• $10,000 in 10 Days

    $10,000 in 10 Days Challenge

    How Can You Make $10,000 in 10 Days?

    After reading We Should All Be Millionaires, I was inspired to try the $10,000 in 10 days challenge she sets. When I decided to do it, I had no idea how it would work. With a baby who was teething and completely unsettled, teens, study, work and so much else on, it felt like a lofty goal.

    Amazingly, within 10 days I got 2 payments totalling over $10,000! Both were unexpected but welcomed.

    Because of the success the first time, I decided to do it again. Only this time, I made it public.

    Last time, I had no doubt I could do it even though I had no idea how. Whenever I feel that way, live with that completely confident mindset, everything falls into place. If I have doubts, it fails.

    Image of Australian money with a plant and a laptop.

    What Can You Do?

    When you’re looking at making money, one of the best things you can do is have a brainstorming session. In this session, write down all the ways you can make money, even if they seem ridiculous at the time.

    Once you have your ideas, work out which ones feel the best to you, which excite you and which you will actually follow through on. Focus on them. Here are some ideas. Remember, it doesn’t need to be $10,000 from one thing, although that can be nice.

    Make $10,000 Buying Things to Resell

    I listed a few things today and used to make thousands a month doing this. In fact, when I was dedicated, I made over $10,000 a month doing it. There is a guide on how to make $10,000 a month buying things to resell which can help.

    My best items are $1 to $2 pieces of clothing from second-hand stores which I can resell for $50 on average, sometimes more. Websites, I’ve bought and resold cars, photography equipment, books, collectables. Anything I know about and know I can make a profit from, I’ll try.

    One time I bought some jewellery from a store when it was closing down. I tripled my investment with that one.

    Rent or Boarders

    I’m going away and can rent my place for $1,200 for the time I am gone. Other times, I have made $1,300 in a week doing this and when I had boarders they usually paid $250 a week rent which meant I made well over $10,000 in a year from it.

    Have a clear contract in place and interview thoroughly if you do have a boarder.

    Your Services

    If you have a business, can you increase prices? Is there an extra service you could provide? What about creating and selling a course or book or doing presales for something. Brainstorm how you can use what you have to generate more without much work.

    Instant Cash Offers

    Banks often offer cash bonuses for joining. Up has $5 instantly when you join here. 86 400 offers $10 with the code S7VL6WF here that you get once you use the card for the first time. CoinSpot gives $10 worth of BitCoin when you invest $10. Spaceship offers $10 when you use the code S801FV0EE2 here and invest.

    Online Surveys

    They won’t make you rich, however, have you checked your accounts recently to cash out? Octopus Group is the highest paying one in Australia. PrizeRebel pays in USD.

    Check all your online survey accounts and cash out those you can. during these 10 days, I cashed out $720 with Octopus Group, PrizeRebel and Swagbucks. Every bit helps to get to $10,000!

    Freelance Writing

    One of my favourite ways to make money has been freelance writing. I see loads of opportunities for new writers as well as better paid opportunities for experienced writers.

    Facebook groups has been my best source of getting freelance writing gigs and by spending a couple of hours pitching, I often secure $2,000+ worth of freelance writing when I want to.

    Domestic Chores

    Cleaning, gardening, mowing lawns, ironing, babysitting or any domestic style work is often high in demand. It will take a while to get to $10,000 but is still income.

    Airtasker

    Some of the tasks I have done took only a few minutes for $50. You really need to sort through but those odd jobs pay within a few days and you can take on as many as you’re accepted for.

    Money Hunt

    Check all your VIP and reward programs to see if there is anything you can cash out. Look for refunds and rebates you can cash in. If you are a member of any cash back programs, check them too. Cash Rewards gives a $10 bonus, as does Shopback. I use both for all my shopping by comparing and using the one with the best cash back offer at the time.

    Go through your home, car and everywhere to look for cash. Under your lounge, under appliances, in pockets, purses, the console of your car etc. You’ll be surprised at what you find.

    Unexpected Money

    I have learnt to be open minded when it comes to where the money can come from. Most of the large amounts of money I have received when doing challenges like this have not been from my work. Referral bonuses, small inheritances, unexpected cash gifts, refunds etc have all added up to thousands of dollars.

    None of those I could have planned for but they all made a big difference. Be open to money flowing to you instead of focusing only on what you can do.

    Other Options

    Check out 99 Side Hustles for a huge guide on ways to make money, how to get started, different options you have and how to market them to make more money.

    What Am I Doing?

    I’ll share my daily updates below. In the next 10 days (today being Day 1 which is Sunday, 19 September 2021), I am going away which limits my options. I can’t list as much for sale as I normally would because I won’t be here to post or meet if I sell anything. That doesn’t mean I won’t be able to do it.

    Day 1 – $1,200 Renting Out My Home

    Since I am going away, my place can be rented out. I’ve done this many times before through Airbnb. Living a few hundred metres from the beach in a popular tourist spot this time makes it even easier. There is also a significant housing crisis here so no shortage of people needing a place to stay.

    I could rent it out for more but wanted to help someone who is currently trying to secure a rental instead of renting to a holidaymaker. Having a solid home for a few weeks will give them some breathing room to focus on getting a place.

    This feels better to me ethically given the situation where I live right now because I have been homeless before.

    How to Rent Your Home out

    Airbnb is my preferred method because if anything goes wrong, there is help, insurance and a security bond. Facebook groups or friends and family are also great ways to find someone to rent your place. Unless it is someone I know, I will always create a listing on Airbnb and send the person the link so they can book and I am covered.

    There are fees associated with Airbnb but I feel it is worth it for protection. If I had a regular holiday rental, I would have it managed by a real estate here.

    Look up how much homes are going for in your area. Clear your home out of personal items and your valuables. Take a video before you leave of everything so you have proof of how it was before you left.

    Create a welcome kit. I usually have some chocolates, basics such as milk, bread, butter, some nice items from locals and sometimes a bottle of wine, depending on the length of the booking. I also have coupons for the local area with a guide on things to do, the public transport etc.

    Make sure your entire home is spotless. Provide all the necessities including toiletries, cleaning supplies, linen etc. People are critical!

    Think of how you would want a holiday home presented and make your home be the same.

    Day Two $455

    Today I unexpectedly sold a device of ours. I say unexpectedly because I had not listed it for sale yet. A reader of another site of mine emailed asking for advice on second-hand devices for Vanuatu as my partner is Ni-Vanuatu and we have spent lots of time there. I gave advice and said we were about to sell this one if they were interested.

    They were and it worked for everyone.

    $55 came from referral bonuses.

    I also spent time today pitching for freelance writing but due to a 2 hour medical test and helping a friend, my time today was limited. Still happy that my current total is $1,655 in 2 days!

    Day Three $10

    A sick baby, teenagers needing stuff and not much time meant I could barely think about my $10,000 in 10 days challenge today. I got $10 from a referral bonus through my cousin but that’s it.

    We did drop some things at the second-hand shop to clear the clutter. Whenever I clear out the clutter in my life, it frees up my headspace to be able to focus and I needed that. Whilst there, we picked up a few items for $1 to $5 to resell for around $50 each.

    Day Four $95

    Today I flew to Tasmania so my day was spent driving to Brisbane, at the airport, in the air then getting settled. I managed to sell a few things online still but it was not a hugely profitable day.

    Day Five $2,500

    On the first day, I pitched some freelance writing gigs and today confirmed some. They might not be paid within the next 5 days but they will be paid promptly. It all fell into place unexpectedly as they are on Tasmania, where I am now and would not have happened if I wasn’t here.

    Day Six $720

    Originally, I was going to wait until day 10 to cash out from my online surveys but because of a slight error with one, I decided to cash them out now. Online surveys are easy to do when you are waiting at the doctors, waiting in line to pick up the kids or sometimes at the grocery store.

    All those little pieces of time where you are bored and scrolling Facebook you can now make money with!

    The three sites I cashed out wereOctopus Group, PrizeRebel and Swagbucks.

    Day Seven – Coming Soon!

  • 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.
  • $2 to $1,000,000 Updates

    How to Create an eBook

    5 Steps to Create an eBook

    I set myself a challenge to double my money repeatedly, starting with $2. After doubling it 19 times, I would have over $1,000,000. The latest thing I did to double my money is create and sell an eBook. This can be free to do or if you want it to be a little more professional and don’t have all the skills, you might need to enlist some help.

    You can find other posts on doubling my money here.

    Image of eBook reader, glasses and notebook.

    How I Turned $60 into $120

    Stage 1 was using $2 to buy a book which I then sold for $8. Next, I used the $8 to buy a dress for $7 and 2 more books at 50c each. Together those items sold for $30.

    With the $30 I used a refer a friend code and Facebook ad credit to generate $60 almost immediately. This ad generated more than $60 but I am sticking to $60 here for ease of tracking the doubling method. So I am focusing on the doubled amount only.

    Turning $60 into $120 had me a little stumped at first. The goal is to double the money each time but for some reason, in my head, I was stuck on buying things to resell to double my money. But that isn’t what the challenge is. It’s just finding a way to double your money.

    Multiple Streams of Income

    As I have gone along in this challenge, I had decided to look for ways to create multiple streams of income with it as well. So each stage can, in theory, continue to generate more money even after I doubled the original amount. With the first two, it is about buying and reselling. My 14-year-old has gotten right into this too.

    Since I found some items we’ve sold successfully before, we decided to continue with buying and reselling on the side. Most things only take a few minutes to list and so far, she is doing well with Lego and clothing. I am doing well with books and clothing.

    Create an eBook

    To turn $60 into $120, I decided to create an eBook. I know this will continue to generate income even after the original double to $120. How much it costs to create an eBook depends on your skills, what you are willing to do and where you sell it.

    If you are skilled, you can write it, create the cover art and promote it for very little. I’ve written eBooks before (check out my eBooks here) so it was easy for me to create and promote this. The $60 was spent on promotions and again, within a short period, I made $120.

    Next month, I will be actively doing a lot more to promote it and have a goal in mind for how much I can make with this one.

    How to Create an eBook

    I’ve written and sold numerous eBooks over the years. Some got the attention of the News which made for great sales. Ideally, when writing an eBook you need a marketing plan as well. It’s not enough to write it and hope millions of people buy it. Marketing and PR are essential to get your book out there and generate sales.

    Here are my tips for creating and making money from an eBook.

    PreLaunch

    Check there is a market for the book, get people interested and promote it before you launch it. Do guest posts, line up interviews, send out press releases and generate hype around the eBook before you go live.

    With the prelaunch, you can sell it before you’ve even written it but ensure you have enough time to complete it, edit it and get it all ready before you do. Doing this generates income to enable you the time to create the product.

    Create The Book

    This is stating the obvious – create the book. Write it yourself or outline it and get a ghost writer to write it for you. Format it for wherever you decide to sell it, ensure you obey all copyright laws and aren’t stealing content from anywhere else.

    Create a great cover or pay an artist to do it for you. Put it all together and your book is good to go.

    Upload to Selling Platforms

    If you have a website, you can sell your eBooks directly from it through WooCommerce and similar. They have an add to cart feature making it easy. You can use external platforms such as e-Junkie and you can list on Amazon.

    When I launch an eBook, I typically have it available on all platforms and if Australians could have their books on Audible, I’d do that too.

    Promote

    Launch day is here! Continue to promote your book. Look for any opportunity you have to mention it, get into media, do guest posts, be on podcasts, host sessions in Facebook groups, everything.

    To be honest, with this last eBook, I didn’t do all of this and have had too much else on my plate that I let it slide. I still made sales because I have a platform elsewhere and a great audience.

    I know my sales could be much better and as of next month, I will focus on promoting a lot more.

    Now that’s done, onto the next stage of doubling: turning $120 into $240!

  • Culture,  FIRE: Financial Independence Retire Early

    How to Manage Cultural Differences with Money

    What do you do when your Cultures Clash over Finances? What is Bride Price, Compensation and Custom Fees?

    Mr Aspiring Millionaire comes from Vanuatu and Ms Aspiring Millionaire comes from Australia. They met in the Solomon Islands and Mr Aspiring Millionaire has a daughter there to his ex-wife. Ms Aspiring Millionaire has 2 daughters to her first marriage who are part Tongan and part Maori. That’s 5 cultures with financial differences to be taken into account and managed.

    So how do we manage issues such as Bride Price which is extremely important in Vanuatu and Solomon Islander cultures but non-existent in Caucasian Australian culture? Or the fact children are expected to financially support their elders in his cultures while in her culture, the parents leave an inheritance and support the kids. What about the expectation we support the family in the islands because we are considered wealthy?

    Here I’ll share some of our experience then tips to help you navigate cultural differences when it comes to finances.

    The Rocky Road to Settling our Cultural Financial Differences

    Juggling multiple cultures and needing to be respectful has caused a few issues. Ms Aspiring Millionaire was aware of some but not all. She was also unaware how important some were to Mr Aspiring Millionaire, such as Bride Price. To her, it was a dated practice about ownership which she had no interest in participating in. For him, it is about thanking the parents for raising the daughter well and showing he is capable of providing. Not paying Bride Price would be an insult to him and shameful to his family.

    While Ms Aspiring Millionaire had some understanding of Islander culture (which does vary country to country and even from village to village in those countries). She was not fully prepared and some has been difficult to manage. On the other hand, for Mr Aspiring Millionaire, the attitude towards money in Australian culture took a bit to get used to and understand.

    Numerous discussions about culture, goals and expectations took place before meeting kids and taking the next step in the relationship. That did not stop the various issues and blocks along the way.

    Image: Caucasian woman, Asian man and their son in their lounge. Text reads how to manage cultural differences with money.

    Some of our Major Financial Differences

    A few have been mentioned but there were 5 major cultural differences when it comes to finances we had to work through.

    Bride Price

    This was dismissed by Ms Aspiring Millionaire immediately as being Australian, she assumed it was not applicable. Mr Aspiring Millionaire didn’t say much because Ms Aspiring Millionaire had such a strong view on what she thought Bride Price was about.

    She thought it was the man buying the woman (and in some cultures it is as well as some men assuming bride price means they own the women). However, in Vanuatu it is thanking the family for raising the woman. It was extremely important to him which only became clear the more serious marriage was discussed.

    Because Ms Aspiring Millionaire also had no desire to remarry, so it wasn’t going to matter. Over time though, because Mr Aspiring Millionaire did want to marry, the discussions shifted.

    Education and understanding was key for dealing with the differences around Bride Price.

    Supporting the Parents and the rest of the Family

    Ms Aspiring Millionaire had assumed some level of support would be required since the options for retirement are limited. There are no pensions, no welfare and hardly any retirement funding available in the islands. Children are expected to support their parents and family.

    If you happen to get a good job or live in another country, you are also expected to send money home, pay for schooling and other things if you can. The expectations were more than Ms Aspiring Millionaire was aware of. In her culture, the parents supported and helped the kids. If she needed money, she could get an interest free loan from her parents. They also gifted money when they visited or would buy gifts, items for babies when born and help where possible.

    This is not to say Mr Aspiring Millionaire’s family don’t do any of that. When in Vanuatu, his parents take care of everything, they got new furniture for the front two rooms so when we visit we have our own space. They let us use the car whenever we want, take us to the family-owned beaches and Mr Aspiring Millionaire has inherited nicely because of his family.

    White Are Wealthy/Being Used For A Visa

    This was a big issue for both sides. White people are assumed to be wealthy but usually assumed to be Beverly Hills wealthy. They are wealthier than Ni-Vanuatu and Solomon Islanders but not to the level assumed. On top of that, a relationship between someone from those countries and someone from Australia is usually assumed to be done for a visa, that the white person is being used and played.

    We faced opposition from both sides of the family until they met us in person and saw how happy we were, how our relationship was much more loving and supportive than our previous marriages. Friends who were there when we met and had spent a lot of time with us already knew this but our families didn’t and they were cautious.

    Given the history of both countries, the amount of people who have been used for a visa and the blackbirding trade (where Australia stole people from Vanuatu, Solomon Islands and many other nations to be slaves on plantations), the fear is understandable.

    Compensation

    In the Solomon Islands and some other island nations, if you do something wrong, you have to pay compensation to the person you wronged. This was hard for Ms Aspiring Millionaire to understand, she was not in a position where she ever wronged someone and had to pay. But it did cause them to be careful in each country.

    Females Do Not Inherit

    This one took a lot for Ms Aspiring Millionaire to understand or be ok with. In Vanuatu and many parts of the Solomon Islands, only the men inherit. The women are expected to be taken care of by their husbands. They can own their own land if the work and buy it themselves but they will never inherit it.

    Even if it was put in a will, the customs would override it and the lands taken. This is why a son was crucial for Mr Aspiring Millionaire. The family needed someone to inherit the family’s wealth, otherwise it would go to another family.

    A compromise with this is the son will inherit the custom lands in Vanuatu, the daughters from Ms Aspiring Millionaire’s first marriage will inherit property and business in Australia. While the daughter in the Solomon Islands cannot inherit, options for her are still trying to be worked out so as not to offend either culture and not to be lost to other families. It’s way more complicated than most families.

    Image of man of colour kissing hand of woman of colour. Text reads how to manage cultural differences with money

    How to Manage Financial Cultural Differences

    Communication is key. Being clear about what is important, discussing it all with an open mind then deciding what is best for your family is essential to making this work. Financial issues are a leading cause for divorce. Throw in cultural differences and it becomes a million times harder. Here are some tips.

    Determine The Lifestyle You Want

    If you are clear on the life you want, you can create a plan to make that happen. When working this out, you need to include career goals, property, essentials for the families to be culturally sensitive, hobbies, who will stay home with the kids or if you both work and have a nanny, all of it.

    Discuss your childhoods so you have a clear idea of what was normal for each other and what is within your comfort zone. Share your dreams and the lifestyle you want. Write it down and compare. Do this early, before kids, before marriage and before committing too much.

    Once you are committed, if you haven’t had these discussions you might find yourselves on completely different paths and it is much harder to compromise at that point.

    Decide together the lifestyle you want.

    Be Clear About Your Cultural Expectations

    As mentioned, Mr Aspiring Millionaire expects to pay Bride Price, he expects to support his family and participate in any cultural matters. Ms Aspiring Millionaire expected to provide for herself and her immediate family only, not everyone.

    Boundaries had to be put in place around the cultural expectations and how much could be catered to so both were satisfied and respected. This could only happen once all expectations were put on the table to be discussed.

    Work Out What The Deal Breakers Are

    Some cultural expectations might be easy to let go of for one partner others might be total deal breakers. If there is a cultural expectation that is a deal breaker for you, be honest and state what it is and why it is a deal breaker for you.

    Doing this early in the relationship enables you both to decide if it will work or if it is something you will fight about forever.

    Communicate With An Open Mind

    When discussing finances and culture, do so with an open mind. No one’s way is the right way. Each tradition or expectation has merit and cultural importance so don’t dismiss or belittle any of them. Discuss them all with an open mind, be understanding and if you don’t understand something, ask questions in a non judgmental way.

    Being non judgmental makes it easier for the other partner to open up and share their culture, values and beliefs. If you are judging it, pushing your way or viewing your way as the only right way then communication won’t work.

    Compromise

    Now you have a clear idea of the different cultural expectations, what the deal breakers are and the life you want, work out your compromises. You might be ok with accepting all of it or you may need boundaries in place.

    A few examples of ours:

    Bride Price: Ms Aspiring Millionaire’s parents are uncomfortable accepting money when they are so wealthy compared to Mr Aspiring Millionaire’s family. A compromise from them was the debt Ms Aspiring Millionaire owes them can be paid by Mr Aspiring Millionaire as the Bride Price.

    Plus a piglet named Kevin. No joke! One of Ms Aspiring Millionaire’s sisters asked if that could be done at the Bride Price ceremony and Mr Aspiring Millionaire laughed but said that is easy, we can do that.

    Money to Family: Mr and Ms Aspiring Millionaire pay child support to his ex-wife as agreed when they did child custody. Education is important so paying for a cousins degree, paying for the daughter to get a good education and budgeting for the nieces and nephews to attend school is all included.

    Also, planning for businesses and growing them to support the family through retirement instead of simply sending money. This compromise grows wealth without being a handout.

    Females do not inherit: as mentioned, the son will inherit custom lands but other property and wealth can and will be inherited by daughters.

    How do you manage financial cultural differences? What are some considerations for your culture?

  • Uncategorized

    We Should All Be Millionaires: Book Review

    We Should All Be Millionaires is a Must-Read Book for Everyone

    With BIPOC daughters, this hit home for us. We Should All Be Millionaires provides an incredible mix of statistics, history and advice. The world is changing and thank goodness it is. We are better positioned than ever before but too many women are underselling themselves, undervaluing themselves and still carry the bulk of the work in the home.

    Here is what we learnt and loved about We Should All Be Millionaires by Rachel Rodgers.

    Disclosure: this post may contain affiliate links.

    Broke Ass Decisions vs Million Dollar Decisions

    Every day we make multiple decisions. They might not seem like much but each one will either take us closer to millions or further away. What is a Broke Ass Decision (aka BAD)? Doing everything yourself instead of outsourcing. Choosing not to push for a pay rise, choosing not to negotiate your wage, putting others needs before your own, building your partners career instead of your own etc.

    For years, women have been made to sit on the sidelines, do everything and taught they need to support their husbands/other people instead of focusing on themselves. Because of this, many of us feel uncomfortable or selfish for going after our own goals, building our own career or business and putting our needs first.

    How many men do you know that stop to think, should I do this? Or who put their partners career and lifestyle before their own? They are few and far between. More often than not, the woman is juggling it all while trying to build her life. As a result, many of us make Broke Ass Decisions because we don’t see our value or we were taught being a stay at home mum/helping others/putting others first was more important.

    You deserve to have a career and live a life you love. Whatever your goals and dreams are, you deserve to pursue them.

    Struggling With Outsourcing?

    Mr and Ms Aspiring Millionaire were both raised in heavily religious homes where the woman is supposed to have the babies and care for them. Constantly being told it is our responsibility to “multiply and replenish the earth” aka breed like crazy. As well as women should be stay at home mums, men are to provide etc. It made it hard for us to see a different way.

    Interestingly, the idea of having a housegirl (someone to help) is common in Vanuatu. Mr Aspiring Millionaire grew up with that but the cost was tiny in Vanuatu and the Solomon Islands compared to Australia. For Ms Aspiring Millionaire, the pressure to be the one to raise the kids and be a stay at home mum was intense. She was single for a long time and the sole provider for her kids but still had the pressure to do it all and be there for them consistently.

    Rachel Rodgers helps blow this out of the water. By outlining how expensive it is to do everything yourself, it was an eye-opener for Ms Aspiring Millionaire. While she has outsourced at times, she always felt guilty, especially when it came to the kids.

    How to Outsource and Why You Should!

    In We Should All Be Millionaires, Rachel Rodgers lists all the things most stay at home mums do or most women do around the home and the value. Most homes have an extremely uneven share of household responsibilities. When you are responsible for thinking about and doing everything from cooking and shopping through to all the appointments, managing anything that needs to be fixed as well as the cleaning etc. You end up emotionally, mentally and physically drained.

    Being in that state does not allow room for growth. How can you do your best at work or in your business and grow the family finances if you are wiped out from doing everything.

    Household manages get paid upwards of $100,000 a year. Where we live, a nanny would cost $30hr, more for overnight. Personal chefs, cleaners, gardeners all cost. This is the value of a stay at home parent (usually mum). But what if you flipped it?

    Ms Aspiring Millionaire has a high earning capacity. Because of the pressure to be the stay at home mum and be there for the kids, she has never worked to her full potential. A few years ago, she did outsource and got help with childcare, cleaning and gardening. This help enabled her to run a company, increase her income, save and be able to provide.

    Having that financial stability ensured the time spent with the kids was quality time.

    Outsourcing frees up your time and mind. With more time, you can earn more and you can spend more fun time with the family. It isn’t selfish or stupid. It’s essential.

    All wealthy families outsource what they can such as cleaning, gardening, some child care, ironing etc.

    List the tasks you don’t want to do then start outsourcing them.

    Dream Big

    We loved the examples of self made millionaires. Having watched Madam CJ Walker’s story on Netflix, the Aspiring Millionaire kids were already motivated. We Should All Be Millionaires has more examples of self-made millionaires but especially ones who are people of colour.

    There is no reason you cannot dream big and work towards it. If you are reading this, you were probably born in the USA, Australia or the UK. You were born into privilege and have more options available to you than most of the world. So use your privilege and improve your life. Dream big. You deserve it!

    Image: Cover of We Should All Be Millionaires and Book Review

    What we are Changing as a Result of We Should All Be Millionaires

    Mr Aspiring Millionaire spent his first marriage working, doing the bulk of the cooking etc while fully supporting his wife’s career. Her career came before anything else and she was away for up to a year at a time studying and pursuing her goals. He is one of the rare ones in this sense.

    Ms Aspiring Millionaire achieved great success as a single mother. Her first marriage was abusive, she was not allowed to have goals, dreams and grow. Upon leaving, she changes drastically. During the custody battle, which took 7.5 years, her ex husband used her career and success against her in court, causing her to shrink again.

    Together, Mr and Ms Aspiring Millionaire have the same life goals. They each have their own careers they are pursuing and do what they can to enable each other to reach their goals within those careers. Housework such as cooking, cleaning etc is split fairly evenly but every now and then, too much falls onto Ms Aspiring Millionaire’s shoulders.

    So here is what is changing as a result of this book.

    Proper Work Time for Ms Aspiring Millionaire

    Having always worked from home, the proper work hours were not always outlined. Instead, Ms Aspiring Millionaire squeezed her work in around everyone else. As a result, her income stalled. Now, set hours have been established and the kids have been informed not to disturb her.

    A Nanny/Help Around the House

    We are looking at hiring one in a few months. If we were in Vanuatu or the Solomon Islands, we’d have one already. Once Ms Aspiring Millionaire goes to full time work hours, child care options will be employed so she can work. Our youngest is only 5 months so we aren’t moving on this immediately but it is a definite and is being budgeted in.

    Family Calendar

    A Google calendar was set up with the meals, who is cooking, date nights, family activities and everything else. This has reduced what Ms Aspiring Millionaire has to remember and reduced the amount of questions about who is doing what and when. All family members can see from their own devices when Mum is working, when different sports are happening, what family activities are planned and when friends might be able to come over.

    More Defined Goals

    Our goals are clear with some things such as the next step in careers, the dream home etc. However, some of it was wishy washy. Now, we have clearer goals for every member of the family and a more even split with responsibility for various tasks so we can all achieve our personal and family goals.

    Overall

    This is one of the best finance books we’ve read in a long time. It gave us the kick up the butt we needed to make changes, it educated our daughters and is a book we would recommend to everyone. Check out We Should All Be Millionaires and let us know what you think.

  • Uncategorized

    How to Live with Champagne Tastes on a Beer Budget

    With luxury lifestyles pushed in our faces all the time, it is easy to assume the super wealthy have an incredible lifestyle and to crave it. Often, we blow a lot of money keeping up with others or producing and Insta perfect lifestyle.

    We all know these lifestyles are mostly unrealistic but it doesn’t stop us striving for it or thinking it is what we want. So if a champagne lifestyle is what you want but feels out of your budget, here are some tips.

    Disclosure: this post contains affiliate links to books we love.

    Decide What You Really Want

    What about that lifestyle do you want? Is it the clothes, the shoes, the bags, the cars, the travel, owning a boat or the freedom to spend on whatever you want whenever you want?

    Often, when we look a bit deeper, the things we really want aren’t what everyone else has. But if you do really want those specific things, there are ways to make it happen. It’s easier if you are super clear on what you want though.

    In the Aspiring Millionaire home, we want freedom. The freedom to travel when we want, go everywhere, own a boat and sail around the world, dive, hike and experience life. We want to spend this time with our family, create great memories and do the things we want.

    Secondary to that, is a specific home we want and a few cars. Mostly, it is a fun lifestyle we want and live.

    It’s not bad to want these things. All you need to do is create a plan to make it happen and go for it. We Should All Be Millionaires shows you how and why.

    Image: Champagne bottle in the clouds. Text reads how to live with champagne tastes on a beer budget

    Look for Ways to get it for Free

    Now you know what you want, how can you get it for free? Competitions are one way, provided you check they are legit. Lots of people have tried becoming influencers to get free stuff, without realising the work they’d need to do and how to be a good influencers.

    Check for loyalty programs which might offer the products as a reward or enable you to get things for free. This applies especially to travel. With numerous credit cards offering travel points and other ways to travel hack, you can travel for free.

    Since travel is a priority for us, I went into tourism marketing so we got paid to travel. Mr Aspiring Millionaire does photography so we can create packages for clients. We both dive, have kids and can provide unique perspectives because of our backgrounds.

    Going out with our family and experiences are important so we have looked for free fun such as hiking and the beach, festivals and events that are in our area and make time for these.

    How can you Make Money from it?

    Whether you get it for free or not, why not think about how you can make money from it? Being an influencer is one way but not the only way. Freelance writing where you pitch articles to magazines and websites about it is one option.

    I’ve travelled various parts of Asia, Europe and the South Pacific as a travel writer. Trips were all paid for and I made money from articles I wrote. Plus on most trips, I secured other clients and ongoing work which enabled me to make even more.

    Another option is to rent out your place and car while you travel. Or even if you want to live in a specific area, can you do it in a group home or by renting out a room? With a specific type of car, you might be able to rent it out either through share programs or if it is top end to photographers and media for use in their images or video.

    Learn Delayed Gratification

    Right at this point, you have a limited income (but that can change) so you need to be realistic. Delayed gratification is how you do it. Decide what you want, learn about the law of attraction then put it out there. Instead of buying everything you want immediately or going into debt, you will acquire the lifestyle you want through other means.

    Write everything you see that you want on a list. In 30 days, if you still want the things on that list then you can move them to your vision board or work out a way to afford them by budgeting for them. If not, remove them from the list.

    Image: person holding champagne glass on country road. Text reads how to live with champagne tastes on a beer budget.

    Law of Attraction

    I am a huge believer in the law of attraction but I don’t believe it is simply about thinking and hoping. You need to take some action, however, you’ll be surprised at what can come.

    Most of the trips I wanted came through using the law of attraction. I healed from an abusive marriage and met my now partner through it. Smaller things such as getting paid to get my dive certification, go horse riding or winning awards as well.

    I worked out what I wanted, created a vision board, put it out there and jumped on opportunities as they came up.

    How do you use the Law of Attraction?

    Firstly, learn about it. Unleash Your Inner Money Babe and Lucky Bitch are two great books to get you started. Both have great exercises you can do to open your mind about your options and use the law of attraction.

    Facebook groups, podcasts, YouTube and Instagram are full of resources for the Law of Attraction. The more you learn and apply the easier it becomes and the more your life will shift from beer budget to champagne lifestyle.

    For us, meditation, visualisation, a vision board and regular discussions with each other have helped. Mr Aspiring Millionaire and I spend time visiting land we want and picturing it. We discuss our dream home in Vanuatu (we have the property picked and the whole family talk about it as if it is already ours). These little habits and lifestyle tweaks have enabled us to be focused and have opportunities others don’t.

    Find A Balance

    Too often people completely deprive themselves for the future they want and completely miss living in the present. Or they go the other way, blowing everything right now as if they don’t need to save for tomorrow.

    Once you decide what you want, create a plan to get there and a plan to live your life now. We could save and invest faster if we gave up certain things others view as luxuries such as occasional dinners out, family activities and travel.

    However, our kids are only young once. Family members have passed away young. Life is for living. So find ways to do what you want within your budget or for free and do them. Live your life while saving and investing for your future.

    How to do you live on a beer budget when you have champagne tastes?

  • 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?

  • Uncategorized

    Time vs Money: How to Know What to do

    Time is Money because Money can buy you Time

    Most of us feel we are pulled in multiple directions all the time. Balancing work, family, health, finances and other commitments can seem almost impossible. We have a limited amount of time so how can we decide what is worth our time and how do we reject things that aren’t how we want to spend out time?

    How to Put a Price on Your Time

    Deciding what your time is worth is more than picking an hourly rate for work or your services. Everything you do takes away from something else so you need to use your time wisely. Do you really want to spend all your time chasing money and never seeing your family?

    For us, family comes first. This means, I have passed on a lot of money at times because it was not worth my time. My time is valuable. I want to enjoy my life anf ensure I spend it doing what I love. So how do you put a price on your time?

    How to Determine Work Value

    If you work in a job, your salary is set by your boss usually. This does not mean you can’t negotiate though. Before you are hired negotiate for a higher rate if you believe you are worth it. Try for extra vacation time or other benefits if they won’t budge on the actual cash amount. There are numerous ways to get more for what you do.

    As an employee, don’t wait for them to give you a pay rise, seek it out. Prove you are worth it and deserve a rise. No business will pay you more than they have to sooner than they have to. Look out for yourself and get the pay you deserve.

    Also, discuss wages. Check your contract as more companies are putting clauses in employment contracts to ban the discussion of wages. Open discussion of wages ensures people get paid properly.

    How to Determine Self Employment Value

    Do not undersell or underprice yourself. Being self employed means you need to calculate in taxes, retirement, holiday and other leave, the cost of running business, your time and skills. Too many people undercharge because something is easy to them. People are hiring you and paying you because you have what they need. Your skills and knowledge are valuable.

    For self employment, it is preferable to charge per project, not per hour. One of the reasons being as you get better, you get faster. If you’re charging per hour this will mean you are doing more work in a shorter time frame so making less money per project as you grow. This does not make sense!

    But some like an hourly rate to use as a base to work out a per project rate. If you choose to do this, use the formula below but as you get faster at your work and better, double then triple your rates and keep moving up.

    Formula for Self Employment Rates

    1. Work out how much you want to earn a year. E.g. $100,000.
    2. Add retirement, tax, business expenses such as site hosting, insurance, design, advertising, courses and events you want to participate in, self-care etc. This likely brings your $100,000 up to $150,000.
    3. Work out how many days you will be working and it’s not 365. Start with the 365 days in a year. Remove weekends (104 days), public holidays (11 in Australia), holidays (20 days if going for the 4-week standard) and sick leave (10 days is standard, however, allow more if needed). This brings you down to 220 days.
    4. Work out how many hours a day you can actually work. Most mums I know have school hours only, this means 5.5 hours max (after school drop off and pick up) or 1,210 hours a year for the 220 days they can work.
    5. Divide $150,000 by 1,210 hours and you get $123.96 per hour. Let’s round that up to $125
    6. Charge accordingly! If you charge $200 for an article that takes you 1 hour to write, you are in front and that is great. If you are charging $200 for an article that takes you 3 hours to write, you are behind. However, if your goal is less or you can work more hours this changes.

    Image of flower, paper, coffee and clock. Text reads Time vs Money: how to know what to do and how to value your time and services.

    Time Vs Money

    What do you want more of, time or money? In our family, we have specific goals both for time with family and activities we enjoy as well as the income we want for that lifestyle. Finding that balance can be tricky but it is worth it.

    One thing that helped us, when we wanted to buy some random thing, we’d calculate how much time it would cost. Using the hourly rate about for our time or our hourly wage, it is easy to see how much something truly costs. For example, we went through a stage where we blew a lot of money on takeaway. When we added it up, it was hours of work wasted PLUS more than the cost of a weekly dive which we had not been doing because we didn’t feel we could afford it.

    Our spending did not match our values or desire for life. Seeing how much time we wasted working to pay for that junk hit home. Next time you go to waste money, calculate how long you have to work to pay for it and what else it is taking away from.

    How To Say No

    No is a complete sentence. Too many people struggle to say no. Even if they do say no, they feel they need to provide reasons why. You don’t owe anyone a reason. It’s your life and if you don’t want to do it, don’t. Within reason of course. If you work and your boss tells you to do something you can’t really tell them no without a reason.

    Stop doing everything for everyone. Stop saying yes to all the extra things you don’t want to do and take your life back.

    Think About the Life you Want

    One of the best things we did to help us change our habits and value time more was to truly think about the life we wanted. We have 4 kids and want them to have great memories. Diving, travel, hiking, experiences and fun are important to us. Every week we have a family activity and we do date night.

    Our dream home in Vanuatu is chosen as are our businesses and other elements of our ideal life. Images of these specific things are on our devices and walls. Constant reminders of why we do what we do and what we want in life enable us to make better decisions.

    For us, it is about living in the moment, enjoying family time and creating memories while establishing wealth to help our kids and all our family back in Vanuatu and the Solomon Islands.

    What about you? Time vs Money, how do you manage it? What do you want your life to look like?

  • 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.

  • Book Review

    Quit Like A Millionaire Book Review

    Why you need to read Quit Like A Millionaire

    Everyone I know has dreamt of winning the lotto, becoming a millionaire, quitting their job and living the life they want. Instead of dreaming about the lotto, why not make it happen for yourself? This is exactly what author, Kristy Shen did and she shares how in Quit Like A Millionaire.

    Disclosure, this post may contain affiliate links.

    General Thoughts On Quit Like A Millionaire

    The basis is Kristy Shen’s life story mixed with finance tips. A poverty stricken background, emphasis on education, good career, extreme frugality and investing wisely are all outlined.

    We quite enjoyed it but I suspect that is because the background was so familiar. Most of what Mrs Aspiring Millionaire has read and applied previously was all focused on the law of attraction and manifesting. Quit Like A Millionaire is the opposite of that. For her, it was an interesting take on scarcity mindset and how far that can get you.

    Mr Aspiring Millionaire found it extremely relatable because of his background.

    Quit Like A Millionaire Story

    Mr Aspiring Millionaire comes from Vanuatu, which was one of the least developed countries in the world at the time. Kristy Shen grew up in China in absolute poverty. For Mrs Aspiring Millionaire, hearing Kristy’s backstory, the early years, the emphasis on a good education, not wasting anything and a frugal mindset explained a lot about Mr Aspiring Millionaire and his family.

    Mrs Aspiring Millionaire grew up ‘white poor’ which is a far cry from the definition of poor in which Mr Aspiring Millionaire grew up in. In fact, one of our daughters (Mr Aspiring Millionaire’s daughter from his previous marriage) is growing up this way. She lives in the Solomon Islands, without electricity, running water (they go to the river for water), many neighbours live in dirt floor shacks etc.

    Hearing about Kristy’s upbringing, the things she did to make money such as hunting through the tip to make toys and the huge emphasis on education is common in island nations too. They simply do not have the resources available to most in countries such as the USA, Australia and most of Europe.

    Live Frugally

    With a background of poverty, you hold onto everything and live extremely frugally. Every small item matters and you mentally calculate how much an item e.g. a toy really costs. As in, that toy could pay for education back home. Kristy describes this and my partner’s family have done similar.

    Education Is Key

    Get the best education you can to secure the highest pay you can. The higher the pay, the more you can invest and the sooner you can retire. In countries such as China, Vanuatu and the Solomon Islands, getting a good education gives you options. You can get a visa to live elsewhere and send money home to help the family.

    Education has a huge emphasis in these cultures. Not only education but specific careers. It’s not about following your passion. Earning a high income to provide is more important. If you earn well, invest wisely and live frugally, you can live how you want for the rest of your life instead of constantly grinding on the corporate ladder.

    This part hit home as Mrs Aspiring Millionaire grew up with the luxury of being able to do pretty much whatever career she wanted. And change career or jobs as she pleased. Plus the capacity and opportunity to do various side hustles. As such, she quit school due to personal issues in year 11 and has done a variety of jobs but always made a good income.

    Mr Aspiring Millionaire did not have the same opportunities and worked his butt off in shipping then diving. Both careers were taxing on his body and meant he was away from his family for long periods. Now, since the family is mostly in Australia, earning good money, assisting family back in Vanuatu to get educated is important.

    Avoid Debt

    All finances books focus on this. Growing up in China and being an immigrant family to the USA, Kristy outlined how strict this advice was. Avoiding debt is crucial to having the life you want. Going into debt is simply stealing from tomorrow to pay for today.

    Instead of having money to invest, you are stuck in a cycle of borrowing and it costs you a lot more. In the USA student loans are excruciatingly expensive. Australia has a different system. However, many students go into debt in both countries for degrees they might not use or are not clear on. Or the “follow your passion” mantra is more important than career stability.

    On top of the student loan debt, is the cost of living going through university and often a car loan. By the time most students finish their degree, they are starting life with extreme amounts of debt. Higher than other generations have ever faced.

    Instead of going into debt, look for ways to pay for your education, work and start your career debt free.

    Invest

    Make your money work for you if you ever hope to retire. It’s not enough to simply live frugally, save and hope. The cost of living continues to rise plus, who doesn’t want free money?

    While I won’t be following the investment advice she outlined, I did like the fact she shared what she did so others can follow or opt to learn more.

    You can get Quit Like A Millionaire here.

    What did you think of Quit Like A Millionaire?