Real Stories: Mel
What colour are you wearing?
Assets! I love the purple… it has highlights of pink, which I love!
What do you think is the biggest financial challenge facing women?
So many things! There’s definitely a stereotype that women are not interested in things ‘finance’, it feels like a man’s world. As well as the fact that women continue to have huge careers taker responsibilities that heavily effect income and career progression.
Who taught you about money growing up? Was it discussed in your family?
Mum and dad always reiterated to us that debt is a bad thing, unless it’s something making value like a home or some other investment. They never encouraged car loans and things that lost value. They always lived by the motto that money comes and goes, don’t get stressed over it, you’ll always be okay. These were huge lessons that respected. But other than that, I was never taught to budget, or save to spend money wisely.
At what age did you become financially independent?
Probably when I moved out of home at 18 and moved inter state. All of a sudden I had to figure out how to pay bills and rent and food. But I was never stressed about money, I some how just figured out a system that got me by, despite my shopping addiction, haha.
What advice do you wish you could have given your younger self regarding money?
Budget, save, don’t follow fashion trends, and no you don’t need a new iPhone everytime one comes out.
Do you feel in control of your money and spending?
Yes, only now that I’ve gained control over many years of just spending on useless things, and now that I have a mortgage, I’m more frugal, Becuase you have to be.
Do you have any stories of money regrets?
Of course, all the years of spending money on clothes and unnecessary consumer things. They gave me joy in the moments but I look back, cringe and think how wasteful it was.
“They always lived by the motto that money comes and goes, don’t get stressed over it, you’ll always be okay. ”
Do you worry about money?
Rarely, I’m aware it comes and goes, I know I will always have enough to get me by.
Now that you have entered the property market, any learnings or pearls of wisdom to share?
We had no idea what buying a home entailed, despite both our parents having done it before, their experience was irrelevant Because it was so long ago. Go direct to the source, speak to the experts, mortgage broker or your bank. Ask all the questions, even if you think the answer is obvious. After all, they give out free advice when you chat to them, it’s a no brainer. It’s hard work but It’s such a great feeling being a home owner.