When I was on The Nate Berkus show for their Downsizing Debt episode I had the chance to meet financial expert Farnoosh Torabi. She was warm and kind and she said she was willing to do an interview with me for my blog. How cool is that!? So, I had to take her up on it.
Today, she’s sharing some of her top financial tips with us and I’m so happy to have her as a guest!
And Then We Saved: How did you become a personal finance expert?
Farnoosh Torabi: I combined my passion for journalism with my background in finance and first began covering financial topics as a writer, reporter and producer for many years. Then in 2008 I authored my first book and started helping real people with their finances. Writing my first book was a real game changer in my career. (Farnoosh wrote You’re So Money in 2008 and Psych Yourself Rich in 2010)
And Then We Saved: What is the biggest mistake that people (especially women) make regarding money?
Farnoosh Torabi: We fail to save, plain and simple. Americans are saving a little more now because of the economy, but it’s not enough and it’s not something we typically prioritize.
And Then We Saved: What is a popular personal finance tip that you don’t follow?
Farnoosh Torabi: I don’t skip my latte. I gotta have my latte.
And Then We Saved: What are 3 things that people can do right now to dramatically improve their financial situation?
- Save automatically a percentage of your paycheck and place it into a savings account.
- Set aside plastic and start using cash. You’ll save an average 20% of your income in a year.
- Ask for a raise. You may not get it right away, but it never hurts to ask. Know your worth!
And Then We Saved: What is the next step for you in your career?
Farnoosh Torabi: I’d like to expand my blog, start a podcast and offer a weekly podcast….and — as a bride-to-be — start helping fellow brides and grooms plan and save for their weddings. The process of planning my own wedding has me realizing how easily weddings can totally break your bank…and there is an under-served market of couples who desperately need advice.
Thank you Farnoosh!
P.S. Ready to get out of debt ASAP? Check out the Spending Fast Bootcamp!