Formspring Question: what I write about
Someone asked a question on Formspring:
You talk a lot about “investing”, but your blog is centered on your basic budgeting and not what you earn/how you save. A lot of comments at the Toronto Star are looking for more details, facts or guidance. I am 20-something and you aren’t much help.
Are you going to take the Star comments seriously? You should post your response to them and what you’re going to do. I know how to budget (I’m a student). But how much you save, how u invest etc. is what is valuable.
Well I’m not sure I talk a lot about investing, because I really don’t. I am interested in investing, and one of my goals for 2011 is to get more involved, but I am not as knowledgeable as other PF bloggers out there. So if investing information is what you are looking for, I am not the right blogger for you!
I’m not sure how valuable it is to know how much I personally save or how much I am earning. Basic budgeting will work for every person, regardless of income level. So if you’re saving $100/month or $1,000/month, you still have to live within your means, pay yourself first, and understand that you can’t have everything you want. In my Moneyville posts, I detail how I was able to save and get out of debt, by telling the process I went through and pointing out tips I learned along the way. I’m not sure what other facts or guidance you are looking for?
That being said, all of the information you asked me (income, how much I save, investment info, etc.) about can be found on this blog. I might not have written about it in the past few months, but it’s all there.
My strongest asset is my ability to stick to a budget and save money. So that is what I write about. My goal is not to become an all-encompassing personal finance blogger that will please everyone. My goal is to write about my past experiences and future goals in hopes of generating a discussion and perhaps helping some people along the way.
Give Me Back My Five Bucks has always been my online “financial diary,” and I don’t intend on changing that. My Moneyville blog reflects on my experiences and offers up tips and commentary on what I know. I’m not going to write about investing because it’s not something I know enough about. There are plenty of other bloggers online and on Moneyville that have strong investment skills, so until I build up that kind of knowledge, I’ll leave it up to them.
Here are the answers to your questions:
Investing
Currently I invest in mutual funds (both in an RRSP and a non-registered account). I have this account set up through TD Canada Trust’s e-series funds, where I manage my own portfolio. My portfolio consists of 25% Canadian, 25% USA, 25% international, and 25% fixed. I have plans to become more aggressive with my portfolio after I utilize the First Time Home Buyer’s Plan. Until then, I need to have confidence that the full $25k will be there if I need it.
I also have two TFSA accounts (one with PC Financial and one with ING Direct).
Income
My annual income is around $65,000-70,000. My PT job, income from this blog, and freelance work make up 25-30% of that total. At first I was scared of this diversity, but now I embrace it because I know if one stream of income ever stopped, I would still be okay.
My savings and budgeting mentality hasn’t changed from my first job out of college where I made $30,000.
Saving
I save a minimum of $800/month right now through automated savings. Because we are a single income family, it’s not as much as I would like to save, but I do try to hit the $1,000-1,200 mark when possible. Once BF finishes his training and becomes certified (February or March), his earning potential will be around the same as mine and we will begin aggressively saving.
I hope this post has answered all of your questions.
40 Responses to “Formspring Question: what I write about”
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Your income being diversified is such an awesome thing. Great job :D
As for that reader, check out my blogroll under "Moneyed Blogs". They talk a LOT more about investing: http://www.fabulouslybroke.com/blogroll/
I'm also wayyyy riskier than you are in investing. My stocks are in dividends, golds, emerging markets (brazil), company stocks (starbucks) and plain ol' cash. I never invest what I can't afford to lose.
My recent post Afternoon Tea Afternoon rip off
Most of my international mutual funds are with emerging markets, but I totally agree. I have not been much of a risk taker when it comes to my investments. Mostly because I always knew I'd utilize the First Time Home Buyer's Plan, and I can't afford to be risky with money I will need to have in the short-term. As soon as I buy a place, I will reallocate my monies and start investing in riskier things.
That makes total sense to me. I don't have that need for the money, so I can wait out until the market improves etc.Which emerging markets??
I've been investing in Latin America for the past few years, and that fund has actually been the best performing this year. I also invest in a fund that is actually called Emerging Markets.
Ditto! :) They've been doing well for me so far.
FB I am curious as to why you chose Brazil? Care to share?
My recent post Correction!
Your income being diversified is such an awesome thing. Great job :D
As for that reader, check out my blogroll under “Moneyed Blogs”. They talk a LOT more about investing: http://www.fabulouslybroke.com/blogroll/
I'm also wayyyy riskier than you are in investing. My stocks are in dividends, golds, emerging markets (brazil), company stocks (starbucks) and plain ol' cash. I never invest what I can't afford to lose.
My recent post Afternoon Tea Afternoon rip off
Most of my international mutual funds are with emerging markets, but I totally agree. I have not been much of a risk taker when it comes to my investments. Mostly because I always knew I'd utilize the First Time Home Buyer's Plan, and I can't afford to be risky with money I will need to have in the short-term. As soon as I buy a place, I will reallocate my monies and start investing in riskier things.
That makes total sense to me. I don't have that need for the money, so I can wait out until the market improves etc.
Which emerging markets??
I've been investing in Latin America for the past few years, and that fund has actually been the best performing this year. I also invest in a fund that is actually called Emerging Markets.
Ditto! :) They've been doing well for me so far.
FB I am curious as to why you chose Brazil? Care to share?
My recent post Correction!
I think this was a good answer for that comment. Someone asked me about investing on twitter, but I'm hesitant to touch the topic. What I currently do and what I want to do with investments is probably not for everyone and I would never want to be in the situation where someone lost money by following my advice!
I think this was a good answer for that comment. Someone asked me about investing on twitter, but I'm hesitant to touch the topic. What I currently do and what I want to do with investments is probably not for everyone and I would never want to be in the situation where someone lost money by following my advice!
I don't look at your blog as an investing blog. I'm looking at it as a blog about saving and responsible spending. After all, the best way to invest yourself is to save. I think the person who sent you that comment got the wrong idea about what you are up to.
I think you've given a good answer, and let's leave it to that.
I don't look at your blog as an investing blog. I'm looking at it as a blog about saving and responsible spending. After all, the best way to invest yourself is to save. I think the person who sent you that comment got the wrong idea about what you are up to.
I think you've given a good answer, and let's leave it to that.
Financial and money management topics are so wide and varied. I agree with you that you have not written about investing all that much and I would also congratulate you on understanding where all your money is going and showing how you make decisions. You sell stuff in order to buy other stuff. It's so easy to get in the rat race and start spending more as you make more and you are consistently showing how to stay (or at least try to stay) within budgets.
Investing, I would say is a whole other level where you look at how to make your money work for you but it means you need to have some money.
My recent post 5 Income Trusts Im Following- Part 4 with Inter Pipeline TSE-IPLUN
Financial and money management topics are so wide and varied. I agree with you that you have not written about investing all that much and I would also congratulate you on understanding where all your money is going and showing how you make decisions. You sell stuff in order to buy other stuff. It's so easy to get in the rat race and start spending more as you make more and you are consistently showing how to stay (or at least try to stay) within budgets.
Investing, I would say is a whole other level where you look at how to make your money work for you but it means you need to have some money.
My recent post 5 Income Trusts Im Following- Part 4 with Inter Pipeline TSE-IPLUN
Krystal I have been following your moneyville blog and notice a lot of harsh comments. I hope you don't let it get to you. I'm not sure where these people come from but I don't see the point of making a comment like that!!
My recent post Correction!
Krystal I have been following your moneyville blog and notice a lot of harsh comments. I hope you don't let it get to you. I'm not sure where these people come from but I don't see the point of making a comment like that!!
My recent post Correction!
Hey Krystal – "My strongest asset is my ability to stick to a budget and save money." — I think that's an incredible asset. Would you post about that sometime? Where do you think that ability came / comes from ? Was your family frugal and disciplined? Do you just so clearly know your goals that you have the inner drive required?
My recent post In which Hacktivists take down Mastercard- and Paypal’s next O My!
Hey Krystal – “My strongest asset is my ability to stick to a budget and save money.” — I think that's an incredible asset. Would you post about that sometime? Where do you think that ability came / comes from ? Was your family frugal and disciplined? Do you just so clearly know your goals that you have the inner drive required?
My recent post In which Hacktivists take down Mastercard- and Paypal’s next O My!
Whoa… i went over to moneyville to check out some of the comments… YEESH. Some people honestly have nothing better to do than try and tear other people with their harsh words. I hope you let those comments roll off your back.
I agree, I think the most important thing is paying yourself first and budgeting and you have obviously mastered that! :) People need to do that before they even start investing…
Makes sense that you want to make sure that the money is there for your first home. Your asset allocation for your TD eseries is more aggressive than mine :) I have it with 40% fixed.
It's gotten so bad that I actually choose not to read the comments anymore. Over the past 4 years of blogging, I've gotten a lot of nasty comments and I've learned just to let it go. People are so mean on the internet because they can hide behind their computer screen without having to deal with the consequences of what they're saying. I'm sure if they were to ever read comments like that about themselves, they wouldn't feel so good.
I just quickly browsed through some of your posts on moneyville (which I'm probably going to check that website out a little more, even though I don't live in Canada) but people are really rude in the comments! It may be best you don't read through some of them! It surprises me how many self righteous people there are in this world, who DO hide behind their computer screens… Just keep doing what you are doing Krystal! We all appreciate the effort you put into this blog!
My recent post New Side Bars!
I think you've summarized nicely what your blog is all about and do a good job at talking about budgeting and knowing where your money goes. While I also enjoy your moneyville posts, I have to admit that I do expect more from a national newspaper in terms of content. The whole revamping of their finance section into blog posts is lacking and they should have stronger content – they are informative and fun to read, but pretty basic. I hope you don't see that as a knock against you – you are good at what you do and realize what your strenghts are. I just see how people might expect more for the Star – but that shouldn't be taken out on you.
:( Sorry to hear that. I've gotten some nasty comments I find on other websites (vancouver real estate websites etc) about my decision to buy a place too (in this economy etc) and it had really hurt my feelings, I get a day of "hmm maybe I should give up, I can't take these hurtful comments anymore", then the next day I dont feel as bad. But it still hurts. I totally admire you for being so strong and poised. Youre right- they would never say those things in person… it's the dual edged sword of the internet, eh? :(
Whoa… i went over to moneyville to check out some of the comments… YEESH. Some people honestly have nothing better to do than try and tear other people with their harsh words. I hope you let those comments roll off your back.
I agree, I think the most important thing is paying yourself first and budgeting and you have obviously mastered that! :) People need to do that before they even start investing…
Makes sense that you want to make sure that the money is there for your first home. Your asset allocation for your TD eseries is more aggressive than mine :) I have it with 40% fixed.
It's gotten so bad that I actually choose not to read the comments anymore. Over the past 4 years of blogging, I've gotten a lot of nasty comments and I've learned just to let it go. People are so mean on the internet because they can hide behind their computer screen without having to deal with the consequences of what they're saying. I'm sure if they were to ever read comments like that about themselves, they wouldn't feel so good.
I just quickly browsed through some of your posts on moneyville (which I'm probably going to check that website out a little more, even though I don't live in Canada) but people are really rude in the comments! It may be best you don't read through some of them! It surprises me how many self righteous people there are in this world, who DO hide behind their computer screens… Just keep doing what you are doing Krystal! We all appreciate the effort you put into this blog!
My recent post New Side Bars!
I think you've summarized nicely what your blog is all about and do a good job at talking about budgeting and knowing where your money goes. While I also enjoy your moneyville posts, I have to admit that I do expect more from a national newspaper in terms of content. The whole revamping of their finance section into blog posts is lacking and they should have stronger content – they are informative and fun to read, but pretty basic. I hope you don't see that as a knock against you – you are good at what you do and realize what your strenghts are. I just see how people might expect more for the Star – but that shouldn't be taken out on you.
:( Sorry to hear that. I've gotten some nasty comments I find on other websites (vancouver real estate websites etc) about my decision to buy a place too (in this economy etc) and it had really hurt my feelings, I get a day of “hmm maybe I should give up, I can't take these hurtful comments anymore”, then the next day I dont feel as bad. But it still hurts. I totally admire you for being so strong and poised. Youre right- they would never say those things in person… it's the dual edged sword of the internet, eh? :(
It sounds to me as if the student making the comment, wanted you to take control of their finances, and not take personal control of them themselves. you can only offer some guidelines the rest is an individual journey.
Why be mean, what do you get out of that ????
My recent post My Whinge FestSorry !!!!!
It sounds to me as if the student making the comment, wanted you to take control of their finances, and not take personal control of them themselves. you can only offer some guidelines the rest is an individual journey.
Why be mean, what do you get out of that ????
My recent post My Whinge FestSorry !!!!!
This is a really good post – I like that you covered all the different topics. Kudos for crafting a thoughtful reply to these negative comments too.
I certainly respect your decision to focus on your points of strength and what you know most about. I have been reading your blog – both this one and the Moneyville one – for some time and I find them interesting.
This is a really good post – I like that you covered all the different topics. Kudos for crafting a thoughtful reply to these negative comments too.
I certainly respect your decision to focus on your points of strength and what you know most about. I have been reading your blog – both this one and the Moneyville one – for some time and I find them interesting.
Great response! I agree, it's very easy for someone to hide behind the internet, and those comments are quite harsh! I am surprised that you continue to blog and write on Moneyville without letting it bother you. It would've bothered me a lot :S!
I guess in a way, people who read the news paper look for facts/ statistics and numbers to back up their information, so instead of asking for more of that, they choose to attack what you've written about.
Great response, and I agree that saving really is is the best investment.
Great response! I agree, it's very easy for someone to hide behind the internet, and those comments are quite harsh! I am surprised that you continue to blog and write on Moneyville without letting it bother you. It would've bothered me a lot :S!
I guess in a way, people who read the news paper look for facts/ statistics and numbers to back up their information, so instead of asking for more of that, they choose to attack what you've written about.
Great response, and I agree that saving really is is the best investment.
Don't let the comments bother you! Some people have simply nothing better to do with their time. What ever happened to, if you have nothing nice to say, don't say anything at all. If someone wanted professional advice, why don't they pay a professional for it. I enjoy your blog @ moneyville a lot.
Don't let the comments bother you! Some people have simply nothing better to do with their time. What ever happened to, if you have nothing nice to say, don't say anything at all. If someone wanted professional advice, why don't they pay a professional for it. I enjoy your blog @ moneyville a lot.