Read a Q&A with Jessica Irvine! | Money with Jess

Jessica Irvine is one of Australia’s most loved and respected economics journalists. She is currently a senior economics writer with the Sydney Morning Herald and The Age newspapers. She has an honours degree in Economics and regularly overshares the intimate details of her financial life on her Instagram @moneywithjess

Today, Jessica Irvine is on the blog to answer a few of our questions about her new book: Money with Jess: Your Ultimate Guide to Household Budgeting! Read on …

Jessica Irvine

Please tell us about your book, Money with Jess!

JI: It’s jam-packed with more than 300+ money saving hacks and is my very best attempt to make the subject of money less scary and boring for people. It’s everything I have learnt about money – what it is, how to get it, how to spend and invest it – during my nearly two decades as an economics and finance journalist. It’s also quite a personal story of how I overhauled my own finances after becoming a single mum and the unique budgeting system I created – and still use to this day – to organise my money. I am so proud of this book.

Why did you write this book?

JI: To help alleviate the suffering so many people feel when it comes to money. Money makes so many people feel scared, worried, anxious and afraid. I genuinely believe most of that suffering is unnecessary, if you just learn a few basic things about money and its role in your life. I’ve also felt the suffering, but arrived at a place of peace and calm when it comes to managing my money. I want to share that feeling with as many people as possible.

Why do you think that people find budgeting so difficult?

JI: Some people – like me – just never get the memo that you’re supposed to actually track and deliberately allocate your money! Some people have an instinctive reaction that budgeting is ‘boring’. To me, budgeting is a process of becoming more mindful about how you earn and spend your money, which is really a process of becoming more mindful about how you want to live your life. What could be more interesting than that?! I also think people worry budgeting means spending hours a day counting their money. But it really doesn’t have to be that onerous. Using the budgeting system I outline in the book, I estimate I spend about 2 -3 hours a month budgeting – about the length of a movie.

What’s the number one thing you would tell anybody looking to budget better, save more and spend more responsibly?

JI: Ah, that’s an easy one: start keeping track of your spending. Even if it’s just for one month, literally get a piece of paper and write down everything you spend. I provide worksheets in the book for you to do this, and they can also be downloaded for free from my website. I really believe there are benefits to doing this process by hand, rather than via an app or spreadsheet, as it brings a mindfulness to the process. I also colour code all my spending with different coloured highlighters, allocated to my 10 different spending categories. This is all detailed in the book. I find it so enjoyable.

Personal finance tips and tricks seem to be everywhere. How do you tell a good one from a not-so-good one?

JI: Ah, this is easy too! If a tip doesn’t help you cut your spending, increase your income or point you in the direction of an investment which is likely to yield greater after-tax returns for a given risk-profile, it’s not a good one. The secret to financial success is simply to spend less than you earn and invest the rest (until you retire, when you get to spend it – woo hoo!). If a tip seems too good to be true it probably is, particularly when it comes to investing. Stick to the basics.

Can you tell us a little bit about your journey towards becoming a writer?

JI: I started as a cadet journalist at The Sydney Morning Herald and The Age at age 24. I’m almost 41 now. So that’s 17 years of honing my craft. I started out writing in the business section, covering movements in the Aussie dollar and financial markets. I moved to Canberra as economics correspondent in the last year of the Howard government and caught the first year of the Rudd government before moving back to Sydney and becoming an opinion and editorial writer. I’ve always loved writing – I’m a voracious diarist and journaler. I’ve overcome a lot of self-doubt (which I write briefly about in the book) and now reckon I’m pretty good at it.

Who did you write this book for? Who do you wish would read it?

JI: Anyone who suffers when they think about money. If you’re fabulously wealthy or feel 100 per cent in control of your money and your money-related decisions, you can probably skip to the next book! Everyone else, come on down!

What is the last book you read and loved?

JI: I read a lot of news and serious research papers in my day job, so I like to read non-fiction at home. The last book that truly captivated me was Where the Crawdads Sing by Delia Owens. It is a complex emotional story, but there was something about the world she describes – living wild and free among the salt marshes – that really appealed to me. I often crave a simpler life.

What do you hope readers will discover in Money with Jess?

JI: The secret to happiness! Ha. A friend, perhaps? Not everyone has a friend or family member they can talk to about money stuff. Money is often a pretty taboo topic and people don’t like to reveal too much about how much they spend or how they spend it. Not me! In the book, I actually give you a snapshot of my total spending for one year, as a guide to creating your own annual budget. I hope that readers will connect with my personal story and find Money with Jess a non-intimidating entry point to an often fraught subject. I hope you read it and it makes you feel more at ease. That would certainly make me happy ☺

And finally, what’s up next for you?

JI: Writing this book while also being a single mum working in a full-time and high-profile job was, to be honest, very draining. I’ve given it my all. Now, I am looking forward to some rest, where possible. I’m already back in the gym doing CrossFit four times a week and spending more time trying to prepare healthy and budget-friendly meals for myself and my son. You can follow me on Instagram @moneywithjess.

Thanks Jessica!

—Money with Jess by Jessica Irvine (John Wiley & Sons Australia) is out now. Limited signed copies are available while stocks last!

Money with Jess

Limited Signed Copies Available!

by Jessica Irvine

Does thinking about money make you feel overwhelmed, confused or anxious? That ends now. Join one of Australia’s most loved and respected economics journalists, Jessica Irvine, as she helps you strip away your negative money thoughts and teaches you the real meaning of money: how to get it, how to spend it and how to save it.

Whether you want to buy a home, retire comfortably, sleep well at night, leave a job you hate or borrow to build your...

Order NowRead More

No comments Share:

About the Contributor

Booktopia