I couldn’t even afford nappies as a single mum – but I turned £2.50 into £8,000 in two years & bought 3 houses
A MUM who struggled to buy nappies as a single parent has revealed how she turned £2.50 into £8,000 in just two years.
Australian Courtney Lorking was working as a personal trainer and a mechanic after daughter Jordyn was born in 2019.
Money was extremely tight for the New South Wales mum, but things started to look up when she got a full-time marketing job.
With the stable income, Courtney was able to teach herself about investing and she’s managed to turn her finances around.
She started her stock portfolio by investing just £2.50 onto the sharemarket.
Over the past few years she’s invested £7,219 and her portfolio is worth £8,760 thanks to shares in major banks and supermarkets, via New Zealand stock platform Sharesies.
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Speaking to Femail, Courtney said: “I tried anything to make money quickly. I hustled and worked. I prioritised learning about investing and building my portfolio.
“Sometimes I couldn't even afford nappies. It was a really hard time and I never want to get back to that point.
“I signed up and it was so easy to use and wasn't scary. I started investing small amounts and over time became more confident.
“Investing makes me feel like I'm really building a financial future and working towards something. It's so empowering.”
Courtney launched her own marketing agency four months ago, and she makes it a priority to invest at least £51 a month.
The mum has now dabbled in property, and managed to get her first three-bedroom property in 2019 for £273,301, where she now lives with her daughter.
With the help of a buyer’s agent, she got her second property for £273,301 in Melbourne, which is under construction.
Sometimes I couldn't even afford nappies. It was a really hard time and I never want to get back to that point
Courtney Lorking
Last year, she secured her third home for £247,515 in Perth, which is also being built.
Courney said she is grateful for having struggled as she doesn’t know if she would be where she is today without it.
She also advises “starting small” and making it a “priority.”
Saving cash is tougher than ever, but investment expert Laith Khalaf explains how to turn a tenner a month into a £10,000 nest egg.
Investing: know the risks
INVESTING is a risky business.
It's not a guaranteed way to make money. You cash can always go up as well as down.
Make sure you know the risks and can afford to lose the money.
Before investing you should check the Financial Conduct Authority's register and check its list of firms to avoid.
Brits are being clobbered by eye-watering bill hikes, but putting aside just £10 a month - the price of three takeaway coffees - could help you build up a sizeable savings pot.
If you’re saving for anything you want beyond a five-year period - for example, your retirement - then you might want to look at stock market investments.
Laith said: "You can't predict what the stock market will do in the short-term, so investing for one year is no better than tossing a coin.
"But over the long-term, history has shown the stock market delivers bigger returns than cash more often than not."
Investing newbies need to do their research though - and you should never put money in something you don't understand.
Beginners should look for lower-risk options such as a mixed-asset fund, which invests in a variety of different things like property, company shares and bonds.
You also might want to consider investing in a tracker fund, which copies the performance of a chosen stock market, such as the FTSE 100.
These often have low fees and are simpler to understand than many other investments, Laith said.
One of the advantages of investing in the stock market is you can get higher returns than investing in a cash account.
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Laith said: “If you invested £10 a month in the stock market and achieved 6% growth every year, then after 10 years you would have £1,680.
"After 20 years you would have £4,680, and after 30 years you'd have £10,060."
