• Net Worth

    Net Worth Update November 2021: Increased by $1,612

    How we Increased our Net Worth by $1,612 in October

    It might not seem like much but any movement up is good. With the kids, pregnancy complications, a variety of paperwork and increased expenses, we are ecstatic we increased our net worth at all!

    Disclosure: This post may contain affiliate links.

    Starting Point

    April 2021 we had a net worth of $649,071. This was comprised of a few debts reducing our net worth as well as property and some investments increasing our net worth.

    Our Liabilities in April 2021

    Custody debt $9,000
    Visa debt $6,000
    Personal loan $12,000
    Cash debt $600
    Cash debt $500
    School debt $900

    Total: $29,000

    Our Assets in April 2021

    3 properties $600,000
    Shares $250

    We had a lot to sort out in April 2021 to be able to work out our true net worth and some is still getting sorted but we have expanded and are happy with our progress.

    Current Net Worth

    Now we are able to track our businesses and a few other things better, our assets look different. We managed to clear some debt in May and in August paid $25,000 for a course for Mr Aspiring Millionaire. To do that, we did cash out some of our assets.

    Our expenses are currently a lot higher than normal due to double rent, more on food etc since he is in another state while he studies. I am looking forward to January when expenses drop and he starts work.

    Our Assets October 2021

    Property: $600,000
    Business 1: $120,000
    Business 2: $ ?
    Business 3: $4,500
    Business 4: $10,000
    Spaceship: $83
    Coinspot: $1,280
    Raiz: $89

    Total assets: $735,952

    Our Liabilities October 2021

    Custody debt $8,125
    Residency visa debt $5,125
    Personal loan $10,723

    Total debts: $23,973

    Total Net Worth in October 2021: $711,979

    How Did we Increase our Net Worth?

    Spending less than we earn and investments naturally growing. It was that simple this month. We didn’t do anything extra to make money as we had too much else going on and we didn’t pay any extra off debt sadly. Only the regular payments.

    Crypto has gone up and down over the month, however we are up from when we started. We use Coinspot and you can get $10 free BitCoin through our link.

    Next Steps for the Rest of 2021

    As mentioned in our last update, we have a lot of changes happening and need to ensure we start 2022 off well. Our family is growing next year making our current lifestyle impractical. We will have 2 teenagers living with us, a newborn and toddler plus if borders open and all goes well, we might have an 8 year old sometimes.

    We live in a 2 bedroom townhouse which is tiny. The car is a small Corolla and while we love the area, the career Mr Aspiring Millionaire is currently training for does not have work opportunities where we currently live. So a move is likely either to another city or since his work will be offshore most likely, I may stay where we are.

    But we would still need a bigger house.

    The 14 year old needs Invisalign which is a few thousand and we want to clear the remaining debt asap as well.

    So to prepare for 2022 and make the most of the last few weeks of 2021, here’s the plan.

    Declutter and Sell Everything

    It horrifies me how much stuff we have. Last week I sold a few items and took a heap to be donated. Yet, there is still more. Knowing what we want to keep and that when we move we will be buying other furniture means I will sell off what I can now.

    Work More

    Our 10 month old isn’t in childcare yet, however, high school finishes in a few weeks. I pay my 14 year old to babysit when it relates to work. At the moment, I am only doing my work on weekends and when my baby naps or at night if I have the energy.

    Once school is out, this will change a little and I will be able to work more than I currently do to increase our income.

    Mr Aspiring Millionaire completes his course in December and they have guaranteed jobs at the end of it. He might start as soon as he finishes or he might come home for Christmas then go. Either way, there should be more income soon.

    Cash in Cans

    We collect cans to cash in. Some are picked up when I go for my daily walk, others are from our own drinks. We don’t get drinks all the time, I prefer we drink water. But when we do, we save the cans and bottles to cash in.

    Cash in Online Surveys

    I have been banking these. Octopus Group is one of my favourites because they pay the highest. However, I do enjoy the USD from Swagbucks and PrizeRebel too.

    $2 to Millionaire Challenge

    We are still doing it, although I paused it while we travelled Tasmania and juggled some family matters. Sitting on $120, the next move has been decided but needs to be executed properly. It’ll be a BIG one to share when it’s completed though.

    Find all the updates on our challenge where we are doubling $2 repeatedly until we generate over $1,000,000 here.

  • Net Worth

    Net Worth Update October 2021

    Our last net worth update was June. We stopped posting for a bit because of issues with family and the expectations based on what was being read. After a short break and some discussion, we have decided to continue focusing on our own plans.

    Right now, a lot of our net worth is up in the air due to cultural issues with some of our land and business. This was something that was a concern of mine from the beginning and now it is all happening how I was worried it would.

    That said, we have formulated a plan to forge ahead no matter what happens.

    Image of laptop and plant on desk.

    Starting Point

    April 2021 we had a net worth of $649,071. This was comprised of a few debts reducing our net worth as well as property and some investments increasing our net worth.

    Our Liabilities in April 2021

    Custody debt $9,000
    Visa debt $6,000
    Personal loan $12,000
    Cash debt $600
    Cash debt $500
    School debt $900

    Total: $29,000

    Our Assets in April 2021

    3 properties $600,000
    Shares $250

    We had a lot to sort out in April 2021 to be able to work out our true net worth and some is still getting sorted but we have expanded and are happy with our progress.

    Current Net Worth

    Now we are able to track our businesses and a few other things better, our assets look different. We managed to clear some debt in May and in August paid $25,000 for a course for Mr Aspiring Millionaire. To do that, we did cash out some of our assets.

    Our Assets October 2021

    Property: $600,000
    Business 1: $120,000
    Business 2: $ ?
    Business 3: $4,500
    Business 4: $10,000
    Spaceship: $200
    Coinspot: $833
    Raiz: $71

    Total assets: $735,604

    Our Liabilities October 2021

    Custody debt $8,325
    Residency visa debt $5,325
    Personal loan $11,587

    Total debts: $25,237

    Total Net Worth in October 2021: $710,367

    How Did we Increase our Net Worth?

    As you can see, the focus was on business for us. We own these and there is a lot we can do to increase their income and value. Right now, we are on a trip interstate but once back, we are looking at outsourcing more to increase our time which enables us to increase our income.

    Business 1 had more marketing done and there was a special promotion which resulted in consistently higher income the past few months. This pushed up the value.

    With number 2, as it is in another country and there are some issues, we can’t value it.

    Businesses 3 and 4 are both online. We were offered this amount for business 3 this week and told a new online one we have started could go for $10,000 right now but we want to continue to build it.

    Our eventual aim is to have multiple streams of income through real estate, business, shares and to create an empire for our kids. We want to enjoy life with them.

    How can we do Better?

    We spent more money on a trip than intended but through freelance writing and photography, we should be able to recoup those costs.

    Mr Aspiring Millionaire is studying, not working. Once he starts working next year, it will change our finances drastically.

    Ms Aspiring Millionaire has been slow on getting some paperwork processed which would result in a few thousand. Once she/I do it, that money will be put towards debt.

    Changes for the Rest of 2021

    With only 12 weeks left in 2021, it is time to buckle down. Having the course paid for is a huge relief for us. It was something we felt weighing on us as the cost was so high and it meant Mr Aspiring Millionaire still could not work. We had to decide if he would get a job or do the course.

    The course means a much higher income and a guaranteed job once completed. It’s the specific career he wants to go into. It is 4 months full time in another state so work at the same time wasn’t practical.

    Ms Aspiring Millionaire has some study to complete and is caring for 3 of the 4 kids while also juggling work and everything else. So childcare will be used soon along with possibly a cleaner. While this cuts into the budget, it frees up essential time.

    For the rest of 2021, the focus is outsourcing, completing courses, increasing income, reducing debt and setting a solid plan for 2022. In 2022, we need a bigger car, will move house and a few other things which will cost more.

    Our eldest also needs Invisalign which we plan to get now the football season is over. She plays football, is extremely rough with it and we didn’t feel it was practical to do it during the season.

    $2 to Millionaire Challenge

    We are still doing it, although have paused it while travelling and juggling some family matters. Sitting on $120, the next move has been decided but needs to be executed properly. It’ll be a BIG one to share when it’s completed though.

    Find all the updates on our challenge where we are doubling $2 repeatedly until we generate over $1,000,000 here.

  • Net Worth

    June Net Worth Update

    How we Increased our Net Worth by $7,441.22

    We started tracking our net worth in April. After a rough year last year, we needed a focus to get back on track. Our net worth is separate from the challenge I am doing turning $2 into $1,000,000 by doubling my money.

    You know those months where it seems you have high bills, then things break and you have to replace them so it feels like you are not making any headway financially. That was this month.

    Devices needed repairing, some big birthdays and a few things for education cut into what we were able to put towards debt. But those things save us long term and the birthdays were worth it.

    Disclosure: this post may contain affiliate links.

    Starting Point

    April 2021 we had a net worth of $649,071. This was comprised of a few debts reducing our net worth as well as property and some investments increasing our net worth.

    May Debts

    Custody debt $8,225
    Visa debt $5,225
    Personal loan $11,407

    Total: $24,857

    June Debts

    Custody debt $8,075
    Visa debt $5,075
    Personal loan $6,831.78

    Total: $19,981.78

    You can see we are focused on the personal loan. This loan has interest, the others do not so it makes sense to clear it asap. However, while we are clearing it, there is a plan to redraw it for education later this year depending on how much we save or have elsewhere.

    May Assets

    Property: $600,000
    Business 1: $70,000
    Business 2: ?
    Business 3: $3,000
    Spaceship: $679.85
    Coinspot: $209
    Raiz: $40
    Retirement: ?

    Total: $673,928.85

    June Assets

    Property: $600,000
    Business 1: $72,000
    Business 2: $ ?
    Business 3: $3,300
    Spaceship: $865.05
    Coinspot: $282
    Raiz: $47.07
    Retirement: ?

    Total: $676,494.12

    The value of our small businesses increased slightly. Our debt decreased as planned which was good and my millionaire project is continuing well.

    Total Net Worth $656,512.22

    This is an increase of $7,441.22 in the 2 months we have been tracking and more focused which we are ecstatic about. Also in that time, we sorted residency for my partner (which took all my time and effort for 1 month).

    How we Increased our Assets

    I was sick as were the kids for 2 weeks making it a little harder. However, the focus was on reselling items (learn how to do that here) and being consistent with business 1. We continued with crypto a little and you can get $10 FREE Bitcoin here. I don’t think my heart could handle large amounts in crypto yet but it has been interesting.

    At the moment, we are using Spaceship. You can get a $10 bonus with the code S8518DLV20 here. We are doing micro-investing for now as we are focused on building our businesses and clearing debt. Mr Aspiring Millionaire has some courses to complete then will start working too.

    Our retirement funds are proving harder to get sorted than I thought. Mr Aspiring Millionaire knew it would take ages as he has had to do so much with the Solomon Islands and Vanuatu before. So this is something we are still working on.

    Property in Vanuatu has remained steady and right now we are not in a position to do much. In the future, we will be developing the properties more.

    Doubling Money to be a Millionaire

    One of the projects we have with our millionaire and financial freedom goal is doubling our money. If you start with $1 and double it 20 times, you reach over $1,000,000. If you start with $2 it is only 19 times you need to do it and the end result is over $1,600,000.

    My first flip was a book for $2 and resold it for $8. Yesterday, I managed to snag another copy this time for 50cents so will be listing that today. It’s not part of the doubling challenge but when I find something that works, I am willing to do it again.

    The second flip was a dress purchased for $7 and sold for $20. As there was a ‘spare’ $1 from the first flip, I used that to purchase 2 books and sold them for $5 each. Books are still doing ok for me as I usually get them for 50cents to $2 and can sell for $5 to $10. Most people buy more than one at a time too. Again, not including all the book sales in this challenge but I am going to continue flipping books.

    With $30 to double, I became stumped. It seemed so much harder to find something worth $30 to buy and resell. Then I remember, the challenge wasn’t only about flipping, it was about finding ways to double my money. I share how I turned $30 into $60 here but the reality is, I won’t know exactly how much I made from that $30 until next month.

    Plans for July

    Mr Aspiring Millionaire will be enrolled in a course. The deposit will be paid next month which will likely mean our net worth goes backwards. It’s an investment in our future though.

    With the kids on school holidays, I do not anticipate I will have much time to do things. However, my daughters are keen to focus on their businesses as well as their side hustles of reselling. Both make money from their art and have various opportunities I want to help them with.

  • Net Worth

    How we Cleared $4,143 Debt and Increased our Investments in May 2021 (Net Worth Update)

    This month we focused on clearing a couple of smaller debts and redoing our budget. Much to our delight, it helped a lot with both our finances and mindset.

    Last month I shared our net worth for the first time. It was a little scary putting it out there but I am excited to track it. Some of our assets were hard to define and still are which means they will be added in properly later. Here are our debts/liabilities and assets compared to last month.

    April Debts

    Custody debt $9,000
    Visa debt $6,000
    Personal loan $12,000
    Cash debt $600
    Cash debt $500
    School debt $900

    Total: $29,000

    May Debts

    Custody debt $8,225
    Visa debt $5,225
    Personal loan $11,407

    Total: $24,857

    How we Cleared $4,143 of Debt in a Month

    As you can see, we cleared a couple of smaller debts plus knocked a bit off our larger debts. We were not as strict as we could have been this month as we had a few larger expenses. One daughter needed a new laptop which was $1,300.

    Sports gear, registrations, a school camp and some celebrations were another $2,000. We won’t restrict these though as we enjoy our lifestyle.

    To get the $4,143 we did a combination of extra freelance writing for me and some odd jobs for Mr Aspiring Millionaire. He’s a hard worker and it’s been easy to pick up some regular gigs. We do declare all our income.

    Image taken in Vanuatu of our favourite area which is 10 minutes from our family and our properties.

    Increasing Assets

    Last month I couldn’t give a completely accurate account because we still need some of our retirement accounts sorted. Also, the properties in Vanuatu aren’t going to be valued for a while nor are the businesses. However, at the moment, here is a rough estimate based on various factors.

    Property: $600,000
    Business 1: $70,000
    Business 2: ?
    Business 3: $3,000
    Spaceship: $679.85
    Coinspot: $209
    Raiz: $40
    Retirement: ?

    Total: $673,928.85

    Our Total Net Worth: $649,071

    As you can see from the numbers above, our net worth is going well. I can’t wait to get our retirements sorted to know exactly what they are as well as expand the businesses.

    The breakdown of our assets are the 3 properties in Vanuatu (and right now, the rental from those goes to support the family in Vanuatu). Business 1 took a hit last year, reducing the income and value. At the moment, we are slowly building that back up again.

    Business 2 is in Vanuatu. Right now, it isn’t producing any income as it is paused due to borders being closed. It’s a tourism based business which we owe nothing on but will likely need to invest some money into when borders open or are close to opening to get it running smoother.

    Business 3 is small and not doing much, however, I was recently offered $3,000 for it. I used to do more with it and have decided to build it a little then sell it.

    How we Increased our Assets

    Increasing our assets was not a focus for us this month but we did manage to invest a little more in shares. We also decided to experiment with crypto a little as you can get $10 FREE Bitcoin here. We figured a small amount is a good way to test our risk tolerance with crypto.

    After the initial free $10, we got an unexpected $150 so I put that in too. Currently, our crypto is worth $209.

    At the moment, we are using Spaceship. You can get a $10 bonus with the code S8518DLV20 here.

    Our retirement funds are proving harder to get sorted than I thought. Mr Aspiring Millionaire knew it would take ages as he has had to do so much with the Solomon Islands and Vanuatu before. So this is something we are still working on.

    Property in Vanuatu has remained steady and right now we are not in a position to do much. In the future, we will be developing the properties more.

    Doubling Money to be a Millionaire

    One of the projects we have with our millionaire and financial freedom goal is doubling our money. If you start with $1 and double it 20 times, you reach over $1,000,000. If you start with $2 it is only 14 times you need to do it and the end result is over $1,600,000.

    Last month, I did my first flip. I bought a book for $2 and resold it for $8. Then, I purchased a dress for $7 and sold it for $20. As there was a ‘spare’ $1 from the first flip, I used that to purchase 2 books and sold them for $5 each.

    Right now, in my doubling money account, I have $30 to use to buy something else to resell. I have been ill so didn’t get a chance to look this week but will be next week.

    What are you doing to reduce debt and increase your net worth?

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  • Net Worth

    Our Net Worth – The Beginning April 2021

    Each month we will share our net worth. Right now, a few things are hard to check or get valued so while this is the beginning of tracking our net worth, some of the figures could be a little off. Also, with our net worth, not all of it can be sold off easily due to cultural expectations or conditions.

    What we Include in our Net Worth

    Net worth is simply your assets minus your liabilities. Some people include ALL their belongings such as cars, home items etc. We won’t be. Here is what will be included:

    For assets, real estate, retirement funds, business, shares and collections. Liabilities include any debt such as mortgages, loans, credit cards, all of it.

    Our goal is financial freedom, not just $1,000,000. The first step is to be worth $1,000,000 each as it is an easy goal to track. Our net worth will not be tracked separately though. Everything is combined below as we are working towards a future together.

    Our Assets

    We have 3 properties in Vanuatu but these cannot be sold. They must remain in the family and our son will inherit them. One has a rental property and the income from that currently goes to support family in Vanuatu. The other two are being used to farm and support family. Combined, these lands are estimated to be worth about $600,000AUD.

    Our businesses need to be valued so I can’t give a rough guide on them as yet. We have had trouble accessing retirement from different countries we lived as well so that will be added once it can be sorted. As for shares, we only have $250 invested right now.

    Our Liabilities

    Combined, our debt is not great. We have a few separate loans and are focusing on one at a time while maintaining minimum repayments on them all.

    Custody debt $9,000
    Visa debt $6,000
    Personal loan $12,000
    Cash debt $600
    Cash debt $500
    School debt $900

    Total: $29,000

    Net Worth

    Once we remove the liabilities from our assets, our net worth isn’t terrible. We have a positive net worth which is the main thing! Our net worth is roughly $571,000AUD. This will be different once the businesses and retirement are sorted.

    Plans For May

    All going well, we will sell a few items which will clear some of the debt. Shares will increase as they are set up to be done automatically. Our budget is being revisited tonight to make a proper plan to include what we want in our lifestyle while achieving our goals.

    We will also be doing some more research on the best way to set things up regarding tax, incomes, investments etc as Mr Aspiring Millionaire will hopefully have a job soon as the residency visa is being applied for this week.

  • Make Money

    How to get Freebies, Bonuses and Sign up Offers: Over $500 worth!

    Straight Up Cash

    Who doesn’t love free money? The offers below are specifically for cash or can be converted to real cash if you choose to withdraw them.

    Image of Australian money by Justin Saula of Black Beard Photography

    Disclosure: this post may contain affiliate links.

    $100 From ING

    I’ve banked with ING for over a decade and love them. So easy to deal with, fee free and you can even get atm fees back if you use other banks. Right now, score $100 for new accounts.

    Meaning, if you have never been a customer of ING you can get $100 for opening an everyday account with them.Here’s what you need to do:

    1. Open an everyday account and put the promo code CNW116 in the promo box
    2. Deposit $1,000 into the account
    3. Make 5 settled transactions
    4. Open a Savings Maximiser
    5. Make a deposit into the Savings Maximiser

    Then you get your $100 the following month. You only have until July 31, 2021 to do it. And you MUST use the code CNW116 to get the $100!

    Instant $20 From 86 400 (Online Bank)

    86 400 popped up in my life about a year ago and I decided to test it out. They are an online-only bank, fee-free and so far, I’ve enjoyed them. Easy to use, the card is one of my favourite colours and you get $20 instantly for joining with the code S7VL6WF when you join free here.

    Instant $5 From Up Bank

    Another online only bank. I’ve used UP for a while, including overseas in 2019 and early 2020. We were impressed with how easy they were to use, the fee free banking plus speedy customer service assistance when we needed it.

    Get your $5 for joining in minutes.

    $10 BitCoin From CoinSpot

    If you have ever been curious about cryptocurrency but too scared to test it out, sign up to CoinSpot for free and get $10 free BitCoin. You can see how it progresses, add a little e.g. $10 and watch your reactions to the ups and downs. Doing it this way is essentially risk free since you got $10 worth for free!

    $5 Bonus to Invest with Spaceship

    When it comes to shares, many people are concerned they will lose money or don’t know where to start. So they avoid it. Spaceship is a great option where you can invest, they split your investments across a great portfolio and you have less risk.

     Use the code S8ONS71M9X here to get $5 free when you deposit $5 within 14 days. It is an easy way to test how you feel about investing in shares.

    $5 Bonus to Invest with Raiz

    Raiz is another microinvesting app but they charge a monthly fee. Get $5 free when you join free here and invest as little as $5.

    $20 Cash Back

    Shopback and CashRewards are two of my favourite cash back apps/sites. Plus BOTH of them offer a $10 bonus. All you need to do is sign up to each of them, then use their cash back options when you are shopping online. Spend over $20 online and you get a bonus $10 cash back. Use both sites and get a total of $20.

    Sign up to CashRewards for free here to get your $10 bonus. And Shopback here to get $10 from them.

    Discounts To Reduce Your Expenses

    If you use any of the following discounts, you can transfer the money straight to your account. Remember, a savings isn’t really a savings unless you do something with the money you saved.

    $100 off HelloFresh

    I have used HelloFresh on and off for years. The quality is usually pretty good, my kids find the recipes easy to follow and you can save $100 off your first box here.

    $100 Off Marley Spoon

    Another meal delivery service I have used at different times. MarleySpoon has $100 off which is split across your first 4 boxes – $40, then $30, then $20 and lastly $10 off.

    $150 off EveryPlate

    EveryPlate is Australia’s cheapest meal delivery service. You can get 40% off your first box then 20% off your next two. If you get the biggest box, that is over $150 saved.

    $60 off Dinnerly

    Another cheaper meal delivery service. Dinnerly has easy recipes with fewer ingredients and less packaging than the others. Get your $60 off which is split across your first 3 boxes.

    Other Tips To Get Freebies, Bonuses and Discounts

    Above were just a few of the big discounts and sign up bonuses we’ve seen. Here are more ways to get discounts.

    Sign up to their email list

    Most businesses offer a discount when you sign up to their email list. I find it useful to have a separate email account specifically for this.

    Add to Cart but Don’t Check out

    Sign into the website you are shopping on. Add everything you want to the cart then leave the site. Businesses often offer an extra discount or incentive to complete you cart within a few days.

    Social Media

    Follow brands and influencers you love to get more discounts. We will share all the discounts and offers we come across on Aspiring Millionaire Facebook Page, Instagram account and in our group.

    Tips to Help You Increase Your Net Worth

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  • $2 to $1,000,000 Updates

    How I Doubled $120 (My $2 to Millionaire Challenge, Step 5)

    What can you do to Double $100?

    As per my challenge to double my money over and over until I get to $1,000,000, I just did step 5: doubling $120 to $240.

    I was hesitant to share this one as it was a bit of an experiment and something many don’t view as serious. However, this experiment paid off for us. It is something I researched a lot before launching into it and it was something I have been looking at doing for years.

    Doubling my Money so Far

    As a recap, I started with $2 which I doubled by selling a book. Next was a dress flipped followed by a refer a friend offer. My 4th double was creating an eBook and now to my 5th.

    To be clear, with this double my money challenge, I wanted to create streams of income. I didn’t want to just buy and resell things over and over.

    With reselling, my daughters and I do it regularly and did before this challenge. It is something we find fun so have continued with that as an income stream. BUT we don’t continue to include the income in this challenge. It’s separate.

    The eBook continues to make money with no effort from me. It’s listed in a few places but again, the income above what I needed to make to double my investment in creating it is not counted in this challenge.

    I have only been counting the amounts I need to double then looking for my next income stream or way to double my money.

    How did I Turn $120 into $240?

    As mentioned, I was a little hesitant to post this but it has done so well for me. A few months ago, I started playing around on CoinSpot. I researched some of the crypto and chose which ones to invest in. You can get a bonus $10 worth of BitCoin if you want to try it here.

    So far, ALL the ones I have invested in have increased in value beyond what I put in. BitCoin increased the most and my investment has doubled.

    Personally, as with any investing, do your research! Investing blindly is the same as throwing mud at a wall and hoping some sticks. Research what you are investing in, how you are investing and be strategic.

    How to Know What to Invest in?

    I am not a financial advisor. On this site, we share what we are doing and most of the articles are written by me, Ms Aspiring Millionaire. What you choose to invest in is your choice OR get professional advice based on your specific circumstances.

    Investing has ups and downs. You absolutely can lose money and at times, our investments have decreased in value. Since we are in it for the long haul, we are not worried.

    What and how you invest will depend somewhat on your risk tolerance level. Mine is pretty high compared to Mr Aspiring Millionaire. I also grew up in Australia, surrounded by people investing in business, shares and even crypto early on.

    My comfort level with these riskier investments is much higher than Mr Aspiring Millionaire. He grew up in Vanuatu where business was extremely difficult, he saw many fail. Shares, crypto and investments outside of real estate were not available.

    Discuss Your Investments

    My top tip for knowing what to invest in, is to discuss it. You and your partner need to be on the same page if you have joint accounts. If you keep your money separate, you still need to communicate about money.

    Know what each others risk tolerance levels are, what you want for your future, how you will do it and seek professional advice.

    Read books, listen to podcasts and learn together. Discuss everything as you learn.

    Resources we Used to Decide on our Investments

    Firstly, we discuss our childhoods as well as our hopes, dreams and what we wanted for our futures. Fortunately for us, we have the same long-term goals. The how has been debatable but we are definitely on the same page now.

    To get there, we researched together and have weekly abundance meetings where we review our net worth and finances in general.

    Books

    The Simple Path to Wealth is one of the most popular books and really helped me explain Indexed Funds and investing this way to Mr Aspiring Millionaire.

    Quit Like A Millionaire was fantastic for helping us understand each others backgrounds better. It also helped me understand the strong emphasis on education his family have. Currently, Mr Aspiring Millionaire is studying and when he is finished, he will be earning significantly more in his chosen career. It was a large upfront cost but will pay off in the end.

    This book also helped show the importance of being frugal (we both grew up in frugal/poorer families but not the worst). Along with the value of investing young. Once he starts working next year, living off one wage will see our investments and path to early retirement skyrocket.

    We Should All Be Millionaires is aimed at women but I found it useful for me to read and share what I read. Since it is about people of colour, includes a lot of statistics and advice, it was relevant to us.

    Unleash Your Inner Money Babe was the first book we did together. While it is more geared to women aka babes, going through the 21 day challenge together was a great way to start discussing money.

    The Big Leap is a favourite of mine. We read it slowly because it required a lot of thinking and some exercises. It will change how you do things and is not just about finance.

    Podcasts

    Manifestation Babe was one of our first together because we enjoyed Unleash Your Inner Money Babe.

    ChooseFI has some interesting episodes we’ve discussed.

    Chill & Prosper is a new one we are enjoying (we also like Denise Duffield-Thomas’ books)

    The Strategy Hour is great for business too.

    What is Next in my Doubling my Money Challenge?

    I have a few ideas for these early stages. Two options involve websites: either setting one up from scratch and doubling my money quickly or buying one and flipping it. Both are things I have done before, both require time and money invested but can be done with as little as $100.

    My intention is to cover both of these on this site at some stage. Exactly what I did and how I did it, so now is probably as good a time as any!

    Image Bitcoin on phone, as coins as well. Text reads from $2 to millionaire. Doubling my money from $2 to over $1,000,000. Step 5: how I turned $120 into $240
  • Make Money

    10 Passive Income Ideas

    How to Make Passive Income

    Millionaires typically have 7 income streams. Since no one can work 7 jobs, you need to look at other options. It’s about working smarter, not harder. Be smart with your time, find ways to generate income with little or no effort and you’ll find your net worth increases much easier.

    Passive income is income you generate with little or no effort. Often you need to spend some time and money upfront but once it’s ready, it can make money easily for you, even in your sleep!

    How I Make Passive Income

    Personally, I’ve been working on passive income for years and it is something we are now working on as a family. Our current passive income includes:

    Book royalties, blogs which don’t require me to work on them to make money, shares, business, eBooks, rental properties, stock photos and peer to peer lending.

    That said, while we technically get an income from these, most of them get reinvested. For example, dividends from shares/stocks get reinvested. Rental income is being saved to develop our property portfolio further.

    In the future, we will be focused mainly on business, real estate and shares.

    Image of money and a plant. Text reads 10 Passive Income Ideas. Photo by Justin Saula of Blackbeard Photography

    1. Digital Products

    Anyone can be an eBook author on Amazon or similar now. If you have your own site, you can sell your books on there too. I have eBooks listed in a variety of places so get royalties each month from Amazon, direct payments from my site and royalty payments from my publisher too.

    Digital products are great because you can make them once and sell them for years. Two of my eBooks are over a decade old.

    Two other digital products include printables which you can sell on your own site or sites such as Etsy and courses which is another option popular among bloggers and influencers.

    2. Book Royalties

    In 2010, a large business publisher saw an article I wrote and wanted to turn it into a book. We did this and there was an extra eBook created from one of the chapters. For years I collected royalties on the print book then I negotiated the rights back.

    However, I still collect royalty payments for the eBook AND since you get payments as an author in Australia for anyone borrowing the book from the library, I get paid for that too. I forget about it until I get the email every few months.

    It’s a nice surprise which I can invest immediately into shares or crypto.

    3. Rent

    Being a landlord is not always as passive as it is made out to be. Repairs, dealing with tenants or property managers, late rent or similar issues can chew a lot of your time.

    However, if you are fortunate enough to have one managed well by someone for you, all repairs etc taken care of and the money simply put in your account, it is a great passive option. This is where we are at.

    Our properties are overseas and taken care of by family there. The money is split, they get some and some is saved for us to develop the property. Since they live in Vanuatu, the income they have is pretty low and the rental income helps put family members through school, ensuring a brighter future for them.

    Airbnb is a popular option for many as well. Since people can self check-in, you have rules and can have a cleaner for between bookings, for many, it is pretty passive. I (Ms Aspiring Millionaire) have previously done quite well with Airbnb.

    Renting a room in your home can be fairly passive. Whenever we’ve done it, we were usually lucky enough to get people we know. Rent/board was set up to be paid automatically and since we come from big families, it didn’t bother us to have extra people in the home.

    As a single mother (previously), having a boarder reduced my workload as they also helped clean at times.

    Lastly, renting out the garage. Other than handing over the keys, this has always been a passive option. The garage has been used by people to store items, run a business or store a car. Each time, payments were automatic and I barely saw the person using it.

    4. Shares

    Invest in index funds, learn and invest in specific shares you want or look at micro-investing to get started. Before investing, take some time to learn. Too many people invest blindly then lose money.

    The sharemarket goes up and down but if you have a longterm view, reinvest and don’t plan to use the income (dividends) until retirement, your portfolio can continue to grow nicely.

    Spaceship is one microinvesting option which you can get a bonus $10 with. Use the code S801FV0EE2 when you sign up and invest a minimum of $5 within 14 days.

    Raiz is another option which offers a $5 bonus. Be aware both have monthly fees now though.

    5. Advertising on Your Car or Fence

    With a newer car, you can be moving advertising for any business. They pay for a car wrap or magnet to be placed on your car. This works best in cities and if you drive a fair bit or your car is parked somewhere with a lot of traffic.

    If you live on a busy street, some businesses will pay you to have signage on your fence as well.

    Both of these don’t require effort after the initial set up. But be aware it can damage paint.

    Image of plant, phone with calculator app open, Australian $50 notes and a notebook with pen.Text reads 10 Passive Income Ideas. Photo by Justin Saula of Blackbeard Photography.

    6. Affiliate Marketing

    We do this through our websites and it forms a significant part of the website income. It’s easy enough o set up a website, market it well then outsource it to make money without your input.

    Affiliate marketing is where you get paid when someone buys something through your link. Many sites are set up as Amazon affiliate sites or similar. It’s a way to sell or promote items without having to have them in stock.

    Some of our best affiliates involve food and finance items.

    7. Ecommerce

    Build a website (The Thrifty Issue has a simple guide on it) and either sell your own products, do dropshipping or do affiliate marketing as mentioned above.

    Dropshipping is a hugely popular option as you can design and create products but not have to stock them. They are sold through your site and shipped directly to the customer without needing a warehouse.

    8. Silent Business Partner

    Partner in a business without being one to make all the decisions. You can either set up a business and be a financial partner or buy into a business. The businesses we own are split between us being active partners and one where we are silent partners.

    9. Stock Photos

    Sell your photos on sites such as iStock. Since we travel and take numerous photos for the marketing work we do through our travel, selling stock photos is a great side option. Once uploaded, we make commissions when they sell.

    We do not upload our best, only generic style ones we don’t care about.

    10. Peer to Peer Lending

    We’ve mainly done this as a charity option but if you have a decent amount of money, you can start doing peer to peer lending through various websites. We have just started with Plenti and will share our experience with that soon.

    How do you make passive income?

  • Life Lessons

    How to Overcome Fear and Money Blocks to Make More Money

    Recently I posted about the cultural differences with money since we have 5 cultures in our blended family. We have extremely different expectations placed on us and since sharing more about our money, there were issues.

    These issues were so big, I stopped posting out of fear. I withdrew on ALL my platforms out of fear. This happened once before, when going through court for child custody. Anything and everything I wrote my ex and his lawyer tried to use against me in court. It didn’t work but it instilled intense fear.

    At the end of July, that fear crept in massively when these issues happened and I stopped everything.

    Image of coffee cup with “Be Strong” on it. Text reads How to Overcome Fear and Money Blocks to Make More Money

    What Happened to Stop me Posting?

    I mentioned in the article about our cultural differences with money pressure to provide. There have been issues throughout our relationship where I have been viewed as a bank or simply money instead of a person. It happened again in a big way and I was done.

    I pulled back completely. We had a 5-year plan which we made clear and it was not being respected. As a result, it felt as if anything I posted on here was being used against us. Because the people asking DO follow and read this.

    We have not spoken since this incident and it has taken me until now to overcome the fear and get back into things.

    On top of that, Mr Aspiring Millionaire had to go to another state, our son started teething and not sleeping, work issues happened, the kids had issues at school and our eldest turned 14. So there was a lot on.

    But I used all of that as an excuse. The thing holding me back was fear.

    How to Overcome Fear

    Firstly, you need to recognise that’s what it is. As humans, we are amazing at finding excuses to avoid anything without acknowledging we are actually scared.

    “Feel the fear and do it anyway.” is a quote I have often applied in my life. Along with “What would you do if you knew you could not fail?”

    After acknowledging my fear, I asked myself, what’s the worst that can happen?

    These people will keep asking for more money? They will think we are stuck up or holding out? They will place their expectations on us?

    None of that really matters to me. Deep down, I do not care what they think. What matters to me is my family and I am sick of trying to please everyone.

    So I put my foot down with that. I said no. I made it clear I will not tolerate this attitude and I stepped back.

    Take Time For Yourself

    Fear is also known as False Evidence Appearing Real. I was scared because I felt that if I kept doing this, they would keep asking and causing issues. Putting pressure on us and never respecting me as a person.

    That is a whole lot of “what if” thinking. In reality, no one can make me do anything with my money. They can’t force me to do anything and if they keep asking, I can choose to cut contact. I can hang up the phone, not respond to emails etc. Whatever it is I need to do to protect my sanity.

    When you are feeling fear or making a bunch of excuses up to avoid something, ask yourself why? Ask yourself what’s the worst that can happen? What’s the best that can happen? And what really matters to you?

    Take some time out to think and work out what is holding you back and why. Then you can take the next step to overcome it.

    Decide What You Want

    What do you really want? What’s holding you back? You can think about the worst case scenarios if you want to then problem solve them.

    Personally, I tend to dive headfirst into things and go for it instead of thinking of every possible scenario. Too man y scenarios will stop me from taking any action.

    If you know what you want, which in the case of this site is to double my money until I am a millionaire and track our net worth, it’s easier to make a plan and stick to it.

    When you don’t know what you want, you tend to float aimlessly and it is much harder to overcome fears or money blocks.

    Create a Plan

    In my situation, I already had a plan. I chickened out on it because of my fears and excuses.

    Create a plan with actionable steps. Even if you only take one small step in the right direction each day, it will add up. Without a plan, nothing will happen and you’ll waste a lot of time.

    My preference is to set SMART goals: Specific, Measurable, Attainable, Realistic and Time-Bound. I like to work on one at a time and do it in a block. Each night I journal how I am going and have a plan for the next day. Being accountable this way helps keep me on track.

    Take Action

    Nothing will happen if you don’t take action. A plan is great but without action, it is simply a wish. Commit to taking daily action to achieve whatever it is you want to achieve.

    As you take action, it builds momentum. Moving in the direction you want to be going will help you stay motivated.

    What Changes am I Making?

    I stepped right outside my comfort zone by outsourcing more of my business since so much of my time is taken up in my personal life right now. By opting out of communicating with the people causing issues, my stress levels dropped drastically.

    I’m focused on the next step of my doubling my money challenge to get to over $1,000,000 and have a better plan for everything.

    How do you overcome fear and money blocks?

    Image of man jumping off cliff into lake. Text reads feel the fear and do it anyway.
  • Uncategorized

    Save, Invest or Something else to Become a Millionaire?

    What is the Best way to Become a Millionaire?

    The best way is the one you can stick to. Only you know how comfortable you are with risky investments vs saving regularly into a high interest savings account. If high risk investments terrify you, then your path to financial freedom or millionaire status might take longer but you will feel better about it.

    Can Anyone be a Millionaire or Financially Free?

    The path to being a millionaire or being financially free is different for everyone. Honestly, while so many people say anyone can do it there is a huge difference between how easy it is and how possible it is depending on so many factors. Background, upbringing, education, knowledge, where you live, health, family considerations and more all impact your capacity to be financially free or become a millionaire.

    Mr Aspiring Millionaire is Ni-Vanuatu (native to Vanuatu) and grew up there, surrounded by poverty. Ms Aspiring Millionaire is a Caucasian Australian from a relatively middle-class background but we had numerous wealthy friends and family, well above our level.

    The reality is, financial freedom for Ms Aspiring Millionaire was always realistic and going to happen. Financial freedom to Mr Aspiring Millionaire seemed unrealistic because of his background but it was what he wanted.

    Image: man in robe facing the ocean in an expensive bathroom.

    Saving to be Financially Free or a Millionaire

    One way to become a millionaire or financially free is through saving. Simply putting a specific amount aside each week or each time you get paid and putting it in a high interest account.

    This is probably the safest but also the slowest and not the best investment as far as most people are concerned. Having $1,000,000 in cash might feel good but if that money isn’t making money then it’s not really the same as having a million in income generating assets. The interest made with this money sitting in the bank is minimal compared to how much you can make with it in other ways.

    It is the lowest risk method though and for some, it feels best.

    Investing in Shares to be Financially Free or a Millionaire

    The preferred method for many in the FIRE (Financial Independence Retire Early) community or who follow that. Shares have statistically outperformed the property market and while it does go up and down, the value, especially with ‘blue-chip’ shares or indexed funds has been solid.

    Warren Buffet made his wealth this way, as have many others. It requires less effort than running a business or property and still returns an income you can live off in later years if you invest enough.

    A good way to experiment with shares to see if you like it is through micro-investing. Spaceship is one option where you can get a bonus $10 for signing up using the code S8518DLV20. You’ll get a feel for how comfortable you are with the ups and downs without having huge amounts invested.

    However, if you want to invest more, there are other platforms which are better to invest through such as Vanguard.

    Real Estate to Become Financially Free or a Millionaire

    This was my original plan back when I was a teenager. I even tried to get my dad to go guarantor on a mortgage when I was 13. Not surprisingly, despite my thorough plan, he said no. He is more risk-averse than I am. If my 13-year-old came to me with a plan right now, I would consider it.

    I owned a house in Sydney during my first marriage which was a rental for a few years. My tenants trashed it and while I had some good times with it, overall, it wasn’t a great experience. But I also hadn’t planned to be a landlord with that home.

    Buying a property specifically as a rental is extremely different to buying for yourself. I’ll go into more detail in future articles.

    Currently, my partner has a couple of properties overseas through inheritance. They are basic and rented to locals. Our future plans are to develop those plans, in the way the family had always wanted to but didn’t have the finances There are also 3 other properties we have rights to but we have not moved on those yet.

    Real Estate Options

    To become a millionaire through real estate you can become a landlord and grow your portfolio. Alternatively, there is flipping – where you buy an old home, fix it up and resell it. This was extremely popular for the past decade. Both options come with risks and real estate is not as liquid as shares should you need the cash for any reason.

    Image: Fancy car

    Businesses for Financial Freedom or to be a Millioniare

    This was how I had a net worth of $1,000,000 by the time I was 30. Due to a long, expensive custody battle, I had to sell off things and was no longer a millionaire.

    Business is how most millionaires I know have done it. Either by founding a business themselves or buying one and growing it. Everything from building to pharmacies, wineries to tourism companies have been used to create this wealth.

    Personally, I love business but I know it’s not for everyone. Our aim is to have a combination of savings, shares, real estate and businesses. It is what we have currently and will continue to grow.

    What other options do you know of or are you pursuing for financial freedom and millionaire status?