Expert Interview With Peter Christopher About Financial Health
Peter Christopher of Personal Finance Care understands financial concerns because he’s experienced a few of his own.
In this interview, Christopher details how readers can break the debt cycle, make intelligent decisions regarding credit and loans, and stay ahead of the financial game.
How exactly did you get influenced and motivated into starting this blog? Tell us a little of your own personal history.
I started my own blog based on some real-life experiences about how I got rid of financial woes. I encountered financial problems more than once in my life, and most of the problems were due to the fact that I was spendthrift and really never cared much about saving.
These days, I meet a lot of people who want to save but don’t know how to do that, as they have no or very little knowledge in this regard. That prompted me to share my personal experience, and what could be a better way to do so than blogging?
If you could give only one piece of financial advice, what would it be?
There are so many tips to share that it’s really hard to make a particular pick.
However, when I am asked to mention a particular one, I will suggest preparing a budget of your income and expenditure so that you have a clear idea about where your income is heading to. That would help you curtail unnecessary expenses to make saving a priority.
What is your favorite form of investment?
The best form of investment varies from one person to another. It depends on one’s financial goals, resources at disposal and prospect of that particular investment option. For me, real estate is the best financial investment. Following recovery from recession, the real estate market is once again in bloom and will continue to flourish in the future. There is a solid chance of getting good return on real estate investment. Even if you invest in underdeveloped areas, it could glance off a heavy return.
The most appealing aspect of real estate investment is one can enjoy some good ROI even within a short length of time.
What do you think is the worst mistake most people make when it comes to money and cashflow?
Most of the people, especially the young ones, get crazy to have a credit card. And many of them end up amassing mammoth amounts of debt and can only manage to clear it after three or four years or even longer. Obviously such things happen due to indiscriminate use of credit cards and when the owner fails or does not understand to keep track of their spending. They should clear full balances on a monthly basis and go with the best cash-back options for revenue generation.
What was the most difficult thing to get accustomed to financially, or what was a very important lesson you learned “the hard way”?
For me, the most difficult thing to adjust was how to part ways with unnecessary expenses. I did not have a practice of maintaining a budget, and that was the main problem.
Without a budget, it is really difficult to identify unnecessary expenses. And even when I did that, I failed to control my spending immediately. I was an impulsive buyer and it took me some time to change my habit. I told myself that there would be a financial heaven for me if I dispensed with that extra spending, and it worked gradually.
What is something interesting you’ve learned about yourself since you started this blog?
Frankly I always thought of myself as a very serious person. However, I discovered the funny side of myself since I started writing my own blog. I always give some effective tips in a witty style so that it reads interesting and not boring harangue.
How often do you update your own blog? Is it something that requires discipline for you, or does it comes naturally? Do you feel an innate urge to write and share?
I update my blog regularly. However, it is not that I do it in a strictly disciplined way, but there are a lot of financial topics to write on and everything comes very naturally. In other words, I don’t have to struggle a lot to find topics for regular updates. And yes, the urge comes from within when it is about blogging and sharing tips. There is no invisible “push” from behind and I feel enthusiastic to share my thoughts and tips with my readers.
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