My name is Brian Meiggs and I live in Washington, D.C. with my dog, Rocky (below). I launched Millennial Money Guide in January of 2016 in order to share my experience and knowledge in finance and entrepreneurship. In addition to being a millennial money blogger, I work full-time as an Accountant in downtown D.C. I enjoy fitness, traveling, sports, minimalism, crossing items off my bucket list and spending time with close friends and family.
Growing up, I also was always very resourceful. I used my resources to my advantage and always seemed to find ways to make money with relative ease. For example, I managed to make thousands of dollars just by flipping iPhones. That didn’t seem like a viable career so I went off to study Finance at Virginia Commonwealth University.
In my upper level Finance classes, I was introduced to the wonderful world of financial markets and
the stock market. Things got interesting for me. I eventually started dabbling in the stock market in order and put my education to good use! However, I wasn’t your typical long term set in an IRA and forget it investor, I was in it to make money: QUICK.
I employed a trading strategy that was considered short term swing trading. I would hold positions no longer than a few days and trade on momentum and votaliity. I thought to myself, I’m still young enough and I’m willing to risk $x.xx amount of money to make $x.xx. Also, I was able to fund my trading using the money I earned from my internship at SunTrust. However, there were times where I went all on when an opportunity arose. I managed to buy Nokia ($NOK), days before it was announced it was merging with Microsoft. The markets liked this news and the stock rose and I made over $8,000 in just a few days. Things were good. I remember walking into my finance courses with a smug smile and would brag to my buddies about my trading strategies and what methods I used. College was great.
Fast forward to post-graduation. I had a few job offers, but managed to accept one in Washington, D.C. area where I was born and raised. I graduated with $30,000 in student loan debt which was… alarming.
I became really frugal those months after graduation. With the purpose of paying off my debt and start building a positive net worth. I spent a few days figuring out what expenses I am able to cut (netflix, streaming services, etc) and how to minimize spending. I formulated and created a STRICT budget in which I can save money and those savings went towards paying off my student loans.
Along with the bi-weekly payments coming in from my salary banking job, I developed multiple streams of income by continuing dabbling in the stock market and different side hustles. I managed to pay off $30,000 of student loans in just 12 months after graduating college.
The biggest factor in battling debt was ultimately paying more than the monthly minimum. At times, I would be making $1000 or up to $4000 lump sum payments when the minimum was only $300! Got a bonus check? The entire amount went towards paying down those pesky student loans.
I still recall the feeling I felt when I made that very last student loan payment. After paying off $30,000 in student loans, I created this site, Millennial Money Guide, as a resource for millennials to come and learn about money. I also like to share some of my personal experiences with money, entrepreneurship, side hustles, and many other topics related to money.
You heard my story as it relates to money. Now I want to learn about yours, beyond the statistics and the generalized essays about millennials. I created a series called #MeetMillennials where Millennials all over the country and share their experience with money. You can read their stories here. Want to share yourstory?
I’m excited about what the future holds for Millennial Money Guide. Feel free to use MMG and my story as a tool, resource, and inspiration. You can really improve your financial IQ, and I really hope you do! You don’t have to be financially screwed by student loan debt and consumer debt just because you are a Millennial. Start today, by looking through the guides.