FRIENDS AND FINANCES FEATURING DR BREATHE EASY FINANCE

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Welcome back to friends and finances my featured blogger series that introduces you to some amazing bloggers. The biggest reason I decided to start this new series, is because I believe in getting different perspectives on handling your finances. I also believe that the bloggers featured here each week have a lot to offer the world and deserve recognition. Some of the blogs featured will be other personal finance related blogs and others will not be. The reason I chose to include some other blogs that are not related to finance is simple, we all have a financial story no matter who we are. I believe money is not the only focus we should have when traveling our road to financial freedom, and I think discovering some fun blogs that share something different can be a welcomed break from over focusing on money. Today I welcome Dr Breathe Easy Finance to share a bit about himself and his blog.

Dr Breathe easy

What is the goal of your blog?

Dr Breathe Easy Finance is a pulmonary and critical care physician by day and a personal finance blogger by night. Mrs Breathe Easy Finance is a nurse and stay at home mum who also give insight into budgeting through the lens of a frugal physician wife. She has been posting more and more. Our goal is to improve financial literacy among physicians and everyone willing to accept the challenge. I figured, if I help you breathe easy and better in my day job, why not apply the same principle to personal finance. Financial independence is our goal for everyone and we cater to the babies and toddlers of personal finance. Our mantra – spend less, save more, earn more and invest. Our main categories include budgeting tips, investing tips and general personal finance mix bag.

1. How long have you been blogging?

Almost 4 months at the time of this writing.

2. What has been your biggest money mistake?

Jumping into cryptocurrency without knowing enough about it.

3. What is your best advice for recovering from or preventing this money mistake?

It is important to do your due diligence before making any investment. Improve your knowledge on the investment as much as you can. Some purist would even say, only invest in what you understand.

To better reinforce how important this is, and to show you that this is not even a new concept. Here is an excerpt from a book I recently reviewed. The richest man in Babylon.

“After Arkad (beginner investor) has saved 10% of his income for a full year, he decided to give his money to a bricklayer who pitched an investment idea to him about buying some jewelry from a far away land. When Algamish (investment mentor)came back to visit him and asked if he listened to his advice, he proudly told him he saved the 10% and when asked what he did with it, Arkad said he gave it to a bricklayer to help him invest in jewelry.

Algamish broke it to him that he has essentially lost his money by investing in something that sounds too good to be true. Also the person you want to invest with or what you want to invest in, you need to do your due diligence and be sure they are knowledgeable and have experience.

Algamish offered more advice.

Advice is freely given away. But watch and only take which is worth having. He who takes money advice from who is inexperienced in that matter will pay for it with his savings.

AKA do your due diligence. If it sounds too good to be true, you need to research it even more. And if you are unsure about it, don’t do it.”

4. Favorite quote or money advice and who was the author?

This is difficult as it depends on my mood or situation. This one is valuable though.

Too many people spend money they earned..to buy things they don’t want..to impress people that they don’t like. –Will Rogers

5. Favorite money or budgeting related book and author?

My favorite is “the richest man in Babylon”, written by George S. Clason. That the reason why I reviewed it extensively. I love the fact that every single financial advice you can find on any blog or book is right in this book.

Step By Step Proven Method To Become Filthy Rich Now

Everyone basically rebrand the same technique and strategy that was already known to the early men (Neanderthals). For example, I am sure even the early men knew to save food for winter (save for retirement) and to ration their food to last them (budgeting).

6. Favorite money-saving website?

I can unequivocally say the site that has jumpstarted my personal finance is the white coat investor. https://www.whitecoatinvestor.com/

7. Favorite money-making app or website?

Hmm. I would say survey sites. Especially for physician.

M3 global https://www.m3globalresearch.com/

Sermo http://www.sermo.com/

I have made 300 dollars an hour on some phone surveys. The regular ones also pays well. I have made 4,000 dollars each from these in the past.

8. Do you have an emergency fund or savings account?

We do have an emergency fund equivalent to about 3 months of our living expenses. This is just $15,000. We prioritize investing more. Also with decent income and we don’t own a house, we require less emergency fund. Once we reach a comfortable state with our investment, we will up it to 6 months.

I discussed the importance of emergency fund as part of your financial planning pyramid. Part of the base, foundation that must be strong to improve your financial outlook. https://drbreatheeasyfinance.com/financial-pyramid-personal-finance/

9. What is your most successful strategy for saving money?

We use the reverse budgeting technique. We basically invest, use to pay loan or save every money that lands into our joint account except $5,000. Our monthly budget is $5,000, so we invest and save first then we spend the rest.

Twitter : https://twitter.com/drbreatheeasy

Facebook : https://www.facebook.com/groups/1420165648117871/

Pinterest : https://www.pinterest.com/DrBreatheEasyFinance/

Google+ : https://plus.google.com/u/0/+DrBreatheEasyFinance?tab=wX

Website URL : https://drbreatheeasyfinance.com

I want to thank Dr Breathe Easy Finance for taking the time to be interviewed. Thank you for sharing your insight and financial advice with all of us today. Thank you everyone who took the time to read this post, please stop by his website when you have a chance and let him know Saving Joyfully sent you. See you next time here on friends and finances for another blogger Interview, and an introduction to another great blogger.