Hello! Today,
I want to introduce you to my financially savvy friend Gillian
Giorgio. We attended an event a while
back and instantly connected. She’s the
woman I go to when I want to get an opinion on some of my future
purchases like handsome handbags, wonderful winter coats, and beautiful boots. This is why becoming financially
literate is so important. When
purchasing these types of items for fall, I prefer to look at things from an
investment approach.
Hi Gillian!
Thank you for being a guest on the blog today to speak with me about finance and
fashion.
It’s a pleasure to be here with you Joanna!
I am grateful to be able to share some time with your fashion forward and loyal
readers.
Why is
financial literacy an important topic in regards to making
purchases?
It is important to make purchases in
a smart way with a long-term view of how you will be able to utilize these
items now and in the future. Therefore,
thinking about how to wisely use your money will make a difference for you. You may even find that some vintage or classic
pieces could gain value if you take care of them well. As you exchange your money for pieces that you
want to make a statement, the choices you make can affect your financial bottom
line now as well as later.
Photo By: Franz Swantko |
How can your understanding of financial literacy affect your future?
That’s a great question! When you are more financially literate, you
understand the principles of saving and how debt is so expensive. It’s better to save up for what you really
want, instead of charging on your credit cards and dealing with lots of
interest. Also, when saving money, you
want to look at the interest you are earning, so you can grow more money. I always joke about how I want to have as
many ‘piles’ (of money) as possible in different places. Financial literacy helps you know where the
best places are for you.
Photo By: Franz Swantko |
If I wanted
to invest in a pricey item for fall, what would you suggest I look for when
making a purchase like this?
The items you choose will always be a
personal decision, but I can give you some idea of a strategy. There are certain things each person will
want to spend more on and some they are willing to take a less expensive
alternative. It’s important for you to
decide which pieces you want high quality and which you can do without;
therefore, you can put your money to work for you a little better in line with
your fashion philosophy.
Photo By: Joanna Joy |
How would
you suggest I budget and prepare for an investment purchase?
Of course, each person’s budget will
be different and it’s tough to give an answer appropriate for everyone. Start by taking an objective look at what you
make, what you have saved and the pieces that are absolute ‘must haves.’ Review them and ask yourself, ‘will this
purchase I make now make a difference for me in 6 months to 1 year?’ or ‘Is
this an item I must have immediately, or can it wait?’ Occasionally, you may
find a something that may never come again; those are times when you have to
weigh out the pros and cons.
Photo By: Franz Swantko |
When you
teach your daughters about financial literacy in relation to making purchases, what advice are you
going to give them?
My daughters are two of the most
amazing little girls who make me so grateful and remind me to have fun in
life. My mindset about money will shape
the way they look at it, so I make it a point to discuss basic ideas openly
with them (even though they are 3 and 6 years old!). A good rule of thumb that I use when I’m
speaking to older kids and some adults is to separate your income into 5
different buckets: Give (charity/tithing), Wealth (long-term saving for the
future), Education (something for learning), Want (fashion items, games, toys),
and FUN (Blow it on Whatever You Want!).
These sound like simple ideas, but when we utilize these ideas and an
emergency comes up (which they always do), and we must wipe out all our savings,
at least we know how to start again.
Thank You
Gillian! This was such a helpful and informative post. Thank you for sharing this with
me and my readers.
Please feel free to
follow Gillian Giorgio’s show GGInspire on:
Facebook: Gillian
Giorgio
Instagram: gginspire
LinkedIn: Gillian Giorgio
LinkedIn: Gillian Giorgio
Thank you Regine. Glad you enjoyed it!
ReplyDeleteVery interesting interview :-)
ReplyDeleteThank you Alice!
DeleteOnly the most beautiful dresses glamchase rockabilly occasion dresses reviews are thought for a perfect beauty like you!Let us buy sexy dresses for great day.
ReplyDeletehttp://www.glamchase.co.uk
this is such a helpful post. Thanks for sharing
ReplyDeleteThe Glossychic
Thank you for visiting.
DeleteAn interesting read.
ReplyDeleteGillian shared some wonderful tips in this interview! I really liked her line "I always joke about how I want to have as many ‘piles’ (of money) as possible in different places." That's the approach my husband and I take to saving and investing as well. It's good to have a diversified portfolio.
ReplyDeleteI hope you have a great week, Joanna!
~Lindsey
https://have-clothes-will-travel.com/
Thank you Lindsey. You too!
DeleteI am definitely a magpie when it comes to buying clothes, buying anything bright, sparkly and embellished, which is a nightmare when styling! Walking away to think about it really does help, as I have a tendancy to impulse buy! I need to save money and have a capsule wardrobe that will see me through the seasons with some staple trend items! Thanks for sharing these tips.
ReplyDeleteJaz xoxo
http://www.thelifeofasocialbutterfly.co.uk
I'm so glad you found it helpful Jasmine. I agree, it's so hard to resist all of those sparkly items:)
DeleteThanks a lot :D
ReplyDeletesuper interesting post my friend :)
NEW WISHLIST POST | LAST BEAUTY NEWS TO TRY NOW!
Instagram ∫ Facebook Official Page ∫ Miguel Gouveia / Blog Pieces Of Me :D
Thank You Miguel!
DeleteSuch an interesting interview!
ReplyDeleteKisses, Paola.
Expressyourself
Thank you Paola!
Delete