Money Milestones For Children And Young Adults

How soon is too soon to learn about managing money?

A few months ago I learned some alarming facts about debt and money management.

According to NerdWallet’s 2017 American Household Credit Card Debt Study, the average American household with credit card debt has a balance of approximately $15,432.

Indebted households pay hundreds in interest each year, and many Americans use credit cards to cover medical expenses.

Nearly 1 in 10 of those earning more than six figures annually said they struggled to make ends meet.

We need to have a conversation about moneyContinue reading “Money Milestones For Children And Young Adults”

How Do You Feel About Money?

Is it right to want to be rich?

Since I started this blog a few weeks ago, I’ve been asking friends and family to share their perspectives on wealth, personal finance, and money. When you were younger, what did you learn about money?

How do you feel about money?

Like most broke people, I hate money. From a historical standpoint, money was basically just made up.

What were you taught about wealth and money when you were younger?

Nothing: Go to school. Get a good job.

What do you wish you knew about money when you were younger?

I wish there was more emphasis on saving money. I don’t know if I would’ve ever listened. There are certain concepts I wish I knew earlier because a lot of things are time-based. I wish had learned better business sense too.  Continue reading “How Do You Feel About Money?”

How Do You Feel About Being Rich?

How much is too much?

Since I started this blog a few weeks ago, I’ve been asking friends and family to share their perspectives on wealth, personal finance, and money. When you were younger, what did you learn about what it meant to be rich or poor?

How do you feel about money?

It’s just a thing that’s needed to live within the current society. It’s neither evil nor good; it’s just a tool, and people use it for their own devices.

Should billionaires (or millionaires) exist? Is it right to aspire to be a billionaire (i.e. rich)?

I don’t see any moral or ethical issues with billionaires/millionaires existing because they are not all inherently bad or good. It’s their actions that reflect who they are as people. We have people like Bill Gates who donate a lot of money to many good causes, and then we have people like Trump who are just in it for the money/power.

We can’t even blame it on our capitalistic society because even economically socialist countries like Sweden have Ikea and Spotify, whose leaders make millions of dollars. That said though, there shouldn’t be preferable treatment towards these individuals, but there is, and we have to change that norm.

I think the proper idea to have is to be financially free.  Continue reading “How Do You Feel About Being Rich?”

7 Questions You Must Answer Before You Can Eliminate Credit Card Debt

Let’s hold each other accountable!

Yesterday I read a post from NerdWallet’s 2017 American Household Credit Card Debt Study stating that the average American household with credit card debt has a balance of approximately $15,432.

Indebted households pay hundreds in interest each year, and many Americans use credit cards to cover medical expenses.

I am sensitive about my credit card debt because not all of it belongs to me; but as the cardholder, I understand that I am responsible for it.

Since this January 2018, I’ve paid off about $10,000!

If I continue to be successful, this December 2018 I hope to report that I’m completely credit card debt free. Hold me accountable!

I’m learning as much as I can about personal finance, money management, and investing.

If you’re finally able to pay down unwanted debt, please answer these questions first.  Continue reading “7 Questions You Must Answer Before You Can Eliminate Credit Card Debt”

5 Things To Consider Once You Commit To Eliminating Debt

What do you have? What do you need?

I used to sell life insurance in one of those thinly veiled pyramid schemes.

To be fair, I didn’t know what a pyramid scheme was at the time.

To be completely transparent, I never actually sold any insurance.

Way back then, I was too young and too green to be embarrassed about it.

I kept hope alive that that opportunity would work out for me in the end.

It didn’t.

I’d wanted another job on the side, but I hadn’t completely committed to getting rid of my debt.

To date, I have (1) credit card debt + (2) a car note + (3) and student loans.
Since I’ll be paying student loans off forever, I’m pretending that I’ll be “debt free” once #1 and #2 are done.

Don’t judge me.  Continue reading “5 Things To Consider Once You Commit To Eliminating Debt”