December 30, 2016
7/9/15
My Financial Journey
I grew up with parents who were raised during the Great Depression. I grew up knowing how to be frugal. My step-dad fixed things if they broke. But not so they were good as new. He did just enough so it would work again. Things looked very patched together.
I love being a grown-up and being in a relationship with Mike! He fixes things but they are as good as new. Not half-assed and patched together.
The usual refrain from my parents when I was growing up and wanted something was, "We can't afford it". That seems to have given me a poverty mentality. I think it is good to have that up to a point. But even when I was very comfortable and secure in my financial life I always felt poor.
Even though my mom said we couldn't afford things she always had something new. I guess we couldn't afford things because she spent so much on herself. Talk about mixed messages.
I never learned good money management skill. My allowance I got every week but Mom put into an envelope in her dresser drawer in her locked bedroom. I had to ask for and justify any money I wanted out of my envelope. I never understood the idea of saving for myself.
Later when I started babysitting for money I wasn't very wise. but I didn't have much opportunity to spend the money. I babysat a lot during high school so I always had cash for stuff. But I didn't drive so I had no real place to spend it. but I still didn't have any money.
After I graduated high school I had a job at Taco Bell. Lots of hours and lots of money.
I moved out from my parent's house 3 days after I turned 18. I moved in with my sister. My rent was only $100.00 a month , My car was paid off I had my car insurance paid for I still spent most of my money.
Then I moved into my friend's apartment with her. I had a hard time learning grown-up money skills. I had a hard time doing ATM deposit. I got overdrawn and my boyfriend, later my husband, had to bail me out a few times. He kept a running tab for me. He had weird ideas about money, too. He kept up that tab for the next few years until we got married. I think I owed him a couple thousand dollars when we got married. But since we were married he let me off the hook of paying him back.
I worked after we got married until I had babies. My husband at the time earned a good living and combined with my retail pay I still had the "we are broke" mindset. That combined with the spending I learned from my mom was not really a healthy money relationship. When I started staying home with the kids I took over the paying of bills and budgeting. We were not very disciplined. We would get into debt, sell stock or dip into retirement to pay the credit cards off then charge them up again. At least 5 times. I am glad we were able to pay off the debt so easily. but I wish we had managed to control our spending.
After my divorce I was working the school cafeteria and getting child and spousal support. I got a bunch of stock and 1/2 of his retirement account. I was also going to school so I was getting student loans. I was really stupid.
I never even finished school and have about $10,000 in debt to show for it.
We sent Stephanie to a boarding school in AZ. Tuition was $6000 a month. I wish I had been able to tell my ex that I did NOT have $3000 a month for it. It was well worth it but but I was in over $15,000 of CC debt because of it.
I called The Consumer Credit Counseling Center, CCCS. They were awesome and helped me get out of debt. They called my CC companies and got my interest rate to zero then worked out a payment plan of $258 a month for 5 years to pay off my cards. I worked 2 jobs, sometimes 58 hours a week to get it paid off. April 2014 I was paid off. No credit cards have been acquired. I still have about $15,000 in student loans but I am working on paying them off now.
I am now able to reign in my spending. Mostly. I still spend but I try to be wiser. I have had to learn to spend on what is important and try to not be frivolous.
I am now looking for another job so I can get more hours and a higher pay. If I get the job I think I want I will work fewer hours and get a higher pay.
Plus I am wanting to do more earning online. Maybe blogging. Ideally I can get to where I can only work from home and not have to work for someone else. That way Mike and I could possibly get an RV to travel around in and go where we want as long as we have WiFi. We can earn wherever we are. That would be awesome!
I never learned good money management skill. My allowance I got every week but Mom put into an envelope in her dresser drawer in her locked bedroom. I had to ask for and justify any money I wanted out of my envelope. I never understood the idea of saving for myself.
Later when I started babysitting for money I wasn't very wise. but I didn't have much opportunity to spend the money. I babysat a lot during high school so I always had cash for stuff. But I didn't drive so I had no real place to spend it. but I still didn't have any money.
After I graduated high school I had a job at Taco Bell. Lots of hours and lots of money.
I moved out from my parent's house 3 days after I turned 18. I moved in with my sister. My rent was only $100.00 a month , My car was paid off I had my car insurance paid for I still spent most of my money.
Then I moved into my friend's apartment with her. I had a hard time learning grown-up money skills. I had a hard time doing ATM deposit. I got overdrawn and my boyfriend, later my husband, had to bail me out a few times. He kept a running tab for me. He had weird ideas about money, too. He kept up that tab for the next few years until we got married. I think I owed him a couple thousand dollars when we got married. But since we were married he let me off the hook of paying him back.
I worked after we got married until I had babies. My husband at the time earned a good living and combined with my retail pay I still had the "we are broke" mindset. That combined with the spending I learned from my mom was not really a healthy money relationship. When I started staying home with the kids I took over the paying of bills and budgeting. We were not very disciplined. We would get into debt, sell stock or dip into retirement to pay the credit cards off then charge them up again. At least 5 times. I am glad we were able to pay off the debt so easily. but I wish we had managed to control our spending.
After my divorce I was working the school cafeteria and getting child and spousal support. I got a bunch of stock and 1/2 of his retirement account. I was also going to school so I was getting student loans. I was really stupid.
I never even finished school and have about $10,000 in debt to show for it.
We sent Stephanie to a boarding school in AZ. Tuition was $6000 a month. I wish I had been able to tell my ex that I did NOT have $3000 a month for it. It was well worth it but but I was in over $15,000 of CC debt because of it.
I called The Consumer Credit Counseling Center, CCCS. They were awesome and helped me get out of debt. They called my CC companies and got my interest rate to zero then worked out a payment plan of $258 a month for 5 years to pay off my cards. I worked 2 jobs, sometimes 58 hours a week to get it paid off. April 2014 I was paid off. No credit cards have been acquired. I still have about $15,000 in student loans but I am working on paying them off now.
I am now able to reign in my spending. Mostly. I still spend but I try to be wiser. I have had to learn to spend on what is important and try to not be frivolous.
I am now looking for another job so I can get more hours and a higher pay. If I get the job I think I want I will work fewer hours and get a higher pay.
Plus I am wanting to do more earning online. Maybe blogging. Ideally I can get to where I can only work from home and not have to work for someone else. That way Mike and I could possibly get an RV to travel around in and go where we want as long as we have WiFi. We can earn wherever we are. That would be awesome!
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