Welcome back to the Share Your Story series. Last time Umair from Ranking Pursuits shared his story on how he picked a career that he has come to love. This week we have Stacy from Kiss Your Money sharing her story on her journey, a rollercoaster of up’s and down’s. Here she is…
Kiss Your Money
Stacy B Miller is a writer, blogger and a content marketing enthusiast. Her blog vents out her opinions on debt, money and financial issues. Her articles have been published in various top-notch websites and she plans to write many more for her readers.
Stacy’s journey – A roller-coaster ride, full of ups and downs
Dear readers – I’m a very ambitious girl who has always wanted to have a flourishing career since childhood. Sometimes, too much greed and too much haste are not good for your health. Plus, if you have an ego, then it’s worse. I wanted to make money fast but without seeking help from anyone.
When I was in college, I tried to set up a small business on catering. Without enough capital and manpower, the business collapsed within a few months. My ego didn’t let me share my problem with my parents, and lack of a proper job prevented me from getting out of debt quickly. I had a few personal loans but didn’t have money to pay off them.
That was the time when I learned why people say too much haste is too little speed.
Anyway, that was 10 years back.
Today, I’m working as a content editor at Oak View Law Group. From an unsuccessful entrepreneur to a successful content editor – it has been a very long journey.
My turning point…
After my business debacle, I started doing freelancing to earn extra dollars and continue my studies simultaneously. It was then when I realised that I have a flair for writing. I liked to create and curate content.
After finishing my studies, I started working as a content writer for a start-up company. I worked there for 2 years. It gave me a scope to develop my skill as a writer and also gain working experience. Thereafter, I got a job at Oak View Law Group as a junior content writer and there was no looking back after that.
Gradually, I got interested in personal finance and things started changing.
You can say that I was forced to focus on personal finance after my first business debacle. I was financially and emotionally shattered. My first business venture was a disaster. My first dream was a big flop. Plus, I had to pay off my debts. I couldn’t ask my friends to lend me more money. I had to do something to clear my debts as quickly as possible.
I started following personal finance blogs to know about the various debt repayment strategies and the ways to save money. Gradually I became interested in this sector and started participating in the personal finance forums. Trust me, I owe a lot to those forums because they helped me to be where I’m today.
Today, I have also created a blog called kissyourmoney.com where I voice my opinion on various financial matters based on my experience.
Any advice for my 18-year-old self? Aww!!! Too many
Please be patient and calm. Life is beautiful at the age of 18. But life is not only about good things. There are many other things as well.
It’s a good thing to be ambitious. But you shouldn’t be too ambitious. You should analyse the risks and rewards of a business venture. Finish your education, save money, make a solid business plan, and get help from experts. I don’t regret my decision of not getting help from my parents. Why should they suffer due to my mistakes? They had nothing to do with my plans. But I could have discussed my problem once. They could have given me some good advice. Perhaps, that could have helped me get out of debt quickly.
Where do I see my journey being 10 years from now?
Where do I see myself after 10 years? Jeez! I don’t even know where I will be after 5 years.
Honestly speaking, I haven’t thought about it. But I would love to see myself living comfortably in a big house and running a flourishing website with lots of talented people. I want to see myself doing something substantial for the women who want to build a successful career.
Do I have any tips for the Pickle and Poppet readers? Of course!!!
Okay. I got this tip from dad. Today, I’m going to share that with you all.
Plan your financial life right after getting your first job. Don’t wait until you get your dream job. Who knows, you might get your dream job at 50. Will you start planning your financial life when the best part of your life is already over? My dad earned very little. But he planned his financial life meticulously. He spent less, saved more, and invested wisely. That’s why he is now living comfortably after retirement.
Contribute a significant amount to your retirement savings accounts. Try to contribute as much as you can since that would help you lead a comfortable life after retirement. Next, be careful when it comes to investments. If you have $5000, make secured investments with that money. You have another option. You can make secured investments of $4000. You can invest rest of the amount in the stock or commodity market. Even if you buy bad stocks, you’ll lose $1000. You’ll reap profits from $4000.
Don’t invest in stocks with your retirement savings. Never.
What should you avoid doing when you are trying to build your net worth?
There are lots of things you should avoid. First, you should avoid debts because they eat up your savings. Try to avoid spending on luxury items. Spend only on the necessary items. Keep your money in a savings account so that you can use it for covering unforeseen expenses. Avoid luxury cars due to their high maintenance cost. Avoid too many risky investments since they can ruin your hard work completely.
Avoid making financial decisions independently especially when you’re not good at handling financial matters.
What is the best way to increase your credit score so that lenders are ready to give you amazing offers?
Unfortunately, the best answer to this question is always going to be time. However, there are several ways to increase your credit score. For instance, keep your credit utilisation ratio low. Pay your creditors on time. Remove negative listings from your credit report. Remove wrong information from your credit report. Avoid hard inquiries as much as possible and don’t cancel your credit cards.
Finally!!! I believe in frugality and you should too.
I believe in frugality. I can control my expenses. I can live modestly and save money. But it isn’t always possible to increase my income. It is not in my hand. I may not get a part-time job. I may not get time to do extra assignments. But I can cut down unnecessary expenses and use that money for reaching my financial goals.
Thank you for sharing your story and your tips on saving money.
If you would like to follow Stacy some more for some more tips then head over to her socials;