This is the eighth edition of Subscriber Swap Saturday.
I highly encourage all of my readers to subscribe to Cash Money Life for one week and see if you like what you find! I’ve been subscribed for months now and have really enjoyed his articles. Read more about Subscriber Swap Saturday at the link above. You can also read his interview questions for me here.
Bio: Patrick is the author of Cash Money Life, a personal finance and career blog. His writing covers all aspects of personal finance topics including career, wealth building, investing, frugal living, and items related to running a small business. You can subscribe to his blog’s RSS Feed or get e-mail updates.
Question (No Debt Plan): What made you decide to share your financial journey on a blog?
Answer (Cash Money Life): I started writing about personal finance because it has always been an interest of mine and I often found myself entering financial discussions or answering questions for family and friends. I initially started Cash Money Life as a personal finance blog with a “salute to the military.” At the time, I was recently separated from the USAF and I realized there was not enough information out there for military members (there are many unique elements of the military pay system). Eventually, I realized that most of the general population didn’t want the military information, so I split it into two sites. Cash Money Life is my main personal finance site with daily updates and I post about twice a week on Military Finance Network.
Q: You mention on your blog that you are married without children. We’re in the same boat, but would eventually like to have children. For all of the dual-income-no-kids (DINKs) out there, how can we all best prepare ourselves financial for children?
A: My wife and I began preparing when we decided to get married. We knew that children would eventually be in our future, so we started cutting back on expenses and consolidating our accounts. My wife made the decision to separate from the USAF to pursue a job in the civilian sector. Her career change cost us approximately $20,000 in income per year, but it was worth it because she now works regular hours and does not have the risk of being deployed for long periods of time. Quality of life is much more important than money! It was also around that time that we started living on one income and saving and investing the other income.
Q: What is the end goal for Cash Money Life? That is, do you want to write a book, be on TV, be the next Dave Ramsey, etc.
A: I do want to write a book! But, I don’t want to write a financial book, I want to write a novel, so I guess that doesn’t have anything to do with Cash Money Life! I don’t see myself as the next Dave Ramsey or any other TV personality or syndicated writer. I don’t have the personality for it. I want to grow and expand the scope of Cash Money Life. I recently added an extension site to Cash Money Life – Money Saving Deals. The idea behind Money Saving Deals is to share coupons, bank bonuses and other freebies with readers without taking away from the main focus of Cash Money Life. For now I am concentrating on providing quality personal finance and career information and I hope to continue with the current set up for the foreseeable future.
Q: What tool(s) do you track your household budget and why?
A: I pay for everything with credit cards for a few reasons â€“ cash back, consumer protection, and to track my spending. To track the rest of my money I use the desktop version of Quicken. But I should probably update it more often!
Q: Do your readers learn more from you, or do you learn more from your readers?
A: Great question. I think a little bit of both. I share what I learn with my readers and it seems like and each new thing I learn opens three new doors. I receive a lot of reader questions, which I love answering, and I don’t mind doing some research if I don’t know the answer. There is a lot of give and take involved, and I wouldn’t have it any other way!
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Thanks, Patrick, for taking time to do these interviews.
Bloggers â€” interested in being featured? Check out the schedule. I’ve got openings coming up in February.