Subscriber Swap Saturday: Money Ning

by Kevin on January 3, 2009

This is the sixth edition of Subscriber Swap Saturday.

I highly encourage all of my readers to subscribe to Money Ning for one week and see if you like what you find! Read more about Subscriber Swap Saturday at the link above. You can also read his interview questions for me.

David is an accidental professional blogger who stumbled onto personal finance blogging when he started Personal Finance Blog by MoneyNing.  Through his daily dose of articles, he shares his knowledge and experience by trying to explain the sometimes confusing advices out there.  Join the discussion by subscribing to his feed or getting them automatically through email to give yourself a better chance to be financially free.

Question (No Debt Plan): How long have you been blogging about finances, and what spurred the original thought of “Hey, I should start a blog”?
Answer (MoneyNing): Strictly speaking, I’ve had a blog since October of 2007 when I was playing around with the idea of keeping an online journal.  Back in the days, all I wrote was about my stock portfolio to organize my thoughts on how I felt about my investments and what I planned to do with them – it was my attempt to keep myself accountable.  As I continued to write more and learned about blogging, I became interesting in the idea of blogging itself so I started MoneyNing in March of 2007 to write about personal finance.  It wasn’t planned or anything, so what I’ve done with the blog was certainly a pleasant surprise!

Q: You recently left the corporate world to become a full-time blogger. I can only imagine that is a scary jump. How did you prepare financially and mentally for the switch?
A:  I learned early in my life that being scared is a state of mind that you develop for yourself.  Venturing out into the unknown is always scary but when I was seriously thinking about becoming full-time, the risks were not that bad financially or professional even it didn’t work out.  I think it helped that I had a little of the “minimalist” gene within me since an early age which jumpstarted my savings and prepared me financially.

It’s not like I wanted to go full time, then I developed a financial plan to get me there.  When I decide to do something, I require myself to already have the means to do so.  I always save more than I think I need just in case and I don’t try to do something and plan to have the means later.  In this case, if I wasn’t prepared financially to begin with, the thought of going full time would not come up.

Q: What was your greatest financial mistake in 2008, and how will you avoid it in 2009?
A: This question reminds me of the post I wrote last month called Why Investing in Stocks was Not a Financial Mistake because I, like many others, have lost tons of money on paper in 2008.  When I consider financial mistakes, I think of not specific results but the mindset behind the decisions.  In that regard, I’d have to say that not putting more money into safer investments is a financial mistake in 2008 (I was too greedy and careless).  While the end result is the same (too much money in stocks and lost money), the subtle difference to me is huge because it could be a financial mistake even if I made more money than everyone.

As to avoid it, the solution is simple – Just Do it 🙂  Change that asset allocation even though stocks may seem like a better investment going forward.

Q: You got married in February of 2008. How have you handled financial disagreements between spouses?
A: Financial decisions in our marriage came easy.  Part of the reason why Emma and I were so compatible is that we share similar views about money and spending.  It also helped that we both lived much below our means.  This made our “splurge moments” easy to justify because it could easily be covered by our budget and savings, not to mention that we don’t need expensive gifts to make ourselves happy.  (for example, we just can’t understand those Lexus commercials of buying cars for Christmas).

I’ve answered your question like we have no disagreements, because there really isn’t.  When there’s something we don’t initially agree on, we will find a compromise, so if we never leave a situation where we don’t agree on something, where’s the disagreement?

*****

Hey readers — David is writing about personal finance full-time. Why don’t you go visit Money Ning, subscribe, and help him earn an income? Oh yea, he’s able to do this full-time because he’s a great writer not just a great blog income producer. Thanks, David.

{ 1 comment }

MoneyNing January 3, 2009 at 6:17 pm

Hey thanks for the chance to answer some of your questions! It was fun!

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