Money Pro Tips: A Q&A with Licensed Adviser Brittany Robb
Each week, we ask a personal finance or business expert for their money pro tips. This week we talked to Brittany Robb, a licensed adviser. Here's a look at how she manages her finances and her best advice.
Money Thing You’re Most Proud Of
Q: What money-related achievement are you most proud of?
A: I graduated college debt-free by working throughout each semester to pay for the next.
Current Money Goal
Q: What’s your current money goal?
A: I want to buy a house but realistically I’m saving for a condo.
Q: How are you working toward it?
A: A large portion of my paycheck goes to a high-interest account I am only able to withdraw from twice a year. Seeing the money add up is really motivating.
Last Thing You Splurged On
Q: What was the last thing you splurged on?
A: Shoes. It’s always shoes and dresses.
Q: Why’d you OK the splurge?
A: I think saving is a lot like dieting in that if you’re too strict, you’ll end up making bad decisions. Plus, they are classic and I’ll get a lot of use out of them.
Best Financial Advice You Ever Got
Q: What’s the best financial advice you’ve ever received?
A: Only charge it if you can afford to pay it off immediately.
Worst Financial Advice You Ever Got
Q: What’s the worst financial advice you’ve ever received?
A: I find the “snowball method” — the debt reduction strategy in which you pay off bills in order of smallest to largest — infuriating since you aren’t focused on bringing down your debt with the highest interest.
No. 1 Money Tip You Give to People
Q: What’s your number one money tip?
A: Pay down your debt starting with the one with the highest interest. And if you are holding a balance, always consider the interest you will be paying as a part of the cost of an item.
How Do You Budget?
Q: How do you budget?
A: I have a few accounts that split up my direct deposit so that it doesn’t feel optional, and I pay my credit card each month so I know exactly what I’m spending.
Last Thing You Resisted Buying
Q: What was the last thing you resisted buying?
A: A flight to Paris.
Q: How did you resist it?
A: I waited too long, and the price increased. Once I know the lowest I can pay, I’m pretty non-negotiable on paying more.
What Would You Do with a $1 Million Windfall?
Q: What would you do if you received a $1 million windfall?
A: I would invest in real estate.
Want more money pro tips? Check out our finance blogs.
Description: A person reading financial tips from Brittany Robb, a licensed adviser, reflecting on their own money management strategies.
