Whitney Hansen has some great money tips to help you out with your personal finances. Check out her interview to find out about her best investment, favorite money books, and lots more!
Whitney Hansen is a money coach and has awesome blog as well. If you haven't checked out her money blog I highly recommend doing so at whitneyhansen.com.
She also offers money coaching for anyone who needs some help getting their finances under control.
Read on for my interview with Whitney.
What are your favorite books related to money?
My personal favorite money books are Money Master The Game, The Automatic Millionaire, Broke Millennial, The Power of Habit (this one is somewhat indirectly, but habits directly impact our financial lives), and Predictably Irrational.
What are your favorite apps related to money?
Google Sheets (so you have your budget accessible everywhere), Cinch Financial, Betterment.
What is the worst money advice you hear?
That you have to carry a balance on your credit card to build credit or that student loans are required for attending school.
What money advice would you give a 25 year old starting out in life?
Start your business sooner- you'll have more fun and increase your income faster, and stop spending money on material items- go travel instead.
Do you have any financial habits you live by?
I meal prep every Sunday for the entire week and only spend about $50 a month on coffee and eating out. Another financial habit is that I have an emergency fund for my emergency fund- I always keep $500 in my checking account.
What is #1 thing people should do today for a better financial life?
Reduce the amount of money they spend on eating out. We waste a lot of money on these things and for most people we are "eating" our retirement, vacation fund, and savings accounts. This is the biggest expense I see from almost all of my coaching clients.
Did you overcome any personal failures to get where you are today?
I've came across many failures during my journey. Thankfully, I have changed my perspective on failure and view every "no" or mistake another step closer to my goals. One specific failure that comes to mind is what propelled my business forward. I graduated with $30,000 in debt and felt like I should have tried harder during undergrad, worked a little harder, applied for more scholarships, etc.
What was the turning point in your life to become financially successful?
My biggest turning point came early on in my life when I was 16. My parents divorced and my mom found herself as a single mom with six kids, no education, and no money. For a period of time we slept on the floor in a tiny apartment. One day my mom and I were walking and found a mattress in the garbage can. We grabbed it and took it home, completely thrilled with our luck. That was a turning point for me. It made me realize that there is a big difference between a want and a need. To this day, that lesson I learned at 16 has guided me and helped me make better financial decisions.
What is the most worthwhile investment you have ever made?
The most worthwhile investment I have ever made is my 2001 Toyota Celica. I purchased it for $7,500 in 2007 and drove it for 11 years. It saved me thousands of dollars by not having car payments.
How can people follow and get in touch with you?
The best way is on my website WhitneyHansen.com. Aside from that, I can be found on Instagram (@whitney_hansen_co) and in my Private Facebook Group, Manage Your Money Like A Boss or hanging out on my weekly podcast, The Money Nerds.
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CREATOR OF LET'S AUTOMATE YOUR MONEY WITH MY LOVELY FIANCEE KRISTA