This is the ninth in a series of personal finance blogger interviews with fellow personal finance bloggers. Today’s guest is Maria from The Money Principle.
Who is Maria?
Maria: Maria Nedeva, Owner and Mistress Supreme of The Money Principle.
Why did you start your blog?
Maria: I am a bit of a luddite and ignored the internet and all that is to do with it for a long time; except e-mail which, of course, I had started using for work. Surfing the Net? No thanks; I’d rather surf the waves of life. Then about four years ago, we realized that we are in debt; a lot of debt. This shouldn’t have happened – a university professor and a statistician/techie/Internet geek shouldn’t just find themselves in this situation. It did! And made me understand that I can marry the two loves of my life – writing and money – and start learning and writing about money. I asked John (my husband and partner on The Money Principle) what is a blog; he explained but I didn’t really get it. Three weeks later, The Money Principle was born. I learned about money, I wrote about money and I muddled through this blogging lark. Today, we have no consumer debt, The Money Principle has grown rather nicely and we show smart people how to win the Game of Wealth by learning and doing.
What are your favorite Blogs?
Maria:I read many blogs and I discover wonderful gems all the time. But my absolutely favorite will have to be:
- Seth Godin’s Blog: I read it every day for inspiration.
- The Altucher Confidential: I think I have a blog infatuation in this case; I also think that James Altucher is one of the cleverest, messed-up people I’ve read.
- Social Triggers: Because I always learn something I didn’t know when I visit.
- Budgets are Sexy: One has to read for the soul as well :).
When did you first become financially literate?
Maria: Very late in life. Three years and nine months ago, to be precise. Before then, I had no interest in money at all – as I’ve said before I didn’t know how much I earn and this is not exactly hard, just needed to look at my pay-slip. Have gone such a long way since then, though, which is the advantage of a good education and curious mind.
What was the last item you regretted purchasing?
Maria: A laser depilation machine. This was three years ago and I still had not mastered the art of mindful spending.
If you died today, would your family be OK?
Maria: More than okay; my family will be positively wealthy. I am still worth more alive, though (or this is what I’d like to think).
What are you teaching (or will you teach) your kids about money?
Maria: I am telling my son the following:
• If you wish to masterfully manage your money learn how to spend it, not how to save it.
• Money can’t be spend twice so work out what you really want.
• Master your wants; there isn’t much you could do about your needs.
• In your twenties, invest in yourself: get an education, travel, learn about other cultures, live in other countries, try things out and fail. Compound interest is over-rated!
• Live for today but always plan for the future.
What’s your dream job?
Maria: Best paid writer :).
What is the one thing that can make me very wealthy? (write in question)
Maria: No, it isn’t to spend less than I earn – this is obvious and we are doing anyway. The one thing that will make me very wealthy is to be able to continue to manage my finances as if ‘I need to’ when ‘I simply want to’. This is why it is easier to pay off debt than to build investments; because when you are paying off debt you have to spend wisely, earn more and put away the difference.
Author’s bio: I am Maria Nedeva, the blogger behind The Money Principle where I show smart people how to win the game of wealth by learning and acting. My brand of money management comes with a side dish of logic, analysis and sociology.