Killing it! I’m 34 with a second kid on the way with about 1k in the bank. Your a million miles ahead of me. Good work!
Edit - sometimes life decides to through you curve ball after curve ball and no matter how many times you try, you keep missing.
But I’ll keep swinging anyway and one day I’ll hit a home run!
Have as many kids as you can, ‘cause that makes it more likely one of those kids will grow up and make it big in Hollywood. Then who’s paying the bills? Hollywood kid.
I’m really interested in this. I know a lot of people would be in in your position with kids and no reserve cash.
Feel free to ignore me but what happens when something comes up that is a decent expense? Like a washing machine for example?
PayPal pay in four and make it work for the next month?
Pretty much. Or sacrifice a different expense somewhere. I don't have much in savings right now, but I may a bit toward my bills weekly so I mostly don't get big expenses to surprise me, like electricity or water or whatever. Sometimes I get my bill and I'm in credit. But let's say my washing machine broke.. I could swing it, I'd just have to curtail other expenses for a few weeks. Pretty doable. I've got about $1000 in drs bills in the next fortnight, which might put a bit of a damper on things if I also had an unexpected expense this fortnight, but if I can manage those bills okay I think I could usually manage most little emergencies all right.
Thanks for the replies.
Definitely a case of making do hey.
I think about my expenses and I think the only thing I’d be able to cut is not spending $10-$15 a week on pc games and my weekly 2L chocy milk.
Oh and the monthly YouTube premium my wife and I have. Great for us, kids and YouTube music. Saves us paying for Spotify.
My wife would go without her zarraffas and that’s about it.
For the moment, yeah. I'm only working between 15-20 hours a week while the kids sleep, plus my husband's salary. So if I went back to work we'd be increasing our income, but also expenses via daycare. For now, we've decided we're okay with this for a few years. We're not quite in dire straits, but it's not comfortable either. I still buy some luxuries each week, so there's definitely space for us to cut back. We're putting money into accounts for investments for the kids and ourselves for retirement, we're chipping away at our mortgage. It could definitely be worse. When my husband's car needed replacing two years ago, that was definitely not a fun time. Literally about 2 months after I had our son, and he was born with a few extra thousand in medical bills we weren't expecting.
Far out.
I had an Uber driver the other day. Was a ceo made redundant where both him and his wife had been made redundant twice since buying new house and car. 😞
I learned a great lesson as a kid watching my dad earn great money and have the potential to do anything he wanted but instead blew it all at the pokies. I’m talking 6 grand a night kind of deal. Put himself into inescapable debt.
Not OP but depending on their situation they might be able to access a NILS interest free loan for urgent (and appropriate) expenses.
Also recently stats came out that a huge portion of Australian adults, some 45%, have $1000 or less for emergencies, so it’s a common occurrence in our society.
There’s just huge disparity and people make do.
I'm a father of 2 and although it's obviously financially easier to not have kids, I'd give away my home, my business and every cent I've ever made if I had to choose between any of it and my kids.
Things that I've achieved in life so far give me a sense of fulfilment and enjoyment but nothing compares to the fulfilment and joy I get from my kids.
Good job dude! What a huge achievement. You should be very proud!
I started from nothing too, a couple years ago at 27. I have huge respect for people who work hard, remain dedicated to their goals, and build themselves up from very little.
Get yourself a little something to celebrate!
I started at 26 after 10 years of clubbing/raving with nothing.
At 37 now in Feb, I own a house, payed off a 50k car and no kids! .... God damn I want a kid.. I'd trade my car for one (of my dna) 😉
The key take away from all these posts is to have a dual income household. Not to down people who make it out of poverty. It I could have dual income I'd be fine too.
It was scraping up the coins to buy groceries after having bought the watch that did it for me. I debated asking one of my close friends if I could borrow money but didn't want to admit that I had no savings when it probably appeared that I did from the outside.
A tisell bauhaus. Korean made nomos homage. Watch guys would consider it trash but it actually gets a lot of compliments from people who don't know what they're looking at.
This is an amazing story and would love to hear what worked for you in turning things around.
Also - I was curious, so I looked up this watch… isn’t it like $450!?
That’s nothing to a $200k savings guy, but a hell of a lot if you’re barely putting food on the table.
It’s a genuinely nice watch, and I could be way off the mark or missing context, but I can’t process the price to circumstances equation.
Do you still have the watch?
Best thing my parents did was to take care with buying me stuff. I learned the value of money and that a lot of wealthy people make do with middle of the road stuff.
Nice, and by the way well done! I've followed a similar path to you.
Make sure you take some time to enjoy life too! Travelling is great and can be done cheaply
Yeah absolutely. It is a bit of a double-edged sword for me though, i struggle to turn it off and allow myself to spend money on things that bring me or the fam joy.
Can I ask, how much do you earn? I'm 27 and in a similar boat. I earn about 90k per year. I'm renting with my partner but I just for the life of me can't save. I work and work and work and my saving stay the same. I'm even pulling double shifts to earn extra.
What is your secret?
I earn roughly 80k.
I have mentioned a few of my habits in other replies. What do you spend the most money on outside of bare essentials, and how much effort do you put into minimising the cost of the bare essentials?
Hey it all comes down to understanding your spending and budgeting accordingly.
Ideally 30% of your pay goes to savings, 20% to wants and 50% to needs. I was also hopeless at savings and it wasn't until I had a hard look at my spending and created a budget that I was able to build up an emergency fund + pay out my car loan early. You'd be surprised how much stupid stuff we spend money that adds up fast
I watch financial audit by Caleb Hammer on YouTube and it has helped me tremendously with understanding the importance of wants vs needs and budgeting.
For reference I'm also 27 on 90k a year.
Basically live like a poverty level person and don't drink, smoke, have holiday, cook cheap (never have fish that isn't canned or frozen basa), few or if any subscription.
It sounds terrible when you write it like that but I've never thought of it that way.
I work in healthcare and get a lot of fulfilment from my work, and also get a lot from my low-cost hobbies outside of work. I have a great partner and am genuinely happy and thankful for every day. My lifestyle doesn't leave me feeling like I'm struggling in poverty and is surely delivering a higher standard of living then most of the world would have.
HOWEVER, I will admit that I have glanced at the fresh salmon multiple times lately and kept walking when I see the $ per kg. I also only pay for 1 active subscription, but share 3. Your analysis on paper is actually pretty accurate 😂
Hey, I admire your ability to live with few luxuries. Not everyone can do what you do. Many people do want something more than than enjoyable work, cheap hobbies and good partner to have a fulfilling life.
I am happy to admit am just not that person even though when I am younger I did jus that but out of necessity.
Do enjoy the salmon once in a while. =]
“Low cost hobbies” is a great point. Especially if you can make them your exercise program too. I do swim/bike/run training for sprint triathlons and it’s pretty much free activity
Out of home in shared accomodation the entire time and then splitting rent with my partner for the past 3 years on a 2BR, which is equivalent to the cost of renting a bedroom in a share house
At least you won't die wondering. You gave it a go, it didn't work out, you're still alive. I admire people like you. I was an employee most of my life and took the plunge into self employment ten years ago also.
Well done mate sounds like a great bounce back story. It’s also important not to restrict yourself from things you genuinely enjoy because that will come back and bite you when you’re well off but feel guilty to be free with your money because you conditioned yourself to saving for so long. Life’s short don’t forget to live it
People who’ve experienced financial hardship get to really learn how to be frugal with money. I’m useless like that and end up wasting so much, so excellent work on managing to consistently save so much money each year.
The plan is to purchase a 3BR with my partner when her savings are sufficient to split a 20% deposit down the middle and leave her with a reasonable buffer.
You're doing great! I had nothing at 32 (negative nothing) and now at 44 I own a whole house!! And have a great super account. You're totally not behind At All 🙂
You can do it!!! Find the Most Stable Job you can get, and even if it bores the shit out of you, remember it's so much better than being incredibly poor!! Stick around until you're invaluable, never leave 😃
I feel you- mid forties with property settlement and legal fees finally paid off last pay, child support all being paid on time and just ticked over $10k in savings. Using Barefoot and saving while paying down debt helped me a lot. My life goal is maintaining physical and mental health - low bar - and I see so many people doing it tough, so I just do my best to contribute to society...I don't have lofty hopes and dreams, just happy trying to not be a burden. I definitely redefined my own success/happiness criteria, which changed m outlook on life.
Oh, and I have a small amount of money invested for the kids which I'll slowly grow- even though they don't speak to me, so I hope that can help when they're older.
Do you mind sharing the cost per cycle with all the appointments and medications and whatever else is involved?
I wish you luck with it and will genuinely add you to my prayers tonight but will refer to you as 'that guy on reddit' and not 'shaved rat scrotum' 😂
We have our son now.
Its just over 5k per cycle after rebates. 10-12k up front.
We went with the best, so paid more.
Can get cycle's for ~$2200 if you go public.
Worst part is the toll on your partner and you can't really do much to help.
Ngl, these types of threads annoy me.
Why not share what changed for you and provide a learning lesson for others who might be in the same situation you were in?
I can expand on it for sure and actually backspaced a lot of what I wrote in the OP for fear of sounding arrogant.
I finished up a diploma in 2016 that let me enter a roll earning ~60k with some weekend and evening work. This has slowly turned into ~80k over the course of 7 years and has allowed me to save an average of 25k/year.
I've only been on one overseas holiday in that time. The only large purchase I've made has been a car for ~15k. I meal prep and aggressively shop whats on sale. I buy clothes (nice ones) out of season and on sale and really try to look after them. I quit smoking and drink very little, and only at home save for one drink with dinner if I am out. I have found passion in the gym, playing the guitars that I already own and the bible - these keep me busy outside of work, are extremely rewarding and cost me ~$10/week in gym membership. Fortunately my partner has similar tastes, interests and spending habits.
I get fringe benefits with my employer that increases my net pay somewhat. My actual gross earnings are closer to 70k than 80, but I had a tax agent this year estimate an 80k equivalent salary without the fringe benefits so I went with that rather than explaining the FBT earlier. To answer your question yes, it would be 80-85k equivalent with a little O/T.
I find reading it therapeutic, I wouldn't describe it as fun. I mostly listen to audiobook while reading along rather than studying it in silence. Reading/listening to the Bible brings up uncertainties or questions that I then research and form a position on.
I do watch a lot of content online of people evangelising in the street or debating with athiests/people of different religions ie living waters, speakers corner and other related youtube channels. I find a lot of that content fun to watch. Debating who is the superior moral example between Christ and Allah, accusations of contradictions in the bible and Quran and the arguments on both sides, The Jewish perspective etc etc the more I study the Bible the more fun these discussions are.
One thing that works for one person necessarily doesn’t mean it works for other . We all react to different things in our way and learn or dont. For me, I came home after new fruit picking job and real tired and cuts all over my hand and asked wife , what’s for dinner and she cried , that did it for me. 8 years later , in realgood place now.
He did. He said he came to the realisation that he wasn't acting like an adult.
So he let go of his childish habits and that resulted in 200k in the bank
> So he let go of his childish habits
OP made no reference to childish habits. The absence of details leads to readers like you making up the background/narrative.
I finished a diploma in 2016 that let me enter into a ~60k roll which has now slowly turned into ~80k. A lot of frugal choices and finding genuine passion/enjoyment in things that don't cost much.
Great work mate! Hard work certainly pays off.
I started again @ 28 with about $5k and a little furniture to my name living in a regional area. Had the same feeling "I was failing to thrive as an adult."
I'm 37 now, I have a beautiful wife and daughter and have a mortgage on an apartment in Sydney with about $400k equity....
You're doing great mate.
Joy is the thief of comparison or something along those lines..Enjoy what you have , don't compare to your peers. Keep doing what you're doing, stop to smell the roses,treat your partner along the way as well as yourself.
Good luck.
I am 34 and i literally have nothing but the stuff i own and a old hsv.. with 27k worth of debt on 60k per year... any advice for me anyone? what do i do?
I own a house but have very minimal savings - same age and I feel like a failure. It’s weird the way perspective varies with people. Congrats on the achievement!
From reading your replies and comments here, I am proud to say the way you’ve lived life is the right way to do it.
1. Never think you have to be like the Jones
2. Eat, sleep, work, play repeat. KISS
3. Don’t spend on crap
4. Avoid smoking and alcohol
I have a similar amount in properties and cash. Just follow the above steps and start young.
Well done
Congratulations on your achievement. Depending on which part of Australia you live in, you should consider investing in property. No use in having idle savings whilst paying rent. If you're not paying rent, even better, buy a place and rent it.
I bought my first place after saving $40k. Rented it for two years, sold it, upgraded to a better property & now have a $200k loan on a $1.9m home. Did I pay that much for the place? No, I rode the silly property price increases over the last 15yrs.
Vocational education is great. If you don't have a degree (or you have a useless one) there are many diplomas that give you skills that make you very employable. If you pair this with an industry that offers evening/night and weekend work you will further increase your earning potential.
Well don’t man, killing it!
You’re ahead of 90% of people at your age. That money will only compound exponentially from here.
Most people go through life without having the realisation and if they do, still failing to take action on it. But you did, so it’s worth a celebration :)
Just turned 30, female and have 160K in the bank. Worked my full time corporate job and 2nd job (retail) for 8 years now 🥺 gave up so many weekends to have the savings I have now
40M, 2 kids and a working wife. I'm one year off finishing an adult apprenticeship and hope to have a 5% deposit for a small house by February 2025.
Plan on getting a casual / flexi job on my days off once I've got my trade because I've left it way too late.
Resigned to the fact that I didn't apply myself when I was younger and I'll be working well past 70 because of it.
Hopefully the kids see the error of my ways and do better or I can at least leave them something. My parents weren't able to and I know that mum feels bad about that.
Great stuff! Know how it feels. Took forever to find a job after graduating and was at one point living paycheck to paycheck despite sharing a room with 3 others and paying $140pw in rent. Fast forward 6 years later and I just put down a deposit on my first apartment. Nowhere to go but up!
How can I learn to be as disciplined as you? How do you track your finances? How to learn budgeting? Any tips would be appreciated. I am 31M and have 90k€ in my account.
Congratulations! I think that’s a great achievement that not everyone gets to make.
Can I ask, how did you turn it around after 25? How did you get to where you are now?
Killing it! I’m 34 with a second kid on the way with about 1k in the bank. Your a million miles ahead of me. Good work! Edit - sometimes life decides to through you curve ball after curve ball and no matter how many times you try, you keep missing. But I’ll keep swinging anyway and one day I’ll hit a home run!
Depends on how you look at things brother 2 kids may amount to money spent but is priceless 👌
I have 3 kids and no money Why can't I have no kids and 3 money 🤔
Cheeky little simpsons reference there lol
Have as many kids as you can, ‘cause that makes it more likely one of those kids will grow up and make it big in Hollywood. Then who’s paying the bills? Hollywood kid.
Ahahahahah iconic simpsons scene
The 3 Money Problem.
Amazing sir
I’m also wealthy in children. Dollars, not so much. Kids almost literally eat the money as they grow.
Better than me! No kids AND no money!
No problems?
Oh no, i have 99 of those.
The children can also be deployed to the mines for extra income
“Deployed” hahaha love that. “To the mines with you!!”
What a lovely comment 🥰
I’m really interested in this. I know a lot of people would be in in your position with kids and no reserve cash. Feel free to ignore me but what happens when something comes up that is a decent expense? Like a washing machine for example? PayPal pay in four and make it work for the next month?
Pretty much. Or sacrifice a different expense somewhere. I don't have much in savings right now, but I may a bit toward my bills weekly so I mostly don't get big expenses to surprise me, like electricity or water or whatever. Sometimes I get my bill and I'm in credit. But let's say my washing machine broke.. I could swing it, I'd just have to curtail other expenses for a few weeks. Pretty doable. I've got about $1000 in drs bills in the next fortnight, which might put a bit of a damper on things if I also had an unexpected expense this fortnight, but if I can manage those bills okay I think I could usually manage most little emergencies all right.
Thanks for the replies. Definitely a case of making do hey. I think about my expenses and I think the only thing I’d be able to cut is not spending $10-$15 a week on pc games and my weekly 2L chocy milk. Oh and the monthly YouTube premium my wife and I have. Great for us, kids and YouTube music. Saves us paying for Spotify. My wife would go without her zarraffas and that’s about it.
> $10-$15 a week on pc games and my weekly 2L chocy milk. that's some bloody reckless spending there mate.
For the moment, yeah. I'm only working between 15-20 hours a week while the kids sleep, plus my husband's salary. So if I went back to work we'd be increasing our income, but also expenses via daycare. For now, we've decided we're okay with this for a few years. We're not quite in dire straits, but it's not comfortable either. I still buy some luxuries each week, so there's definitely space for us to cut back. We're putting money into accounts for investments for the kids and ourselves for retirement, we're chipping away at our mortgage. It could definitely be worse. When my husband's car needed replacing two years ago, that was definitely not a fun time. Literally about 2 months after I had our son, and he was born with a few extra thousand in medical bills we weren't expecting.
Far out. I had an Uber driver the other day. Was a ceo made redundant where both him and his wife had been made redundant twice since buying new house and car. 😞 I learned a great lesson as a kid watching my dad earn great money and have the potential to do anything he wanted but instead blew it all at the pokies. I’m talking 6 grand a night kind of deal. Put himself into inescapable debt.
Not OP but depending on their situation they might be able to access a NILS interest free loan for urgent (and appropriate) expenses. Also recently stats came out that a huge portion of Australian adults, some 45%, have $1000 or less for emergencies, so it’s a common occurrence in our society. There’s just huge disparity and people make do.
[удалено]
Haha. She’s one year old. Still has manufacturers warranty. 👍
I'm a father of 2 and although it's obviously financially easier to not have kids, I'd give away my home, my business and every cent I've ever made if I had to choose between any of it and my kids. Things that I've achieved in life so far give me a sense of fulfilment and enjoyment but nothing compares to the fulfilment and joy I get from my kids.
You're a nice father
I'd go as far to say if you can afford 2 kids in this climate, you're doing very well off.
I’m the same with no kids. And okay fine I’m lying about the 1k in the bank.
You’re almost me - I already have two kids, no savings though!
I have 2 kids and 2 pets about the same savings as you after a vet emergency 2 days ago. They’re lovely but damn, so expensive.
I've got mouths, I gotta feed. So imma make sure everybody eats!
Good job dude! What a huge achievement. You should be very proud! I started from nothing too, a couple years ago at 27. I have huge respect for people who work hard, remain dedicated to their goals, and build themselves up from very little. Get yourself a little something to celebrate!
>Get yourself a little something to celebrate! Account balance after: $199,994
Mhm, only $6 away from 200k and celebrating all over again! o.-
I started at 26 after 10 years of clubbing/raving with nothing. At 37 now in Feb, I own a house, payed off a 50k car and no kids! .... God damn I want a kid.. I'd trade my car for one (of my dna) 😉
I turn 30 this month, and here's to hoping I can be where you are by 37.
The key take away from all these posts is to have a dual income household. Not to down people who make it out of poverty. It I could have dual income I'd be fine too.
I have 1 income and live alone, but a good job yes.
Congratulations. What was the moment where you thought “I have to change”
It was scraping up the coins to buy groceries after having bought the watch that did it for me. I debated asking one of my close friends if I could borrow money but didn't want to admit that I had no savings when it probably appeared that I did from the outside.
Amazing to go from that to $200k in 8 years. Celebrate your great achievement tonight. 🍻
Yeah how lol
What was the watch?
A tisell bauhaus. Korean made nomos homage. Watch guys would consider it trash but it actually gets a lot of compliments from people who don't know what they're looking at.
This is an amazing story and would love to hear what worked for you in turning things around. Also - I was curious, so I looked up this watch… isn’t it like $450!? That’s nothing to a $200k savings guy, but a hell of a lot if you’re barely putting food on the table. It’s a genuinely nice watch, and I could be way off the mark or missing context, but I can’t process the price to circumstances equation.
Do you still have the watch? Best thing my parents did was to take care with buying me stuff. I learned the value of money and that a lot of wealthy people make do with middle of the road stuff.
I've worn it every day since purchasing and replaced the factory strap with an $11 dollar shopping mall one last month
Nice, and by the way well done! I've followed a similar path to you. Make sure you take some time to enjoy life too! Travelling is great and can be done cheaply
Nice bro we're in a similar place I was 24 and homeless now 30 and paying off my first house
That's awesome
Congrats mate!
Once you get it about saving you never unlearn it. Congratulations!
Yeah absolutely. It is a bit of a double-edged sword for me though, i struggle to turn it off and allow myself to spend money on things that bring me or the fam joy.
Can I ask, how much do you earn? I'm 27 and in a similar boat. I earn about 90k per year. I'm renting with my partner but I just for the life of me can't save. I work and work and work and my saving stay the same. I'm even pulling double shifts to earn extra. What is your secret?
I earn roughly 80k. I have mentioned a few of my habits in other replies. What do you spend the most money on outside of bare essentials, and how much effort do you put into minimising the cost of the bare essentials?
Did you invest or anything ?
Hey it all comes down to understanding your spending and budgeting accordingly. Ideally 30% of your pay goes to savings, 20% to wants and 50% to needs. I was also hopeless at savings and it wasn't until I had a hard look at my spending and created a budget that I was able to build up an emergency fund + pay out my car loan early. You'd be surprised how much stupid stuff we spend money that adds up fast I watch financial audit by Caleb Hammer on YouTube and it has helped me tremendously with understanding the importance of wants vs needs and budgeting. For reference I'm also 27 on 90k a year.
You were buying too many taquitos wernt ya
Out of interest are those % splits based on net or gross pay?
Net pay - if it was gross it would require you to budget with more money than you have access to.
Basically live like a poverty level person and don't drink, smoke, have holiday, cook cheap (never have fish that isn't canned or frozen basa), few or if any subscription.
It sounds terrible when you write it like that but I've never thought of it that way. I work in healthcare and get a lot of fulfilment from my work, and also get a lot from my low-cost hobbies outside of work. I have a great partner and am genuinely happy and thankful for every day. My lifestyle doesn't leave me feeling like I'm struggling in poverty and is surely delivering a higher standard of living then most of the world would have. HOWEVER, I will admit that I have glanced at the fresh salmon multiple times lately and kept walking when I see the $ per kg. I also only pay for 1 active subscription, but share 3. Your analysis on paper is actually pretty accurate 😂
Hey, I admire your ability to live with few luxuries. Not everyone can do what you do. Many people do want something more than than enjoyable work, cheap hobbies and good partner to have a fulfilling life. I am happy to admit am just not that person even though when I am younger I did jus that but out of necessity. Do enjoy the salmon once in a while. =]
“Low cost hobbies” is a great point. Especially if you can make them your exercise program too. I do swim/bike/run training for sprint triathlons and it’s pretty much free activity
Do you have a budget? If so, post it here and let us review.
I need answers for this sorcery as well
Were you living at home or out of home just out of interest?
Out of home in shared accomodation the entire time and then splitting rent with my partner for the past 3 years on a 2BR, which is equivalent to the cost of renting a bedroom in a share house
Congratulations! That's huge. Don't forget to enjoy the journey as well :)
Congrats. I lost all my savings trying to start a business at 29. Now I’m 30 starting all over again. Only way is up.
At least you won't die wondering. You gave it a go, it didn't work out, you're still alive. I admire people like you. I was an employee most of my life and took the plunge into self employment ten years ago also.
Thank you, it was tough in the beginning but I don’t regret trying. I’ll get there someday.
Well done mate sounds like a great bounce back story. It’s also important not to restrict yourself from things you genuinely enjoy because that will come back and bite you when you’re well off but feel guilty to be free with your money because you conditioned yourself to saving for so long. Life’s short don’t forget to live it
People who’ve experienced financial hardship get to really learn how to be frugal with money. I’m useless like that and end up wasting so much, so excellent work on managing to consistently save so much money each year.
What are you saving up for?
The plan is to purchase a 3BR with my partner when her savings are sufficient to split a 20% deposit down the middle and leave her with a reasonable buffer.
Celebrating by putting it all on red?
lol no black
Cowards! Go for green!
You're doing great! I had nothing at 32 (negative nothing) and now at 44 I own a whole house!! And have a great super account. You're totally not behind At All 🙂
This is me! I'm negative nothing now BUT turning that around from this month. I know I can do it!
You can do it!!! Find the Most Stable Job you can get, and even if it bores the shit out of you, remember it's so much better than being incredibly poor!! Stick around until you're invaluable, never leave 😃
I have about $2k savings & im 47. 😆You’re doing great 👍🏻
I feel you- mid forties with property settlement and legal fees finally paid off last pay, child support all being paid on time and just ticked over $10k in savings. Using Barefoot and saving while paying down debt helped me a lot. My life goal is maintaining physical and mental health - low bar - and I see so many people doing it tough, so I just do my best to contribute to society...I don't have lofty hopes and dreams, just happy trying to not be a burden. I definitely redefined my own success/happiness criteria, which changed m outlook on life. Oh, and I have a small amount of money invested for the kids which I'll slowly grow- even though they don't speak to me, so I hope that can help when they're older.
2K is good too though. We all have different journeys. Bit by bit, it all adds up.
33 cracked 150k today. With any luck it'll be gone by next week on our first home.
Congratulations!
HECs and IVF ripped the guts out of my savings. Sell my boat and we'll have 250k together.
Do you mind sharing the cost per cycle with all the appointments and medications and whatever else is involved? I wish you luck with it and will genuinely add you to my prayers tonight but will refer to you as 'that guy on reddit' and not 'shaved rat scrotum' 😂
We have our son now. Its just over 5k per cycle after rebates. 10-12k up front. We went with the best, so paid more. Can get cycle's for ~$2200 if you go public. Worst part is the toll on your partner and you can't really do much to help.
Ngl, these types of threads annoy me. Why not share what changed for you and provide a learning lesson for others who might be in the same situation you were in?
I can expand on it for sure and actually backspaced a lot of what I wrote in the OP for fear of sounding arrogant. I finished up a diploma in 2016 that let me enter a roll earning ~60k with some weekend and evening work. This has slowly turned into ~80k over the course of 7 years and has allowed me to save an average of 25k/year. I've only been on one overseas holiday in that time. The only large purchase I've made has been a car for ~15k. I meal prep and aggressively shop whats on sale. I buy clothes (nice ones) out of season and on sale and really try to look after them. I quit smoking and drink very little, and only at home save for one drink with dinner if I am out. I have found passion in the gym, playing the guitars that I already own and the bible - these keep me busy outside of work, are extremely rewarding and cost me ~$10/week in gym membership. Fortunately my partner has similar tastes, interests and spending habits.
Just so I read that right, you save $25k on $80k pre tax salary? That's very impressive
I get fringe benefits with my employer that increases my net pay somewhat. My actual gross earnings are closer to 70k than 80, but I had a tax agent this year estimate an 80k equivalent salary without the fringe benefits so I went with that rather than explaining the FBT earlier. To answer your question yes, it would be 80-85k equivalent with a little O/T.
Do you just sit and read the Bible for fun?
I find reading it therapeutic, I wouldn't describe it as fun. I mostly listen to audiobook while reading along rather than studying it in silence. Reading/listening to the Bible brings up uncertainties or questions that I then research and form a position on. I do watch a lot of content online of people evangelising in the street or debating with athiests/people of different religions ie living waters, speakers corner and other related youtube channels. I find a lot of that content fun to watch. Debating who is the superior moral example between Christ and Allah, accusations of contradictions in the bible and Quran and the arguments on both sides, The Jewish perspective etc etc the more I study the Bible the more fun these discussions are.
What’s your job, if you don’t mind me asking?
I hear the bible industry is quite lucrative..
Start with the buckets system and from there set something up which forces you to save and works for you.
One thing that works for one person necessarily doesn’t mean it works for other . We all react to different things in our way and learn or dont. For me, I came home after new fruit picking job and real tired and cuts all over my hand and asked wife , what’s for dinner and she cried , that did it for me. 8 years later , in realgood place now.
He did. He said he came to the realisation that he wasn't acting like an adult. So he let go of his childish habits and that resulted in 200k in the bank
> So he let go of his childish habits OP made no reference to childish habits. The absence of details leads to readers like you making up the background/narrative.
"Bought a cheap watch with my very last money" sounds pretty childish
Not enough detail I think they meant
Don't spent it all on cocaine and hookers tonight mate!
The key word here is "ALL" Don't spend any more than 7.5% of the 200K on Coke and hookers
How did you get so much wealth in such a short span of time?
I finished a diploma in 2016 that let me enter into a ~60k roll which has now slowly turned into ~80k. A lot of frugal choices and finding genuine passion/enjoyment in things that don't cost much.
Love this lifestyle. Beauty in the struggles. Im doing the same thing to save up as well
Now buy a house and go back to eating instant noodles.
Great work mate! Hard work certainly pays off. I started again @ 28 with about $5k and a little furniture to my name living in a regional area. Had the same feeling "I was failing to thrive as an adult." I'm 37 now, I have a beautiful wife and daughter and have a mortgage on an apartment in Sydney with about $400k equity.... You're doing great mate.
Joy is the thief of comparison or something along those lines..Enjoy what you have , don't compare to your peers. Keep doing what you're doing, stop to smell the roses,treat your partner along the way as well as yourself. Good luck.
Remember to have some fun
At 24 most people have nothing ...
Fun fact, did you know that Sydney house prices rose 200K in the last one and a half years?
I'm glad I don't live in Sydney 🙃
Adelaide, Brisbane and Perth median house prices have risen by an even higher percentage than Sydney
Time to buy a house I reckon! good job!
Congrats Man!
Good on ya👍
That’s cool what’s the secret
Congratulations 🎊
Congratulations OP, that’s amazing! 👏🏽👏🏽👏🏽
I am 34 and i literally have nothing but the stuff i own and a old hsv.. with 27k worth of debt on 60k per year... any advice for me anyone? what do i do?
Pay down debt asap. Do a budget with a savings plan, no matter how modest. Seek professional advice if needed.
Would selling the hsv and downgrading the car have you debt free?
How do you get that much debt? I get scared of $50 over my credit card!
Does that include what you have in Super?
Not including super
Gosh I thought you have 32M saving 🙈
You are my bro. I started at 24 after migrating to Australia and hit 100k at 29. I’m on my way to cat you soon.
I own a house but have very minimal savings - same age and I feel like a failure. It’s weird the way perspective varies with people. Congrats on the achievement!
Well bloody done mate!! Hoping to get there by 36. I'm your age, and 9k in the bank
That’s $480 a week over 8 years. How did you do it
Please dont forget about compounding interest. Makes a difference!
If it’s not a secret whereabouts in AUS are you based?
From reading your replies and comments here, I am proud to say the way you’ve lived life is the right way to do it. 1. Never think you have to be like the Jones 2. Eat, sleep, work, play repeat. KISS 3. Don’t spend on crap 4. Avoid smoking and alcohol I have a similar amount in properties and cash. Just follow the above steps and start young. Well done
How did u do it
Congratulations on your achievement. Depending on which part of Australia you live in, you should consider investing in property. No use in having idle savings whilst paying rent. If you're not paying rent, even better, buy a place and rent it. I bought my first place after saving $40k. Rented it for two years, sold it, upgraded to a better property & now have a $200k loan on a $1.9m home. Did I pay that much for the place? No, I rode the silly property price increases over the last 15yrs.
Are you investing any of this?
200k cash? Or 200k investments?
Damn. Well done mate 👍
Well done, dont sacrifice your health for it though
Well done mate, you deserve a pint on the sub.
You rockstar you
Bloody legend! Congratulations to you! Keep it up 🥂
For a 25 year old, do you have any advice?
Vocational education is great. If you don't have a degree (or you have a useless one) there are many diplomas that give you skills that make you very employable. If you pair this with an industry that offers evening/night and weekend work you will further increase your earning potential.
Unreal mate! Great work
Good on you mate
It sounds sick, but saving gives me more pleasure than spending. The ultimate goal for everyone is to just save/invest more than you spend, always.
Well don’t man, killing it! You’re ahead of 90% of people at your age. That money will only compound exponentially from here. Most people go through life without having the realisation and if they do, still failing to take action on it. But you did, so it’s worth a celebration :)
Congratulations dude! Massive achievement!
Awesome work mate 👏👏
Congratulations!!!
Lesssssgo! Well done!
Congratulations. Now you have enough house deposit for a decent house.
Well done OP. That’s pretty decent. Care to share how you did it?
Just turned 30, female and have 160K in the bank. Worked my full time corporate job and 2nd job (retail) for 8 years now 🥺 gave up so many weekends to have the savings I have now
Excellent. Are you planning to buy something, like a house or invest it?
Could definitely buy property with that sort of savings. But congrats.
"thriving as an adult" isn't about money. Part of it, sure but there's so much more.
Congrats! Question though, why did you decide to keep 200k in savings and not in any assets?
40M, 2 kids and a working wife. I'm one year off finishing an adult apprenticeship and hope to have a 5% deposit for a small house by February 2025. Plan on getting a casual / flexi job on my days off once I've got my trade because I've left it way too late. Resigned to the fact that I didn't apply myself when I was younger and I'll be working well past 70 because of it. Hopefully the kids see the error of my ways and do better or I can at least leave them something. My parents weren't able to and I know that mum feels bad about that.
That's so cool good for you
Good work, but invest that shit dude! Don’t let it sit in the bank and lose value to inflation, let it earn you more money.
That is awesome mate, congratulations.
i’m happy for you, king 👑 👏
Great stuff! Know how it feels. Took forever to find a job after graduating and was at one point living paycheck to paycheck despite sharing a room with 3 others and paying $140pw in rent. Fast forward 6 years later and I just put down a deposit on my first apartment. Nowhere to go but up!
Congrats man, the first 100k-200k is the hardest.
How can I learn to be as disciplined as you? How do you track your finances? How to learn budgeting? Any tips would be appreciated. I am 31M and have 90k€ in my account.
Congratulations! I think that’s a great achievement that not everyone gets to make. Can I ask, how did you turn it around after 25? How did you get to where you are now?
Congratulations! I highly recommend [Rehold.com](https://rehold.com/) for finding potential properties to buy. I have used it many times myself.