What does it take to turn a paycheck-to-paycheck life into homeownership, wedding plans, and dreams of starting a family? This week’s Money Diary is a masterclass in leveling up your finances—and your life. Our diarist spills all about their journey from being a self-described hot mess, splurging on brunches and carrying a $25K car loan to ditching debt, buying a house, and building a future with their partner.
You’ll hear about the hard lessons (like how car loans can play havoc with your borrowing power), the triumphs (goodbye, car loan!), and the genius tools they used—hello, color-coded budget spreadsheet! Whether you’re saving for a big goal, figuring out family finances, or just love a good glow-up story, this episode is packed with inspiration, laughs, and tips you’ll want to steal.
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The advice shared on She's On The Money is general in nature and does not consider your individual circumstances. She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs. Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708, AFSL - 451289.
Hello, my name's Santasha 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 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 that lets you be pervy about other people's money habits for educational purposes of course. Welcome back to another one of our money diaries where I get the absolute pleasure of jumping in and chatting 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. Hi, She's on the Money. I used to be a bit of a hot mess student loans a car loan and barely making it from paycheck to paycheck. But I was single and never really had to think about a rainy day. Then I met my partner and everything changed. Suddenly. We were talking about the future, buying a house, planning a wedding, maybe even adopting a child. But those dreams come with a big price tag, and we had some bad money habits to break. That's when I started listening to She's on the Money. We're now engaged settling into our first home and adjusting to the reality of budgeting with a mortgage. Money diarist, I'm so excited about this. You're like, well on the way from being a financial hot mess to like having had a very good glow up. Are you excited to do a money dough.
I'm so pumped. I'm so excited.
I am more excited money doves. Before we get there, I need to know what grade would you give your money habits if I asked you to give them a grade from A through to F.
I'm going to go like B minus.
I think a B minus. All right, let's learn more about it, so let's jump straight into it. My favorite question of all time, money, Darris, can you tell me a little bit more about your money story.
Yeah. Absolutely. So grew up in Victoria, a standard family, three children, two parents, very much middle class, but financial literacy wasn't really anything that was taught. Like money was just like I think, you know, like, yeah, I didn't really have much financial literacy. Also, like culturally, men pay for everything, that kind of mindset. You must work hard, you know, you must provide for the family, that kind of thing.
Did you have that dynamic with your parents? Like was your mama's stay at home mum?
Yeah, like mom, like she had jobs here and there, but she was primarily a home maker, and then she had her own career for a very probably about five or six years, and then she started doing dad's accounts. So she now works for dad or you know, supports the family business.
Yeah, I love that. How exciting. So tell me a bit more like it. Financially, tricy wasn't really talked about, but it was kind of like an ingrained thing where it was just like a give and like the men provide and the women kind of do the homemaking stuff but can do some stuff on the side, but it's never the predominant.
Literally, So it was never like this is how your budget, This is how we saved money by. It was work paycheck spend, work paycheck spend. Like that's so yeah, there wasn't a lot of financial discussions. Like I couldn't have told you how much my parents earned when I was growing up. I don't know if my parents invested. I don't know who they banked with, Like like I couldn't. I couldn't tell you. My dad is a big cash is king guy. I don't think he actually knows his pin to his card. I've got it saved in my phone.
I love this. How does that even happen?
I just I don't know. I just I ask him, and it frustrates me, Like I think Mum takes care of like the digital money, and dad takes care of like the physical money.
Yep, fair fair And is that because he and obviously this is anonymous to like kind of money when is that because he gets paid sometimes in cash? Or is that because mum takes cash out for him? Or like how does he get hold of the fifties?
Colum a columbe Yeah, yeah.
Yeah, okay, okay, cash is definitely king. Yeah, I love it. And is that just like what type of work is he doing? Is he like trades?
Yeah, he's a trade Yeah yeah.
Yeah, yeah cool. I kind of love that, Like I know that that's like, you know, not ideal, but who am I to judge? Like cash is king. He probably always has like a role in his pocket or something. Is that the experience you had when you were growing up?
Yeah? It was like Dad was like just like the ATM, like when we're like in teenage years and like we didn't have money to go out, but would be like, you know, hey, Dad, like can you stop me a couple hun and he just like whipped out.
I'm like, oh, oh what, that's crazy. There's no way if I asked my parents to spot me even one hundred bucks, they would have been in the position to do that. So when you said, and I'm just trying to like pry because it's so pervy, when you said, like we didn't grow up with a lot of financial literacy, I'm kind of picking up that that wasn't because you didn't have money. You kind of grew up and everything was like paycheck to paycheck, but like there was cash. It wasn't as though, oh paycheck to paycheck, we have to eat noodles. And we have nothing. Sorry kids? Is that the vibe?
Yeah? No, we weren't impoverished, Like no, not at all, Like we middle class family, Like we were solid. We all got jobs at fourteen, like that was a big thing. Like my parents have ingrained a sensational, if not probably too much of a work ethic into all three of us. Our life wasn't about money. It was about hard work. And that's like the European thing, Like that's how my father was raised and that's how he's raised his children. You know, life's not about money, it's about working hard and doing the right thing.
I like that. I feel like that's really wholesome. So and it reminds me that like when I was fourteen years and nine months, my mom was literally like, you have to get a job. And then I was working my first job and I was a little cafe and it was all fine and well and dandy. And then my best friend lived into state and she came over for the school holidays to spend some time with me, and my mom was like, oh, you don't have a job. You should get a job while you're here in Victoria. And I was just like, mom, like, you can't do that. So yeah, that's probably where my work ethic came from, because like, not working wasn't an option.
Literally, like I'd liked to be that person that can sit there and like reading Crochet twenty four to seven, or like, you know, I love gardening, but I can't do it all day. I need to work. I need to be mentally stimulated.
Yeah, I fully understand that. So tell me what happens for the kid whose dad was able to spot him a couple of hundred bucks when he turns eighteen and then goes out into the world on his own, Like, what does that money story look like?
Awful?
Thanks dad?
No, it was like it was like a double one ny because I went to university not in my hometown, so I had to, like at nearly eighteen and a half when I finished year twelve, I had to move out of home, Like I had to go into student accommodation, and I couldn't work my regular job that I had been working. I also had to like pay for food and pay for laundry detergent.
What's that about? Why is laundry detergent so expensive? Still?
Literally, so that really like threw me. But I'm also like a massive extrovert. Well not so much now, but I used to be, and I used to love going out, and I used to love partying, and I love being social. So I'd always somehow make it work. I'd always somehow have money for drinks, taxi and cigarettes.
But then, like, I feel like you and I have very similar money stories, like like in terms of growing up great middle class, but then also like going off to university at eighteen and being like, what do you mean laundry deterreg is that much? What do you mean I have to buy dishwashing liquid? Like what the heck? Olive oil absolutely not? Are you rich?
You at thirty? Olive oil? Absolutely nott.
Like I'm grateful to be in a position where I can afford it now, but I still have those money habits in the back of my head, like when I go to literally I'm standing in Stupermarket looking at the olive oil and I'm like, what the heck, Like that's absolutely insane.
It's cooked. But I got clever, so I couldn't find secure work up there, Like it was very transient. It's student accommodation, so it's very competitive. So I was working at a bar back in Melbourne, so I would travel at night or on weekends and go work in the bar, but I'd also drop off my Washington mum and dad's place, and I would leave on the Sunday to come back to Uni with like a boot full of groceries fresh fruit in Uni. Who can afford that berries? Oh?
Absolutely not, absolutely not. We were living our best megurag life so like where my.
Parents couldn't really spot me a lot of cash, like to support my rent, but they would do my washing, they give me food like they would, you know, they.
Were great like that, very wholesome. Yeah, I love that, And I feel like that's your talking about that with such joy as well, Like I can see you smiling, thing like those were the good years, Like we had a lot of fun. But then you said a little bit later you ended up being a little bit of a hot mess talk to me about student loans and your car loan and then you know, not really being that savvy with money.
So like I make good money, like I do, like I but I was single. I either had like my own apartment or I was in a sharehouse. I never had intentions of buying a house. I didn't It wasn't for me. I was a single guy. I wanted to travel. I wanted to go see all the shows. I wanted to do all the fun things. And that created like a habit of spending, like no worries, I've got it, and like I'm also very generous, I guess, so like, now, girl, don't worry, I'll spot you like all that jazz, and I don't regret it. But yeah, I got to like twenty six, twenty seven, twenty eight, I was like in my late twenties and I was going to move to the UK in twelve months. I was going to go do that, live my best life over there. And then one night I met my now fiance.
Oh, tell me how did you meet?
We met online?
Yeah, I mean I met my husband on Tinder. Like I used to be shy about that, and now I'm like that was such.
A win badge of wanna. We're like at one percent.
One hundred percent and now I'm married to him. So tell me how that didn't work out?
Correct? No, we met online and then I went out one night for work drinks being that hot mess that I was drank too much, and then I called him and asked him to pick me up because I couldn't look.
Nice and he was like absolutely future husband.
Yes. And then from there like things changed, like that's saying like you know, you know when you meet the right person, so true. So within like three or four weeks, I was like, oh, this is like serious, this is legit.
Yeah, isn't it crazy? And like you were planning on moving to the UK? So did that just go out the window? Like what did you do? Had you booked anything, organized anything?
I had gone to three or four information sessions about working in the UK and the visas and getting sponsored and all that, and I had a little little nest egg to pay for my v up and then yeah, so I met my partner and then my lease was up in December, so six months later, so we had to have that conversation like am I resigning my lease?
Are we after six months? You definitely knew, didn't you?
I did, And like, so we're spending pretty much every night together anyway. So then we decided he was in a sharehouse. He had a little bit left on his lease, so we decided we'd go for a trial period while his lease was going to run out. So I jumped in with him and then everything changed, like it all. You know, we were a unit. We had duel income for the one household. We back then we were both working full time, so we had like a lot of income for one household. So we yet did all that, and then he decided to go back and study, and I really encouraged him to go get his degree. He'd always One of the first things he said to me was he wanted to get his degree. And I said, well, I make okay money, we can do it. Now's the time to do it, because if we can't do it in five years time.
If we have a mortgage, yeah, one hundred percent, Like everything's just a lot tighter when that mortgage had to be paid every single month. That was smart move from you. So was that like a loss of who you were? Or was that like a glow up? I mean moving to the UK obviously really cool. I feel like that's something I absolutely would have done had I not met my partner, because I feel like being a little bit extroverted, like wanting to see the world, Like I don't know, we all romanticize this idea that we can move to London basically and then travel on the weekends, right, Like you could totally do a long weekend in France, Like that's so easy, but now everything's changed. Was that an exciting change? Like, obviously we're obsessed with this person. We want to spend our life with them. We don't want to change that. But did you ever feel like, oh, I'm not going to be able to achieve that or do that, or was that just a I don't even care anymore? That was just filling time while I was waiting for my person to come along.
It was fifty to fifty. I think meeting my partner and this is going to get really sappy, But meeting my partner really healed a part of me, a teenage part of me. Growing up gay in a Catholic school is hard and dating is absolute not nice people for your twenties, Like it's your twenties, that's what you're meant to do.
But like, but dating as a woman trash dating is a gay man with all of my gay friends, Like I haven't done it, but like it looks even worse, Like it looks even trashier.
It's so awful.
It's like the dregs of the Internet come out, and I just I'm shook that you stuck with it. But I'm glad you found a good one.
Literally, so you know, it was that kind of thing, like, Okay, my life is changing, but it's changing for the better. Like I have got my perfect match. I've got someone that challenges me, loves me unconditionally. I've got someone to share the good things with. You know, I've got a family now, like I've got my family now.
You know what I mean, You're building it yourself, which is so exciting. Tell me a bit more because I'm picking up so you were saying before, like you know, my dad's European, he's got the Cashanese pocket, like he wanted to help us out wherever he could. You know, he works as a trade I'm picking up some traditional vibes and that's you know, a good and a bad thing. But then you said, growing up as a gay man in a Catholic school system was that something you always knew? Because I feel like sometimes growing up in that system, they're like, oh no, that's not a thing, and you have to spend a lot more time learning who you are, Like, tell me about that journey and living in a relatively traditional, especially European family.
Looking hindsight, always knew like please, at the time, though I had no idea. I really was like, you know, everyone else is talking about, you know, how hot so and so is so?
So am I oh yeah, yeah, yeah, like and you weren't wrong. She probably was hot, but I don't want to sleep with that.
Like I loved how her hair curled at the end, I didn't really love her breasts.
You know, you were like that highlighter is so sleigh.
Literally like her tan perfect.
She smells so good, babe, what is that? I would like to pick it up Britney spears back then, Oh, don't even Britney Smith fan to see. I'm known for.
It literally, So yeah, back then I kind of like early on didn't know, and then like after that suppressed it or was like, well I'm bisexual, that's what I wasn't out. That was just internal kind of things. And then yeah, early twenties, really early twenties, I kind of struggled with my mental health a little bit. That was the catalyst, like that was the thing, and yeah, just really liberating. And Mum and dad weren't great with it at the start. But I think meeting my partner and seeing how my life has changed for the better. We've been together for three years three and a half years now, I think that has really brought them along for the journey, like along for the ride.
Yeah, And I love that because it makes it real. I feel like, you know, having not gone through this, but like my best friend is gay, and like when she came out as gay, she told me, like she literally flew from Tasmania to tell me, and I was like, baby, the closet was glass, Like are you for real? Like are you for real? Like is this actually news? Okay? But having parents who grew up with that kind of European culture, I think they have all these misconceptions about what that might actually look like. And then then getting to meet your partner, they were like, oh, oh, this is what it's like. He's beautiful. I'd love for him to be part of my family. What are you talking about? And I think that that's just it's so nice that you finally got that, Like it just makes me so happy that that kind of has come full circle. And I mean, I'm glad that you didn't go through a lot of situations that other people do, but like the mental health stuff breaks my heart because it was just like that's who you were. You didn't need to feel bad about it.
Literally it was. It's wild how much society has changed in such a short amount of time. And you think, if you look at like the last fifty years, whoa, whoa. So like, I'm blessed. I'm so lucky that I grew up in like I was born in the nineties. I'm so lucky that I was born in the nineties, not born in the seventies.
Oh, one hundred percent. One hundred percent. And I mean, it doesn't mean that it was a perfect ride, but it was far easier than what it could have been. Absolutely, And I mean we've come in leaps and bounds, But I actually would love to get your take. Obviously, Trump has just been inaugurated as the President of America, and like, I feel like you and I are on the same page, so we probably have the same colorful I don't know beliefs about this happening. But when he was inaugurated, he obviously signed a bill in to say, you know, we're going to move back to having just two genders, and we're going to you know, suppress the rights of the LGBTQIA plus community. How do you think that that is going to ripple effect into our society because obviously America usually like kind of leads by example and like it filters on because like they're the big dogs, right and I mean technology happens, their first shopping happens, their first fashion happens, their first like and I'm not trying to distill it down to be as I guess candid as that, but like, if that's the way things go for those areas, do you think that those types of views are going to filter back into Australia.
It gives permission for people to say the rude.
Thing, which is gross.
Yeah, so it's okay because like I'm doing what the Americans can do, I'm doing what the president can do. You know, I'm allowed to use my voice. And yeah, so I think it's going to get rid of the tolerance that was there. You know, I'm full prepared for it to get rid of the tolerance, and bigotry will come through, I think, because you know, for such a long time, society said, no, it's not okay for you to be rude, it's not okay for you to spread hate, it's not okay you know, if you don't like anyone, if you can't say something. Ice Dant saying anything at all, And now we've got that, that's all. Like, now say what you want, do what you want. They're not human.
Yeah, it's breaking my heart at the moment thinking about it, because I had this conversation with a friend the other day. I was like, when did you realize that you were gay? Like when did this happen? Because historically they had dated men like consistently, And I was like, when did that switch happen? Because obviously I'm not privy to their life like in that way. She was like, do you know what it was? It was when gay marriage was legalized in Australia and I realized that was an option, and I went, hold on before that it was illegal, and I came from a very small town, and you know you kind of go, oh, maybe I'm playing around with this for a little while, and like it's not very serious because at the end of the day, I couldn't ever marry someone and have a family with them, so like, maybe I'll quite grow up one day. And then it became legal and she went, ah, I can do that. Actually, I'd much prefer that that would be a better outcome. And I just I remember that conversation Obviously that happened a little while ago, but I remember that conversation and going wow, not just the progress of giving you permission if you were already in that situation, like I adore the fact that you can marry your partner and like just do whatever the hell you want to do. But on the flip side, it gave people permission to go, oh, I actually really resonate with that, and now that it's an option, that's the option I'd like to pick. Like that breaks my heart to think that we're going back because people won't be able to resonate with who they truly are, truly, Like, I'm very angry about this at the moment. So let's go back to the money diary, because I want to know. You said before, I make good money. V what is that money? And what do you do for it? Like, what's your job, my friend.
I'm a primary school teacher.
Of course, you are the kindest of humans.
Sorry. I combined income so combined finances, so I often refer to it as like household. So our combined income is one hundred and forty five a year. I make ninety five of that and my partner makes about fifty of that.
Very cool. So tell me what does your partner do.
He is a kindergarten teacher.
Oh my gosh, you're both wholesome humans.
Stop her. So he's a sessional kindergarten teacher, so he can only work part time, and then he does casual stuff on the side.
I adore that. Tell me a bit more about like big money goals, because obviously you've gotten engaged and you're planning a wedding, all nice ring you guys don't get to see it, but I did. You've bought a house. Tell me about your big money goals because in your money diary you said, like we might even adopt a child. Like, obviously these things are expensive, so expensive.
So goal number one is to renovate our house, which is really exciting and it's like a great creative outlet, but it is hell expensive. Goal number two is to get married, whether that is the big beautiful or whether that is a small ceremony and we go traveling for three months afterwards. Either way, it's going to have a big price ticket against it.
Yeah, yep, the whole the shebang is very expensive.
And then yeah, we would love to be parents one day, but adoption overseas adoption or surrogacy is really really expensive, like six figures, So yeah, that's more of a pipe dream.
Oh my gosh, Yeah, yeah, totally. I can ask for permission for me to connect you with the I don't know if you ever listen to the money diary of the only other guy I've actually had on the show. He is now one of my friends and one of the most beautiful human beings. And side note update, they're currently expecting their baby, Oh my goodness, which is so exciting and like, I don't know if I'm going to like I can't share it because I know the gender and like they've been posting about it. But I can ask for mission to introduce the two of you so that you could talk about that journey, because I feel like that amazing. There are so many like obviously you can do your research online, but there's research online, and then there's the reality of the situation and talking to one one. So I will connect you with him, but I think you'll be so excited because they're so far down, like they're currently on their last family holiday before this baby arrives, and like every time they post on social media, I like lose my mind. That's amazing anyway wholesome humans. So obviously that's really expensive. What research have you done into what that could potentially cost you as a family.
So a friend of a friend of mine is doing sarrogacy in Argentina, and from the day that they decided let's have a baby to the day that they will eventually hold their child in Australia, it's going to cost them over one hundred and twenty k And jirl, you can't get a mortgage for a child.
Like, no, you can't, You truly can't. And I mean, I don't know if i'd want that, Like what do I do? Pay it off? Over time? One hundred and twenty thousand dollars? And like to be real pervy, like is that including things like them traveling to Argentina? And like I'm assuming that in I don't know enough about Argentina, but I'm assuming that they are able to pay their surrogate over there.
They are able to pay their sarrogate. But like each ivar found over there is costom them thirty grand So like, oh my god, first one failed, so their projected cost is a lot more now because the first one failed. You know, there's like lots of intricacies, and you know, and in Australia there's no sarrogacy laws. So so many of my beautiful girlfriends have said, of course I'll carry your child, but they always will have parental rights to that child.
What.
Yeah, there's no sarrogacy laws. There's no sorry c projection like in the US.
Right, So this this maybe me being really dumb, and I'm happy to appear dumb because I'm assuming that if I'm asking this question, other people listening are like, oh my god, I didn't realize that either. From my understanding, they would obviously sign up to be your sarygate, but don't the parental rights transfer once the baby is born, like through a similar process like adoption or how does that work in Australia, So you can.
Yeah, absolutely right, So like, hypothetically, you carry my child and then we go through the child is born, happy, healthy, and then I would legally adopt that child. But you don't have to give up that child. So you could give birth to you know, our son or daughter and.
Go I don't actually want to give you guys this baby.
Oh my god, how hard would that be?
I can't imagine it. I can't imagine it, like going through that whole journey, like and having you guys be emotionally invested, and you would obviously think the best of your friends that have agreed to this. But that is a risk that I'm not even sure that I would be willing to take. Like I don't think i'd sleep for the entire nine months, you know, and like.
What would happen, you know, like the conversations we've had, Like what happens friend, if we decided we want to move overseas Because obviously if my sister or my best friend or all that, if they're carrying my child, they're going to be involved with my child life. But how would you feel if in ten years we pack up and move to Brisbane or we pack up and move to Italy. It's not just as simple as saying yes, I'll carry your child.
Yeah wow? And do you think that Obviously there are different laws internationally that mean like if they're a surrogate and biologically that child, you're like, there's no question about that. Fantastic, But would that person still have the same I guess involvement in your child's life or does that become a little bit more transactional and in that way a little bit like we don't have to have this relationship and like get to cut the tires. It's not actually about being kind. It's more about like we would just like to be their parents without any strings attached.
I it's going to sound awful. You pay for a service, like you know it's a business deal.
Yeah, yep, because like at the end of the day, like I'm assuming the sperm and the egg that you guys would choose are not the surrogates, correct. Wow, And one hundred and twenty thousand dollars is something that you know really limits it, Like it becomes an experience where you're like, okay, cool, maybe we can say this, maybe we get our one hundred and twenty thousand dollars. But is that where you would stop because you're from a family of like do you go, we'd want siblings, we'd want this and that, because that becomes like a half a million dollar exercise at that point.
Literally, I think in an ideal world, I'd love to adopt. I think there are so many children out there that need love. I think there are so many children out there that are stuck in the foster system, and I think really that the reality is we will probably adopt or foster. The hard thing is actual adoption is very rare in Australia. You have a long term foster system. What I need does someone drop a beautiful baby on my doorstep? If you need to just drop it there, they'll be.
Fine, that'd be fine, that'd be great. And you know what, I want that so much for you, Like you have this warmth that I'm like, you're going to be the best parent. And then when you told me about your partner, I was like, I am assuming same warmth and it was confirmed when you were like, oh, yeah, they're a kindergarten teacher, I was like, of course they are. Like I can't think of two better people to become parents. And the fact that the obstacles are literally working against you or breaks my heart because I'm like, this baby would be so loved and so well looked after. And I mean Grandpa carries cash in his pocket, Like that's a good family to like come into.
You know. We are so lucky though, Like between us, we've got eight nieces and nephews, so we've got so many children around us. We're teachers, I work in sport as well casually, like we have kids, we have that the relationship. We just don't have our own, but we are so lucky, like our nieces and nephews range from nine to the last one's due in July, so like we've got a good spectrum. We've got kids everywhere.
Oh I love that, and I love your take on it. You just seem so grateful for the situation you're in, even though it's not one hundred percent what you're like, Oh, we love this outcome, but like we're just really happy where we are, And I think that's such a lesson in like if you're not happy with what you already have, more is not going to make it better. Like I just, oh, I adore it. Let's go to a really quick break because on the flip side, I want to talk more about man and learn a little bit more about you know, your debt like Carloan and what your mortgage is currently looking like and getting a little bit more pervy, so guys, don't go anywhere money Diarist. We are back, and this has been an eye opening and beautiful chat. Like I feel like you and I are on the same page and need to be best friends. Though, But before we you know, organize our coffee catchup. Talk to me about investing. Is that something that you and your partner do. Is it something that you're like one day, don't hide, he's pulling his he's pulling his shirt over his face.
Yeah. Look, so I think, as it's said in the Money story, with just got our mortgage. We've been living in our house for two months. We are adjusting to hanging a mortgage that.
Is elite and do you know what, we can't do everything like, we just can't.
No, So it's not the time. I have been starting to do research. I have thought about getting like the shares He's Apple, the Raise app and stuff like that, and I am developing my understanding of it. It's just right now, especially with renovations, it's.
Not your time. And that is so fine. My favorite thing about this whole conversation is that you're like, no, no, no, But I'm educating myself, like I'm doing a little bit of research. I'm working out where I should be going and what I should be doing in the future. And I think that there's just this I don't know, dumb amount of pressure to do everything, like you should be investing, you should be saving you should also buy a house or so don't worry, you do need to travel, and also can you afford a really big wedding, Like it's actually astronomical to think about what that would cost. To then also throw into the mix your life values, like I want a kid and to get there that's going to cost one hundred and twenty thousand dollars. Like all of those things mean that it makes sense you're not investing. In fact, if you were like yeah, like I'm aggressively investing and like just absolutely railroading every other goal that I have because like, you know what whatever, I'd be like, sir, what you do?
Please pause?
Yeah, sit down, sit down.
I mean, like we are lucky. Like my stuper is eleven best on top of my salary, so there is that, like there is super growing healthily. I will occasionally drop some extra money into my super.
Oh okay, so you are thinking about investing. Do you know how many people don't do that? I would say like ninety nine percent of people aren't dropping a little bit of extra into their super when they think about it.
Yeah, it's just like not regular, Like I wouldn't say.
Like okay, all right, well it's not regular. It doesn't count like be for real, like you're still prioritizing it.
Yeah, it's yeah, it's just like it's the start of the journey. I'm understanding it and things like that. It's just not the right time to start properly.
So tell me about debt, because that is something that you've recently come into more significantly, you said before used to have a car loan. Tell me about that. How did you get into a car loan at such a young age?
Well, so I was going to buy a house. I was making good money, I was single, I was renting and the thing was affordable, and I was driving a two thousand and five Yaris and I was like, nah, like stuff is like I work really hard. I really do.
Also, no shade to a Yarras, Like what a reliable little car.
Oh I miss it so much.
It would have been cheap to run through.
Yeah literally, Okay, anyone listening, do not get a brand new car. No point.
And also if you've got a Yarras, treasure hur.
Treasure hurt. My dad currently has the Arress, so he's run about car. It's still kicking. H Yeah. So when he has to travel, like you know, an hour to the job site. He doesn't want to take the big truck, He'll just take the arrass.
Yeah, because it's cheap and effective and a comfortable car to.
City and it can be parked anywhere. Yep.
Literally, it fits in a corner.
Literally. So then I bought my car. I paid about four grand of it, and then I got finance for about twenty five and then I also had student loans.
You have to tell us what did you get, Like yeah, yeah, but like what car did we upgrade to? Like what was going to make you look hot while you were single getting around?
I got like a white SUV, like a mom car, but like I'm a.
Mom's oh yeah yeah yeah, And I'm just feeling like I had like I don't know, white suv vibes, but then it had like bigger rims or something on it. I'm just feeling that I.
Did get the fancy aloys, but I got the pearl finish paint.
Yeah yeah, yeah, okay, yeah yeah yeah hote we.
Hit up that and then I met my partner. I bought it just out of COVID, So it took me forever to get my car.
Oh, and it would have cost you a bomb if you'd got it just out of COVID as well. But that's okay. We live and we learn.
That's the tea we live and we learn. So then, yeah, so I was paying off my car loan, which was back then it was about five six hundred a month, and then last gr we moved in with my in laws to be which were very privileged to have that opportunity to say, for a house. And then when we saw our first mortgage broker, he said, this is your borrowing amount, but the car loan is restricting you about seventy thousand dollars or eighty thousand dollars.
Isn't it wild how much it restricts? You don't think it is because you were like, okay, cool, Like the car didn't cost me seventy thousand dollars, like, and I don't have that much left on my loan, Like it didn't be that big of a deal. But how much was left on your car loan When he told you that it would restrict you by seventy grand.
I'm going to say eighteen very common.
I thought you'd say around twenty.
Yeah. And then okay, on top of that, we both have student loans, which is taking into account, which is just wild. So we had the three debts that were impacting our burrown capacity. So our broker said, like, obviously speak to other people about this, but I would clear one of the debts if you can, because it wouldn't affect you deposit too much.
Yeah, because we can tweak what bank you go with and how much deposit you have, Like we could probably organize, like, you know, a ten percent deposit instead of a twenty percent deposit that's much higher. Like there are so many like levers a mortgage broker can pull and change that. Once you start talking to them, you're like, I didn't even know that was possible. That's a money win.
Yeah, So we decided to take a chunking out of a deposit and pay off the car loan because that yielded the highest interest, and then the student loans are.
Just sitting they're doing their seme.
So yeah, we cleared that before we got the house. So now yeah, now we've just got the student loans and the mortgage.
Oh how good. So tell me about this mortgage. That's so exciting that the two of you have gotten into your first home. How much did you buy for and how much is your mortgage.
We bought for six hundred and fifteen and we got very very lucky because it needs a fair bitttle work. But I have a family of tradees around me, so we were able to buy fel a lot less than what they wanted and we lowboard them.
And one winner.
Yeah, and our mortgage is currently sitting at so we've had it for two months. It's currently sitting about five twenty five.
Oh okay, how good's that? So what type of deposit did you guys end up putting down and then working around? Because it sounds this is where.
Things got a little bit hectic last year.
I'm like, you've paid off a fair bit like that's that's looking sexy.
So we had there was a policy change with the bank we're going to go with. So initially my broker had this great idea to debt console they get some money aside for the renovations. YadA, YadA, YadA. So then, thank you, we were going to go with. They had a policy change that meant we were assessed against five percent of an increase of you know how I do like the interest increase. We were assessed against five percent. So that happened. We had paid our holding deposit. We hadn't paid our full deposit on the house, and our broker called us and said, it's not going to happen. You're in trouble.
So the bank changed happened, and you needed to like shuffle pretty quickly. Told me how stressful that was.
It was awful. I'm not a crier. I cried a lot. We didn't sleep. We're going to lose our house. And of course, like we bought our first home, we were so excited. We told everyone we you know.
Like one hundred percent and like, obviously we won't get too far into it to throw another broker into the bus. But like, from my perspective, as somebody who owns Zella Money, which is a mortgage broking business, like that would never have been acceptable, Like and it breaks my heart that you went through that situation. And like again, it's one of those situations where you don't know what you don't know. And I'm assuming at that time you would have trusted that person giving you that advice. If they said, oh, I'm so sorry that the bank changed their policy, you would have been like, oh, well, I guess that's what it is. Whereas a really good broker would be going into that and saying, no, we applied, we did this, You're actually going to financially impact our client. You have to honor your previous policy, and like, my heart breaks, I'm so sorry you went through that.
It all worked out in the wash.
I know it's not ideal, not ideal, but it worked out.
We had to beg borrow steal and we had a family member come in and provide us with a side loan, not a gift of money. And again, so privileged that we have that at our disposal.
But that's another financial stress. And I'm assuming you guys went into this, we're going to buy our own home, We're going to stand on our own two feet. And then it kind of like gets swept up from underneath you because you're like, oh, now I have to go and talk to this family member. And yeah, you're right, we're so grateful that we have this opportunity. But that's not how this should have felt. That's not how this should have gone because I'm assuming if i'd tut you and your partner down and said, hey, we can get you into a property, all you'd have to do is borrow this amount of money from a family member. You'd be like, oh, no, thank you, like we'll actually just save for a little bit longer, like we want to do it on our own, Like that's not what should have happened.
So yeah, without deposit and then that extra cash injection for family member, we you know, as I said, we've got like five twenty five issue.
You got there? Oh good, Well, I'm glad that it's not super stressful, and like I will be swooping in and hopefully getting you a REFI that gets you the renovations of your dreams. But tell me a little bit more. I feel like you've had this whole like glow up, Like you've gone from being what you said, I wouldn't call you this, but you called yourself a hot mess, and now I feel like you're just hot shit. Like those two things are very different, and like, you know, I'm only meeting you today, so I've never met you before, but you have this like glowy energy of confidence and like you're just so happy with where you're at with life. But then you know, you've shared a lot the podcast today about like oh I wasn't always that way, Like you know, I grew up feeling a little bit lost a little bit, you know, flat and had some mental health issues. Like I feel like you've come through that and now you're out the other side and like you're living your best life, but you would have learnt a lot. So tell me what you think your best money habit is.
I can't split between the two. Girl, I'm thrifty.
Oh, tell how are we thrifty?
Though discount codes, clearance bins, sales. I will call the business and say I can get it five percent cheaper. Do you want my business on? I will ask for the discount.
But if you don't ask, you don't get correct, Like.
You know, how's your food going? Oh? Actually we did all of these. I will speak for my money and I will make my money work.
I love that, and I think that sometimes when we say, oh, we're really thrifty, and you know, we will do clearance bins and up shops and like, you know, make all this work, people then think that you don't spend money in the rest of your life. Tell me a bit about the balance that you have, like are you still spending on the things that you love or like, absolutely.
We don't go without ever, but if I can save money on there, and it's in my budget, which that's the other money have it it is, I've got to kill a budget spreadsheet. So if it fits in a budget and I can save money on it, I'll save money on it.
Absolutely. I love that. Tell me about this budget spreadsheet, though, like, how does that work?
Like?
How did you pull it together? Is your partner privy to this?
Okay, so you can't judge me. We listen that, we don't judge.
Why would I judge you? We listen and we don't judge your correct.
When I first started listening to sheets on the money, you were talking about your budget spreadsheet and I was like, I'm not going to pay for that. I'm pretty good on EXL I can make that.
Yeah, you're going to do it yourself. I love that. So you made your own fantastic.
My partner likes the colors, but he's not a finance guy.
So I love this. Did you make it pink as well? Like is it peachy vibes? Or you just made your own?
Full made my own and like, so my income is like a lilac purple color. His income is a soft pink. Our mortgage repayment bar that's like red, like a red color was like that, like, so, yeah, it's fine.
I adore this so much, and like I'm not even mad that you just made your own Like I actually want that, because like my entire goal is to just get people caring more about their money. And if somehow you were like, do you know what I'm gonna do, I'm going to save money by not giving it to Victoria, I'm going to make my own girlfriend. That was the point. Like I got you saving, I got you budgeting, Like haha, I still win.
I still win. But like so I've given it to like my brother in law, my sisters, my sister in law like and taught them how to use it and like taught them how to make it feed properly. And I am.
Obsessed with you. Do you know what I'm going to do. I'm actually going to gift you my money master class in addition to the budget spreadsheet, which, by the way, I think is pretty good, but it sounds like you maybe have done a better job than me, so maybe don't look at it too deeply. There's like a heap of videos and content and a mortgage repayment calculator though you think you might like in there, so like you can have your cake and eat it too. Baby you got both married.
I love that, Thank you so mu much.
No, don't be silly. I love that you've been giving your budget spreadsheet to all your friends and family and you're like, use this. Do this. Like if I go back maybe five years and said to baby you or like younger you, hey, you'd be sitting your friends and family down and doing their budget. So I'm like, you'd be like color coordinating it, like would you believe you?
Not even close?
I love it so much, it makes me so happy.
So like every year, no matter what yr level you teach, you will teach a money unit. And since listening to Shoes on the money, I don't set homework side, but I don't set homework.
You're the teacher of my dreams.
Yeah, but I've set homework for my kids. When we start our money unit, to go home and ask mum and dad how much do you earn? And how much is our mortgage or rent?
Oh?
Wow, how does that go down?
Interesting? Really interesting? So I normally teach senior school, so grade five six, it's faster and some fabulous conversations and fabulous learnings, but it's also like kids come back and they say, oh, Mum, talk me. We don't talk about that. Dad said, don't worry about it. And I was like, I need you to ask again, And I've called parents and I've said it is part of the curriculum. I need them to know how to save. I need them to know what a mortgage is, and the best way to know is with their own situation.
Yeah. Wow, isn't that crazy that it's just still so diverse in terms of like, oh, we don't talk about that. I've been pulling together because, like, I'm quite passionate about the education system, and in the background, I do a lot of work going out to schools and talking at schools, mainly senior schools, So like usually I speak to like grade nine because I feel like at that age they're getting their first job. I really want them to know about their superannuation and their cash flow and that you know, you don't just get all this money into your account and you can blow it all. I mean you can, but I want you to know the difference between saving for now and like long term gratification and all of that. But one of the things I've been wreing on is this idea for like junior school of like basically an activity where you print out heaps and heaps of groceries with their price lists, and they do a budgeting activity of putting together meal plans for the whole week within a certain budget. And I just think that would be so fun.
I'll send you my lesson plan. I've got it.
Please do Oh no, We're going to go out for a bunch and we'll talk about your lesson plan. Don't send it to me. I love it, I love it. Let's bring the mood down, though, because we're too happy about this. What's your worst money habit?
We're spenders, we spend.
You're good, I mean, but your budgeters as well, So.
Like we will ignore the budget at times.
So we're saying that we have the budget. It's actually just a spreadsheet that tracks our spending.
No, no, no, Like I know how much we have to spend on groceries each week. I know how much we have to spend all cars. Increed, but like you know I need some more after shave. We're going to spend less on groceries this week and buy the after shave.
That's budgeting. I mean, who airem I to judge?
Like a right, we listen, we don't judge if.
You're happy with it. And is that something that when I say, oh, what's your worst money habit? You're like, that's a money habit. I want a change. Or you're like, oh, like no, we pull from column A to give to Columba and we're pretty happy with it. We just go with the flow. Or you're like, oh no, like that's an active thing that we're trying to change, or like how does it make you feel?
It's something we're trying to change because, as I said earlier, we're adjusting to the mortgage and living at home and paying rates, you know, like, so we're adjusting to a new budget, so the cash flow is a lot tighter. We need to change that because we need to free up the other end somehow. So yeah, it's been two months.
Oh like it's so early. I would say that you need Like there's this money shift that happens right when you're saving for your first home. I feel like you're super aggressive and you're so happy to go without right because you're like, Okay, cool, I don't need the after chase because I'm so excited about this acquisition of a house. I'm going to put that extra hundred bucks into my savings account and I'm actually going to feel really good about it. But then there's the spent period, which I think takes a minimum of six months. Once you get the mortgage to go. We've achieved the goal, but I'm still having to sacrifice. And I actually thought this would feel a little bit different, Like I thought that we would have a bit more free cash flow.
More reprieve.
Yeah, and you just don't have that period of reprieve where it's new expectation setting. So my friend, you're two months in, You've got another four months to go before this actually feels quite comfortable.
And like literally like we bought just before Christmas, so like Christmas is an expensive time.
Oh you got absolutely thrown under the bus.
And then like you know, all family and friends in our community wants to come to our house, so we host and we buy food, we buy drinks. So it's like it's just been expensive.
She's been a Spano a few months.
Yes, Like it's great that you want to come and see our house.
But like could you bring the snacks?
Yeah, you bring the wine, you bring the food, We'll bring the vibes.
Oh my gosh. Yeah, like the vibes of the house, like that's it, And I feel like I'm providing enough money durst. I feel like I have adored this money diary, like it's gone for a little longer than usual, which is obviously a great sign. I don't know. You've shared so much about you, your life, your personal life, your relationship, how you've gotten into property, How that wasn't you know, the smoothest experience. How you've gone from being like quote you a hot mess to literally sitting in your family and friends down being like babes. So this is me and I'm lilac, and you can do this. And also the bad numbers are in red, like you've made a whole bloody color coded spreadsheet and you're spreading the good financial vibes. And you think you're a B minus, which who am I to judge? Like, I don't mind what you think you are, But what does it take you to get to an A plus? Like how are we getting there? What does that even look like?
It gets? What a plus? We are no student loans, we are investing regularly, not a lot. We are investing regularly, and we are not being as impulsive on the purchases. So a little bit a few steps.
I love this, but you're on the way, Like you showed me early that you're very aware of you're purchasing and like impulsiveness versus like what you want and how it works. Like it's not as though you're not privy to these things. I'm not sitting down as an advisor and going, hey, did you realize you're a bit impulsive? And you're like no, I'm not, like self aware queen, And you're on the way, so like be minus sure, you can stay there if you want. But I feel like you're on the way to being an a and that's really exciting. Oh my gosh, Moneyed, I say wish I had like a whole other hour to sit down and yap with you, but I do not. It has been an absolute pleasure learning about you and having you as the second inaugural mail on my podcast. And this is definitely a shout out. We want everyone on the podcast, but it turns out we can only have the people that submit their money diaries and are happy to come on the show on the podcast. So if you feel like you've resonated with this and want more stories just like this, money diarists, please write in please DM me, please let's have a chat, because I feel like I've just made another best friend and that's my favorite thing in the entire world. Moneyed dirist as always it has. It's been a pleasure. Thank you so much for sharing you and your journey and what you're getting up to with our community, because I just know people are going to adore you as much as I have, but also they're going to learn so much, and I just I love our little community that we've built less.
Thank you so much for having me. It's been so fun.
Oh, I adore this.
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