Marketing director, 24, explains how she went from debt to net worth of $ 340,000


A 24-year-old marketer who had $ 13,000 in debt explained how she managed to pay it off and earn over $ 347,000 in net worth in five years.

Queenie Tan, from Sydney, said her financial success gradually built up over time after she started researching and investing at the age of 19.

“I have always been good at saving money, but investing was completely new to me and it was something I was interested in learning more about,” she told FEMAIL.

Listening to audiobooks, Queenie quickly learned that investing was the key to generating passive income in order to achieve financial flexibility and freedom.

She now has a diverse financial portfolio and impressive net worth that she shares with her partner, as they together bought their first property in 2019 worth $ 500,000 with a deposit of $ 100,000.

Each month, Queenie is able to invest up to $ 5,000 through her six income streams as well as using the equity in the apartment.

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Sydney local Queenie Tan (pictured) said her financial success gradually built up over time after she started researching and investing when she was 19.

She now has a diverse financial portfolio and impressive net worth that she shares with her partner, as they together bought their first property in 2019 worth $ 500,000 with a deposit of $ 100,000.

She now has a diverse financial portfolio and impressive net worth that she shares with her partner, as they together bought their first property in 2019 worth $ 500,000 with a deposit of $ 100,000.

Each month, Queenie is able to invest up to $ 5,000 through her six income streams as well as use the equity in the apartment.

Each month, Queenie is able to invest up to $ 5,000 through her six income streams as well as use the equity in the apartment.

Queenie admitted that she dropped out of marketing studies and decided to apply for jobs because she lived paycheck to paycheck and only made $ 400 a week.

“When I was 19 and left home, I had no savings and working only covered the bare minimum, so I decided to give it a shot at dropping out of college – luckily, it paid off, ”she said.

Awesome net worth is calculated by the total number of assets minus any debt.

She said those assets include the value of her property, her portfolio of stocks and cryptocurrencies, her clearing account, her savings and her superannuation, but home loan debt of $ 455,000 is the only one. responsibility.

Queenie's assets include the value of her property, her portfolio of stocks and cryptocurrencies, her clearing account, her savings, and her superannuation, but home loan debt of $ 455,000 is the sole liability.

Queenie’s assets include the value of her property, her portfolio of stocks and cryptocurrencies, her clearing account, her savings, and her superannuation, but home loan debt of $ 455,000 is the sole liability.

“Ancillary activities” to increase annual income:

Independent

Dog walking or babysitting

Direct delivery

YouTube Ads

Writing

Different investment options:

Goods

Exchange Traded Funds (ETFs)

Australian Stock Exchange – ASX200

US Stock Market – S & P500

Queenie’s financial portfolio is diversified but primarily consists of exchange-traded funds (ETFs) through CMC Markets – a platform that allows users to buy Australian and international stocks for low brokerage fees.

It also uses a platform called Stake to buy US stocks because it is “user friendly” and also has low brokerage fees.

Alternative Australian ETF platforms that are known to be useful for beginners include Raiz, Spaceship, and the CommSec pocket app.

“I invest $ 5,000 each month to maintain a balance and generally try to follow the market before I buy,” she said.

Queenie said anyone can become financially free by saving the majority of your income, tracking your finances, spending less than you earn, and investing the rest.

Queenie said anyone can become financially free by saving the majority of your income, tracking your finances, spending less than you earn, and investing the rest.

Queenie is able to invest $ 5,000 each month because she lives below her means, saves or invests 60 percent of her annual income and has six sources of income.

In addition to her senior management role, she also does freelance marketing work, operates YouTube ads, owns a false eyelash e-commerce business as well as corporate dividends.

“Reaching financial goals is a time consuming process, and I have found tracking my monthly expenses to be very helpful,” she said.

When it comes to saving more money, it’s essential to spend less than what you earn, have a goal in mind, track your spending, and think about your priorities without sacrificing too much.

“The more I learned about investing, the more enthusiastic I became because it’s something that can be used to become financially free,” she said.

While Queenie and her partner currently live in the one bedroom apartment, they are hoping to purchase an investment property in the future.

While Queenie and her partner currently live in the one bedroom apartment, they are hoping to purchase an investment property in the future.

While Queenie and her partner currently live in the one bedroom apartment, they are hoping to purchase an investment property in the future.

“The more I learned about investing, the more enthusiastic I became because it’s something that can be used to become financially free,” she said.

“For this reason, I think it is so important for young people to learn more than to avoid investing.”

Queenie hopes that when she is 35, she will have enough money to work only part-time and save the time she would have spent working.

QUEENIE TIPS TO SAVE MORE MONEY

* Live below your means and spend less than what you earn per week

* Track your finances weekly / month

* Consider your priorities and what you need to spend money on

* Think about what you can get out of your weekly spending – like buying coffee or lunch every day

* Avoid buying the latest products or technologies

* Buy on sale

* Buy only what you need, not what you want



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