Hi there, I am Frugal Money Asian, FMA.
I am a new immigrant from Korea and I currently based in Vancouver, Canada. I focus on frugal living and saving/investing money. I have managed to save 60% of my income!
I was born and raised in Incheon, Korea. Incheon is a South Korean city bordering the capital of Seoul, has long been a transportation hub. You might have heard ‘Incheon Airport’ which is one of the largest and busiest airports in Asia. Growing up, my dad had a successful business and my family lived quite a luxury lifestyle. Then there was an Asian financial crisis in 1997, and all of sudden, my dad went bankrupt and we lost everything financially.
Looking back, I feel very fortunate that I went through financial difficulties in my early years. I naturally was able to learn about money and how to live frugally.
Why I moved to Canada
I used to work at one of the big 5 companies in Korea. I made a good amount of money, and no longer had financial problems; however, I was kind of sick and tired of working like a slave. I used to work from 7 am to 7 pm, and commute 3 hours to work every day.
I had dreamed about living abroad somewhere it’s totally different from my country. Finally, I decided to move to Canada for a change. Also, I even brought my wife J to Canada (girlfriend at that time). I know I was kind of reckless; however, it was one of the best choices that I have ever made.
I was applying for all the jobs that I had seen, but I only got offered from small restaurants as a cook. My income almost got halved when I first got a job in Canada, so I needed to focus more on frugal living. I started tracking my monthly expenses and net worth. This small change allowed me to cut down my expenses a lot.
Also, I came across the ‘Financial Independence Retire Early’ movement. I had never thought about early retirement before, I thought retirement is something for those who are over 65 or billionaires. My perspective on money has changed dramatically.
Looking back, my first two years in Canada were the best time to learn more about money.
Why I Started Blogging
I have seen many people who are suffering financial problems especially new immigrants. They tend to focus on making more money rather than how to save or invest. I had a chance to talk with my friend who is from Korea about his financial situation. I got pretty shocked at the fact that he lives paycheque to paycheque even though he even makes more money than me.
We both took a look at his monthly spending and noticed he paid too much on everything such as rent, phone, internet plans, etc. I helped him to negotiate with his current phone and internet providers right away and we were able to cut down his expenses a lot! That’s when I came to think that I should start a finance blog for those who are not careful about their hard-earned money.
Welcome to My Blog! I will post useful tips that you can apply to your day-to-day life. I will specifically talk about saving tips, Index Fund, Gold, Silver and Cryptocurrency.