Momentum Series Interview – Moneylogue: Empowering Your Mind To Financial Freedom
This marks feature #45 in the Momentum Series – an interview series to share the stories of bloggers from across the personal finance community.
The goal is to showcase their story, the wins, the losses and the actionable advice that others can take value from and insights about their blogging journey. Whether that be conquering debt, maximizing career earnings, the road to financial independence or other strategies for financial and blogging success.
This week I’m excited to welcome Bernz JP from the personal finance blog Moneylogue to the Momentum Series!
Bernz JP has a ton of experience in the online business world and great framework of thinking around the connection between your money and mind. On his blog, Moneylogue, he aims to help those who are struggling in getting motivated to become financially successful and at the same time learn about managing their finances.
If you want to connect with Bernz JP from Moneylogue:
Ladies and gentlemen please enjoy this Momentum Series Interview – Moneylogue: Empowering Your Mind To Financial Freedom.
My name is Bernz JP and I’m 50ish years of age. I love affiliate marketing, personal finance and an avid golfer with a current handicap of 14. I also love traveling and I’m usually out of the country two months in a year.
I have been married to my wonderful my wife for more than 20 years. She’s an accountant and a banker for more than 20 years. We have two kids (a girl and a boy). I co-founded a foundation based in Illinois that helps orphaned children.
I am the blogger behind Moneylogue.com. This blog was created for everyday people who struggle with their finances not because they lack knowledge but simply due to a lack of motivation and self-discipline.
If people want to solve their money problems, they will have to start with changing their behavior and I found that self-discipline is a major contributing factor to financial success. Knowledge is good but without self-discipline, it’s almost impossible to reach a goal.
BA in Accountancy. Special course in income tax preparation courses for both business and personal.
Worked for the Federal government for 20 some years. Also, worked part-time (on and off) at a bank while working for the Fed and at the same time, I also focused on learning Internet/Affiliate Marketing. Established an LLC for my internet marketing business in 2005 and finally quit my job in 2007 to focus on my online business. I was also involved in buying and selling domain names and actually sold a couple of affiliate websites and a few domain names in the past. I still have a portfolio of domain names available for sale at kramster.com.
Additionally, I started blogging in 2011 but lost interest in the topic I was blogging about. Launched Moneylogue.com in mid-2016.
Has taking control of your money and mastering your personal finances always been your mindset as an adult? Can you share the coles notes version of your financial journey?
Not at all, the first time I started seriously saving money was the time when I wanted to buy my first car. In fact, this was what I’d consider my first financial goal in life. It was such a fantastic feeling to be able to save for that car’s downpayment and able to buy my own car.
Things changed when I got married, bigger goals (buying a house) kicked in, and our dream of buying our first house became a reality two and a half years after getting married. I remember at that time we were saving almost 70% of our household income. Again things changed after we bought the house and oops, two kids.
Like I said, getting married was my wake-up call to getting serious with my finances. I started learning more about investing and the stock market by reading books and newsletters. I was pretty much at the bookstore every weekend grabbing every financial book I came across with.
Started my stock day trading adventure in the mid-’90s. Technology stocks were hot and almost everyone that I knew were talking about a particular stock at that time. I day traded for almost a year and it was a profitable adventure, but the stress that comes with day trading was too much for me to handle.
I started looking for ways on how I can make money online and that’s when I got started with Affiliate marketing. While in the process of learning, I happened to talk to a friend who happens to know of a telecommunication company that were looking for someone to market their telecom products. Long story short, I became their top producing agent/affiliate in under six months.
I had the energy and the drive and was very excited to do the same with other companies. My biggest opportunity came while I was watching CNBC one day. I remember a CEO of a startup company was being interviewed about their new product (financial industry).
I was very impressed with their product and decided to call the company and asked to be connected to the affiliate manager. Unfortunately, being a startup, an affiliate program was not one of their priorities but they were very excited about the opportunity of working with me. I helped them set up their affiliate program and became their very first affiliate and two years after became one of their top affiliates. With my marketing effort, I was able to generate more than 200,000 paying customers for them and the company went from 5 employees to 250 in a span of three years.
What strategies and tactics have you implemented in your to life to best set you up for financial success?
I was never good at saving money. My wife was better at saving so she handles the saving money part of our finances and I handle the investment part. We do split handling the rest of our monthly bills.
I’d say for those who are married, pick the right partner who will be in charge of your bills, your daily expenses, and your savings. Keep the communication open regarding budget, etc. This will make both of you accountable.
I am more of the work hard, play hard type of person.
Have you made any major financial mistakes? If so, what was the outcome and what did you learn from these mistakes?
I could not really think of anything, but maybe the closest one was when I bought a two-year-old/pre-owned sports car for cash in 2009. I enjoyed the car, but it was not an economically sound decision. I honestly believed now that I shouldn’t have paid cash for it.
What are some of the most influential resources that have shaped your money mindset or financial situation?
I’ve read plenty of financial books from investing in real estate and stocks to motivational reads. But the most special ones for me are:
- No Excuses by Brian Tracy: This book taught me self- discipline and assisted me in becoming the disciplined person that I am today.
- Your Erroneous Zone and Staying on the Path both by Wayne Dyer: These two are my go-to books whenever I need positive reinforcement and refocusing about living a balanced life.
- Psychology of Winning by Dennis Waitley: This book is all about winning in life. I own both the book and the digital download. I usually listen to this tape before playing a round of golf.
Not a Podcast type of person. Maybe I’m old school?
I do read a lot of personal finance and self-development blogs to continue learning about blogging and some of my favorites are:
Apps or Services
Is there an area or area(s) of your own personal finances that you’re still looking to better master and improve?
Yes, passive income through real estate investing. Our current home is the third house I’ve owned and have profited from each sale, but this time I’d like to get into flipping houses. I’d also like to buy another income property.
If you could send a memo to every 18-22 year old in North America about better managing their finances and understanding money but it could only be 3 sentences long, what would that memo be?
Start reading and learning, and make sure that you track your spending habits, especially when it comes to using your credit cards. Remain focused, stick to your plan, be patient and learn to manage your stress by controlling your emotions. We tend to make the wrong decisions when we rush things out and when we’re under stress.
What strategies have helped you stay motivated and practicing self discipline on your financial journey?
I always think of my family. My family comes first all the time and this way of thinking helps me to stay focus on my goals and priorities.
Can you share the mindset around thinking abundantly and living sufficiently in regards to financial freedom?
An abundance mindset does not unlock the key to fabulous riches. It takes more than that. It simply means that there’s always light at the end of the tunnel. When you have an abundant mindset, you make the extra effort to achieve your goals.
Living sufficiently is all about living in contentment. Sufficient living is about enjoying what you truly love and realizing that it does not have to cost too much.
What are the 7 “P’s” of financially successful people and are you able to provide a quick sentence on each P?
- Plan: Planning is about being proactive and being ready to respond to challenges.
- Patience: To be successful in life, you have to work for it and give yourself time and permission to reach your goals.
- Persistence: Persistence simply means not giving up too soon on your dreams.
- Practice: To form a habit, practice, practice, practice.
- Performance: Always give it your best shot.
- Purpose: Start with a purpose and plan accordingly.
- Passion: You always make an effort to learn if you can find your happiness through your passion.
When did you first start blogging? Was there a specific launching off point or what influenced you to go down that path?
I started blogging in 2011. I was encouraged when I sold a website (not blogging) and I was outsourcing most of my work at that time and decided to blog about outsourcing.
The plan was to start a blog and sell the site after one year. It was not a good plan simply because I was not passionate about the topic.
Is there a mission statement or underlying purpose to what you intend to accomplish with Moneylogue?
Yes, I’d like to make Moneylogue the:
Go-to blog for those who are struggling in getting motivated to become financially successful and at the same time learn about managing their finances.
If you could recommend 3 of your blog posts for Making Momentum readers to check out, what would those be?
Any final pieces of advice or recommendations?
Don’t stop learning, don’t stop searching for what you really want to do in life and do not be afraid to change careers or change jobs. Always be on the lookout for opportunities.
Life is what we make it and planning for the future is always good, but do not live in the future. Live a balanced life from start to finish.
Any special shoutouts?
Yes, firstly, a shoutout to my wife who’s always been there to support me. Secondly, to my readers, social media followers and the blogging community, they truly inspire me. Lastly, to Scott for giving me this opportunity.