What’s your approach to personal finance?

Do you think incurring that debt was worth it?

I’m not happy it’s there, and I’ve been paying it down, but my savings would have been totally tapped out if I hadn’t incurred it in the first place. It was the better of two bad options, I guess.

Unfortunately, that’s the reality sometimes. Do you have any savings goals? If so, what are they?

I’d like to get back up to six months’ expenses in my emergency fund, pay off the credit card debt I mentioned and earmark some money for travel and gifts.

How did you decide on six months’ expenses as the goal for your emergency fund?

Originally it was just general advice I’d seen online, but now it lines up with my disability insurance through work. My plan, that I hope I never have to use, is to live off that savings for the first six months until I become eligible to receive benefits.

How was the topic of money approached in the home you grew up in? What factors do you think influenced that approach?

My parents and I really never talked about money beyond “make sure you save something” and “be careful with debt,” which I think is because those are things they’ve struggled with and they didn’t want to see me and my siblings fall into the same trap.

How do you think that affected your attitude toward money and your personal finances?

I didn’t always follow that advice, so looking at it now, it’s made me realize that my parents are pretty smart people!

Has your approach toward personal finance changed since you left home? How so?

I’m a lot more conscious of making sure my living expenses don’t outstrip my income. I try to live on my last month’s pay, which helps when unexpected things crop up. They always do.

What is the best monetary investment you’ve made? This can include money spent on education, a well-fitting suit for job interviews, etc.

This may sound a little materialistic and might be missing the point of the question, but hey: When I’m shopping for something–clothes, electronics, shoes, etc.–I always do a lot of research beforehand to come up with something that’s well-made and will last a long time. Sometimes that means paying a bit more than might seem reasonable–$300 for a good pair of dress shoes sounds like a lot, but when they come with a lifetime warranty and can be sent back to the manufacturer to be resoled, the extra cost can pay for itself versus spending $20 on shoes at Target.

What monetary investment do you regret the most and why?

I got myself into trouble with credit cards and personal loans when I was younger and paid more in interest than what I actually spent the money on in the first place. I kept track of the interest, and looking at that number and knowing I could have saved it or invested it is what I regret most.

Besides what your parents told you, are there any other resources or tools you’ve used to learn about and manage your personal finances?

Lots of reading and research! I guess that goes with what I said about researching the things I buy–when I’m curious about something, I take the time to learn about it and see what makes the most sense.

What does financial stability mean to you?

Being able to live comfortably and do the things I want without worrying about taking food off the table or the lights going out. (Within reason, of course. I doubt I’ll ever own a Gutenberg Bible.)

Do you, or someone you know, want be interviewed? Email Heather.