Meet Colby Wilson, the first diva to participate in our “Diva Of The Week” series! Like many other twenty-somethings Colby’s financial life is just unfolding, but that’s not to say she doesn’t know her stuff when it comes to personal finance! The 22-year old associate producer for CBS New Orleans writes about financial topics regularly for the morning news. Where does Colby see her financial life in five years and what’s her secret to saving money? Read Colby’s candid responses below and get inspired by this amazing diva!
1. Describe your financial life in a few words.
Breaking in an amazing pair of heels.
2. Look inside your wallet. What do you see?
A New Jersey license (I can’t let go of my roots), a Wellness rewards card (I’m one for the discounts), stamps, over 20 business cards (in the news industry, contacts are indispensable), my personal AMEX, a pay check I can’t wait to cash, a receipt for my preferred dry-cleaner and another for a seamstress.
3. Name a time that your emergency funds saved your butt.
I’m a recent college grad and have been freelancing all over New Orleans to build a resume; I was hired by the CBS station in NOLA as an associate producer weeks before graduation. Before that, I was working without pay as an anchor and reporter. All that work led me to full time employment; I have my dream job at 22 years old. Thankfully, I had the support of family and friends to ‘save my butt’. So really, sacrificing paid jobs saved my future ‘butt’-the one that I’m sitting comfortably on now.
4. What’s your greatest financial accomplishment to date?
As I said, I was signed up for fulltime employment weeks before I graduated college. To be a candidate, is a remarkable accomplishment. To be hired immediately, well, that’s an enormous financial accomplishment. Now, I’m starting to take care of myself. It’s extraordinary.
5. Which of the 5D’s (death, divorce, disability, disaster, debt) do you think is hardest to prepare for?
Disaster. My city, New Orleans, is a city that is constantly a victim of disaster but we are resilient. I’ve seen the rebirth of the Crescent City since Katrina. I’ve felt the dedication and intense passion here. Yet, like many residents, I fear that the past will return and the promises of the future will disappear. But we will, as they say, “keep on, keepin’ on.”
6. Name something you couldn’t afford but bought anyway. Do you have any regrets?
A Tahari suit, a very, very nice one. Priceless is an understatement. Professionalism is my top priority so I wear suits, blazers and heels everywhere, even Sunday brunch—no exceptions. This particular suit was rather expensive but I have no regrets. None.
7. Who do you feel most comfortable talking with about your finances?
My family of course but, I learn by experience. For the morning news, I’ve been writing stories about money, unemployment, 401-K plans (this list goes on) and so I receive financial advice as I write about the state of the economy and individual stories I gain the knowledge I need.
8. If you could go back in time, what financial advice would you tell the “younger you?”
You sacrificed a lot but you did it right. I’m proud of you for sticking it out. (:
9. Name a decision you’ve made that has changed your financial life for the better.
Not eating out. Local cuisine is astounding here in N.O. but something’s gotta give.. and it’s not my paycheck. I’ll go to the grocery store and grow my own veggies—the money I save is tremendous.
10. Where do you hope to see your financial life in five years?
I’m a dreamer. I’m motivated beyond reason and my career is backed by so much passion that I am incapable of articulating it. In five years (I’ll be 28) I’ll be on my way to the top. I’ll be financially independent before that. My goal is to have the financial security to start a family at that age and build the foundations of the family I’ve been dreaming of my whole life.