Meet our Buds: Gab Monardo

Name: Gab Monardo 

Age: 21‍

Occupation: Ops Manager at Blossom‍

Location: Sydney

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Do you have a saving or investing mindset? Describe your style. 

At this stage, they’re one and the same for me. I invest all of my “savings” (some in super liquid, lower risk investments for easy access), so the aim is always to save, and then invest, as much as possible. 
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As for saving/investing habits, I like to invest at the start of my pay cycle, so it’s prioritised, and also like tracking my spending. Find it very fun to understand what percentage of my income is going to dinners/transport/exercise/travel etc. 

Do you invest actively? Why or why not? If so, what is your approach in a nutshell? What level of risk are you comfortable with? 

I invest frequently, and mostly passively. As for why, it’s a fun challenge for me - there’s always something to learn, and of course hope to see some longer term pay-off.   
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As for risk profile, I’m down for anything in moderation – 50% of my portfolio is high risk, and the rest is moderate. At this point, I try not to worry too much about the returns (within reason). It may sound strange, but the act of investing in itself is a win for me. Sometimes it takes losing a little to learn a lot - and the learning is the priority for me at this age.
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My thoughts are, a loss now likely won’t be critical in the long run, but the lessons and habits I learn will hopefully pay off. In saying that, staying net positive is obviously nice haha. 

What are some of the money lessons/mistakes you have learned so far? Any milestones/successes you would like to share? 

As for money lessons, probably just that investing doesn’t need to be that deep/complex. Was a big misconception I had when I was starting. My best investments have been simple – I used a product/service and/or loved the company, saw others did too and invested in it. A good example is AAPL - I loved and used the products, saw everyone around me did too, and didn’t think that was going to change anytime soon. It was my first larger investment and it’s done well. 

What is one of your short-term money goals? 

I have a short-term savings goal which I track through Blossom – so my goal  is to reach that by the end of the year. Having my savings in Blossom and separate to my bank account makes a difference for me in terms of tracking my saving goals. If I ever do need to withdraw from Blossom, there’s an extra layer of guilt that makes me question my spending choices haha. 

What are you most likely to splurge on? 

I’m not the type to splurge on a single item per say but am a big fan of some unnecessary spending for the soul. i.e. $10 matchas, bulk ordering kombucha, negroni’s, books that will sit untouched on my shelf for a long time etc. 

Any resources that have helped you with your money - i.e., books, apps, websites, podcasts? 

I loved podcasts when I was first getting started – Get Started Investing and YIGC were some favs. At the moment, I’m lucky to have lots of financial chatter happening around me, so I’m not sourcing out so much financial content these days, other than keeping up with what’s happening in the news. 

Any investments outside of Blossom? 

Stocks, crypto and startups. 

Who is your biggest money role model? 

Tough question! Not sure I have a money role model as such. I’m a big fan of lots of people who have seen success from pursuing ideas/interests/passions. The list is broad – it ranges from Steph Claire Smith and Laura Henshaw to Seth Rogen.  

What’s the best piece of financial advice you’ve been given? Or one piece of financial advice you’d give your younger self? 

Best piece of financial advice I was given was to start young and start small. Apps like Blossom make this so easy. Also, to invest a bit of every single paycheck as soon as you get it.  

And what’s the ultimate money goal you’re working towards? 

A home in Sydney, close to the beach. 

What is something you wouldn’t want your in-laws to know about you? 

Hmm, probably that disaster ensues every time I eat in a light-coloured shirt. Always spilling. 

Disclaimer

This is not investment advice, just our effort to open the conversation surrounding money. Our interviewees opinions are based on their personal experiences with money, and do not necessarily reflect the opinions of BlossomApp. As always, please do your own research and make your own decisions. For more info on Blossom, check out the PDS, TMD & FAQs at www.blossomapp.com