When people talk about going to Europe they budget in at least $10,000 for their trip. In 2017 I had the honour of being asked to be bridesmaid for my friend in Edinburgh, Scotland. I live in Brisbane, Australia, almost
Societal norms and expectations mean women have a complex map to navigate when it comes to finances as well as other areas of their lives. For women choosing any career path where they are an employee it’s important to remember, your income is your greatest asset. Today I draw on three key insights I learnt from Sandberg’s book, Lean In, to apply to my financial journey: to push past the Tiara syndrome, to negotiate differently and to be authentic and real.
I used to believe I couldn’t buy a house without a husband but now I firmly believe that being single has so many benefits for your finances. The sooner I started backing myself the more intentional I have become with my finances and the closer I am getting to my goal of the illusive $60,000 deposit by Christmas 2018. This week’s post aims to inspire other single Aussie millennials with my top three reasons of how being single is beneficial for budgeting and reaching your financial dreams!
How are you going on your 2018 financial journey? This past three months have been really, really hard for me. On the 17 April I had an accident on my bicycle and fractured my coccyx and two parts of my sacrum. As someone that is normally really active, 2500km logged on Strava cycling before this accident, this has been mentally and physically hard. I have felt like I have lost a little part of my identity and I have been stuck at home. Here’s a quick rundown of my second quarter and how I’m tracking. Today I have $49,530 towards my house deposit and I’m still aiming to get to $60,000 for my house deposit by the end of 2018. There are now 12 pay fortnights for me until the end of 2018, I usually save $818 a fortnight, to reach this goal alongside 6 more interest payments on my savings which are a little over $100 a month. So please read on for my second quarterly spending report for 2018…
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.
Small habits can really add up. This year I am more focused with wanting to buy a house at the end of the year and I thought I’d share with you how I have applied behavioural economics theory to change some of my weekly routines to hack my budget. Here are some items I change up most of the time to find extra money in my budget. These 5 small tips to find an extra $245 a week or $12,740 a year in your account for travel, paying debt or saving for a house! Disclaimer: I’m a millennial so I defo still budget in brunch at the cafe with friends once a week although I’m a sucker for bacon as opposed to avocado.
Nothing boosts me up and inspires me more than a great podcast. Mia Freedman is the owner of the world’s largest female podcasting network with a range of shows go across a number of areas from work and career, health, politics, fashion, art, parenting. Where does this book review fit on a website that is curating resources and creating a new narrative for millennials and finance. The answer is everywhere! Today I will delve into three important messages I got from Freedman’s book, Work, Strife, Balance that have fuelled my financial journey.
What sort of budgeting method do you use? Today I will share with you how I construct a zero based budget and provide you with a free spreadsheet to load in your figures so you can harness the power of your most powerful wealth building tool, your income.
Did you know as well as a gender pay gap of 15.3% in Australia women are also expected to pay more for our deodorant and razors too? Every woman uses between 10,000-12,000 disposable menstrual products a lifetime and while men’s Viagra is GST free women are expected to pay GST on tampons and pads. Not the Economiss, This week’s article has some quick tips for women about beauty on a budget!
Step 3 of the Barefoot Investor Steps is Domino your debts, this means having a close look at your current bills and seeing whether you can negotiate or find a better deal. For me at the moment until I buy my house the only payments I am in charge of are my health insurance and my cell phone bill. This week I will share with you my investigation across current Australian cell phones to you and reveal to you which company I am changing to and how I am getting my next year’s worth of cell phone access for free.