Please welcome ARB from Angry Retail Banker as our guest for today’s Financial Literacy Chronicles. This is Day 27 of 30 in the Financial Literacy Month interview series here on Enwealthen.
Please tell me a little bit about yourself and your blog.
I am a lazy Millennial who found himself in the retail banking industry about ten years ago and has worked his way up ever since. I’ve decided recently, however, that customer/financial services is no longer for me and now I’m fighting hard to earn financial freedom so I can live my own life on my own terms. Angry Retail Banker is part of that strategy.
My blog offers “An Insider’s Take On Retail Banking” and is different from other financial blogs in a number of ways. Besides being the most awesome thing on the Internet, it deviates from the traditional “Let me tell you to invest in income producing assets and then list my dividend income each month” blogs in a few ways. I stay within the retail banking niche (which nobody covers), I focus on the day to day life of customer service reps, and I use dark humor to keep my readers engaged.
It’s also therapeutic to write, as I’m able to vent my frustration and rage onto a digital platform rather than keeping it bottled up inside.
By working more hours today, I can work less years tomorrow.
Can you share your most impactful money memory from your childhood?
I don’t think I have one in the traditional sense.
I guess I have one from when I was six. My school was having some sort of thing in the gym. I don’t know, a thing, where you buy stuff. I dunno. My mom gave me $5 for the day to buy something. But of course, the pants she took out for me to wear for the day didn’t have any pockets because why the hell would they?
So when I saw absolutely nothing to buy (no Spider-Man comics? WTF?), I threw out the $5 bill.
When I told my mom I got rid of the bill, she flipped out at me.
And that’s how I learned that money has value.
We all receive financial advice from people in our lives. What’s the most interesting or useful financial advice you’ve received from your community?
From my community? You mean my neighborhood/town/ethnic-religious circle?
People around here aren’t worth the air they breathe. I didn’t learn anything of value about money management until my late twenties, even though I had been working in banking for years.
It was from the blogging community, where I learned about something wonderful called passive income. Passive income has become my active obsession since.
I have several personal finance books I regularly give to friends and family. What are your 3 favorite fundamental personal finance books you often gift to others?
I don’t think I’ve ever given a personal finance book as a gift. I’m a horrible person.
But as for my three favorites……….would you believe I’ve read very few?
Really, just check out my Resources page for financial books I enjoy.
What financial literacy education did you receive in school? If you had a magic wand, what would you change to improve that?
I once learned how to do a 1099EZ in high school. One time!
If I had a magic wand, I would have schools have a comprehensive financial literacy class that teaches kids about saving, investing, banking, budgeting, and taxes.
In order to fund the program, I would use my magic wand to get rid of gym class.
Complain all you want, but gym class is about as useful as a glass of saltwater in the middle of the ocean. Let’s get rid of that useless pile of c*** and institute a class that would actually help kids once they become adults.
There are so many blogs on the internet, what are 3 of your favorite blogs that instill financial literacy, either by word or action?
Can I put Angry Retail Banker three times?
No? Fine, I will say My Money Design (interview) (my very first financial blog I ever followed which taught me all about passive and online income), Mr. Free At 33 (actually, Dividend Mantra would take that spot if it were still accessible. That’s where I decided on a dividend income strategy to help achieve financial freedom), and Financial Samurai (interview) (which is probably just pound-for-pound the highest quality financial blog out there).
I like to keep inspirational quotes around the house to remind me of what’s important. Do you have a favorite money quote you use to inspire your financial life?
Yes, and I’m the one who made it up. It inspires me to keep working hard towards my goals, be it my day job at the bank, my side business, my blog, or at spending less. It was in response to someone who (justifiably) told me I was taking on too much. He’s probably right.
Anyhoo, the quote I made up is: “By working more hours today, I can work less years tomorrow.”
It speaks to the future power of each dollar you receive today via compounding, and why a little extra time spent at work now can mean a lifetime of never having to deal with a micromanaging boss and abusive customers ever again.
It’s why I took on a second job a year ago despite no pressing financial need to do so.
Start saving your money and investing it into income producing assets now.
Any advice to young people just entering the job market?
To all the young people starting out.
You might love your job right now. If you’re in customer service, you might even find dealing with the customers tolerable or even enjoyable. You might find yourself also wanting to be loyal to a specific employer for whatever reason and show that loyalty by staying on for the “long haul”.
Take this advice from me, a.k.a. you, 10-15 years from now: You will despise your job, your customers, and your company.
Your company will underpay you while increasing your workload beyond comprehension. Your work will become monotonous if you are lucky (and downright stress inducing if you live in the real world where you don’t ride a rainbow unicorn to work).
And you. Will. HATE. Your. Customers.
Read AM’s famous quote about his feelings toward humanity in Harlan Ellison’s I Have No Mouth And I Must Scream to understand how much you will hate the general public.
My advice? Start saving your money and investing it into income producing assets now. Read. Learn. Act. You will make some investment mistakes, but none of them will be game ending. The only crippling mistake you can make is waiting to start.
In the meantime, do whatever it takes (ethically, of course) to get away from the general public and towards a reasonably well paying job that doesn’t involve any customer service. Does that mean moving from job to job? Sarah Palin says “You betcha!”
Because your employer has only one goal in mind: To squeeze every last drop of labor, energy, and creativity from you as possible for as little in return.
They aren’t looking out for you. Only you are looking out for you.
You owe them nothing. Anyone who says otherwise is lying and is trying to f*** you over more hardcore than a Japanese bondage hentai movie.
Pretty much, don’t make the mistakes in life that would motivate you to start a job venting blog such as “Angry Retail Banker”.
That one’s taken, by the way.
Thanks for contributing to Financial Literacy Month here on Enwealthen, ARB!
Follow Angry Retail Banker to get all the best retail banking news and commentary, as well as valuable resources to make your financial life that much easier. Head on over and subscribe, joining thousands of ARBonauts who came before you. You can also follow me on Twitter and Reddit. Be sure to share my blog with everyone you know! Don’t ask questions, just do it!
Readers, please share your thoughts on ARB’s experiences, any additional questions you have, and suggestions for who else you’d like to see interviewed in the comments below. And please do share this with your friends on Facebook, Twitter, and Pinterest. Thanks!