• Make Money

    How Will You Spend Your First Million?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Total: $1,000,000

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

    Manage Your Money Now

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

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

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

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

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

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

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  • Make Money

    4 Ways to Make $1,000,000

    How can you make $1,000,000?

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

    1. Save, Save, Save Until You Retire

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

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

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

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

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

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

    3. Business

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

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

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

    4. Inheritance

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

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

    How Are We Making $1,000,000?

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

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

  • Make Money

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

    Straight Up Cash

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

    Image of Australian money by Justin Saula of Black Beard Photography

    Disclosure: this post may contain affiliate links.

    $100 From ING

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

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

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

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

    Instant $20 From 86 400 (Online Bank)

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

    Instant $5 From Up Bank

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

    Get your $5 for joining in minutes.

    $10 BitCoin From CoinSpot

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

    $5 Bonus to Invest with Spaceship

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

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

    $5 Bonus to Invest with Raiz

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

    $20 Cash Back

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

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

    Discounts To Reduce Your Expenses

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

    $100 off HelloFresh

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

    $100 Off Marley Spoon

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

    $150 off EveryPlate

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

    $60 off Dinnerly

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

    Other Tips To Get Freebies, Bonuses and Discounts

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

    Sign up to their email list

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

    Add to Cart but Don’t Check out

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

    Social Media

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

    Tips to Help You Increase Your Net Worth

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  • Book Review

    The Automatic Millionaire: Book Review

    How to Become a Millionaire Automatically

    We are bombarded with images across social media of luxury cars, clothing and lifestyles, as if that is what a millionaire is. In reality, most millionaires are your regular neighbours who invested for the long term, stayed commited and lived below their means.

    Best selling author, David Bach, shares exactly how to do this and why it’s so simple in his book, The Automatic Millionaire.

    How Much Easier Would it be if you Could be an Automatic Millionaire?

    Whether you know much about stocks or business doesn’t matter. Consistency and compound interest will get you there with enough time. Start now by putting away extra each pay into savings or your retirement fund or investing into shares.

    It doesn’t matter if you only start with $5, the main thing is to start and be consistent. When you can save or invest more, do it. As your income grows, increase your savings and investments as well.

    If your work or the government matches your retirement investing or offers any bonuses, take advantage of them. While you won’t be able to access them until a certain age in some cases, it is free money and can help you grow your retirement funds fast.

    For many people, having the money where they can’t touch it helps a lot.

    The Automatic Millionaire Book

    It’s an easy read and you can implement everything he talks about quickly. Instead of being full of financial terms many don’t understand, it’s written in a way everyone can understand and enjoy. David Bach is truly passionate about helping people with their finances (we have met in person) and this comes across in his work.

    When you are starting your journey to learn more about finances and want basic advice which guarantees you will eventually get where you want to be, this book is it! It is a great starting book for anyone.

    How do you Automate?

    Being an automatic millionaire sounds great, right? It is easy if you are patient and stick to it. Automatic Millionaires have automated their investing to ensure they retire as millionaires. It does not mean you are going to a be a millionaire tomorrow.

    Look at all your expenses and how you can easily automate them through direct debit. You can do the same with saving, investing, retirement, all of it.

    Arrange for your employer to add extra to your retirement fund. Set up an automatic investment plan to transfer money to shares. Have your savings taken from your wage before it even hits your bank account.

    Once you have everything set up for success: retirement, investing and saving, learn to live off the rest. By living off the rest you are acting as if you have a lower wage than you actually do, enabling you to become a millionaire without trying.

    Would I Recommend Reading The Automatic Millionaire?

    Reading finance books can be motivating and keep your mindset on track. You know where you want to be and The Automatic Millionaire makes it easy. It is definitely a book I would recommend for beginners and anyone else looking for a little inspiration.

    Most of it might seem like commonsense but as we all know, commonsense is not that common!

    Get The Automatic Millionaire here.

  • Reselling

    How to Buy and Resell Dresses (My Second Flipping Challenge Update)

    How to Resell Dresses

    Part of our journey to financial freedom and becoming millionaires is flipping items. If you start with $2 and manage to double it 14 times, you will have well over $1,000,000.

    The first flip was buying a book for $2 and reselling it for $8 which you can read about here. With $8, I bought a dress for $7 which I knew I could sell for at least $20. Since there was $1 left from the first flip, I bought 2 books and sold them for $5 each.

    How I am Tracking my Flips

    I have a separate account for it with 86 400, an online only bank. You can get $10 as a sign up bonus with the code here. By having an account specifically for this, it is easy to track.

    $2 was my starting amount and whenever I have sold something, the money goes into this account. Anything I purchase to resell goes through the account so it is easy to track.

    I am also including them all on this page so the progress is easy to see.

    How to Make Thousands Reselling Dresses

    Clothing is something I used to flip a lot and plan to do more of. Obviously, I was working with a larger budget before but since I am doing this to double my money and track it, I will only be including what I buy specifically with this money.

    When I flip dresses or any clothing, I look for specific brands such as Cue, Review, Hell Bunny and similar. Any brand I know well. Previously, my preference was to stick to clothes my size or the size my siblings wore so if it didn’t sell they’d buy it usually.

    These are brands we like and I’d stick to either styles we liked or styles I knew for sure would sell.

    Where to Buy Dresses to Resell and What to Look for

    I tend to find them in second hand shops/thrifty stores/op shops. Check each item thoroughly to ensure all buttons and zips work, there are no pulled threads, tears, stains or other issues. Some are easy to get out, others are not worth it.

    Get to know the brands you want to sell, their styles for different eras and how much they are worth. If you know this, you can know common issues for example, invisible hems tend to fall apart easily.

    If you are good at alterations or repairs, you might get some great bargains where you can fix items quickly. Don’t get items that will take too long to fix because time counts. Taking 1 hour to fix an item you will only make $10 on probably isn’t worth it.

    But getting an item for $2 which only needs a minor seam repaired which can be done in 5 minutes and selling it for $70 is worth it. Yes, I did that.

    Image of a green dress hanging

    How to Price The Dresses

    Before I purchase, I check eBay for the sold listings to see how much they sell for. most of the time I have a good idea of how much items will sell for but incase I don’t, eBay gives a good idea. Look up completed and sold listings to see if the dress will sell.

    When choosing a price for your item, price it competitively once you know the value. eBay isn’t always great at giving a suggested price when you are doing your listing so ignore their suggested price. List the item at what you know it is worth.

    What I Sold

    I sold a basic Cue winter corporate style dress in size 8. Not something I would wear (I am a size 12) but something my daughter could.

    How to List Dresses

    When you are listing a dress for sale, the best options are to wear it if possible so people can see how it will sit or place it on a mannequin. An image of it on a hanger or laying flat helps see it for what it is.

    Take photos of the front, back and any defects as well as the tags. Photos of the tags prove brand, size and care instructions.

    Decide where you want to list or list in a few places. For example, buy sell swap groups for specific brands can be a great place to sell. As can eBay but eBay has fees.

    Be sure to take clear, well lit photos. How clear people can see the dresses makes a huge difference when it comes to whether they get purchased or not.

    Postage for Selling Dresses

    My preference is to post in prepaid satchels as they are easy to have a bunch on hand and you can charge a flat $10 for shipping. I aim to list within 24 hours of an item selling.

    What’s next for me?

    With this flip, I ended up with $30 ($20 from the dress and $10 from the books). This week I will be heading out to look for something I can flip and make at least $60 with.

  • Net Worth

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

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

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

    April Debts

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

    Total: $29,000

    May Debts

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

    Total: $24,857

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

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

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

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

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

    Increasing Assets

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

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

    Total: $673,928.85

    Our Total Net Worth: $649,071

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

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

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

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

    How we Increased our Assets

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

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

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

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

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

    Doubling Money to be a Millionaire

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

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

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

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

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  • Motivation

    How to Know Which Not For Profits to Support, How to Support Not For Profits and Which Ones we are Supporting on our Millionaire FIRE Journey

    3 Tips for Choosing a Charity/Not For Profit

    How do you decide which charities are worth it? It seems so many waste a lot of money on admin costs. There are costs involved in running a charity, obviously, but many of these costs can be reduced in various ways. Many suggest 10% of your income but what you choose to do is up to you.

    I’ve been on the board of directors for charities as well as being a marketing manager in others and involved as a volunteer on numerous campaigns to end homelessness and domestic violence. Over time, I’ve chosen to support both with time and money.

    Here are my tips to choose which charities to support, how to do it and who I support.

    1. Which Causes are Important to you?

    Previously, I did a lot around homelessness and domestic violence as I left an abusive relationship and ended up homeless with my two young daughters. As such, I was passionate about both of them. I still do some work but since travelling more and beginning a new relationship, the causes I want to support changed.

    2. Review Their Staff, Board and Expenses

    How much of the money you donate truly goes to the cause? Check their reports, annual statements and review how they do things. This will give you a good idea of exactly how much of your donation goes to where you want it to vs how much goes to salaries, building and other expenses.

    3. Look at How you Can Help

    Monetary donations aren’t the only way to help. Depending on how you want to help can also enable you to decide which charity you want to support. For example, some only accept money but others allow you to volunteer or donate goods and services.

    Which Charities/Not For Profits do we Support?

    Our focus is donating in the South Pacific, particularly Vanuatu and the Solomon Islands as that is where our family is and where Mr Aspiring Millionaire has spent most of his life. We still support a few in Australia at different times too though.

    Vanuatu Feminist Library

    I came across this library last year and can see the difference it makes in the community there. Vanuatu is quite a patriarchal country, education is expensive and many miss out. To combat this and help women become more educated, the Vanuatu Feminist Library stocks a range of books on numerous topics aimed at women.

    If you want to support the library, you can send books to:

    Lorna Silas Lekal
    Ph: +678 5411525
    Po Box 6027 Nambatri Area, Vanuatu

    Vanuatu doesn’t have zip or postcodes

    Mamma’s Laef

    Assisting women AND saving the environment is what excites me about Mamma’s Laef (pronounced Mama’s Life). Making cloth pads for women, cloth nappies for babies and masks when needed. Plus they run educational programs including one run by men for men about menstruation.

    Menstruation has traditionally been taboo in Vanuatu and many other countries in the South Pacific. Because it is not spoken about, some specific beliefs and traditions around it and the lack of hygienic supplies available on outer islands, women die.

    Mamma’s Laef is saving lives, educating people, reducing the waste from disposable products and changing their country. They are also supported by New Zealand. Find all the ways you can help as well as their social media channels here.

    Kiva

    We do business loans through Kiva because the money can be loaned again after it is repaid. I’ve been donating through Kiva for years and have found my loans in the South Pacific are repaid the fastest, meaning I can lend even more.

    Plenti

    This is slightly different but something that can help others. It is not a Not For Profit though as you will make a profit from it. Plenti is peer to peer lending like Kiva but instead of being focused on countries where lending is difficult, it’s for anyone. You also earn interest on these loans. Get $50 when you join and invest here.

    Pack For A Purpose

    When we travel, we support Pack For A Purpose where possible. This is where a business in the area will collect supplies for hospitals, schools and other needs in the local community. For example, in the Solomon Islands there are two businesses we support who do this: Dive Munda and Solomon Islands Discovery Cruises.

    Both of those businesses also have a strong focus on training local women in diving, hospitality and providing opportunities for youth as well.

    How you can Support Not For Profits

    Donating money is the most obvious option and usually includes a tax benefit if you donate over $2. Since we typically support not for profits overseas, we don’t get a tax benefit.

    Aside from money, here are a few other options:

    • Donate what they need. Some charities do call outs for what they need in terms of supplies.
    • Share their content. Follow them on social media, like, comment and share their content.
    • Participate. If there is a specific walk, run, bike ride, morning tea or event you can participate in, get involved.

    How did you choose the causes you would support and how do you support them?

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  • Make Money,  Reselling

    Our First Flip for Doubling our Money

    How to Buy and Resell Items

    I shared how doubling your money, starting with $1 can get you to $1,000,000 if you double it 20 times. One of the first things I did when I started looking for ways to make and save money years ago was buy and resell items. I quickly learnt where to shop, what to buy, where to list and which items were most profitable.

    What We Bought

    When looking for items to buy and resell, I wanted to start small to fit in the doubling your money concept and also to show how it’s done. I was at the second hand store and saw a copy of The Barefoot Investor for $2. I figured that was an ideal start for doubling our money.

    Image by Justin Saula of Black Beard Photography

    Where We Listed

    I bought it, took a photo on my phone then uploaded it to Facebook Marketplace. I had already checked how much this book was selling for on there and knew it would sell quickly.

    How Much and How Quick

    There were other copies on there being sold for $10 so I listed mine for $8 and it sold within a few hours. We met that night at the local shopping centre where I was going to do my groceries and I made $6 on that book.

    Managing the Money

    With flipping items, as the aim is to double our money, I set up a separate bank account for it. 86 400 is an easy to use online only bank which will give you a $10 bonus for signing up with the code S7VL6WF here. Having a separate bank account also means I have no issues giving out the bank details or using Osko/PayID for payments to make them quick and easy.

    Currently, there is $8 in there and I will be out this week looking for items to flip using that $8.

    What’s Next?

    I’ll be continuing finding items to buy and resell. There are so many opportunities out there, waiting to be explored. As we progress and the amount we have increases, it won’t just be items in second hand stores we flip.

    Previously, I did well buying and reselling websites, I’ve done it with cars and eventually want to do it with some real estate too.

    So the next few flips will be smaller items but soon we plan to be doing bigger items.

  • Motivation

    How to work out your WHY for Financial Freedom and Becoming a Millionaire

    9 Questions to ask Yourself to help you Determine your why so you can Achieve Financial Freedom

    Growing up, I thought it was so cool to meet a millionaire or aim to become a millionaire. As I got older, I realised the real goal is financial freedom through various sources of income. Rental properties, businesses and shares quickly became interesting to me.

    However, the pursuit of riches is generally an empty one. If you only do what you do to get rich, you will likely lose motivation. Instead, you need to work out why you want to be wealthy, financially free or rich and what that looks like to you.

    1. What gets you Going in the Morning?

    When you feel really good about the day, what is it that makes you feel good? Is there anything you truly look forward to doing or that lights you up? Make a list of those things.

    2. What are Your Core Values?

    Aside from basic human needs, we also have core values which drive us. These are things which dictate how we do things, decisions we make and what is important to us.

    For me, family first is a big core value and obvious to anyone who meets me. I structured my whole life around my family and am incredibly grateful to come from a large, supportive family. My siblings are my best friends.

    Soul Salt explains core values well and has 102 core values listed.

    3. How do you Want to be Remembered? What Legacy do you Hope to Leave Behind?

    When I was a wayward teen, I read about imaging my funeral or 80th birthday and what people would say about me. I wasn’t a terrible kid but knew I wanted to be better.

    Sitting down and writing out what I wanted to be remembered for helped define my life purpose and my why for doing what I do. It’s something I have revisited a few times over the years and helped when I was getting clear on my goals for financial freedom.

    4. How do you Want to Live Your Life?

    Thinking about how you want to be remembered is one thing, thinking about how you want to live and spend your days is another. What do you want to achieve in your life? Are there any experiences you want to have? How can you make those things happen?

    5. What Would you do on Your Ideal day?

    Your ideal day is…

    Take some time to write down exactly what your ideal day would look like. What is your home like, how and where do you wake up, what activities do you do, who is with you etc. Write it all down. Seeing how you want your life to be and how you want to spend your days can be a great way to solidify your why for chasing financial freedom.

    6. If you Could do Anything for Work, What Would it be?

    This changed a lot for me. Originally, I dropped out of school, worked for the government for a bit at 16 (office work was not my thing) then got a hairdressing apprenticeship. I thought I wanted to do hair and beauty but in reality, I was doing it because it was suggested to me so often and I liked the day spa idea.

    One day I’d still love to own a day spa and am grateful for my background in both hairdressing and more recently business and marketing. It was definitely not what I loved doing every day though.

    In my mid twenties, I switched to writing. Something I had always loved but was told I would not be able to make a living off it. A decade later and it helped pay for custody, my lifestyle and pretty much anything we want. It also enabled me to get paid to go on once in a lifetime trips and work around my kids so I could be there for them.

    Deep in your heart, what do you truly love to do and would do for ‘work’ even if you didn’t have to?

    7. What Does Wealth Mean to you?

    Being wealthy is different for everyone. Some people are happy to retire and live frugally because time is more important than money to them. Others want to retire with a fat wad of cash, assets and income.

    Define wealth and what financial independence looks like for you. Get specific with numbers, lifestyle and income streams as well as what age you want to retire.

    8. Happiness: What Makes you Happy and why? What Makes you Feel Fulfilled?

    Money on its own won’t make you happy but it sure can help give you a life you love. Ask yourself what makes you happy, what makes you feel fulfilled? What do you want more if in your life?

    Time with my family, travel, diving, new experiences and helping others all make me happy and feel fulfilled so I created a business around that.

    9. What is Holding you Back?

    What are your fears around money? What has stopped you from pursuing your goals or dreams? Often, when we dig a little deeper, we can uncover reasons we haven’t lived up to our full potential or have been scared of making too much, also known as money blocks.

    Learning about what has held you back or what you fears are can also help you work out your why. It can also give clarity on what you do and don’t want as you work towards financial freedom.

    What is our Why?

    Family and freedom. Being able to spend time with them, not having to put our kids into daycare so we could be the ones to raise them, being able to travel. All of these things matter to us.

    My mother died at 37 (I was 15), I’ve been paralyzed twice and had other health issues. It took 7.5 years to get full custody of my daughters from my abusive ex and it almost killed me financially, emotionally and physically. As a result of my life experience, I know how important and precious time with my family as well as my health is.

    For my partner, he was living and working in one of the least developed countries in the world when we met. He then had to spend some time unemployed as he couldn’t work in Australia. His why stems from being able to provide and have the lifestyle he always dreamed of. We both want lots of time with our kids and freedom to do what we want. Our family is our focus.

    What is your why? How did you decide on it?

  • Net Worth

    Our Net Worth – The Beginning April 2021

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

    What we Include in our Net Worth

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

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

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

    Our Assets

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

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

    Our Liabilities

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

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

    Total: $29,000

    Net Worth

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

    Plans For May

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

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