need to change my mindset about using money to you know, find joy in life, because I already had this mindset set that I just used my money for the things that I need. I found a way to find something to fund my luxuries and what I've been doing since back then, since I was like eighteen and in UNI using mysty shopping.

There's a way to fund all of my legsuries.

That's clever. So your luxuries is like a whole separate thing.

Yeah, so my lexury funds is like a whole separate thing. And it's started off at UNI with just small stuff like takeaway stuff, restaurants, clubbing and all of that.

And then as I.

Got more experience in doing mystory shopping, it was I was actually able to you know, move on to working with more high end stuff like hotels, flights.

Oh my god.

That, Oh my god.

What Yeah?

And I also used to do focused groups, so whenever I needed a couple of hundred bucks, it's just two or three focused groups.

Three hundred dollars, got what you need.

That's brilliant. I love that. I love that you've kind of allocated a whole separate stream of income to luxuries, kind of like, oh, if you want something fun, you're gonna have to find a way to earn the money for it.

Also, this is so niche, but I have looked up mystery shopping before when doing some research on side hustle episodes, and I've never actually found how you could like mystery shop flights or accommodation, Like, you must have worked your way up to that very well.

You actually do have to, because I remember when I first that and I was like, oh, I want to do the flights and then stuff.

Now I just discovered you have to work your way up. You get to get into the position where they know you and they trust you. And it's usually those smaller mystery shop companies that do you know, fast food outlets. They will then recommend you to the people who handle the more high end stuff.

Brilliant, all right.

The flip side of that, my friend, is what is your worst money habit?

I don't know if you're going to have any?

Oh I do?

Oh you do.

I'm an emotional spender, and I also have no limit when it comes to spending on other people that I love. I would just instantly spend two hundred dollars on my kids or my.

Sisters without even thinking twice. I need to get a hold of myself.

There, you do not.

You just need to make sure it's in line with your budget and that what we are doing is you know, allocated for And if you know that about yourself, I think that that's not a bad thing at all. Next question, my friend, is also the last question of this segment. What grade would you give your money habits? If we forced you to give yourself a grade?

I think I'd give myself an A.

I think i'd give you an A too. I'd say an A plus, like you're doing all of the right things right, But why would you pick an A?

I wouldn't say an A plus because I think I need to be a little bit more.

I don't know, well, focused for disciplined.

I could probably do more with my money than what I'm doing. I think that's what I think then in terms of my spending budget, well that I've got all that covered, but I just feel like I could do more with my money.

It sounds like you're stepping in the right direction. I'm thinking about your future and your kid's future with investing and all those sorts of things, which I can't wait to ask you more about right after we come back from this break. Alrighty, we're back money diarists, and I want to start off by asking you about something you said just before we went to that break, which was that you're an emotional spender, which I think a lot

Yeah? I think my emotional spending is usually just in the idea of wanting to treat myself to a little something, and I try to.

Manage how much money.

I have access to for starters, the way of set up my bank accounts is that I don't really have access to a lot of money and I've never had credit cards or basically having access to money that it's not mine.

And is that because you are impulsive with your money?

Yeah, just to avoid any of those issues, I just don't allow myself access to money that I don't have. Or if I'm saving for a girl, I wouldn't allow myself access to that so that I don't dip into it.

Yeah, that's so smart. That's really clever knowing I guess what your bad habits are and then making choices like that to avoid putting yourself in a position where you're spending money that you don't have. Is, I think, really really clever money Diarist, you spoke about your mum having you as a teenager and being brought up by your grandmother. Can you tell us a little bit more about that journey, Like, obviously that's a significant ask on any grandparent, but it's

Yeah, it was a huge thing, and it was actually her idea. I think back in my home country, what would have I usually have ben would be if my once mom gets pregnant and has met that's it. That's the end of it. She has to stay home and be a mom and figure out life from day. But what I found out is that my grandmother was very admant that she's not going to do that to her. So as soon as I was birthed and nursed enough, she sent her off to school. And she felt really

Oh that's so sweet. I love that your grandma's a boss, like stick it to the system and yeah, like being like, no, I wanted to have an education, screw the traditional gender roles. I'm all about that. Personally.

Tell me about your mom. What did she She went to school and then did she go on to work? Like where is she now?

What's she up to?

Yeah, she went to school, she studied in university and then she came to Australia to study as a physiotherapist. It was when she finished university and she started working. That's when my grandmother was like, okay, I've done my job.

You're working that take your child back, take your child back.

I have done my services here, that's freely.

Yeah.

It was very funny they did it. But she's still here in Australias.

She lives here amazing. And you said that you were a single parent at nineteen, did your mom or your grandma then kind of pitching to help you because you then obviously would have gone off to university as well.

Oh no, it was the complete opposite.

When I became fragrant, but I was like, okay, well, guess what, we're in a new country, with better help and resources. You're going to make sure that they I think she did have a bit of guilt about not raising me as a child, so she just always encouraged me to you can go.

And do what you need to do. You can study it.

I'm happy to babysit, but you're going to be a part of this child's life every single day.

Yeah, And that's just what I had to happen in a she was born.

I was there every day and she pushed me figure out what it is that you want to do.

Go to university.

I changed courses like three times, but eventually found what I wanted.

To do a lot of people do.

Yeah.

Yeah, she's supportive, but she also really encourages me, and it's really important for her that I'm just there for the kids all the time.

And these days.

She's just the school holiday grandma every school holiday.

Neighborhood too. Follow that.

That's awesome when you say you changed courses three times. So did you go to university straight out of high school at eighteen nineteen when you had your child or was it a little bit later once you've kind of found that balance of being a full time mom.

Both.

I started my course before I got pregnant, and I had tried to do a communication cause because I loved event management, but I found the court really boring.

So I left get out of that.

And that's when I got pregnant.

Yeah, and while I was pregnant, I tried to do a finance cause and that didn't work out because I didn't enjoy much. Then I tried to do an economics cause because if I loved economics in high school, and I think it was just probably the combination of being pregnant and also it being a refresh of what I did in high school, I didn't find that enjoyable at all.

I actually ended up.

Starting my legal courses in my law degree when she was about six months.

Wow, that is a no small undertaking. Like, to be perfectly frank, I couldn't study law right now with no kids, and you know, let alone with a six month old baby. In terms as well.

I know, I actually have another question for you. In your monetary submission, you said you were a single mum by choice. What does that mean and how does that work day to day when you're clearly such an accomplished professional woman as well.

Yeah, So, like I said, I started my law degree when my oldest daughter was six months, and she was my law degree child. Towards the end of the degree, I just remember thinking and when I finish this degree and get into the workforce and actually give it my all. But I also didn't want her to be a longer child, and I didn't want her to have such a big age gap with her sibly, because I have a really huge age gap.

My brother who follows me was like sixteen years younger than me.

Wow.

So I've just made the decision, and that in between me finishing union, because when you're a lawyer, you have to do your degree and then you do this six months graduate diploma in order.

For you to be practicing.

So in between me finishing my degree and me being able to actually start working, I decided to have my second child around then, So I started then working full time when she was about six seven months, and then when I decided I wanted to have a third child, I decided to do the same age gap that they have, so they.

Have a five and a half six year age gap.

So we didn't until she was five and a half and six to have my sign and that's gonna be my Oh.

No, baby, Oh my gosh, that is so exciting. So you're a single mum by choice. Does that mean you had to go through like an expensive IVF process or what did that look like for you?

I was lucky that I didn't have to do IVF, but I did have to do aud I.

Yep, is it au d or au? I? Are you right?

So just finding a sperm donor sperms and then just do artificial insemination.

Yeah, and it went all smooth sailing, and now you have a very beautiful seven month old baby boy.

Yeah.

Even with my daughter was the same, all easy, first try, got pregnant. I'm a very fertile person apparently.

Do you know what?

That's really nice because that process can be pretty grueling to only have to go through at once and when bam, thank you ma'am, I am pregnant. I think that's what a lot of people wish had happened.

Yeah.

I was concerned that I might have to try a few times and it'll end up costing a lot of money, but both of them just one try.

If you don't mind me asking how much does it cost to do something like that. I've never really looked into what do you actually look but in my mind I just always assume it's really expensive. Yeah.

Yeah, so with the artificial insamination process, it's actually not as expensive as the IVF. With my first I think.

I spent about two five hundred and that was just to do the basic test that they do to check your eggs and your tubes, make sure that everything is not blogged, everything's going well, and then to purchase the sperms and then to pay the doctors to do theirination.

And then when I.

Did it the second time, it was just a little bit more expensive, not too much. I did choose to skip the test that they did at the beginning because.

I knew the answer. That's already bicycles.

And everything, so forget our could pinpoint when would be the right time to do it.

And that costs around three close to three grand.

Hey, that's not nearly as bad as what I mean, it's still a very significant outlay. But here I am thinking it would be very similar to an IVF process, which in Australia is around ten thousand dollars around, So that's I mean, arguably a much lower entry point, but still a pretty significant investment.

Yeah, definitely. It just helps when you do it one try. It's just sometimes it gets really expensive because people have to go back a cup and every time you go back that's another three grand on top.

Oh my gosh. So special for your kids as well, that they get to grow up knowing that you made that choice, like you really really wanted them, and you made the choice that was right for you, and you're an independent, single woman doing it for herself. You love to see it. I absolutely I'm obsessed with you. I love this. I love that you're just like no, like.

My grandma raised me, Like, there's so many things about your money story that you could have just I guess settled on it the way you could be like, well, that's just the way it is, Like I don't need to go to university or don't need to do this. But everybody that around you just like lifted you up

If there're anything like.

You are, are they It's scary because because they're a little bit like mini versions of myself.

So that scares me.

Yeah, that's that's the thing that really scares me about potentially having kids. One day. I'm like, oh, do you know what, I would love small versions.

Of my partner, but small versions of me.

No, thank you, Like I can't think of anything worse. It's probably a good place to leave it before Steve gets involved in this money diaries. But thank you so much for spending so much time with us. Oh my gosh, this money diary has been an absolute eye opener. Jess, do you want to wrap the boring but important stuff?

Absolutely so, don't forget guys. The advice shed on Cheese on the money is generally 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

See you on Wednesday, guys.

Bye,