[00:00:06] Viktoriia Miracle: Hello. Hello and welcome back to happy time happy money podcast and today we have Emily Keable. She is a personal finance addict and millennial working mom from sunny Queensland, Australia. She's special about helping women understand and take control of their finances to change the future of financial literacy.

[00:00:31] Emily uses her own budgeting and investing journey to help others learn along with her and has an unmatched passion for compound interest, don't get her started at parties. Hi and welcome Emily.

[00:00:49] Emily Keable: Hi thank you for having me.

[00:00:50] Viktoriia Miracle: Good to have you here from such a far away in Australia.

[00:00:55] Emily Keable: Yep.

[00:00:55] Viktoriia Miracle: So awesome. I would love to hear more about how you started this journey and what brought you to where you're at right now.

[00:01:03] Emily Keable: Sure. Well, I have always been interested in money even from a young age, but I always felt that, we, in my family, we talked about money from sort of a scarcity mindset. I'm the oldest of four. My mum was a stay at home mom and we sort of were always in that mindset of, we can't afford this, that we can't afford that.

[00:01:23] And you need to scrimp and save for everything that you want to achieve in life. And as I got into my twenties, I got married and started having children. I always thought there's gotta be more than this. You know, there's gotta be, I shouldn't have to work until I'm 65 and then only have my retirement savings to live off.

[00:01:42] There's gotta be a better way and I was reading and looking at listening to podcasts, looking at websites, and I started learning about investing and Property investing. We had an investment property at that time, but I didn't really realize the potential of that I could invest and make that, that money could support me later on.

[00:02:04] I didn't really understand what I was doing. So since I started learning about that, I started up my Instagram and I wanted to, I wanted to share what I was learning because I thought. I'm really interested in this and this is going to change my life. Then surely there are other women out there who are thinking the same thing as me and going this, this can't be all there is, and they might want to learn about it too, and learn about investing and get the confidence to start investing and start creating generational wealth within their families.

[00:02:40] I was particularly interested. I speak specifically to other women like me with young children, childcare and all the things that come with kids and schooling means that wearing a really expensive season of life. So it can seem like there's never enough money for any. But by budgeting and investing for later, we are able to have a good life now, but also be taking care of our future and our children's futures.

[00:03:08] So that's sort of, what's got me to this point now there's wanting to share and teach and encourage other women to ensure that they're looking after their lives now. But looking after their lives, in the future and being, you know, looking past, having kids, once they grown up, you know, we want to retire and have lots of income coming in and, and live a good life before we get to 60, you know..

[00:03:32] Viktoriia Miracle: I absolutely agree. I feel like we get to live throughout the life and after we retire and I mean, it doesn't have to be from you. Like, I always don't get it. Why people want to retire and do nothing. It's kind of doesn't make any sense like, why would you not want to do anything? Because you're so exhausted working throughout the whole life.

[00:03:52] And then you're like, oh, I can't do anything and I mean great if you have money saved up, but it's like, it's really not great. In Russia, it's not a really good, how would I call this? It's like, it's, it's like, my heart is breaking when I'm looking at the older population of ours and it's just, it's, it's really sad.

[00:04:13] Emily Keable: Yeah, like I know that older, older women are one of the, it's one of the fastest rising demographics of homelessness because they get to, they get to an older, I, you know, maybe they've taken time off to raise children or they've gone back part-time, they've taken a lesser paying job while they've been married and then a divorce happens or, you know, something happens and they're left in such a disadvantaged position.

[00:04:37] You know, women should, our entire lives should have the confidence to be looking after our own finances. And knowing that if something would have happened, we can, we can support ourselves is there's backups in place. We don't have to rely on somebody else to look after us.

[00:04:51] Viktoriia Miracle: Yeah. Absolutely. It's like, well, but you and me are much motivated around that, but like, how can you stay right when you're younger and then you like, let's say you have a number in your mind. Let's say for me to millions of dollars, right. That that can have like monthly, a temperate soundly. Oh, coming in of the year. And that is a stable. So how do you see motivated throughout the 30 years? Like what would you do?

[00:05:15] Emily Keable: Oh, I'm lucky. I suppose I love money.

[00:05:17] I love seeing it build. I think just getting started, just making those tiny little steps early on and watching that compound interest, you know, you look at those calculators online where you say I'm going to put in $200 a month and at a six or 7% return in the stock market. You start seeing those numbers ramp up over 30 years, you will be astounded like compound interest is magical and that, that helps motivate me. I think looking at that number and going, if I just put this little bit away each time. It's it's mind blowing how much that will turn into in 30 years. And knowing that the sooner you start the smaller, that number has to be, and it's so manageable, if you can start early, but it doesn't matter if you're 30, 40, 50, that compound interest is still going to help you.

[00:06:09] Time is the most important thing, but just getting started can really motivate you and knowing what lifestyle you want. At the end of that savings journey, or if you just want dividends coming in, you don't have to retire when you reach your number. You know, we don't plan on retiring at 50, but by the time I'm 50, I want the option to retire.

[00:06:32] I, my parents and my in-laws are both in their fifties. They're all working full time and they don't love it. So I look at them and I go, maybe I don't want to work when I'm 50. Maybe I do. But. I want the choice. I want enough money coming in.

[00:06:49] Viktoriia Miracle: It's good to have an option. It's good to have an option, right? So what do you see? Number one, mistake that people making in their financial journey?

[00:06:57] Emily Keable: Being too nervous to start thinking, they need to know everything before they start investing, particularly can be very overwhelming. And I spent a lot of my younger years feeling like investing in the stock market, investing in shares or in property is a huge gamble.

[00:07:17] And I will lose all my money with a bit of research and a little bit of some blind courage. You know, you don't have to invest your entire life savings in the stock market. Start off with $500. There are micro investing apps out there where you can invest $5 a week and watch it grow. You know, so it being to saying, I'll invest when I earn more money or I'll invest when I know everything about it.

[00:07:46] I'm too nervous is a huge mistake because just letting, putting that money in and letting it sit there is what helps it grow over time.

[00:07:57] Viktoriia Miracle: So just putting it. So what is the most, like most important aspect of managing money?

[00:08:04] Emily Keable: I think I wish, I wish it was more exciting to be honest. The most important thing you can do is make sure that your expenses are less than your income and that's that's it. So you do that by tracking your expenses and you can do it manually with an Excel spreadsheet, or you can do it.

[00:08:24] There are lots of apps out there that will track your spending for you and categorize it. But knowing how much money you have coming in and knowing where that money goes so that you can prioritize your savings, your investing, your wealth creation over other things are nice, but might not be important to you right now, or might not be important to you down the track is the most important thing you can do to take control of your money and build the life that you want down track.

[00:08:53] Viktoriia Miracle: Love it. Thank you so much. Well, I feel like that was so helpful and to our audience. Thank you so much. I know you have, oh, that last question that I almost forgot that I always ask them each episode is I wanted to fill in the blank for me.

[00:09:08] Emily Keable: Okay.

[00:09:09] Viktoriia Miracle: So the sound question sound like this. If you really knew me, you will know that I am blank.

[00:09:17] Emily Keable: If you really knew me, you will know that I am just obsessed with building a good life and teaching others how to, how to build it as well, because everybody can do this. Everybody can build the life that they want.

[00:09:31] Viktoriia Miracle: Absolutely. All right. I know you have an awesome free gift for us today for our audience. Can you tell us more about it?

[00:09:39] Emily Keable: So as I mentioned, tracking your expenses and knowing your income and expenses are it's the foundation of managing your money. So I have put together a little spreadsheet. It's just a little Excel spreadsheet, but it's very customizable. So you can go in and track weekly or monthly or whatever feels right to you.

[00:09:57] And it just gives you an idea of the different categories and gets you started and gets you thinking about where your money is going and how to, how to be mindful about where your money is going.

[00:10:08] Viktoriia Miracle: Awesome. Well, super good. Thank you so much and if you're listening or watching to this episode, just scroll down.

[00:10:16] There's going to be a link to our vet page of this particular episode, where you can go and find all the links that were mentioned in this episode and get connected to Emily or me. I would love if you love this podcast, please do rate us, leave a review and that will warm our hearts.

[00:10:35] Thank you so much, Emily for coming over and thank you so much for listening and watching, and I'll see you in the next episode.

[00:10:44] Bye.