On this episode of 2 Frugal Dudes, we’re talking to Troy Hunt to learn ten personal finance tips for technology professionals. Troy is am author Microsoft Regional Director and MVP who travels the world speaking and training technology professionals while blogging about it all on Troyhunt.com
Troy comes from a software development background during the peak of the .com era of the 1990s. He discovered that the greatest opportunity was in contracting rather than employment. Years later, he ended up in a corporate role. He invested his profits in real estate through a partnership with his wife, who had ample knowledge in the real estate market. Troy is now entirely independent again and has returned to his passion for contract work.
The Ten Personal Finance Lessons for Technology Professionals
Troy recently shared a blog post called “Ten Personal Finance Lessons for Technology Professionals” which we cover in this podcast! For the details on each, be sure to tune in.
Money buys choices – and those choices are personal and based on your own priorities.
The money you earn young is the most valuable money you will ever learn – compound interest is your friend.
Invest in financial literacy – the more you know, the more you’ll grow.
Learn the tax system – knowledge is power.
Know good debt from bad debt – think investing in property vs. maxing out your credit cards.
Diversify your potential earnings and risks – know where money comes from and how to protect it.
Prepare for luck – there are some circumstances out of your control that will impact your success.
Put a price on your time and your family – does the way you spend your time add value to your life?
Have a goal – without a goal, you have no direction.
Financial prosperity is a partnership – work with your spouse to reach your goal, otherwise, you’ll never get there.
Tune in for how to applies these lessons to your life.
Where Our Money Went
Kevin’s money hasn’t gone anywhere! He’s still recovering from the conference spending “hangover” and getting back on track with his usual spending.
Sean has been putting his money into his retirement accounts and maxed out his IRA contributions.