She’s Good With Money, He Was Deep In Debt… Here’s How They Turned It All Around

Hello.

My name is Satasha Nabananga Bamblet. I'm a proud Yr the Order Kerni Whaltbury 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.

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 that lets you be pervy about other people's money habits for educational purposes, of course. Welcome back to another episode of our Money Daries, where I get the absolute pleasure of sitting down and talking to one of our incredible She's on the Money community members all about their journey. Let's jump straight into it, because this week I got a message and it sounded exactly like this, Dear She's

F, I would probably give it an A because I feel like I'm on top of my money and I consider myself good at saving and have also helped my partner get into a similar position. But also I would love to get a little bit more educated in the realm of investing, as I've only just kind of started to dabble my toes into that.

I love that and I adore that. You're like, no, I'm in a because so many women undervalue how good they are at money, Like They're all like, oh, I'm a C. And then I'm like, are you really a C? Because we just went through how good you are at money? I love that? So can we dive a bit further in? You told us in your letter in a little bit about your money story, but I need to know more money, Darrest. Can you tell me a bit more about that money story of yours?

Yeah, So I grew up with my family, so my brother and my parents, and they went through some struggles, some hardships early on positive ending to their story, but they pretty much were the type of people that would take on any job. They did things from cleaning to office work. My mum even worked in an avatar at one point, so they pretty much took on whatever they

Yeah, I love that. Can I ask a little bit more about that experience of getting your car repossessed, because like you were like nine, you said, so you were quite young. But was that like a really traumatic experience or was that something that you know, after it happened your parents were really upset, or like, what about that really stuck in your mind?

I think it was just the image of seeing the car being towed away and my mom's reaction to that. So my mom was obviously quite devastated, was upset, and that's just something that's kind of stuck in my brain. I couldn't tell you, you know, the circumstances as to how that happened or anything around that. It's just something that I remember, and I could be remembering it wrong for all I know.

No, but it is like a pivotal moment in your journey, and it's always something like that that you're like, it was that moment that I was like, Wow, that's something I never want to experience as an adult.

Yeah, for sure.

So talk to me a little bit more about what you do now for work and how much money you earn.

So I'm a teacher, so I suppose giving myself an a I'm used to grading things.

Now, so she's accurate.

I would like to think I'm on point with grading. So I'm a teacher. I've been teaching about nine ten years, and I'm currently earning one hundred and sixteen thousand plus.

Super very cool. And how long did it take you to get to earning like one hundred and sixteen thousand? Do you remember like your first salary as a teacher. What did that look like?

I think the first salary was probably somewhere around the sixty seventy thousand dollar mark. It's not too bad, not too bad, like a good starting out, you know. I mean, I did go to UNI and did two degrees to get there, so it was nice having that fairly solid income coming in that I certainly wasn't used to it at the time.

No, I love that. And earlier you said, like, hey, my parents would literally do any job like they did cleaning, they did, you said, office work, and your mum even at one point worked in an abatois. Like did your parents I'm assuming they didn't go to university? What was that like? Getting to graduate from UNI and your parents having not had the opportunity to have a career as much as you did.

It was a good feeling to feel like I had accomplished something. And I think I made them really proud in doing that, because they did. Both of them didn't graduate high school. So my plan was to graduate high school to start off with, and then I also wanted further that and I wanted to graduate UNI and ended up doing two degrees. So I started off with a media degree essentially, and then I went and did a master's of teaching.

I love that. I just know that your mum brags about you all the time. She tells all her friends, doesn't she like, she will tell everyone? And what did your brother go on to do?

He ended up welding?

Oh, she tells everybody. She tells everybody about her two kids in their careers, Like, I adore her. So have you ever had that conversation with your parents? Like, obviously it's such a different world, right where once you've kind of fallen into teaching and if you love it, like it becomes a career in comparison to like your parents, like finding a job and then like trying to find

Not? Like in so many words, but I don't know that particularly. My mum's quite happy that I'm in a stable position that I'm not having to jump from jobs, job or find avenues to make money, so that I'm basically in a position where I don't have to stress about those things totally.

And I just know that she's like, she's just excited for you. She's so proud. You mentioned in your letter in that you have a husband, So tell me a little bit about his financial side, like how much money is coming in to the household from his income.

So he's recently become a teacher as well, very cool, So he's put in the hard yards to the university part time so that he can have a better money story as well. And now that's kind of finally come into fruition, so it feels like we're actually getting somewhere in that regard. Unfortunately, his main problem was getting a store credit card.

Yes, okay, slippery slope. Lots of us have fallen down.

A very slippery slope. So a three two hundred dollars item turned into five thousand dollars of debt used on things that weren't from the store, which as we all know, is huge interest.

Well, nobody gets those credit cards, being like I'd love to get into debt, Like, no one says that. When they sign up, they think, oh that's a good idea.

No no, And so unfortunately that was just something that was snowballing him, and he eventually asked for help because at the time I didn't know anything about it, and so we put some plans in place to try and help him get rid of that debt. Unfortunately, each time we thought we were taking more of that debt, but he kept adding to it. So eventually we just ended up consolidating his debt into one loan that he couldn't basically take money out.

Of like I feel like sometimes that's the best outcome. What was that conversation like, because I'm assuming that you were wearing the pants in that conversation and you were like, right, enough is enough? I am taking this off you. We're consolidating it, you're not touching it. How did that go? Because you did say, feel like I'm pulling my house? Been a lot for the right. Yeah.

I mean, obviously our money habits are completely different. He's very much a spend what he has kind of person, and if he's got small things that he's wanting to do, he tries to save that money for it. Whether he does or not is kind of up to him. But I basically make sure that I wanted him to be involved in that process. I wanted him to understand my thoughts around it and whether that's what he actually wanted

If that makes sense, That totally makes sense. So what does that mean when it comes to your big money goals at the moment, what are you guys currently working towards? Because I feel like you've got that like fresh clean slate and it sounds like we're a two year old at home. You've got a lot of motivation to build right. Yes.

Yes, so I've always been goal oriented. I'm always saving for something, and I like to spend big lumps of money on things because I feel more accomplished that way.

It does feel pretty good, doesn't it. Like I don't know everybody different sources for different courses, right, but like when you finally achieve something and you're like, that was a solid five grand like in it. Yeah, that just feels good, doesn't it.

I like spending more than two thousand dollars at a time, so whether it's a car, or a laptop or a new mattress because they're expensive.

Oh my god, why are they so expensive though they are like illegal?

Yes, So at the moment, like we kicked off some bigger goals, so we saved together to get married. We then also save for a deposit for our house. So we've now got a house. But our next goals is we're looking to upgrade our house because I don't know about you, but toys just seem to inundate and explode.

My entire loud droom looks like the toy library. That's not how I envisioned that loud room to look. And also the house that I thought was, you know, really spacious. I mean it's not a big house by any stretch of the imagination, but pre baby me was like, nah, heaps of space. It's all of a sudden tiny.

Yes, I one hundred percent feel that, And this was never going to be our like you know, growing up with kids house. But unfortunately with the COVID and that situation because we moved in during COVID and then after that, houses just went crazy. And now it's like, well, can we even afford to get a bigger place?

I know, right, Like it changes the goalposts so much.

Yeah, so that's one of our bigger goals. We're also wanting to get another car because one of our current cars is now seventeen years old and it's costing us a fortune whenever we go to get it serviced. So it's at the end of its life.

Yeah, I know, thank you. Time to switch out. You mentioned that you saved up, and I have to ask, because I just love love, right, how did you save up for your wedding? And tell me a little bit about that.

I was such a control freak, I thould tell me. I had my wedding budget on an Excel spreadsheet, just as my own budget is. I researched how much everything was going to cost, and how much we would like to spend and how much we could afford at the time. We ended up spending about twenty five thousand dollars.

Hey, that's good.

Yeah. I pretty much looked at our values, what were the things that we must have, what were the things that we could kick to save money, and yeah, we made those decisions together, which was lovely. I wanted him a part of it, so he went to most of the meetings and we sorted out what we wanted to do and yeah, so things like, for example, I'm not a big flower person, so I pretty much just had the bouquets and that was about it. That's so fair, And flowers are so expensive.

Oh don't even I am a flower person, So you can imagine what that looked like if you were a flower person and then you also get married. It's ugly. It's not good.

No, no, everything's expensive, to be honest. It's like when I got my first loan for a car, and I vowed off personal loans since then because when I calculated the numbers and how much I was actually paying for that car in the end with the interest, I was like, no, that's crazy. Vowed to pay it off early. I did. I paid it off about two years early. Oh good. And then I got charge fifty dollars for every month that was left out standing on that loan.

Why are they so shady?

Very shady? But I learned from that experience, and so when we were planning for a baby, I was like, well, we need a family car, something that I'm not going to hurt my back getting baby in and out totally. And so I got a bigger car and I saved up forty one thousand dollars in about a year and a half.

What do you want to run this podcast? Because like, I feel like you're just really good at money.

I do like saving I must have been guys.

Guys. Side note, she said she was a nay. The story is checking out. The story is absolutely checking I believe her.

So yeah, forty one thousand dollars. So that's probably one of my biggest accomplishments. I mean, when I was able to save essentially one thousand dollars a fortnight.

That's crazy, like so cool.

I was making sure that I could get that car when I needed to, and that was a brand new car because at the time, that was the time when you couldn't get a brand new car because they were like a year out on the boat and all the secondhand cars were just jacked up in price.

Oh yeah, it was crazy.

And I was looking at the new cars and they weren't that much more expensive. It was like a couple grand more. And I was like, I wasn't in a rush. Baby was still like a year off, and so I just ordered it and it ended up coming in early, so I had to find that money and make sure that that was saved in time.

Yes, Love, talk to me about this baby planning process, because if you say, oh, the baby was like a year off, obviously that's a planned baby because you can't just have a baby in twelve months. I don't know if you guys know how pregnancy works, but that's not how long it takes. So did you guys go all right? We're going to get our ducks in a row, We're

Yeah, we always wanted to have kids. The planers have kids.

I mean you're both teachers now, so like this story makes a lot of sense.

Yeah, we both wanted kids. I particularly wanted to be married before I had kids. It's just my personal preference. We saved for the wedding, so we figured out based on the current income and how much we could save, particularly so that we were both saving the same amount, because that was just where my head was at at that time. We both saved four the wedding, and unfortunately

I don't want to have a wedding if there's only five people attending, and I've already planned literally everything with my spreadsheet, I might just wait.

Yes, so that got postponed, which is fine because all the vendors were able to make that date all what one So that was fantastic news. We then basically the wedding had already been paid for at that point, so we had an extra year. So that extra year, I was basically just saving, just saving in general. So I was saving predominantly for baby, because we knew we'd have to, you know, buy the cot and the bassinet and all the bits and pieces that cost lots of money, and

And if you can plan it, like, it's just a much easier process to go through, like if you've got more of like a run up. And I mean not everyone has that grace, but you were obviously like, okay, I'm planning this to a t. Were you obviously grateful for that. Once baby did come around, You're like, oh, my goodness, what will we have done? And if we didn't plan.

One hundred percent, I don't know how people do not plan to like all of a sudden be pregnant and be like, oh, now there's all this money we need to find.

It would be so stressful, Like I'm very lucky that I also planned my pregnancy and all of that stuff, but like sometimes it just happens, and like that's fine, But my goodness, the amount of stress that these mums and parents would be going through being like, Okay, so we have nine months and we have nothing.

Yeah, and the first is always the most expensive. So we're planning for our second now, and so thankfully, I don't think it's going to be as costly, Like we've got all the starters, you've got.

All the paraphernalia. Yeah, you've already got the big car, You've got the basinet. And I mean, honestly, like to distill it down because I don't want to scare people. I think the newborns aren't too expensive, Like at the end of the day, they really don't need much. But in twenty twenty five, the Internet would have you think that you need everything under the sun for them. You need the fancy carrier, you need the fancy bascinet. If you don't have this particular item, what are you doing?

Weirdly, you'd think I had a spreadsheet, but I really didn't.

I love that I did know. I was like, oh, this girl is a spreadsheet queen, and I'm sure you'll agree and say I am, But like, why no baby spreadsheet?

I think because I had enough money saved that I was like, this will be enough, and I was just going to chip into it. Like I had done my research. I'd looked into the prices of things. But I was also quite friggle in some regards as well. So for me looking at a pram or like a pram is, as you said, a mode of transport. It didn't have to be fancy dancy for me. Some of the prams, you know, they're like two thousand dollars, and I'm like, I'm paying for the leather and a peak few to

It's crazy, right, And like, don't get me wrong, because I'm probably on the other end of that, Like I love my pram, but like I just I really enjoyed it. But like it's so funny talking to other moms, They're like, yeah, I prioritize this or not that. What do you reckon? Was your bougiest baby purchase that was worth it?

I honestly couldn't tell you. I don't think I really have a big bougie purchase. I mean my car is the big one because my back would have been out, Like I had a lower car, and my back has always been bad in general from my previous car accident. So just the thought of getting a baby in and out of a low car was certainly not my to do list.

That's so fair.

I love my change table. I know some people never use their change table. They buy a change table and never use it.

See, isn't it crazy having this conversation because I'm like, oh, I love my PRAM and you're like, oh no, don't care about the PRAM change table. I'm like, we're not all changing our babies on the floor.

I don't. She just wriggles more.

Yeah, I feel like I have a child Ninja like he now the second is nappy's off. He's like, it's go time. We've got to leave. I've got to leave. I've got to evacuate the building in point two seconds, and then like he will do anything to weasel away from me.

Yeah. I feel like at least the change table that they contained to the table, that's fair, unless they really have no fear and want to jump off it. But thankfully mine does have fear. Yeah, I think the change table like not that it was a expensive purchase. In fact, I'm one of those people. I don't like white. I'm a black girl, and so unfortunately all the change tables were white, so I ended up spray painting mine.

I know, I am also a black Girl. So I have a black cot. I have black furniture in Halvey's room, black everything, Like you would have thought that it would have just come in black and white. Turns out it does not.

No, it does not, and so I spray painted it.

I love that.

Yeah, I don't really have a big bougie purchase on behalf of my kid, to be honest.

No, I love it. But it's so good that we can talk about these things and it has shown us very quickly, like everyone's values are so different. So when you're talking about baby budgets, like your budget would be significantly different to my budget, and what you're willing to spend money on is going to be different to what I would prioritize. And I think that's really fun.

And weirdly and our finally recently, so I'm recently new to your podcast. So I started this year this year.

Oh she's new new, welcome, thank you for joining us.

And I'm one of those people that I can't read a book halfway through, so I started from the beginning. So I'm still listening to Georgia king.

Oh gee king On too, gone on to her. She's still living in London. For those of you who want a little bit of a check in. She's live, love, loving life, and she's thriving. I miss her, like she's good.

Huh, yeah, she's good to listen to. So I recently listened to the Baby episode about budgeting for a baby. I think someone said the stats of you know, it costs between like like there was a huge range and I completely know why.

Now yeah, And do you know what, I got a lot of flak for that podcast when that one came out because people were like, oh, Victoria's wildly inaccurate, like, this is not what it costs cost me x and you know she's quoting why. And I remember being like, my goodness because I wasn't a mum when I posted that. And I remember being like, oh, I'm feeling really guilty because I put so much time, energy and effort into researching that to make sure that it was, you know,

You know?

Do you need one? All of that stuff right? And now I look back on it that I am a mum, and I'm like, oh no, I was right, Like I get that you guys had a different experience, but like, this is just the average, This is just the statistics.

No, really, only just replacing our old car and the house. Unfortunately, I feel like it and the baby obviously, but it feels like all of those three goals I want to do like in the next couple of years. And so it just.

Feels you just want to go bang bang bang. It feels expensive, it feels like too much.

It's kind of overwhelming, particularly the house, because just the way the market is, it's like, I don't even it gives me anxiety. Just think about how that's going to work.

Yeah, totally. All right, let's go to a really quick break because I want to keep chatting to you. I've got a lot of questions and we'll get to them in just a minute or at money Durst. We are back and I want to talk a bit more about investing. So talk to me about your investing journey. You mentioned that you're new to our community, which I love. We've been getting some new friends in twenty twenty five. Are you on your investing journey? If not, why not? If so, what is it I am.

On my investing journey. I do have about five hundred dollars in micro investing love money from this podcast. That's kind of prompted me to do that.

Ah, I love this. I can't tell you how much genuine enjoy I get when people are like, oh, I listen to your podcast and now I invest I'm like, yes, this is the best.

So I have that five hundred dollars in that and that's kind of my designated money for my daughter. So that's my way of being like, that's her kind of fun for when she's older, her to use however she wishes. And this podcast has also prompted me to go see a financial advisor.

Love. Well, I mean, you two are earning really good money and have like your stuff together. You've got a house, You've done the wedding. You're like, I just feel like that's a good idea.

Yeah, I just wanted to see if we could make Now that we've kicked off some of the bigger goals, it was like, I just wanted to see if we can make our money work for us a bit harder. So after seeing a financial advisor, I now have put about ten thousand dollars into education bonds.

Oh exciting. That's a lot of money. She's really bitten it and gone, let's go.

Yeah. So once I'm in there because I had that just sitting in savings at the time, and that this was only probably a couple of months ago. And now I've set up to put about twenty three hundred a month into that advessement account.

I love that. Oh my goodness. I'm not gonna lie when you said I'm new to the podcast and like I've had all these other really big financial goals. I'm thinking like, she's you know, maybe only very very very early on. Girl, You're like, smashing everybody out of the water. No wonder you said, I am an a. I can see that. I love that.

By dipping the toes, I mean, I've only just done it in the last couple of months. But when I go, I go hard. What do you mean dipping the toes?

Like you've just gone okay, I'm so zero to five thousand, let's go.

I have maybe dived in. It is a better analogy.

And now I really understand the comment where you said I feel like I'm pulling my husband along for the ride. Yes, queen, you are, like you get on, we're going.

I dragged into the financial Advisor's like I don't know why we were doing this, but you know, sure, I'm in for the ride, and he's like, yeah, everything makes sense, let's do it. And I'm like, cool, I'm so excited.

And you know what, It's nice that he understands it but also gets that, like you're clearly excited about this, So he's like supportive of you, but also clearly respects you, know, your advice, because he let you get him out of debt and go through all of that together. Like I'm assuming you have a pretty strong relationship because that's what I'm picking.

Up there, we do. I think he sees the light at the end of the tunnel now that we are out of debt and he can finally save his money for things that he actually is generally passionate about. So he loves his footy and now he's actually able to go to footy games quite frequently, partly because of his change of work as well, because he used to work

Yeah, I love that, And that's I guess what financial

We actually went high school together.

Oh, that's so cute.

We got together after high school though, Yeah.

That's okay. Like I wouldn't have dated my husband if I met him in high school.

So funnily enough, he was the person in high school, the cocky guy that would go yeah, and about five years time, I'm gonna be with you, and yeah, that's what happened.

Oh the audacity. But also, sir, you were not wrong.

No, he was not wrong.

Oh my god, he wasn't. Did he actually go, oh, we're going to get together. I'll end up marrying you?

Yeah, in front of my current boyfriend at the time. It was a bit weird.

I mean, was he rong?

No?

Who wasn't wrong? In the end.

That is so funny. It's like when I talked to friends and like even on the podcast about Steven my first day. On my first day, he's like, so, what do you reckon our wedding song will be? And I remember being like that should be a red flag, like that should like for anybody else listening to this conversation. That should have been a really big red flag, but I just saw it and thought why not.

It's amazing how something seem like red flags to some people but not to others.

Yeah. No, like for anybody else, I would have been like, babe, that's a lot like are you sure you want to go on a second date with this guy? And I did, in fact end up marrying him. So anyway took me through debt. Let's move back to that. You have a mortgage and you're out of personal debt. Is that right? So tell me a bit more about your mortgage.

So, our mortgage is currently sitting at three hundred and forty thousand, and our house was originally like four hundred thousand, and now it's up in value to like seven hundred and twenty thousand or something ridiculous at the moment, what.

So you purchased for four hundred and it's like worth seven twenty now.

Yeah, it's like I said, the market's gone crazy.

Yeah, but that also makes a lot of sense as to why you're like, Okay, cool, we have this house and to move house obviously into a bigger one, you're probably looking at like a minimum of eight hundred thousand dollars if not more because of how much. And I'm assuming there you're in and you're like, wait, hold on, I didn't want like eight or nine hundred thousand dollars worth of debt, like we started at four hundred. I thought that was fair. So what do you think that

It is. I really don't know what the answer is because like when I think of, you know, if we build, then I don't know what the options are in terms of building, because obviously we would prefer to have this place and rent it out if we can afford to do that. But then obviously if we build, then we're having to pay for both mortgages as it's going, which is a lot of money.

Well, yes and no, So I need you to talk to a mortgage broker. You can either come and see my team at Zella Money, or your financial advisor will probably have a really good recommendation of someone that they recommend. But when it comes to building, you can actually stage your mortgage so you can continue to live in your current house and you might not pay for your mortgage repayments until like settlement or when keys get handed over.

Yeah. Yeah, I thought there might be options. I just hadn't looked into them yet.

Yeah, haven't explored it, but they exist, I promise you.

The other option is obviously buying established and then that has also other fees involved stamp duty, et cetera. That is it a lot of money when it's an eight hundred thousand dollar house, or if not more.

One hundred percent, it starts to like literally consume it. You're like, hold on, if we get close to a million, we're talking like at least fifty thousand dollars in stamp Dudy, that's a lot of money to feel like you're just flushing down the toilet, and like, don't get me wrong, it can be like, you know, absorbed into the cost. But then it makes you really think about it. I love that. So we're not in any other debt. We just have three hundred and forty thousand dollars owing on your mortgage.

That is it. I've paid off my hex deet. My partner still has his, but he and they just finished, so that makes sense.

Story checks out still, Yeah, yeah.

So yeah, I've worked pretty hard to get out of debt, especially after my car loan. I can tell that was an eye opener for me when I realized how much interest it actually was because I didn't really know anything about loans. I'd never had a loan, never really looked into loans. We were just walking through a car yard and I'm like, oh, I like this car, let's get it. And they pull me into the one of those little offices and go through finance and all that, and I'm just this little girl going yeah.

Sure, And it made sense at the time. Yeah. They would have been like, oh, it's just this much per week. Can you be like, oh, I can totally do that, no worries, Like so easy. But it wasn't that easy because they stung you on the interest and then you felt like you've been screwed over and that's not fun for anybody. No.

Well, I mean I could afford the repayments that that wasn't the issue. It was more of that. I was angry with myself that I could have spent two years saved up for this car and paid it out right, but I didn't do that. I got the loan because it was just the easy way.

But you've learned now, and I think that was an important learning piece in your journey, right, because if you hadn't experienced that, I don't think you'd be as passionate about staying out of debt, or as aggressive about saving or whatnot. I think you've done something good for future you.

Yeah, for sure. I think it was the kick up the butt of you know, loans are bad in saying that I didn't stay away from them more completely. I had a credit card, I had a store credit card, but I just used them really wisely because I am very good at my money. So when I did the store credit card and bought furniture for our house, very much like I'm not paying the minimum, I am working out exactly how much I need to pay before the

Oh how good.

The only reason I got it was for accommodation overseas, because they.

Oh isn't that the most annoying thing? Ever? I mean, it does make you feel more secure because you're like, okay, cool, they can't get to my life savings and whatnot. But like for someone like me, like I just know that me having access to a credit card is not a good thing. Like I can be really honest about that. It doesn't work for you. Clearly you made it work, and I just wish I was a little bit more like you. But I just I can't be trusted.

Yeah, I know my parents had a credit card and it did nothing but bad things for them. So I was always like, oh, I shouldn't get a credit card. But then I was like, yeah, I'm really good with my money and I can be strict on myself with my money, and so I knew that the credit could would be fine for me, and it was actually a really good cash flow kind of system for joint spendings

Oh I love that. But you were like, I am not doing this while you were in debt, sir, Absolutely not.

Well no, before it was like, well you're in debt. I don't like being in debt. And so the fact that if we joined our money that's my debt, and that just didn't sit well with me. And then I also earn quite a bit of money, and so I liked holding on to that fact that you know, I worked hard for this money and this is my money. But I'm also not in denial. We're married. My money's

It does change it.

It makes it more sense to combine our money. So did that, and so now we have our own new system. But I'm finding cash flows a bit harder now that I got rid of the credit card.

Yep, totally.

So now I'm just looking at tweaking our structure, like our bank account structure, so that I can.

I can do that for you. I will give to you our budget and Cashlow master Class that I've recently renamed to the Money master Class actually, and it basically has a couple's like spending spreadsheet and do you have an offset on your mortgage?

All of my accounts are offset. I was one of those people that had, like, I think the bank was like, oh, you have thirteen accounts and they're all offset accounts because my bank good.

I want every single dollar that comes into my bank account to be working as hard as I do for it, So that makes sense, sir.

Yeah, Well, my bank told me they allow up to ninety nine, and I'm like, who has ninety nine offset accounts?

I don't know, but I'd love to meet them. If you have ninety nine offset accounts, please come on my podcast. I we'd love to talk to you about what the hell you're doing with ninety nine accounts.

Yeah, it was crazy, but I basically had Originally I had accounts for me, I had accounts for him, and I had accounts that were joined, and so now we've kind of combined those. So we have a bill's account with all our necessary items that we need to spend. We have our we call them upket buckets, which is our spendings that we each don't have access to, so that you know it's completely guilt free. That's your money. If you want to save it for something special, go ahead.

Yeah, love love all right, Well, I'm still going to give you the money master Class because I think it'll take that to the next level. But it does make use of making sure that if you have a mortgage, you're using your offset accounts to your advantage and like cash flowing it that way, because like obviously it would make sense if you don't have like an offset for like people who are listening, it still works and there's just a different strategy around it. But it like order

I look forward to seeing it.

It's very pretty as well, she's very peachy. I don't know if your partner will love the peachiness. But like again, here's along for the ride. Sit down, sir, let me show you money diarist. You said, I'm an a. I need to know what do you think your best money habit is.

My best money habit is that I am very good with my money. I like to budget and nowhere all my money is going. So you know, my spreadsheet has everything accounted for, at least everything that I've come across, and I review that constantly. Every time something goes up, I go in and I change it and I play with things and be like, oh, cost of living's gone up, we might need more money for food, petro all that kind of thing.

So isn't that annoying? Though You're like, I'm not even tweaking it to save more. I'm tweaking it because like groscerias are more expense.

Yeah, pretty much. And then it's things like now that I've got a daughter's like, oh now we've got to think about Mother's Day gifts and Father's Day gifts that I didn't even think to put in the budget because I'm like, yeah, I've got my mum and dad, but I didn't think about us and the fact that we buy our own gifts.

We actually do do that.

Yeah, So yeah, I guess it's just the being able to know where all my money is going and budget clearly. But also I'm very good at like setting goals and planning those goals. So when I planned a trip to Japan for a month, I knew how much that was going to cost me. It's going to cost me about ten grand and I worked hard for that, and I had a graph that I had printed out and shoved on my mirror. And if that graft every month, I love that so much.

You are my people. I'm so glad you found our podcast. By the way, you are in the right place.

Yeah, so I just needed that visual enough, so I had a digital version of it, because I'm that kind of person.

Of course you did. I love this like you are my people. Welcome home, by the way.

Thank you lovely to be here.

So tell me you're in a but like, what do you think your worst money habit is.

I'm a bit of a hoverer.

A hoverer. I don't think I've had a hoverra on the podcast before Hora.

So I guess my partner would say that I'm constantly watching what he's doing, particularly before we've joined our monies. So it was very much like he would ask for money for me to transfer him so that he didn't have access to all his money because he would spend all his money. So he asked me to do that, and we tried a fortnightly allowance, but he'd spend it all in a day or two, same with a week.

Hey, you've got to find a way to make it work. And if you guys are happy with that manual process, then I'm happy for you.

Yep. I mean I could do without the constant transferring money, so I'm happy now that we've got the combined finances.

You're like, this is actually really annoying. I'm glad it's working for you, sir.

Yes, it got a bit much in the end, So I think combining on money's really helped. And I think it's also putting more onus on him to learn how to save his own spending's money, so if he wants to go away and do stuff or go to the footy, he can save his own money to do that.

You've got to tell me more about what a hova is. So you're watching him, you're tracking all of the expenses. Obviously that has like worked out for him, But why is it a negative?

It's a negative because while it's helped him money wise, it has put a little bit of a strain on the relationship because it's obviously he'll be like, oh, I need sixty dollars, and I'll be like, well, what do you need that for? And then if it's not something I particularly like, then I might question that, and so then it's it becomes this he thinks I'm watching his every transaction, which in reality I wasn't. Occasionally I would see it and ask a question.

Yeah, I didn't actually care that much, but if you're asking me so consistently for cash, like me going what'sapp for? Kind of makes sense. But I can see how he would then go, oh, I feel like I'm being tracked. Yeah, because that's the system you chose.

Yeah, I didn't want that system initially. It was just the system that worked for him at the time. And now that system has changed and it seems to be working well. So that's you know, off my back, which is good. I can basically automate all my transfers and I don't even have to transfer money very often.

Oh, how good. So she's a bit of a hover. Now talk to me. You said, I'm a A. Why not a plus? Like, what would it take for you to go from an A to an A plus? Because I feel like you're nailing it for me.

It's just like I want to understand the investment world deeper. Like you know, I've put money into microinvesting, I've got money into education bonds, but I feel like I don't fully understand them, if that makes sense. Yeah.

I feel like it's going to take time in the market, so like over the next few years. Like you can't just read a full textbook and be like fully get it. I feel like you have to experience it to think go, oh yeah, totally, I understand it now.

Yeah, so I think that's just something that will come with time.

Oh how good. Like to get an A plus you don't even have to change anything, you just have to wait a little while. That's a good deal. Oh my goodness. I have loved this. I've loved getting to know about you, about how you planned for your wedding, how you met your husband, how you had a baby, how you budgeted for it. Like I feel like I've gone through a lot in the past while with you, and I'm very grateful for it. But unfortunately you and I are running

Have a good day.

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