Aussie Money Blog is a comprehensive personal finance blog in an Australian setting. This details the different ways to save money, make money, and grow your money. If there’s anything we need to be savvy with — it’s controlling our finances.
Who is behind Aussie Money Blog?
My name is Julie and welcome to Aussie Money Blog — the only money blog you’ll need (taking Barefoot Investor’s tagline). I started this blog because I always have a fascination with anything about money. It’s not about spending it — but how we can use it, control it, and ultimately make it work for us. My background is in Finance, which is naturally expected from me to be money savvy. But the truth is, I am not. More often, those who studied Finance or trained in Finance are the worst at managing their own money.
My mum used to tell me that one day I will be rich and wealthy. I believed her. But at the time of writing this About Me page, I still can’t call myself that I have reached that stage yet. My mum’s idea of “becoming rich” is being able to get a 9 to 5 job (in my case, a 9 to 9 job), climb the corporate ladder, retire at retirement age, and then I can enjoy life traveling and do anything I want after.
She retired at the age of 60. She got diagnosed with Liver Cirrhosis and tried to get cured and prolong the life span of her liver. After 5 years, she was in and out of the hospital. We lost her after she celebrated her 70th birthday.
And that is my wake-up call.
My goal is to be able to create wealth that will work for me, that will free up my time, so I can spend it with my family. You can call it Financial Independence, FIRE (Financial Independence Retire Early), FITR (Financial Independence Time Rich), or whatever movement that aims not to work anymore! This blog is a blow-by-blow account of my journey towards that goal and be able to share it with anyone who shares the same goal. I’ve already trained in Finance and have more than a decade of experience in managing other people’s money. Why not I manage my own money for a change? It shouldn’t be that hard.
What to expect from this blog?
1) Aussie setting
As the name suggests, this is a money blog in Aussie perspective. A lot of personal finance blogs are in US setting, which makes it hard to follow or apply in Australia. I also noticed that most of them were triggered by student loans. Aren’t we lucky we don’t have student loans in Australia? Well, we do have HECS-HELP, but it’s entirely different because that will not drag our lives to succeed because of hefty interest.
Another huge difference is the minimum wage in Australia compared to the US or to any other country. As of 1 July 2020, the national minimum wage is A$19.84 per hour or A$753.80 per week. In the US, the minimum wage is US$7.25 per hour or A$9.78 per hour. Contractors earn more than professionals in Australia. Plumbers earn more than doctors here. I’m not sure if this is a good thing or a bad thing – but it is worth writing it, and I’ll decide later.
2) Lots of numbers
Most of my decisions are backed up with numbers. I’m not lured by brand name or quality for that matter. This has backfired more often than I expected. Example is, I will buy a cheap winter coat online rather than invest in a stylish and durable duffel coat. That cheap winter coat will last only for one winter season.
Numbers don’t lie. I always remember my previous director’s quote to us whenever we present a business case, “Don’t put lipstick on a pig.” Don’t give him bullshit and give him numbers – to paraphrase it.
3) Excel spreadsheets and Google sheets
Yes – I’m one of those nerds who can navigate to Excel spreadsheets even without looking. I’m proud of possessing such skills that have brought to different paths in my career. It saved me most of the time.
You’ll see a lot of those here, especially when it comes to Budget and planning.
If you’re not a fan of Excel, I will also provide PDF templates that you can print out. I’m also a very visual person. I like tangible plans that lead to tangible success.
4) Personal opinion, personal experience and others
There is a reason why this website is called a blog–because it is more like a journal that records the sequential thoughts I have about money, which I want to publish and be available for public reading pleasures. These are therefore my personal opinions that are backed by my personal experience, my research, and other sources (which I will refer to or footnote as necessary). My views may not apply to your personal circumstances.
5) Productivity and lifehacks
If there is one thing that equals the value of money, it’s time. We work most hours of the day because we want to earn money. We want to invest in assets, because we want to buy time.
Time Value of Money I love using this term to anyone who asks me why I like investing. The simple explanation is–the value of your $1 today is not the same value tomorrow.
Productivity tips and lifehacks save us time. It will free up our time to do mundane tasks and spend it on something more valuable. You will get lots of those on this blog.
Again, thank you for taking the time to visit my blog. I hope that it will help you in simple ways to become savvy about money!