Money Pro Tips: A Q&A with Licensed Adviser Kieran Duffy
Each week, we ask a personal finance or business expert for their money pro tips. This week, we talked to Kieran Duffy, a licensed adviser. Here's a look at how he manages his finances and his best advice for others.
Last Thing You Resisted Buying
Q: What was the last thing you resisted buying?
A: A night out.
Q: How did you resist it?
A: I took a look at my discretionary spending over the past few weeks (no bueno).
Last Thing You Splurged On
Q: What was the last thing you splurged on?
A: Designer sunglasses.
Q: Why’d you OK the splurge?
A: I built up enough credit card points to pay for the glasses.
No. 1 Money Tip
Q: What’s your number one money tip?
A: Have tangible goals set for yourself.
Biggest Money Worry
Q: What’s your biggest money worry?
A: Paying down my loans while still being able to have a social life.
Q: What are you doing about it?
A: I accelerate payments when I can and make sacrifices elsewhere.
Money Thing You’re Most Proud Of
Q: What money-related achievement are you most proud of?
A: Moving out and buying myself a car.
Best Financial Advice You Ever Got
Q: What’s the best financial advice you’ve ever received?
A: Keep track of your spending.
What Would You Do with a $1 Million Windfall?
Q: What would you do if you received a $1 million windfall?
A: Accelerate paying down my debt.
Debunk a Money Myth
Q: What’s a common money myth you’d like to debunk?
A: “Investing is too complicated.” Use robo-advisers like Betterment or a platform like Robinhood. Learning through trial and error will ease you into it.
How Do You Budget?
Q: How do you budget?
A: Making sure my needs for the month are always covered and having a few months’ expenses in emergency savings.
Best Money You Ever Spent
Q: What’s the best money you ever spent?
A: Any and all vacations (gotta treat yourself).
Worst Money You Ever Spent
Q: What’s the worst money you ever spent?
A: A bartending class in college for $800.
Most Common Money Advice Question People Ask You
Q: What’s the most common money advice question people ask you?
A: “Should I buy X?”
Q: What do you tell them?
A: Probably not.
Want more money pro tips? Check out our finance blogs.
Description: A person reading financial tips from Kieran Duffy, a licensed adviser, reflecting on their own money management strategies.
