Something I found difficult before I started on my house saving journey was a series of evidence of different women and millennials achieving financially. In this new series of case studies I will share the knowledge of others. For my first case study I am proud to introduce you to Tasha, a 28 year old, Brisbane based, single, millennial that I connected with through Instagram. In June 2018 she successfully became debt free clearing $11,489 of debt in 12 months. She writes a personal finance blog, tashagetsfrugal.com where she shares advice and tips, from the best Brisbane birthday freebies, to her budget updates, her goals, interviews with members of the debt free community and her personal finance journey.
Tell me a little bit about yourself and your debt free journey?
My name is Nataasha (Tasha for short) and I’m a 28 year old single girl, living in QLD, Australia. I’ve lived in QLD all my life and I love it here. In terms of family I don’t have a partner or kids but I do plan on having a child on my own through a donor.
In my day job I work as an executive assistant with a large telecommunications company. I have a great interest in personal finance and a desire to help people achieve their financial goals.
In terms of my debt free journey I’m currently debt free, I recently paid off $11,489 of debt in 1 year. This debt was made up of a personal loan and credit card debt.
What got you started on your journey 12 months ago?
At the time I was one of those people living pay to pay. Although I had enough money to pay my bills, and I was never behind with my bills, I still struggled to save money and I had quite a bit of debt. I’d always said that I “didn’t earn enough” to save money but in reality I had a really bad spending habit and was wasting my money .
I heard about “The Barefoot Investor” on Instagram in 2017 and decided to give it a read, I read it all in one sitting. It changed my whole outlook on finances and ultimately, changed my life.
What did you find the hardest point over the past 12 months and what sacrifices have you made?
Initially when I was paying off my debt the hardest thing to change was my spending habits. I used to buy a lot of things that i didn’t really need, just for the sake of shopping and having new things. Changing my mindset in regards to these habits was what made the biggest change to my money. Also just cutting back on my bills in general was a bit part of it. Before this I used to have weekly personal training lessons and as part of the journey I decided to stop doing these as they cost a lot of money and weren’t really getting me results.
I also sacrificed my weekends because I decided to get a casual job in retail so that I could earn more money to put towards my debt. Although i already worked a full time job i wanted to bring in more money so that i could pay my debt quicker.
Tell me about your favourite part of the journey?
My favourite part would have to be the instagram community in general. Also just knowing that i had ‘inspired’ people or helped people kept me going. When i was having a bad day everyone on Instagram was there for me and encouraged me to just keep going.
Tell me about your next financial goal?
My goal now is to increase my savings. I am currently building my emergency fund and then saving for my baby fund because hopefully in the not too distant future I will become a mother.
After that i want to save money to start to invest in shares. My ultimate dream is to buy some land and build a tiny house.
What advice can you give to other millennials working towards different financial goals?
My advice would be get clear on what your goal is first. Then work on what steps you need to take to get to that goal. Sometimes things can seem too huge but if you break it down step by step it becomes less daunting and more manageable.
If you have debt, get that paid as soon as you can. Debt just holds you back. Also don’t listen to what everyone else does. Most people out there have debt but that doesn’t mean you have to as well. Just because everyone else is buying a house doesn’t mean you need to buy. I personally don’t want to spend my life paying back interest on a mortgage to the bank. There is other options…
If you’re on this journey as part of a couple the biggest thing is communication and getting on the same page. You won’t be able to save or pay debt if one of you is still in the spending mindset. Sit down together and work on your budget, goals etc as a team.
What’s your favourite finance book and/or podcast?
My favourite book would have to be “The Barefoot Investor” by Scott Pape. I haven’t really gotten into the whole podcast thing. I have watched quite a few YouTube videos of Dave Ramsay’s show though.
What’s your favourite quote or life mantra?
Lately my manta has been “You Got this” 😊
Well Tasha, you have certainly got this girl. I feel blessed to have connected with you and your journey and your hard work and effort is helping to inspired so many more people.
The Economiss is a single, female, millennial on a mission to buy her first home in Australia. A Kiwi by birth, she jumped over the ditch after she finished her tertiary qualifications in search of employment. The narratives quite often showing up online overshadowed her thoughts of buying a house alone changed in 2017 The Economiss started super charging her finances and saved over 30% of her after tax income towards her house deposit as well as cash flowing four overseas trips. In 2018 The Economiss decided to create a new narrative and share her journey saving 36% of her after tax income for a $60,000 house deposit by December 2018. Do you have some tips to share or want to be featured on the blog, please get in touch!