IT’S a question most people have asked themselves several times over – ‘what would I do if I was a millionaire?’

Well, for one woman that dream has become a fully fledged reality when she struck gold with  a finance podcast and became a millionaire at 25.

Simran Kaur, a young finance guru who is on Instagram @girlsthatinvest, launched a podcast alongside her best friend called Girls That Invest in March 2020. 

Since it’s gone from strength to strength and, after also deciding to invest in shares, the New Zealander has gone on to branch out into many different projects and create a brand empire. 

Not only has she released a book and built an impressive Instagram following of nearly 200k, but she’s also been handpicked to deliver a Ted Talk in America, and continues to teach women masterclasses about finance and investments. 

However, the honest business woman – who also invested in property and took on side hustles to help grow her wealth – recently admitted that it hasn’t all been smooth sailing, as she opened up on the mistakes she’d made on her journey. 

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Simran, who has grown her net worth from $8k to $1 million in just two years, told Femail: “Often we hear about the financial success that the everyday person achieves, or more notably what the rich and wealthy did to get rich and wealthy. 

“But I think it's equally as important to share some of the money mistakes that have been made on the way.”

Simran said there were some decisions she’d come to regret, as she told others it’s easy to make money by simply making wise financial choices.

Highlighting one of her early errors, Simran said she wished she’d used cash back reward schemes a lot sooner. 

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As she explained she’d “missed out on thousands of dollars worth of points”, Simran continued: “I used to think credit cards were for people who didn’t have money – such a silly mistake.”

Simran also reflected on splashing out on extravagant, unnecessary meals when she first found herself with disposable money – something she said others should avoid.

She admitted: “I always look back and cringe at how much money I spent on the few times I went out to very fancy restaurants and yet never left them feeling very full.”

She added: “They are just not worth it.”

Now I know better, but it goes to show we all start somewhere

Simran, who also owns a car, boat and caravan, also opened up on the error of her ways when it came to investment. 

As well as investing in too many ETFs (exchange-traded funds), she went on to say that she’d also acted rashly when it came to the financial market. 

She said: “It’s comical now because every time you buy and sell shares you’d have to pay a hefty brokerage fee back then, so I probably lost even more money.

“Now I know better, but it goes to show we all start somewhere.”

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She also said she wished she could go back in time to talk to her younger self and tell her to start investing sooner.

The social media influencer explained: “I thought investing was something you did once you were wealthy.

“It didn’t occur to me for a long time that investing is what you do to help you get wealthy.”

Speaking about her road to success and financial freedom, Simran said she was proud of how far she’d come – especially her decision to make cash from one of her hobbies. 

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She explained: “I realised I was great at social media so I thought ‘if I spend so much time on Instagram and TikTok for free, why not be paid to do it. 

“All the money I earned I either invested into my shares or my business.”

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