This weeks interview is with Your Finances Simplified, who is currently going incognito online and hasn’t released his name yet. Personally I like a bit of mystery, but YFS does give away a few more details in his about page, so make sure you head over for a visit. This is actually the first interview to come with a language warning, it isn’t prolific, but you will find an F-bomb in here. Although my NY accent is terrible I think it is for a good cause, but I’ll let you be the judge of that.
Why do you blog and how long have you been doing it?
I’ve been blogging since 10/3/2011. I started my blog because I love personal finance, teaching others and I wanted to extend my reach beyond the Maryland, DC, and Virginia area.
Do you believe in budgets?
No I do not believe in budgets. When I hear the word budget I instantly associate it with a negative word. Budget = no fun, restraint, boring, broke. I believe in spending plans. Yes, it is technically the same thing as a budget but, a spending plan makes me think positive rather than negative.
Who is your hero?
My hero is my mother. She taught me how to work hard, be successful, how to fail and recover from failure. As a child I didn’t realize how much she sacrificed and struggled so I wouldn’t be a product of my environment. I grew up in the hood. If you have seen the HBO series the Wire, that’s the environment I grew up in. My mother worked her behind off without any assistance from my absentee father or the government to show me a different way. Even thinking about how much my mother did for me brings tear to my eye.
What are some of your favorite wealth resources?
Currently, my wealth resources come from the bloggers within the Yakezie network and the Wisebread top personal finance blogs. Aside from those two resources, I would say Elizabeth Warren’s book “The Two Income Trap”. I read this book right before I got married and it changed my life. This book is the reason why I live off 1 income now.
What is the worst financial mistake you have ever made?
There was a 3 year stint in which I would buy a car, pay it off ,sell it, then get a new car. We all know a car loses a huge amount of value within the first two years. Also, that the dealer never quite gives you the full value of your car. I lost tons of money by playing the “I want a new car” game.
What is the best lifestyle decision you have ever made?
The best lifestyle decision that I made was getting married and then living off one income. When I got married my household income doubled! Life is easy when your wife makes a ton of money and you’re disciplined! Since we were used to living well below our means, living off one income and using the other to invest in things that make us money was easy.
What is the best piece of advice ever given to you?
The best advice I ever received was to live off 50% of your net income and invest the rest. Focus on building generational wealth for your future family and if you want to be wealthy, think and most importantly act wealthy!
Something that people that currently read your blog may not know about you?
Hmm.. I’m sure I can say a lot of things since I’ve only been around since 10/3/2011. But, many don’t know is that I’ve played various sports and ran track in particular since I was 6 years old. I even won the 400m, 800m, 4×400 and 4x800m Track and Field events at the Junior Olympics several times.
An article written by someone else that you think everyone should read?
Evan from My Journey to Millions wrote an article in which I believe everyone should read and forward to their friends. The article is titled: It is Probably About Time to Grow The Fuck Up. This article is just a kick in the pants and tell it how it really is type of article. Evan channeled his inner Larry Winget for this one. I loved it. Read it with a heavy no nonsense NY accent.
An article written by you that you would like everyone to read?
An article of mine in which everyone should read is titled: “Work Hard and Shut Up” I just love this article and think everyone will benefit from it. It has a good message, humor, motivation, a call to action and an awesome video. What more can you want?
Image by macwagen