8 Things I’d Tell My Younger Self About Money
8 Things I’d Tell My Younger Self About Money
Hi, I’m Gemma, financial adviser, wealth coach, author and co-host of the Australian Finance Podcast, one of Australia’s top personal finance podcasts.
I’ve spent over 20 years in finance, and from the outside looking in, I ticked all the boxes for being “good with money”. I budgeted. I saved. I invested. I made sure my money worked as hard as I did. But truth be told, there was a lot happening under the surface that didn’t look as tidy as my spreadsheets.
In my book The Money Reset (Pre-order your copy here: amzn.to/42Uz0aK), I talk about the stories and habits we build around money, and how sometimes those stories need a bit of a rewrite. So now, almost 40 and with two decades of experience (and plenty of personal lessons too), here are eight things I’d tell my younger self if I could go back.
1. You don’t have to go all or nothing
I had this pattern where I’d go really hard at saving or investing, then completely fall off the wagon when life got in the way. It was exhausting. What I’ve learnt since is that consistency beats intensity. You don’t need to go big, you just need to keep going.
2. Sustainable habits matter
Budgeting apps, spreadsheets, goals… they’re only as good as the habits they support. I used to chase the “perfect” system, but I’ve learnt that what’s sustainable for me is the key. Find what fits your life, not someone else’s.
3. You don’t need a new car
Ah yes, the $20,000 car loan at age 20 that I didn’t need. I already had a perfectly good car that I’d paid cash for, but I fell into lifestyle creep. That idea that more income means more spending. I had a new job so I could afford the repayments, so I thought, why not? What I wish I did was keep that old car.
4. Listen to Dad
I remember being in a car yard (yes, another car mistake) and calling my dad to say I was about to buy a second-hand petrol Prado. “Don’t do it. The fuel will cost a fortune,” he said. At the time, I brushed it off… “How bad could it be?” I thought. But he was right. It wasn’t even 12 months later and I traded it in. And this was before fuel prices were as ridiculous as they are now.
5. Calm down with your first bonus
I got my first bonus early in my career and went a little wild… I bought a designer handbag. In fairness, I had it for over a decade and loved that bag. And yep, I still have a soft spot for luxury handbags, but these days I do my research, set goals (the bag is the reward), and make sure the rest of my finances are on track first. Back then, that bonus would’ve been better used paying down my credit card or car loan, or just covering bills.
6. Starting early matters, but so does sticking with it
I opened a managed fund when I was around 20. Impressive, right? The plan was to contribute $500 a month, and I did… until I panicked when the market dipped. I stopped contributing because the balance didn’t seem to be growing, and eventually withdrew the tiny amount I had left. What I didn’t realise was that downturns are buying opportunities. Those units were basically on sale. I wish I’d stuck with it.
7. Stay at home as long as you can
I moved out at 16 with a friend. It taught me a lot and gave me independence, but it was financially tough. I remember stressing about rent, groceries, and trying to keep up a social life. It was fun and I loved that time, but I’d still tell younger me: stay at home as long as you can. Stay home and save.
8. You don’t have to be perfect
The pressure I put on myself to be “good with money” because of my job? Huge. I felt like I had to have it all together because this is what I do for a living. I help others with money. So what would it look like if I failed with my own? Or let my family down? That pressure, and yep, I still feel it sometimes, was heavy. I wish I’d learnt to have a bit more balance and compassion for myself earlier on.
The biggest thing I’ve learnt, and something I work through with clients all the time, is that just because you’ve done something a certain way doesn’t mean you’re locked in. You can change your mind, pivot your goals, or take a new path. In fact, you should. Life changes, and you can too.
The Money Reset is available for order now.
If you’re ready to strip things back, simplify your money and build a strong foundation (or rebuild after life’s curveballs), this book is for you. Real stories, expert guidance and practical steps. The Money Reset helps you create a money plan that works for your life now.
Gemma x
Pre Order The Money Reset here: