Know your worth? 6 ways women underestimate their value

Are you a women who knows her worth?

As women, you do your best by your family to make every cent of your finances work for you.

Know your worth? 6 ways women underestimate their valueWhen budgeting, we can spend a lot of time working out ways we can make a dollar stretch further. But what if we could change to the other side of the equation and work out a way to earn more?

The Great Divide

It is no secret that women, on average, earn less money than men.

The media will often come out with generalisations like the gender wage gap is currently 16%, or that men’s Superannuation is near twice the size of a women’s at retirement.

Whilst these statements are true, they do little to get the real issue the attention it deserves. Because these articles are often met with rebuttals like ‘women do more service based jobs like child care and nursing which are lower paid’ or ‘women take time out of the workforce to raise children’.

Comparing simple averages across the whole workforce allows people to pick holes in the argument. And then conclude that the wage gap is a myth.Continue Reading →

Persist and Evolve – core traits for blogging and financial independence

Just over a week ago I was sitting in a room at Rydges Southbank in Brisbane with a brilliant bunch of bloggers at the ProBlogger conference.

I am a big believer in investing in yourself, so saw this as a great way for me to hear from people who have created a name for themselves in the blogging world. I wanted to learn all I could about serving my community and helping to get my money management message out to a wider audience.

As I sat in a room with over 150 other bloggers on day one of the two day event, Darren Rowse, the face behind the Problogger website, delivered his opening address.

He has been blogging for over 15 years and over this time he has learnt a thing or two about what is needed to remain a blogger over the long term.

The two core traits he identified were – Persist and Evolve.

As he was talking I could not help but jot down a note that these are also the two core traits you need on your journey to financial independence.

Let’s look at each of the traits in terms of how they relate to both blogging and money management.Continue Reading →

How Kylie makes over $10,000 a month reselling stuff

When I first decided to start my blog and was going through the process to select a name for my blog, a fellow finance How kylie makes over 10000 a month selling stuffblogger by the name of Kylie Travers was the very first person who opened me up to the wonderful community. 

She was the first to put up her hand and welcome me into the wonderful world of personal finance bloggers.

When I looked into her background a bit more I realised what an amazing women she is. So I could not be happier when Kylie agreed for me to interview her about how she makes over $10,000 a month just by selling stuff online!

Can you let us know a little bit about yourself? Your story is an inspiring which I am sure readers would love to hear a bit about.

I’ve gone from being a homeless single mother because of domestic violence to multiple international award winning CEO, speaker, author, charity and brand ambassador, as well as creating a lifestyle for my daughters and I that we love.Continue Reading →

There is no right way to manage your money

When it comes to managing your finances , it is important to know that there is no right way to manage your There is no right or wrong way to manage your moneymoney.

I read lots of other blogs that talk about how they have tackled debt or gone about their investing journey.

And whilst there are some consistent themes among the stories, it becomes pretty clear that there is not just one way to manage your money.

The ways friends, family, work colleagues or even fellow bloggers handle their money will not necessarily work for you.

If you believe that there is a right way of paying off debt, managing your cash flow and saving for your retirement, an argument could be formed that if you are not doing things “the right way”, then what you are doing must be wrong.

I don’t prescribe to this way of thinking.

Of course there are different ways that can help you to reach your goal sooner or to get better returns on your investments, but that does not mean they are right for you.Continue Reading →

8 Easy Ways to Save Money at Restaurants

Note from Cath: Today we have a fantastic guest post from Leila, the creator of the awesome website Child Friendly Dining 8 easy ways to save money at restaurants– it is the place to find all the best cafes, restaurants, play centres and Bar & Bistros that cater for kids.

I know some of you might be thinking it doesn’t make sense to spend your money on eating out. It is cheaper to cook at home. This is true, but a splurge every now and again I think is perfectly OK.

For us, we often head out on a weekend for lunch with our girls. Even the Barefoot Investor talks about being able to go out for date nights.

So for that reason Leila has joined us today to fill us in on how to get the best bang for our buck.

Families love to eat out, but we can’t always afford that luxury. According to recent studies, the average Australian household eats out a whopping two or three times each week!

Dining at restaurants and lunching at cafes is often the first thing to get cut from the family budget when things get tight.

Follow these eight simple steps to control your dining and save money to treat your loved ones to a relaxed family meal – free of any cooking, dishes and mess!

Know Your Limits

Putting a cap on your eating habits can help you not to splurge. Before you go out, set yourself a budget, be mindful about the prices on the menu and don’t over order on food and drinks.Continue Reading →

14 ways to pay off your mortgage faster

Paying off your home loan faster is a common goal that many readers share with me as part of the Kick Start 14 ways to pay off your mortgage fasteryour Wealth Challenge. As someone who is looking to retire early, owning a place mortgage free is high up there on our families list of goals.

I know there is a school of thought that it would actually be better to invest surplus funds and not pay down the mortgage.

The thinking is that your mortgage is only costing you say 4.5%p.a in interest. If you invest instead in the share market or an index fund that generates returns of say 9%p.a you come out ahead.

Whilst the math makes sense, it is not the approach that we have chosen. Since having kids the security off a paid off home is appealing to us.

It will mean that the level of passive income we need to live off for our investments is much less than when we need to service a home loan as well.

If you have an emergency fund and have removed all your consumer high rate debt, then paying down your mortgage can be a great next goal.

14 tips to pay off your mortgage faster

Continue Reading →

Quarterly Net Worth Update – June 2017 $1,241,367 (+$55,938)

Welcome to my second quarterly update which details my net worth and cash flow as at the end of June 2017. Net Worth Update June 2017As well as the goals I have set for myself for the next quarter.

If 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.

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 financial 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 →

Money Myths stopping you from being wealthy

Are money myths stopping you from reaching your financial goals sooner?

Money Myths Stopping you from being wealthyYou may have heard the saying: A lie told often enough becomes truth.

Whether it is family, friends, a colleague or the media, everyone has a view on money, that they perceive to be the truth.

Often these “truths” are formed from your childhood early money beliefs. And they can have a significant impact on how you view money in your adult life.

Today we are debunking the top two money myths that I am pretty sure we have all heard

  • Money is the root of all evil
  • Money won’t buy you happiness

Money is the root of all evil

I think it is safe to say that we all would have heard this saying, at least a few times in our lives.

People who are wealthy are often seen in a negative light. They are perceived as getting that way by being greedy, or deceitful, in the pursuit of riches.Continue Reading →

The Barefoot Investor review: Is it really the only money guide you will ever need?

Scott Pape’s The Barefoot Investor: The only money guide you will ever need book, has taken on a world of it’s Barefoot Investor Book Reviewown and become a bestseller here in Australia.

Everywhere I turn someone is sporting their orange ING cards and referral codes are found at every turn (sorry I don’t have one).

I read his previous book which was written more than ten years ago now. Which detailed 5 steps to financial freedom for someone in their 20’s and 30’s.

The 5 steps were essentially setting goals, managing cash flow, debt reduction, investing (or working your Mojo account – yep the Mojo was around back in the early 2000’s) and insurances.

Given I was only in the early stages of my financial journey it was a good book to lay a foundation.

But after the latest book came out, I was not really that inclined to buy it. From what I had read on the steps I didn’t really think it could teach me anything I did not already know.

But since a reader reached out to me and asked me to do a book review, I bit the bullet and grabbed a copy.Continue Reading →

Why a dollar saved is more than a dollar

Note from Cath: I have a very special guest on the blog today – Serina from Ms Frugal Ears (you can learn the inspiration Why a dollar saved is more than a dollarfor her site name over on her blog).

Since starting this site I have discovered that the personal finance blogging community is a lovely bunch.

No one I have come across see each other as competition, just another person looking to share their knowledge and help other people to understand their finances better.

What is really cool is that Serina and I actually both started our savings and investing journey in the same place. We were a part of an online savings forum back in the day before Facebook Groups where all the rage.

So without further ado over to Ms Frugal Ears for today’s guest post.

My goal is to become a billionaire. My stepping stone goal is to pay off my mortgage. Then I want to grow my net worth to one million (who wants to be a millionaire? I do!), then to double that to have $2 million net worth by 2020.Continue Reading →