Make the smart money moves early: self-taught finfluencer Joyee Yang

Who are your money, finance and investing heroes?

My number-one investing hero has to be Brandon Beavis. His YouTube videos taught me everything I know about investing. My money hero is Adrian Bar, Canadian in a T-Shirt on YouTube. He taught me how to optimize taxes and keep more money in my pocket. Third, my finance hero is Maxwell Nicholson, the CEO of Blossom. He built an app that shows you what your favourite influencers and friends are investing in, and transparency is truly what Gen Z needs nowadays. 

How do you like to spend your free time? 

Free time is such a luxury for me. While working two to three jobs from the ages of 19 to 25, I never had free time. I’ve been self-employed for six months now, and I’ve been travelling a lot recently. I also love going on solo dates, taking myself out for breakfasts, dinners, spa treatments and window shopping. 

If money were no object, what would you be doing right now?

I would definitely be travelling and doing all the excursions, like swimming with dolphins, scuba diving, ziplining, paragliding and so on. 

What was your first memory about money?

Buying snacks at the grocery store. I learned that money allows me to purchase items that I want.

What’s the first thing you remember buying with your own money?

The first thing I bought with my first paycheque was a silver ring at Swarovski. I wanted to buy something that would remind me of my independence and something that would never go out of style. 

What was your first job? 

I got my first job at age 16, as a sales associate at Old Navy. 

What was the biggest money lesson you learned as an adult? 

The biggest money lesson I learned was the importance of putting every single dollar of mine to work. I wish I’d researched all the available investment vehicles, like high-interest savings accounts, the stock market and GICs, when I was 19. I missed out on potential gains because I was unaware that such investment vehicles exist. It was important for me to go through that, because now I love exploring more ways to put my money to work, and now I have a platform to share my findings.

What’s the best money advice you’ve ever received?

Buy assets, not liabilities.

What’s the worst money advice you’ve ever received?

Don’t invest; it’s too risky.

Would you rather receive a large sum of money all at once or a smaller amount of money regularly for life? 

I would rather receive a large sum of money all at once so I can invest it. 

What do you think is the most underrated financial strategy?

Automating your finances. Everyone should take 10 to 20 minutes to automate their finances. It ensures that you hit your financial goals and that you’re always paying yourself first. 

What is the biggest misconception people have about growing money?

You need money to grow money. The truth is: time grows money. Compounding interest will grow your money even more than money can grow money. 

Can you share a money regret?

Leaving $30,000 in my chequing account for over three years. It goes against everything I know and believe now. When you leave money in a chequing account, it devalues every year due to inflation. Knowing what I know now, the least I could’ve done was put $30,000 in a high-interest savings account, then slowly start investing in the S&P 500.

What does the word “value” mean to you? 

The meaning of the word “value” has shifted for me. When I was penny-pinching, value would be “What is the biggest bang for my buck?” Now, it’s about convenience and what would save me time. 

What’s the first major purchase you made as an adult? 

My first big-girl purchase was a car. That was a quick decision. My biggest purchase that I took my time on was my condo. 

What’s your take on debt?

There’s good and bad debt. Bad debt can hold you back from your financial goals for years. This includes debts like credit cards, high-interest personal lines of credit and payday loans. The longer you take to pay these off, the more interest you’ll be paying. That’s money down the drain! Stay disciplined and pay off all bad debt, and then you’ll start to see your finances grow. Good debt is typically considered an investment that has the potential to increase in value over time—like a mortgage for a house, student loans and business loans.

What was your most recent splurge?

My most recent splurge was spending $300 at a spa. 

What is the last money-related book you read? 

Think and Grow Rich by Napoleon Hill (Penguin Random House, 2012). Mindset is everything. 

What is something you always have in your wallet?

I don’t have a wallet. Everything is digital for me.

What is your favourite possession? 

My car.

My MoneySense quick questions

Rent or own?

Own.

Buy or lease?

Buy.

Save or invest?

Invest. 

Budget or not? 

Budget at first, then just follow intuitive spending after.

What’s your next money goal?

Sell my condo and try other investments. I’m not sure which ones yet. 

Read more My MoneySense profiles:

• Ms. Money and Math adds up the good advice
• Borrowell’s Eva Wong on saving and investing
• Extreme couponer Kathleen Cassidy delivers the goods
• Julie Barlow’s self-employment tips

About MoneySense Editors

MoneySense editors and journalists work closely with leading personal finance experts in Canada. Since 1999, our award-winning magazine has helped Canadians navigate money matters.

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