Tagged …and a Profile Picture :)

For those of you who read my blog via reader, I’ve recently made a small change to blog, including tweaking the background image and added (gasp!) a profile animated image of me (via Yahoo!).   I was really exciting, and have my animated image in various outfits (of course).  I’d love it if you headed on over and checked it out! 🙂

I’ve been tagged by Cassie over at Digging Out and Up.  Since she posted this up over a week ago, I obviously suck at tag!  I hope that late is better than never! 🙂

1) When you started paying off your debt, did you do it by balance or interest rate?

Luckily, I only had about $9,000 of student debt when I graduated, since I only used  my credit card as a debit card.  So, I paid off the balance in full within 6 months.

2) What was your first job, and how much did you make doing it?

My first paid position was pulling out white hair for my aunts and uncles.  We’d get $0.10 – 0.25 per hair 🙂

My first job was a “pantry staff” at a summer camp.  Basically, I prepared the dining area, cleaned  the dining area, washed dishes, before and after every meal.  It really sucked.  I quit after 2 weeks because we had to work 6 days a week and I had to save up several days of vacation before I could leave since it was a 4-hour drive out to the middle of nowhere.  I got a check for $294 in the mail.

3) Have you ever stalled on an investing opportunity and regretted it?

Not really.  I invest mostly in index funds, so sure, I’d see a stock and think, I should have bought it as $ XX, but it’s based on guessing stock tips, as opposed to thoroughly researching it.

4) What was the blog that first got you interested in blogging?

Back when I was in second year university.  I had a long distance relationship with my ex and a really crappy internship = blog material! 🙂  I have gone through several blogs since then, ranging from a non-anonymous personal blog, anonymous personal blog, fashion blog, minimalistic blog… and now, a personal finance blog.

However, the first blog that really got me interested in writing about personal finance was Fabulously Broke in the City.  I started reading her blog back in the day of her first closet clean out, and have been hooked ever since!

5) If you had to trim your budget to the bare bones, what is the last thing you’d cut?

Toiletries and grooming. I know it seems like such an extravagance, but a good haircut will last a long time.  And helps me look more put together and feel more confident.  My skin is also really sensitive and acne prone, so I like to use good moisturizers and proper exfoiliants.  This is probably ~$500/year.

6) What was the worst piece of financial advice you’ve ever received from a well intentioned person?

Buy a house as soon as you can and stop wasting money on rent.

I understand they want me to build up my equity and increase my networth, but as long I am increasing my networth through other means of assets, then I am going to wait until I am ready for a house before buying one.

Besides, have you seen the housing prices in Toronto, lately.  They are outrageous.

7) What do you wear to work?

My work is pretty casual, so you will find me in jeans and a blazer/cardigan, on most days.

8) How much money would it take to make you feel “set”?

I wrote about a post of how I’d spend $1M if I won $1M, and that exercise made me realize that if I had $1M, I still wouldn’t be completely “set”, if I wanted to buy property and take care of my parents. Even with $1M, I’d still need to still make investments and make that $1M work for me.

So, for me to have no worries at all about money, I’d say $2-3M will do it.

9) If you were to start over, which money mistakes would you make again because they contained valuable lessons?

I’d start investing when I was 18 or 19 and take advantage of the magic of compounding! 🙂

10) Are you following in your parent’s financial patterns? Why or why not?

Yes and no.

I am trying to be frugal like them, but I do take on more risks with my investments.   I also don’t want to sink everything into a house, which was one of their financial priorities.

11) When you’re short on cash, what are your go to cheap meals?

• Ramen noodles with an egg
• Soaked dried beans and soy sauce with rice
• Soy sauce and rice
• Canned sardines with soy sauce with rice

As you can see, soy sauce fixes everything 🙂
Thanks for tagging me, Cassie.   They were great questions.

I think that most people I follow have been tagged, and I am too lazy to find out who hasn’t been tagged.  But I’d love to hear your answers to the above questions in the comments (if you haven’t already written about it), so tag yourself!

Cheers,