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My quick money story. Everybody has one, right? Some people are born into money, some are not. Some people make a fantastic income and still struggle to pay their bills. Others make an average income and live comfortably within their means. Not many people talk about money. It's a secret. It now comes and goes in several icons on our devilish palm-sized devices (see my love hate relationship with my phone here). Anyway, my money story goes something like this: - average childhood, that's my parents' story to tell, but I never really felt STRESSED about money as a child and I was taught some good sound financial principles (thanks Mom & Dad) -got into > 40k in debt in my 20's by living above my means, keeping up with the Joneses and making poor financial decisions -spent 4 years of my 30's GETTING OUT OF DEBT which looked like paying $1000 /month towards old credit card debt FOR FOUR YEARS STRAIGHT (ouch!) -now I am in my 40's and focused on saving for retirement, paying our house off, and avoiding unnecessary debts I say all of that to say: I am not certified in anything financial. I have read some books and followed some financial influencers over the years, and I am very entrenched in our family's finances. I am also learning from my retired parents about what it will actually look like to live on a retirement income. I am familiar with Medicare, pensions, social security benefits, Roth IRAs, and 401k/403b plans. I am not a day trader or financial wizard. I'm somewhere in the middle, and I think that is probably where most of my readers are too. I have had to have very frank discussions about money with patients over the years (financial stress can GREATLY affect one's health and cause caregiver strain with children of elderly patients). So I decided to write about it. Part of my passion for writing is speaking the truth and shedding light on everything that is making us all stressed and uncomfortable. Now that you know my purpose for this piece, are you ready??? Let's do this! My 10 smart money tips for anyone, anywhere:
Let's go through each Money Tip in more detail so that we have a better understanding of them.
PRO TIP: The pictures below are just an example of using my banking app to monitor my spending. You can see the pie chart is for ALL of my 2021 spending. Since I don't have a car payment, I divided my auto expenses by 12. That came to around $392. Since I know car insurance makes up around $200 of the $392, I calculated that I am spending around $172 / month on gas. This is just an easy example of using your banking app to see what you are ACTUALLY spending on categories in your budget. What you think you spend and what you actually spend are often 2 very different amounts. So do your research! It costs you nothing to look at your spending and it will give you so much insight to your financial health! I did not write this post to provoke guilt or shame about your spending or finances. I have had 40k+ in debt and I have felt that overwhelming burden. It's just part of my story, and I am no longer ashamed of it.
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What does it take to run a household or a life? Why are there so many memes and jokes about "adulting?" Aren't there things we all do every week or are we just wandering through life constantly trying to remember what it is we were supposed to do? It's taken me years and tears, but I finally developed a few systems to decrease my overwhelm. Here is my own personal list of weekly tasks. I don't do these every week, BUT having a list gives me somewhere to start.
I love a good checklist. Give me a task and I will try to complete it. That said, the list above has some nuances and caveats that are worth mentioning to a novice attempting to "get my life together." I did not make that list overnight, AND some of the steps may or may not apply to you. So let's dig deeper!
I know that was a lot of words to describe what sounds like it would be a simple process. It's not simple though, is it? If it were simple, we would all be doing it and no bill would ever be late, no appointment would ever be missed, and no child would ever go to school without their $5 field trip money that was due yesterday. And so I wrote it all down. I still miss things. I don't do this every week, because LIFE. Perfect is a cruel joke and not that fun anyway. So just do what you can and maybe at least one of these tips will bring you a little peace and a little more free time in the end to do what you were called to do. ☀️ I posted this on Instagram in December 2018, so this shows I have been using a weekly review process for years. I like to follow authentic people and my readers might feel the same way. ☀️ Also, in my experience, I can't write or talk about what I don't know about. My 9-year-old though? He can tell the tallest tale you've ever heard! 😜 |