MUM WITH NET WORTH OF $770K SHARES SECRETS TO STOP OVERSPENDING: 'IT SOUNDS BACKWARDS BUT IT WORKS'
- Mum with net worth of $770,000 has revealed how she stopped overspending
- Queenie Tan said there are simple ways to enjoy life while spending less
A 'financially responsible' mum with a net worth of $770,000 has revealed three simple ways she stopped overspending without feeling like she's missing out.
Queenie Tan and her husband Pablo Bizzini have found different ways to build their fortune and grow their assets in hopes of securing their financial future.
The married couple, who own an apartment in Sydney, share a combined net worth of $770,000 as they currently have investments in the stock and crypto markets.
Queenie, a licensed personal finance content creator, said there are three tiny money habits she swears by that have kept her on top of her monthly spending.
The 29-year-old said enjoying life doesn't have to cost a fortune as it all comes down to the little luxuries - including takeaway coffee and gelato.
'This sounds backwards but cutting everything fun from your budget usually backfires,' the mum said in her Instagram video.
'When I was saving for my first home, instead of going out to eat for $50, my partner and I would go out for a coffee or gelato for $10.
'It was still fun but way cheaper.'
If you're looking to cut down on your spending, Queenie said one of the best money-saving habits is to set yourself a monthly challenge.
'This one is really good if you've been overspending,' she explained.
'If I feel like I've been overspending, I pick a few categories like clothes, eating out or beauty. And then I challenge myself to not spend any money in these categories for a month.
'My partner and I did this in January and we saved $3,000 in one month, which we used for our wedding.'
Finally, Queenie advised building a realistic budget that reflects your life.
'This is probably the most important one,' she said.
The easiest way is to keep track of what you're actually spending.
'I track my spending with Billroo (budgeting app) and then I ask AI to create a realistic budget based on my spending,' she said.
Last year, Queenie explained how building wealth doesn't have to be 'complicated' or 'time-consuming'.
'These are the three low maintenance ways I save money. They are simple habits that have helped me keep more money in my pocket without much effort,' the mum-of-one said in an Instagram post.
The first thing she did was put the couple's emergency fund into their offset account.
'I can't believe we didn't do this earlier,' she said.
'If you have a $500,000 mortgage, with a six per cent interest rate over 30 years and $50,000 in emergency savings just chilling in an offset account, you can pay off your mortgage five years faster and save $194,934 in interest.'
An offset account is an everyday bank account that's linked to your home loan. You can deposit your salary and savings into the account, and the balance then reduces the interest you pay on your home loan.
The finance expert said she and her husband earn extra cash by selling unused items around their home on Facebook Marketplace.
'Last year, Pablo and I made $6,011 by selling items we don't use anymore,' she said.
'We sold things like baby items, furniture when we were moving, camera equipment and a drone Pablo didn't use anymore.'
Queenie said she has set up a system where a portion of her income is automatically invested every four weeks, eliminating the need to do it manually.
'Each month 20 per cent of my pay gets invested automatically into EFTs,' she said.
Exchange-Traded Funds (EFTs) are a type of investment fund that is traded on a stock exchange, similar to stocks.
'Here's some math: $1,500 invested per month with an eight per cent yearly return turns into more than $110,215 after just five years,' Queenie explained.
The couple has already set up an investment account for their baby daughter Gia under their family trust.
On the day she was born in March 2024, Queenie invested $1,000.
The parents will continue to invest $1,000 every year on her birthday. Any cash gifts from friends and family will also be invested.
By the time Gia turns 18, she will have $41,000 in her account.
If she chooses to leave the money invested, the amount will roughly double every decade due to compound interest, making Gia $1.8million richer by the time she's 65.
'Investing is a great way to ensure our money is worth more over time rather than eaten away by inflation - and the rising cost of living,' she previously told Daily Mail.
'That's why I've started investing for Gia so she has a head start when she's a young adult.'
Queenie pointed out that living in Australia is expensive, especially with the rising cost of living and the housing market.
Putting money away for her daughter will hopefully give her a leg up on other major expenses later in life, such as higher education or a home loan.
Read more 2026-04-08T05:08:09Z