Know Your Blogger Series
Check out our Q&A with A Chat with Kat here.
During these weekly features, we are hoping to provide a way for you to interact and learn more about different blogs in the personal finance space.
Below, you can read more about the story behind A Chat with Kat, learn about the author, and learn personal finance tips from A Chat with Kat to help you improve your financial situation.
A big thanks for A Chat with Kat for this interview! Now, we will turn it over to the author for this interview.
Tell us about A Chat with Kat
What makes you and your blog unique?
What does “being good with your personal finances” mean to you?
What are some habits you practice to keep your personal finances in order?
At the end of every month, I hold a personal finance meeting with myself and complete the following tasks:
- Pay my bills: rent, council tax, gas and electricity.
- Send out client invoices.
- Calculate total money earned in the past month.
- Calculate how much tax I need to set aside for the month.
- Calculate how much I can invest and my savings rate.
- Make a record of my donations.
- Check my net worth and log it in the spreadsheet.
What are your three articles people should read to get to know you and your message better on your site?
- My financial journey: The Long Road To Financial Independence: Kat’s Journey
- Helping you to understand your muscles and how to take care of them: The Body Project
- The importance of effective giving: On Signing The Pledge To End World Hunger
For someone looking to improve their financial situation, what’s your best advice?
In the short term: If you are just starting out, you need to spend a few hours figuring out your income and expenses. Add up everything you earn and everything you spend. Which number is bigger? If you already earn more than you spend, congratulations. You’re doing great and can skip to the ‘medium term’ step. If not, this needs to change. Where could you cut expenses so that you have money left over at the end of the month? Some examples might be:
- Big ticket items: could you live in a smaller place or drive a less expensive car?
- Check that your bills are optimised. Can you switch to cheaper providers?
- Food bill: change grocery shops, buy in bulk, find discounted items, eat out less, etc.
- Entertainment: find a free or cheap hobby, sell things you no longer use, reduce the frequency of shopping trips.
What’s an area of your life which has benefited from improving your personal finances? Have there been any areas of your life which have suffered?
What are your favorite personal blogs and bloggers you have been inspired by?
- Mr. Money Mustache is the blog that got me started. I was always good with finances, but his posts gave me a goal to work towards and some practical advice on how to cut expenses further.
- A great UK blog is Monevator. There’s lots of advice on there, and the weekly newsletter is full of interesting articles from various bloggers and news outlets.
- Another favourite is Banker on FIRE. I read his posts every week because they are insightful and entertaining. He writes not just for other high-income professionals, but for everyone who wants to learn to improve their finances.
In your opinion, what’s better? Focusing on increasing your income, or focusing on decreasing your expenses?
What’s a non-money related interest you have and what do you love about it?
Why do you believe learning about money and caring about personal finance is important?
How You Can Contact A Chat with Kat for More Information
Thank you for reading this interview, and thank you, A Chat with Kat, for providing us with some great personal finance tips!