Saving Money Profile: Jennifer Nolan (30 Years Old, Married)
We are pleased to announce a new feature on Savings Guide where by we will be interviewing some of our readers. Get all the inside goss and see what others in similar positions to you are doing!
The first profile is from Jennifer Nolan, a long time reader of Savings Guide (you’re one of our fav’s Jen!). If you want to be featured in future saving money profiles, please contact us.
2 sentences about yourself:
My name is Jennifer, 30 years young (as of today… eek!!), married for 3 years to a wonderful man whom I’ve known for over 10 years. We have just bought our 1st home together (hubby already had a property which he bought with his brother years ago), so it is a very exciting time for us. Moving, although painful, is a brilliant time to de-clutter your life!
What was your first job?
‘Check-out chick’ at Kmart while I was at high school. That is actually where I met my husband – he was my line manager. We were the talk of the store after a scandalous Christmas party one year!
What do you do now for a living?
Office administration in a small accounting firm. I attempted some study to obtain an Accounting degree which I may eventually resume, however I learnt that external study is extremely difficult. It takes a lot of self motivation & dedication – cleaning the house can actually seem appealing when study is the alternative!
Are you a saver or spender? Why?
Definitely a saver. However, I wasn’t always this way. After lying on my application, I got my 1st credit card at 18, then a 2nd & a 3rd. Luckily, I didn’t get myself into too much trouble before chopping them up (even though the banks thought I was great & deserved credit limit increases).
The best thing I ever did for my savings was set up an ING account linked to my everyday account and set up an automatic savings plan. I never missed the money coming out each week, and as I became more excited by saving I kept gradually increasing the amount I would put away each week. Now I have been able to buy a lovely home – with a very sizeable deposit.
What motivates you to save money?
We may want to start a family in the next couple of years, so before that little bundle of expenses comes along, I want to save as much as possible. I would like to have the option of being a stay at home Mum until the kids go to school, or just doing some part time work if I wish. I want to feel financially secure every day, live comfortably, and be able to afford little treats.
Simply seeing the statement with all the interest I’ve earned can be great motivation. I think that everyone would be more motivated to save for their future if the Australian Taxation laws were changed so that interest is not included as income and we are not ‘penalised’ for trying to get ahead.
What was the best thing you ever got that was free?
I am a member of a few different ‘product tester’ organisations & survey sites. I have received yoghurts, chocolate, skin care products, cleaning products, cereals, juices, Coles vouchers, Bunnings vouchers, movie tickets and much more! All simply for giving my opinion & feedback. Everybody loves freebies!
What is your 10 year financial goal?
I would like to have an investment property within 5 years, and be thinking about a 2nd investment property in 10 years.
If you were given $25,000 – what would you buy?
I would put $10,000 straight into the mortgage, $10,000 into my high interest savings account (to think about uses while it earns me free money), and I would spend $5,000 on a well deserved holiday.
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