Raising Rich
Join single mother, Jo & daughter, Laine as they discuss love, wealth, bankruptcy and everything in between!
It's a podcast for single mama's out there who need that reassurance that they aren't alone trying to make ends meet, or waiting for their Prince Charming.
Jo shares her rollercoaster life story - all the highs and the low's as her eldest joins her for the ride, weighing in with her two cents.
Raising Rich
Dreams, Debt & Deception
What happens when your dream car becomes a symbol of your worst financial nightmare? We kick off this episode with a vivid recount of a nightmare where Jo's beloved Mercedes gets clamped due to looming financial troubles. From there, we unravel the layers of intuition, intention, and personal fears. But hold on, because things take a serious twist with a real-life scenario involving $10,500!
As the conversation shifts to the broader impacts of the pandemic on financial hardships, we delve into the maze of financial hardship applications and the temporary relief they offered. The struggle to sell property, complications with tenant leases, and the ongoing rental crisis paint a vivid picture.
We wrap up with an invitation to women, especially mothers, to share their financial stories in future episodes, aiming to illuminate diverse financial journeys and core beliefs around money. Join us for a heartfelt and hopeful narrative about navigating financial chaos and finding a path to stability.
Follow our mother daughter journey towards financial freedom!
it was martin luther king who said I have a dream. What? Let's talk about your dream oh yes, oh yes.
Speaker 2:You're like, what are you talking? About I had no idea what you were talking about. So you and I, like I said in the last episode, we're a little bit woo woo in terms of we get feelings and we kind of try to be in touch with our intuition and just what's happening.
Speaker 1:The vibes, essentially the vibe, the vibe like the castle, the vibe.
Speaker 2:It's just not the vibe. Oh no, you're too young for that.
Speaker 1:Yeah, I think I watched the castle once when I was a child, and never again no, it's not.
Speaker 2:Um, in terms of so, in my life I believe that I have uh had two outer body experiences, one near death experience where I felt that absolute peace, and I've also had many a deja vu, very, very clear deja vu. So, going back to to Martin Luther King, I had a dream. Well this was a nightmare, and I woke up gasping for air. I had dreamt that I had had my car clamped, so the wheel clamped.
Speaker 1:Now your fourth baby, or technically your fifth baby, after the dog, after the dog after the dog, yes, my fifth beautiful baby.
Speaker 2:My car, that I absolutely love. You know, I've got my mercedes sports that I can't afford. No, I cannot afford, uh, but I did buy it at the time when I was having my cash splash. I happened to go and get my car serviced and that was a Mercedes. But after the service I looked in the showroom and went oh wow that's a nicer.
Speaker 1:Mercedes, that's a nicer.
Speaker 2:Mercedes than the more one, I'm going to go and buy that one. So I went and bought it, yeah, anyway, so I've had a dream that my beautiful Mercedes has had its wheels clamped because I am in financial dire straits and, like I said, I wake up in a panic, I can't breathe. I think I'm having a heart attack Over your car, over my car. But no, it was real, like you know. You know, when you you do deja vu and it happens like, like I feel like, oh, my goodness, that was so real. So I go about putting out to the universe that this is not going to happen.
Speaker 2:This is not going to happen, because I am a big believer in what I talk about. Sorry, excuse me. So I'm a big believer in what you put out to the universe. Is is what you want to happen? Um, and I had decided nope, this is not going to happen. I am not going to have my car clamped. If it's clamped, I won't be able to get to work, to work. I'm not going to get myself into that financial situation, so I have no drama. Remember, quite a few episodes ago, we talked about my fear, zing zang phobia. Do you remember what that is?
Speaker 1:A fear of the letterbox.
Speaker 2:Yes, so I had a fear of the letterbox because I, you know, had a lot of bills, you know, back in the day when I had to apply for bankruptcy. Are you looking up what zing zang phobia?
Speaker 1:is. I just want to know what the actual fear of letterboxes is. It is.
Speaker 2:It's zing zang X-I-A-N-X-I-A-N-G. See yeah, zing, oh zing I a n x. I a n g. See yeah, xin x I n x I a n g. Who comes up with these freaking names? Well hey, just while we're sidetracking, look up the fear of a palindrome ding, ding, ding ding ding ding ding ding ding ding ding.
Speaker 2:That's your waiting music. Ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding ding. That's your waiting music. Ding ding ding ding ding ding ding ding ding ding ding ding ding ding. It's an abophobia. And guess what?
Speaker 2:that's also a palindrome anyway, anyway, a man invented that name, I'm sure. So anyway, I have this fear of going to the letterbox, but I'm over it. Now I go to my letterbox and you are not going to believe what is in the letterbox.
Speaker 1:You're going to ask what? Another letterbox, because she's scared of it.
Speaker 2:It is three warrants for me, your arrest Because I haven't paid three speeding fines.
Speaker 1:Oh, my gosh gosh. I can so picture you in an orange jumpsuit oh, oh, I can't.
Speaker 2:Um, yeah, so three fines, three warrants from six or seven years ago what? Yeah, because they had sent the fines to old addresses. Now the stupid thing is in Victoria you can change your driver's license address. Yeah, but if you're fined because that's a separate department, a separate government department to your driver's license, if they have your record of your address being address A, that's where all your fines go.
Speaker 1:That is ridiculous. How can you work for the government I mean, I have worked for the government, so I know how terrible the systems are but for something as serious as that, that is cooked Yep.
Speaker 2:And so it's only like if you change your driver's license address, no drama, yeah, but like I said, if your fine was originally to an old address, the two government departments don't talk. That is so you leave you and say, if you move out, you don't know you've got a fine, so why would you ring fines victoria and say oh look, I'm just letting you know, just in case, I've got a couple of fines sitting there. Could you please let?
Speaker 1:me know.
Speaker 2:Can you forward them on mate Like cheers for that? So anyway, I had $10,500 worth of fines.
Speaker 1:That is crazy. No, it was cooked, mate it was cooked.
Speaker 2:So I'm in panic mode because I've dreamt my car's gonna get clamped so, mate, you're getting clamped.
Speaker 1:Oh, my goodness, they're putting the handcuffs on you.
Speaker 2:Ring, ring, oh ring, ring like a phone knock knock, so and obviously I don't have ten and a half thousand dollars.
Speaker 1:No well, I mean your louis bag's worth that much. So I I'm not secondhand.
Speaker 2:Now, jeez, I could possibly sell it, yeah, so anyway, I have to go to the magistrate's court, make an application to explain my situation. They then make a decision whether I can have an extension to pay the fines.
Speaker 1:Yeah.
Speaker 2:And I have to nominate myself as a driver because the company car is in a company name. All right, so then your car my car is in a company name.
Speaker 2:So I'm not, as I'm not the registered driver or the registered owner. So what happens is, unless you nominate a driver, you pay this exorbitant amount in the fines. So I have to go to the magistrate's court, make an application to have a time extension to pay these bills. So I go in there and I plead my case and they're like you know, why didn't you change your address? And I'm like well, I didn't even know I had any fines. Yeah, so thankfully they go, yep, worries. So then I have to go and fill out more paperwork, I have to take them to Fines, victoria sign all of that and I send it off and I think, phew.
Speaker 1:But you still have to pay $10,500.
Speaker 2:No well, what's going to happen If they allow me to nominate myself as the driver? I then get 28 days to pay the first original fine, which is like 200 odd dollars rather than a nice little discount, rather than the three and a half odd thousand for each one, for each one.
Speaker 2:So I fill out all the paperwork, send it all in, you know, and I have to wait yeah and I wait and I wait for months, and so all this time I'm stressing that my car is still going to be clamped, but I'm not putting that out to the universe. So that's my first stress at this point in time. Want to know what the second one was? Please do tell. Oh yes, so I have the house out in the west that I originally was living in, with the unit above the garage, out in the west that I originally was living in, with the unit above the garage.
Speaker 2:Now hold on to your hats and try and keep up. Keep up, because there's a few people involved here. During the pandemic, I met a, a lady friend we were friends.
Speaker 2:A lady friend, just a friend, okay. So we I, I meet her. She seems lovely, we hang out together during the pandemic because she lives so close. We become really good friends. She then has a friend who's a single mom who needs a place to rent. So I've moved out of my house in the West. I'm living in the city. I rent the house to her friend. Her friend, she's got all her kids in there. I think she's got five kids to probably six different husbands. No, don't say that, all right, we'll cut that out. So she's a mom, she's got five children, she's living in the house. Then she moves her ex-husband in to live above the garage, then she moves him out, and who else is in there, I don't really care, she's paying the rent, no drama.
Speaker 2:The girlfriend that I had at the time would always bag other people and she would bag this girlfriend living in my house and I'd think, oh, that's really that's not nice, and I'd kind of just nod my head and I started to really become concerned because that's all this person did. She just bagged people nonstop. And she said to me one day oh, don't worry, I never say anything about you because you're my good friend. I'm like oh, okay. Anyway, in the meantime I hire as a tutor her son's girlfriend. She works for me for maybe a month or two.
Speaker 2:It doesn't work out. So I just explain. You know it's not really working out. It's a casual position. She'd taken on another casual position in another tutoring center, so off she goes. Anyway, there's a bit of an issue with the pays and I I don't handle the pays. I've got a manager that does that. So I try to reach out by email because you know I'm thinking well, I just I do want to smooth things over, because it's an ex friendfriend. I've sort of distanced myself from her but I want to smooth things over.
Speaker 2:She steps in on behalf of the son's girlfriend and tries to be quite manipulative anyway, I work out what's going on and I say to my staffing manager you know, get it paid, let's do the right thing, and we do so, that's all no drama. Later her friend is going to move out of my house, so that's no drama, that's okay. We're going to rent the house to somebody else. In the meantime, my girlfriend and her friend concoct a plan to put the son's girlfriend's sister in the apartment above the garage and she will not move out. Not paying me rent has no lease, will not move out. I can't move in another tenant. We have to go to the tribunal to get her out.
Speaker 2:And I'm led to believe, like I don't know who this girl is. I'm led to believe she's somebody else. Yeah, because they tell me that it's a different name. Yeah, and I'm like, oh well, she's got to move out, she doesn't have a lease with me anyway. Yeah, as it turns out, she pretends that she's got a lease and when we're going to the tribunal, the magistrate says, well, do you have a lease? And she says, yes, she shows it. And the magistrate says, well, it's not signed, it's not signed by anyone. Oh well, it should have been signed by the lady in the front house, because that's who I had the lease with and I'm like, excuse me, excuse me, the house is my house. I never had a lease with you. I only had a lease with the original lady in the front house. Yeah, you know, she sublet it to you. That means that you have to go when she goes.
Speaker 2:Yeah, anyway, as the hearing went on, the judge was very, very adamant that I was not allowed to speak because I was represented by a real estate agent. The girl then has to say her real name, because it goes on court documents, and then everything falls into place and I work out who she is. Yeah, so this little bitch stays in my house. So this little chick decides to stay in, but she is a bitch. So this little chick decides to stay in, but she is a bitch. So this little chick decides to stay in my house until the very last day where she's kicked out. So, essentially, she gets to live in my house for about four months, rent free, whilst I have no income, mind you. So she's essentially like a squatter. The chick in the front house has moved out, her and my ex-friend, like I.
Speaker 2:By this stage, her and I are no longer talking because, yes, she was bitching about me behind my back too because, we did have one mutual friend who ended up telling me and I just went all right, well, that's it, I'm done, I'm not interested in people like this. So they've completely set up having this person live in my house, squat in my house for four to six months, leave it in an absolute junkyard mess, that I've got to fork out more money so that I can re-rent the house.
Speaker 2:So I've gone all that time with no income and I'm still battling. I want to try and keep the house Like that was going to be my retirement money, but let me just explain to you what my outgoings were at that time. Okay, so I've got that property in the west. Does everyone have a calculator ready?
Speaker 2:yes so that was two and a half thousand dollars, actually two thousand eight hundred, my home loan of the house that I'm currently in. Five thousand eight hundred dollars. I've got rent on three commercial properties $12,500. A what? A week, a month, a month these are all months. Wages for the three properties, for the staff $15,000. I've got my business loan $4,000. Then I've got my American Express business card. That's $1,200. Now we're looking at around $50,000 a month in outgoings without living expenses.
Speaker 1:Yeah, without just eating.
Speaker 2:Without eating. That's basics. That's not even purchasing resources for the business. That's absolutely nothing like. That's just my major outgoings, and you know. On top of that you've got work cover, you've got insurances, you've got your bass statements, you've got your accounting just your utility bills as well. Everything but this 50 000 was the basic basics, the foundational funds absolutely so what can I do?
Speaker 2:what do you do, okay? Well, I go back with my tail between my legs to the school that I was teaching at and I say to them look, I'm really, I'm in a bad spot. I would like to work as much as I possibly can, please. And because the school that I work at is so amazing the principals are amazing, the teachers are amazing, it's a fabulous school. I've always loved working there they just go yep, no worries, we're really super happy to have you back. That's amazing. It's a fabulous school. I've always loved working there. They just go yep, no worries, we're really super happy to have you back. That's nice.
Speaker 2:So I go back there, and I'm working there four days a week. I'm then going to a tutoring center. I've had to sack a lot of staff because okay, so I've had to go back to my tutoring centres. I've had to take over a lot of the classes and teach them myself, not have the managers in there anymore. Because, like I couldn't even afford a Christmas party Like that's how bad it was. Like I didn't even have $1,000 to splash around and say thanks very much for the year.
Speaker 1:The best I could do was send private messages to all the staff um, so kind of like rewinding, I guess, back to a few years ago, when you're in a position again of working basically seven days a week, two different jobs hectic yep.
Speaker 2:So I'm working at a school four days a week and then I'm going to the tutoring centres and then I'm back working all day. Saturday. All of my hobbies have gone out the window. You know I love dancing, ballroom dancing, latin dancing. That's all finished. Again because I just, firstly, can't afford it. Secondly, don't have the time.
Speaker 1:And, like we said, what's the first thing to go when you can't pay your bills?
Speaker 2:all your extracurriculars, baby yep absolutely so that all goes down the drain. I um, my health really goes backwards. I stop sleeping at night. Remember I was always saying to you I'm waking up between two and five every night yeah, I'm, you know. I'm on my phone messaging people because I'm like, well, this is, you know, this is my life. Now I'm having panic attacks. I'm waking up literally sitting up in bed. You know, like like that's how serious it actually was. I've never found myself in such a precarious, horrible, life-threatening situation in terms of money, like even when I was bankrupt and my sister was dying and my mum was diagnosed with the early onset dementia. That was bad.
Speaker 1:Do you think that the reason why that might be is because back then, when you were going through those things financially, it was just you and your husband, like there wasn't staff involved to the extent of what it is now, of what it is now?
Speaker 2:No, I well, it could possibly be, but what I think it is I. I have a beautiful, beautiful girlfriend. I I'd have to say she's like my best friend in the world. I absolutely love her. She has rented most of her life. She's finally she has bought a house now.
Speaker 2:But I've always said to her you don't ever want to be at the mercy of a landlord because we've got another girlfriend together and she just rents and she's nearly at retirement age and you know there was a time where she was kicked out of her house and she had to really find something very, very quickly. And I said to my best friend, like you don't ever want to be there, no, and I want to hang on to my house, okay, so the possibility of actually losing my home was, and to have it taken out of my hands, like, like when you when we did, when we were living in that unit and the bank was knocking on the door. That's right.
Speaker 1:Saying you got 48 hours to get out.
Speaker 2:And that's what I don't want to happen again. And I think, because I'd had this dream, this deja vu, I thought, oh my God, I'm on the pathway to this happening and so I'm waking up, having panic attacks, sleepless nights.
Speaker 2:Like I said, I thought I was. I was just going to die of a heart attack. I really felt like I took 10 years off my life and I had to go to the doctors and get you know anti-anxiety tablets because you know I needed to get back on track. But like I put on so much weight, I went through menopause. I honestly I've never been so unfit and so unhealthy. I began drinking like all the time, time and that didn't help the waking up at night no either.
Speaker 2:But the stress of finances is is like a building crashing down on you and I was just literally putting out spot fires everywhere and and you know, I have reached out to so many people who I owed money to and I've had to placate them and say you know, if I owe you $8,000, all I can do is pay you $100 a week. But because I owed so many people, so much money it was $100 to you, $100 to you, $200, to them, $600.
Speaker 1:To you, a hundred dollars to you, two hundred dollars to them, six hundred dollars, to them five hundred dollars, to you a hundred dollars and literally my wheels are spinning I cannot work anymore to make any more money I have to do is I finally decide that I have to go into financial hardship and let's just talk about that because, for people that are listening and have listened to previous episodes, you know that my mom has declared bankruptcy in the past and now we're kind of in a similar situation, going through financial hardship. Explain the difference between the two.
Speaker 2:So I think, well, since the last time when I filed for bankruptcy, I'm not sure I really knew about financial hardship. I think, since the pandemic, maybe that's one good thing that's come out of the pandemic. I'm not going to say there was anything else, because I'm sure as shit there wasn't. But if one thing did come out of the pandemic is that people could file for financial hardship, and financial institution institutions have been held accountable to assist people going through financial hardship rather than just saying bang, you're out you're done.
Speaker 2:Okay, I'm going to take your house and I'm going to reap the money as soon as I can. Right on.
Speaker 1:So financial hardship is like a new kind of thing. I thought that it kind of always existed. Well, it might have Like. I'm saying I don't know.
Speaker 2:I don't know how long it's existed for, but I think because of the pandemic and because banks or financial institutions or people who lend money do have to be a bit more accountable, like consumers, have a bit more leeway. Like, for example, if you owe $75,000 to AMX, you can say to them I'll give you $50,000 and then they might write it off for you right okay I'm not going to do that.
Speaker 2:I believe that that's my debt and I have to pay it. But I applied for financial hardship and what that means is you can make an offer to pay back what you can afford, yeah, so obviously I did that with the loans and the American Express card, and the banks allowed me for three months not to make any mortgage repayments. What it does mean is that obviously your interest is still charged and then your loan becomes a higher repayment and you're paying it off over a longer period yeah yeah, so I had to apply for financial hardship.
Speaker 2:I did that, as I said. The banks allowed it. Um, the american express allowed it and the business loan allowed it.
Speaker 2:However, um, I also decided which was heartbreaking, but to sell the house out in the west yeah that was going to be my retirement money, but, in all honesty, I just I had to bite the bullet and make the decision that I am never, ever, ever going to be in this financial situation ever again. Yeah, and so, just when you think things couldn't get any worse, so I sell the house in the west, yep. However, the tenant, who is in there and has a 12 month lease, does not want to move out for 12 months. Yeah, so that actually means I'm not going to get my money until her lease ends, which I understand. She has every right to be there and I'm not against that.
Speaker 2:I have made her several offers to move out earlier. I've made offers to pay for her move. However, because of the living crisis that we're in, there's no rentals. Yeah, there's nowhere for her to move. It's hard, it's so hard. Yeah, even the real estate agent who sold the house for me like, mind you, it took six months to sell the house and I had to sell it for seventy thousand dollars less than what I was asking for originally, and that was the quote that real estate agent gave me I didn't ask for I didn't go, oh oh no, I want extra 70,000.
Speaker 1:I want more. Ah, Veruca, Veruca sold. I want more. Daddy, Daddy.
Speaker 2:So, yeah, I went according to, I was putting the house up for sale according to what the real estate agent said, and just had to keep backing down and down and down. The worst thing was, originally we had an offer for that low price and I said, oh no, you've got to be kidding. Yeah, and I ended up having to accept that price in the end six months later.
Speaker 2:And so yeah, six months down the track, the house is sold, but the lady doesn't want to move out because there is literally nowhere for her to move and the real estate agent are even trying to find her a place, like whenever they get something, they're trying to offer it to her.
Speaker 2:Um, so I'm still not out of the woods, I'm still in that deep dark hole of you know. Now I still have to work four days a week. I'm working in the tutoring centers sorry, I'm working at a school four days a week. I'm working in the tutoring centres Sorry, I'm working at a school four days a week. I'm in the tutoring centres five nights a week, plus all day.
Speaker 1:Saturday, plus all the lovely panic attacks and sleepless nights to add to it, plus the lovely financial hardship that's going on Plus, plus, plus, plus, plus plus. So I mean it sounds like we're traveling back in time at this point.
Speaker 2:It's like a cycle, isn't?
Speaker 1:it.
Speaker 2:It's like a money cycle. I've always believed that my journey has like been a five to seven year money cycle. It's been interesting the more I look at it. Yes, it is on a five to seven year, which, ironically, there are so many. What are they called cycle?
Speaker 1:it's been interesting the more I look at it. Yes, it is on a five to seven year which, ironically, there are so many. Uh, what are they called astrological? Well, I wasn't going to say astrological, but there are just so many other people out there that have done studies on financial cycles, property cycles, yeah, different types of uh yeah, cycles cycles that are to do with money and I'm sure that they're. I'm going to say I'm 78% sure that it probably 78, 78% sure that it definitely probably most likely has something to do Definitely most probably likely 78%.
Speaker 1:To do with some kind of astrological body clock, womanhood, feminine bullshit that we all just get handed to uh, probably due to the patriarchy and capitalism as well. But you know what that's a?
Speaker 2:that's a deeper episode for another day so let me tell you what's happening with my car now. Okay, so with the amex loan I had agreed to pay them a thousand dollars a week, so I'd had financial hardship. That was great. They gave me three months off where I could just pay a hundred dollars a week. But then at the end of the three months they said you have to pay the whole lot back now. And I said I'm sorry, excuse me, where, where am I going to get that money from? I've told you I cannot pay this for 12 weeks. Then I can go back and pay the regular amount. I can't come up with $50,000.
Speaker 2:So sorry so, sorry so anyway they say your loan has now gone to collections. And I go what do you mean? I can pay you $1,000 a week until I pay the loan off. They said oh, no, no, no, you needed to pay the fifty thousand dollars. And I said no, that's ridiculous. A person cannot apply for financial hardship. And then you say yes and then you say but we want all the money in 12 weeks. Like where on earth am I going to get that money from? So anyway, that loan is at collections. Now the only thing the loan is in my business name and the only thing my business owns is my car.
Speaker 2:Back to the clampy clamp. Back to the clampy clamp. So I am ringing these guys flat out every week giving them updates, because what I've had to do now, because I'm not getting the money from the sale of my house for six months, because that was my plan Get the sale, get the money of the sale of the house, pay off that loan, pay off the American Express card. You know, have a bit of a breather. Because I'm not getting that money, I've had to refinance my house.
Speaker 1:I have a question Does the tenant that's living in the property know this? No, okay, no, I was going to say maybe you should let her know and then you she might feel sorry for me, get out the violin yeah.
Speaker 2:I was going to say to her how about she move into the unit above the garage and we move the owners in the front, but anyway, I was going to say why should she move in with you if you're that desperate?
Speaker 1:Oh jeez, well, I don't have a spare bedroom. I know you don't, but you know, push comes to shove. You're going to wait another six months. Oh gosh, well I have to.
Speaker 2:So anyway, sorry, lost my train of thought. So I'm not getting the money for the house, so I have to. Okay, so what I need to do is refinance my current home. Okay now, the beauty of that is because I have partially renovated and because it's in an affluent area get this the value of my house has increased. How much do you think?
Speaker 1:20. Is that a lot? I don't know, I'm really bad.
Speaker 2:Don't say percentage, you just said 78, definitely positively 78 is not definitely positively.
Speaker 1:I told you I was bad at maths, like okay, 20, 20, 000, I don't freaking know I'm so, so bad. It can't increase by $20,000. It's in an affluent area, okay, $250,000. $2 million, $2,500,000. $2,078,000. It's not deal, or no?
Speaker 2:deal. It's not. The price is right. I told you it was bad about. So I buy the house for you know at well, 900 000. Okay, so I do the reno.
Speaker 1:I've only reno'd laughing at I'm just like trying to math it in my head as well, like okay, don't remember when you went for the job I'm gonna share with you. Are you about to embarrass me on our podcast? You know I do the editing.
Speaker 2:Remember you went for the job at the travel agent and you had to work out an extra 10% on the price and it took you an hour and a half. The whole test was meant to take about 30 minutes and you wondered why you didn't get the job. Because you couldn't work out the percentages.
Speaker 1:That is not what happened. I'm pretty sure that's what you told me. I'm pretty sure you told everyone that children are all good at something and you should never put a child down for not having the ability to learn.
Speaker 2:You're very creative, I know that it's just not got a percentage. Okay, back to back, to all right, so I buy the house, okay, just put them down Moving on. So I refinance the house. Originally I pay $900 for the house. Okay, I do a half reno. What do you think the house might be worth now?
Speaker 1:$200,000?
Speaker 2:Mums putting fingers up and trying to mime what the thing is no, I want you to have a guess and I go no more, no more, no more. Okay, all right. So I pay 900 000 for the house, so obviously I've done a little bit of reno. I get the house, uh, re-evaluated. What do you think the house has come back at as a value? Two million, oh my god, can you say, can you?
Speaker 1:just tell me what you want to say, all right so you paid 900 000.
Speaker 2:You spent 100 000 on the reno. A million. You spent 120, so maybe 1.1. Okay, all right, so I've, I've, so I've spent like 900 on the house. I've spent about what? 130 on the reno. What do you think?
Speaker 1:Adding those two together.
Speaker 2:Obviously it's going to go up a little bit.
Speaker 1:I mean, we're still in the living crisis $1 million, no more than that 1 million and 1.5 million.
Speaker 2:No, you've got to say 1.1. You go up by a hundred thousand. Oh, okay, 1.5 million. No, you've got to say 1.1.
Speaker 1:You go up by 100,000. Oh, okay 1.1 milli, no more 1.2 milli. More 1.3 milli More 1.4 million dollars Bing bing, bing, bing, bing, bing, bing.
Speaker 2:Yay, yes, so buying in that affluent area, even though it was a dung bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing, bing b. So what that means is that I can take some money out of the house and pay the loan and the American Express card. So I am just doing a happy dance.
Speaker 1:So, like clampy, clamp free at this point. No, not yet.
Speaker 2:We are not clampy clamp free is that that loan is still at collections and I'm having to call them, you know, quite regularly to give them updates as to what's happening with the refinance of the loan. So, even though and we've had so many hiccups with that that's just been a nightmare. You know re-registering, insurance and oh my goodness, but it's almost there, almost it's, but it's almost there, almost so once that house gets, refinanced and I get those two loans.
Speaker 1:I am still not.
Speaker 2:Oh my god, out of the woods girl. I know the unfortunate thing is because interest rates are going up and up and up. Obviously the house, the cost of the house and the mortgage is going up and up and up, and then because I've refinanced to put extra money on there. It's gone up and up and up. So here's where we are at, and we talk about it in the next episode.
Speaker 1:We want to be down down. Prices are down. Oh, wouldn't that be nice.
Speaker 2:So hopefully you'll join us, hopefully you've enjoyed our bit of laughter and banter and, yeah, we'll jump on to the next episode. I'm thinking I'm feeling like we've probably got just one episode to go before we open it up and ask for people to join us.
Speaker 1:Yeah, so if you're interested in being a guest on the episode, we are looking for some lovely mamas out there, or just even women out there that are interested in sharing their financial story. Doesn't have to be like a 20 episode. Definitely not.
Speaker 2:Story Doesn't have to be like a 20 episode like, even if it's just you know one particular moment in your life where you thought holy Toledo, this is not where I thought I would be.
Speaker 1:It might be again a situation where you have been financially abused. It could be a business deal that had gone wrong. It could just be your money story, where you think that your core beliefs have stemmed from when it comes to finances.
Speaker 2:It could be something amazing that you've done. Like that would be yeah lit to hear. Could be a dream that you had, that came to fruition, as long as it's not a clamping of a Mercedes-Benz.
Speaker 1:All right, we'll see you in the next episode, gang Because this mama cannot continue trading any more time for money.
Speaker 2:Peace out Girl.
Speaker 1:Scout Bye.