Marketing manager Queenie Tan shares six easy habits that helped her double her net worth

A 25-year-old marketing manager who gained a net worth of more than $450,000 in five years has shared the six easy habits that helped her to double her finances – and how they can assist you too.

Queenie Tan, from Sydney, said her financial success gradually accumulated after she started researching and investing when she was 19.

Queenie now has a diverse financial portfolio after purchasing her first property in 2019 worth $500,000 with a $100,000 deposit.

In her latest YouTube clip, Queenie revealed the simple financial habits that ‘transformed’ her net worth.

 

A 25-year-old marketing manager who gained a net worth of more than $450,000 in five years has shared the six easy habits that helped her to double her finances (Queenie Tan pictured)

The first – and perhaps most important – financial habit Queenie said has helped her grow her savings and investments is religiously tracking her expenses (pictured)

1. TRACKING HER EXPENSES 

The first – and perhaps most important – financial habit Queenie said has helped her grow her savings and investments is religiously tracking her expenses.

‘There is a famous quote that says: What gets measured gets managed, and I truly believe this,’ the 25-year-old said.

She and her boyfriend Pablo go through their expenses every month, and comb through exactly what they’ve spent.

‘Our electricity bill is usually $100 per month, but recently it was $170,’ Queenie said.

‘We figured out it was down to the fact that we were using lighting in our YouTube studio and not being too strict about turning it off.

‘We started turning it down and sure enough, our electricity bill decreased.’

Queenie said if she wasn’t careful about tracking all of the household expenses, she and Pablo would never have known.

The second thing to think about is price markups, which can save you a lot of money when you take them into the account over the long term (one example pictured)

2. CONSIDERING PRICE MARKUPS

The second thing to think about is price markups, which can save you a lot of money when you take them into the account over the long term.

‘The other day, we realised just how much popcorn can be marked up when it’s packaged in different ways,’ Queenie said.

‘We would sometimes buy popcorn in a bag for $2.85 per 100 grams, but when you compare it to the bag of popcorn kernels you make over the stove, this would only cost you 33 cents per 100 grams.’

Queenie said she has applied this logic to everything she buys in terms of products, and has found it has saved her a considerable amount over the years.

Queenie and her boyfriend Pablo (both pictured) only eat out or order food in once a week; otherwise they make all of their meals at home

3. MEAL PREPPING 

There are few people who have managed to save lofty sums without having to be frugal when it comes to eating out.  

‘Pablo and I still eat out once per week, but we do like to meal prep and make most of our food from home,’ Queenie said.

‘We look up the food we’d like to make that week, and then buy the groceries for the recipes.’

The 25-year-old explained that they use an app called Anylist to input all of the ingredients into their shopping list, and then mark things off as they go shopping.

‘We save a lot on food costs by making lots at home, as on average, restaurants mark up their food and wine by three times,’ Queenie said. 

‘Being frugal like this also makes eating out more enjoyable and more of a treat.’

Queenie recommends using the Half Price app to save money on your food bills, which shows you all of the half price items at Coles and Woolworths that week.

Queenie is also a fan of the Suncorp app, from which she purchases gift cards.

This saves the young couple three per cent off their shopping bill each month, which quickly adds up.

If you’re looking to save and invest more, speaking regularly to an accountant who you trust can help you reach your goals faster, Queenie (pictured) said

4. TALKING TO AN ACCOUNTANT

If you’re looking to save and invest more, speaking regularly to an accountant who you trust can help you reach your goals faster.

‘Talking to our accountant and giving as much information about us as a couple to him really helped us with our savings journey,’ Queenie said.

‘It can also be helpful to chat about things like planning for kids, planning for retirement, as well as investments.’ 

5. REVIEWING THE BUSINESS INCOME

Whether you run your own business or not, Queenie said you must review your income regularly.

‘Since Pablo and I left our jobs to become full-time YouTubers, we now rely on our business income, so we’ve started tracking this a lot more diligently,’ Queenie said.

‘We see what our business income is, and what our business expenses are, we make sure all of our invoices have been paid, and if we can reduce any business expenses, we do that.’ 

Queenie said they are adamant that they pay off their credit card in full every month, so they don’t run into any interest.

‘We also like to set aside some of our money to invest, and something that has helped us to automate this is setting up automatic investments – so we don’t think about it,’ she said.

Queenie and Pablo use Pearler, but you can also use other platforms like Spaceship and Raiz.

‘Calculating your net worth is a bit of a financial health check, or a financial audit to see what your progress has been,’ Queenie (pictured) said

6. CALCULATING HER NET WORTH

Finally, it pays to know about your net worth, and make sure you calculate this every few months.

‘Calculating your net worth is a bit of a financial health check, or a financial audit to see what your progress has been,’ Queenie said.

‘I’ve found doing this really helpful, as sometimes it’s easy to think we’re not getting very far in our financial journey, but then when we do a net worth audit, we find we’ve come a long way.

‘I think it’s so important to celebrate the money wins, no matter how small they are. As when you do this, you’re more likely to enjoy the whole financial journey.’

For more information about Queenie Tan, you can visit her YouTube channel here. 

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