Posted: Aug 31 2016
As many of you may have already heard me confess, I was inspired to start a dress rental business after realising I had spent the equivalent of a first home deposit on designer dresses. I owned 46 dresses which I had only ever worn once, and 2 that I had never worn at all. All of them hung in the back of a wardrobe at my parents house.
I wanted to build a business that would ensure no other women would end up in the same position. A business that would allow women to wear a beautiful new dress to every occasion without losing control of their financial situation.
While Her Wardrobe quickly became a vehicle for other women to save $$, I found myself still struggling to keep up with monthly expenses such as rent, grocery shopping and electricity bills. In the first year of starting Her Wardrobe I went from a full-time salary, to a part-time salary to living off a very small income that I took from the business each week. I had access to an unlimited wardrobe, and yet felt more broke than ever before.
In July, a fortuitous connection with MyBudget on Instagram led me to meeting with the their founder Tammy Barton, who claimed to have had a hand in helping over 50,000 people across Australia take control of their finances. It sounded like something I was in desperate need of!
I met with Tammy over chai lattes and we chatted about her journey and the exposure I had to women who were choosing to rent rather than buy so that they could save for their first home, or dream wedding. We chatted about my financial predicament and decided I needed to start the MyBudget program right away.
What would that entail? Well, at the time I didn't really know. But after having my first meeting just last week I can tell you it was amazing!
Take a look at the video below to find out more about my first budget planning session, and stay tuned for more updates.