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Chapter 1: What does Natasha Bamblett acknowledge at the beginning of the episode?
My name is Natasha Bamblett. I'm a proud First Nations woman and I'm here to acknowledge country. Hello, beautiful friends. We gather on the lands of the Aboriginal people. We thank, acknowledge and respect the Aboriginal people's land that we're gathering on today. Take pleasure in all the land and respect all that you see.
She's On The Money podcast acknowledges culture, country, community and connections, bringing you the tools, knowledge and resources for you to thrive.
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 stories educational purposes of course welcome back to another one of our money diaries brought to you by our friends at sky wealth where i get the absolute privilege of sitting down with one of our incredible she's on the money community members and talking to them all about their journey
Let's jump straight into it because this week I got an email and it sounded exactly like this. Dear Money Diaries, I've just turned 21 and I'm in my final year of studying finance and marketing while also working part time in stock operations for a luxury fashion brand and interning at a financial advisory firm.
Money has always been a big thing in my life because my parents taught me to save from a very young age. I didn't even have a debit card or access to my savings until I turned 18, which probably explains why I still get excited when I find something on sale, even if I don't need it. Working in luxury retail has made me realize how wild some people are with money.
I see people my age spend an entire paycheck on one dress they'll wear once while I'm standing there mentally calculating how much that could have turned into if they invested it instead.
I love talking about money, saving and investing, and I'd love to share my early money story with the community and hopefully inspire other people my age to think a little bit more about saving for their future selves. Ah, money diarist. That sounds so exciting.
Yes, yes. I'm young, but you know what? I'd rather start now than think about it in like, you know, 10, 20 years time.
Way back when I worked in retail, I was not thinking about how much that money could mean if it was invested somewhere else. And I was selling really expensive shoes. I cannot imagine what I would be doing right now if I worked in retail and I would just see someone spend like
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Chapter 2: What is the background of the 21-year-old money diarist?
My dad's a tradie and my mom, she's self-employed at the moment, but she worked high up in corporate for many, many years. So from their parents, my grandparents coming to Australia, they had nothing and built everything from scratch. And my parents taught me very early on through their parents that you have to work hard, but not only work hard, but make your money work smarter for you.
So I think since my brother and I were a young age, we've always had that embedded into us. And I started work when I was 13. And as a basketball referee, I earned $6 an hour and then I transitioned to a beauty store at 15. But I never ever, all my money went to a debit card and I only had access to that till I was 18. Wow. Actually having a debit card.
So I feel like I always just never really spent my money and only use the cash that I had for my pocket money or birthday or Christmas because I just knew that, you know, there was no point of spending it on a brand new iPhone. Like I was happy with my iPhone that I had like for five years, for example. So I think that's where it kind of started from being a child to going to university.
I'm studying a bachelor's degree of finance and marketing in my final year, as mentioned in my money diaries. That's so exciting.
Yes.
So I feel like even from university, it kind of clicked that you know, I wanted to start investing for myself and especially because my parents started young. I think both my parents were around like early 20s when they both bought their first individual investment properties. I knew myself I wanted to start now.
So, I think ETFs kept coming off my feed and everything and I was curious and then I made my first purchase of three ETFs when I was 19 years old. So that is nearly two years. I think my first purchase was in May. So I think that just kind of started my journey with it all.
And what do you think meant that you actually committed to that? Growing up, I had a dad who was an accountant. So you would say that I grew up in a relatively financially literate household, but I also didn't listen to my parents. So when my dad was like, you should be saving, and I still remember him when I got my first job, he was like, Victoria, save 10% of your income and never touch it.
Don't look at it. And I was like, absolutely not. I'm not going to do that. I'm going to spend all my money. What about your upbringing meant that you listened to your parents when they said that stuff?
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Chapter 3: How did the diarist's upbringing influence their money habits?
Yeah, yeah. Okay. So just keeping on top of everything.
And then what else? Because that's a lot of money already for somebody who's a baby and also like at uni. That's crazy.
Yeah. And then also on the side, so the other two days, I'm working full time, but like have two jobs, if that makes sense. So I'm interning another two days. So on the Tuesdays and Thursdays, and that is kind of towards more my career path as well. So this internship's for three months.
And yeah, just learning about financial advisory, financial planning, sitting in on client meetings, listening to all these parents be like, be like, oh, you have to make sure you do X, Y, and Z when you're young. Don't be like us. I feel like that's what I constantly keep hearing. So yeah, it's good to get different perspectives as well. Tell me a bit more about this internship.
Do you get paid to do an internship? Not this one. It is unpaid, but they did say at the end of it, they could give me a contract to be able to continue with the firm. It's a very small firm. There's I guess if I work hard, they're happy with me, then they'll keep me on.
But I feel like they said, if you want the right fit for us, then I could use that as a really good reference for my resume as well.
I'm always so suspicious of people who get interns and then don't pay them because I'm just like, that's such good experience. I totally agree. But I'm also like, you're probably getting them to do little admin tasks and stuff. So pay them as admin. I'm just so suspicious.
Yeah. I've done two internships in the past one was through a family friend and he did offer to pay me but I was like no no no it's your own business I don't want payment like I feel like really guilty if I get paid from him and then my other internship yeah I felt like I should have got paid because of the stuff we did as you said admin stuff but with this internship I have
getting a lot of understanding and everyone's very friendly and willing to talk to you and like as long as it's not impacting you negatively like I've got a whole beef around nursing and the like they don't do internships which are they do placements Like I have a big beef with placements because I'm just like, those queens need to get paid. Like it just, it blows my mind.
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Chapter 4: What financial goals does the diarist set for the future?
Because it has the top 100 tech stocks in the NASDAQ. So I thought, let's just chuck in techs of the future. Let's just like chuck a bit of that in as well. I have VHY as well, a high yield. I think a lot of mine are Vanguard as well. And I have a property one, VAP as well, because I want to add some property into the mix as well. Those are my main ones.
VAP is a really interesting one because it's actually a lot lower risk than a lot of other ETFs on the market. So, VAP is the Vanguard Australian Property Securities Index ETF. And that is one, it's called an REIT. And I've done whole podcasts on REITs. It's actually called an A-REIT because it's Australian. Mm-hmm.
But if somebody is wanting to get into the market and they're not so sure about the share market, but they love property, that could be a really interesting thing for them to start like researching into because it gives you that property exposure without having to buy a house. A hundred percent. Yeah, it does invest into like residential, office, retail, industrial, like all property.
So if that's something that people are like, no, I really am a property girly, that's where we might be looking. When did you add that to your portfolio?
So that was added, I kind of restructured my portfolio middle of last year in July. I kind of added a bunch of different ETFs into the mix and Because when I started, obviously all make mistakes when I first mentioned my three.
They're not mistakes. They're not mistakes. We pick things that we thought aligned with our values and then they might not because you learn more. But it wasn't a mistake. It was a learning. It was a lesson.
Yes. So...
transitioning from the three ETFs I chose I was like I need to do some more international as well and a bit more in different like industries and stuff like that so to answer your question that's why I added Vapid especially because at the age I am I can't just buy a property like right now like I'm still and I'm not when I go to the bank especially because I don't have a full-time job and full-time income
I'm not going to be liable to get a loan or anything. So I thought, let's just add a bit of property into the mix. It's only like around 2%, 3% of my portfolio.
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Chapter 5: What types of investments does the diarist currently have?
But it is something that I'm definitely going to look into for the future. But right now, I don't have any personal insurances.
Yeah very fair. So tell me a little bit more about your superannuation because you probably have some default insurances in there. As a part of your investment portfolio is that something you have been focusing on or looking at? I know you work in a financial services firm so you've definitely been around the conversation but what are you doing personally?
Obviously starting work around 13 but obviously the contributions were when I was 15. I never really looked at my super until I went to a lecture actually recently. And the lecture was like, you guys have to get your super and log into it and make sure that you're invested into a high growth. And I just like never thought to look into my super.
Like I know that sounds so like funny, especially because like obviously all the financial knowledge I have, like I just never really look into it. So I did change it recently into a higher growth. So it's not into its default one as it was when I was 15. So I guess that's going to give me a better return as I go into the workforce and age.
Totally. So tell me a little bit more. I feel like you've got a really good one up your sleeve. We already learned a few as well, but what's your best money habit?
So I think I briefly touched on this, but I think automating everything. So the day I get paid, my money automatically transfers into savings and the rest goes into my investment account. And then, as I said, I keep only a little portion on my card that I spend and I have the habit majority of the time. Obviously, sometimes I want to spend a bit more money, so I transfer it from my savings.
But like most of the time, whatever money I have on that card, that's what I spend for the two weeks and then until obviously the next pay. So that's probably my best money habit. And as well, when I go into work, I never spend it on going out for lunch or anything like that. So I think those two are like my biggest and best money habits that I have.
When I was younger and I was in my first, like, I don't know, I would call it like my big girl job and in internships and stuff, because I did the same kind of thing that you did. I felt a lot of pressure to go out with, you know, all the other girls in the office when they were getting coffee or lunch or whatever. How do you manage that situation when you're, I guess, so financially conscious?
You're like, no, I'm not coming out. Or like, are you going along and not buying the coffee? Like, how does, I guess, that new environment of being in an office where other people are doing it and you kind of want to be involved and you're the youngest so you feel like you need to, how does that work for you?
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