MONEY DIARIES: Is It a Choice Between Religion & Your Financial Future?

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 one of our money diaries where I get the absolute privilege of talking to one of our incredible She's on the Money community members all about their journey.

My attitude towards money is very peculiar in a sense that it stems from religious beliefs. But at the same time, I'm trying to adapt in the current society where it's at the peak of its contramerism and capitalism. So like, growing up, my parents never discussed money, so they've basically taken on the full responsibility of meeting the needs for the family. However, in the same vein because they never discussed money with us, we also never saw them struggle for money.

Yeah, okay, so.

We always go back to our religious beliefs. Basically everything will be provided for. We don't have to worry anything because that's already been answered for, Like it's already there, but we just don't see it. We just have to wait for it. So it's a peculiar situation for someone like me as a millennial, where everyone sort of knows where they stand with money, Like it's either they struggle

Yeah, I would like to know more about this religious side of things. But I've met a lot of people when I was working as a financial advisor who were tackling I guess wealth creation for the first time because historically, like their parents didn't really talk about that or do any of that, kind of like they weren't investing because if they were, you know, had a roof over their head and food on the table and were grateful for what they had, like that was exactly what you lived

Yeah, my family was, or actually still is Christian, So they're more of like Baptists in a sense, like Southern American type of Baptists were very traditional in our way of beliefs. So I grew up. I went to primary school, and we can't wear nail polishes because apparently that makes you like a prostitute or something.

Oh, very dramatic, but yes, I get it.

Yes, So and then we were taught like we can't go to the cinemas because bad people go to the cinemas or things like that. Like there's a bit of a confusion or like radicalism in some of the teachings but eventually we were able to sort of reconcile and decide for ourselves what we think is acceptable in terms of our religion and basically just sort of separated from that type of thinking in terms of the financial side.

Which is very toxic in that culture.

Right.

Yeah, it's not seen as being a good thing. It's seen as being very negative.

Yeah. So that is why I never saw my parents struggle. They're always like, we can do that, we'll just have to wait. Look, my parents were not like just waiting for dollouts or something. My parents had good jobs.

Yeah, it's just the thought pattern behind it.

And then we also had to I don't know if you've heard of this, but some of us give ten percent of our gross yeah, the tithe, Yeah, the tithe. So I practiced that even when I was just receiving school allowance. Wow, which didn't really amount to anything, but it was the practice. Yeah. I wasn't pressured into it,

Yeah, is this something that now you're obviously an adult you live in Australia, do you still see it that way?

Like?

Are you still paying a tithe that you like? Looking your parents going Wow, it looks like we didn't have to worry about money growing up, and now in hindsight, maybe we did. Like I guess, have you had your blinkers taken off now that you're an adult?

I would say so, It's just that my parents were really really good at hiding it.

Yeah.

I remember there was a time that I had to pay for something at school and my dad basically had to He is a lawyer, so what he did was he actually had to produce a physical output so he can build a client, and that earning is allocated for that school need or school activity. So now that I'm basically an adult, I think I hope you are. Now I sort of know in a different sense, like pay

You didn't understand that that meant money, right.

Yeah, we had to pay electricity, But I didn't know the implications of turning on the air conditioner for like six hours straight.

Yeah, which now as an adult, I'm away is like, is the air cone on. It's fine in here, let's turn it off.

Now it's just like, okay, maybe I can turn it on for like thirty minutes just to get rid of the heat inside this apartment and that's it. And now as an adult, I still do tithes, but that tithes goes into a savings account.

It's for you, and it earns.

So I don't know how to feel about that, Like, do I also like when the time comes that I actually need to give the money to the trish, Do I also include the interest accrued on that saving.

No, I feel like that's your money working for you.

So now I'm like, there's nothing in the Bible talking about interest, you know, like do I also have to pay interest?

It's an interesting because I think that up until you know, not now, but up until more recently, I eat the last couple of hundred of years, we are now talking about investing and putting ourselves forward, and a lot of those things they really conflict with the teachings that are in the Bible. And are you know what hold down a lot of religious beliefs right, Like it's always about

So I'm a case manager for a non for profit organization and I earn around eighty six thousand before deductions?

Is that before or after super?

Before? Super?

Very nice? Tell me more about I guess your big money goals and also how do you feel about big money goals?

I think big money goals are good because it sort of like puts you into perspective, like what do you want to see in terms of financial standing or in terms of financial freedom? So I think one of my big money goals for this year is to do the ten thousand savings money hack.

Oh yeah, you can download those free on our website.

That's one, and then the second one is paying off my car also this year. M So I have a little under ten thousand dollars left on that. So that's sort of like now twenty thousand in terms of big money goals. But for the long term, my big money goal is help out my husband to pay off the mortgage and you know, see if we can sell it in the future and by a house. So that's something that I wanted to do, but we have to discuss the nitty gritty details before we get started on that.

Did you move over from the Philippines with your husband four years ago or did you meet him here? Tell me about that. We love a little love story.

So no, I didn't meet him back home. I met him here in Sydney and we met online.

Oh cute.

We didn't have a meet cute, but we did have like a nice start to our conversation and relationship. I suppose I moved in like with him two years ago. Yeah, and then we got married last year.

Congrat so exciting.

Thank you. Yeah it is, but there's not really much difference to than when we were just dating because I was still living with him already.

Oh that's a little bit spicy. Actually, if your family are super religious, how did they feel about you moving in with your partner before you were married?

They didn't know.

I knew that was coming. I was like, did you tell them?

You didn't?

Did you?

But I feel like my parents had an idea.

We don't have to tell them your housemates, like there's two bedrooms.

We actually concocted a story like I am hissed renter and he's just like a random landlord.

Oh nice.

Yeah. If ever my parents did us, where are you living now? And I'm like, oh, here in this little suburb. Oh so where did you rent? I'm just like, oh, I rented from this gay man.

Oh you told them he was gay.

We were planning to give a similar story like that, just so that I'll have an excuse why I'm no longer living with my sister because I used to live with my sister.

Did your sister know?

No? She did.

Oh you're so shaky. How did that work?

Because I used to live like it's a live in nanny, so I sort of like extended the period that I was living with the family, but at that time I was already living with him.

I love this.

So they're just like thinking, how's the kid that you're looking after, and I'm like, yeah, she's fine.

He's a lot older than you think he is.

So yeah, they didn't have an idea, but I think they have a bit of a hint.

We don't need to talk about it with them though they will never know. I like it. Let's leave it that way. And then you guys decided to get married. That's very exciting. Was that something that you guys had to save up for for ages or you did something small or what did that look like.

We didn't spend a lot of money on the wedding because I just couldn't bear the idea of spending like tens of thousands of dollars on a single day.

That's so fair.

Luckily, my parents and paid for my wedding tress and the only item I had to fork out on was my shoes. Yeah, and for him his suit and his shoes and the dinner after and we got married at the Civil Registry.

And like, oh cute, I love that.

That was very easy to accomplish.

Yeah, I love that so much. All Right, let's go to a really quick break because I have a lot of questions. I want to know about investments and debts and your best and worst money habits. So don't go anywhere. All right, money Diarist, We are back, and I am loving this chat. I feel like it's really pervy. Also, you are a lot cheekier than I thought you might be going into this because I was like, oh, yeah, you grew up in a religious family, and then you're like,

We're definitely different in terms of religion. He's now sort of like backing away from the whole religion thing because he used to be part of a cult.

A cult. This is not what I expected bombshell after bombshell with you.

So it's not really a cult where you know, they burn people alive or whatever, but it's just very dodgy where you can't join unless you are personally invited and vetted by someone who's already a member.

Oh my gosh, a proper cult.

In Australia, yes, such to say it's in Melbourne, so no, yeah, he used to be living in Melbourne. Yeah, and that's where it started.

I'm going to ask you what it is offline so I can do some research, but we don't need to put that on the podcast. We don't need a cult coming for us. How interesting, And so he's completely backing away from that. And obviously you've grown up with really religious family members and I'm assuming that because you lived with your sister and like you were being a bit cheeky with your parents. You're probably still close with them, right, so like, yeah, how's this working out for you?

So now a days, my parents are just very blass now in terms of religion.

Really.

Yeah. So back then I could and get out of going into church every Sunday. Yeah, It's like they don't care if you're tired or if you want to go hang out with your friends. You're coming to church with us and you can see your friends after.

Yeah.

But nowadays they're just like, oh, okay.

They don't mind so much. They're not as strict anymore.

They don't mind so much anymore because it's probably sunking to them that we're all adults now and we have our own choices to make.

Yeah, of course.

But back then I never missed the church unless I was really sick. Yeah. Wow, And that was until I was maybe twenty years old.

Oh my gosh. And then what made you go, all right, I want to move to Australia Because that's a big change. And I mean you've mentioned before that like the thing you're struggling with is capitalism and consumerism, Like what made you want to move to Australia?

So I lived in a very small town back home, and I felt like the life there is just so slow that I feel like I'm rotting away. And I thought, oh, might as well go to Australia and you know, lives with my sister because she's already here. Yeah. I never really internalized, yeah, that the lifestyle and how people here sort of tackle money is very different than how it is back home.

I love that. So now I guess when you mentioned, you know, it's much harder because it's obviously a more capitalist and consumerist society, right, Like it's everywhere. It's social media, it's the billboards that you see on the train on the way to work. It's in your face here, and it's obviously very different in the Philippines. Is that something that you know you're finding you're spending a lot more or being you know, sucked into consumerism or like what does that actually mean for you?

I try so hard not to get hung up on the things that are being presented in front of me, especially like I'm a big sucker for like facials and you know, things to make me feel better like massage and many petties. But I really really try so hard to say, Nope, you don't need to spend two hundred and fifty dollars on a facial.

It's a lot of money, hey.

It is. And that really shocked me to my core, like my whole being could not comprehend how something that I used to take for granted, that I used to be able to get back home for like maybe so and so amount of dollars equivalent in Australia costs this much in reality here in this society, in this type of economy. So that was very hard for me to not comprehend but sort of wrap my head around.

Yeah.

And now I've gone on for maybe like four years without a proper facial from an esthetition, because I just do it myself.

Yeah, it's a lot of money. I can't comprehend it. Don't worry, I totally get it. Facial as an investment, So tell me a bit more. Do you have any investments? If so, what are they?

So I did go on to share these last December.

Oh check you out. What a good choice.

Yeah, So I did only make a small investment because I'm still trying to suss out what I would like to invest on. I have my super. Yeah, so I also changed my super into a high growth option. I think. I listened to one of the podcasts and I was like, hang on, I didn't know about that.

You hadn't checked it.

Yeah, fair enough, I could change it, and then I think it's looking better, especially the last month that I've changed it since then.

Very good. And in addition to investments, do you have any debts? If so, what are they?

I still have nine seven hundred dollars owing on my car because I had to purchase a car last year for work, and I'm sololy paying that off. So I'm on track to pay that off by end of this year. Very good, which is a year earlier that the long term.

That's very good.

Yeah, I think so too, any other debts.

When you get out of debt the second you paid off it is the most exciting thing ever to just feel that weight off your shoulders. And no, you don't owe anybody anything.

I feel like I'd be really really happy once I see that money go down to zero.

You'll have to message me when it happens, because I'll

I think my best money habit because of the whole typing thing, I am able to like segregate my money into small baskets. M okay, So I'm going to pay a type first, and then I'll separate the money for my car repayment, and then some money into a savings account for a holiday next year, things like that, and then the rest is my disposable income. Sometimes it doesn't even get disposed, so sometimes I add more to my

What is it?

So I can pretty much convince myself that I don't have money for things, Like I can go on to the Iconic and put things in the cord and then just say you don't have money for that, and then just remove everything from the cord and close the app and forget about it.

That's a good money habit, not a bad money habit. I wish that every time I logged into the Iconic, I could fill up my card and then get rid of it instead of pressing checkout, because all I do is press check app.

Yeah, but that money habit, I think puts me in a psycho a of the privation and binging.

Yeah that's fair.

For years I was broke in Australia and I'm always like, no, you don't have money to buy clothes. But also at the same time, I think it allows me to live within my means, like way better than I would expect. So it really allows me to put things into perspective and really figure out which things are the ones that I really need and the ones that will give me more value for money.

Yeah that's fair.

So sometimes I don't really purchase things like just because they're cheap or oh I like it and it's only like fifty bucks, But then how long is that going to last? You? You know, it could be a pair of shoes and then get broken by the time I wear it the fifth time.

Yeah, So it's all about like thinking about where you're at now, not what you were, Like, do you think with your tie thing? Obviously I know you're still putting that aside, but do you think that you will continue to type or do you think that the times are changing and you're like, actually, this could be a little bit more powerful over here.

Like I said before, I put it in a savings account, but I don't give it to the Sydney church. I don't plan on giving it to an Australian church because I.

Feel right they have enough.

Yeah, so I feel like I would be better off if I send it back home, and it would really really help the community's back home where they can spend the money into possibly building a church and you know, helping the people in need, rather than here where it's people who earn hundreds of thousands of dollars in a year.

And it just doesn't make sense, doesn't Yeah, it doesn't.

Like that's why the types are sitting in a savings account.

But I agree with that fully and I feel like in economy's life the Philippines, when it comes to tything and giving to a church, it does get used more often on the local community, whereas I don't see the same thing happening in Australia. And I mean a lot of people will probably argue with me, I'm honestly not interested in the conversation with being brutal, but like they'll say no, no, no, it goes back into the community, and I'll be like, yes, but not in the same way.

I feel like I really need to up my investment game, like really teach myself how to be patient in terms of seeing that growth, make sure that I don't touch that money for the years to come, and really make smart decisions on what types of investments, the ones that will give me, so to speak, more bang for my buck.

Yeah.

So I think that's what would really get me to A because I feel like that's the only thing missing in this whole puzzle piece.

Yeah, I feel like that's a pretty achievable thing to do though. Yeah, it's not like, oh, I'm a CS and I'm gonna have to look on my budget and cash flow. I need to earn more, I need to get out heaps of consumer debt. Like that's a very easy change with education. So that makes me really excited that you're able to achieve that pretty quickly.

I think, yeah, I hope so too, because you know, it's good to have the things that you're one achieve.

I agree so much. I wish we had more time to talk and more time to go through this. I have many a question about cults and religious upbringings. I feel like that topic is always really spicy, but money direct it has been a pleasure getting to know you. Thank you for being so open and honest. I feel like lots of people are gonna listen to this and be like, wow, that's so interesting. That's so different to

Thank you.

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