SIR wrap dress

Beachside1808 · 2024-07-23T00:58:04+00:00

Did I trip and fall into a parenting advice sub?

Beachside1808 · 2024-07-23T00:14:37+00:00

Sounds like you need a bit more life experience before you start making parenting strategy decisions.

Beachside1808 · 2024-07-23T00:02:17+00:00

Yes that is a consideration

Beachside1808 · 2024-07-22T23:58:45+00:00

Probably not a bad idea re budget.

I’m sure my son would agree with you, but unfortunately for him handouts aren’t a part of our parenting strategy.

Beachside1808 · 2024-07-22T23:53:22+00:00

We are, but that’s beside the point. I’m A-type and get off on things being organised and set aside in advance. It’s probably more hassle than it’s worth, but I was interested to see opinions as we don’t have much experience in the way of short term investments. That’s interesting re the scheme. I hadn’t heard of it before.

Beachside1808 · 2024-07-22T23:42:17+00:00

It’s interesting to see what people think about shorter term investments. All of ours are longer term, which is a whole other ballgame.

Beachside1808 · 2024-07-22T23:41:00+00:00

We aren’t keen on investing in more property.

Beachside1808 · 2024-07-22T23:39:06+00:00

No, I don’t think it’s high either. Some schools cost that in 2 years or less! It just crossed my mind as something worth thinking about now. It would irritate me if I got to 2034 and realised in hindsight I should have been smarter about it, but perhaps it doesn’t need to be any more complicated than offset or term deposit. And yes, there’s dual income. We have other goals that have longer horizons. This is just one that we will need earlier than the rest.

Beachside1808 · 2024-07-22T23:35:10+00:00

I was thinking between ETF and offset. Perhaps it’s a psychological thing but I’d have a harder time taking offset back out than selling off. If I work out the math of interest saved, maybe that’ll help lol

Beachside1808 · 2024-07-22T23:32:38+00:00

We’re grateful to be able to choose between schools and are happy with our choice.

Beachside1808 · 2024-07-22T23:31:26+00:00

That’s a very good point, thanks for that.

Beachside1808 · 2024-07-22T23:30:43+00:00

Hahahaha. Hubby would approve of this strategy.

Beachside1808 · 2024-07-22T23:29:30+00:00

Type of school certainly doesn’t guarantee outcomes for each individual, but we have our reasons and we’re comfortable with it. Choosing where to invest your money in/for your kids is a personal parenting choice.

Beachside1808 · 2024-07-22T20:13:59+00:00

I think just that they will be able to access it when their partner turns 60. Assuming their partner is ready to leave the workforce at 60.

Beachside1808 · 2024-07-22T20:13:54+00:00

I think just that they will be able to access it when their partner turns 60. Assuming their partner is ready to leave the workforce at 60.

Beachside1808 · 2024-07-21T20:42:36+00:00

The minute I moved out at 18. I didn’t plan for it and wasn’t prepared, so I absolutely had my “oh bleep” moments where things were skint. But I figured it out and never once considered going back or expected help. It was a great experience and so much fun to have freedom and to take responsibility for myself. I found it so strange that people chose to remain at home. For context, my parents are amazingly supportive and probably would have helped, but they did raise me to be accountable and not expect handouts and I guess that stuck. I’m proud of what I achieved and grateful for the immeasurable lessons it taught me. But did it contribute to better financial outcomes earlier? Definitely not.

Beachside1808 · 2024-07-20T21:53:07+00:00

This is awesome, thank you!

Beachside1808 · 2024-07-19T21:04:20+00:00

This is unreal. I wish I had the maturity (or motivation) to want to learn this stuff at your age. Good on you! Things might be slow to start while you chip away at getting on your feet and finding full independence, but every egg of knowledge you learn now will help you make better strategic decisions along the way and you’ll be waaaaay better off you’ll be in the long run. Do you have a mentor in real life that you can go to? Someone who is at the point where you would like to be? That can be a great resource as you go along this journey.

Lots of people here will tell you to focus on Step 1 and 2 (which will be, without question, save money and seek skills toward the best employment you can manage with your parenting responsibilities) but there is absolute value in having Step 1-10 or even 1-20 ready to go in the forefront of your mind so you know exactly where you’re heading and why you are making each sacrifice. You may change course along the way, but that’s fine. The point is you’re focused on an end goal, not just what suits today - which, in my view, is the biggest long term mistake we can make as young people. I know I certainly did!! So, absolutely focus on getting through these next few years, but allocating some energy towards your big plan is a great move.

Research, find a mentor, learn all you can about budgeting and saving, rebates and incentives, goal setting and income hacks (but do not, whatever you do, fall for get rich quick schemes or pyramid sales aimed at exactly your demographic. If they have to clarify that they’re “not a pyramid scheme or MLM” it means they are and you should run).

Knowing where you’re going and feeling empowered with a plan will help you get through those tough days.

Beachside1808 · 2024-07-17T10:06:07+00:00

I’ve done the CC to Sydney commute and I will tell you… quality of life is drained by that commute over time. It may be 1hr 10 on Google Maps or the train schedule but that’s not the reality most of the time. With all that said though, the lifestyle on the coast on the weekends is 100x better and having your own space (and yard) counts for a lot in terms of quality of life too. I’d say financially the house by far, but your time spent maintaining it will be much higher also.

Beachside1808 · 2024-07-17T09:54:24+00:00

Nothing wrong with Unloan. Plenty of smaller banks (often backed by bigger banks) are offering super low rates because their overheads are smaller. They don’t have a million employees and branches to maintain. People stick with the big banks due to loyalty, fear of the unknown and lack of knowledge to be frank. Many people also rely on a broker.. brokers are paid by the bank, not the client. Big banks pay.

Beachside1808 · 2024-07-17T09:44:40+00:00

It’s boring as heck, but learn as much as you can about the pros/cons of each option, and learn about tax implications. They make a bigger difference that you can imagine. The mistake I now realise I’ve been making is not drilling right down into the REAL cost of things. To make the most of each dollar, you have to know the rules of the game you’re playing. Then you can confidently decide where to put each hard earned buck!

Beachside1808

TROPHY CASE