10 Small Habit Changes to Drastically Change Your Life
How you can Change Your Life with Small Habit Changes
After reading Atomic Habits and The Compound Effect, I became quite motivated to make some small changes and do some experiments with my current habits.
We have some terrible habits but getting the whole family on board feels impossible. So I, Ms Aspiring Millionaire, decided to do some for myself.
The idea behind Atomic Habits and The Compound Effect is essentially small changes e.g 1% at a time add up. The same as compound interest makes a real difference over time, so do habit changes and they don’t have to be big.
Too often we set out with the greatest intentions, overhaul our whole life, commit to 2 hours a day at the gym then within a few months we fail miserably. Or we pay ourselves last and never save or invest anything.
But if we make a tiny change and build on it over time, eventually, those small changes make a big difference. The small changes are doable. It doesn’t feel like a burden and it can be applied to every area of our lives.
Disclosure: this post may contain affiliate links.
1. Pay Yourself 1%
Generally, it is recommended we save at least 10% of our income, if not more. For many, this feels impossible. But what about 1%? If you’re paid $1,000 a week that means only $10 needs to be transferred to savings.
Surely, if you can live on $1,000 you can learn to live on $990? Transfer that 1% immediately and let it grow. As you get comfortable with that, make it 2% or $20, then 3% or $30. Eventually, you will be saving 10% or more.
I read about this in-depth in Profit First. If you are a business owner, Profit First is a must-read.
We adjust the rest of our lives and budget to that missing money. So pay yourself first.
2. Invest 1%
The same as paying yourself first, invest first. Start with 1% and build from there. You can invest as little as 1% on platforms such as Coinspot(get $10 free BitCoin when you join and invest a small amount) if you want to invest in crypto or Raiz (get $5 for joining) if you want to invest in shares. Commit to it and soon you will have a larger portfolio than you could imagine right now.
3. Do 5 Minutes of Exercise
It might not seem like much and it won’t make much of a difference in the beginning but you need to start somewhere. Squeeze 5 minutes of intense cardio in, do 10 squats before your shower or when heating something up in the microwave and you will quickly be doing more exercise than you thought.
Ideally, you’d commit to 30 minutes a day to maintain health but you have to start somewhere. Start with 5 minutes if you need then increase to 10 then 15 and so on until you are doing a full workout you want to do.
4. The 5 Second Rule
Mel Robbins is famous for this. Basically, make a decision and count down to make it happen. Instead of laying in bed all morning, countdown from 5, the same way NASA does then get out of bed! She has a whole book on how this can be applied to your life to snap you out of negative thinking and motivate you to make changes.
5. Ditch the Drinks
Whether it’s alcohol, energy drinks or a daily coffee it adds up. Not only financially but it takes it’s toll on your health too.
Go through your bank account and have a look at how much money you spend on drinks you want to reduce or quit. For me, it was a daily energy drink which is terrible for my health. There is literally nothing good in them but I was addicted hard.
To stop this habit, I decided to start transferring the amount I would have spent on the drink to a special savings account every time I resisted buying it. For a long time, I have wanted to buy a new rowing machine. I’ve never owned one and it is my favourite machine in the gym. Ideally, I’d love to have a full gym setup next year.
Once I started transferring the amounts, it added up quickly. That $2 to $5 here and there was $14 to $50 a week! Since I can’t use a rowing machine for a few more months, this gives me time to change this habit and save enough to get something I really want instead of wasting my money on drinks.
Side Note
If you struggle with addictions, there is help out there. Support groups, counselling etc. For alcohol, check out Alcoholics Anonymous.
6. Create a Morning Routine
Recently, I tried The Billionaire Morning Routine. As a mother of 4, pregnant, juggling business, real estate, studying and doing it on my own while Mr Aspiring Millionaire is in another state studying, it was a little tricky some mornings. However, it taught me a lot.
I used to always have a morning routine and it is recommended by every successful person I know. Getting up at 5am is working well for me. Getting time before the kids get up, doing some yoga, having my vitamins and smoothie, journalling and prepping for the day sets my whole day up.
With time to myself and some organisation, my whole day goes smoother, I am calmer and much more productive.
Check out The Miracle Morning for tips on your morning routine.
7. Get up Earlier
I used to sleep as long as I could because I struggled to get to sleep. A few habit changes and now I rise at 5am before my kids wake at 7am and it is amazing.
Start with getting up 5 minutes earlier and going to bed 5 minutes earlier if you have to.
8. Night Routine
Set up a night routine for success. Switch off devices 1 to 2 hours before bed and do not keep them in your room. Read, shower, brush your teeth and wind down so when you go to bed, you are ready.
I also like to do a ‘brain dump’. This includes writing in my journal, listing 3 things I am grateful for and having a list to dump all my thoughts or things I think I need to do. Getting it out of my head makes sleep much easier for me.
9. Set Your Most Important Tasks
I do this at the end of the day to prepare for the next day. Once I have finished any work or study or whatever it is I have done that day, I make my list of the 3 most important things for me to do the next day.
Having them written out gets it out of my head and means when I finish my morning routine, I am straight into the most important tasks for the day, often completing them before my kids are up which makes life so much easier.
10. Meditate
Use an app such as Balance to start meditating. I used to think this was one of those things people say they do to sound cool but it really does help. By meditating I sleep better and think clearer. Often, when meditating of a morning, answers I need come to me later that morning because I have had time to slow down, breathe and think.
What are some small habits you could change for success?
Net Worth Update November 2021: Increased by $1,612
How we Increased our Net Worth by $1,612 in October
It might not seem like much but any movement up is good. With the kids, pregnancy complications, a variety of paperwork and increased expenses, we are ecstatic we increased our net worth at all!
Disclosure: This post may contain affiliate links.
Starting Point
April 2021 we had a net worth of $649,071. This was comprised of a few debts reducing our net worth as well as property and some investments increasing our net worth.
Our Liabilities in April 2021
Custody debt $9,000
Visa debt $6,000
Personal loan $12,000
Cash debt $600
Cash debt $500
School debt $900Total: $29,000
Our Assets in April 2021
3 properties $600,000
Shares $250We had a lot to sort out in April 2021 to be able to work out our true net worth and some is still getting sorted but we have expanded and are happy with our progress.
Current Net Worth
Now we are able to track our businesses and a few other things better, our assets look different. We managed to clear some debt in May and in August paid $25,000 for a course for Mr Aspiring Millionaire. To do that, we did cash out some of our assets.
Our expenses are currently a lot higher than normal due to double rent, more on food etc since he is in another state while he studies. I am looking forward to January when expenses drop and he starts work.
Our Assets October 2021
Property: $600,000
Business 1: $120,000
Business 2: $ ?
Business 3: $4,500
Business 4: $10,000
Spaceship: $83
Coinspot: $1,280
Raiz: $89Total assets: $735,952
Our Liabilities October 2021
Custody debt $8,125
Residency visa debt $5,125
Personal loan $10,723Total debts: $23,973
Total Net Worth in October 2021: $711,979
How Did we Increase our Net Worth?
Spending less than we earn and investments naturally growing. It was that simple this month. We didn’t do anything extra to make money as we had too much else going on and we didn’t pay any extra off debt sadly. Only the regular payments.
Crypto has gone up and down over the month, however we are up from when we started. We use Coinspot and you can get $10 free BitCoin through our link.
Next Steps for the Rest of 2021
As mentioned in our last update, we have a lot of changes happening and need to ensure we start 2022 off well. Our family is growing next year making our current lifestyle impractical. We will have 2 teenagers living with us, a newborn and toddler plus if borders open and all goes well, we might have an 8 year old sometimes.
We live in a 2 bedroom townhouse which is tiny. The car is a small Corolla and while we love the area, the career Mr Aspiring Millionaire is currently training for does not have work opportunities where we currently live. So a move is likely either to another city or since his work will be offshore most likely, I may stay where we are.
But we would still need a bigger house.
The 14 year old needs Invisalign which is a few thousand and we want to clear the remaining debt asap as well.
So to prepare for 2022 and make the most of the last few weeks of 2021, here’s the plan.
Declutter and Sell Everything
It horrifies me how much stuff we have. Last week I sold a few items and took a heap to be donated. Yet, there is still more. Knowing what we want to keep and that when we move we will be buying other furniture means I will sell off what I can now.
Work More
Our 10 month old isn’t in childcare yet, however, high school finishes in a few weeks. I pay my 14 year old to babysit when it relates to work. At the moment, I am only doing my work on weekends and when my baby naps or at night if I have the energy.
Once school is out, this will change a little and I will be able to work more than I currently do to increase our income.
Mr Aspiring Millionaire completes his course in December and they have guaranteed jobs at the end of it. He might start as soon as he finishes or he might come home for Christmas then go. Either way, there should be more income soon.
Cash in Cans
We collect cans to cash in. Some are picked up when I go for my daily walk, others are from our own drinks. We don’t get drinks all the time, I prefer we drink water. But when we do, we save the cans and bottles to cash in.
Cash in Online Surveys
I have been banking these. Octopus Group is one of my favourites because they pay the highest. However, I do enjoy the USD from Swagbucks and PrizeRebel too.
$2 to Millionaire Challenge
We are still doing it, although I paused it while we travelled Tasmania and juggled some family matters. Sitting on $120, the next move has been decided but needs to be executed properly. It’ll be a BIG one to share when it’s completed though.
I Tried The Billionaire Morning Routine
How do Billionaires use Their Time to be so Successful?
A morning routine for me makes a huge difference to my day. When I don’t stick to my routines (which are doable no matter where I am), my mental health suffers.
Recently, I came across the Billionaire Morning Routine. Often, they come across to me as something only men who have a wife at home doing it all can do. Or someone already wealthy enough to afford a nanny/housekeeper to assist in getting kids ready in the morning.
My Situation: Pregnant, 4 kids, Business, Study, Everything…
As a mother of 4, who is also 6 months pregnant, these routines look ambitious. With teens, a 7-year-old stepdaughter who does not live with us, a 9-month-old AND Mr Aspiring Millionaire in another state, barely contactable for 4 months, I have a lot on my plate already.
I also manage all our finances, a couple of businesses, am studying, can’t get my son into childcare yet (on the waitlist) and everything else e.g. visa application, all life paperwork that needs to be done etc.
Having been a single mother of 2 previously, life feels like that again. Mr Aspiring Millionaire is not financially providing, I am. He is also unavailable for emotional support or anything else right now. We barely get to say good morning or good night. So, it is extremely similar to my previous single mother life, only with extra people I have to provide for and extra work to do.
What is the Billionaire Morning Routine?
The Billionaire Morning Routine includes:
Wake early
Recall your dreams
Make your bed
Drink a large glass of water
Take vitamins/probiotics
Meditate for 20 minutes
1 to 2 mins exercise/movement
A cold shower
Your usual get ready routine
Make tea
Journal
Write your to feel list
Write your to be list
Read for 20 to 30 minutes
Drink a brain food smoothieSeem like a lot? Some mornings it certainly felt that way. But at the same time, most of these were habits I already tried to implement in my life, not in this order though.
Image of notebooks. Text reads The Billionaire Morning Routine and includes the steps mentioned above. Wake Early
Most morning routines I see consist of people getting up at 4 or 5 am. I’ve never been a morning person per se but I am trying. Since the sun is up around 5 am now, I am waking naturally to it.
Some mornings, my son wakes too. As cute as he is, I do wish he slept those mornings until 6 am to give me an hour.
The key to getting up early is going to bed early too. Switch off screens an hour or two before you plan to go to bed. Have a wind-down routine so when you get to bed, you sleep easily. This is where I fall apart. My night routine is a mess but I am working on it.
Recall Your Dreams
Usually, I have the most vivid, wild dreams friends and family have ever heard. When I was younger I kept a journal to write in when I woke. I haven’t done this for years but now have one sitting on my bedside table.
The reason behind recalling your dreams is because our dreams are our subconscious processing things. Sometimes they can have meaning and help you work things out.
Make Your Bed
Making your bed first thing means you have already achieved something for the day. Another perk is every time you walk into your room it looks tidier and you are less likely to want to crawl back into it.
Ask my parents, this is something I have been hopeless with my whole life. Mr Aspiring Millionaire often didn’t have a bed so rarely made it either. Since my son sleeps in the cot next to the bed, I don’t want to make it and accidentally wake him.
Some mornings when he woke up with me, I did it before heading downstairs. Other mornings, if he was not awake, I did it later when he got up.
Drink a Large Glass of Water
Our bodies are mostly water. Overnight, we sweat and get dehydrated so need to refuel. Drinking a large glass of water is extremely beneficial for overall health and is super quick.
Being pregnant, I am encouraged to drink a glass for myself and a glass for my baby. My preference is to keep 2 glass bottles of water in the fridge (they are 800ml each) plus one with a herbal tea bag, totalling 2.4L I will drink throughout the day, sometimes more.
Plus, I have a separate glass for taking my vitamins. If I am active, I drink more as well.
Take Vitamins/Probiotics
Gut health is directly linked to overall health. Years ago, I was paralysed on and off for 7 months with level 10 pain. Meaning pain so intense I would blackout. It happened again in early 2017. I know it is connected to stress and gut health.
Vitamins and probiotics help with this. Foods such as kimchi, sauerkraut and other fermented foods have probiotics which I eat regularly. Taking pills and drinking kombucha also helps increase the probiotics I consume.
For other vitamins, I take Elevit for the pregnancy, along with iron and magnesium because my pregnancies drain that from me. Evening primrose oil and fish oil are two more I take which when I do it properly are great for my hormones and overall mental health.
Talk to your doctor or see a nutritionist or naturopath or other professional for advice before launching into a bunch of vitamins. Get a full blood test done to see what you actually need.
Meditate for 20 Minutes
Meditation clears your mind, helps you focus and often provides unexpected answers. Every single successful person I know practices it. It also helps you stay calmer which makes decision making easier.
This was possibly the hardest part for me to implement. I kept worrying my son would wake up or when he was awake, I couldn’t do it. Meditation is easier for me to do during one of his naps or before I fall asleep.
Personally, when I couldn’t do it, I found as long as I managed at least 5 minutes or did some yoga or EFT, I still saw the benefits.
1 to 2 mins exercise/movement
Get moving. Whether it’s squats and push-ups, a quick yoga stretch or star jumps, do something. Since I live in a 2 storey home, I am going up and down my stairs a few times. I also aim to do squats before my shower every day.
A Cold Shower
So many people struggle with this part. When we were in Vanuatu, we had no hot water. The same for the Solomon Islands. Coldwater doesn’t bother us too much although since being in Australia again, I refused cold showers.
Cold showers wake you up! I found it better than anything to wake me up and get me focused first thing in the morning.
My first morning I did not plan well since I needed to wash my hair, shave my legs etc. Which meant I would switch the cold on, get wet, turn it off, do what I needed, turn it back on and repeat that process.
Whereas when I have hot showers, I let the water keep running as I do it. So this saves money on water as well as helps me wake up and focus.
Your Usual get Ready Routine
Hair, makeup, get dressed, brush teeth, whatever you do to get ready of a morning, do it after your shower.
If I’ve washed my hair, I like to allow it to almost fully dry before finishing it with a dryer and brush to straighten it. So usually, I do half this routine, finish whatever else I am doing then dry my hair quickly before my teenagers go to school.
Make Tea
The process of making tea, if done with loose tea leaves is therapeutic for some people. Since I drink cold herbal tea, I tend to prep that bottle and pop it in the fridge for this step.
Journal
Journal your thoughts out, plan your day and focus on what you want in life. Goals don’t happen unless they are written down and acted upon. By writing them down, you are setting your mind to work to make them happen and confirming to yourself daily, this is what you will do.
With the Billionaire Routine, I began journaling morning and night. Nighttime journaling was reflective where as in the morning I was writing about what I will do and the life I want.
Write Your “To Feel” List
How do you want to feel? Happy, confident, productive, calm? Write it down.
Write Your “To Be” List
Along with how you feel and your other journal writing, what do you want to be?
Read for 20 to 30 Minutes
We learn so much when we read. Choose any book and read for at least 20 to 30 minutes. I always have a book with me and read it often. My aim is to read a book a week, always.
Drink a brain food smoothie
Brain food smoothies have berries, non-dairy milk e.g. coconut or almond and other beneficial ingredients such as avocado and spinach.
In mine, I add a scoop of collagen, a teaspoon of cinnamon and sometimes chia seeds too. If adding chia seeds, drink it quickly as they expand.
Image of notebook, pen glasses and coffee cup on table. Text reads The Billionaire Morning Routine, I tried it for 7 days. How Did I Go With the Billionaire Morning Routine?
With mixed results, I persisted for a while. It was not too different to my regular morning routine (when I got to do that) but I wouldn’t do it forever. I truly believe while it was beneficial, creating your own morning routine is more important.
Day 1
I threw up in the middle of yoga so that was less than ideal. With virtually no morning sickness during my pregnancy, this was unusual for me and I suspect it was simply not enough food, too much water and my vitamins making a bad stomach combination.
Because of that, I cut yoga short and got in the shower. That’s when I realised, I need to wash my hair, shave my legs and usually, I do a full body scrub on that day of the week. So I did it all, despite the cold.
That morning I managed to complete the routine, cold shower and all before my son woke up.
I felt great all day and could see why people do it.
Day 2
My son decided to wake up at 5 am which meant it took almost 2 hours to complete the routine, combined with taking care of him. I juggled doing the bits I could while feeding, changing and taking care of him.
This morning made me feel only those with a nanny or extra help can truly do this sort of routine. I felt a little defeated but the rest of the day went fairly well.
Day 3
I was exhausted. Again, my son woke at 5 am and my teens at 6 am. This morning was a mess as so much was going on and my son did not go down for a nap until 10 am. He was clingy, grizzly and when he finally dropped, so did I. I finished the routine at lunch.
Day 4
A hot mess is how I would describe it today. I was emotional, exhausted and barely got through the day, let alone being able to do the morning routine. I tried but it was a miserable failure today and I felt it by the end of the day.
Part of this would be the fact we returned from a trip only a few days ago and are still trying to settle back into a routine. This means, our sleep is all over the place. My stress levels go through the roof when I don’t get enough sleep, motivation falls off the face of the planet, I eat bad and it’s a vicious cycle because the next day is always worse.
Day 5
I did not even bother trying the routine this morning. I knew where I was at mentally and since it was my son who woke me, I just tried to get on with things as best I could.
I think this is the reality many mothers face when trying to juggle everything. Some days it simply becomes too much.
On the upside, while I didn’t get the morning routine done, I did finally get a block of time to work and sorted out a lot of other things. Including an evening routine, I know used to work for me.
Day 6
Again my son was up early making it harder this morning. However, I did what I could then headed out for 4 hours to work without the kids.
This morning, while journaling, I had an epiphany of sorts. It certainly lightened my load and made me see a clear path to obtaining what I want.
Day 7
Another day where it felt impossible. I gave up trying to get it done in the morning specifically and juggled a lot. The morning routine is not ideal for me but I do find incorporating as much of it as I can into my day is beneficial.
Image of berry smoothie. Text reads The Billionaire Morning Routine. I tried it as a mum of 4 running a business and studying! What Will I Keep Doing?
It was an interesting experiment. Overall, I can see the benefits of all of it and when I do have a solid morning routine, I am definitely calmer, happier and a better person. Problems are easier to solve, I feel healthy, I eat better and take care of myself.
However, this morning routine isn’t the one that made me feel or behave at my best. It is similar to my original morning routine and I will definitely adapt my routine having done that.
My Morning Routine
Wake with the sun. Since I don’t work outside the home and I am doing a better evening routine as well, I am asleep earlier in the evening and naturally arising around 5 am.
Recall my dreams in my dream journal which I keep next to my bed now.
Make my bed when my son wakes up. Glance around the room and do a quick tidy of anything if necessary too e.g. take washing downstairs.
Drinking a large glass of water will always be part of my morning routine. I don’t drink coffee so this is my wake up.
Breakfast of either a smoothie or a smoothie bowl or similar. Once I have had this, then I take my vitamins and probiotics. I can’t do it the other way around.
EFT every morning. Even if it’s only a 5 minute one, I will do EFT for whatever I feel inspired to in the morning.
Yoga which I use as part of my meditation. During my yoga I can often visualise the life I want, clear my head and heal from past hurts.
A cold shower I discovered wakes me up so I will continue with this. I live in Noosa, Queensland which is a warm climate. If I lived in a cold climate I don’t know if I could do it.
My usual get ready routine which includes a full dry body brush and 10 squats before my shower. Twice a week a full coffee body scrub. Every day I file my feet and massage moisturiser into my whole body.
Each morning and evening I do a skincare routine, brush my teeth and do my hair and makeup. At some point in the morning, I open all the curtains, windows and doors to allow fresh air and sunlight in. Then I turn on the diffuser to give my house the scent I love.Journaling every morning including my to feel and to be list. Along with drawing a self-care card for the day to focus on. Adding at least 3 things I am grateful for and 3 things I want to forgive.
Reading I do throughout the day and before I go to bed so I might not continue that in the morning for more than 1 page or 5 minutes.
What does your morning routine look like? Have you tried the Billionaire Morning Routine?
How I Doubled $120 (My $2 to Millionaire Challenge, Step 5)
What can you do to Double $100?
As per my challenge to double my money over and over until I get to $1,000,000, I just did step 5: doubling $120 to $240.
I was hesitant to share this one as it was a bit of an experiment and something many don’t view as serious. However, this experiment paid off for us. It is something I researched a lot before launching into it and it was something I have been looking at doing for years.
Doubling my Money so Far
As a recap, I started with $2 which I doubled by selling a book. Next was a dress flipped followed by a refer a friend offer. My 4th double was creating an eBook and now to my 5th.
To be clear, with this double my money challenge, I wanted to create streams of income. I didn’t want to just buy and resell things over and over.
With reselling, my daughters and I do it regularly and did before this challenge. It is something we find fun so have continued with that as an income stream. BUT we don’t continue to include the income in this challenge. It’s separate.
The eBook continues to make money with no effort from me. It’s listed in a few places but again, the income above what I needed to make to double my investment in creating it is not counted in this challenge.
I have only been counting the amounts I need to double then looking for my next income stream or way to double my money.
How did I Turn $120 into $240?
As mentioned, I was a little hesitant to post this but it has done so well for me. A few months ago, I started playing around on CoinSpot. I researched some of the crypto and chose which ones to invest in. You can get a bonus $10 worth of BitCoin if you want to try it here.
So far, ALL the ones I have invested in have increased in value beyond what I put in. BitCoin increased the most and my investment has doubled.
Personally, as with any investing, do your research! Investing blindly is the same as throwing mud at a wall and hoping some sticks. Research what you are investing in, how you are investing and be strategic.
How to Know What to Invest in?
I am not a financial advisor. On this site, we share what we are doing and most of the articles are written by me, Ms Aspiring Millionaire. What you choose to invest in is your choice OR get professional advice based on your specific circumstances.
Investing has ups and downs. You absolutely can lose money and at times, our investments have decreased in value. Since we are in it for the long haul, we are not worried.
What and how you invest will depend somewhat on your risk tolerance level. Mine is pretty high compared to Mr Aspiring Millionaire. I also grew up in Australia, surrounded by people investing in business, shares and even crypto early on.
My comfort level with these riskier investments is much higher than Mr Aspiring Millionaire. He grew up in Vanuatu where business was extremely difficult, he saw many fail. Shares, crypto and investments outside of real estate were not available.
Discuss Your Investments
My top tip for knowing what to invest in, is to discuss it. You and your partner need to be on the same page if you have joint accounts. If you keep your money separate, you still need to communicate about money.
Know what each others risk tolerance levels are, what you want for your future, how you will do it and seek professional advice.
Read books, listen to podcasts and learn together. Discuss everything as you learn.
Resources we Used to Decide on our Investments
Firstly, we discuss our childhoods as well as our hopes, dreams and what we wanted for our futures. Fortunately for us, we have the same long-term goals. The how has been debatable but we are definitely on the same page now.
To get there, we researched together and have weekly abundance meetings where we review our net worth and finances in general.
Books
The Simple Path to Wealth is one of the most popular books and really helped me explain Indexed Funds and investing this way to Mr Aspiring Millionaire.
Quit Like A Millionaire was fantastic for helping us understand each others backgrounds better. It also helped me understand the strong emphasis on education his family have. Currently, Mr Aspiring Millionaire is studying and when he is finished, he will be earning significantly more in his chosen career. It was a large upfront cost but will pay off in the end.
This book also helped show the importance of being frugal (we both grew up in frugal/poorer families but not the worst). Along with the value of investing young. Once he starts working next year, living off one wage will see our investments and path to early retirement skyrocket.
We Should All Be Millionaires is aimed at women but I found it useful for me to read and share what I read. Since it is about people of colour, includes a lot of statistics and advice, it was relevant to us.
Unleash Your Inner Money Babe was the first book we did together. While it is more geared to women aka babes, going through the 21 day challenge together was a great way to start discussing money.
The Big Leap is a favourite of mine. We read it slowly because it required a lot of thinking and some exercises. It will change how you do things and is not just about finance.
Podcasts
Manifestation Babe was one of our first together because we enjoyed Unleash Your Inner Money Babe.
ChooseFI has some interesting episodes we’ve discussed.
Chill & Prosper is a new one we are enjoying (we also like Denise Duffield-Thomas’ books)
The Strategy Hour is great for business too.
What is Next in my Doubling my Money Challenge?
I have a few ideas for these early stages. Two options involve websites: either setting one up from scratch and doubling my money quickly or buying one and flipping it. Both are things I have done before, both require time and money invested but can be done with as little as $100.
My intention is to cover both of these on this site at some stage. Exactly what I did and how I did it, so now is probably as good a time as any!
Image Bitcoin on phone, as coins as well. Text reads from $2 to millionaire. Doubling my money from $2 to over $1,000,000. Step 5: how I turned $120 into $240 You May Also Like
Doubling Our Money Challenge: $30 into $60
Net Worth Update October 2021
Our last net worth update was June. We stopped posting for a bit because of issues with family and the expectations based on what was being read. After a short break and some discussion, we have decided to continue focusing on our own plans.
Right now, a lot of our net worth is up in the air due to cultural issues with some of our land and business. This was something that was a concern of mine from the beginning and now it is all happening how I was worried it would.
That said, we have formulated a plan to forge ahead no matter what happens.
Image of laptop and plant on desk. Starting Point
April 2021 we had a net worth of $649,071. This was comprised of a few debts reducing our net worth as well as property and some investments increasing our net worth.
Our Liabilities in April 2021
Custody debt $9,000
Visa debt $6,000
Personal loan $12,000
Cash debt $600
Cash debt $500
School debt $900Total: $29,000
Our Assets in April 2021
3 properties $600,000
Shares $250We had a lot to sort out in April 2021 to be able to work out our true net worth and some is still getting sorted but we have expanded and are happy with our progress.
Current Net Worth
Now we are able to track our businesses and a few other things better, our assets look different. We managed to clear some debt in May and in August paid $25,000 for a course for Mr Aspiring Millionaire. To do that, we did cash out some of our assets.
Our Assets October 2021
Property: $600,000
Business 1: $120,000
Business 2: $ ?
Business 3: $4,500
Business 4: $10,000
Spaceship: $200
Coinspot: $833
Raiz: $71Total assets: $735,604
Our Liabilities October 2021
Custody debt $8,325
Residency visa debt $5,325
Personal loan $11,587Total debts: $25,237
Total Net Worth in October 2021: $710,367
How Did we Increase our Net Worth?
As you can see, the focus was on business for us. We own these and there is a lot we can do to increase their income and value. Right now, we are on a trip interstate but once back, we are looking at outsourcing more to increase our time which enables us to increase our income.
Business 1 had more marketing done and there was a special promotion which resulted in consistently higher income the past few months. This pushed up the value.
With number 2, as it is in another country and there are some issues, we can’t value it.
Businesses 3 and 4 are both online. We were offered this amount for business 3 this week and told a new online one we have started could go for $10,000 right now but we want to continue to build it.
Our eventual aim is to have multiple streams of income through real estate, business, shares and to create an empire for our kids. We want to enjoy life with them.
How can we do Better?
We spent more money on a trip than intended but through freelance writing and photography, we should be able to recoup those costs.
Mr Aspiring Millionaire is studying, not working. Once he starts working next year, it will change our finances drastically.
Ms Aspiring Millionaire has been slow on getting some paperwork processed which would result in a few thousand. Once she/I do it, that money will be put towards debt.
Changes for the Rest of 2021
With only 12 weeks left in 2021, it is time to buckle down. Having the course paid for is a huge relief for us. It was something we felt weighing on us as the cost was so high and it meant Mr Aspiring Millionaire still could not work. We had to decide if he would get a job or do the course.
The course means a much higher income and a guaranteed job once completed. It’s the specific career he wants to go into. It is 4 months full time in another state so work at the same time wasn’t practical.
Ms Aspiring Millionaire has some study to complete and is caring for 3 of the 4 kids while also juggling work and everything else. So childcare will be used soon along with possibly a cleaner. While this cuts into the budget, it frees up essential time.
For the rest of 2021, the focus is outsourcing, completing courses, increasing income, reducing debt and setting a solid plan for 2022. In 2022, we need a bigger car, will move house and a few other things which will cost more.
Our eldest also needs Invisalign which we plan to get now the football season is over. She plays football, is extremely rough with it and we didn’t feel it was practical to do it during the season.
$2 to Millionaire Challenge
We are still doing it, although have paused it while travelling and juggling some family matters. Sitting on $120, the next move has been decided but needs to be executed properly. It’ll be a BIG one to share when it’s completed though.
10 Passive Income Ideas
How to Make Passive Income
Millionaires typically have 7 income streams. Since no one can work 7 jobs, you need to look at other options. It’s about working smarter, not harder. Be smart with your time, find ways to generate income with little or no effort and you’ll find your net worth increases much easier.
Passive income is income you generate with little or no effort. Often you need to spend some time and money upfront but once it’s ready, it can make money easily for you, even in your sleep!
How I Make Passive Income
Personally, I’ve been working on passive income for years and it is something we are now working on as a family. Our current passive income includes:
Book royalties, blogs which don’t require me to work on them to make money, shares, business, eBooks, rental properties, stock photos and peer to peer lending.
That said, while we technically get an income from these, most of them get reinvested. For example, dividends from shares/stocks get reinvested. Rental income is being saved to develop our property portfolio further.
In the future, we will be focused mainly on business, real estate and shares.
Image of money and a plant. Text reads 10 Passive Income Ideas. Photo by Justin Saula of Blackbeard Photography 1. Digital Products
Anyone can be an eBook author on Amazon or similar now. If you have your own site, you can sell your books on there too. I have eBooks listed in a variety of places so get royalties each month from Amazon, direct payments from my site and royalty payments from my publisher too.
Digital products are great because you can make them once and sell them for years. Two of my eBooks are over a decade old.
Two other digital products include printables which you can sell on your own site or sites such as Etsy and courses which is another option popular among bloggers and influencers.
2. Book Royalties
In 2010, a large business publisher saw an article I wrote and wanted to turn it into a book. We did this and there was an extra eBook created from one of the chapters. For years I collected royalties on the print book then I negotiated the rights back.
However, I still collect royalty payments for the eBook AND since you get payments as an author in Australia for anyone borrowing the book from the library, I get paid for that too. I forget about it until I get the email every few months.
It’s a nice surprise which I can invest immediately into shares or crypto.
3. Rent
Being a landlord is not always as passive as it is made out to be. Repairs, dealing with tenants or property managers, late rent or similar issues can chew a lot of your time.
However, if you are fortunate enough to have one managed well by someone for you, all repairs etc taken care of and the money simply put in your account, it is a great passive option. This is where we are at.
Our properties are overseas and taken care of by family there. The money is split, they get some and some is saved for us to develop the property. Since they live in Vanuatu, the income they have is pretty low and the rental income helps put family members through school, ensuring a brighter future for them.
Airbnb is a popular option for many as well. Since people can self check-in, you have rules and can have a cleaner for between bookings, for many, it is pretty passive. I (Ms Aspiring Millionaire) have previously done quite well with Airbnb.
Renting a room in your home can be fairly passive. Whenever we’ve done it, we were usually lucky enough to get people we know. Rent/board was set up to be paid automatically and since we come from big families, it didn’t bother us to have extra people in the home.
As a single mother (previously), having a boarder reduced my workload as they also helped clean at times.
Lastly, renting out the garage. Other than handing over the keys, this has always been a passive option. The garage has been used by people to store items, run a business or store a car. Each time, payments were automatic and I barely saw the person using it.
4. Shares
Invest in index funds, learn and invest in specific shares you want or look at micro-investing to get started. Before investing, take some time to learn. Too many people invest blindly then lose money.
The sharemarket goes up and down but if you have a longterm view, reinvest and don’t plan to use the income (dividends) until retirement, your portfolio can continue to grow nicely.
Spaceship is one microinvesting option which you can get a bonus $10 with. Use the code S801FV0EE2 when you sign up and invest a minimum of $5 within 14 days.
Raiz is another option which offers a $5 bonus. Be aware both have monthly fees now though.
5. Advertising on Your Car or Fence
With a newer car, you can be moving advertising for any business. They pay for a car wrap or magnet to be placed on your car. This works best in cities and if you drive a fair bit or your car is parked somewhere with a lot of traffic.
If you live on a busy street, some businesses will pay you to have signage on your fence as well.
Both of these don’t require effort after the initial set up. But be aware it can damage paint.
Image of plant, phone with calculator app open, Australian $50 notes and a notebook with pen.Text reads 10 Passive Income Ideas. Photo by Justin Saula of Blackbeard Photography. 6. Affiliate Marketing
We do this through our websites and it forms a significant part of the website income. It’s easy enough o set up a website, market it well then outsource it to make money without your input.
Affiliate marketing is where you get paid when someone buys something through your link. Many sites are set up as Amazon affiliate sites or similar. It’s a way to sell or promote items without having to have them in stock.
Some of our best affiliates involve food and finance items.
7. Ecommerce
Build a website (The Thrifty Issue has a simple guide on it) and either sell your own products, do dropshipping or do affiliate marketing as mentioned above.
Dropshipping is a hugely popular option as you can design and create products but not have to stock them. They are sold through your site and shipped directly to the customer without needing a warehouse.
8. Silent Business Partner
Partner in a business without being one to make all the decisions. You can either set up a business and be a financial partner or buy into a business. The businesses we own are split between us being active partners and one where we are silent partners.
9. Stock Photos
Sell your photos on sites such as iStock. Since we travel and take numerous photos for the marketing work we do through our travel, selling stock photos is a great side option. Once uploaded, we make commissions when they sell.
We do not upload our best, only generic style ones we don’t care about.
10. Peer to Peer Lending
We’ve mainly done this as a charity option but if you have a decent amount of money, you can start doing peer to peer lending through various websites. We have just started with Plenti and will share our experience with that soon.
How do you make passive income?
$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 in 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 – $147
I cashed out my cashback programs today. $147 cashback total between Cash Rewards, Honey and Shopback. Some of this is my own spending, some referral bonuses.
Day Eight – $4,000+
Yesterday I listed something for sale which should get around $4,000 to $5,000. Today, I am negotiating with a few interested buyers. This may or may not be finalised within the 10 days but I am including it.
Day Nine – $0
Today I went for a hike down where there is limited reception. I had no time to even think about way to make money, list anything for sale or do anything else.
Day Ten – $0
Returning from the hike and time with family meant another day of nothing.
Overall, while I didn’t get all the cash in the 10 days, I did generate $10,000 so I am happy with that. Maybe next time, I’ll be able to get the money all in the 10 days.
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. You May Also Like
How I Lost $1,000,000
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!
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?
