This week for our Gettin' Nosy interview, I'm chatting with Melyssa from The Nectar Collective!
BTW-- want to catch up on old posts in this series?
- Jamie from The Jar Half Full
- Addison from Chocolate & Chaturangas
- Karen from The Mile Report
- Melissa from Mel's Miles
- Courtney from Redefining Athlete
- Cheri from Overactive Blogger
- Chelsea from the New Wifestyle
- Hollie from Fueled by LOLZ
- Paige from Healthy Hits the Spot
- Sarah from Sweet Miles
- Katie from Katie Did What
Guys. I am so excited for today's Gettin' Nosy interview! Today I'm chatting with Melyssa from The Nectar Collective! She is totally my entrepreneur woman crush because she's KILLIN IT in her business! Melyssa offers blog/website design and also does blog consultations, all while still publishing amazingly helpful blog posts for bloggers/business owners :) (everything from how to drink more water to creating a hand-lettered blog header!)
So I was definitely excited to be able to peek inside Melyssa's head to see how a super successful business owner spends her money, and the tips and tricks she uses to get the most enjoyment from her spending!
1. I LOVE learning tips & tricks that can help me to save more money. What is the best financial tip you’ve ever heard?
My dad told me that he was once having dinner with a really wealthy friend and asked that friend what his secret to becoming so wealthy is. He said, "stay out of debt." It's really simple, but I can definitely understand why it's so important.
Also, I use an app called "Mint," which tracks all of your purchases and income. It's not a tip, per se, but I recommend it for anyone who wants to see all of their finances in one place. It even lets you know what you spend your money on (divided into categories), which might be helpful for someone whose money always seems to disappear from unnecessary expenses.
2. What is your proudest financial moment?
Hmmm maybe when I first made $10,000 in one month! I had been having many months with a much smaller income, and then all-of-a-sudden I made over $10k during one month last year and it was pretty exciting for me. Finances aren't everything, of course, but they can be a good indicator of how much a business is growing or succeeding, so it felt good to reach that level of income and know that something was working.
3. Prioritizing your spending so that you spend money on things that truly make you happy is something that I think is SO important. What are some things that make you ridiculously happy and you feel zero guilt spending money on?
Two things! The first would be groceries. I remember in college, when I had very little income, I would pinch pennies on food and eat a lot of cheap junk. Now, I realize how stinkin' important it is to nourish your body with food that keeps it running at its peak, even if it costs a little more. I rarely let a price tag deter me from buying something at the grocery store, because I know it's essential to my well-being. I also find a lot of joy in cooking my own food these days and like having several fun ingredients at my disposal.
I also rarely feel guilty when I spend money on my business. I feel like I love my business almost in the same way I love my dog (hah!) -- I want to take care of it and give it the best I can. I also know that investing in my business is a large part of the reason why it succeeds. So anytime I spend money on my business or blog, I know in the back of my mind that it will bring more profits later down the line.
4. On the flip side, what things do you try NOT to spend money on?
Frivolous things! I used to spend a lot of money on random junk -- cheap souvenirs that got thrown away within a month, clothes from Forever 21 that I bought just so a trip to the mall didn't feel like a waste, etc. Now, I really evaluate what I'm buying and decide if it's something that will last, not just because it's well made, but because I really love it. I try to see all of my purchases as investments. Well, aside from that $5 iced latte I just ordered... ;)
5. I’m big on setting financial goals. I think it’s hard to progress in our financial life if we aren’t really sure what we’re working towards. What are your current financial goals?
I'd really like to make six-figures this year. Last year was my first full year in business and I did pretty well financially. But this year, my business has grown a lot very quickly and reaching six-figures actually seems feasible, which is definitely not something I would have expected when I started it.
I'd also like to start saving for retirement and create more of a substantial savings in general. I set a goal at the beginning of the year to start saving 10% of my income. I was actually doing pretty well until I moved to Los Angeles recently and got bit in the booty by a bunch of moving costs. But hopefully I can get back into that! I think savings are really important -- I always think about what I'd do if something happened to my dog and I needed to pay thousands to a vet. I think that is actually one of my biggest motivations to save. (Thank goodness Crazy Dog Ladies aren't a thing, because I'd totally be one!). ;)
Thank you SO much for the interview, Melyssa! :)
What's your favorite grocery store purchase?
At the moment I think my favorite grocery store purchase would be herbs/spices. I'm slowly building up my collection and it makes me feel so legit. Those little containers are kinda (very) pricey but I know they'll last awhile and make my food taste delicious!