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FinCon17 Dallas Recap

November 1, 2017

fincon17 dallas These past two days I’ve gotten so much sleep and it’s been great. Last week I was in Dallas, Texas attending FinCon17. It was amazing, I learned a lot, I lost a lot of sleep, and all in all, it was a great experience.

This year’s conference was my second time attending, the first being last year’s FinCon16. Just like last year, the journey to get to the conference was hectic in the most pleasant way.

The last six months I have been living in Australia so my starting point to the conference happened in Perth, Western Australia. This time around, I tried to prepare against any jet lag that was bound to happen.

Last year when I came to FinCon, I didn’t prepare at all and ended up crashing for a long nap at around 3pm every day. Not the best way to spend a conference, eh? So this year, in preparation to beat jet lag, I stayed up for 30 hours while on my flight journey to FinCon.

This sounds as exciting as reading it. It mainly involved drinking excessive amounts of coffee and pacing around the airport endlessly. I loathe coffee but it was a necessary evil in this case. I ended up not falling asleep in the afternoon while at FinCon! Success!

Admittedly, I was tired during the afternoons, but maybe that had more to do that I didn’t get a lot of sleep while attending the conference. I don’t regret it one bit though, the four days of FinCon were great.

I came home full of inspiration. There was so much I learned and so many amazing people I got to talk with. The 4-hour Megabus journey back to Houston went by in a flash because my thoughts were filled with all the stuff I wanted to do going forward.

PREPARING FOR FINCON

My FinCon preparation extended beyond just staying up for 30 hours to beat jet lag. I actually formed some goals I wanted to achieve while there. This ended up making my experience so much more enjoyable.

My first FinCon experience (FinCon16) was great but it felt confusing as well. I hadn’t gone into the conference with an idea of what I wanted to get out of it so I ended up feeling conflicted about what to do with all the information I got.

I think part of it had to do with being a new blogger. My blog was seven months old when I went last year. I hadn’t really defined what my niche was within personal finance (budgeting, side hustling, frugality, debt, etc) so everything felt like a lot.

After seeing a thread in the FinCon Facebook group about everyone’s conference goals, I decided to make some.

Meet fellow bloggers/FinMedia people
Find new, higher-paying freelance clients
Learn about the new FinTech services
Learn about different ways to grow a brand

They were simple-ish and not a set “I want x number of this or that” type goals. Even so, having them gave me a good framework going into FinCon17. Having set goals may not work for everyone but with my love of organization and planning, they really helped me.

It was fun getting to meet all the different financial media people and bloggers I interact with online. There are so many people I wanted to meet and say hi to but I knew it was better to practice quality over quantity.

I reconnected with people from last year and got to connect with new people from this year. A lot of the interactions were so fun. I would spot someone while walking through the hotel, there would be a moment of hesitation wondering if it was really them, it really would be them, and cue the internal freak out as I got to talk with them.

In terms of finding freelance clients, there were two things that were very helpful: the freelancer’s marketplace and the one-on-one mentoring. I got to meet with several bloggers and companies at the marketplace and exchanged business cards.

I made it a point to sit down and really take the time to conversate with each of the companies. There was one company I really loved the mission and personality of. Hopefully the connections I made pay off!

The one-on-one mentoring was something I got to do for the first time. I signed up a few weeks before the conference when the email got sent out and hoped to pair with someone in the freelance writing space.

I got paired with the perfect person! It was with fellow personal finance blogger whose coaching program I had done just a few months ago. Perfect fit and I got to get some burning questions answered.

If there is an area you want to grow more in, definitely consider signing up for the one-on-one mentoring. It was worth it for me.

Meeting Other Bloggers

FinCon is like a family reunion. One that you actually want to go to

I think Pat Flynn said that. Not too sure, but it’s definitely true. The best part of FinCon is the people. Getting to hear their stories, their struggles, and their plans for the future. It’s great to be surrounded by like-minded people and have thoughtful conversations about money and beyond.

I got to see Cait Flanders again, who I met again while sitting in the hotel lobby at 10 pm. I can’t wait for her book The Year of Less to come out in January. She won best minimalism blog this year at the Plutus Awards!

Lauren from Financial Best Life. I’ve been following her blog forever and it was one of the first personal finance blogs I started reading. She has one of the funniest and relatable writing styles. I randomly met her while stuffing cookies into my swag bag in the expo hall, haha.

Gwen from Fiery Millennials I met again while volunteering on the first day. The F.I.R.E panel she was part of was one of my favorite sessions of the conference.

I immediately thought of Desirae from Half Banked when David Bach started to discuss his (controversial?) “Latte Factor” during a keynote. I got to meet Mixed Up Money, who probably has one of the funniest personal finance blogs around.

I went to lunch one day with several bloggers including Catherine from My Work Money Life who told everyone at the table their personality types. Apparently, I’m an INFJ. I also got to meet up with all the people I connected with through the conference app including Ashley from WiseBread and Liz from Kitchen Table Finances.

Allea from Ask Allea I bonded with over a love of gifs and Taylor Swift. Jen from Saving With Spunk who recently became debt-free! And a bunch of other people. So many awesome conversations.

The Sessions

The sessions at FinCon17 were top notch. There was a lot of variety including 20-minute sessions, hour-long sessions, workshops, and discussions. It felt like a good improvement from last year.

I liked that there were more sessions aside from just brand building and blog monetization. I loved the FIRE panel “What’s Wrong with Being on FI/RE?” with Our Next Life, Fiery Millennials, Bigger Pockets, and Military Guide.

I caught the first few minutes of Kylie Travers “How to Turn Your Obstacles into Opportunities to Accelerate Your Business and Life”. She’s one of the Aussies I got to talk to while at FinCon and I love her story of growth.

I liked the session on growing a brand and making products, but it was nice to get to go to sessions about personal finance topics and discussions. The first-day workshops were so helpful. They included a lot of hands-on learning where you got to bring your laptop and follow along with the speaker.

FinCon is a conference geared mainly towards the marketing aspect of building a platform rather than general personal finance discussion. There have been some suggestions in the past for FinCon to have more panels centered on discussing topics within personal finance and I think they’ve really made an effort to improve in this area.

There will always be a main focus on the marketing aspect, but it was nice to see more variety in the panels, both in terms of the topics discussed as well as the speakers. I like that the team makes an effort to take into account all that the attendees recommend.

Biggest Takeaways

Be Yourself.

It’s been said so much it’s become a cliche that lifestyle coaches put on their Instagram captions. It’s on par with the sayings of ‘get enough sleep’ and ‘eat breakfast’. While I didn’t get enough of either of the latter two during FinCon, I did learn the value of being yourself.

As I mentioned earlier, the sessions this year were wicked awesome. Part of what came from the diversity of the sessions was a bigger emphasis on perspective. There were a lot of perspectives and over and over again I heard from people who talked about the different ways to go about growing a brand, reaching financial independence, and getting better with money.

There is a lot of talk about the “right” way to do something, but with the FinCon community, these are people who aren’t doing the conventional, and they’re rocking it.

Companies are creating new FinTech services that change the way we manage our money, people are approaching FIRE in different ways, everyone is using their own perspective to better the financial media community in a unique way.

FinCon felt different for me this year. When I first went last year, I still hadn’t found my blogging voice. I wasn’t sure exactly how to handle all the stuff I had learned. This year was better. I felt surer of myself and was able to focus better.

The conference was really big this year. There are always pros and cons when things get bigger. FinCon16 had 1200 people and this year it was 1700 people. While I can’t say too much about the cons, I can signal one big positive: more voices and more perspectives. And that’s really awesome in my book.

Did you attend FinCon17? Are you going to FinCon18 in Orlando, FL?

How To Develop a Money Mindset

August 24, 2017

Note: This is a guest post written by Jacob of Dollar Diligence.

Having a financial background is always beneficial when it comes to managing your money, but you do not have to have a financial background to be able to handle your expenses.

In fact, I did not have a solid financial background or any type of economics training when I finally decided to tackle and pay off my student loan debt.

I just did it.

In this post, I want to share some tips about becoming financially savvy. I want you to be able to benefit from the advice and I want you to feel confident in your ability to manage your finances and break up with your debt, if you have it.

Don’t Give in to Your Wants

It can be easy to want, want, want, especially when the newest TV hits the shelves or when the latest phone is ready for purchase. Yes, we all want these items, but we do not need them. In fact, that TV you have in your home probably works just fine and your phone does exactly what it is supposed to.

While it is okay to indulge a bit, you do not want to overspend or overindulge. You need to learn how to be frugal. If you do, you will quickly find that you run out of money and you do not have the funds you need to pay off your obligations.

Don’t Dwell on Your Past Financial Problems

While your financial problems from the past will still exist, there is no reason to dwell on them and doing this will only cause you more financial stress. It is important to stop the habits that caused your financial decline in the first place, but they do not have to rule your life. You should take a step back and look at the whole picture. This way, you can determine what you need to do differently and how to do it.

You want to learn from the mistakes you made and avoid doing it again.

For example, maybe you used a credit card incorrectly and racked up a ton of debt. Once you have the opportunity to get a new card and a second chance, don’t spend your plastic money wildly. Or, maybe you have missed student loan payments in the past, but are now finally set on paying them off.

Don’t fall into old habits. Come up with a goal, create a plan for achieving it, and don’t settle for anything less.

Have an Emergency Savings Account

It is scary to see that most Americans do NOT have a savings account and those that do often carry a balance of less than $1,000. What happens if you were to lose your job or you were to experience a serious disaster. Most people would have nowhere to turn and they would be left in a serious bind.

It is important for you to make sure you plan for your future and that you start an emergency savings fund. Most experts recommend that you have three to six months worth of bills and expenses saved up in case something was to happen.

If you decide to follow the six-month plan, how much would you need to have in your savings account? For example, if your monthly expenses are $2,300, then you would need to have $13,800 in your emergency savings fund to cover you for six months.

Invest

Do not take a backseat approach to investments or a retirement account. It is important that you have these because you will need them, especially if you plan to retire in your life. IRAs and 401Ks will allow you to start a nice retirement fund and you can even double your savings should your employer offer a plan that matches the amount you contribute.

Experts say that if you wait to invest in your retirement account then you will need to save a minimum of half of your paycheck by the time you are 40. Most people will NOT be able to this and I definitely know I would not be able to.

Be Careful with Your Credit

You credit score is not just a score and it tells potential lenders and creditors how well they can trust you to pay your obligations. If you have a poor credit score, you will find it is difficult to take out an auto loan or mortgage, be approved for student loan refinancing, or even rent an apartment.

Credit cards, late payments, and loans all affect your credit score, so if you plan to take out any loans or borrow any money, then you need to be responsible with it. Too many late payments can affect your score as well and it is HARD to recover once your score takes a nosedive.

Don’t Give Up – You’ll Get There

The most important thing to keep in mind is to keep going and not to give up. I was able to pay off $25,000 in just 15 months. I never thought it possible, but it was and I know that you can develop the mindset to pay down your debt as well. You do not have to be a financial wizard to free yourself from the chains of debt.

What has your journey been towards becoming financially savvy? How did you develop a money mindset?

Jacob is a high school math teacher by day and personal finance blogger by night. Follow his journey at @DollarDiligence!

But How Does It Make You Feel?

August 17, 2017

saving money doesn't have to feel like a sacrifice

Saving money is important. Duh! Right? Everyone likes to save money. Unless you’re one of those lucky souls who won the lottery and ride your Ferrari off into the sunset. For the rest of us, we like saving money.

At least I think people do. Most people would give a quick yes when asked if they wanted to save more money. If you read any of those “x tips to save more” articles on the interwebs, then you know the routine.

Cut your cable subscription, brown bag your lunch, and make water your friend rather than your carbonated pal, Coca Cola.

These are all often repeated tips. Why? Well, because they work. Lots of people do or have them and they can gain from cutting them out. The obvious gain being the saving money part. I mean, do you really need to buy a $10-15 takeout lunch every day of work? I don’t think so.

After doing the cutting back, you’re left with a nice little pile of newly available funds. You usually have a few options: put the money in your emergency fund, invest it, or use it to pay down debt. All solid options.

Making yourself be good with money usually starts with cutting back. The art of really understanding your wants vs. needs. The benefit is clear: you save more money! *fist pump*

Are there any other benefits? This is where people usually draw a blank. They’ve saved their money. There doesn’t appear to be any other advantages.

Well, pull up a chair because your impromptu saving money therapy session is about to start. Put your phone away, don’t check social media, and grab a piece of paper for notes. Let’s begin with a story.

For a long time, I struggled to give up my excessive TV viewing habit. There are just so many good shows! I used to be super into TV. I watched it, rewatched it and loved going over the different plotlines and stories. I even had an old blog where I used to write reviews of movies and television.

I was hooked.

While I’ve never had a cable subscription (#millennialstatus) I did use my parents and friends subscriptions to keep up with shows. When I finally decided to cut down on my TV viewing habits, it was difficult.

It was difficult because there was nothing tangible for me to see from cutting down on my TV viewing. I didn’t have a cable subscription, so it’s not like I was saving money by cutting a bill. Sure, I did have more time in my day, but the added time hit me like it hits most people: I didn’t know what to do with the time.

I sat around, did some extra writing, read some websites. Nothing substantial. However, through a slow progression, I started to see positive results. Without spending so much of my time watching TV, I was able to start studying Spanish again, I picked up a hobby in photography, and I started freelancing again.

Check out some of the photos below that I’ve gotten of Australia so far!

Australia work holiday visa — The South Australian Dingo Fence. Longest fence in the world!

Australia working holiday visa — Squinting while at The Breakaways in Coober Pedy, South Australia

Cutting down my TV viewing helped me feel better.

Every day I had something to look forward to. Instead of being huddled by my laptop watching the latest episode of Casual, I spent my time on Duolingo doing Spanish lessons. I watched YouTube tutorials to improve my photos. I sent out more pitches for freelance gigs.

To be honest, all of those new activities still involved me sitting in front of my computer, haha. However, I’m building my identity capital. Doing stuff that fuels me and really makes me feel good (rather than just that ~shook~ feeling I got after binging the latest season of Orange Is The New Black).

The same feeling came over me when I started cooking more rather than eating out all the time. Back when I was living in Thailand, it was easy for me to eat out. I didn’t have a kitchen (yes, really 🙁 ) and eating out in Thailand was inexpensive. I could usually get a meal for 50 or 100 baht ($1.50-3.00 USD). Imagine my shock when I got to Sydney, Australia (a.k.a one hella expensive place) and I realized eating out would break my budget…a lot.

Side note: visit Thailand rather than Australia if you wanna stretch your dollar further!

Once I started actually learning how to cook, my food expenses went down. It would have been easy for me to look at the savings at the ultimate be-all benefit, but it wasn’t. The biggest benefit was I started to feel better. Turns out, processed snacks and soda all the time really isn’t good for you :).

Ask yourself how your expenses and cutting back on some of them will make you feel. Sometimes you may have to cut back in order to gain more (ex. Cutting back on TV to make more time for freelancing). Maybe it will prompt you to pick up something else like a new hobby or activity. Whatever it is, don’t just see the cutting back as a way to save money. It’s always more than that.

Saving money is about more than just saving money. How does it make you feel? Click though to read about how to approach cutting back in a positive way.

The Uneven Nature of Life: An Update

June 19, 2017

Hello there blog reading people, I’ve been away for too long, although I’m not sure if you’ve noticed it as much as I have. Life has been coasting on uneven territory lately, so I wanted to write an update post. Here goes!

First off, I’ve been feeling down about this website since I haven’t made a solid focused effort to work on it for the past two months. Wow. Even writing that out hurts. The truth of the matter is that I’ve been on the move a lot. Going here, going there, and having to live out of a suitcase. Contrary to what some fancy travel blogger says, it isn’t fun to have to stuff everything into a backpack and duffel bag.

That is exactly what I’ve had to do. At the start of April, I went to Italy with my mom to visit one of her friends. I didn’t get to go to Rome or Venice or any of the main attractions. The week long trip consisted of staying inside my mom’s friends house in the small town of La Maddalena on a small island.

Being a small island, there wasn’t much to do. The trip consisted of sitting in a house all day for over a week. It was still good though. I got to have dinner with an Italian family and see a talent show.

After leaving Italy, I had returned to America for two days then boarded a plane to Australia. This.freaked.my.body.out. I had gone from America to Italy to Australia in a time span of two weeks and my body didn’t know when to sleep. It felt like I had some weird kind of extended jet lag. My first week in Australia consisted of falling asleep at random times, then feeling perpetually tired the rest of the time.

I got Australia in mid-April. The past two months here have been interesting, to say the least. I came here like most working holiday backpackers do: no job and ready to hit the ground running. Not too long after I arrived, I started a work for accommodation job at the hostel I was staying at in Sydney.

Work for accommodation jobs are a popular thing backpackers do to save money on accommodation costs. The way they usually work is you do around 10-20 hours per week doing housekeeping, cleaning or light maintenance duties. The job I had involved doing housekeeping: making beds and cleaning rooms. You guys…I’m shocked at some of the stuff I see in rooms, haha.

I stayed at the hostel for seven weeks, doing the work for accommodation and job searching and working additional jobs. The job scene for backpackers here in Australia is strange. There are some odd hiring practices like requiring a photo on a resume for “identification purposes”. I mean…what?!

A lot of the employers in hospitality/restaurant work seem to want a certain type of person for their waitstaff. I was talking with an Indian/Malaysian friend of mine. She talked about the difficulty she had finding a job in her industry and she has 8+ years of experience in the finance industry! It’s crazy and I plan on talking about it when I write up a guide on the Australian Work Holiday Visa.

As of right now, I’m in a little town called Bourke, NSW. It’s dubbed the “gateway to the outback”. With a population of just 2,000 people, the town is very small. There is just a grocery store, a gas station on the edge of town, and a desolate town center half-filled with vacant buildings. The town entertainment is a bowling alley. There are a few mom and pop restaurants, no big franchise places.

It’s small and without a lot but I think I kind of like it. I started my job at a supermarket a few days ago. The guesthouse I live at is located just across the street. Since there are very little restaurant options to be tempted by, I think my cooking skills will improve!

A cool thing I like about Australia is their superannuation fund. A superannuation fund is similar to an American 401(k) or Canadian RRSP. Get this, lots of people get them! Office jobs, retail jobs, waitstaff jobs, admin jobs, and so on. Many employers in many industries offer to contribute to your superannuation (similar to an American employer 401(k) match). The typical amount an employer contributes is 9% of your pay.

It’s so crazy to me that even people like waiters and waitresses have access to an employer-matching retirement account! Wow.

So far, Australian life is going good. I plan to be here for four more months or so, give or take. Hopefully I can master an Australian accent while I’m here 🙂

What have you been up to?

How To Get Through A Quarter-Life Crisis

June 14, 2017

overcoming a millennial quarter life crisis

There comes a point during your early to late twenties when you feel stuck. Not stuck in a traffic jam or being behind an apocalypse prep person at the grocery store. You’re in a rut where your sense of identity is thrown out the window and you don’t know what to do. The millennial quarter-life crisis is alive and real for lots of people.

Society loves to focus on formulaic and simple progression. You go to high school, get good grades, participate in extracurriculars, then go to university, do some internships, then start a job and climb the corporate ladder. We like to see a clear path to follow. When the clear path becomes blurry and full of uncertainty, anxiousness and doubt sets in.

Quarter-life crises don’t arise in the typical way people might expect: divorce, job loss, health issues, or death of a loved one. Most of them arise through a feeling of not being content. You don’t like the job you’re in but don’t know what new type of job you want. You don’t know what your values are in life. Staying in one place is unappealing, yet you still crave stability.

Understanding your purpose in life, the big sweeping thing that guides you constantly shifts. Maybe you’re underemployed, working a few part-time jobs to make ends meet, seeking the all-encompassing lustrous full-time job. Or maybe you work a full-time job you are disengaged with.

Regardless of the exact circumstances, you don’t think you fully know yourself and what it is you want.

Transitions are awkward. There isn’t a nicely laid out guidebook for you to fill out to be on your way. Some vague Google searches are usually the starting point.

It’s easy to stay stuck in the pit of uncertainty. If you watch any movie depicting twenty-somethings, the characters are usually working in jobs they don’t like and figuring out how to navigate the world.

Social media and mainstream media often make a note of the world conditions millennials face. There’s stagnant wages, low salaries, an ever rising unaffordable housing market, and student debt. It can be easy to drop into the mindset of always feeling like a victim unable to do anything.

Now, obviously, the system needs some changing. There is no doubt about that. I’m not going to preach about “work harder” as the be all end all. However, mindset really does have a huge role in your personal and professional development. It would be beneficial to cultivate a positive abundant mindset rather than a constant negative one.

When you feel lost and uncertain about your life and career, start by making a “not” list: a list of things you for sure do not want to do. Transitioning into a more fulfilling job and understanding your unique values is usually the main thing people want more clarity on in their millennial quarter-life crisis.

Write down things you don’t like about your job, things you do like, and so forth. Research different career paths you may be interested in. Start a blog about a topic you feel passionate about. Take some personality quizzes, some of which can be found here and here.

A great resource I used was a work personality assessment, by Disc Profile, which examined my areas of strength and weakness in the workplace. The assessment comes at a hefty price of $59, but I found the assessment to be valuable in helping me learn more about how I function in the workplace. [Include link to my assessment so people can take a peak?]

Start talking with other people about this period of confusion. Often times you find other people are going through the same thing. Reach out past your immediate friend group.

On the different token, spent more time alone. Haha, yeah, I know, you’re probably like “Whaa? You said start talking with other people? Yes, that’s important. Do that, but don’t forget about giving yourself some time to yourself. Think about it, how okay are you with being with yourself and processing your thoughts? Most of us crave interaction. When we are alone, we fill up the time with things like watching TV or scrolling social media. Two things that won’t exactly help you to understand yourself better.

TV and social media aren’t bad by themselves. However, when you’re using them out of boredom or avoidance of other things, they become an issue. Spent some time journaling or doing a hobby. It’s beneficial for your own good.

Small actions lead to big results

As you start to spend more time alone, figuring out the things you don’t want and talking with others, begin to contemplate what sort of things you want to really have consistent in your life. Things that get you out of bed in the morning when you would rather sleep in. Stuff that excites you. This could be in the form of bettering relationships with those around you. A hobby you could do in your downtime. Setting aside time for writing every day. Reading. Almost anything. Keep a little checklist to make sure you’re working on those things consistently. It doesn’t have to be every day, just consistently.

Live Simple

When you’re figuring things out with your life, money shouldn’t be a constant sort of stress, it’s important to live as simple as possible. When I graduated university, I started working at a job. After getting the job, everyone kept asking me when I would “upgrade” my crappy car with a new car. A lot of recent graduates get their first big person paycheck and spend it: they buy nice cars, nice apartments, new clothes, the whole shebang. I resisted doing this as I worked that first post-grad job because I found I didn’t really enjoy the job all that much.

It was a whole heck of a lot easier to leave that job because all I had were my student loans. Granted, I did still have thousands in student loan debt at the time, but I didn’t have a car payment or credit card debt or lots of expenses. Navigating the transition was a lot easier because I intentionally kept my expenses low.

Consistent smallness

Even though there is no magic blueprint for navigating the transition, not all is lost. Find things to work on. Things that can be a constant amidst a sea of change. Work on them consistently. Be small. Don’t balloon your expenses. Keep your “not-list” handy.

Together, they will pull you through each day. Ready to move forward.

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