• 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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  • 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?

  • Life Lessons

    How I Lost $1,000,000

    What I Did to Lose $1,000,000

    This is from Ms Aspiring Millionaire and happened before she met Mr Aspiring Millionaire. We all make mistakes, these are some of my big ones!

    Back in 2014, I was a CEO and my net worth was over $1,000,000. Owning multiple websites, a marketing business and doing a lot of public speaking, consulting and charity work saw me achieving my goals and in a good financial position. So how did I lose it all and have to start over?

    Divorce Crushes Your Finances

    In 2013, I got divorced. Australian law means you have to be separated for 12 months and 1 day before you can apply. It was a messy divorce because of domestic abuse, so there was a protection order in place and a lot therapy needed for my daughters and I.

    The divorce part was easier because I had a protection order, our daughters lived with me and the judge was satisfied with the arrangements. However, custody was not finalised at the time. Instead, I was advised to hold off on applying for that immediately as even with the abuse, 50/50 care was the most likely outcome.

    In 2015, I needed passports and he wouldn’t grant them. Which meant, I had to apply for custody. This was just one part of a few bad decisions and circumstances.

    Health Is Everything

    In 2015, I became paralysed, had multiple surgeries and in the middle of it all, tested positive for cancer of the bladder. I had polyps removed (and have had a few surgeries for this since then) but all is ok. For 7 months, I had excruciating pain and paralysis on and off making life extremely difficult.

    Much of my work was able to be done from home but it suffered. If I spoke at an event (using the prescribed pain killers and nerve blockers), I would be out for 3 days after because of pain and paralysis.

    Ill health took a massive toll on my body, along with the expense of custody.

    Moving and Trusting the Wrong People

    At the end of 2015, my health was improving but my finances were in a terrible state. We moved to Melbourne as my then live in boyfriend got an amazing job. He had been unemployed throughout 2015 so this was huge for him.

    He moved a few weeks before us, then right as I was meant to be moving and had sold off everything, made all the arrangements, he decided we couldn’t live with him. With severe mental health issues and addictions (which I was unaware of at the time), he kept changing his mind. I made other accommodation arrangements but we ended up back together.

    Trusting him was possibly the stupidest thing I have done and it cost me a fortune. We had gone halves in a car but it was only in his name. He sold it and never gave me my half. Everything about his life was more important to him than the needs/wants of my kids and I.

    Broken Promises

    Despite promises of things being even and him providing more since I had financially provided for us the whole of 2015, he didn’t. We called it quits later but it was a messy, co-dependent relationship. His addiction to alcohol, cocaine usage and anxiety issues were horrendous.

    To be clear, he was nice in the beginning and seemed to have it together. He had a great job, nice friends, played sport etc. As time went on, his true personality came out but because I had left an abusive marriage a few years before and my kids were attached to him, I tried to make it work.

    When we broke up, I was done with men. I was also financially devastated and still in the middle of the custody battle with my ex husband.

    Child Custody is Expensive!

    7.5 years after I left, I was finally granted full parental responsibility of my daughters. Meaning, I got full custody and he has no rights. The process has changed now but it was a nightmare. We started in Canberra, then I moved to Melbourne and had to go through it there. In Melbourne, my daughters were selected to go to China with their school (only 12 kids got to go). He still objected so it got more intense.

    In the lower courts, a lot of lies were told by him and since we couldn’t subpoena evidence until later, our case was pushed to a higher court. He had my daughters put on the watch list once the courts made him sign for the passports so they still didn’t get to go to China.

    I had to get a full psychiatric assessment because he claimed I had mental health issues. That cost thousands, on top of the lawyer fees. Then in the higher courts, I had to have a barrister too. I also had to pay for the court usage since I was the one who applied for custody. Not only did I have to pay for each day in court but all the preparations.

    Protection Order

    During all of this, he was harassing us again with multiple phone calls and threats. I had to get a new protection order as my daughters and I were scared. A 5 year, super strict protection order was granted. Our judge on the day was amazing. My ex didn’t show so it was granted and she gave us more than I asked for. We were hoping for 1 year.

    Because it was now 2019 and I had left him in 2012 which is when the first report of his violence was made, it was classed as long term, ongoing abuse. So the judge gave the maximum protection she could.

    Extra Legal Expenses

    At this stage, I was emotionally and financially exhausted but things were progressing. We were finally able to subpoena evidence from police in multiple states, child protection, teachers, psychologists and other people who had made reports about my daughters against my ex-husband.

    When it all came to the courthouse, a lawyer has to go up and go through it all. I had to pay for that time plus the rest of the preparation time. They had never seen so much evidence and it ALL matched exactly what I had said and the evidence I had outlining times, dates, organisations/people involved etc. During this process, his lawyer sent notice that he no longer represents my ex.

    Since he never turned up and his lawyer dropped him, he didn’t have to pay for anything. The court made so many allowances for him then finally, in the higher court, we got a great judge who did not tolerate his games. When he didn’t turn up, the court called him, he said it was all too hard and the court ordered him to come to the next one. If he didn’t, a decision and order would be made without him.

    Fortunately, he did not show up. The court appointed children’s lawyer agreed with me and the evidence so I was awarded everything we asked for.

    But it cost me everything I had. In the end, I even sold off all my furniture and moved out of our house. We planned on travelling full time once court was done, so I didn’t mind doing this. I also had to borrow tens of thousands of dollars from my parents to complete it. Thankfully, my parents could afford to lend me money when I needed it.

    Therapy After Abuse

    From 2012, my daughters needed speech therapy which was expensive. But with everything else that happened then and over the next few years, they needed a lot of other therapy and help too. As did I.

    At $200 a session for counselling/psychology and $90 a session for speech therapy, it added up fast. In 2013, I paid more a week in speech therapy and psychology than I paid in rent. It was worth it though.

    My daughters and I are well adjusted. They are eternally grateful I got them out and got them help so they could process everything.

    During the years of abuse and court, my daughters were triggered at times. This meant, with all their needs, I could not work full time in a job. I had to do side hustles or my own business but my time to do it was limited.

    From CEO to Freelancer

    I sold my company when I was in the bad relationship in Melbourne. He had managed to convince me he was better at everything than I was (despite me speaking internationally and winning awards). I lost all my confidence and had enough.

    After that, because of the emotional strain of court, the bad relationship and other issues, I barely coped. Instead, I did what I could as a freelancer, did side hustles and focused on healing my daughters and myself.

    What Changed and How I am Changing it with Mr Aspiring Millionaire

    With all of that, you can see why I would not want to be in a relationship again. I decided to go for financial independence, travel and have a fun lifestyle with my kids instead. It was fun and my kids loved it. We did it like this for quite some time. Deep down, they both told me they wanted me to be with someone and be happy after they grew up. I was not ready though.

    But when Mr Aspiring Millionaire and I met at the end of 2018, the connection was instant and obvious to everyone. I was hesitant, yet despite being in different countries, we got to know each other and it worked.

    My work took me back to the Solomon Islands where he was working a few times and after 10 months he quit so we could travel together. We have the same goals, same dreams from childhood regarding finances, investments and lifestyle. I don’t know any couple who matches so perfectly on the big things as we do.

    Which brings us to now. We’ve combined our finances and are working towards our future together. Monthly net worth updates are shared here and we have a doubling our money challenge here.

    With 4 kids between us, our goal is financial independence as a large family. Not only for us but also our family in Vanuatu and the Solomon Islands.

    Summing Up

    So basically, I lost my million dollar net worth because of bad decisions with men and ill health. Having the right life partner and being healthy makes a huge difference to mind, body, spirit AND finances. I am so happy to now have a partner who wants the same things in life as I do and is supportive.

    In the time we’ve been together, we’ve managed to travel a few countries and a large portion of Australia. We’ve faced bushfires, a cyclone, lock down in another country, repatriation, setting up a new home twice (once overseas and once here). Plus buying a car, visa applications, residency applications and so much more.

    Yet, we are currently in a better financial position than either of us could have imagined and have learnt from our mistakes.

    What Big Financial Mistakes Have You Made?

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  • Make Money

    How Will You Spend Your First Million?

    What Would You Do With $1,000,000?

    How often have you thought about what you’d do if you had $1,000,000? Becoming a millionaire is a dream for many but it isn’t that unrealistic anymore. Aside from winning lotto, there are numerous ways to make a million or more. Once you have a million, what would you do with it?

    How to Earn, Save and Invest to have $1,000,000

    The most secure way to become a millionaire is to do it yourself through saving and investing. Waiting for an inheritance or lotto win means you could wait your whole life and never reach the financial freedom you want.

    Earning, saving and investing puts you in control of your money. Many people become millionaires within 30 years or in time for retirement through living frugally, saving and focusing on their retirement. This is not the way we want to do it in our family.

    Those who have their own business and investments can do it in under 10 years, some as little as 5 or 7. You can find out more in the book We Should All Be Millionaires.

    Successful businesses seem to be one of the quickest ways to become a millionaire. Investing wisely in indexed funds as per The Simple Path To Wealth is another simple way to do it. Or look at getting into a highly paid job, sacrifice a lot for a few years while investing wisely then retire as per Quit Like A Millionaire.

    What Would You Do With $1,000,000 You Saved or Invested?

    Once you have saved and invested to have $1,000,000, what would you do with it? If your plan is to use it in retirement, you will likely redraw on it over time until eventually you have nothing or you pass away.

    Others, use it to invest more. Once you have $1,000,000 it is much easier to increase your investments quickly. Having a few million invested means you can get an income from the dividends and live quite comfortable without decreasing the value of your investment.

    Meaning, you can live off a wage paid by your investments and still have over $1,000,000 stashed in investments. Doing this ensures your future and finances are safe.

    What Would You Do If You Got $1,000,000?

    This is very different to investing and earning $1,000,000 over a long period of time. Most people who suddenly get $1,000,000 e.g. through lotto or an inheritance, blow it. Having a plan for what you would do with a sudden injection of cash is important to ensure you make the most of it.

    If we suddenly got $1,000,000, what would you do with it? We often play a game where we list out what we would do if we won $1,000,000 or $10,000,000 etc.

    Be clear on how you want to spend the money. Below is an example from one of my clients. The crypto is because they are interested and if they suddenly got $1,000,000 they feel part of it would be fun money.

    $27,000 to debt
    $223,000 to develop the property
    $500,000 to indexed funds
    $250,000 to crypto

    Total: $1,000,000

    Of course, that doesn’t take into account taxes or other expenses. But when you are playing it as a game or pretending you don’t need to include taxes or you can say it is $1,000,000 after tax.

    Manage Your Money Now

    As is having a budget. If you aren’t in control of your money already and overspend, what makes you think you would manage $1,000,000 any better than that? Get

    What Will We Do Once We Have $1,000,000?

    This site is about our journey to $1,000,000 net worth. Our aim is actually much higher. $1,000,000 is the first goal. As mentioned, it would be used to develop our land, clear debt and invest. It is when we get to the higher amounts that what we really want becomes clearer.

    We have a dream home in Vanuatu we want to buy which is a few million dollars. It’s where we want to get married and have forever. There is land here where we live in Australia we’d love to buy and develop to own a few specific businesses on.

    Our desire is for multiple businesses, over $4,000,000 invested in shares/indexed funds/crypto and freedom to travel. Which means, once we hit $1,000,000 we will keep going.

    What Would You Do With $1,000,000 And How Will You Get It?

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    4 Ways to Make $1,000,000

    How can you make $1,000,000?

    There are multiple ways to make $1,000,000. A million dollars used to be the dream amount for many but now it is much easier to achieve. And for some, won’t be enough to live on in retirement. Personally, we are aiming higher but our first goal is $1,000,000. So how can you make $1,000,000?

    1. Save, Save, Save Until You Retire

    The average wage in many Western countries is around $50,000. This means, in 20 years, $1,000,000 passes through your hands. If you are part of a couple, you could save one wage and live off the other. Or go further and look at how you can save one wage PLUS a percentage of the other wage.

    Saving as much as possible, putting it into a savings account and letting it grow with the minimal interest in there is one of the longest ways to get $1,000,000. For those who don’t like risk and prefer to set and forget with their finances, this is a great option.

    Save one of your wages, max out retirement funds and any bonuses from your employment to increase your net worth and eventually, you’ll become a millionaire. If you are a couple, you might want to have $2,000,000 so technically you are both millionaires. It could take decades to do it though and you’ll spend your whole working life scrimping and saving.

    2. Invest in Shares/the Stock Market/Indexed Funds

    How you choose to invest in the stock market is up to you. Indeed funds have performed the best over time and outperformed hedgefund managers and others guessing at stocks. They are easy to invest in and essentially a set and forget option with a higher payout than just saving.

    Invest then as you get dividends, invest more. Learn about the stock market and your risk tolerance level. Some people cannot handle the ups and downs. If you can’t, do not invest in individual shares. Instead, go with indexed funds. Read and learn more about it in The Simple Path to Wealth.

    3. Business

    Either start your own or buy one and increase it. Numerous millionaires all over the world made their millions through business. It doesn’t need to be a huge business. See a need, find a way to fill it, expand and you’ll get there. People have made millions through blogging, drop shipping, yard work and all sorts of businesses.

    You don’t need to change the world with your business. Find something you are interested that people want or need and do it.

    Marketing, business management and the general running can all be learnt or outsourced. However, make sure you are on top of finances. Have the finances separate to your normal living expenses. Too many business owners starting out don’t separate their finances and it ends up messy. Plus it is hard to expand if you can’t prove business income.

    4. Inheritance

    Quite a few people I know will inherit over $1,000,000. This isn’t a method to rely on though because who knows when you will actually see it or if you will at all. Plus, inheritances can bring out the worst in people with fights for years to get what people thing they are entitled to.

    It is a way to become a millionaire but not one to depend on. However, if you do expect an inheritance, work out what you would do with it before it comes. This way you are prepared and can make it work for you.

    How Are We Making $1,000,000?

    We are doing it a couple of ways, firstly investing, secondly with a quirky challenge. Our challenge was starting with $2 and doubling our money. Doing this 20 times equals over $1,000,000.

    How will you become a millionaire? What ways do you know of others becoming millionaires?

  • About

    Aspiring Millionaire shares the journey of a culturally and linguistically diverse family working towards financial freedom, using what we have, and getting resourceful. 

    Our goal – to create financial freedom and stability for ourselves, my kids and future generations. 

    Ideally I will be in a position to retire fully if we want to within 10 years. 

    We do not come from wealthy backgrounds, in fact, Mr. Aspiring Millionaire grew up in one of the least developed countries in the world (Vanuatu) and I ended up homeless as a single mother after divorcing my ex husband. Our backgrounds are extremely different but our life goals, interests, and love are the same.

    Now, we are in a position where we can focus on building our net worth and working towards financial freedom and retiring early.

    About Our Family

    We are a culturally and linguistically diverse family of 6.

    Mr Aspiring Millionaire: 30-year-old Ni-Vanuatu male (Ni-Vanuatu is the term for people from Vanuatu). Currently unemployed as he is not allowed to work in Australia. Previously, he was a marine engineer and diver but quit so we could travel and be together. He loves being active and doing physical work.

    Ms Aspiring Millionaire (me): 36-year-old Caucasian Australian woman. I work mainly in marketing but am fairly flexible, taking on projects I enjoy rather than working constantly. Family is everything to me so I structured my life to be flexible around us and what we want.

    Our kids are 13 and 12 year old part Tongan, part Maori daughters (from my first marriage), 7-year-old part Ni-Vanuatu and part Solomon Island daughter then our half Ni-Vanuatu, half Caucasian Australian newborn son.

    We spent time in Australia, Vanuatu and the Solomon Islands until mid 2020 when we were repatriated to Australia from the Solomon Islands. At that time, Mr Aspiring Millionaire couldn’t work, my work had taken a huge hit and I was pregnant with our son. It was a complicated pregnancy so until now, finances have been tight and it’s been hard.

    Now we live in Noosa, Queensland, Australia and are ecstatic to be working towards our goals.

    Why Aspiring Millionaire?

    The real goal is total financial freedom. $1,000,000 is easy to track and a goal many people have. That $1,000,000 will be income-generating assets mostly, not $1,000,000 cash. Although, if I cash it all out it would be worth $1,000,000.

    I won’t retire when I hit $1,000,000, instead I will continue to grow and invest as ideally, I want to leave a legacy, help more people and ensure my children know the value of building an empire.

    I had a website called Aspiring Millionaire years ago, achieved millionaire status then had to use most of it in court against my ex and to get my daughters the help they needed (speech therapy, autism diagnosis, psychology etc).

    So I wiped it and revived the name for this new goal.

    How Will We Do It?

    Our first step is getting Mr. Aspiring Millionaire residency in Australia so he can work. Then clearing our debt while also investing. Shares, business and real estate are all part of our investment plan and plan to retire early. Our ideal retirement includes a lot of travel, being able to go between Australia, Vanuatu and the Solomon Islands, diving and continuing to do what we love.

    Most of our debt is interest-free so it makes sense to invest and gain interest/have shares increase in value/utilize compound interest now at the same time as clearing our debt.

    With our planning, we need to take into consideration a few cultural expectations. Being from Vanuatu, Mr Aspiring Millionaire is expected to assist his parents in retirement. For most people from Western cultures, this seems unusual. I knew about this before entering the relationship, so for me it’s not an issue. My parents are taken care of and wealthy, his parents have helped everyone they can, putting many kids through school, providing a home for anyone so we are more than happy to help them.

    It does add an extra layer to our planning and finances though. Currently, they are not retired so it’s not an issue but one day they will be and we will need to help.

    Real Estate

    Me Aspiring Millionaire has 3 properties but they must remain in the family and will be passed to our son. Right now, one has a rental property and the other two lands are used by the family. We both like real estate, know what we want and what we will do. But we want to build our share portfolio more first.

    Shares

    We previously had larger share accounts. Due to a series of unfortunate events which cost a fortune, we need to rebuild this. It’s easy to invest in shares. Right now, we invest small amounts using Spaceship and with the code S8ONS71M9X you can get a $5 bonus if you join for free here and invest a small amount.

    Business

    Over the years we have both been involved in businesses in different ways. Currently, we are building some online and we are 50% owners in one about to relaunch in Vanuatu. Business is something we love as you can expand it, have other people run it, create multiple incomes and you aren’t limited by your wage.

    What we WON’T be Doing

    We love our lifestyle so are not willing to give up much. Weekly date night, weekly family activity, travel, our hobbies such as diving etc. Our home is small so we don’t pay much to live where we do. The beach is a few hundred metres away as is the kids school and everything we need most of the time. So we spend in other areas that are important to us such as experiences.

    Cutting back and living off noodles is not our idea of a good life. Living super frugally is great for some and at times a necessity. It’s not for us and since he grew up in poverty and my mother died at 37, we are both motivated to enjoy our life as is.

    Did you Know that Doubling Your Money 20 Times Will get you $1,000,000 if you Begin with $1?

    $1 x 2 = $2
    $2 x 2 = $4
    $4 x 2 = $8
    $8 x 2 = $16
    $16 x 2 = $32
    $32 x 2 = $64
    $64 x 2 = $128
    $128 x 2 = $256
    $256 x 2 = $512
    $512 x 2 = $1,024
    $1,024 x 2 = $2,048
    $2,048 x 2 = $4,096
    $4,096 x 2 = $8,192
    $8,192 x 2 = $16,384
    $16,384 x 2 = $32,768
    $32,768 x 2 = $65,536
    $65,536 x 2 = $131,072
    $131,072 x 2 = $262,144
    $262,144 x 2 = $524,288
    $524,288 x 2 = $1,048,576

    If you start with $100, you only need to double it 14 times to get to $1,638,400. Obviously, in the beginning it is easier to double your money than it is at the end. That doesn’t mean it is impossible. I have just started dabbling in this a little again. My first was purchasing a book for $2 then sold it for $8. That’s more than doubling my money instantly.

    Alternatively, create something to sell. With a $1 profit if you sell 1,000,000 there is your $1,000,000. With a $100 profit you only need to sell 10,000. If you have a $1,000 profit per item, you only need to sell 1,000 of them. See how doable it can be with the right product or idea?

    Even more if you then invest the money you are making to either generate more business, buy shares or real estate. Always be looking for ways to make your money work for you. 

    How To Double Your Money

    To start with, I’ll be looking at buying items to resell. I’ve done this before with great success and have read a lot more about doing it. It’s been a while since I’ve done it, so it will be interesting to see how it goes.

    Later, I plan to flip websites then real estate. At the same time, I am looking at ways to start making money from nothing. For example, writing eBooks, creating courses, dropshipping etc. All those things can be created for nothing and sold with good marketing. 

    We also have some opportunities elsewhere through family we are looking into.

    Our entire journey will be shared on this site. You can also follow us on Facebook and Twitter.