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Today, in the ongoing Reader Profile Series, we’re getting to know MPFJ.com reader and enthusiastic commenter, John, from the site, Frugal Rules (also shown in the picture to the right – Sorry to disappoint ladies, he says he’s married in the 2nd paragraph below). Let’s all give John a big round of applause for sharing his life with us and listen to his story. Enjoy!
Also, if you’re interested in sharing your own financial story/journey with us in a reader profile of your own, just shoot me a quick email, and we can get the ball rolling! Â
1. PLEASE TELL EVERYONE A LITTLE BIT ABOUT YOURSELF (BACKGROUND, EDUCATION, FAMILYÂ SITUATION, ETC).
My name is John, and I’m the founder of Frugal Rules, a blog created to help people experience financial freedom through frugality. I’m passionate about budgeting, saving, and investing and enjoy sharing my knowledge and experience with others so they can avoid making some of the mistakes that I’ve made.Â
A veteran of the financial services industry, I have an MBA in Finance and experience as a licensed stockbroker. I’m married with three young children and run an advertising business from my home with my wife. I left my former position nine months ago to grow our advertising business, which my wife started three years ago.Â
2. DESCRIBE YOUR CURRENT FINANCIAL SITUATION (WHO WORKS IN YOUR FAMILY, HOWÂ YOUR INCOME IS, YOUR EXPENSES, ETC.).
My wife and I run our business together from our home. While being self-employed has its rewards and risks in terms of income and expenses, we wouldn’t trade it for anything. We run a lean ship and as a result, the only debt we have is our mortgage payment. We’re seeing our business grow weekly, which has us excited and hopeful about the future.
3. WHAT ARE THE CURRENT FINANCIAL CHALLENGES YOU ARE FACING (SAVING, PAYING OFF DEBT, STUDENT LOANS, MERGING FINANCES AFTER RECENTLY BEING MARRIED, ETC.)?
When I left my job last year, we weren’t in a position to actively sock away money for retirement. Precious extra income went back into the business to help it thrive. Now that we’re more established, we’re looking forward to actively contributing to our retirement accounts regularly from here on out.Â
4. WHAT ARE YOUR PLANS FOR THE FUTURE (RETIRE EARLY; BUILD YOUR CAREER, ETC.)?
Our plans are to continue to build our business and see it grow to new levels of success. We’re actively working toward the point where we can be managing our own advertising agency.Â
5. WHAT’S YOUR BEST PIECE(S) OF FINANCIAL ADVICE AND/OR YOUR GENERALÂ PHILOSOPHY ON PERSONAL FINANCES?
My basic financial philosophy is simple – make your money work for you.Â
Whether you call it a “money plan” or a “budget,” it’s critical to know where your money is going and what it is, or isn’t, doing for you. Be wise about your spending and look for ways to make additional income with an eye toward the future. Life is meant to be fun, but that desire for entertainment has to be balanced with a thoughtful outlook that keeps the future in view.
Today should be enjoyed, but not at the expense of the future. Save now, invest now, and be wise with your money now so that you can afford to live how you want in the future, particularly after you retire.
***Photo courtesy of http://www.frugalrules.com/wp-content/uploads/2012/07/Profile-Picture.jpg
