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I was recently interviewed by over at Thrift Culture Now. In the interview, I talk about my motivations behind blogging, saving, as well as my thoughts towards the future.
An excerpt from the interview:
“Kevin is a fairly recent university graduate who works in software development and spends his spare time learning and writing about all things personal finance. His blog, Invest It Wisely, is full of informative and interesting articles, that span many different personal finance topics from investing, saving, frugal living and smart spending, yet all focus on the bigger picture with the same message: those who look and plan ahead while taking careful consideration of the factors and events that are beyond the realm of their immediate day to day life, will prosper. Yes, the financial approach that Kevin imparts to his readers is the antithesis to the popular bury-your-head-in-the-sand tactic.”
Thanks for having me over, I appreciate it!
Read more: Invest It Wisely: Thinking & Planning Ahead for a Brighter Financial Future
Congratulations on the interview.
Thanks! 🙂
Congrats on the interview! There you said one of your goals is to put no more than a third of your net income into housing costs. That is a breath of fresh air! Hopefully more people will take that goal rather than just buying as much house as a lender will loan them.
Thanks! Indeed, the lender was telling us we could afford a home nearly 2x the price. Could you imagine having that kind of debt around your neck? The housing prices in Canada are already high as it is and therefore so is our debt!
Interest rates may rise soon, but the good thing is that so is our income as we advance our careers, so we should hopefully be able to keep that housing expense under the third. If the SHTF and we get laid off we have reserve, and one income can cover everything as well. Try doing that if you need 50% or more net income for just the house!
Exactly. The lender does not have your best interests in mind. I always think about if a house is affordable on one income because you don’t know when one might lose a job. Just because a lender says you can afford it don’t mean it’s true! I hope you don’t end up like the US with so many homes “under water” and foreclosures being an anchor on home prices. It’s great for those wanting to buy a home in the US with low rates and low prices, but it’s bad for those wanting/needing to sell their homes.
You are very wise to save for an uncertain future!