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Most people think it takes a huge effort to build wealth.
They think it’s built on years of sacrifice, massive lifestyle upheaval, and a semi-permanent state of deprivation.
Absolutely false. While an extreme approach can work, it’s definitely not necessary.
To prove it, I’m running an ongoing blog (and podcast) series – Making Big Money From Little Changes.
My goal is to give you an endless list of ideas, strategies and optimisations you can pick and choose from at your leisure – simple tweaks with large payoffs.
The end result is dozens of potential ways to amass millions of dollars over time, removing the ultimate excuse that it’s all too hard.
In my latest article, we look at four tweaks across housing, super, work, and food that are worth over $600k as a single, and over $1m for a couple.
Read: Making Big Money From Little Changes
STRONG MONEY PODCAST
For those of you who follow my new podcast and fanatically check for new episodes (thank you by the way!), you’ll know that my latest article is also available in audio as this week’s episode of Strong Money.
I’ll do this going forward for some of my posts, since I know many of you love listening rather than reading.
This series will be an ongoing theme. I’m aiming to build out a big list of all my favourite savings ideas, so that we can point people to the series.
Listen here on Spotify, Apple, or on my website.
AUSSIE FIRE PODCAST
In the latest Aussie FIRE Podcast, we dove into the following listener questions:
— Gold performance and it’s value as an asset class
— Weighing up further study for more income or sticking with a job you love
— Investing $10k for a newborn child
— Home loan strategies and whether to pay it off or keep it open for flexibility and borrow more to invest
— Concerns around AI ‘breaking’ markets, removing the need for companies to even list in the first place.
Fascinating topics – tune in if you want to hear us flesh these out.
Listen now on Spotify and Apple.
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THOUGHTS OF THE WEEK
In personal finance, those who never analyse where their money goes are usually the ones wasting most of it. The same is true of time. Those who question themselves and re-evaluate, are usually the ones using it wisely.
When you drive, the faster you go, the less you see. Life is the same. Slowing down leads to its own richness.
Almost nobody uses money for its most powerful purpose: creating personal freedom. Most people use it as coupons for dopamine – shopping, entertainment, drinking, eating and buying random crap they don’t need. All as a way to make themselves feel better for all the time they’re giving up to earn it.
PORTFOLIO UPDATE
We put a rental property on the market about a month ago, and it’s now Under Offer!
If all goes well, settlement is early next month – can’t wait 🙂
I’ll start working on a portfolio update, as well as explain our plans for what to do with the money (there are multiple options in play).
Even more exciting is that my mortgage broker reckons we’ll be able to refinance after that, which I’m really looking forward to.
We’ve been making hefty Principal & Interest payments for the last 7 years or so, and we’ll finally be able to go back to Interest-Only. This will free up even more cash for investing!
Speaking of which, my broker has been helping a bunch of readers this year with debt recycling.
If you want help setting it up, or anything else home loan related, feel free to reach out here.
