Money Stories: Sarah King
This week I’m featuring a fellow finance queen, Sarah King. Sarah is the Head & Client Care at Stockspot. She too is a Financial Coach and has over 16 years experience in financial services. She has spent most of her career working in financial advisory, operations and administrative roles. She holds a B.Business/BA International Studies from the University of Technology, Sydney and Graduate Diploma in Financial Planning.
Sarah is driven to improve the financial literacy of all Australians and to empower both women and men to challenge the status quo and make good financial choices! Sarah is also a qualified developmental coach and NLP practitioner. She presents on topics like beating imposter syndrome, self-leadership, financial wellbeing.
I’ve presented with Sarah on stage at events for Ladies Finance Club and have loved not only her fabulous sense of style (you should see her pull off a jumpsuit like it’s no body’s business!) but her down to earth money advice and real life experience. It’s my pleasure to introduce her to you and share her money story
What’s one of your earliest money memories?
I think it was from about 4 or 5 years old, always hearing Mum on the phone to my Dad, asking why he hadn’t sent her $20 (which was for our weekly child support). I didn’t really know what it meant back then, but I remember seeing how upset it made my Mum and it made me quite sad and upset.
How would you describe your relationship with money?
At this point of my life, it’s pretty positive, but it definitely hasn’t always been. I’ve spent a lot of my life being worried about money. I think growing up and seeing my Mum go through several marriage breakdowns over financial issues, made me feel insecure and worried about money.
It made me fiercely independent as I didn’t want to be a financial burden on anyone.
When I feel insecure or worried, I focus on all the amazing things my money has afforded me, like travel, education and living abroad, rather than what I don’t yet have.
I now feel in control of my finances and my future. I save, I invest, I don’t have debt, I’m building my superannuation. All of the good habits that make me feel positive, empowered and in control.
I feel that with patience, time and hard work, good things will come.
Was there a particular moment where you decided to make your financial wellbeing a priority?
My overall wellbeing has always been a big priority for me, because I’m someone who needs a healthy balance in life. That said, my financial wellbeing is something I’ve had to work on over the years to make it more of a priority, particularly the mental aspect.
Becoming a coach helped me see the negative narratives and feelings I had about money, security, my value and self-worth.
I know how to re-frame these narratives, to sit with uncomfortable feelings, a practice that gives me perspective and helps me to view my life from a place of abundance and positivity, rather than fear and scarcity.
What do you wish you could tell your younger self about money?
Money doesn’t define you and what you have to offer the world. But, it helps bring freedom, choice and opportunity in your life. For every dollar you earn, value it in terms of what future choices and opportunity it will bring you, as opposed some kind of instant gratification.
Set-up non-negotiable, healthy financial habits early, like saving, investing and always continue to live within your means.
What’s the best piece of money advice you’ve ever received?
Pay yourself first.
What’s your favourite thing to splurge money on?
It would have to be experiences like travelling to Bali and Thailand for yoga retreats, travelling through Europe, island-hopping and eating amazing fresh food!
Tell me about your proudest money moment?
When I realised that I’m completely in charge of my own financial destiny. It was a big wake-up call and an empowering realisation.
I started to set goals, seriously save, reduce credit card debt and invest for my future. I felt a kind of euphoria and sense of relief.
I now feel so proud that this is what I do for work, as an adviser, helping others to make empowered financial decisions.
If you won $100,000 what would you do with it?
I’d use $5,000 for a splurge island getaway with my fiance (to celebrate the win), invest $15,000 in a low cost ETF portfolio and put the other $80,000 towards a deposit for a dream home on the beach somewhere : ) !
How do you use your money as a force for good?
I try to make conscious choices with the things I buy, from groceries and cleaning products to clothing and appliances - doing my bit to protect the environment, reduce my carbon footprint and support amazing local producers.
We also sponsor two children in Uganda. Our monthly sponsorship pays for their education, school meals and health care. Seeing our sponsor children thriving, learning and growing is so rewarding and it’s completely life-changing for them. While I don’t have children of my own, I’ll continue to use what resources I can to help others.
I also choose to invest in my own health and wellbeing, particularly in things like yoga and eating well, so that I feel good, have a healthy mind-set, and have positive energy for those around me.
To get to know Sarah better check out her profile on Linkedin, Twitter & Instagram. You can also find her leading the charge on customer care and client advice at the roboadvisor platform Stockspot. You can also read an article by Sarah in Women’s Agenda on how women have everything it takes to make great investors.
This is article was originally published 29 July 2020