Uncensored Money Season Eight: If I Was in My 20s Again, Here’s What I’d Do Differently (Money Edition) 

Melissa Browne: Ex-Accountant, Ex-Financial Advisor, Ex-Working Till I Drop, Now Serial Entrepreneur & Author, Financial Wellness Advocate, Living a Life by Design | 12/02/2026

Show Notes

If you could rewind to your 20s… would you actually change anything?

In this episode, we’re not doing regret, we’re doing perspective.

Because your 20s aren’t about earning the most money. They’re about owning the most valuable asset you’ll ever have: time. And whether you’re currently 25, 45 or 55, understanding what a “time millionaire” is might completely change how you think about your finances today.

Mel and Lawsie unpack the money moves that matter early (and the ones that quietly derail women for decades):
– why bad debt steals your future without you noticing
– how a few inconvenient years can transform your entire financial trajectory
– the shocking long-term power of tiny, consistent investing
– the financial truth behind relationships and wealth
– and why confidence, not perfection, is the real goal of your 20s

This episode isn’t really about your 20s.
It’s about realising you’re not as behind as you think and what to do next, no matter your age.

You’re richer than you think

For more tips and resources, visit us at melissabrowne.com.au, on Facebook, Instagram or TikTok @MelBrowne.Money or send us an email at hello@melissabrowne.com.au.

Links mentioned in the episode are below

My Financial Adulting Plan can be found at melissabrowne.com.au/financialadulting

Find $10K in 12 Months Freebie can be found at melissabrowne.com.au/find$10kin12months

Share Investing Masterclass can be found at melissabrowne.com.au/shares

Dare to be Wealthy can be found at melissabrowne.com.au/books

Finally, if you love this episode please make sure you subscribe, share it with a friend and leave us a review.

Transcription

Mel: All right, we are back after a hiatus and I want to start with a confession because, Lawsie, I wouldn't ever want to be in my 20s again. But if I was, I wouldn't try to be good with money. I'd try to be smart earlier and I probably would just sit in front of a mirror and look at myself because, you know, I was super fit and had all that college.

Lawsie what about you? would you go back to your 20s and if you did what would you do? i've just horrified you i know

Lawsie: I just don't know really where to go with that. Just have visions of you sitting in on a chair in front of a mirror. But no, I wouldn't go back to my twenties. I'm not someone, know, a lot of people say, you know, wish I'd go back. Definitely not for me. think I was going to say mirror, but I'm definitely not mirroring your activity. But I, there's definitely things that I would change, but I think that's like all things that's hindsight. But yeah, if you are in your twenties, then good times ahead for you.

Mel: Yeah. Exactly.

Because as you said, like this isn't about regret. Like it's about perspective. And if you're listening thinking, well great, cause I'm not in my twenties, stay with us because chances are, you know who women who are that need to hear this, or it could still give you insight into things you could still be doing because no one here believes the myth that money habits are limited to certain ages. Instead, this is about recognizing what you might want to focus on during different seasons.

Lawsie: So today we're talking about money, but we're also talking about time and why time is the asset that no one explains properly.

Mel: Exactly. So if you're in your 20s, listen closely. And if you're not, listen closely anyway. But if you are in your 20s, you might not be a cash millionaire yet. But I want you to understand that you are a time millionaire. And during this exercise, we're going to talk about what that means. But before we get into it, it's important to remind you that the information provided in this podcast is of a general nature only and does not take into account your personal financial situation, objectives or needs, not intended to be financial advice. And before acting on any information, you should consider the appropriateness of the information provided and if necessary, obtain independent financial tax or legal advice and read the relevant product disclosure statement. and one more thing. We're recording on the launch day of my brand new book, Dare to be Wealthy. Yay!

Which asks the question what if the world of money was created by women and for women I am so freaking excited this for this book It's the one I've wanted to write for so long and it's finally out into the world. So, ⁓ Thank you. We'll again, Lawsie you and I are do a special episode soon But for now make sure you grab your copy wherever books are sold

Lawsie: Woo!

Mel: Let's get back into what we're here to talk about. as big a disclaimer, so not dare to be wealthy. If we're in our 20s again, here's what we would do. So there's four things that we have pulled out. There's more than these, but here's four big things that we think that you should concentrate on. So one, we would not touch bad debt. So if I could go back as someone in my 20s who played with store cards and credit cards,

 Lawsie:What's that?

 Mel: This would be my first non-negotiable. Do not freaking touch bad debt.

 Lawsie: And we're not talking any debt note that Mel said bad debt. So we're talking about the seek, the sneaky socially acceptable stuff.

 Mel: Yeah, and there's so much socially acceptable stuff now, so credit cards for lifestyle, buy now, pay later like Afterpay pay, store cards that promise no interest and deliver chaos. But bad debt doesn't feel dramatic in the moment. It feels convenient.

Lawsie: But it's actually the quiet thief.

 Mel: Yeah, it doesn't scream, it whispers. And here's the thing, if you learn to spend within your means early, you never have to unlearn bad habits later because unlearning is expensive, trust me. It's expensive emotionally and it's expensive financially. 

Lawsie: And this lands for both camps of women too, if you're in debt and those that are earning well as well, because just because you've got a high income doesn't protect you from bad debt. It just lets you carry bigger balances. And I think that's something to be really aware of.

Mel: Oh, that is super problematic. So, Lawsie let's talk about why this is for a sec because chances are there's someone listening going, yeah, well, I get credit card. I get that it could have an 18, 20, 25 % interest rate. But what if I've got Afterpay or zip and I have never paid a cent of penalties? Like really, what's the harm? And if you go to Afterpay zone website, don't trust us.

I go to Afterpay's own website, go to the business section. I I would trust it, but go see it in black and white. If you go to the business or retailer's section, Afterpay proudly declare that you are going to overspend by 54%. 54%. And the reason you're doing that is because of something called the Framing Effect, meaning I never meant to lift my spending from 100 to 154.

Lawsie: Gosh, I trust us.

Mel: But I have no problem lifting my repayment from $25 to $38.50. Like it's sneaky and we see it all the time, don't we, Law-dog?

Lawsie : Definitely. And people will say that this like, but it's it's budgeting or it's this or it just spreads things out, keeps money in my bank account longer. But the reality is for most people, you are going to be spending more totally unconsciously and because everyone else is doing it, you're just like, yeah, it's just it's a thing that we do now. Like it was laid by back in the day. Now it's this and then, you know, similar things for credit cards as well.

Mel: Yeah. I feel like women in their 20s are rejecting credit cards more because of that 20 % interest, but also because you may not realize it, but credit cards also cause you to overspend, but they've rejected credit cards and they have gone to after paying droves and zip pay because it's easier to get, because you don't get charged interest, not realizing that you have that overspend. So.

Our big takeaway that we want you to hear is that bad debt steals your future quietly. And the earlier you opt out, the richer your later life becomes, the more choice that you have to put your money towards things that you actually want to spend it on. The second thing that we want to talk about ⁓ when it comes to what we would do differently if we were in our 20s again, is not to believe the 16 years for a deposit myth. Now, that's probably one of the biggest myths that I see around at the moment, Lawsie, that you'll never buy a home unless you save forever.

Lawsie : Yeah, which is crazy. Or that you'd have to, you know, to be able to buy a home or whatever, you're to have to move in back in with your parents. thanks.

Mel: Yeah, no thank you. I think, and it's interesting, like that is, that would not be an option for either of us. And I think that's what I wish that I understood earlier is that you don't need a perfect traditional path, you need a creative one.

Lawsie : Definitely. I think, I mean, in terms of creating, it's just thinking differently about how you can approach saving for a deposit. Cause if you are wanting to buy a house or you are wanting to buy a property, it's, there is no one way. Like it's not that you just have to scroll away and, no, I'm going to take 16 years to get there or whatever. It's thinking about what you're prepared to suffer for in some instances. And I know that's harsh to say for people, cause everyone wants everything now. But the reality is,

Mel: Mmm. Yeah.

Lawsie : If buying a home or buying a property is something that's really important to you then it is looking at different ways that you can do that. you might decide to...you know, rent with friends for longer than you might have otherwise planned, even though you'd love to have a place on your own. Or you might look at things like house sitting where you remove totally that cost of ⁓ rent. the flip side of that is that you're going to be moving around from place to place and being quite nomadic. And that can be quite stressful for some. it's are you willing to suffer that to have no cost of housing so you can save for a deposit ⁓ or doing that, ⁓ you know, just really stripping back all your expenses, which that's how I did it. And I am very disciplined. I know that a lot of people are like, my God, I can't believe that you did that. But that is just the way that works for me that I'm like, if I really want it, I just don't spend anywhere else. And over and obviously an extended period of time. ⁓ And then you get it that way. So there's so many different ways to do it. And it's kind of picking and choosing from all of the ways what's going to work for you. what

Mel: You. Yeah.

Lawsie : For me is going to be different to you is going to be different to the next person. But if you like this thing, if you really want it, you'll make it happen. But it's just being prepared that there's going to have to be sacrifices along the way.

 Mel: And I saw, I just can't agree more. And it is being creative around it. It's not believing the news headlines or the research, but going, actually, what do I want? And we've seen people in our community do that. We've seen women who have suddenly had marriages break down and they've gone, wow, I need to create choice. I'm going to house it for two years. I'm thinking of one particularly Jen where she...really wasn't keen on that. She was like, I'll do it for 12 months. I think she did it for almost two years in the end because it made such a massive difference. But we've also got people that are finding more cash. know, Jodi, who is in our community, this was something she grabbed with both hands. She ⁓ has done all sorts of things to get there. But if you can figure out how to find more cash, she's done $11,500. Pre-use in a row, like not just a one-off. You know, that's a big chunk towards a house deposit, as well as the normal spending, as well as stripping out spending, as well as getting rid of your housing. You can get there faster. It's just asking the question, how can I be more creative? And what am I exactly as you said, it's that unsexy question, what am I prepared to suffer for? And I guess the big one is that the deposit doesn't have to be for your dream home or even a home at all. You you can buy an investment property. You can rent this, which is what we're seeing more and more people doing, where you rent your home, but you buy an investment property instead and you use our current Australian capital gains tool, sorry, negative gearing laws to your advantage. So yes, there's temporary discomfort, but...The trade off is permanent leakage or waiting and that's a trade off I would make every single time.

The third one of four of things that we would do again if we were in our 20s, other than sitting in front of a mirror and just touching all the collagen in my face, to start, Lawsie's horrified at that, is to start investing now even tiny amounts. And this one still makes me mad because just like the collagen is wasted on 20 year olds, so is time. And yes, I get that. Investing small amounts for a long period of time is boring, but it's also life-changing.

Lawsie : Our favorite combo collagen for you isn't it and life-changing

Mel: I know boring, collagen and life changing. So let's math together because Law-dog who doesn't like to do maths. $250 a month into one simple broad based ETF for exchange traded fund. And there are lots you could choose from depending on your risk profile. 50 years because in your 20s you've got time. And we're not talking about working for the next 50 years. We're talking about being able to find $250 a month for the next 50 years, which might be hard in your 20s, but it's going to be nothing in your 60s based on Vanguard's 30 year long-term index returns up to 2025. Your result, drum roll plays Law dog I love that you can do that. Is around 3.5.

Lawsie: HRRRR

Mel: Million freaking dollars, I feel like I should be stroking a white cat. Or if you think, ⁓ I don't want to do that for 50, for 40 years, it's 1.3 million. And I want you to see the big difference in those 10 years, because that's the power of compound interest. Your money is like a snowball going down a hill, picking up speed the longer is invested. So I want you just to pause and let that land because that is massive if you're in your 20s. That's life changing.

Lawsie: Yeah, that's and that's where when people's you know, were saying before that you're a time millionaire, that is the secret sauce really, because if you're starting in your 20s, yes, it might seem like it's a large amount at this point, but it is so much easier to be putting that away a relatively small amount in the grand scheme of things over that long period of time and then to walk away and go, oh, I have 3.5 million dollars. Happy days. Thank you.

Mel: Yeah. Yeah, exactly. So Law-dog briefly broad based ETF if someone's listening going, huh? Like I thought share investing was complicated and complex. ⁓ Like, can you really just invest in one ETF?

Lawsie: You can say there is ETFs that exist that invest in a number of ETF or exchange traded funds for you. So the beauty of that is you just have to choose one. So an example that some people might use would be VDHD. So that's a Vanguard ETF and that VDHD ETF invests in a number of ETFs giving you exposure to Aussie shares, international cash bonds, all the things. So really giving you that diversified portfolio. So if you're someone that's just like, don't know, I just want to do something that could be something that you would look at. Another way that people would do it is they might invest in a number of ETFs. So instead of choosing one ETF that does the investing in a number of ETFs, they are choosing that themselves. And again, just giving themselves exposure to a broad range of countries and sectors and all the things rather than just going, going to invest in one particular share. That would be risky. I will talk, you know, we've spoken about in other, ⁓ you know, investing previous podcast episodes and things, and no doubt we'll continue to do that. ⁓ but just being aware that as part of this, you're in your 20s and you're going, I don't really know where to start and I'd rather be going out and having fun, traveling, doing all the things, ⁓ knowing that you can just start investing really easily and really simply. There's definitely options out there that you can do that.

Mel: Yeah, one platform, one investment, it can be that simple. And Vanguard is kind of like a car manufacturer, if you like. So if you were like, I love that idea of that hatch, hatchback, but who else sells hatchbacks? Like better shares do a version as well, which is another popular one, which their car is DHHF. If you were like, ⁓ I don't even want global exposure because I'm scared of the uncertainty in the world. You can just bring it back.

Lawsie : Mm.

Mel: And you can just invest in the top 300 shares in the ASX and all the big players do a version of an ASX 300. Better shares do one. GlobalX does one. Vanguard does one. So it's just about comparing, ⁓ comparing fact sheets, figuring out what's right for you, comparing fees, and then just starting. Because you can pause and overthink it.

Or you could choose to invest in one thing over the long term. And as we said, that's life changing money. And Lawsie, know people argue with this, right? With this.

Lawsie: Yeah, they'll look at it and just go, oh, they'll talk about inflation or they'll say life's expensive or that they want the money now. And I get it, hundred four dollars a month is, you know, you're to be able to get a few drinks at the pub for that. I'll be putting that towards a trip, but the...

Mel: Mm.

Lawsie: The with that or the downside of that is if you believe all of those things that you're hearing about inflation and life being expensive and you know genuinely wanting just to go and spend that money now is you won't do anything and as a result you'll have nothing. I guess that take away yes we are talking about $250 a month and wanting you to have $3.5 million but if that's not possible $250 a month like you can still be doing things and then increase the amount we've just been using this as an example

Mel: Yeah.

Lawsie : If you don't do anything and if you believe all of the negative news and the, you know, all of the hype and things around that, well, in 50 years, you won't have anything. Yes, you might have your super, but you're not going to have that extra money that's been working away in the background for you if you don't start now.

Mel: And I've seen all those comments. did a podcast with Seven News in 2025. They put a reel of it with exactly this scenario and it's had over a million views. so what really saddened me is the number of comments of people saying, well, who cares? I want that money now. Or who's got $250 a month to invest and or inflation will eat that up. Like I just saw hundreds and hundreds of people saying that, but it's

You can believe that or you can go, you know what? This is not the only thing I'm going to do. Like Lawsie and I are not saying if we are in our 20s again, this is the only thing we're going to do. But this could be one of the things that we do. And we've got a free resource, 20 plus ways to find 10K in 12 months. This can be from money that you've earned outside of investing. know, 10K in 12 months is $8.33 a month. We're talking $2.50 a month.

So some of it's towards this, some of it's towards something else. And we'll link that into the show notes. And if you're just overwhelmed from investing, again, we've got a shares masterclass and we'll link that in the show notes again. 90 minutes in less than the time it takes to watch a romcom, you can figure out how to invest in shares. So we have these resources, you can do it. It's just choosing whether it's right for you and possible. And trust me when I say that boomers would hand back property portfolios, for that kind of time horizon, because that's what being a time millionaire means. You may not feel rich, but you have the one thing money can't buy, time to compound, time to recover, time to let boring money do extraordinary things. Now, our fourth and final one, Law Dogg, it might be a little bit controversial, but this is certainly one that I feel deeply in my bones, and that is skip the first bad marriage. You know, I had a starter husband. ⁓ I'm just going to say it. Skip that first bad marriage. I said what I said.

Lawsie : You and I mean, as blunt as it is, but also the data backs you up with that.

Mel: Yeah, because divorce is one of the biggest destroyers of women's wealth. I mean, I would know. And for me, divorce didn't destroy my wealth, but my emotional gut reaction to that divorce where I gave my entire money to charity destroyed my wealth in that I had to go, went into five figures of debt and had to rebuild versus being able to use that pot of money to invest and do something. And so many women, the research shows this will either make those same emotional decisions or not understand the consequence of the decisions they're making or will earn less, et cetera, from that divorce. So if you can skip that starter husband, that first bad marriage, I mean, rushing into the wrong relationship just makes it worse. So don't marry the first person who shows interest. Do therapy. I wished I had. Build yourself, chew slowly. As I said, I deeply wish I took this advice myself, but your finance will thank you and so will your nervous system. So it's understanding you have options. And if you choose to get married early and you have assets or investments, we're gonna talk about this when we get to 30s and 40s, maybe even speaking to a family lawyer before you do so that you can protect them. ⁓

But ultimately, I guess the thing that we really want people to hear as a result of this conversation, Law-dog is to back yourself. Because if you are in your 20s, you have time. And this is the one that I really want to land for anyone listening. Start the business, change careers, make mistakes. mean, Law-dog what sort of mistakes would you have made? I mean, you're far more disciplined. There may be other mistakes in your 20s you've made that you could have recovered from.

Lawsie : Think it's still like, did I love doing accounting? You know, loved working for you boss, of course. ⁓ But I think there is, there is something in that about starting and trialing things just because you get a cadet program and you've got someone else paying for your degree and all the things if it's not the right fit.

Mel: Yes. ⁓Yeah.

Lawsie : It might, you know, it is about being brave. It is about making decisions that might people, your parents, those around you might go, what on are you doing? Like you're getting this free degree, but if it's not the thing that you want to do, change it. I'm, I kind of look at everything and go, it is what it is and you've done what you've done. And that's led on to so many things. Like, obviously if I did change degrees, I wouldn't have gone down this path and worked with you for so many years and all the things, but I think there is merit in, you know, like I see people now going. That degree wasn't for me. And so I changed or I left uni and I'm like, good for you. Like I actually, they used to, certainly when I went to uni, was like, no, like you stick to it. You do that. And I, so I do think that there is, you know, if you, again, hindsight, like we said at the start, sure. I'd probably go back and change things. would start.

Mel: Yeah. You gotta stick to it.

Lawsie : Investing back then, you know, doing that 250 a month. Yes, there's other things that I was doing, you know, throughout my twenties and things, but of course I'm like, be great. And I also look at it and go, if you choose an ETF and you go, oh gosh, five years down the track, you don't like it, we'll sell it, do something else with that, like keep that money invested. But it's just knowing that because you do have time, you can change and you can experiment with things. And it's a perfect time to move into.

Mel: Yeah.

Lawsie: To a frat house. Go and have those experiences, go and travel, but just make sure you're doing it within your means and that it is in alignment with ultimately what you're thinking you're wanting at that point in time and not just necessarily spending every spare dollar that there is still that bit that's working away, doing some investing, doing those things in the background, just so you've got more choice later on.

Mel: Hahahahah

But it's so interesting you say that because I studied law straight off uni and during it three years in realized, God, this is not for me, but I don't know how to back out because I know I'm going to be an eldest child from that really strict household. And I knew that they would that disappointment that my father particularly would have kept me there longer than it should have. And then I was so lost when I chose to come out and I was so worried about what they would think. That I did accounting because he said, ⁓ kid, you know, I'm an accountant and there's law in accounting. So just do that. I'm like, ⁓ okay. Like it's, it's so wild thinking back now as the woman that I am today that I just did that. Like it was just like, no, I don't want to rock the boat. I don't, just want to keep people happy. So it's interesting to hear you say that because that's not something that I had considered as something I needed to financially recover from. But yeah, it's, I didn't take that risk and I wonder what it would have looked like if I had done something I wanted to do. also, it was a time where you didn't see a lot of different things, not like it is now. So I didn't really understand the different choices that I had. ⁓ Yeah, so curious. But I, for me, I think investing too, there was an ETFs in my 20s there or they were just starting. There wasn't podcasts talking about investing. There wasn't all the apps that made it so easy. So if I could go back to my 20s in our time today, ⁓ my gosh, it would be so different. Because even if your earning capacity wasn't there, if I could house it and invest, which is kind of the fire movement, right? The trajectory would be so different. Like I was a multimillionaire by my late 40s. That would be.

Lawsie : Be very different.

Mel: A lot easier. know that, I know that, I know that. But for me as well, ⁓ store cards, like I got sucked in by that, by them. And I think I was a really, really low income earner. I was smart in that I bought a house and land package half an hour away from where I could wanted to live because that's all I could afford. So least I had a foot in the property market. ⁓ But I got sucked into store cards and credit and I wished I'd learned earlier that those things that I'm just not good with them. ⁓ Sunday trading had just started in my 20s. my God, how old am I? So and I'm grateful for that because I think if I had access to Afterpay and 24 spending in my 20s at a time where I was so confused and so depressed and so lost, I think I would have got myself into a lot of trouble. So.

There's part of me that's grateful that those things weren't available. But if I could go back with my knowledge today, I would just smack all that out of my hand and go, no, they are not for you. But I wished everything that I'm talking, that we've talked about today, that we'd invested more, that we'd taken risks, that we'd experimented.

 And I really hope that you were hearing that if you're listening, because your 20s aren't about being perfect. They're about building confidence, skills and momentum, because you have time to recover. You've got time to compound. You've got time to get it right.

Lawsie: And if you're listening and you're 38 or 47 or 53 or anything in between below or above, you still have more time than you think, which is what we're going to talk about for each generation as we work throughout this series.

Mel: Haha. Yeah, we are gonna look at different strategies, but ultimately it's the same principles because wealth isn't about doing any everything early. If you're sitting here listening to this guy, my gosh, I've missed out. No, it's about doing the next right thing with intention. So whether you're in debt and rebuilding or earning well and ready to grow, I want you to hear today that you're not behind or broken and you are definitely not out of time.

Lawsie: Just early in your next chapter.

Mel: That's beautiful, Law-dog. I want that on a t-shirt instead of the one I'm wearing today that says angry women will change the world. Maybe that can be on the back. It's a different vibe. And that, my friend, as you said, is a very wealthy place to be. So if you take nothing away from today, I want you to hear this one thing. You, my friend, are a time millionaire. As long as you don't squander that.

Lawsie: Different vibes.

 

 

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