Sometimes, you can be doing everything right with your money – ticking all the right boxes, putting in the hard work- only for life to throw you a curveball. That’s exactly what happened to Caroline during the Global Financial Crisis (GFC).
At the time, she and her husband had a thriving business, a family home, and felt like their financial future was on track. But when the GFC hit, everything they had worked for disappeared seemingly overnight.
“It was a very, very destabilising moment in time for us,” Caroline recalls.
Rebuilding from the ground up
Eventually, Caroline and her husband found stability again through steady employment. Their income was good, and they felt their financial literacy was up to par – but despite their efforts, they couldn’t seem to get ahead.
That’s when they turned to enable.me. They wanted to get back into the property market as quickly as possible and start building wealth for retirement. What they needed wasn’t more knowledge, but a clear strategy.
“The first step was to talk about their goals and what a happy life looked like to them,” says Dianne, their enable.me coach. “We also identified their non-negotiables – the things that align with their values and lifestyle. These had to be included in the plan for it to be sustainable.”
Turning focus into action
With a clear plan in place, Caroline and her husband became laser-focused on home ownership. Within two years, they had saved a deposit – but what helped accelerate their progress was committing to a new-build property.
“With some new builds, you can secure the property off the plans before the build is complete – even if you haven’t finished saving the full deposit,” explains Dianne.
“That gave Caroline and her husband a firm deadline and the motivation to stay on track. Because they had strong incomes and the discipline to follow their plan. While there are risks involved with doing this, their numbers stacked up and the risk was balanced.”
For Caroline, having that clear goal – and a date they needed to hit – made all the difference.
“We knew exactly what we were working towards, and that made it easier to stay motivated. It didn’t feel like sacrifice; it felt like momentum.”
While that first home wasn’t their forever home, it was the crucial stepping stone. Later, they were able to upgrade to the dream home they’d envisioned from the beginning.
Cutting the fritter
While they didn’t give up what mattered most, the couple did have to make changes. By tracking expenses, they discovered just how much was being frittered away.
“There came a time where I noticed coffee outings added up to around $400 in one month,” Caroline admits.
But the solution wasn’t to cut coffee completely.
enable.me coach Karen Beckham explains:
“Coffee is important for many of our clients – not just for the caffeine, but for the ritual and the social connection. So, we aim to include it in the plan. What becomes a slippery slope is the third or fourth coffee in a day – it’s probably not adding much happiness, but it is adding cost. Cutting back there frees up surplus without losing the joy.”
Where Caroline is now
Fast forward 10 years, and Caroline and her husband are still working with Dianne at enable.me to shape their financial future.
Caroline says the biggest shift has been learning to be more intentional with money:
“I’m more conscious around spending now. I plan for big purchases, and I feel in control. Of course, there may still be curveballs, but most of our major spends are now planned for.”
Now, with her eyes on retirement, Caroline feels confident about the years ahead:
“As long as I stick to the plan, I’ll be able to enjoy the retirement I’ve worked hard for.”
Her advice to others starting from scratch?
“Don’t be afraid to reach out and ask for help. Even if you’re an expert in the field, a third party can reveal blind spots in your own situation and give you clarity.”
Want to hear more about Caroline’s journey? Tune into the Where’s My Money? podcast:
Ready to take control of your finances? If you’re at ground zero and need a clear path forward, an enable.me coach can help.
