Welcome back to The Australian Blogger Interview Series.
We noticed the Australian personal finance community growing, mostly through our interactions on Twitter and we wanted to continue to foster this great camaraderie. We’ve reached out to as many Australian personal finance bloggers as we could and asked them to participate in our interview series. If you have any favourite Australian personal finance bloggers, tell us about them in the comments below and we’ll invite them to participate.
Next up: The Wealthy Bogan.
1. Tell us a little bit about yourself.
Twenty five. Engineering all-rounder. I used to live out in the sticks, until I moved out of home at age 17 to study at Uni.
I now live in Adelaide and am targeting financial independence by age 30.
- How did you get into blogging about personal finance? Was there someone (another blogger perhaps) or something that inspired you to start blogging?
I haven’t seen many who had become FI by 30 without an inheritance or some kind of windfall, so I want to show that it’s possible for the Average Joe.
3. What are your financial goals? Are you aiming for FIRE or something else?
I’m aiming for freedom. I’ve been poor my entire life, and have never held a permanent job. I don’t want to have to worry about money ever again.
4. What has been your financial journey? Did you start with a pile of debt? How have your finances progressed throughout the years?
I started in a new city with $500 to my name, living in a rat-infested block of 32 units in the bronx. Every other night my neighbours would get busted for drugs or violence or, occasionally, attempted murder.
Following graduation, I was lucky enough to land a part-time job working 8 hours a week. I instantly moved somewhere decent as my hours began to increase.
Everything was coming up Milhouse until my employer no longer had work for me – suddenly I couldn’t afford rent anymore. I job-hopped into a new role at 40 hours a week. I couldn’t believe my luck, the job gods were smiling down on me. It lasted 6 months, until the oil and gas industry shit itself and I ended up unemployed again.
Once the dust settled, I was called back for some reason, and I finally began saving – after 9 months I bought my first house for a mere $150K.
After a very cheap renovation, it was revalued 23% higher, and I bought a second. Since then, I’ve been investing in the stock market.
5. Do you advocate shares or property to build financial independence? Or both? Why?
Whatever works for you. Property allows you to safely leverage so it can be very powerful in a rising market.
I’m young, so if I lose everything, I’ll have time to rebuild. Property can be a great vehicle for growth, but the end game will always be shares (for income).
6. What is your personal investing strategy? Have you ever changed or reconsidered your strategy? Why?
My strategy is to jump on a good deal when I see one. It seems to be working so far.
7. What do you think the biggest challenge is for Australians seeking financial independence?
Awareness. The average person doesn’t believe it’s even possible. I get laughed at when I mention it.
8. Who has inspired you the most in your journey toward financial independence?
My parents. I’m about to overtake their net worth, which is horrifying.
They have always worked hard but took on too much risk later in life. I’m learning from their mistakes.
I just hope I will have enough money to help them if they need it.
9. Which do you think is more powerful: frugality or higher earnings? Why?
If you earn little but are frugal, you should still save something.
If you earn a lot but aren’t frugal, you’ll save nothing (lifestyle inflation and all that).
10. Has there been anything about becoming a blogger that you didn’t expect (good or bad)?
The fact that no one reads my blog.
11. What do you plan to do in retirement (whether early or on time)?
I’m going to play Age of Empires.
12. What’s your biggest splurge?
$7K on my V8. My old car had caught on fire on my birthday so I thought it was time to upgrade.
13. How do you think the Australian financial blogger community can grow? Do you think something like Fincon is viable over here?
Fincon sounds awesome, let me know if you need a guest speaker. Whether it’s viable.. well, there’s only one way to find out. A good guest speaker will draw the crowds.
14. Do people in your real life know about your blog? If so, what do they think? If not, why not?
No because I whinge about work a lot, and often post to my blog while I’m actually at work. Heh.
15. What’s your number one piece of advice for those interested in financial independence?
When seeking advice, remember that everyone is biased and/or has an agenda.
If you want to learn more, TheWealthyBogan.com is a top resource for financial independence 😉
Thanks so much for being an interviewee Mr Bogan! We look forward to sharing more interviews with you soon!
Do you like the idea of an interview series? Who are your favourite Australian personal finance bloggers?
Hey look, another Adelaidian! Given how small this place is I wouldn’t be surprised if it turns out we know each other through a friend of a friend of a friend (always works out that way!)
I’m curious when and where you bought a place for $150k – my 2bedroom place cost me $340k a couple of years back.
Hey there, I wouldn’t doubt it! It’s in Smithfield, bought in 2015. It’s actually not too bad! Where’s yours? 340K goes a long way in Adelaide
I like how you had to specify it’s “not to bad” in Smithfield 😀 I’m in West Croydon – it’s a super weird suburb if you’re every around. We have McMansions with boats side-by-side with boarded up windows and burnt out cars. Literally next door neighbours!
I’m 8kms out from the CBD, which is where the pricetag comes in
Nice one, that’s a good suburb, it’ll be nice once it’s finished. I wonder if I should’ve bought a home to live in but I do like the flexibility of renting
I like knowing the monthly costs (at least in part) go to my net worth 🙂
Although I hate that I have to fix my own leaky toilet. So that’s a thing there.
True, but when you rent your costs are fixed, easy to predict. I save/invest the money that would otherwise go towards the loan anyway. Did you buy your home with an investment mindset, or purely because you wanted it?
Because I have a cat and chickens! Haha, trying to find a rental that would accept them and was within riding distance of the CBD was an absolute nightmare! Once I realised I had the deposit I decided to buy instead. I did buy an ugly house with rental potential since part of the FIRE plan is to spend a few years overseas in cheaper countries, so the decision was a little bit brain, but mostly heart
Ha! What a great Aussie stereotype. I can’t wait for you to hit FI by 30 and show the world what an ‘average joe’ can do (though technically you’ll no longer be average).
I love these interviews, keep them coming!
Thanks for the encouragement!
I didn’t know this group existed! I’m definitely keen on meeting fellow Aussie bloggers.
Ha, I love Age of Empires too! Although I prefer the Age of Empires II more than the earlier or later versions.
I think it’s great (and sad I guess) that you’re about to take over your parent’s net worth..but you’re doing it. Congrats on getting on the property ladder so early, definitely a good call.