DIY LIFESTYLE

My First Time: Learning About Love and Finance With Tangerine

Some people may consider me an adult (okay, very few people in my life would actually say that), but that is definitely not how I see myself. Sure, I may look like I have my life together on Instagram, however I can definitively tell you that I do not. I will wait until the last foods I have in my cupboards are quinoa and saltines before I go grocery shopping. I have no sense of direction and would be a completely lost soul without Google Maps. I also have little to no knowledge of how to manage my finances. I think in the adult department, I’m sort of failing.

As of late, I’ve been very curious about how to manage my finances and investments. Okay, I actually don’t have any investments yet, but I would like to acquire the information I would need to invest in stocks if I wanted them. If you’ve read my list of 30 things I want to accomplish before I’m 30 post, then you’ll know that I want to save 40K within the next five years (which isn’t a small feat when you’re a spender and shopaholic like I am). Thankfully, the lovely people at Tangerine Bank reached out and invited me to an event at BrainStation, where I could educate myself on how to reach my financial goals. Here’s a little overview about the event:

Love and Finance: Your Relationship With Investing

After checking-in and chatting with some friends and obviously grabbing a few Boomerangs for Instagram, the two keynote speakers, Preet Banerjee and Kelley Keehn gave little presentations on personal finance. Preet discussed a high-level overview about finances and investing, explaining everything from the basics of investing and how to navigate investments as a whole. Kelley took the presentation for a fun turn when she started to discuss how millennials deal with discussing finances with partners.

I never realized it before, but a lot of my friends won’t chat with their significant others about how much they make yearly and what their financial goals are. Apparently, back in the day it was actually written into employment contracts that you couldn’t discuss your income with your spouse – but it’s kind of crazy that, that sigma still exists! My boyfriend and I have always been pretty open with how much we make yearly, but that’s due to the fact we think it’s super important for our financial goals to align if we’re going to continue to be in a committed relationship. He’s also a saver and I’m a spender, so we’re very aware of our own little balance. I know it sounds super adulty – but just ask your partner where they want to see themselves financially in five years. It’s pretty interesting to see if your goals lineup!

After the keynote speakers gave us a few laughs and a lot of insight, there were these little “speed dating” sessions where you could chat with a financial advisor about, well anything your heart desired financially, really!

Jonathan and I had an amazing time chatting with our investor, and he even gave us some amazing tips. In order to make sure you have a good amount of money for retirement (which trust me, a lot of us millennials should start thinking about more), this equation is super helpful. If you’re looking into investing, he said that there’s a pretty simple rule of thumb to follow:

Take the number 100 and subtract your age. That’s the percentage of your retirement savings finances that should be in stocks. Then, your age should be the percentage of your retirement savings that you should have in bonds. As you age, this helps your investment portfolio become increasingly lower risk. This is a surefire safe bet if you’re looking into starting investing.

To use myself as an example:

100 – 25 (my age) = 75%

Therefore, since I’m pretty young and have a stable income, I should currently be investing 75%in stocks and 25% should be in bonds. As Preet explained, bonds are a more stable investment that will slowly grow over time, while stocks fluctuate in progress more. The slow rise of your investment is almost always guaranteed with bonds (which is why you want more of your money to be invested in bonds as you age and need a more stable income). Since stocks have the potential to be more risky (but with a greater reward), taking that risk when you’re younger and doing that less and less over time allows you to increase your investment without jeopardizing your investment portfolio  too much. Makes sense?

So, even though I’ve already made a savings goal in my 30 before 30, here’s my financial goals starting as of today:

  1. Using the Tangerine Investment Funds Portfolio Selector, I will find an investment fund that fits my risk tolerance and financial goals.
  2. Spend less and save more (aka curb my spending habits).
  3. Save that 40K pretty effortlessly and make an extra 10K in investments!

Wish me luck, folks! If you’re looking to learn more about investing, visit the Tangerine website or call Tangerine to find out more.

With love,

56 Comments

    1. Hahaha honestly it’s suuuuper hard!! But after going to this event and learning more about finances and investing, it’s so much easier than we think!

      xo,

      H

    1. Awe thanks so much Kasie, and it was a great event!! Super eyeopening if you’re looking to start investing/manage your finances better!

      xo,

      H

    1. Haha I know right?! I was literally JUST talking to someone about how cool they are as a bank. You should totally look into Tangerine!

      xo,

      H

    1. I try, I try! It’s so true, some days it feels like a delicate balance when you’re trying to manage finances, but it shouldn’t be that hard (and really isn’t if you look into it!!)

      xo,

      H

    1. It totally was!! And I definitely agree with you girly. I think there’s a huge gap between what we’re taught in school and what we need in real life (like, who really uses algebra on an everyday basis?!)

      xo,

      H

  1. My parents always taught me how to save so I could spend in the future, make choices for our money !!! This bank has an interesting and young name and it seems to me a great tip to save !!!
    xoxo

    marisasclosetblog.com

    1. Awe that’s amazing that you parents instilled such good saving habits in you!! I wish I knew more about financial management, but looks like I’ll have to try my best to learn!

      xo,

      H

    1. It was definitely super helpful!! I didn’t know much about financial management going into the event, so I was super glad I got to learn so much!

      xo,

      H

  2. How interesting!! I’m one of those who is a sharer, me and my other half are open books financially because of how we have lived throughout our relationship..we relied on one another financially very early on due to us having very unstable work in TV production. Since then we’ve moved into working from home in affiliate marketing and blogging so now we pretty much deal with money together. Some would say this was too early to be doing this seeing as we’re not married but I really thinks it helps connect us and ensure we are aligned in terms of goals as you mentioned! This was such an interesting post!

    x imogen // imogenrose.co.uk

    1. That’s amazing that you guys are so open with one another and work out everything financially! Who cares if you’re not married, it’s so important to not only be open emotionally, but also financially if you see a relationship with one another in the future! Thanks for taking a read girly 🙂

      xo,

      H

    1. I know right, isn’t that totally crazy?! Especially since we live in such an open society today, I think it’s super important to be financially honest with your partner!

      xo,

      H

    1. I know right, but we can all start somewhere!! Trying your best and getting help financially is always the most important!

      xo,

      H

    1. Agreeeeeed LaToya! It’s super important to even just take a look at your finances and re-evaluate your habits! Thanks for reading 🙂

      xo,

      H

  3. There are plenty of ways to be an adult, and you’re doing great by trying to learn more about finance! Trying to save 40k in the next five years is really good! Definitely doable with planning and budgeting :). I didn’t know that significant others don’t talk about income. I mean it’s not like they’re going to announce to the world they told them either?

    I agree with the high risk with young age profile. Great way to take advantage of the market gains and all.

    exquisitely.me

    1. I know right?! It seems pretty doable, so I hope I can achieve it if I curb my spending habits! Thanks so much for taking a read Nancy 🙂

      xo,

      H

    1. It’s like you totally read my mind!! And it’s so true, it make such a difference if you aren’t too knowledgeable about finances (and let’s be real, how many of us are?!)

      xo,

      H

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