MONEY DIARIES: The Student Smashing her Savings, Side Hustle & Investment Goals!
Mar 24, 2024
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A young woman shares her inspiring financial journey at just 18, saving $20,000, having investments, and a side hustle. The discussion includes her upbringing, money management skills, and financial aspirations. Insights on investment diversification, strategic planning, shopping habits, and personal growth are also covered.
18-year-old guest saved $20,000 and invested $6,300 while managing a tutoring business partnership.
Guest aims to invest $20,000 by graduation and venture into property investment, demonstrating a strategic wealth accumulation approach.
Deep dives
Success in Savings and Investments at 18
An 18-year-old guest on the podcast has accomplished impressive financial feats, saving $20,000 and investing $6,300 while managing a tutoring business partnership with her sisters alongside her studies. Growing up in a single-parent household, she imbibed strong money habits from her mother, emphasizing frugality and education, which paved the way for her entrepreneurial spirit and wise financial decisions at a young age.
Financial Vision and Goals
The guest articulates her financial goals, aiming to invest $20,000 by graduation and eventually venture into property investment. Despite living in Sydney, she plans to purchase an investment property out of state, displaying a strategic approach to wealth accumulation and an understanding of the importance of long-term financial planning and diversification.
Learning and Investment Strategies
Through self-education via podcasts, books, and YouTube videos, the guest delved into investing, particularly in ETFs, diversifying her portfolio with ASX 200 and agricultural ETFs. She demonstrates a disciplined investment strategy, utilizing dollar-cost averaging and emphasizing the value of diversified assets to mitigate risks and optimize returns.
This savvy community member grew up in a single parent household with an amazing mum who always prioritised her education. Now at the tender age of 18, she's studying, has a side hustle, has already saved $20,000 and has investments! Wait till you meet this absolute young gun!
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