Sam Drummond, a lawyer and disability advocate, shares his financial journey in his memoir "Broke." Despite his childhood experiences of financial hardship, he now enjoys a comfortable financial situation. He and his partner prioritize experiences over material possessions and focus on aligning their spending with their values. They are committed to reducing their mortgage and have implemented strategies to maximize their savings.
Drummond's upbringing shaped his financial mindset. His mother's sacrifices and his father's emphasis on ethical financial practices instilled in him the importance of responsible spending and giving back to the community. His first paycheck went towards rent, highlighting the financial struggles he faced as a student.
Currently, Drummond allocates a significant portion of his income towards his mortgage, aiming to reduce it as much as possible. He has experienced a financial setback due to a change in Woolworths' online grocery policy, resulting in accumulated store credits.
Despite his conservative spending habits, Drummond acknowledges his desire for a more expensive sourdough bread. He organizes his finances through two bank accounts, utilizing credit cards to earn rewards while ensuring timely payments from his offset account.
Drummond challenges the common belief that he cannot afford certain things. He believes that financial constraints can be overcome through determination and a sense of responsibility towards others. He highlights the challenges faced by disabled individuals in the job market and the importance of setting financial goals that may initially seem unattainable.