What’s the worst money advice you’ve ever received?
“What’s the point in saving, you could die tomorrow.”
Although this is the worst advice I’ve received, it still taught me that I can let go and not keep thinking about the future but live in the present as well.
Would you rather receive a large sum of money all at once or a smaller amount of money regularly?
I’d rather receive a smaller amount of money every week or month for life.
What do you think is the most underrated financial tip?
Financial literacy is your friend. We live in a day and age where the internet has all the answers. Use that to your advantage. How to spend and save is going to differ from person to person, so it’s best to learn what strategies work for you.
What is the biggest misconception people have about growing money?
Believing in overnight wealth or success. There’s this misconception that as soon as you start investing, or as soon as you get a job with a big paycheque, or even if you win the lottery, all your money problems will go away. No, not at all. It takes time and effort. You need to keep working to sustain that lifestyle.
Can you share a money regret?
Not investing sooner.
What does the word “value” mean to you?
Value to me is usage, plus time, plus experience. For example, someone might rather save money by opting for cheaper winter boots. I would rather buy a sturdy quality pair. The lower-quality boots would have lower usage since they would break faster, use up my time more because then I’d have to buy new ones, and limit me from experiencing winter by being cautious of breaking the cheap boots. The higher-quality winter boots would have more usage and save me time, and I can maximize my experience with it with no hesitations.
What’s the first major purchase you made as an adult?
I’ve been saving for most of my life and have refrained from making any luxurious purchases, and that put me in a position where I was able to buy my first house.
Lisa Hannam
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