Hello, my name's Santasha Nabananga Bamblet. I'm a proud Order Order Kerni 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.
Hello, and welcome to She's on the Money. The podcast were millennials who want financial freedom. Welcome back to another one of our money daries where I get the absolute pleasure of sitting down with one of our She's on the Money community members and talking to them all about their money story. Let's jump straight into it, because this week I got a message and it sounded exactly like this, Dear She's on the Money. I've always had a strong work ethic, but my poor spending habits keep me living
paycheck to paycheck. Things worsened when I got an interest free finance card for some furniture while I was seeing someone with a secret gambling habit. The debt piled up until I met my now partner, who helped me develop a plan to get back on track. Despite being told we couldn't get a mortgage, we persisted and built our first house on a tight budget. We then went on to make three hundred thousand dollars profit on its sale,
significantly improving our financial situation. Today, we own a beautiful property on two point seven acres and a planning our wedding. We can now put an additional two thousand dollars a fortnight towards our mortgage, and my goal is to be debt free by the time I turn thirty three, Money Diarist, Are you for real?
I'm very how exciting.
That's beyond exciting, going from being like, oh, I've got really pausmanning habits. My douchebag of a partner has a secret gambling habit to being like, oh, by the way, I live on acreage like me for real? That is so cool. Are you proud of yourself?
I'm so proud of myself.
I think that is the coolest can we dive in? Because I've got so many questions before we dive into the juicy be its. I want to know if I asked you to give your money habits a grade from A through to F, what would you grade them?
I think I'd give myself a B plus. I definitely have come a long way, but I also still have a very long way to go.
Okay, all right, I don't know what a very long way looks like to you. Given your plan is to be debt free by by thirty three, I'm thirty three and mortgaged to my eyeballs. I could be for real. That is a pipe dream. So let's dive further in money does Can you tell me a little bit more about your money story?
Yeah, so, my family have always had money, but it's definitely not been something that we talk about. So growing up, when I got my first job, I sort of didn't have any guidance. They always told me to save money, but I didn't have any guidance in unsaving. So once I could work, I think I got three jobs by the end of that year. When I turned fifteen.
Oh my gosh, I had three jobs at fifteen.
Yeah, so I've basically always had three jobs and like I've always had a really good income, but I've just never I just don't know where my money goes. I didn't know where my money went. And then I moved overseas for a little bit. When I had to come home because I had no money and I didn't want to ask my parents.
For money, it ran out of cash. Annoying. You're like living your best life and then you're like, oh, but also that's kind of a big decision if you were in the situation where maybe you could have asked your
parents for cash and then didn't. Like why if you were in that situation, did you go No, I don't want to do that, because like I'm not saying that you should, but I think a lot of people, if they were already overseas, they would have been like, oh, I'm just going to call up the bank of Mum and dad.
Yeah. So I think my problem is is like my family have money, but like I just feel a bit guilty asking them. And I also don't like owing people.
I get that I hate owing people money and they.
Would be fine and they would have wanted me, like if I had a asked for it, they would have given it to me, but I think as well, I was just a bit overwhelmed with how I was spending the money, and then I just thought it was also time to come home because I had started studying nursing, and then I took a gap year and came back to finish it as well.
Oh okay, so it's like, not the worst thing that you moved home, but a bit disheartening if you're over there link Oh I hate this. But also I get to go home and I get to study, and I've got a whole heap waiting for me. So you studied and then what next?
Yeah. So while I was studying, so one of the things that set me back a bit was I had a friend and she actually asked me to go garanteur for her, and at the time, I didn't know what garanteur really meant. She made it sound like it was going to be fine. She took her ten thousand dollars alone at forty something percent interest and what just to get out of debt, and she was really stressed and everything.
So I went guaranteur for her, which was fine for a few months, and then things went a bit bad for her and I ended up paying it, which was really true. Yeah, she blocked me off everything so I couldn't contact her, which was really awful.
No, absolutely not, but I didn't tell anyone about it because I was really embarrassed. I felt like, oh money, dirist, No, if I knew you, then I'd be like all right, sit down.
Yeah. And then yeah, So with the I got a furniture alone. It wasn't much. It was only about seven hundred dollars, but I think I was able to spend fifteen hundred. And then I was seeing a guy at the time and he just used to make me feel not make me feel guilty. He made me feel sad for him because he always said he didn't have any money. And then I started offering him money, and then I think he really used that.
Oh yeah he did. He absolutely did, just like your friend abused that. Oh my gosh, you have been through The money was.
Yeah, so he got about two thousand and five hundred and their friend got about three thousand. So yeah, it was just really hard. And then I started using it was sort of like a credit card, I guess, but not really well, I don't know. And I started using that to get.
By absolutely not like not from you. I just I cannot believe that other people put you in this financial position. It wasn't I mean when you wrote it in, You're like, I've got a strong work ethic, but my poor spending habits kept me living paycheck to paycheck. No, no, no, your poor friends. Yeah, your friends who abused this situation kept you living paycheck to paycheck. Oh my god, I'm so sorry.
It's fine. I was so embarrassed to talk about it to people as well, so like it was sort of my burden. And then I met my partner now and yeah, when we were talking about buying a house, I sort of opened up about like the debt that I had with the guaranteur, the guy that's just a loss for me.
Yeah, unfortunately the.
Guaranteur thing was just like that was still there, and then the card as well. So he helped me come up with a plan to pay off the card, and then we tried the hardest to get in contact with the girl. A few years later, so it was three thousand and she did contact me. She had a partner and he helped her pay off that and then they eventually did pay me back.
Then, why did she ultimately block you and ghost you instead of communicating, like what was going on there?
I think she was just going through a really bad time, like she was going out and I could see she was going out.
That's so annoying.
Yeah, I think it embarrassed her that she should have been paying her word that I was paying that.
So that is insane to me that somebody would abuse your trust like that. Obviously you were trying to do the right thing, and yeah, you probably didn't know what guaranteuring alone meant. And I feel like that's something that we can all learn from because that is something that you know, what we call shark loans do They make friends garan tor for them so that they've got somebody else to chase up when your friend, who arguably has really bad credit, is not able to pay their loan.
But you wouldn't have known that at that point in time. You thought, oh, oh, of course i'll sign for you, like I'll make sure that you're okay, Like yeah, ah, for someone to take advantage of you like that, it makes me so angry.
Yeah, And in hindsight, like I am really lucky in that it wasn't a significant amount. It could have been a lot worse, but it just it does stuff that people take advantage of her.
Oh one, did you ever think of getting police involved or was that not an option? Like what ultimately made her get back in contact with you, My.
Partner contacted her because she had blocked me on everything. She was angry at me that he had contacted her.
Sorry, sorry, I'm blocked, so I'm not able to contact you. That it's actually on you, babe.
But then she obviously unblocked me to contact me to tell me that he contacted her. And then she explained that like she just had a baby as well, so yeah, oh my gosh, like her lifestyle decisions and everything was baffling to me because I was like, oh my god, it wasn't a significant pain each month, but like it added up to me. But it's something that she could have paid, she just chose not to.
Oh and then your boyfriend calls and she's like, that's so unfair. I can't believe it. And you're like, well, well, well if it isn't the consequences of your own actions.
Yeah, And I think sometimes people get really defensive because they know that they're wrong.
Oh, one hundred percent. I say this all the time in my personal life. I'm like, if you have blocked me, that's a reflection of you knowing that you've done the wrong thing. Like, I'm an adult, I don't need to block anybody. I do block people, I don't know if they're abusing me on the internet, I think that's a different story. But if I know you and you've chosen to block me, that's because you know that you're doing the wrong thing and you don't want me to see. Yeah,
it's so salty. I'm so sorry you went through that.
I completely forgot about that, and it wasn't until my fiance was telling me when I said I was going to do this into and I was like, oh yeah, I completely forgot it.
And he's like, victorious love this money dist you better remind her. Oh my gosh. All right, well let's talk about more exciting things. Your partner that you are with right now sounds like a legend. I love this. He's helped you get out of debt and then he's also developed a plan for you to get back on track. So did that look like budgeting and cash flow or
like what was that? Was that him, you know, showing you through your bank accounts or like doing a spreadsheet or were you doing, you know, some stuff on the back of an envelope? Like where did it start? How did it work?
Yeah, so we looked at what I was spending, and then obviously as well, because we now had like a duel income, he helped me a lot too, like shared my expenses and helped pay off the rest of the card loan, which was I think it was about five hundred dollars. So we just paid that off and didn't have to worry about it. And then I think a lot of it I was just online shopping. So now I'm I do not online shop a lot, even though my algorithm terms me so much, which I'm quite smart with.
That girl, I'm a victim of the algorithm consistently. I don't know how I have the level of self control that I do have, which is dismal at this point, like I'm still impressed that I'm not buying more.
Yeah, I know, it's so funny, Like how did you know that I wanted that?
Oh, it's creepy. But at the same time, I'm like, you got me, you got me.
Yeah. At that time as well, was when so it was the start of COVID when they were offering the grants for building a home. So we just went straight to a broker and they did everything, so we sort of knew where the money was going. I hadn't after pay and a zip pay account, which I had to pay.
You doubled down, you did both. I love that, Yeah.
Pay and close them. They said, even if it's open, it looks.
Like you still have yeah, which is wild, not actually wild, it makes a lot of sense. But the way that a mortgage broke it, because as you guys probably already know, I own a more motgage broking business. So the way that brokers and the banks look at it is if you say, have a ten thousand dollars credit card, they don't go, oh my gosh, money, diarist, how much have you spent on your credit card? And you go zero dollars.
They go, you've got access to ten thousand dollars, So therefore we're going to max out what your ten thousand dollars is because tomorrow you could go and spend ten thousand dollars and that would be maxed out. So they always operate on the basis that your credit lines, so your credit card, you're after pay, your zip pay is maxed out and that's how they calculate your borrowing capacity.
So they will look at it that way, which is why your broker would have been like close those because you probably had some nice, nice levels of credit sitting there. But even if you had literally zero dollars on it, the bank looks at it in a way that just goes, well, actually, we will lend you less money because you've got that line of credit over there.
Yeah. It was good though, because I sort of haven't used them and it's now buy things if I have the money.
Good.
Yeah, So we got our pre approval and then we put an offer on a block of land and then got a quote for the build as well. But the first broken that we went to said that we weren't actually able to get the mortgage for that build, just the land. And I was like, no, I don't believe that.
You're a potato of a broker. Any good broker would be able to find a way.
Yeah, And she was very new to her job as well.
Ah see, that's hard.
Yeah, I know, I just didn't believe it. I was like, no, I've completely changed my spending habits. I know that there's money that we can afford and at the time, the loan for airhouse was only sixteen hundred dollars a month.
Now it's oh my god.
Yeah, it was definitely affordable, Like rent was more expensive than a mortgage at the time. So we went to another broker and she was amazing. She was like, I didn't understand what that person means. It looks like you'd have like six hundred dollars a month left over after all your spending.
Yeah, that's where I get really frustrated. And I adore the industry, right like mortgage broking. I've put my heart and soul into this, right Like I got rid of financial advice so I could focus on this. So if that's not passion, I don't know what it is. And I adore that there are so many new people entering the industry, but I'm also often confused about how they're like, I'm the best at this. Come and see me, and you're like, you've only been working in this for a year.
And I totally understand that you're probably really good at basic things, but when it comes to homeland packages, when it comes to, you know, something even slightly complex, they just don't have the experience and they don't have the knowledge, and a lot of it is around actually knowing where to go. So like I might go and look, you know on the NAB website and go they don't do this, but you, in the back of your mind go, hold on.
I know that at some point NAB did XYZ for this other client, and I know that BDM does this. I'm just going to call them and see what they can do. And you need those relationships in mortgage broking because they're the ones that actually get you across the line, especially right now where everything is so much harder. So tell me, once your new broker said, look, you can't actually get house of land, I'll work it out for you. What was that like? Was that exciting?
Yeah? It was amazing because the price of it wasn't that expensive. I think it was four hundred and forty thousand, and we got forty five thousand from the government. And we also built like a big, beautiful house.
How exciting.
Yeah, I miss it. It was a beautiful home. But I love really living now. And then yeah, so we lived in that for two years and this house out of town became available, and so my grandfather and my uncle are both real estate agents, and I just asked for some advice, and because it was such a rundown house and it obviously needed a lot of renovations. If they hadn't cleaned it up, they could have made one
hundred thousand dollars more than what we paid. But because it was so rundown, we got it a lot cheaper. And also because the housing market just went crazy, we made a three hundred and something dollar profit. Oh my god.
Yeah, that's one of the reasons I got my first house cheaper. Actually was because they didn't want to come back and like tidy it up and get rid of everything, and they weren't in the country at the time, and they like even had like furniture and stuff that we had to get rid of, like and it was I was like, that's fine, that's fine, I'll take your not so good house. I'll clean it up. It will be perfect for us. But you can save some good money that way.
And also a lot of people that looked at the house because we were like, there were a few it's a lot of work, so like that's deterrent for people to that.
I was like, I want it, Yeah, how good? And so then you made three hundred thousand dollars on that property and then what happened.
Yeah, so when we saw our house, we both had carloons. I had just taken out a thirty one thousand or the carlon which I paid off straight away basically, and then he paid off his. He had about ten thousand left. We put two hundred and sixty thousand towards the house so we didn't have to pay the LMI, and then we had thirty thousand leftover for renovations as well. So
we've done. I painted the house myself and my partner took down walls and did all that sort of stuff, and then we paid for a new kitchen, and then we're just slowly renovating the rest as we go.
How exciting. I just did my kitchen. Did you see did you see?
Yeah? The computer one?
Oh my gosh, yes? Did you do your own kitchen or did you have one installed?
Like?
How did that work? Because I'm obsessed. I basically am a kitchen renovator. Now, I like, you let me know, I'll design your kitchen. You let me know, I'll show you how to do it. It's harder than I thought it would be, as in like just time wise, but so gratifying, like people come over and I'm like made that.
So we actually did want to try the Cabudle kitchen, but I wanted like a big farmhouse sink. Oh yeah, it was yes, specific things that I wanted that Kabuda couldn't do. And the price that they gave us was fourteen thousand.
Oh that's pretty good.
Yeah, the person who actually did ours was only seventeen thousand, and we got exactly what we wanted.
So how good? And you got that big farmhouse vibe? Yeah, oh my gosh, I love it. Are you talking like the big I don't know if anyone else is going to care, but like the big white farmhouse like one that kind of sticks out a little bit. Yeah, oh my god, I love it. I have those saved on Pinterest. I do not have a house that that could fit in. But one day, one day, all right, we're on the same page. I love this. So you put in your kitchen, You've now moved in, you're on two point seven acres
and you got engaged. Yes, when did you get engaged?
I got engaged in April, so my part and I had been to go, Oh it's fresh's so very freshly engaged.
How exciting? And now you're planning a wedding? What's that process?
Like, well, we sort of had already talked about it heats anyway, so and a few of my friends had just got married, so I had a lot of information about it. A lot of people aren't taking bookings though, because it is so far away.
Oh my gosh, when are you planning on getting married?
So March twenty six?
I love that. That's going to give you so much good lead up. Yeah, like how good? And have you got like a little calendar reminder in your calendar for the day that the venue you want is going to start taking bookings.
No, so we're just having it at a house.
Oh perfect?
How cool?
So what's the plan?
So it's actually perfect because it means that my part my partner is a landscaper, so we want to do the landscaping at our house. But it just hasn't been an urgency, whereas now we want the house looking beautiful.
Oh you're going to have to plant now so that they're beautifully established. Yeah, I'm going to put my wedding budget into that instead, and then you get to keep it. Yeah you guys, genius.
Yeah, And obviously because we have the land. I got to black found out how much flowers with and I was like, wait, I'm just going to grow them myself.
Oh my god, You're going to grow your own flowers?
Yeah?
Oh, how Like what's the plan? What kind of flowers are we growing?
So it'll just be like just heaps of different ones, like nothing specific, but I'll grow in September and just see what blooms by March.
That's actually so beautiful. Are you going to go out on your wedding morning and pick your bouquet? Oh my god, that is so wholesome. And talk me through the rest of the budget, like, are you going to beat You're growing your own flowers, You're building your own venue. Are we making our own dress?
Like?
Where does the line? Where does the line exist on this?
I wish my mum made her own dress, but I don't think we'd be to do it now.
I feel like the fabric would be equally as expensive as the dress.
Yeah, there's no real set budget for the rest. We're just sort of like we're being reasonable, but also like if we want something, we'll get it.
I love it. Oh my gosh, I'm so excited. I'm going to have to get your socials after this because I'm going to need to follow all Right. That is genuinely so exciting. So let's jump into the next question I have for you. I know you came home from overseas to study, but what do you now do for work? And how much money do you earn?
Yeah? So I'm a registered nurse in an emergency department and I'm also I have my own little business through the NDIS as a registered nurse and support.
Oh that's exciting. Tell me about how much money you earn?
So this year I should make between one hundred and thirty two one hundred and fifty thousand.
I'm okay, nurse.
Yeah, what I know, which is amazing because I cut down my hours at the hospital and doing more of my own business. But I'm home more, working less and earning more, which is really exciting.
Okay, is that you just living the dream?
Yeah?
I love this for you. Can I be really what does your partner do? How much money does he earn?
He's a landscaper and earns about seventy.
Five Oh, okay, bread winner. I love this for you. That is so exciting. Do you sometimes reflect on where you are today and you know you're going, oh between one thirty and one fifty, which is crazy cool. And then when I'm you were like, I am living paycheck to paycheck. I have a finance card because I needed some furniture. My dodgy friend has lumped a group like a guaranteur bill on me, and I now have three thousand dollars owing like, and I don't know whether money
is going to come. Do you sometimes just go life is a little bit different now.
Yeah. So I actually never reflected on it until I started listening to the Money Diaries episodes, and I literally just always get so inspired. I'm like, oh my gosh, that's sort of me.
Oh, I love that it is you, and now you're on the podcast, so it's legitimately you. I love this Money Diarist. You've got a wedding coming up, you already have a big, beautiful property. What are your other big money goals? What are you currently working towards?
Yeah, so obviously our main thing is we just really want to pay off our home. That's our big goal, and then we would love to get into property investment, but it's not something that's urgent at the moment, and we do have equity sitting there in the house that we could start doing it, but it's just not a priority at the moment.
Yeah, very cool. So when you say you want to fully pay off your home by the age of thirty three, how old are you now? What does that kind of plan look like?
Yeah, so I'm twenty six At the moment, I'm putting an extra two thousand dollars a fortnight into.
A a fortnight. Yeah, Okay, someone doesn't understand that we're in the middle of a cost of living crisis. It must be nice. Yeah, that is no shade, by the way, that is just so impressive. I just love that, you know, especially right now when so many people are struggling, there are beautiful stories of people doing really well, like and at the moment, especially post COVID, I think everyone agree
that who do we want to do really well? Frontline workers are nurses, Like, that's exactly who I want to see shine.
Yeah. My partner and I have sat down that other like we like to just evaluate like everything, like every month or two. I think it makes both of us feel better when we can see where our money's going. As well. We were able to cut down a lot of unnecessarily spending and all of our dispose of income, Like we can see where everything's going, and I know we don't really have silly spending or anything like that either, So oh good, Yeah, we know too that, Like I
when spoke to an account about everything. Initially, we did have different savings accounts that we were putting the money into. That our accountants sort of said, like, if you want to pay off your house, you're literally better just putting all your money into your mortgage and if you need it, you can take it back up.
All right.
I have a question about that. Do you have a redraw facility or an offset facility on your mortgage?
Yeah, so I have a redraw because we had such a good inter right when we got our move to it's only five point nine nine percent.
Okay, she's just flexing left flowret and center today. That must be nice. Mine is a little bit higher than that.
Yeah, but we did talk to a broker about an offset account and she said that they offered six point.
One four that's not worth it at this point for you. Yeah, like we.
Would never take any small amount out, but it was only twenty five dollars fee to take something out, So it was just easier to keep the redial.
Yeah, no, that makes sense. I ask because there's always like a pro and a con for both. And I kind of was expecting you to say, oh, well, we have a redrawer because the offset was more expensive. And that depends on when you get your mortgage and how it works, because my mortgage is cheaper with the offset.
But it's very different for very different people. It's just good to be educated, and it sounds like you are very savvy, Like it sounds like you're on top of this now, like I think past you is going to be shocked at who future you has become. Let's go to a really quick break on the flip side. I have a lot of questions for you. I want to know more about getting out of debt by thirty three. I want to know about your investments, and I want to know about your best and worst money habits. So guys,
don't go anywhere. Money Diarist. We are back, and I am so excited about this money Diary because I feel like you have flipped your narrative entirely, and I just love this idea that you've just done it yourself, like you and your partner have worked so hard, and I know that. At the start of the episode, you said, you know, my parents do have money, and you mentioned before that some of your family members are in real estate, so they obviously know what they're talking about. But you're like,
I don't want to rely on them. I want to do this myself, and I just I have so much respect for that, Like that is just so cool. So I want to know, apart from the house that you live in, do you have any investments. If so, what are they.
I only have a raised account so that I put fifteen dollars a week into.
Not only I have a raised account and I am investing currently in the share market, Victoria is what I heard.
Yes, my partner and I do, like we love the idea of investing, but you could talk to so many people and so many people tell you different things, and it's like you can be really overwhelming almost.
That's why I exist. It's crazy, isn't it. You get analysis paralysis.
So last year was really busy for us. I was studying my POSTCRAT and my part was studying business as well. So it was something that we sort of put on the back thender, I guess, and it is something that we want to look into. It's just yeah, there's just so much information out there and we just need to find what works for us as well.
I love that. How much have you got in raise?
I've got one hundred.
Okay, So she's sitting at four figures and she's like, oh, I only have rays. Like sorry, you know how many people aren't investing. And I mean all of your cash right now is going to the property that you're living in because you've got this goal of paying it off, and like, that makes so much sense. I actually expected you to be like, no, we're not focusing on that, Like, our focus is somewhere else. The other thing you didn't mention is your superannuation. My friend, that is a tax ficle,
but inside that tax picle you are invested. So what's your super looking like?
So my supers for about fifty zerousand at the moment.
Are okay at twenty six Yeah, that's definitely worthy of mention here.
So with nursing, they pay I think it's fifteen percent at the moment, and with my business, I should be putting super away. However, I did speak to my accountant and he said, as long as you're paying super with nursing and you want to pay off your house, just put all that money into the house, and then once you pay off the house, you can start putting the money into SUPER.
Yeah. I am obviously wildly passionate about small business and I'm always talking to people about making sure that they're looking after their super. And that's something that when I started my business, I was really bad at I didn't pay myself SUPER because, let's be honest, I didn't have the cash to like, if I wanted my business to grow and my SUPER to grow, like something was going to have to give. So I don't want people thinking, oh, Victoria is a bit delulu, like she thinks that we
have all this money in our small business. We don't. But often when you see people who have really good incomes and then a small business on the side, they don't pay additional SUPER because it goes somewhere else, It goes in line with their values. It might go to a separate investment account, it might go to their mortgage, it might go to the bills and groceries, or it might even just go into paying down something so that
they can become debt free. So I think it's just important to look at it, analyze what's going to work for you, and then make a decision instead of I think too many of us bury our heads in the sand, especially when it comes to super money. Diarist, Sorry about that rant. I'm just very passionate about investing. Talk me
through debt. Before you mentioned that your mortgage was sitting at historically sixteen hundred bucks a month, which was really palatable, and now it's what twenty eight hundred dollars a month. How much of a mortgage and how much debt do you have and what do those repayments look like?
Yeah, so our mortgage is actually our only debt, so we pay fortnightly for that, which is thirteen hundred dollars a fortnight I think. Which My partner and I don't share an account, so we do have that account together. We do have some savings accounts together, but we do have our own money together as well. His income he pays for the mortgage, and then my income will pay for everything else and the saving.
Oh how cool. I like that you've split it that way. Tell me a bit more about was that a conscious decision or was that something that just kind of fell into place. You're like, oh, you play the mortgage. That's one payment. I'll deal with the rest of it because I'm the one that always goes to the shops. Or like, was this something that you sat down and spoke about or just something that happened, Like I'm so pervy on finances in relationships, so let me know.
I'm pretty sure it was a conversation about whether we should just put all our money into one account, and then we sort of decided not to because it is a lot easier having our own money as well. And then when we worked out how much money we were actually getting between us, we sort of just worked out like what to do, and it was just easier if he paid the mortgage and then I would pay for everything else because like all that stuff was already coming out of my accounts.
Anyway, Yeah, okay, that makes sense. So how much is left on your mortgage?
We have four hundred and thirty four thousand, and the house was six hundred and eighty five plus stamp duties about seven hundred and twenty thousand.
Oh my gosh, doesn't stamp duty make you feel sick? Like when you realize how much you're like, that is so much money.
Yeah, and like we're in Victoria, so it was forty thousand, but if you're in New South Wales it were in like fifty.
Don't talk to me about it. I bought in Melbourne and yes, I do not want to talk about it. I'm still triggering. Do you know what stamp duty is though, because I find it wild? So way back in the day they used to transfer land titles, you would have
to go to the council. You'd have to go, you know, to a government body and you would have to go in with all your papers and the other person to like do the swap and they would put a stamp on it from that council and say, hey, all right, this has gone from money Darist to Victoria, or from Victoria to money Darist. And it was there like admin
processing fee, so it used to be small. That is now the admin processing fee for us to transfer properties before real that's like a government fee or a state fee sorry, that they charge for us to just transfer it. There's actually not a lot of work involved. In fact, I would argue there is less work today than the days where you used to go in and get a legitimate stamp on a property deed be for real.
Yeah, it's so crazy too, because like when you look at buying a house, if it's not your first home, you sort of at first you don't really think about that. And ours had a price range, so the highest one was seven hundred and twenty, So if it had it been about only paid seven hundred and twenty, we would have paid seven hundred and sixty thousand.
Yeah, it's wild, isn't it.
Yeah?
Oh my gosh. All right, Well, I'm excited that you're in a good financial position, and it sounds like because you only have four hundred and thirty four thousand dollars left on a property that arguably cost you nearly seven hundred thousand dollars, you've got some nice equity which is very attractive, which is probably going to get you a lot closer to that goal of getting into property investing with your partner. Tell me, now, what do you think
your best money habit is. I feel like you've learned a few over the last few years.
Yeah, I think I'm very conscious with our lack with budgeting and everything. Just we don't really even budget. It's just that we're always looking at where our spending are and what we can cut it down and I'm also not impulsive, like if we were to ever make a big purchase, we actually talk about it a lot and
think if it's worth it. And especially with renovating a house, it can be like it can be a bit exciting and you want to do things all at once, but even though we have the money there, it's like sometimes it's not the best time to do it. So I think that's a good money habit that we're quite smart with uspen.
I feel like you guys sound like you've got good delayed gratification, like you're able to go no, no, no, like we don't need that today because we're going to get a bigger, better, something down the road. I'm really bad at that, so I'm very envious. Tell me what's your worst habit, Sure you've got one. You can't be this good at money.
I do think that because I have been in positions where I don't have money, and now that I do have money, I can be a little bit scared to spend it. Like we have holiday accounts and everything, and the money's there to be spent on holiday accounts, but I don't like spending, like I will spend money that I have elsewhere, like I don't like seeing the money get too low, which is I think because I'm so scared of not having the money.
Yeah, no, I get that. I feel like that's part of your money story, Like that's part of you having gone through situations where you were probably so stressed, and honestly, at the start of this episode, you were saying, I didn't even tell people that my friend had blocked me and goes to me because I was embarrassed that I owed this money on her. Behalf Like, I feel like
current you would not do that. But also, if you've been through circumstances like that, they've created a bit of trauma and now that still exists when it comes to money pressure. Is that something that you're like, oh, I totally get that, or is that something that you're like, oh, I'm getting through it, like it's not as bad as it used to be, or like where are you sitting on that fence?
Yeah, I don't really know. I think it's all very subconscious, Like I honestly forget about a lot of things, and it's not until I actually think back deeply into it.
I'm like, oh, maybe that's why so normal.
Yeah, like my mum is well off now. But my parents had got divorced when I was a bit younger, and she was working in like a retail store that she just didn't earn enough money and I had a ridiculous rent and it was quite stressing for her. And I think, like I have seen that version of her as well, and like, I just want to make sure that I don't have to have that life either.
Yeah, it's so stressful and seeing a parent go through something like that, you want to be able to help them and you want to be able to support them, but at the same time you're learning along the way that maybe that's not a path you want to take, Like it's a very expensive gift your mum gave you. Yeah, so talk me through this, because at the start of
the episode, I was like, all right, give us your money. Great, and you're like, look for you, I think I'm a B plus and I was like, all right, no worries. And then we started getting into it and you're like, look, my friend took me for a ride. You know, got this credit card? All made sense. You used to have zippay, used to have after pay. There's a little bit of room for growth, but your zippay enough to pay a clothes. You don't have that debt anymore. You've you know, wiped
out this debt that your friend gave you. You've always had three jobs since you were fifteen, Like, be for real, that's a lot of jobs. You're now a registered nurse. You mentioned before you not only are you a registered nurse, you've also done your grad dip like you've gone back and done post grad studies. Not only that, you have your own business on the side, you're earning between one hundred and thirty one hundred and fifty grand. Like sorry,
fact check, just for everybody listening. She's twenty six, like you, to me are a child, Like you are still a baby. And that's not me being rude or mean. Like I just look at someone who's twenty six and go, they have their entire life ahead of them. Like the fact that you're so well set up, you're so financially savvy that you're having your wedding at home and you're growing
your own flowers. When you saw the cost of flower like that is iconic, Like not only is iconic, but like how beautiful You're going to have these flowers that bloom the year after your wedding. In your garden that were your wedding flowers. Like, ah, I just think the sentiment will vow you there outweighs the financial benefit. You were smart about seeing a broker. You knew when to push back on a broker to make sure that you were getting what you needed. You were like, no, you're
pretty good at this. Like, but also, you're not giving me the outcome I need. I'm going to get a second opinion. And that second opinion led you to getting a property that you got to sell for three hundred thousand dollars. More like you got a three hundred grand profit which got you into your family home. Now, like, I have a lot to go through. I'm going to stop there though, because I think that you're getting a
sense of where I'm going with this. My friend, if you're really a B plus, tell me what it would take to get you to an A plus. If you've listened to this and you're like me, maybe I'm not a B plus? Where are we sitting after this comment station, my friend, I'm.
A bit more than a B plus.
Oh really, I did not see that coming. I am shocked and horrified.
I wouldn't say that I'm an A plus or anything. I think that even though, like I want to pay off my house and stuff, I still think that it would be beneficial for me to invest or do property investing just for like the future as well. So I think that would Yeah, that would be what it takes to get to an A plus.
But what is in the way, Like, I need to understand what is in the way of you becoming a property investor, because right now, all of your ducks are in a perfect line to put you there. You right now just need a bit more time. Is that right? So you're telling me that time is the thing that is going to change you from a B plus to an A plus because your plan's perfect. Yeah, okay, all right, brag about it. I'm very envious but also so in awe that you set yourself up like this money diarist.
I am so impressed, and I'm just so glad that I get to share your story with our community. I'm so excited that you were a money Diary listener and now you've become a money diarist, Like that's the coolest thing ever. And to me, knowing that you know the content that we create motivates you, Like, isn't that cool? Like I don't know. I have to pinch myself sometimes because often the podcast is just s you are me.
We're currently sitting online doing a zoom, just having a chat as friends, and I've got this set of questions that I ask all of my friends that come on the show, and it doesn't feel like so many people listen, and then you realize the impact in You're like, this is cool. This is changing people's money stories for the better. So I'm so glad that we've spoken and I've gotten
to share your story with the community. Unfortunately, this has been a long one, so we have run out of time for today, but I'm really grateful that you joined us, so thank you, and I know our community is gonna love this story as much as I have.
Thank you so much for having me.
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