Interview With Sharon of The Frugal Duchess Blog

This is the 12th in a series of interviews HelpYourMoney.com is doing of other personal finance bloggers.

An Interview with Sharon Harvey of The Frugal Duchess Blog:

1. First, can you please introduce yourself and tell us why your started your personal finance blog?

I’m Sharon Harvey Rosenberg, the “Making Ends Meet” (freelance) columnist for the Miami Herald. My frugal column runs every Saturday and I enjoy working with my editors at the Herald.

I love writing; I love bargains and I love finance. I covered Wall Street for many years and during that time, I fell in love with the world of numbers, stocks, and financial trends. My weekly newspaper column and my Frugal Duchess blog enable me to combine my various passions and skills.

I enjoy blogging because I love immediacy and the informality of the format.The dialogue with other bloggers is great. What’s more, I love playing editor. I receive about 50 news releases each week from different companies, news outlets and pr firms. I enjoy the process of picking out the most interesting pieces, editing the copy and publishing.

2. Do you feel you are on the right track to reaching your financial goals and what are they?

Financial independence is my objective. Honestly, I’m quite far from that goal but I’m heading in the right direction. It’s a process; it’s a learning curve.
For me the curve is steep because I’m not naturally frugal. My instinct is to spend, spend, spend.

But children and marriage have a way of turning a Spa Diva like me into a frugal preacher. Also, overspending just makes me feel poor. Really poor. ( What good is a designer outfit if it makes you feel like a poverty case?) Basically, my mom and dad were right: Nothing beats hard work, organization and a savings plan.

3. Do you work in the financial industry?

For years, I worked as an editor and reporter in the newsletter division of Institutional Investor. Led by Tom Lamont — a great editor and mentor — I worked with a lot of smart people, who taught me the inside story about financial news, good reporting and ethics.

I’ve also worked with a lot of sharp editors and reporters at the Miami Daily Business Review and the Miami Herald.

4. If you had to recommend just one financial related book, what would it be?

I’m very fond of the Millionaire Next Door. That book offers great insights about wealth, family values and hard work. It really dispels a lot of myths about millionaires. I love the book’s message, namely: there is no substitute for discipline, delayed gratification and frugal living.

5. If you had to recommend just one financial related magazine, what would it be?

I enjoy Money Magazine. That publication has a great mix of financial stories that are instructive and down-to-earth. I used to work with Craig Matters, a Money Magazine editor, and he’s super sharp. I also enjoy Smart Money, For Me, and Kiplinger’s.

6. If you had to recommend just one or two financial related websites (besides your own and that is not a blog), what would it be?

I like JLP’s All Things Financial and from MSN, I especially enjoy the work of Money columnist Liz Pulliam Weston. I’m also a big fan of Hugh Chou’s calculators. (www.hughchou.org)

7. What is one of the WORST financial related decisions you ever made?

The worst financial decision: Quitting my well-paid job as a full-time financial reporter, cashing in on my 401K plan and using the proceeds to bankroll my new career as a freelance writer and columnist.

Also I’m still upset about that little home in Miami that was selling for $195,000. My apartment was bigger; I nixed the purchase. But I’m still renting and that little $200,000 house is now selling for about $1 million.

8. What is one of the BEST financial related decisions you ever made?

My best financial decision: Quitting my job as a full-time financial reporter, cashing in on my 401K plan and using the proceeds to bankroll my new career as a freelance writer and columnist.

Also without a home mortgage, I have the financial flexibility to take career risks.

9. Do You Trade Individual Stocks and If so recommend your favorite 3 to 5 picks?

I do not trade individual stocks. For years, I reported on the stock market and it was easier NOT to own any shares and to avoid any possible conflicts of interest. I’m so spacey and I worried that I would tout a stock and totally forget that I own it.

10. If you could give our readers just one financial related tip, what would it be?

Don’t nickel and dime yourself on meaningless expenses (extra coffees, manicures, music CDs, etc.) Save the money, annualize the savings, invest the proceeds and watch the small change add up.

11. Is there anything else you would like to share with our readers?

I don’t believe in deprivation. Dieting — with money or food –rarely brings about long-term change for me. I believe in modest treats, occasional luxuries and a balanced approach to money. Live it up but save a lot! Sharon Harvey Rosenberg

>> Visit Sharon’s The Frugal Duchess Blog.