Interviewing Well-Heeled from her blog namesake Well-Heeled, with a mission. The blog is fun, filled with occasional shopping adventures, and extremely well written.
Biography
I’m in my early-mid twenties. I live in California.I grew up in a middle class family that, thanks to the incredible saving prowess of Mom, probably has a much higher net worth than people would guess just by looking at us.
My big financial commitments for the next ten years are an MBA, a down payment on a house, and (hopefully) a wedding.
Oh, and some really cool overseas travel too, if you please.
My saving hero is Mom, and my investing gurus are John Bogle and Dave Swenson.
What’s behind your blog name and what made you want to start blogging?
The name of my blog (Well-Heeled) has 2 meanings:
1. the shoes come in because I like shoes, and 2. the phrase means having plenty of money, which, if the future of Social Security is as dire as some economists project, I’ll definitely need for my golden age.
When I first began in this blog in 2006, I conceived it as a “lifestyle – decor – fashion” blog. I quickly realized, however, that I had neither the patience to search the ‘net for pictures of the Next Cute Shoe, nor the money to buy them. It would be preferable, I thought, if my blog would be good for me (much like leafy greens and arch support).Somehow I stumbled on to some personal finance blogs, liked what I saw, and have been writing on the topic ever since.
What do you do as an occupation and how’d you get into it?
I work in an office and basically spend all my hours on Excel and PowerPoint. The Excel comes into handy while I’m managing my own personal finance matters.
Why is personal finance such an important subject for you?
My mother is very good with saving – and she imparted on me a healthy fear of being old and poor. Growing old is unavoidable (well, unless you die young!), but I hope with good financial decisions and some luck, I’ll avoid being old AND poor. I want to be one of those cool old ladies who go on Mediterranean cruises and African safaris.
Name 3 of your best buys/investments and why
1. Roth IRA: I first started one in 2006, while I was still in college. Best financial decision of my life – after that, maxing out the Roth has became a non-negotiable line item in my budget.
2. IKEA HALLINGBY bed-frame: The headboard is made of black metal with a slight curve to it – very simple and elegant, in my opinion. And, it only costs $50. Every time I look at it I think how much I love the style and the shape. It’s a bit small to be a master bed, but one day, it’s going in my guest bedroom.
3. My Honda. My dad gave it to me, so I didn’t buy it, but I suppose it can be considered an “investment” in that I saved all the money that I would’ve spent on a new car. It has 210,000+ miles and is still going strong!
What are the 3 worst financial mistakes a person can make?
1. Taking on unsustainable levels of consumer debt2. Not having adequate insurance (health, disability, umbrella policy if you have significant assets, etc.)
3. Not being informed about your personal financial situation
What is “personal style” to you?
A personal style is an expression of everything that one finds beautiful, comfortable, and tasteful. Without getting too philosophical, I think one’s personal style is also a manner of living.A framed old map of Portugal and a carved monkey sculpture says that I’m a world-traveler with a quirky sense of humor.
A cashmere blanket artfully thrown over the couch says that my world is deliciously, carelessly luxurious. Christian Louboutins paired with a $20 Target t-shirt says that I can mix high and low and pull off effortless chic.
Through financial decisions, we reveal our priorities and incentives, and through style, we show the world what we want it to see, and how we want to see ourselves.
Name 3 of your best fashion splurges and why
Hmm… none of my clothes cost over $100, so I’m not sure they can be defined as “splurges”. So I’m going to list 3 pieces of clothing that I love.1. Rachel Pally cummerbund dress – backless halter. Sexiest little black dress I own.
2. Grey herringbone trench coat – I got it for around $13 at a super duper of a sale. But I know it’s a piece I’m going to have for the next 10 years.
3. Red satin floor-length gown with low-cut back (imagine a simpler version of Nicole Kidman’s dress in Moulin Rouge). It’s a gorgeous style, cut, and color. I got it for $80 several years ago. Wore it to prom – felt absolutely beautiful in it. I am just waiting for another occasion when I can bring it out of the suitcase.
What are the 3 WORST fashion trends, EVER?
I don’t have specifics in mind, but I cringe at outfits that makes the wearer look uncomfortable or inappropriate for the occasion.
What is your signature style?
Signature style? I’m still trying to figure that out.I have lots of dresses and skirts.
I almost never wear jeans. I love pearls (especially earrings), so I wear those quite often. I’m trying to bring more color into my wardrobe – right now I have a lot of blacks, greys, and neutrals.
You have $1000 to spend and you must spend the entire amount in 1 day in the shops. GO!
I’d probably spend $500 on a three-piece suit, preferably in gray garbadine wool (JCrew on sale, perhaps?).
I’d take $100 and get a quality (but not name brand) handbag
…then the remaining $400 will be spent on bedding, in support of one of my favorite activities – sleep!
Pick 4 dishes you could eat for the rest of your life (continuously)
1. Sushi
2. Fried rice
3. Crepes (with nutella & fresh fruit)
4. Fish tacos
I’d be REALLY sad if I had to limit my food intake to only four foods.
What’s on your “Must-Buy” list right now?
1. Stocks, for 2009 Roth IRA (is that too nerdy?!)
2. Queen-sized comforter
3. 2009 desk-top calendar – this might sound strange, but I had a super cute 2008 calendar – now I’m trying to find something that will be even better.
Name 3 of the most frustrating things about going shopping
1. Feeling chubby when trying on clothes.
2. Not finding anything, but feeling pressured to buy something because I’ve already spent so much time looking.
3. Crowds! Another reason why I’ll not a fan of the stores on Black Friday.
How can fashion and finance come together harmoniously for you?
Right now, I’m on a big “declutter” kick – especially when it comes to my wardrobe. I’m trying to adopt the mottos, “less is more”, “quality over quantity”, and “experience, not stuff”.
But there’s nothing wrong with a treat once in a while.
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Miss M
on Feb 11th, 2009
@ 9:58 AM:
Lovely interview, I like Well Heeled even more now. The personal style bit is great.
Saver Queen
on Feb 11th, 2009
@ 10:54 AM:
I think your comment about the three biggest financial mistakes you can make are really wise. It seems like making good financial decisions is complicated at times, but if you follow those rules, you can’t go too far off!
Monica
on Feb 11th, 2009
@ 11:14 AM:
Just came across your blog & must say very informative! Just bookmarked it:)
Michelle
on Feb 11th, 2009
@ 12:21 PM:
I may be moving out soon, but I am still on a mission… to buy my first pair of Louboutin’s. Annnndddd… I hear that Saks (or is it another store) finally ships to Canada, so I can have them here!
10.5 Very Prive… here I come!
S
on Feb 11th, 2009
@ 1:51 PM:
I love well-heeled’s blog. Thanks for the interview!
Fabulously Broke
on Feb 11th, 2009
@ 3:52 PM:
Thanks Monica!
Well-Heeled was a pleasure to interview.
Well-Heeled
on Feb 11th, 2009
@ 9:43 PM:
Thanks for the kind words everyone.
And thanks to FB for the interview.
marisol
on Feb 19th, 2009
@ 10:17 PM:
Another awesome blog to check out. Thanks FB!