Today is the 26th edition of our periodic guest post series called 10 Questions. We have a list of 17 questions we pose to fellow financial bloggers, and they are free to pick and choose 10 or answer all of them. Let us know if you would like to be featured in a future edition of 10 Questions.
Today’s questions are answered by Jim Wang from Wallet Hacks. I like writing that makes you think and one of Jim’s post did just that. “Why do you work?” struck a chord with me. I read the post and then thought about my job for a while.
I came to a sad conclusion; I’m working for money and not much more. I was hired to write code, but my job changed and I don’t get to do much of that anymore. My passion is gone, but the paychecks keep showing up, so I keep showing up.
Hey wait, this post is supposed to be about Jim and Wallet Hacks, not a personal psychotherapy session. Hit it Jim!
Tell me about your blog and why it’s great.
Wallet Hacks is all about finding and using unconventional but devastatingly effective strategies and tactics to get ahead financially and in life.
Before becoming an entrepreneur nearly ten years ago, I was a software developer and always chaffed at the term “hacking” because mainstream media applied it to everything. To me, hacking means using creativity and out-of-the-box thinking and applying it to solve everyday problems.
I’ve been writing about personal finance for over ten years. My goal with Wallet Hacks is to collect all those creative solutions into a framework to help readers have a healthier relationship with their finances and achieve their goals. I invite you all to join me. 🙂
Tell me how you’re going to change the world with your blog (dream big or don’t dream at all!).
The world is already changing every single day and my goal is to provide readers with strategies and tactics that will help them adapt and get ahead in that changing world. Think back to what was considered wisdom just a few years ago and how it doesn’t apply to us today.
Many of our parents worked at a single employer their entire career. The employer took care of them, our parents remained loyal, and the world continued turning.
When I started working, I knew I wasn’t going to be working at the same company for the rest of my life. I knew that 3-4% raises, with a few bigger ones following promotions, were not going to satisfy my ambitions. This would be true for a lot of people.
If you want to be paid market rates, you’ll need to ask the market by going out and finding competing offers. I would eventually leave my 1st job with a hefty raise. At least half of my friends would either leave or renegotiate their pay based on competing offers.
My goal with Wallet Hacks is to bring that insight into the spotlight so my readers will know what works today and tomorrow, not yesterday.
What post are you most proud of and why?
My blog is relatively new so it doesn’t have many to choose from but my favorite one is less about money and more about mentality – it’s called Why Do You Work?
I talk about my search for purpose in the work that I do. What was it about my work that energized me, that gave me the stubbornness to push through tough times and emerge victorious on the other end.
I hope it’s thought provoking, it certainly elicited a fair number of comments, and I hope you’ll all take a look and share your thoughts.
1500 Days is about early retirement. Do you have early retirement dreams? At what age do you think you will retire?
I was fortunate in that the first business I started, another personal finance blog, performed so well that I was able to pursue it full time and, subsequently, retire.
Technically I’m retired, but I find myself working more on my own projects than doing stereotypical retirement things like golf (kids impact the golfing!).
When you are 90 and look back on your life, what do you hope you have accomplished?
I hope that my kids are happy, healthy, married and with kids (if that’s what they want), and that I can spoil my grandkids like my parents are spoiling my kids. I hope my kids accomplish great things so I can brag about how it’s all my good parenting skills. And I hope to have fantastic memories free of major regret.
What is the best money management or investment tool you have come across?
I actually keep my finances pretty simple and I don’t use any money management or investment tools. The only app I use is one called SigFig, it pulls in my investment data from TradeKing and Vanguard. There are plenty of apps that can do that, I just discovered SigFig first.
How do you handle people with different views on money, ie spendy people?
To each their own, just as they likely don’t judge my decisions in life through their lens, I try to avoid judging their decisions through the lens of mine. If they want my help or advice, then I’m more likely to talk about how their view might be impacting the pursuit of their goals, but usually there’s a reason behind everything. Understanding that reason goes a long way towards understanding the behavior.
Did you grow up with money? How did your money situation growing up influence you?
We weren’t poor but we weren’t rich and my parents were extremely resourceful and hard working. I think my resourcefulness comes from watching them, learning from them, and being able to take those observations and put them in practice. When you don’t have a lot, you need to be creative and nothing works the creativity muscle more than necessity.
What is your favorite style of beer – and what is your favorite beer in that style?
My favorite style depends on the weather and the mood but I prefer a Belgian Wit or a Porter/Stout. If the weather is nice and I’m outdoors, I’m thinking a wheat beer is the perfect speed. If it’s cold outside, give me a nice rich porter or a thick creamy stout.
We notice a lot of frugal people are into board games – what is your favorite?
I think smart people are into board games. 🙂 I’ll play anything, from complicated war games with pieces filled with numbers to Uno. My favorite is probably Settlers of Catan, those German style games. I very much dislike puzzles though. 🙂
Thanks Jim for your submission today! Please show Jim some love on Twitter, facebook and Pintirest.
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Jim Wang says
Thanks for including me in this great series!
Jim Wang recently posted…The Secret Santa Hack – Save thousands this year with this one gift giving hack
1500 says
And thank you for participating!
The Roamer says
Hi Jim
It’s great to see you at 1500 days.
It’s great you take a no judgement perspective. It’s something I need to work on. I know one thing doesn’t work for everyone but it can get frustrating when you talk about numbers… I mean numbers are cut and dry right?
The Roamer recently posted…Guest post on the Plutus Finalist blog, Even Steven Money
Jim Wang says
Numbers are but people aren’t.
Jim Wang recently posted…The Secret Santa Hack – Save thousands this year with this one gift giving hack
Freedom 40 Guy says
Thanks for sharing Jim. Recently read your post on “why do you work” and especially liked the point about watching the to 20 Ted talks. I’ve seen a bunch of them but not all, and I agree that it is definitely a good use of ones time!
Freedom 40 Guy recently posted…Black Friday Sucks
Jim Wang says
Thanks!
Jim Wang recently posted…The Secret Santa Hack – Save thousands this year with this one gift giving hack
TheMoneyMine says
Hi Jim –
It’s nice to see you here, I also really liked your post on “why do you work”. That was a cool introspection and it helped me realize I work purely to get more independence.
I guess it was like an ‘online psychology’ session, that was powerful stuff!
Nick
TheMoneyMine recently posted…Happy Thanksgiving and a big Thank You!
Jim Wang says
Thank you — it helped me understand more about myself too, so it was like a group online psychology session. 🙂
Jim Wang recently posted…How Much Do You Really Thneed?
Chad Carson says
Hey Jim,
Great to read more about your background. Thanks for sharing.
The “Start With Why” TED talk had a big impact on me. It has been a great lens to view my life and my business. I have started to pay attention to the blogs, businesses, and people with the “why” in mind. The cheesy and sleazy ones tend to focus only on the what, and the authentic and inspiring ones have a why that clearly shines through.
I look forward to following Wallet Hacks more.
Chad
Chad Carson recently posted…The Annual Review: The #1 Habit of Exceptional People
Jim Wang says
I think a better way to root out the cheesy/sleazy vs. the authentic/inspiring (though what vs. why is a good way) is relationship driven. The sleazy are transactional, the authentic/inspiration are relational. If someone is trying to build a long term relationship with you, it’s unlikely they’re scamming you. There’s always the idea of the long con but those are rare.
Thanks!
Jim Wang recently posted…How Much Do You Really Thneed?
Chad Carson says
Yeah, I like that approach. Long term relationships are key. Thanks.
Chad Carson recently posted…The Annual Review: The #1 Habit of Exceptional People