10 Questions with My Shiny Nickels

Wow, today is the 40th edition of our periodic guest post series called 10 Questions and a Pizza Place. (The 1500′s are pizza fanatics.) 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 17. Let us know if you would like to be featured in a future edition of 10 Questions.

Today we feature Laura from mySHINYnickels. I love hearing about people who realize that they’re not living right and then make a big change. This is exactly what Laura did, going from big time debt to bigger time savings in about 2 years. Very cool.

Finally, I am asked all of the time why I want to retire early. Laura provides a very good reason in this post.

Tell me about your blog and why it’s great.
I’m one of those “used-to-be-40k-in-debt-now-on-my-way-to-early-retirement” folks.  I was once like so many others, drowning in a downward financial spiral.  And while I offer my perspective, I don’t pretend to know it all, because I really don’t!  My blog (mySHINYnickels) is about personal finance, with a dash of humor and real-life blunders mixed in.  I think people can relate to that.

What is the worst financial mistake you made?
How many characters do I have?  Ok, ok, just teasing. While I do have a couple to choose from, I’ll say that taking on a $400k mortgage in my 20’s ranks up there pretty high.

What is the best financial move you have made?
Now THIS one is easy.  Downsizing from our McMansion in the suburbs and the corresponding $400k mortgage was by far the best financial move we’ve ever made.  The mortgage, property taxes, insurance and utilities all dropped instantly…and SUBSTANTIALLY.  Just that move alone saved us $2,550 per month, which is over $30,000 annually.  I still can’t believe we sat on that cash flow for so long.

What is your favorite place to vacation?
We’ve been all over the world, but there is something hypnotic and calming about the North Shore of the island of Kauai.  Chowing down on a fresh, locally made pizza with some cold drinks, while sitting on the sand at Hanalei Bay at sunset is heaven on earth, I tell you.

Mr. 1500 note: Kauai is one of the best places on Earth. When I think “paradise,” Kauai is the first place that comes to mind.

What is your favorite pizza place (I am a pizza nut)?
Well, from my earlier response alone, you may have figured out that pizza is my favorite food.  Even my Twitter bio demonstrates my love for it.  But let me get around to answering the question.  At the risk of sounding a little ‘worldly’ and ‘foo-foo’, the best pizza I’ve ever had was at a little family-owned place in Venice.  My favorite domestic place is Giordano’s in Chicago, and my neighborhood favorite is Round Table Pizza. My mouth is watering now, thanks Mr. 1500.

Mr. 1500 note: Agreed, Giordanos is awesome!

What are your biggest goals in life?
LIVE SMART. SAVE MONEY. RETIRE EARLY.  Those are our long-term goals.  And, once we’ve reached our savings target, we’re going to retire.  If the markets generally behave, that puts us about 7.5 years out.

My short-term goal is to continue developing my blog…if my mistakes and successes help someone else turn their financial life around and pursue happiness, then it’s worth every minute I’ve spent.

What are your favorite personal finance websites?
GetRichSlowly.org, MrMoneyMustache.com, 1500Days.com, BraveNewLife.com,RetireBy40.org…there’s a lot more where those came from…but I had to stop somewhere.

Prosper or Lending Club? Please explain.
Not sure yet!  We haven’t branched out into this type of investing yet, but are planning to, even if it’s just to help diversify our portfolio a bit.  As usual, we’ll do our research and see if it makes sense for us.

What is the worst personal finance mistake you see people making?
Oy vey.  Becoming house-poor or car-poor, or both.

What was your favorite job (or worst job)?
The worst job I ever had was as a lifeguard for the local city pool.  I had been on the swim team for years. So during the summer between my junior and senior years, in 1995, I figured it was a natural progression to become a lifeguard.  WRONG.  I panicked on a daily basis, worried my life-saving skills wouldn’t come to me in a crisis.  So every time I was in the guard chair, I was nervous and fidgety, counting down the minutes until I was back in the guard house.  Every day I said a little prayer that no one would require medical attention…for their sake, AND for mine.  That summer was mentally exhausting.

What advice would you give to a high-school senior, who is making college plans?
The advice I wish I could give to someone would be to a high-school senior planning for college.  I would grab them by the ears and calmly say, “College is an investment.  1. Choose a major/degree that will GET YOU A JOB after graduation.  2.  Take as many classes at a cheaper community college as you can, then transfer to a 4-year school.  3.  If you can, go to school locally and live at home.  4. Get your degree for as little cash out of pocket as possible.  If you must get a small student loan to finish your degree, then fine. But then live as cheaply as possible after graduation until it’s paid off.  5.  College is an INVESTMENT in your future, make sure you’re getting a return on that money.  Spending $80k on a degree in Shakespearean Literature is not an investment; it’s an indulgence at best, or a complete lack of focus/planning, at worst. Being saddled down by thousands of dollars in debt, especially with a degree that does not provide IMMEDIATE, SOLID EMPLOYMENT, is no way to start your adult life.”

Thank you Laura for your 10 Questions! Be sure to pay a visit at mySHINYnickels and give her a follow on Twitter. Finally, Laura has written a book. Any suggestions on how I can get a certain family member to read it?