Money Conversation with Jaiye

Just as her name implies, Jaiye loves having a good time. In this Money Conversation, she talks about how she indulges in self-care while making calculated financial decisions.

Money Conversation with Jaiye

1. What do you do?

I'm a student.

2. As a student, do you have any streams of income?

I'm a part-time model. I also receive an allowance from my parents and I make dollar-denominated investments.

3. What made you start investing?

I feel like leaving my money to just sit in my account loses its value. Also, my sister used to work in an investment bank so she set up a dollar-denominated investment account for me, that's how I started. On my own, I found other investment apps that I now use to invest.

4. How does this behaviour influence how you spend your money?

I always try to save more of my money than I spend.

5. Is this saving habit just who you are or are you primarily saving towards a saving goal?

No, I think it's just who I am.

6. What's your money personality - are you an investor, a saver, a big spender, a debtor, or an avoider?

I'm a saver and an investor then occasionally, I'm a big spender.

7. What’s one big purchase you’ve made this year?

A wig that was about 400,000. I really liked the wig and I just wanted to spoil myself at the time.

8. What are your three most recurring expenses monthly?

Food, Uber, self-maintenance like spa dates, and making my hair. I just generally enjoy taking care of myself.

9. Let's say you are trying to reduce your monthly expenses, what's one thing you would likely cut down on?

I would say reducing the amount spent on eating out. I’d like to eat the food that's at home more.

10. Have you made a major money mistake this year?

Not really. I think a lot before I spend so I don't think I’ve made a big money mistake so far.

11. Do you think you should be managing your money better or do you think you are doing well enough?

I think I'm doing well enough. Obviously, I'm aware that there's always room for improvement but presently I think I'm doing well enough.

12. What does money mean to you?

Money means freedom, it means having options. Not having money can make you feel stranded and scared, which is why I don't even blow all my money when I get it. I always think, "What if something comes up that will require a large amount of money?" It's why I save, so I can afford the freedom money brings.

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