New Money Nate urges followers to invest in themselves

Who are your money/finance/investing heroes?

I don’t really have any heroes per se, but the collective community of personal finance bloggers in the 2010s, like Mr. Money Mustache, Ramit Sethi and The Financial Samurai were a huge source of inspiration for me in university.

How do you like to spend your free time?

Love listening to podcasts and playing as many sports as I can after work.

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

Likely the same thing I’m doing now.

What was your earliest memory about money?

When I was younger, I remember feeling the weight of how important money was in different circumstances that came up with my family. It taught me that I need to not only make but keep a good amount of money to maintain good financial health.

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

Probably fast food.

What was your first job?

I was a dishwasher. I probably just ate out with the money from my first paycheque.

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

Investing in yourself has infinitely higher returns than the market. I absolutely love things like index funds, and I preach them all day long, but I’ve learned that if you’re able to invest capital and time into yourself through upscaling so you can get a new job or start a business, you’ll be able to earn more and more that you can then reinvest and create a wealth-building money machine.

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

Bet on yourself.

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

Finance a car and stretch out the payments for as long as you’d like.

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

Large sum—all at once.

What do you think is the most underrated financial strategy?

Credit utilization being the second-biggest factor in one’s credit score. Many don’t understand that how much of your credit limit you’re using has a massive impact on your credit score. It’s ideal to keep it below 30%.

What is the biggest misconception people have about growing money?

That they aren’t capable of doing it.

Can you share a money regret?

Maxing out my first credit card—but I don’t really regret it as it taught me a lot.

What does the word “value” mean to you?

Value is anything that one derives a benefit from. Me, I absolutely love treats. I’m a total foodie for desserts.

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

My car. I did a ton of research and was able to get a great price.

What’s your take on debt?

It can be a wealth accelerator or a complete anchor. Really depends on how you leverage it.

What was your most recent splurge?

Travelling.

What is the last money-related book you read?

A book on the history of central bankers. It’s very interesting stuff to understand the economic climate right now.

What is your favourite possession?

I don’t really have one that stands out, but I do like my phone a lot.

What’s your next money goal?

Reach financial independence.

My MoneySense quick questions

Rent or own?

Rent.

Buy or lease?

Buy.

Save or invest?

Invest.

Budget or not?

Budget.

More from My MoneySense: 

• Ms. Money and Math adds up the good advice and subtracts the bad
• Taking risks and trusting your gut: Julie Barlow’s self-employment tips
• Tareq Hadhad unpacks his investing journey and how Peace By Chocolate came to be
• Finfluencer Joyee Yang on making the smart money moves early

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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