Marion Mays, Founder of Money Strong Australia - Architect of Financial Education Content, Author, Speaker and Certified Money Coach Mentoring Women to Financial Capability and Security.

“As a certified Money Coach and someone who has spent her entire career in financial services, to be honest writing my own personal money story feels both raw and quite exposing…

I’ve always dreamed of a time that making our ‘money stories’ part of everyday conversation would become the norm, yet this article reminds me it’s not so easy to be open about how we personally do money and our level of wealth and risk the judgements or subjective perceptions of oneself that may follow.

To paint a picture of my background, I am the youngest of seven children. My mother was a midwife by profession and my father worked as a labourer in his day job, but at heart they were both free spirited artists working in oil paint, copper and a variety of mediums.   Essentially, our family lived on a modest income, endless love and paint fumes! Additional financial challenges came with having a sister with special needs and other family members with mental health conditions. These issues required additional care and dedication from my parents on top of being financially responsible for nine people: what absolute superstars they were!

Childhood Memories

We all have a story about how we grew up experiencing money, whether we were rich, poor or the ubiquitous ‘middle class’.  Yet my story is a little different: I really had no concept of where I sat in terms of my family’s socio-economic standing.  I attribute that to parents who valued family, love and art over material things.  Once a month my mother would take me to buy a new outfit or shoes, and so in my mind, money was just always there.   I remember feelings of having everything I needed and anything I wanted being accessible, so I really felt like I experienced an abundance-filled childhood.  I observed my parents’ playing money as a team sport.  They never argued about it but rather pooled their resources together and did the best they could with what they had; and what a great job they did!

Upon further reflection, I can recall that my parents never borrowed money, and we always lived within our means.  What that looked like was simplicity; a nice clean home, organic home cooked meals and enough money to feel like I was an equal with my peers. They spent a little money on a few indulgences, great quality dark chocolate, Sunday-best outfits, and in the early days, my British-born father drove a Bentley (as a labourer – go figure…)

I watched my parents simply living well with daily meaningful acts that make for a life well lived. Their philosophy was family first, food a close second and then the world and its variety of demands after that.  I was always told growing up (and witnessed in action) the following statements “there’s always enough to go round” and “there are always creative ways to make do with what you have”. 

That is the basis of my resonance with money, my true inner belief: and it is the place that I default back to as my baseline, especially in tough times.

Money Patterns & Relationship

My pattern of doing money (which is important to understand as our ‘pattern’ is more telling than our ‘story’ around money) has been consistent.  From a young age I had a weekly allowance, which I used to manage carefully and seek out ways to multiply.  I share with some trepidation my stint of “selling items” at high school – it not being my proudest moment. I realised that there was a need for a specific item everyone wanted at school and discovered I could buy it in bulk, then sell it individually and make money.  Needless to say, my little enterprise ended once the school and then my parents found out.  That short lived little business taught me the power of leverage at a young age - to take something and make more from it.

My relationship with money has always been healthy and positive. I like money, I respect money, I take good care of money, I appreciate the freedom money gives me and I treat it like it’s my greatest friend and companion.  To not value what we have and not care for it, to me is the greatest failing we can make with our money.  What I’ve come to understand more so as an adult and after enduring three significant and challenging life events, is that I absolutely love the safety, security and certainty that money provides me.

Investment Journey

I began investing in real estate in my early 20’s, mostly in commercial property and then venturing into residential real estate.  I learned early about making the financial sacrifices necessary to get a foothold in the property market, getting advice to ensure I made sound investment choices, and then leveraging those assets to grow my portfolio.

Whilst I invested in shares also, at that time they were not my asset of choice.  I have never been a fan of personal debt (as opposed to investment debt), it has always felt like an unnecessary impediment, meaning I couldn’t look confidently to tomorrow because I was still paying for yesterday’s decisions. As a result, I have always lived within my means and that has often meant buying quality over expensive designer status items. 

Life’s Unexpected Challenges

Having navigated the unexpected and heartbreaking loss of my parents in my early 20’s, life has taught me to be prepared. As a result, I have always been responsible in ensuring I have adequate insurances, emergency funds, no debt and savings, should the unexpected happen.  A lot of my work with women and men in their prime is about helping them be totally prepared for unexpected challenges.  I believe that true security requires various levels of financial safeguards that protect and carry us through in difficult times.   I also believe - as boring as it may sound – that safeguards enable one to have freedom of choice to leave the job/partner/place/situation that is not serving us, exactly when we choose to.  

Life is so short, and to be constrained in living our best life because we have limited money, is in my view both unnecessary and a tragic waste!

Money Philosophy

Philosophically I believe that money is just a construct that mirrors our energy, efforts and the value we create in the world.  So, whenever I wish to attract more money, I ask myself, how can I be of greater service? How can I add more value? How can I best apply the commercial actions that are required?

I am particularly generous with my money, be it shouting dinner, buying carefully chosen quality gifts or donating to someone more in need than myself. I believe in the philosophy there is always ‘enough’ for everyone, and to that end I have gifted my car to a woman in need rather than trade it in during the pandemic and passed on expensive personal items to friends and strangers rather than sell them.  I truly believe that if I have had good use of something, then the joy in passing it on, exceeds the monetary benefit of selling it.

Money Habits & Indulgences

As a money mentor, I am asked all the time about what I do with my own money, so here’s a look at my habits these days when it comes to money.

Well, firstly I earn it with ease and always have enough. I invest on a regular basis, be it in property or shares, businesses, or other opportunities.  On a more personal level, I spend a lot on things which are super important to me (values aligned) :

·       Ongoing education and courses as I believe you should never stop learning or improving your skills

·       Health-related spending on gym memberships, classes, medical treatments, alternative health practitioners

·       Organic food and drinks, dining out

·       Experiences such as mini holidays, beauty treatments and cultural experiences

·       My big indulgence is buying eco-friendly everything: organic cottons/linen, low tox furniture, living and kitchen items and plants

·       Another indulgence is anything my four-legged bestie, Kai the border collie needs (or I convince myself he needs such as organic treats!)

Without question I have had a few times in my life, where there was no money available and I went into panic/scarcity mode, but I soon realised that operating from that mindset, it is really, really hard to change things.   I have also had times of living a very wealthy life where money was no object. And finally, I have lived in times of limited resources where I’ve had to watch my pennies closely and justify every purchase.

The place where I feel most comfortable (known in my business as the range of resonance) is having more than enough, with multiple income streams.  That’s my sweet spot, and I’m always curious to ask others, what’s yours?”