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Financial Shero of the Week

10 questions for Hava Misimi, Senior Associate at KPMG and Blogger at femance.com

1.  What did you buy with your first self-earned money?

A classic for my first four walls – a Pax wardrobe.

2.  What tools do you use to organize your finances?

My Excel household expense budget is enough for a rough overview. I also used the Money Control app for a while to set personal budgets for private expenses and track them. I rarely do that at the moment because, over time, I got a feeling for the expenses and personally set budgets for the individual areas.

3.  Do you own stocks or funds?

Both, but I prefer to invest in ETFs – Exchange Traded Funds – on the stock exchange. This is where I currently see the biggest advantages for me, especially when you consider the low costs compared to funds. But I also find it super exciting to invest in individual stocks. It’s a lot of fun, but in my opinion you should be well informed when buying individual stocks and stay on the ball – i.e., watch the stocks and diversify the portfolio to spread the risk.

4.  If we gave you 1000 Euros, what would you do with the money?

Invite my family and close friends to dinner and spend a nice day with them – the most beautiful gift is time!
With the rest, I would like to expand my stock portfolio with shares in two companies that I have had my eye on for some time.

5.  What is worth spending (a lot of) money on?

It is definitely worth investing (a lot of) money in yourself. By this, I mean above all one’s own training, which always pays off in the long run. Be it an additional course of study, additional education that you have been thinking about for some time, or a trip to a foreign country, everything that contributes to your personal development or gives you pleasure and appropriates your abilities. This investment never goes wrong.

6.  Have you ever forgotten your PIN?

Yes… Who hasn’t? It’s pretty easy to mess up the numbers.

7.  How do you pay: card or digital?

I pay mostly with card or in cash. But I’ve tried mobile payment providers like boon and think it’s great! For many in Germany this is still a little unusual. However, I believe that we will be paying much more with our smartphone in the foreseeable future.

8.  Last major purchase?

I bought my own apartment as a capital investment. That was quite a large and complicated purchase, but I am very proud of it.

9.  The last time you managed to resist the impulse to buy – and what was it?

I can tell a several stories about this… I went through my “Frugal February” in February and didn’t buy anything that I normally do on a regular basis besides the basics – for example, the coffee to-go or a spontaneous new piece of clothing. It wasn’t easy, but the results are exciting. You can read them on my blog 😉

10.  What is priceless?

For me, health, family, honest & loyal friends, great experiences and, of course, love are priceless.

As Coco Chanel already said, “The best things in life are free, the second best are very expensive.”