She's On The Money - Hustle, Hard Work, and Healthy Financial Growth

Episode Date: August 18, 2024

Growing up in a single-parent household, this Money Diarist learned the value of hard work and resourcefulness early on. From selling loom bands as a kid to launching a beauty salon with her mum at 17, she's always had a hustler’s spirit. Her story is one of grit, determination, and proof that you can achieve anything if you put your mind to it. Don’t miss this inspiring episode that will motivate you to chase your own dreams. Acknowledgement of Country By Natarsha Bamblett aka Queen Acknowledgements. 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.See omnystudio.com/listener for privacy information.

Hello, my name is Natasha Nabanunga-Bamblett. I'm a proud Yorta Yorta, Kernai, Wolperi and Awadjeri 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 Awadjeri 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 for millennials who want financial freedom welcome back to another one of our money diaries where i get the absolute pleasure of sitting down with one of our She's on the Money community members and talking all about their money story. Let's jump straight into it because this week I got an email and it sounded exactly like this. Dear She's on the Money team, growing up in a single parent household, I learned the value of hard work and resourcefulness early on. My mum and I were always finding ways to stretch our money and that scrappy mindset has stayed with me throughout my life. From selling loom bands at the corner store to fund my treats as a kid, to starting a beauty salon with my mum

at 17 while I was still in high school, I've always had a hustler's spirit and that entrepreneurial drive has guided me through various business ventures and into my current career. Now I'm balancing a demanding full-time job while studying for a Bachelor of Business. I've recently bought my first home and I'm just about to turn 21. Money Daris, what the hell? Hello. It sounds pretty cool to listen back to that, I must say. Are you for real? I thought you were about to be like, and I'm just about to turn 65. Like, be for real, you've achieved so much. And also, blast from the past, loom bracelets. Right. I know. I know.

Oh my God. I reckon I've got one somewhere like hidden in the back of a jewellery box that I couldn't let go of. How much did you sell those for? Like what's a loom band go for? Surely 50 cents. I can't remember. Like not nearly enough to justify the amount of energy that goes into those. No way. That was definitely passion project for sure. Oh my gosh. All right. Well, let's dive into a money diary. As always, my first cab off the rank as money, Daris, if I asked you to give yourself a money grade from A through to F, what would that money grade be? I've had a while to think about this. I've been a long time listener

and I'm going to have to go with a solid B. A solid B. All right. Let's learn more about that. My favorite question. Money, Daris, can you tell me a little bit more about your money story? Yes. So I would say that my attitude towards money has always been quite conscious. I've always been quite conscious and calculated with money. And for the most part, I probably had a positive relationship with money. But I guess on the contrary to that is that I grew up with probably what I needed, but not an abundance of money. So it was always borrowed from Peter to give to Paul. And that's probably transformed into my life now from a scarcity mindset point of view. I think I'm very, I wouldn't say obsessive, but very conscious of money is

probably the best word. So I'm always worried if it's going to come, if it's going to go and having enough money to pay my bills is always a thought on my mind. And I guess you could say it's a negative mindset. And you still think you have a negative mindset? no it's quite positive but I think maybe a negative scenario has influenced where my mindset is now yeah and I feel like that makes a lot of sense that's part of our money story right like and for us to understand where we are today we need to understand where we've come from and maybe why we have certain feelings and thoughts and behaviors around money because right now you're clearly doing well like I'm really excited to learn more but you've just bought your own

house and like that's so exciting but you're also like oh I still have this like scrappy mindset and like I'm often really worried about money even though maybe that's not if we looked at it on paper yeah yeah that's not the reality but it's also something that still stresses you out because inherently you know that has happened historically right yeah so I want to know more right now you have a full-time job and you're studying but what do you do for work and how much money do you earn I am a human resource manager and at the moment I earn $115,000 plus super and I also have a company vehicle and fuel card as well. And then two side hustles you could say. So can we just, 21, 21, are you sure you're not lying about your age? I mean, I can see you,

you definitely look 21, but you're earning $115,000 plus super plus car plus two businesses. Yes. The math isn't mathing. You must be the oldest soul in the entire universe. Honestly, I feel like that. And my age is actually something that I'd say I'm quite conscious of, particularly with the negative connotations that come around being a young person in a position of, with a position of responsibility, but also a level of authority as well. I think it's something I try and hide. And it's something when I talk about my age and how much I earn, I don't really. But when I do, it's definitely one of those things where I go, are people going to think that I'm lying? And I have to kind of give myself a fact check where

I'm like, no, you've done that. Yeah. A hundred percent you have. I just am so impressed. I think that mine's not coming from a question of authority more like wow girl get it like that's so sick share with us how do we do this yes yes no I understand yeah I do really resonate with that though because as somebody who started my business at 23 that is exactly how I felt like I always felt like the youngest in the room and maybe not worthy of being there or you know not smart enough or not experienced enough or you know not something enough as always yes and that does make you question whether you're sitting in the right room doing the right things and you are where you're meant to be yes 100 sometimes you question yourself and that just reminded me that

I definitely went through that and I think it's only since I've joined my 30s that I'm really like no no I'm exactly where I need to be and often people are still surprised when I say oh no I've been in this industry for 10 plus years they're like wait what yeah or I've been a business owner for this long and they're like hold on like how and I think that that's good for me but it's taken a long time for that to settle in yeah to get to that and to have the boundaries and the ownership of it yeah yeah so tell me about these two business side hustles what are they what what type of cashola do they make you so the longest standing one would be so I do beauty so eyelash extensions and brows on the side that's one of the businesses that I had studied

for and started when I was in high school and I've kind of you never stop doing it right you say oh I'll give it up I'll stop doing it I'll get a full-time job and I'll stop doing it but you never truly do and I still continue to do that but in a reduced capacity so I do one Saturday every month one every three weeks and that's eyelash extensions and eyebrows as I said and that probably brings in last financial year was about $10,000. Wow for one day a month of work be for real that's very nice. Some month probably works out to be two Saturdays of the month if I'm doing three weekly but one Saturday month sounds better when I'm managing my life. I feel like I'm someone who gets their lashes and brows done religiously every three weeks that would work for

me. So do you just have a consistent role of like clients who just come every three weeks for their lash refill or their extensions and go from there? Yeah, literally. And when I decided to do that, I kind of put a, you know, who wants morning, who wants afternoon. And I had to reduce obviously my scope and how many people. So I picked my top five, if I can say that. And yeah, they're just all on a rotating basis now. So they just pre-booked and they know like they can plan their lives. They're like, right, every three weeks is my lashes. I'm not going away. Yeah, but if you don't make it, we're not doing a makeup one. Sorry about that. Yes, yes. Literally, I'm like, sorry, you've got to wait six weeks then.

Yeah. Oh my gosh. All right. So that brings in another 10 grand a year. What's your second side hustle? The second one is only quite recent, but I started doing disability support work on a Saturday for one of my mom's clients. so yeah that's kind of infrequent and when when she needs the support but that has only been in this financial year so I'm not really positive on what it would bring in in a year capacity but it's it's just a little bit extra so what type of extra is that like if we said that you do like maybe one Saturday a month how much do you expect to get paid for that Saturday I don't have good kind of numbers to work off. One Saturday, I earned $950 because it's Saturday, right?

Oh, okay. For $950, I'm there. I'm there. That was for eight and a half hours though. That's just, that's a normal day's work. Yes. Pretty good, hey? Oh my God. I'm not mad about that. So that could potentially, let's say that you do like that once a month, that's about the same as your lash and brow business. yeah it is it is I don't think I'll be doing like that many hours again but even four hundred dollars a month maybe it all goes towards a little extra purpose yeah I feel like that's really nourishing work as well it is like being able to help like I just I feel like I'd get a lot out of that so I'm glad that you get to do that so you've just bought your first house you're

doing all of this work like I'm very impressed thus far tell me what are your current big money goals you bought the house so what's next what are we working towards you already sound like you know me I can't stop what's next that's me though like cut paste I mean I definitely didn't do it this successfully this young but I'm like she is me I am her it's actually funny because my friends always say that I remind them of you or vice versa I already know that we'd get along really well. If you were in the same state as me, even though there's literally more than 10 years difference between the two of us, I feel like we'd get along very well. We would definitely. But my upcoming big money goals is obviously to one, continue paying down the mortgage when I can

see how much of our monthly repayment is going towards interest. It's very sad. So continue that down as much as we can but also I really want to start consciously making an effort into investing so one thing that you've always said that has stuck with me is that the second best thing to timing the market is time in the market and I think do you want to work for me like you would be a great advocate like cut paste perfect you're really well spoken I think you'd be great on a podcast. If you ever want to be on the show, let me know. Oh, don't. It's so funny. You should actually hear me in my day-to-day life. I'm like, have you listened to She's On The Run? Have you heard of them? Listen to them. You can learn. Oh, I love this. But a conscious effort to invest.

Oh my God, you're 21. Like, oh, you could invest and have so much time ahead of you. Like you are where every single one of our listeners wants to be. Yes. And I think that's on the plus side for me is that I have the time. But for me, up until buying the house, my biggest priority was always to have as much money in my bank account so that I could buy the property. So now that I've got it, I want to start, yes, just having a reoccurring deduction, even if it's $200 a month. You start small and just see that money go out and be working towards something. And last money goal immediately working towards is I'm actually going to Europe in October. oh my gosh exciting whereabouts in Europe are you going it's actually a work trip so they do

pay for me to go but okay yes we have international HR days because it's a global business that I work for okay yeah I'll head to Belgium okay nice for some yeah and then I will take two weeks of annual leave while I'm over there. So I'm planning to do London, Paris, Amsterdam, and then on the way back, spend a night in Dubai so that I can see as much as possible within the two weeks. Oh my gosh. I've got so many recommendations for you. Oh my God. Do you please let me know? I have just gotten back from London and Paris. I will send all of my favorite ones and all my money tips and tricks. I feel like you'll love it. I feel like your business is shooting themselves

in the foot though, because by having an international HR day, who in your team is not taking two weeks off at exactly the same time? Like they're going to lose half their workforce by taking them overseas. Cause I'm not going overseas and they're not making the most of it. Like everybody is out. Only the, I guess, regional people or department, uh, responsible people will go though. Yeah. So all of the big dogs are out of the office at the same time. I like that. I mean, that's their problem, not ours, babe. That is a them problem. They can deal with that. Yes. All right. Let's go to a really quick break before I get further off track. And on the flip side, I want to ask you more pervy questions. I'm going to ask you how much you spent on your

house. I'm going to be asking about your investment plans. I want to know about your total debt and best and worst money habits. So guys, don't go anywhere. money diarist we are back and i am very excited about this episode i feel like you are so young and have achieved so much it's arguably very unrelatable but i think we can learn a lot from you so diving straight back in you mentioned before that you want to consciously start investing because you know that time is on your side and the second best thing to timing the is time in the market. So what progress have you made towards that goal? What are your thoughts around this? How are you going to invest? What does that look like? So I currently have $1,000

invested in ETFs. So I just have two. I used to work for a tech company and it kind of made me realize how much development in that space is still yet to come. So I invest split between the ASX top 200, and also between, I think it's the top 100 tech companies as well. That is where I'm currently sitting in with that $1,000. And I think, to be honest, I will continue to invest into those two, more so prioritizing the top 200 ASX, because historically over 100 years, it's still positively going on the upward trajectory. it is you're going to be a financial advisor next I just know it it's actually so funny you say that because I almost added financial planning to my degree as a second major but they weren't

compatible with HR management but I am definitely interested in that space I mean I did psychology and ended up here it's a slippery slope once you see you start caring about money true true you go completely off track and you end up a financial advisor worse you could become a mortgage broker Oh my God. But it is so fun. I want to know more about this investing journey though, because over the weekend I was actually talking to someone on Instagram and they were messaging me going, Hey V, oh my gosh, I'm really struggling. Like I'm picking a platform this weekend. I'm going to be investing. Obviously I can't give advice. So I was just having a chat and being like, okay, well, have you thought about, you know, maybe doing some more Googling? And I wish

I could dive in and be like, this is my recommendation. This is how this works. But even if I had that it might not fit so not ethical but I want to know you've obviously put your thinking hat on you've invested in two ETFs which means you've got even more diversification than just one ETF you've picked a top 200 one and like a tech one what about platforms like when you were going I want to invest what did that look like I am still currently but I was with Commonwealth Bank. And so, at the time, I just decided to go with CommSec. I know that the trading fees were a little bit higher, but I decided to go with CommSec. So, that is the platform that I'm currently in. I also use, I don't know if I mentioned, but I have $500 in crypto. So,

I use Bitcoin. Oh, no, you didn't. How cool. Yep. Controversial. But yeah, I have $500 invested into CoinSpot as well. And I guess for me, it was probably more convenience. I had heard of, you know, Sharesies and Vanguard and that type of stuff. But for me, I was already with ComBank and they just literally deducted it out of one of the bank accounts that I had set up already. So it was easy for me. It makes sense. And it's actually just about what you're most comfortable with. Like at the end of the day, obviously there are a million different platforms that you could choose from. And it's like, I don't care what platform you're on. As long as you like it, it makes sense to you. It's got user like features that make

sense to you and you're actually investing, I could not care less. So it's more, I want to know, what are you using? Because I think a lot of us listen to these episodes and we're like, oh, she said she invests, but like where, when, why, how, like how did she get there? Because so many of us get that like analysis paralysis at the start of, well, do I do it? Well, I just looked at ComSec. I listened to that money diarist. She said, she was like, oh, maybe that's not for me. And then you're weighing up all your options. Did you get analysis paralysis at the start of your investing journey? Like how long did it take before you said, I think I'll invest to actually pulling the trigger? Definitely. And I still feel as though I'm somewhat actually in

that analysis paralysis. And that's why I haven't dedicated a portion of my monthly savings towards investing. Yeah. In the beginning, I definitely did, but I was just started with what I was comfortable with losing because at the end of the day, it is still a risk. So at the time, $500 whilst it would be sad to see it go. It would not be the end of the world for you. Yeah, exactly. It wouldn't be the end of the world. And one less password to remember, to be honest. I can't remember another password. Oh, don't start me on passwords. I've just downloaded LastPass to keep track of all my passwords because at this point I just can't be trusted. No, I can't remember. So tell me more. We're going to jump into debt now. You've

mentioned that you bought your first home. First, can you tell me a bit more about that journey? how does someone at 21 buy their first home? Because I don't know if you know, but right now we're in the middle of a cost of living crisis and like everything's really expensive and interest rates are through the roof. How did you get together a deposit? What did that look like? And how did you purchase your first home? It's such a hard question when people ask me that. It really takes so much thought, but I guess from the age of 14, I've had a job and I have probably always had that mindset of giving myself $50 a week to spend and anything left over is savings and truly even from when I was earning $100 a week I'd still give myself $50 for fun for whatever I

was doing at 14 and the other $50 would always be saved so I have who taught you that who taught you that like how did you have that self-discipline I don't know and I don't know where it's come from but I think tying back to when we first started having that scarcity mindset I always wanted to have something left over and the reason that I got my first job I still it's a pivotal memory for me is that I wanted to be able to put money on my go-kart so that my mum didn't have to worry about it so I love that that's probably a core memory that stuck with me but in terms of how I got that mindset I would say probably come from the scarcity mindset around it wanting to have backup in case I needed to give it to my mom or in case I had a bill that was unexpected

I don't know what bills I'm having at 14 but that's you might but that's stressful and you probably saw your mom have unexpected bills and you were like well I don't want to be in that position like and I know that the answer to that is actually having cash available so I'm going to do that yes 100 100 so then yeah I just continued to save and that transformed into the more that I earned, the more that I saved. And probably a good habit that I do have is the less outgoing, the better. So even every year now, I still review how much I'm paying for insurance or my phone bill. And the most that I can reduce that by is better. No matter how much I earn, I want minimal expenses because then the money left over, I can do whatever I want with.

I love that. So tell me more about this property. What did you save for a deposit? What did you purchase for and what's your current debt? I actually used one of the first home buyer schemes. I know you'll be happy about that. Oh, so smart. Oh, I love that. I love that. I was talking about it yesterday at work. Like there's a few schemes at the moment that we've got a couple of clients like doubling up on and I'm like, this is great. Like it's like, it just feels like the biggest hack in the world, right? Yes. Yes. Especially the free stamp duty for first home buyers now in Queensland under $750,000. That we just missed out on. So, I think in total, yes, we used the 5% deposit government guarantor scheme because for us, location mattered and I knew that

we'd need to purchase a home that required work. So, I wanted to keep some of our savings in reserve so that we can do up the house and my partner is a carpenter. So, he can also do the renos so how good yeah I think in total with the stamp duty I think it was about 50 just over $50,000 that were required for our deposit there and we ended up purchasing initially we offered $685 but then we were able to do a little bit of negotiations I put my big girl pants on and knocked it down to $660 after building in Pest so that's the final price that we paid So you purchased for $660,000. What's your mortgage currently sitting at and how long have you had it for? It is currently sitting at just over $600,000 and we've had it since April.

Oh, very nice. And how does that feel when interest rates are arguably a lot higher than they used to be? I mean, thankfully you probably purchased when the interest rates were much higher than, you know, one or 2%. So it wasn't as rude of a shock, but how now you're paying a mortgage, are you managing? Pretty good. I mean, with an offset that we now have attached to our mortgage. For me, I thought if I'm buying at the top of the peak or if I'm buying where interest rates are quite high, then if they ever come down, then it will just be positive money that we can be adding towards paying down the mortgage. So, it is scary seeing how much money goes out every week and you think oh my god is it really a thousand dollars a week in repayments but I know that yes something

has to change well I believe that something has to change and hopefully it won't be like that for the whole next 30 years of our of our loan life but yeah we managed it's crazy right all right well I'm honestly so shook this far like I just feel like you have made the most of it like first question before I get to my structured question what's your mum think of this like is she just like super proud because coming from a single parent household and knowing the money story of most single parents, like it's bloody hard. Like you're cutting your teeth, you're working extra hours, you're doing the most to put your kid in the best possible position. And like so many times you see single moms doubting themselves and feeling like they're not doing

the right thing because their kid didn't have, you know, the shiniest thing at school and all the other kids had that. And you just, I can see that moms crucify themselves over this, but you've kind of like come through this. How's your mum feel now about all of this? Because like if I was your mum, holy moly, I'd be so proud. Thank you. It's actually funny. I had told my mum that I'm coming on to this podcast and I'm like, oh, but you know, they might not believe me. Like it sounds pretty wild when I say all this stuff back. And she's like, no, you did this. You own it. You literally are the one who worked for it. No one handed you anything. So she's super proud and she always says that I've raised a savage and you know that yeah queen yes yeah so

no she is super proud and I do owe you know a lot of it to her in in fostering I guess my mindset from the beginning she would obviously sit out the front whilst I sold the loom bands and whatever crazy idea that I had I think I even sold earrings like I made earrings from eBay I used to glue the backs onto the little rows and sell them at her salon oh my gosh I love that she really fostered that that mindset and I think that's a lot of how I've transformed to continue to have that mindset now she could have very easily probably squashed that mindset and said no don't be ridiculous and I would have you know been a lot more confined so yeah I have a lot of empathy and I owe a lot of it to her yeah oh I love that I hope she listens to this and hears that me too I'll send

Hi, mom. I'm also, while you're here, mom, can you send me all your parenting tips? Because I too would like to raise a savage. Like that's, that's where my mindset is at right now. I'll take all the tips, all the tricks. Thank you. And bye. I have to ask your daughter some more questions now. Money diarist. Back to you. What's your best money habit? I would say probably that I'm naturally drawn to the cheapest price or, which is not always good, But I'm naturally drawn to the sale sticker or the items that are on sale. I mean, every Monday, 6 p.m., Woolies releases the catalogue for the specials for the following week. And I shop.

Oh my gosh, you even know the time. I'm obsessed with you. It's my... Do you know what? I read them, wouldn't be able to tell you when they come out. So you're telling me 6 p.m. on a Friday, is that right? On a Monday. Sorry, 6 p.m. on a Monday.

All right, I'm going to put it in my diary. Yep. And then the specials begin from the Wednesday. So you've got a bit of time to pre-clean. Okay. You've got time to make your budget. Yep. Yep. And shop online. Use the Woolies app because you can see how much you're spending. Whereas when you go into the shop, you just chuck stuff into your cart and then you're like, oh, 200 bucks later. So. Oh my gosh. So do you then see all the specials on a Monday and go, all right, well, I can see that beef's on sale. Like I'm going to make beef dishes this week. Is that what happens? Yeah. And then if got like a repertoire of recipe like how does this work and how are you 21 again like what what I do

is we cook dinners at home Sunday through Thursday and I plan all of the meals based on what's on sale so I like a certain butter but a chicken sauce so if it's half price we're having part of chicken for the week and yeah great buy your chicken breast from the deli not in the package section because it's $10, $11 a kilo, not $17 a kilo. What? Is that the price difference? Yeah. Be for real. Yeah, yeah. It's like $11 for chicken breast at the deli. I kind of wash it because it looks a little bit slimy. That's so controversial, actually. I feel like I was having this conversation with a friend the other day and I always wash my meat. I'd rinse my chicken. I don't rinse steak funnily enough but I rinse my chicken and all my seafood I do that I do the

same thing she was like why do you do that like you're cooking it anyway and I'm like no no that slimy stuff gotta go it makes me feel better yeah 100% so yeah probably just that I have always been money conscious even when I go out for dinner I don't get a drink not because I'm depriving myself of being thirsty but because I don't need the coke I don't need the whatever I'll just have the table water. It's all good. So yeah. She's savvy. Savvy. That's a good word. Oh my gosh, you're savvy. I love it. It's really specific too. Like it's not, it's like, all right, so Monday, like a money habit, people are usually like less specific. They're like, I'm pretty good at budgeting. And I go, okay, cool. And you're like, no, no, no. So my best

budgeting hack is at 6pm on Mondays, the Woolies catalog comes out and you can then budget so that Wednesday, you purchase your groceries and you are done. You're an icon. I know that other people are going to start doing this. I love this. The modern area. I hope that it helps someone. You're a genius. All right. Now, tell me your worst money habit. Do you even have worst money habits? I do. I do. And the one thing that I'm super conscious of is probably sometimes I get into this YOLO mindset. I'm like, yeah, I work really hard and I work hard for my money and I save a lot of money every month and sometimes I deserve it. Let's just buy a jet ski. And so I've owned two jet skis and I still have one. Sorry, what? I did not see. Sorry, sorry, sorry, sorry.

Just to backtrack, we were just talking about how good you were at the Woolies catalogue and then you're like jet skis what yeah oh gosh it's it's pretty funny do you ride these jet skis like please tell me how this fits into your lifestyle like do you live by the water like tell me more I do I do I live like five minutes from the water so yeah I do I do ride them well during summer but I'm actually selling it I buy them I have some fun and then I sell them so they don't go it down because it's definitely not an asset. They cost a lot of money, but it's fun. So this is what I mean by these YOLO mindsets. I go, ah, it's all good. Okay. So tell me more about this jet ski. I need to know. I don't even know what a jet ski costs. What's a jet ski cost? How does

it work? How much does it cost you to run? Tell me all of that. And how often do you even use this? Because at the start of this episode, you're earning $115,000 plus super, plus a car, plus you have a beauty business plus you do disability support work when are you riding this jet ski babe? Well that's my problem is I get into this mindset I'm like yeah we're gonna go every Sunday and then Sunday comes around and I'm busy so a jet ski it depends like you know you can get a brand new one for $25,000 but I'll just get mine from the Facebook marketplace and I think I got it for like $13,000 the most recent one and I hope to sell it for the same okay but in summer so I'm holding it until summer because that's when they're worth more right now people don't

want to buy jet skis because it's winter okay she's an investing icon she she knows how to invest her money it's just sitting there at the moment in in the yard you're a jet ski flipper yes yes yes my first one that I ever owned I sold for $500 more than I bought it for so okay so you got paid to go riding jet skis basically how much does petrol cost in a jet ski it's probably like I put $50 in or like I'll fill up the tank before I go out every time because if I get stuck in the ocean, I need a full tank. So, probably $50. So, that's what I mean is it's not very smart financially though to fill it up every week, 50 bucks. And then if you get insurance on them- No, I do the same. There's absolutely no chance that I would be riding a jet ski

that didn't have a full tank. Like I'm in the ocean, like no one's going to drive past and be like, do you need a lift? Exactly. Exactly right. And then, yeah, if you have insurance on them, it's like $300 a month. Wait, what? $300 a month for insurance on a jet ski? Yeah. Because of how many accidents happen on them in the water. Oh, wow. So tell me about this. So we're holding our jet ski. We're going to sell it coming into summer. Yes. That's quite smart. Will you buy another jet ski? No, no. I need to keep that money in our offset and be working hard for me because this interest that I'm paying every month is very sad to me. What are you going to do instead of jet ski?

Because I feel like you've got this like adventurous spirit. You're going to need some kind of outlet. What's that going to be? I don't really use it now. Okay, fair. Yeah, so I kind of feel like I'll be all right. I just go to the gym, get a coffee, go for a walk, climb a mountain instead, maybe swim in the ocean

instead of ride on the ocean. See, this is a really good example of how you can never predict someone's worst or best money habits or what's going to come out. Because had we tried to play a game of guessing, we would have been wildly inaccurate. Yes. Yes. And I guess that's why I love money diaries. Okay. So at the start of the episode, you told us that your money grade was a solid B. Now I'd probably argue with that because in my mind, you're still 21 and you are killing it at life, but I want to know a bit more about why you think you're a B and what it might take to get you to an A plus. It's probably still this frivolous or like YOLO mindset that I keep

referring to is sometimes I go, ah, I need some new running shoes. Let's just do it. I have implemented a system that I have just done, but hopefully that will help in aiding me to have more just a little bit of barriers around that so the money that I earn from lashes I get it out into cash and I have one of those cash books and they each have a different purpose so one's like shopping and one's like beauty or miscellaneous or whatever and one of them is also um yeah miscellaneous because I'm paid monthly but some months there's five weeks or there's an extra Wednesday and I'm paid on the last Wednesday of every month then I put money away for that so I think it's budget based on four weeks. Makes me feel like I'm saving more. Yeah, no, that's fair.

What's your budgeting system look like right now? For the side hustle money or include? For everything. For everything. Okay. Or have you got separate budgets for each income? I do. Is that what I'm hearing? Yes. Oh, right. So, tell me more about this. So, the beauty money as well as the disability support money when it does come through, I get it out. Some people pay in cash, but if not, I get it all out in cash and I put it into this little book. So, I will divide it between ones for investing, ones for shopping. And that way, when I want to shop, if I don't have money in my little pouch, I can't go shopping. Instead of developing this frivolous, oh, I don't put money away for shopping. I've started to do that. And that way, that money feels like it's working towards

something fun, not paying for bills. And then my normal salary can be, well, obviously, yeah, I send a certain amount to my bills account and that's purely because I don't want them coming out of my offset account just a way to help me feel better like I'm still managing my money I know that the more money in there the better and then the rest no that makes sense we've also got to have like a healthy mindset around our money like and if it's stressing us it's not worth it yes yes that's right and I'm like the extra few dollars of interest that I might have saved for the sanity that it gives me to make me feel in control of my money I'll let it be Now, I don't know if you know this or you need to talk to your broker about this,

but if you currently have an offset, there is a very high chance that you're allowed multiple offsets. So you might be able to establish a few more offsets so that you can still separate your business and not feel too bad, but you're still making the most of the interest, but it is segregated and it doesn't feel like it's coming out of your quote savings account. But while it's sitting there, it's still offsetting your interest. So that might be something that you ask your broker about. Gotcha. Because that might be really sexy. Yes. And I think we did. But you still want it separate. And I totally get that. Still want it separate. But I think we may, we did speak about this and we have to split the loan in order to have two offsets where you pay extra fees for

a second offset. Oh, no, thank you. In that case. I'll depart with that. So, yeah. I get that. Certain amount to the bills and then literally the rest just goes to offset the interest and we live off the credit card and then we pay it. So, that's very new though. That's very different to how I used to manage my money. I never used to have a credit card, but now I've kind of done that for the points hacking as well to get a few holidays. Smart woman. And are you responsible with your credit card? I am. I am. You actually live in the back of my mind when I think about it. Because you're like, Victoria wouldn't be smart with this. I can be better than her. She tells me don't tap, tap, tap. No tapping. No tapping. Research tells us that people who

have credit cards spend 22% more than people who use a debit card. That's terrifying. So no tappy tappy. No, no, no, no, no, no. Oh my gosh. Marnie Dyrus, this has been an absolute pleasure. I feel like I've learned so much from knowing how to get the cheapest price by looking out for the Woolies catalogue on a Monday and going shopping on a Wednesday to how to impulse purchase jet skis responsibly this has been a ride I've loved it sadly it is all we have time for today so I'm really grateful that you've shared I guess all of this with us it's so inspiring to see someone so young doing so well and it just makes me so happy future is looking bright I'm yeah really excited for you and your partner and I'm just so excited that you've gotten here so congrats on the

first home and everything that you've achieved thus far I can't wait to hopefully in a few years tap you on the shoulder and ask to do an updated money diary so let's wait out for that thank you so much for having me and I really do hope that this can give someone a little bit of inspiration and that I can listen to this in 10 years time and go who was she where is she now oh my gosh I love it. Thank you so much. It has been a pleasure. 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 MoneySherpa PTY LTD ABN 321 649 27708 AFSL 451 289.