Community Q & A: Jodie Lam

Welcome back for another instalment of Bamboo Community Q&A - dedicated to the amazing people that Bamboo brings together. This series shares the story, experiences and insight of our users in relation to the one passion we all have in common, crypto.

This week we have a chat to Jodie Lam who is a twenty four year old digital analyst from Sydney who is "trying to win at adulting." Brokefromboba is an outlet to share her journey to the ultimate goal of living the life she wants without being constrained by money. A great premise for any great story really, read on...

Tell us a bit about yourself! 
My names Jodie Lam I'm a Digital Analyst from Sydney.

Do you have other income sources outside your job?
Building out additional sources of income has been a goal of mine for the past few months. I am still in the early stages, so the amount and frequency is unstable and varies. Some of the income streams I have been trying to build include:

1. Brand Partnerships: I became a digital content creator for my instagram blog @brokefromboba last year. Through this blog, I have been able to collaborate with brands and create content with them, and have earned around a hundred so far.
2. Market Research: I've signed up to some platforms where I can participate in market research surveys and interviews. The amount varies but I have been earning around a hundred a month.
3. Dividends: Some of my share investments provide some dividends throughout the year. I made around $700 last year, but the payout varies depending on company performance. "
4. Affiliates: Some of the products I personally use have an affiliate code/link that I can share. I share this on my blog and when someone signs up to that product, we both get a reward. I admit I don't really keep track of this, but I would say I get at least $20 a month in rewards (through free brokerage or cash payout).
5. Digital Products: I've created a digital product on Etsy which has made some sales. This isn't something I have promoted yet, so I've only made around $10 in sales. This was mostly an experiment so I'm hoping to build my Etsy store further this year!
6. Bank Interest: I leave my savings in a high interest bank account, where the bank will pay me around 1-2% interest on my account balance every month. I make less than $50 a month in bank interest.

What was your first Crypto investment?
My first ever cryptocurrency investment was Bitcoin!

Nice! What made you choose BTC?
I admit it was mostly because of the hype around cryptocurrency, and I didn't want to miss out! I chose Bitcoin because it was the biggest and most well known token, and I understood the practical use case.

Has that been your best crypto investment? If not what has...
To be honest, all my crypto investments are giving me negative returns at the moment (they were very positive a few months ago though haha)! For me, my best performing crypto is Binance Coin.

What has been your worst crypto investment?
Solana is currently my worst performing crypto investment, with a -50.95% return. That being said, with all my investments, I only put in as much as I can afford to lose, and these investments are for the long term. Even if they're not doing well now, I do see their potential and I anticipate better returns in the long term.

What advice would you give to your younger self about investing? 
Build up your financial literacy and start! Time is your best friend when it comes to investing, so the earlier you start, the better your potential returns!

Great advice. What prompted you to start your investing journey? 
Interest rates were at record lows when I first started investing, so the interest from high interest bank accounts was barely above inflation. I wanted to build my wealth faster, and to also build a source of passive income. This prompted me to educate myself and to start my investing journey in the share market, and then diversifying into crypto.

Is there anything you would have done differently when you first started investing in crypto?
I'm glad I invested into crypto as it made me more interested in how it worked and its potential. If I could've done something differently, it would've been to do more research into crypto investment platforms, particularly its fees and features, to ensure I am choosing a tool that is cost effective and aligns to my investing goals.

Thanks so much for taking the time to chat Jodie, where can people follow you?
My Instagram is Broke from Boba

Thanks for reading on today folks, until next time au revoir!