Browsing Category: Interviews

Wealth Lion – King of the Money Jungle

wealth lion interview

wealth lion interviewOne of my goals for My Financial Reviews is to highlight personal finance blogs and sites that I think can help you with your finances. This week FMF from  Wealth Lion shared his thoughts on becoming king (or queen) of your financial castle.  Before creating Wealth Lion this year, FMF was running Free Money finance, one of the most read personal finance blogs. I’ve been a FMF reader for years, so when I saw that he was branching out with Wealth Lion, I added the new sites as one of my must reads. 

I’m so grateful he is a part of  the money blogger seriesPlease catch him on Twitter!

When and why did you start Wealth Lion?

Wealth Lion officially started on May 1, 2013 with a question I thought everyone would have: Why Another Financial Website?

There are a lot of reasons I started it, but the main reasons are that I wanted a site that was a bit different than Free Money Finance. One that included more of what I was doing, more in-depth articles, and which was targeted at a more serious money manager and investor audience.

You also run one of the biggest blogs in personal finance, Free Money Finance. How do you determine with your post is more suited for FMF or Wealth Lion? How do you balance running both blogs?

I have the content sort of split (what one gets versus what the other gets) as detailed in the link above. FMF will be shorter, focus on reader profiles (a reader favorite) and answering questions, and be for a newbie/mid-level audience. Wealth Lion will be more detailed, contain more insight into what I’m specifically doing, and be for a more advanced audience.

They both post three times a week, so I only need six posts a week total. If you know anything about my FMF posting history, that’s pretty light. That said, I may increase or decrease the number of posts as needed.

How do you handle your own finances? What system do you employ with: budgets, investing, and career?

My biggest financial tool is quicken. I have over 15 years of data in my current file. I use it to review costs, monitor my net worth, evaluate asset allocation, plan for future costs (I have debt accounts set for college for each kid), and so forth. I’d be lost without it.

What’s the biggest financial mistake you’ve ever made? What did you learn from it?

I put all my savings into a bank with no FDIC insurance. Then it failed. I wrote about it here. It was only a few thousand dollars, but at the time (I was in college) it was a fortune to me. Luckily I eventually got most of it back. What did I learn? Not to put money in a bank without FDIC insurance. 🙂

As for sins of omission, probably my biggest mistake was not saving more than I did when I was younger. I have a good net worth now, but it could be much, much better if I had saved earlier. But I didn’t know any better then.

What are your goals this year and beyond with Wealth Lion?

For the first year, I will focus on producing great content (or the best I can come up with – however you look at it) with little expectation of what could or should happen. After that, I’ll evaluate where I am and whether or not I make a go of it in the long run. I’d like it to be my blog for the next 20 years or so, but we’ll see if that’s meant to be.

Thanks again to FMF for taking time out of his busy schedule to do this interview! 

Bargaineering to a Richer Life

jim bargaineering interview

One of my goals for My Financial Reviews is to highlight personal finance blogs and sites that I think can help you with your finances. This week Jim from Bargaineering shared his tips on having a richer life. Meeting Jim in person, I can tell you is absolutely a gentlemen and he loves to help others. I was so happy that he wanted to join the blogger series

When and why did you start Bargineering?jim bargaineering interview

I started Bargaineering in the beginning of 2005 because I had just started working and really becoming more serious about managing my finances properly. I also had a lot of free time because my future wife, then girlfriend, had moved to New Jersey and I didn’t have much to do at night so I thought I’d start a blog. 🙂

It’s been a fun journey, I’ve met a lot of people over the years and I’d like to think my finances are better for it.

Over the years, Bargineering has cover so many topics on finances. Have you noticed a change in how personal finances is being presented now versus years ago?

I think it’s been presented pretty much the same way over the years, the only difference is that there is a lot more of it. The beauty of personal finance blogging, as opposed to what you read in newspapers or magazines, is the breadth of experiences.

When I started, I was writing as a young professional who just started working. Five Cent Nickel had a family with four kids. Now that I have a family, I’ve started to write more of what I saw on Five Cent Nickel years ago. With so many voices, there are so many perspectives that you can find anything.

Do you think financial companies like banks, brokerages, and insurance companies are getting better with their products and services?

I think companies are always improving, the apps today are great. You can do all sorts of banking online now, you have Credit Karma giving you free Transunion scores, and all the Mints and data aggregators really help people manage their money better.

How do you handle your own finances? What system do you employ with: budgets, investing, and career?

I just track my net worth on a monthly basis, I don’t budget, and I actually have started working with a financial adviser to help with some of the bigger picture items, like term life insurance, estate planning, and the like.

What’s the biggest financial mistake you’ve ever made? What did you learn from it?

It wasn’t that big of a mistake but when I purchased our first house, I let the process drive me rather than the other way around. I used whatever title company the lender recommended, I used their inspectors, I didn’t ask for things because I thought the seller would back out of the deal, and I basically was too passive. I learned that it’s my money and I should control the process of spending it.

What are your goals this year and beyond with Bargaineering?

I’d like to do what I’ve always done with it, grow it, have fun, and meet new people in the process. 🙂

Thanks again to Jim for taking time  for this interview! Check him out on Bargaineering and please read these great posts:

If you want to chat with Jim he’s also on Twitter.

 

How to Get Rich: Wealth Building for the Financially Illiterate

personal finance barbra friedberg

One of my goals for My Financial Reviews is to highlight personal finance blogs and sites that I think can help you with your finances. This week Barbara Friedberg took some time out of her busy schedule to discuss her personal finance site and her new book, How to Get Rich: Wealth Building for the Financially Illiterate.

When and why did you start your blog? Why did you decide to name your site after yourself? personal finance barbra friedberg

started my blog officially in 2010. It was after the mortgage meltdown and recession. I was committed to sharing my finance expertise with others. During 2009, I shopped a book proposal to various publishing houses and was met with the same response, where is your audience? That was my initial impetus to start a blog.  I had so much finance background and expertise and I wanted to help others with their financial stressors. In 2012, I got one book contract to edit an Encyclopedia of Personal Money Management, and in 2013 I finally got How to Get Rich: Wealth Building Guide for the Financially Illiterate published.

I was clueless when naming my site. I knew nothing about search or website development. I came up with the name, as I was convinced that my methods of money management will be helpful for others, asked my husband whether I should use my own name or not, and he said yes.

How do you handle your own finances? What system do you employ with: budgets, investing, and career?

I’ve used Quicken for decades for budgeting and financial tracking. I also use Quicken to track my investments. Additionally, I created my own spreadsheet to monitor my asset allocation a couple of times per year.

I was a career counselor at San Diego State University in an earlier life. There I learned the best tool for career advancement and management: networking and informational interviewing.

Meet with individuals who have careers that interest you and spend 15 to 20 minutes asking them about what they do, their jobs, and how they got where they are. Ask for advice, not a job and use that information to drive your career decisions. Build your LinkedIn network, I use mine constantly for contacts and information.

What’s the biggest financial mistake you’ve ever made? What did you learn from it?

Wow, as an investor of many decades, I’ve made my share of poor stock picks (all investors do). But the one financial mistake I made that stands out is the $300 money making course I bought. What a rip off. (And with inflation, that same purchase would probably cost close to $1,000 today).

There are so many people out trying to take your money, make sure to think before you shell out hundreds (or thousands) of dollars for information you can get in a book for much less.

Please tell me about your Book: How to Get Rich. Why did you write?

How to Get Rich: Wealth Building for the Financially Illiterate is a step by step plan to lifelong wealth. How to Get Rich provides solutions to debt, saving, investing, housing, insurance, and investing. The final chapter unveils the secrets of the rich. Getting rich is not difficult, if you take it step by step.

I want to help others get on the wealth building path so they can live a life with choices and free from financial stress. The book is a fun and quick read with quotes, humor, anecdotes, and worksheets based on wealth building research.

What are your goals this year and beyond with your book and your site?

I have several other wealth building titles in the works and am launching a publishing company called Wealth Media, LLC. The blog will continue to offer strategies to build wealth and I look forward to growing the site in order to assist more folks with smart money strategies. Additionally, I will continue collaborating with other bloggers to help with their initiatives.

Barbara is offering a special deal ->From May 1-May 5 you can get a free Kindle download of How to Get Rich: Wealth Building Guide for the Financially Illiterate.

 Thanks goes out to Barbara for not only sharing her financial thoughts, but for also sharing her book!

How to Succeed as The Family’s CEO

One of my goals for My Financial Reviews is to highlight personal finance blogs and sites that I think can help you with your finances. This week Julie from The Family CEO

When and why did you start The Family CEO?family ceo blog interview

I started The Family CEO in 2006 when I was a stay-at-home mom looking for a way to contribute to our family’s finance. It occurred to me that if I hired myself to improve our family finances, through finding savings and focusing on debt reduction, the result could be the equivalent of taking a part-time job. The Family CEO was started to document my efforts.

You cover a lot of different topics on your site like house & home, found money, and simplifying. Which topic is your favorite? Which topic do you feel like you could work on a bit more?

I love decorating and homemaking and feel that those topics add a little personality to the blog, but I consider the  Found Money concept to be the core of what The Family CEO is about. Found Money has served us so well in first paying down debt, and now building savings.

I feel like the blog has a pretty good balance, so I wouldn’t say that there’s anything I want to work on more.

How do you handle your own finances? What system do you employ with: budgets, investing, and career?

I love to make budgets (I’m a big numbers nerd) but I hate following them, which is why I use things like Found Money as an alternative to budgeting. I track all of our income and expenses in Quicken, so I can keep an eye on where we are putting our money and make adjustments when necessary to make sure that our spending matches our priorities.

Our investing is done mainly through dollar cost averaging into no load/low fee mutual funds. Although I did buy five dividend stocks last year and am enjoying tracking them. I blogged about that experience and update it periodically.

What’s the biggest financial mistake you’ve ever made? What did you learn from it?

family CEO julie

Our biggest mistake, without doubt, was not being debt adverse enough. We were never in trouble with debt – we made all our payments on time and had excellent credit scores – but the amount of debt we allowed ourselves to have really limited our options.

Now we’ve turned that situation around we’re making up for lost time. The lesson is that it’s much more fun to use your income to build wealth instead of qualify for payments.

What are your goals this year and beyond with The Family CEO?

My main goal is always to continue to grow The Family CEO’s readership. I also have several ideas for ebooks and I’d like to complete my first one this year.

Thanks again to Julie for taking time  for this interview! Check her out on The Family CEO and also on Twitter.