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Every Thursday I will be bringing you another instalment of my guest series, Money Talks. I’ll be featuring bloggers from all walks of life giving their answers to money-related questions. Hopefully, you will find a new blog to read and learn more about other people online. Money Talks will be live every Thursday and I’ve got some absolutely fantastic bloggers taking part! Hope you enjoy it. If you’re a blogger and want to take part then get in touch. This weeks instalment features Capital Matters. You can check out the Capital Matters website here.
When Did You Start Blogging?
I actually started blogging back in December 2017. I started off slowly but decided to take it up a notch and post more regularly starting from April this year (2018).
What Inspired Your Blog Name?
I wanted a name that had a double meaning (a double-entendre). I came up with a whole list of potential phrases I wanted to use until I settled on Capital Matters. Capital can refer to money/assets as well as something that is important. Matters, in this context, refers to how money is important but it also can refer more generally to news and updates on the topic.
What is your attitude to money – are you a spender or a saver?
It’s actually an interesting question because I think I am a bit of both. I see money as an asset that can go out into the world and work for you, making you more money. Whether that be through investing, business or something else. I recognise that if you spend money on the right things this can generate more in the long term (think of real estate or a business). So I would say I save in order to spend it in the right way. I am not a fan on spending money on temporary goods/experiences but I recognise that those things can make you happy. Our recent trip to Disney world wasn’t an investment for the long term. But on coming back, after being away, I felt focused and ready to get back into things.
What is the best bargain you have ever purchased?
I’m going to answer this question a bit differently to what you might expect. But without a doubt, the book “Rich Dad, Poor Dad” by Robert Kiyosaki, was the best bargain I ever purchased. Life changing knowledge can be cheap. I knew I wanted to spend my life building up assets that produced “passive income” but that phrase didn’t really enter into my vocabulary until then. Before I read the book I had always thought that money wasn’t just something just to spend. It was something that if used right, could generate more of itself. I thought I was strange for looking at it this way. But this book made me realise that this is how wealthy people thought. It reaffirmed my way of thinking and I think this will benefit me for years to come.
What is the biggest splurge you have ever made?
This one’s easy. The machine I am typing this on. My MacBook Pro with Touch Bar from 2016. I bought it just after it came out and it was a ridiculous sum of money. But to me that’s a small price to pay for ease and productivity. I now have a MacBook, an iPad and an iPhone which sync up to each other. I ignored the Apple haters and I don’t regret a thing. If you work on your computer for multiple hours each day, like I do, you have to enjoy and get on with whatever machine you’re working on.
If you had £100,000 right now, what would you do with it?
I would take some of it and put it towards increasing my house deposit (to decrease the loan to value ratio when you are searching for mortgages). I would take another portion and invest it over the space of 1-2 years (to take advantage of pound-cost averaging). I would probably take a very small amount and go on a weekend trip somewhere and stay in a nice hotel. But I wouldn’t be spending a large portion of it on that.
If you could go back 10 years and give yourself one piece of money related advice what would it be?
10 years ago I would be 13. I’ve always been a saver so I think I would tell myself “When you are allowed, invest in passive index funds”. Don’t waste even 1 or 2 years in a savings account with an interest rate below inflation. I probably wouldn’t understand what I’m talking about so I’d say go and listen to Warren Buffet on YouTube.
What was the last item you purchased?
The last item that wasn’t just everyday shopping was probably the board game “221B Baker Street”. My family loves a good board game and this one doesn’t disappoint. I love technology but it’s healthy to get away from screens from time to time. Board games are the perfect way of doing that.
What is your favourite ever blog post?
Sticking to the board game theme, this one is somewhat money-related. My post on Why Cashflow is Better Than Monopoly was really fun to write. Both are financial-based board games but Cashflow is by far the lesser-known superior. I wrote 7 tips on playing the game and came up with some alternative house rules.
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