Money Magazine April 2022

Most people love giving their pets quirky names. Here in the office, one of my colleagues named her cat Stevens. Dave and Alison, a couple we interviewed for this month’s cover story, named their pet dog, Boss. Imagine the fun they have talking to their neighbours and friends about their beloved canine. But the name is perhaps fitting given their incredible success story. Dave and Alison may never have to deal with a terrible boss in their lifetime after becoming part of the financial independence, retire early (FIRE) movement. Thanks to their money skills, both have enough savings to stop working 9-to-5 while still under the age of 30. While the path to financial independence will differ for every Money reader, their experience, featured in our special cover story (pages 32-45), shows…

Most people love giving their pets quirky names. Here in the office, one of my colleagues named her cat Stevens. Dave and Alison, a couple we interviewed for this month’s cover story, named their pet dog, Boss. Imagine the fun they have talking to their neighbours and friends about their beloved canine. But the name is perhaps fitting given their incredible success story. Dave and Alison may never have to deal with a terrible boss in their lifetime after becoming part of the financial independence, retire early (FIRE) movement. Thanks to their money skills, both have enough savings to stop working 9-to-5 while still under the age of 30. While the path to financial independence will differ for every Money reader, their experience, featured in our special cover story (pages…

Letter of the month Couple keep their heads despite a windfall Reg stay’s Toon (February 2022) about an ring (“Do you ho have in any with cheaper stones?" – “We can do gravel” ) – took me down Memory Lane ... The young dating couple were joint winners in the lottery. But what to do with it? They took Monday off work and went to town. He bought a motorbike, she a stereo and a microwave, putting the balance in a joint bank account, and they continued with life as per normal. Down the track they got engaged and visited a jewellers to buy a ring. She picked out the ring she loved and then asked, “How much?” It was far pricier than they could have imagined, and she chose a more modestly priced ring. They…

Letter of the month Couple keep their heads despite a windfall Reg stay’s Toon (February 2022) about an ring (“Do you ho have in any with cheaper stones?" – “We can do gravel” ) – took me down Memory Lane ... The young dating couple were joint winners in the lottery. But what to do with it? They took Monday off work and went to town. He bought a motorbike, she a stereo and a microwave, putting the balance in a joint bank account, and they continued with life as per normal. Down the track they got engaged and visited a jewellers to buy a ring. She picked out the ring she loved and then asked, “How much?” It was far pricier than they could have imagined, and she chose…

SUSAN HELY Senior writer at Money. “I don’t budget. I know it is a golden financial rule but I avoid it. I’m sure I could be much better off if I examined my consumption so I can make better choices. I am so impressed by the rigorous budgeting of people on the financially independent journey, constantly shaving their spending and allocating money to what is important to them. I do believe it is the way to go.” DEBRA DUNCAN Senior sub-editor at Money. “Planning for a comfortable retirement seems to be high on everyone’s list, and it’s certainly not a bad idea. For me, though, it’s less about working towards retirement (who knows when I’ll retire anyway) and more about focusing on achieving financial independence. That way I might just…

SUSAN HELY Senior writer at Money. “I don’t budget. I know it is a golden financial rule but I avoid it. I’m sure I could be much better off if I examined my consumption so I can make better choices. I am so impressed by the rigorous budgeting of people on the financially independent journey, constantly shaving their spending and allocating money to what is important to them. I do believe it is the way to go.” DEBRA DUNCAN Senior sub-editor at Money. “Planning for a comfortable retirement seems to be high on everyone’s list, and it’s certainly not a bad idea. For me, though, it’s less about working towards retirement (who knows when I’ll retire anyway) and more about focusing on achieving financial independence. That way I might just get to enjoy the…