Six Questions About Money: An Interview with Lanae Paaverud, the Social Networking Nanny

Lanae PaaverudWelcome to Six Questions! It is a new feature where we’ll ask different people from various walks of life the same six questions. I expect that each person will bring something unique to a standard set of questions. Today’s guest is Lanae Paaverud. I’ll let Lanae introduce herself momentarily.

As you read through this Six Questions interview and all the previous interviews, I hope your thinking is sparked. That as you hear  new and different perspectives you will be prodded to think about your own relationship to money.  The views of our guest do not  necessarily  reflect the views of Pocket Your Dollars.com or its staff, but are a springboard for thought and respectful discussion.

If you’d like to be featured in a Six Questions column, email me to express interest.

Now to Lanae…

Introduce yourself in 75 words or less

Hi, my name is Lanae Paaverud. I’m a wife, mom & entrepreneur. Our three children are only 1  ½ years apart, so we have had financial challenges over the years, especially with me being a stay-at-home-Mom for most of those years. I’ve always been a price-watcher & couponer, but also creative in cutting costs, including trying to make my own Pop Tarts (didn’t work) and having a Fun Jar for loose change (works great). (PocketYourDollars here: this is the same Lanae that inspired this “Six Questions About Money”  feature, like I said when I answered these Six Questions)

What money issue are you dealing with in your life right now

Our biggest financial challenge the last few years is paying for our children’s’ college.   We had one cross-over year when our son was a Senior in college, our girls were Freshman, and my husband was in Graduate school.   It takes planning ahead, extra careful consideration on other large purchases, not ignoring the little things (that add up quickly) and keeping an eye on the finish line…just one year left

One thing you learned about money while growing up that has stuck with you into adulthood

Don’t spend more than you have; never carry a balance on your credit cards; don’t consider items to be clearance unless it’s at least 50% off; garage sales and estates sales shopping. (PocketYourDollars here: that  Ã‚  sounds like four things, but we’ll let it slide) :)

One thing you didn’t learn at home about money, but wish you had

I wish I had learned how to invest. I had a second chance to learn about it with an accounting job I had at an investment firm in Denver, when we were first married. I was very intrigued working the numbers on the accounts, but never took the next step to learn the how-to’s of investing.

Name your favorite money tool, resource or book?

Combination of calculator, checking account, husband and my gut. Any major purchase for our home includes a detailed discussion: what are the buying options; is there a payment option with no interest; is it a need or a want; is it a good investment; have we satisfactorily comparison shopped; etc.

What’s one piece of money advice you wish every American would follow?

Plan ahead, as much as you can, for the what-if’s in life. We never know what will happen from day to day, week to week, that can shake us financially. Having a reserve for regular payments (house, car), food and necessities not only helps get families through a crisis, it also helps relieve the extra stress during those times.

If you’d like to connect with Lanae you can follow @SocialNetNanny on Twitter or Facebook  or check out her retail site Old World Limited.

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It’s PocketYourDollars again wondering how you can relate to these six answers to our six questions.