Money Stories: Rhiannan Jenkins
Rhiannan is a licensed property buyer’s agent specialising and living in Sydney's Inner West. Her passion for property developed whilst researching and investing in property herself. She has helped many buyers realise their ambitions of purchasing in Sydney's competitive market. Rhiannan’s talents have been recognised in the industry with her recent nomination as a finalist in the REB’s Rising Star of the Year Awards 2022. Rhiannan’s years of real estate experience and a successful corporate background in HR have helped her develop deep-seated skills in relationship management, influencing and negotiating, which ultimately translates into valuable interpersonal and analytical skills for her and Hunter James clients. Today she joins me to share her personal money story.
What’s one of your earliest money memories?
My earliest money memory was learning to save! I earned a few dollars pocket money each week and learned pretty quickly that if I wanted to buy the big stuff (clothes, games and toys back then), I needed to save up and that takes time (and patience). I've taken this lesson with me through life!
How would you describe your relationship with money?
I would say I have a sensible relationship with money (as boring as that sounds!). As you may gather from above, I'm a big saver. This mentality has allowed me to invest in property and squeeze in a couple of overseas trips. My relationship with money is evolving, however. I'm at a stage where business is growing and I have a puppy, so my time is precious! This means I'm more comfortable to spend a little more money in areas that make life a little easier and by saving time and energy (hello grocery deliveries!).
Was there a particular moment where you decided to make your financial wellbeing a priority?
From my teenage years I wanted to invest my money early on. I saw how hard my parents worked and it taught me that a strong work ethic was important to get you places. I was also determined to work in a field I was passionate about. This way I could enjoy dedicating my time and energy to work, to both build a career and build income to support investments elsewhere.
If you could turn back time, what would you tell your younger self about money?
Don't be in a rush to make decisions when spending your money. Explore all the options of investing, travel, career, family and decide what's most important to you. What's the cost of each option? E.g. buying property to live in vs. invest is a big decision, and if life circumstances change, what impact could that have? It's so important to take action, but I think it's just as important to stress test your decisions.
What’s the best piece of money advice you ever received?
Have a buffer! If things don't go according to plan, try to cushion the fall by having a buffer in place. My view is, if I don't have the cash to cover the upfront costs (and some buffer for hidden costs), then I can't afford it
What’s your favourite thing to splurge money on?
Holiday spending money! If I've made all the effort to plan a holiday, then I want to enjoy it. I want the complete tourist experience and enjoy the glorious food, tours and shopping!
Tell me about your proudest money moment?
Buying my first investment property. It was a nerve wracking moment of signing the paperwork, but it was also so empowering! Especially being a young female entering the real estate world and navigating those tricky negotiations. I felt very proud.
If you won $100,000 tomorrow, what would you do with the money??
Invest! I would sit down with a planner and look at where I should be investing. But I would also keep some aside for a trip to Europe and maybe a couple of weekends away and invite the fam.
How do you use your money as a force for good?
I've directed some of my investments to support ethical companies. It's important to me to support more ethical and sustainable businesses. So I started to look into where I was investing my money and see how I could make more of a positive impact. I also try and support local businesses where I can. This can sometimes mean paying more for something, but it's important to support the local community where I can.
If you want to learn more about Rhiannan or perhaps engage her to help you find your dream home you can find her on instagram as @Rhiannanjenkinsbuyersagent or on Linkedin. Rhiannan is a representative of the Hunter James, a buyers agent and property advisory group. Hunter James was the winner of the REB Buyer’s Agency of the Year in 2021 and have been finalists of the REINSW excellence awards consecutively for five years from 2016-to 2020.