As most of you who are regular readers know, I will soon be launching the Well Kept Wallet podcast where I will interview people who love what they do for a living. To give you a taste of the questions I will be asking in the podcast, here is an interview that I did with Andrew Schrage, the co-founder of MoneyCrashers.com. Unfortunately, he wasn’t available to do the interview for the podcast, however, I was able to ask him the questions and get his answers via email. Without further delay, here is the interview.
Tell us a little bit about yourself Andrew. Where are you from? What you do? Etc.
I was born and raised in Boston, Massachusetts. I was educated at Brown University and I launched Money Crashers, a personal finance website, in 2008. Money Crashers is a website dedicated to educating its readers on ways to better manage their finances. It includes articles and resources on a variety of finance-related topics, including saving more money, investing for retirement, creating an emergency fund, and avoiding credit card debt.
What does your average day look like?
As you might expect with a startup, I wear many buts, but lately I’ve been able to focus a lot more of my efforts on marketing our brand. These days, I spend a lot of time on general marketing opportunities and social media. We are active on Facebook and Twitter, and looking to expand our presence on Google Plus. We’re also taking a look at some of the other rising social media platforms, such as Pinterest and Instagram.
What is an interesting fact about you?
I am a huge ice hockey fan and long-time player. I’ve played it all my life, and I closely follow the NHL.
How long did it take for you to start making a livable wage with MoneyCrashers.com?
I was able to walk away from my day job and rely solely on the revenue from Money Crashers after about two years.
What is the hardest part about what you do?
One of the hardest things about my business is managing the accounting. I can complete all tasks competently, it just takes a lot more time than I ever envisioned.
Do you love what you do? Why?
I love what I do. Small business ownership presents the opportunity to be your own boss, set your own hours, and work in a field that you’re passionate about. It was especially hard work in the beginning, but now I’m definitely enjoying the benefits.
Did you have a job that you didn’t like at one point? What was that like?
Right after graduation, I took a position at an investment fund in Chicago. I soon realized that the corporate world just wasn’t for me. Too many politics. I was frustrated and restless. That was one of the main motivations behind my getting into the world of entrepreneurship.
How did you get from doing something you didn’t enjoy to where you are today?
I launched Money Crashers in my spare time by organizing my personal life so I had more time to devote to my new venture. I worked my tail off in the beginning and was eventually able to leave my corporate career.
Was there a person who was influential in helping you get where you are today?
My dad was one person who was always there for me during my transition. He kept me motivated, answered many of my questions, and was influential in the path I chose.
Is there a book that you would recommend for people who would be interested in doing what you do?
One of the best books for those interested in getting involved in small business ownership is called “The E-Myth Revisited: Why Most Small Businesses Don’t Work and What To Do About It” by Michael Gerber.
What other tips do you have to help people searching for a job that they love?
Identify your passion and look for a career involving something that you truly love doing. Expand your network to include professionals from that field. Be patient and develop your relationships. Eventually an opportunity will come your way.
What is your latest project that you are working on?
Most of what I’m working on now involves expanding the social media presence of our brand.
How can people get in touch with you?
You can get in touch directly through our contact page: http://www.moneycrashers.com/
Save Money Using a Robot
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There is a free tool called Trim which will cancel your unused subscriptions, find you cash back, and renegotiate your bills for you. All you do is sign up, connect an account and their robotic assistant will email you ways that you can save money.