The Inside Word #5 – Patti from Pattionthemoney

In my fifth instalment of The Inside Word, I caught up with Patti from Pattionthemoney. Patti is a super impressive woman spreading some empowering messages. I’m certain you’ll take a couple of gems out of this one! Anyway, enough from me, let’s get into Patti!

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Something About Patti

Hi, I am Patti, I am a 30 something South Pacific islander living in Sydney, with my partner and our 19-month-old daughter. I have always had a passion for finance, especially microfinance and more recently personal finance.

As a fresh-faced 17 year old International student, I migrated to Australia to study finance and design and once I graduated I went on to work in the tech space before quitting to make films. I have always dabbled in the creative industries and quite often found my passion for social business and story-telling (film making) crossing over, which led to travelling the world and living overseas for a stint.

Hiya Patti! Welcome to The Inside Word. Let’s kick off with a speed round ⬇️

1. What’s your coffee order? 

Almond latte (haha).

2. Early Riser or Night Owl? 

Trying to be an early riser with an 18month old toddler. 

3. Beach or Countryside?

 Oh, this one is hard, like both but maybe more a beach.

4. Audiobooks or Physical Books?

 Physical books, I love to put post-it notes (IKR nerd haha).

5. 3 People you’d invite to dinner? (Dead or Alive) 

Nikola Tesla, Ghandi and Dolly Parton

6. One piece of advice you’d pass onto your 20-year-old self? 

It’s not what you say, it’s how you make them feel. Remember to always be kind.

1. Most people in the Aussie finfluencer community work a day job. How do you spend most of your time? 

Oh, I wouldn’t say I am a Fin Influencer haha, I am just a new mother sharing my financial literacy journey. I work in the tech space currently as a project manager, I love what I do and enjoy learning new things without and outside the industry.

2. Can you tell me more about your IG page @PattiOnTheMoney, and what inspired you to start sharing your money journey?

The main inspiration was about representation or rather lack of or under-representation of People of Colour (PoC) creating personal finance content and sharing their financial independence journeys. It was evident on social media that there were a lot of American POC creating content, yet hardly any in Australia. This was a glaring representation of the divide and systematic oppression POC in Australia face, whether they are First Nations people or Immigrants to Australia, which I was. 

Creating this page was a big deal for me, as a woman of colour (WOC) I understood the barriers of entry such as gender wage disparity, higher cost of living, less access to opportunities due to subtle discriminations within the workforce and cultural nuances. I truly wanted Pattionthemoney to be a lifeline for all POCs in Australia across all stages of life, whether new to Australia or becoming a parent or starting higher tertiary education. I also acknowledge that being on a journey to FIRE is an absolute privilege as not everyone can access the luxuries we do (free healthcare, welfare system etc). I’m passionate about people learning to free their minds from the ideals of consumerism and learn to live an abundant life through financial literacy.

3. What’s your approach to your own personal investing, do you follow a certain strategy or strategies?

Honestly, my investing strategy is boring, I just pay myself every payday and put that money into automated brokerage for my ETFs and Crypto portfolios.

Ideally, I would like to have that elusive $100K Brokerage goal ticked off my to-do list but other than that, just very boring. My partner and I keep our investing portfolios separate but share costs for our investment properties.

4. Currently the Australian gender pay gap sits at a shocking 14.2%, and you’re rightfully passionate about closing it. What do you think can be done from a policy and individual level to improve the gender pay gap?

I don’t think there is one simple solution for it, as it stems from a societal divide based on the traditional gender stereotypes that exist within Australia. As a starting point, transparency is crucial, on all levels from policy to individuals. If it was a societal norm to openly share one’s salary and salary expectations, more women and men could feel comfortable disclosing their numbers. 

There are agencies such as WGEA and Women’s Agenda that are doing an amazing job at advocating for transparency and inclusion. Their work in keeping governmental bodies accountable and shaping an inclusive message is imperative for the cause.   

From a legislative perspective, governments should be encouraging more businesses to adopt CSR practices that mandate a policy of diversity and inclusion (with a balance of genders within all levels of leadership). When there is transparency within the upper echelon of corporate Australia and Government, I believe we can hopefully come together to close the gaps of gender pay inequality as it is an essential part of future proofing the country’s workforce.

There are more women in the workforce than ever before and we should seek to empower them.

5. As a Mum, how do you think about instilling good financial habits into your child?

Yes, I came from a developing nation and my parents struggled for many years before they could hold their own. What I learnt from their example was their work ethic and their empathy for others. My parents often supported other family members even when they had little and also extended to help neighbours.

I believe it is that cultural nuance of community living and support that I would love to instil in my daughter. She has so much privilege already, being born in Australia and having a White European father, she will have doors open to her more than I ever did.

I hope to teach her about living below her means and giving to others in need and less fortunate. I hope to teach her the best of both worlds, being Islander and Australian.

6. You recently started investing in the stock market with @Pearler. What’s the biggest lesson you’ve learned so far?

I am all about DCA, so their auto-invest feature is amazing! 

7. What’s been the best thing you’ve done to help solidify a secure financial future for your family?

I would say setting up a Financial plan, we currently have a 5-year plan and hope to expand that to 10 years. I am a bit of a planner by nature and my partner is happy for me to lead this as he is a more go-with-the-flow kind of guy.

8. Do you have any must-read books you can recommend to our readers? (These don’t need to be associated with finance and/or investing)

I have two that I love so much, Peter Singer’s book – The Most Good You Can Do and Peter Thornhill – Motivated Money. Both these books have changed my money mindset. I love Peter Singer’s book as I am a student of the “The School of Life” – I have attended lectures and talks about effective altruism and I am truly passionate about social business and the most you can do as a citizen of the world. 

The other, Motivated money by Peter Thornhill, I am obsessed with as it has shifted my investment goals from Property to Shares. The book outlines so many ideas that I have naturally adopted over my working life such as living below my means and borrowing less than I can afford. The best takeaway from the book is the principle of Debt recycling, which Peter has cajoled me into implementing into our mortgage strategy.

For more of Patti, Follow her on Insta @pattionthemoney, and while you’re at it, why not throw me a follow @themoneypal.

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Disclaimer: This website (the “The Money Pal”) is published and provided for informational and entertainment purposes only.  The information in this article constitutes the interviewees own opinions and it should not constitute personal advice nor any formal recommendations.

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