How to save on your electricity bill

how to save money on electricity billThis post is a collaboration between Get Money Wise and Electricity Monster

According to data from Carbon + Energy Markets MarkIntell, us Aussies pay the highest electricity prices in the world. Crazy right?!

If you are like me it is one of the larger bills you receive each quarter. So I thought I’d take up the challenge to see how I could save on my electricity bill over the next quarter.

What sparked the change

As most readers will know, we moved out of Sydney last year to purchase our family home mortgage free. While I love the space that our new 4 bedroom home gives us, I have noticed a big difference in being able to heat and cool the place. Especially when compared to our 2 bedder in Sydney.Continue Reading →

4 nuggets of money wisdom from Aussie Mums

To celebrate Mother’s Day this weekend I’m excited to share with you this guest blog from Kirsty Lamont from Mozo all about money wisdom from Aussie Mums.

There’s more than a little bit of truth to the age-old adage; Mum knows best. Whether it be some soulful counselling after your first heartbreak or much-needed guidance when you first move out of home, mums are usually there to give us a tidbit of tried and tested wisdom, and that’s certainly the case when it comes to managing our money.

So with Mother’s Day upon us, I quizzed the staff over here at Mozo about some of the most sage money advice their Mums have given them over the years.

“Spend more to waste less”

The handful of fashionistas in our office relayed some thoughtful maternal advice about the value of buying high-quality clothing over fast fashion. “Spend more to waste Continue Reading →

The $1 million dollar retirement figure can be daunting…introducing the concept of LEAN FI.

You may have noticed there has not been a lot of new posts on the site lately. I’ve been busy working away on writing for my clients as part of my copywriting business so sadly I don’t get to post as often as I’d like here.  So I’ve reached out to some of my online buddies who are also a part of the financial independence and money blogging community who have been kind enough to offer a guest post for us. 

I am most excited to introduce you to Mr 3000 who blogs over at 3000 days.  He is a new Aussie blogger on the scene and only just starting out on his journey to financial independence so I think he’s a great person to follow and see how it can be done from the start.

Over to you Mr 3000. 

Let’s be honest, having the goal of first paying off your home (or having enough passive income to cover your rent) and then saving $1 million or more for retirement is a daunting task when starting out. It can actually seem an impossible task when the goal is to do this before your 60’s.

What if there was a strategy, where you could reach your life goals sooner rather than later, get back some time, reduce your stress levels and still have $1+ million dollars at retirement and own your home…introducing the concept of lean financial independence (LEAN FI).Continue Reading →

Peer-to-peer lending: What is it and how you can benefit

peer to peer lendingGuest post by Bessie Hassan

Australians’ use of debt finance is ranked one of the highest in the world, with our use of home loans, car loans and personal loans ever increasing as the cost of living heads north. As borrowers seek affordable finance options, an emerging finance trend we’ve seen over the past couple of years has been the rise of peer-to-peer (P2P) lending.

P2P lending removes the need for an orthodox lender, such as a bank, and instead connects investors and borrowers via an intermediary lending marketplace. Some common P2P platforms include RateSetter, SocietyOne and Marketlend.

Investors include both individuals and companies who invest their money with a company such as those listed above and generate profits by charging a fee (and interest) to both lenders and borrowers.Continue Reading →

Avoid a Christmas debt hangover

The average Aussie credit card debt after Christmas is $1,666 with a whopping 82% of people taking up to 6 months to pay it off and 18% taking even longer!

If you are stressing out leading up to Christmas and aren’t sure how to go about having a fabulous time and not getting credit card hangover, look no further. 6 Aussie bloggers tell how they celebrate Christmas in a christmas debtfrugal and fun way. Whether it is traditional family time, fabulously frugal food, or neat savings ideas to take the stress out of your holiday season –you’ll find some great reading here.

Check out ‘Christmas around Australia’ posts from;

My childhood Christmas memories

Growing up I always loved Christmas time. My dad headed up the social club for the organisation he worked for at the time and one of his tasks was to arrange the Christmas party for the company.

It was a HUGE company so there was heaps of coordinating to do. Me and my two sisters over a few after-school sessions would have a production line going in the lounge room making up lolly bags for hundreds of kids.

Continue Reading →

We bought a family home – mortgage free!

You may have noticed I have not been posting much lately.  As I mentioned in my last quarterly update we recently sold our home in Sydney.

Bought a home mortgage freeSince that time that place has settled, we have moved up to the Mid North Coast of New South Wales where my husband grew up. Whilst we have been staying with family for the past month or so I am excited to say that as of a week or so ago we moved into our very own family home – mortgage free!

So between packing and moving as well as taking my freelance marketing business full time, unfortunately, I have had little time to get online and give the blog the love it deserves.

I thought I would share on the blog today a couple of contributing factors on how we were able to become mortgage free in our thirties.

I know for some people this can be seen as a dumb move, as there is possibly better ways our money could have worked for us. But to not have a $3500 monthly payment hanging over our heads and being able to explore working for myself. No return on investment can top that.Continue Reading →

Quarterly Net Worth Update – September 2017

Welcome to my third quarterly update which details my net worth and cash flow as at the end of September 2017 as well as the goals I have set for myself for the next quarter.

Net Worth Update September 2017If mine is the first personal finance blog you have come across firstly I am super humbled by that and secondly you might be thinking this is kind of strange putting the info out there for the world to see.

However, it is a fairly regular occurrence with bloggers to either track their net worth or report their monthly income. For example, J.Money over at Budgets are Sexy has been tracking his net worth for over nine years now and so have a bunch of other bloggers that you can check out in the Rockstar Blog Directory.

I debated whether I should post this or not as I was not sure about how the information would be received, particular here in Australia where ‘tall poppy syndrome’ can mean anyone who seems to be doing ok can be shot down in a hurry.

But my view is that if you have come to my site which is about becoming financially independent in order to retire early then you must be a little bit open-minded and willing to discuss what can be a taboo subject. Continue Reading →

Are men or women better with money?

I know broad statements about gender are risky. As the way someone approaches their finances is an Are women or men better with moneyindividual as can be. But there is no denying that there are some trends and studies that show a difference in the way men and women view investing.

You only need to take a look at some of the bloggers in the personal finance space to see some of these trends emerging. There is a lot of blogs by women that are focused on budgeting, saving and being thrifty.

Whilst most of the bigger names in the financial independence and early retirement blogosphere are males (think J. Money, Mr Money Moustache, Grant at Millennial Money and Mad Fientist.

So the question is, are women or men better with money? And is there something we might be able to learn from each other.

Men earn more

I mentioned this in my know your worth post, that a gender divide still remains and is not going to go away anytime soon.  As a result, men tend to have more money in investments than their female counterparts.Continue Reading →

7 different ways to manage your budget

When it comes to managing your income and outgoing expenses, without a budget you can quickly lose seven different ways to manage your budgettrack of where your money is being spent.

No-one enjoys living from one payday to the other, so the best way to get control of your finances is to start with a budget.

Even the mention of the word can make some people cringe. But it is important to know that there are lots of different budgeting methods, so finding the right one that gels with you could be the key to success.

In this blog, I take a look at the top 7 budgeting methods that are easy to follow. You are sure to find the right one that fits your personality and budgeting style.

The percentage or buckets method

This method of budgeting has been written about in a number of different finance books over the years. In essence, it is dividing your income into a number of different categories or buckets that are broken up into a percentage amount.Continue Reading →

Three common triggers that propel your pursuit of wealth

A few weeks ago I watched a short clip from Kerwin Rae, a business strategist and motivational speaker. He three common trigger to propel your wealthoften does short snippets of video on his Facebook page and this particular one really resonated with me.

The clip was all about three common triggers that propel people along quickly in their pursuit of wealth.

The three triggers to create massive momentum when building wealth were:
A new relationship
Birth of a child
Experiencing mortality

This got me thinking as to how this is in fact so true in my life, and perhaps it might be in yours too. In this post I take you through how these three triggers have shaped my financial path.

A new relationship

In the clip, it talks about how meeting someone and starting a relationship can inspire you to feel like you can conquer the world.Continue Reading →