Personal Finance Interview with Monk of MoneyMonk

The Minterview

Name: Moneymonk
Age: 33
Networth Range: $95,000 – $100,000
Profession: Computer Analyst
Websites: Moneymonk


Current Financial Strategy:

Pay off my student loan debt, contribute more to my retirement accounts. Keep investing in stable, good companies.

Best Financial Tip:

Live below your means. You do not have to spend your entire paycheck once you get it. If you do, either you need to make more money, or cut some of your expenses/debt. Once your expenses are under control do not get back into the habit of creating more debt. Avoid consumer debt if possible.

Worst Financial Move Ever:

Financed my first car and signed a balloon loan. 3 years later it was repossessed. 🙁 I guess I did not read the fine print. In my twenties I had trouble with delaying my gratification. Whatever I was approved for there was a 99.9% chance that I would use it to the max.

Financially, I need help with:

Creating income streams, I thought about prosper but I cannot pull myself together with loaning people money and charging them interest. I guess morally I do not feel comfortable.

What personal finance tools do you currently use to track and manage your money?

No tools I just login to my checking account online and pay bills from there. I do not have a credit card, so everything is done with my check card –groceries, dining out, b-day gifts, etc. You can learn a lot about yourself by just looking at where your money goes to. My paycheck is direct deposit to my checking and a portion of it is already taken out for my savings/investment accounts. I pay all of my bills either online or over the phone with electronic check. I love the 21st century~ woot !

What are the problems in your personal finance tools?

They don’t differentiate some bills. The categories seem to be limited. They sometimes create confusion for me.

How would your ideal personal finance tool work?

To show only the finances that I only allow when I log in. A shortcut view of my progress.

What more do you want to know about your personal finances?

I would like to know how every day people become sooo successful. I also want to find ways to spend less money without sacrificing my current lifestyle. I always look for deals and ask for discounts whether it be car service, traveling, or shopping. I tend to go to upscale stores and find the discount racks and find last minute travel bargains online. I want the best for less.

How much do you think you currently spend on eating out?

About 7 dollars a day on lunch. Sometimes we have free lunch at work. For the hours that I work, it makes no sense to cook because I get home late. My husband usually does the cooking since he is the first to get home.I tend to spend more on dining out on weekends about $20-$40 for dinner each day. It’s just something about the weekend that makes me spend more.

How often do you want to know about your personal finances?

As much as I can, I never stop learning. I’m truly a personal finance addict. It is always something I do not know. I frequent Barnes and Noble on weekends and read to my daughter. I also read a few personal finance magazines/books while I’m there.. When I have free time at work I roam through pf finance sites. I sometimes listen to Dave Ramsey callers on my car radio going to lunch or coming from lunch. I mainly love to hear stories of everyday people. It is more real than reading magazines articles on families that are always doing good. I also tune in to Suze Orman show when I can.

What is in my wallet?

My Driver’s License, a delta skymiles card, auto insurance card, debit visa card, health insurance, Sams Club card . I keep my cash in my pocket, usually less than $20 bucks.

Mint’s Note: MoneyMonk’s blog is a recent addition to the personal finance blogsphere. She’s able to save a hefty 45% of her take home income and one of her goals is to retire at 50. We believe she’s right on track!


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