She's On The Money - MONEY DIARIES: 6 Figures at 19, Without a Uni Degree!

Episode Date: January 29, 2023

This Money Diarist wants you to know that you don't need a uni degree to earn 6 figures! Money was always tricky in her family but her mum has been a model of hard work and the main bread winner, working as a nurse. At 19, she's now in her dream job and has purchased an apartment. We can't for you to meet her! 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 we get to talk to one of our incredible She's On The Money community members all about their journey. Let's jump straight into it this week because we got a message and it went a little bit like this. Dear She's On The Money, I was born in India and then moved to England before coming to Australia. Money has always been difficult in my family, but my mum is a model of hard work and the made breadwinner in the family working as a nurse. I'm 19 years old. I earned six figures without a university degree

and I've just bought an apartment. I'd love to share my story with you. Ah, money diarist, I'd love you to share your story with me too. Thank you for coming on the show. Thanks for having me. Oh my gosh. I am so excited. How are you so young and bought an apartment and earning six? I've just got questions. I've got so many questions, but let's start Money Diaries as we always do. I want to know if you were going to give yourself a grade, how would you rate your money habits from an A through to an F? I think I would give myself an A minus. An A minus. Oh, given you're 19, earned six figures and bought an apartment, I expected A plus, but we will get to understanding

that a little bit later in the show. Money Diaries, let's jump into the most exciting question of the show. I want to know, can you tell us a little bit about your money story? Yep. So we didn't talk a whole heap about money when I was young, but I know we didn't struggle a whole heap because my mum sent me to private school, which I was very grateful about. And so my mum's always been a very good saver. She never buys herself clothes or any materialistic items, really, unless she really needs it. And so for her birthday, if I ask her what she wants or anything, she'll always say, don't buy me anything, save your money. I'd rather you not spend it on me, which I've always thought was really sweet. And so on the other side, my dad's been more of

a spender. He's more of the idea that you only have one life and you should sort of live it to the best life possible. And so it's been interesting seeing both sides. And so they both had their differences and a lot of arguments stemmed from this idea because my mum was more of a saver my dad was more of a spender and so growing up mums always told me to work hard save money and get a good job and so I've always been a pretty good saver luckily but my parents have never really taught me anything about budgeting or investing because I don't think they were taught by their parents and so they don't really fully understand it either so everything that I've learned I've had to teach myself either from this podcast my millennial money or through

books or from researching and so I've pretty much been working since I was 16 and ever since I've gotten my first job I've always bought everything myself like clothes electronics anything else that I've wanted. And I haven't relied too much on my parents as they've already done a lot for me already. And so straight out of school, I started working full time and I didn't pursue uni, which was different compared to all of my friends as they were all going to uni. So it was definitely a different adjustment and hard for me. So I did TAFE while working straight out of school. And honestly, I haven't looked back since. I love that because there seems to be, especially at the moment, just so much pressure for you to come straight out of school and straight

into a university degree. Where did this idea of, no, I don't need a uni degree come from? Like, why did you know that TAFE was the right decision for you, especially given you work in a relatively, and we'll get to it, but you work in a relatively tech heavy industry that I would have assumed, And he says, maybe through my naivety, I would have assumed you needed a degree in. Yeah, so it definitely stemmed from being in school. My IT teacher pretty much helped me get a traineeship straight after school. And I guess talking to people while I was working also made me realize that I didn't really need a uni degree.

And if I wanted a uni degree, I could always go back and get it afterwards. And I would have the organization I was working at to support for me to pay for it. And I guess money was also another factor. I was more looking to start working rather than having to pay off university. And so that really also persuaded me. And I was like, getting hands-on experience also seems like a no-brainer. I love that. And I love that you just knew that that's what would work for you personally. So can you tell us a little bit about what you actually do for work now and how much money you earn? I'm a cyber consultant and I currently earn 105k a year, not including super. Not including super? Yeah. And you're 19? Yeah. I'm about to,

no, no, this is wild. That is wild. Can you tell me how you got there? Because you don't just come out of school and someone goes, hey, money diarist, here's 105 grand, be a cyber consultant. Like, tell me a little bit about that career journey because I know there's going to be one. Yeah. So straight out of school, as I mentioned earlier, I was working full time. So I was doing a traineeship where I did TAFE as well. And so I did a year of that and then I got promoted. And then after that, I was in the role and it was pretty stagnant. And I was like, oh, I want something else that challenges me. And so I started applying to all these jobs. And at the time, I honestly didn't think anything of it. I didn't think I had

enough skills or anything like that. But my supervisor at the time was like, just apply for it. You never know. And she was really supportive, which I'm grateful for. I love that. And so I actually got this job through another interview that I was doing. And the lady who was interviewing me recommended me to someone in my team. So it was through networking pretty much that I got this job. Wow. That is so impressive. As somebody who's not very good at cybersecurity and all of her passwords match. Could you please tell me a little bit about what that sector includes? Like what is your actual job? And if somebody in the She's On The Money community was

interested in getting into it, like what would your advice be? So there definitely is a lot to cyber and the pathway I've gone down, I would say is more of the non-technical one, which is exactly what I wanted. So it really depends sort of the work that you're doing at the moment, but day-to-day or more long-term it's more of reading documentation and writing reports and conducting interviews that's pretty much the three main things. Yeah wow and do you like what you do you said before this is pretty much what I wanted is it what you wanted to do? Yes it definitely is the team I'm in is honestly amazing it's just such a positive work culture there and sometimes I do feel like an imposter just because of how young I am. But I just have to remind myself that

my age doesn't really determine my professional value. Yes, 100%. I love that. Yeah, but everyone's super supportive and whatnot. So that's always been really helpful. So good. All right. You said before that you've just bought an apartment. I want to know, though, what is your big money goal? Like, what are we working towards? You're 19 and have a killer income. Surely you've got big plans. My main money goal at the moment is probably to pay off the mortgage and then buy an investment property after that. Wow. And is that so that you can retire early or create financial freedom or like why is an investment property something that you're like, oh my gosh, this is what I want to do next? Honestly, I think it's for financial freedom. Like I never want to be in a position where I have

to rely on someone. And I want to be able to be in a place where I can comfortably retire and not worry too much about money. And I feel like buying an investment property might be a good idea. Love, love, love. I want to know next, do you have any investments? If so, what are they? Yes, I do. So I have my super, of course, and then I have a couple grand in spaceship, a little bit in crypto, and a few more grand in ETF. So altogether, I have about 15 grand, not including my super at the moment. Hey, how good is that? And what do your contributions to that look like? Is that something that you're doing monthly or is it a little bit more sporadic or how are you planning that out? Honestly, I haven't done much contribution in

a while just because I really want to get the mortgage paid off. It is something that I just put a bunch of money into. I think it was maybe one or two years ago and I've sort of just let it sit there and forget about it. Yeah. Oh my gosh. Money Diarist, in your letter, You said money's always been really difficult in my family, but my mom has been a model of hard work, which I adore. Can you tell me a little bit more about, I guess, how supportive your parents are or what they think you do? Because I feel like, especially when you mentioned I was born in India and then I moved to England and then to Australia and your mom having been a nurse, I feel like sometimes they don't particularly understand the industry that you might have

gone into. What did they think that you get up to? Yeah, so you're actually right. They don't understand a whole heap about what I do. And when I was looking at like job options, they didn't really have too much to say because they honestly just didn't understand the industry. However, I did explain to them that you don't always need a uni degree, which I found was kind of hard for them to understand at the start because they were under the idea that you go to school, you get a uni degree and then you work and me going down this pathway, they were kind of a little bit confused, but they're both very supportive and they're very happy with where I am at the moment, which I'm extremely grateful for. Of course they are. I'd be insanely proud if you were my daughter.

I asked because I actually have a few girlfriends who are Indian and I feel like Indian parents in particular, they just really want that university level degree. They want you to go out and become a doctor or a lawyer or something that just really makes a lot of sense because obviously they want the best for their kids. Growing up, did you ever feel that pressure? A little bit. I wouldn't say a whole heap. My parents were always quite open to different ideas, although my mum did try to convince me to become a nurse, although that didn't work out. I mean, she's got experience. It makes sense. It's a good career. Yeah. But during school, they sort of knew that I was interested in IT. And so I think they sort of understood that I would kind of go down that

pathway. Yeah, epic. And moving forward, I want to know a little bit more about, I guess, life plans. Obviously, you've got career plans, you have an epic income. What do the next steps in your career look like as well as, I guess, life? Because you said before, bought my first apartment, I want to, you know, buy an investment property at some point, smash down the mortgage. but like, what does the lifestyle around that look like? Because I feel like you're in this position where the world is your oyster, I guess. Yeah. So I haven't actually put a whole heap of thought into this. I do know that I'm quite comfortable at the moment and I'm sort of happy with where I am at the moment. So I haven't actually put a whole heap of thought into

future and what I'm sort of expecting. So I guess I can't comment a whole heap about that actually. No, it's so fine. I just love asking those questions because from my perspective, I'm like, oh my gosh, this money diarist is so driven and so motivated and clearly so intelligent. I bet she has it all worked out. And I had a sneaky suspicion that you would actually say that because I was like, everyone has this underlying idea that you might just have everything figured out because you earn a lot of money. And that's not necessarily the case. All right, let's go to a really quick break. And after the break, I want to talk about debt. I want to talk about money habits, but I also want to talk about what it's like to earn more than a hundred grand when you're

19 and maybe your friends don't. So don't go anywhere, guys. All right, Money Diarist, we are back and I'm actually just going to jump straight into the juicy stuff. I'm assuming you've got friends right now who are at university, who are hustling hard, who are probably, you know, working after hours while studying full time. What is it like being the friend that is earning six figures while all your other friends are probably still at university and haven't quite caught up yet? That is a very good question. I actually haven't really thought a whole heap about that. Obviously, my friends know what I do for work and some of them I've told how much I earn. Most of the time, they're just like, oh, I wish I didn't go to uni and I did what you did.

I'm thinking that right now too. Yeah. And they're like, oh, I wish I, you know, didn't do this degree. And I did sort of like an IT degree and stuff like that. But I do sort of paint a good picture about the industry that I'm in because I think there needs to be more women in this industry. I think that's sort of the main lacking factor. And so I'm always trying to convince my friends to like work with me and whatnot. I love that. Do you think your friends in any way, shape or form, I guess, compare themselves to you? Because it must be. So I'm just reflecting on my experience. When I was 19, I was at university. I was looking at getting myself in even more personal debt than I

currently was in. I was working three part-time jobs and studying full-time. So if I had a friend like you, I know I would be looking at you going, wow, how does she do it? Is she a wizard? do you think that your friends look at you in a comparison way at all and if so like how do you think you can combat that I'm not too sure like I'm sure they would at some point but I always try and remind people that comparison is the thief of joy amen yes which I actually always try and keep close to me and remind that to myself do you find yourself comparing yourself to other people on a regular basis? Yeah, I do. But I try and remind myself that I shouldn't and I'm already in a very good position, which I'm extremely grateful for. But sometimes it is hard to

not compare yourselves. But yeah, I guess you just have to remind yourself sort of how much you've achieved and how well you're sort of doing. Although sometimes it is hard to remind yourself that. That totally makes sense. You mentioned earlier that you've just bought your first apartment. I want to know more about that and the process you went through because the next question I've got for you is, do you have any debt? And you mentioned a mortgage. So tell me a little bit more about your home buying process. So the main thing I would say about it is that I wish I did a little bit more research. I feel like I kind of jumped in to buying an apartment because I found that it was a good time. Obviously, I wouldn't go back and do anything

differently. I'm quite happy with the place I'm in at the moment, but I do wish I spoke to different people and whatnot. But it was pretty smooth, I would say. But I had a mortgage broker who was super nice and he sort of stepped me through everything. So the process was essentially pretty much seamless. How good. That is exactly what you want when you have a good mortgage broker. So how much debt have you taken on, my friend? So 565 is what the apartment we bought it at. And currently it's sitting at 450. What? That is so good. Didn't you only purchase that recently? Yeah, it's been about six months now, but pretty much all my savings goes into it. So that's why. How good. That sounds like an epic habit to have, especially so young. The next

question I've got for you, I want to know, what do you think your best money habit is? My best money habit has to be that I'm very good at saving money and buying stuff on sale, whether it's clothes or groceries, I try and use half price app or use Depop a lot more for my formal. I bought my dress off Depop and then after formal, I just resold it again because I knew I was never going to wear it. So that probably has to be my best money habit. And on the flip side of that, what do you think your worst money habit is? My worst money habit would be that I'm a little bit of an online shopper. And I feel like I'm always doing online shopping and trying to find stuff to buy, even though I don't need it. But I feel like you can never have too much

clothes sometimes. But that's probably my worst habit. I love it. Earlier in our episode, you mentioned that you would give yourself an A minus. Can you talk me through what it would take to get you from an A- to an A+. And do you still think you're an A- after our chat? I do think I am still an A- and what would take me to an A would be putting more money into stocks or something on a regular basis because that's just something that I've kind of forgotten about. That makes absolute sense. I feel like diversifying is something we need to prioritise. But my friend, you're in the first year of your mortgage. It is important to make sure that that is the priority and that you are really comfortable and you're

only 19. So you have heaps of time ahead of you. Money Diarist, I have had such a good time having a chat with you. I feel like knowing that you're 19 and earning six figures, don't have a university degree is actually really, really inspiring. So before we go, I want to know if people are listening to this and they either aren't happy in their career and they've gone, oh my gosh, Money Diarist sounds like she is having an epic time over in cyber security. What would you say about getting into the industry? Like where would we start if we wanted to follow in your footsteps? I would definitely say start by looking at Seek and Indeed.

I feel like there's people always hiring and even though you might think you're not suitable for it, apply for it anyways, you never know. And even if you don't get it, you'll still be networking with someone and that always has benefits. I love that. I feel like that's such a smart place to be. I was talking on TikTok the other day, Money Diaries, just put your hat in the ring and give it a go because what's the worst thing they could say? They just say no. And what do you get out of it? A good experience and maybe a network. You are so right. Agreed. Money Diaries, it has been a pleasure. Thank you so much for sharing your money story with us. And I know the community is going to eat this one up.

So thank you so much for joining us. Thank you so much for having me here. 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 divine and she's on the money are authorized representatives of money Sherpa PTY LTD ABN 321 649 27708 AFSL 451 289.