{Image found here - which actually has some good financial advice}
Generation Y has more debt than any generation before us. Tuition fees are higher than ever before and the average 20-something is graduating from college with $20,000 + in student loans and other debt and credit card debt is a major problem too.
According to this article on MSN, generation Y is more educated than any other generation. So why aren’t we smart enough to stay out of debt?
Check out these statistics from the article:
- The median credit-card debt of low- and middle-income people aged 18 to 34 is $8,200.
- The average college debt for recent grads is more than $20,000 and rising.
- People between the ages of 25 and 34 make up 22.7% of all U.S. bankruptcies (but just 14% of the population at large), according to a recent report.
The article goes on to say that we are a generation that grew up with parents coddling us, credit cards and technological advances.
“We’re in a generation that was kind of shielded from a lot of financial responsibilities. Twenty years ago, when you were in college you didn’t have a credit card, and (now) all of a sudden we had to take on debt to go to college.”
He adds that people in their 20s and 30s grew up in an age of unprecedented technological advancements — a factor that has affected their views of the future.
“This generation feels that somehow or another they’re going to figure out some technological advancement that’s going to get them out of their financial troubles and outsmart the market.”
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Reading that article I kept thinking about how I fit into that category so well: coddling parents, technological advances all around me, two credit cards. The only place I don’t fit in is having thousands of dollars of debt.
A lot of people (who I’ve met) that are good with money credit it to growing up poor and learning to pinch penny’s. I didn’t grow up poor, though. I had a new wardrobe from the Gap every fall, a 2-week beach vacation every summer, a car bought for me when I was 16 and my college tuition paid in full. I’m not trying to seem like a snotty, spoiled brat (even though I really was a spoiled brat at times) I just want to make the point that just because someone was spoiled and coddled by their parents it’s not an excuse to be bad with money!
After writing this post I got a few emails asking me how I save money. So here are my answers:
1. I work. A lot. Currently I have three part-time jobs and I do freelance work on the side. I’ve never been unemployed for longer than 3 months since I was 14.
2. I rarely use my credit card and when I do I pay it off right away. It’s as simple as that, if I don’t have the cash to pay for something I don’t buy it.
3. I refuse to let my savings account get below $1,000. And if I have to use some of my savings for some sort of emergency purchase I don’t let myself spend on anything more then necessities until I’ve built it back up to $1,000.
4. I pay myself first. The first thing I do when I get a paycheque is put some money in my savings account. Whether that’s $25 or $200 (whatever I can afford that week) I make sure I put some money away. Right now I’m putting away every cent I can since I’m saving for Europe!
5. I remind myself that it’ll be worth it. Sure, this Friday night when I stayed sober at a friends birthday party and then dropped them all of at the bar before going home to bed I felt a little bummed that I wasn’t joining them. But you know what, in three months when I’m in Europe enjoying all that extra money I didn’t spend at the bar, I’ll be happy I did it!
So, readers, what are your tips for saving money? And why do you think Generation Y is so deep in debt? What’s your opinion on debt/credit cards in general? Discuss.
{ 43 comments… read them below or add one }
I have a ridiculous amount of student loan debt, but I know it was a good investment so I don’t feel too bad about it. It would honestly be pretty impossible for me to not have debt from school loans - my parents had 5 kids, so paying for our education just wasn’t an option for them unfortunately!
Aside from ‘good debt’ like my student loans & the mortgage for my condo, I don’t have other debt. I have also always paid off credit cards and have saved for my future. I try to find a good balance of saving for the future and enjoying the here and now.
When I was in grad school, I had to take an ethics course and one of our cases was about whether it was unethical for credit card companies to target college students as heavily as they do. It was really interesting. I don’t agree with their tactics, but at the end of the day, it’s the student’s responsibility to spend within their limits. It is sickening to hear how much credit card debt people have!!
Yes, I definitely think student loan debt is a completely different thing! I think student loans and mortgages = good debt because, really, who can save up enough money to just pay cash for a house/condo? Not me!
You raise a really interesting point about credit card companies and how they market to college students. I’ve seen it myself (with them sending me tons of stuff in the mail) and I could totally see how it would be appealing, especially if you’re low on money!!
Amber- you come up with the BEST topics!
I have been thinking about this topic a lot lately, because I have heard some stories lately of people I know who just…don’t pay their bills. period. Until the bill people come to get them. It’s shocking. I mean I know people like that exist, I didn’t know I knew them! Personally I hate debt. The only debt I agree with having at all is a mortgage, student loans (like Lisa said it’s a good investment) and maybe a car payment. That’s it. People should NEVER have credit card debt unless they LITERALLY are living with only necessities and still cannot pay the bills (and no cable/internet is not an necessity- though internet is for me haha). Eric and I debate about this a lot, because in his life people would need say a new…water heater or something and put it on their credit card and then pay it off for a year. But my thought is, if you just saved some of that money each month- you would have money at the end of the year to pay for the water heater and then you wouldn’t have to pay all sorts of interest to credit card companies! Just my thoughts. I use a credit card only to get the rewards, I pay it off within 2-3 days of putting anything on it.
Oh, and as for my thoughts on why our generation is like this. I think part of it is the coddling of parents and I don’t mean parents like yours who gave you a lot. That does not necessarily equal coddling as far as money is concerned. Obviously they also managed to get the point across that you need to earn some money and be responsible with it. Coddling is not an excuse for why college kids/young adults are bad with money, but we should stop coddling kids- for tons of reasons. Another reason is how our parents deal with money. If they teach us how to manage our money properly, save, look for deals etc- we are likely to be that way. If they teach us how to use a credit card to pay for things we can’t afford, then we will. And speaking of things we can’t afford, we think we are entitled to them. The generation before us did not buy things they could not afford. Like you said, sometimes you can’t go out for drinks with friends every single night and then you’ll have money for other things
Wow, my responses to your posts are always way longer than a normal person haha.
I see that happening SO much in life, people “need” something so they immediately go out and buy it but maybe if they actually assessed how much they “need” it - they might not need it so much, you know!
And your right, even though I was spoiled and “coddled” I was also made to save up for purchases that I really wanted and that taught me the importance of having a savings account. I honestly couldn’t imagine NOT having one!
Great topic and hits so close to home. I have student loan debt just like everyone else so def file me in that category… and while you’re at it sign me up for credit card debt too. *Hangs head in shame* Once upon a time I was so good with it, paid it off every month, only used it for emergencies and then I had one, and then another, and then I lost my job and then I basically had to live off of it until I found another one and then… well you see the spiral that went out of control. My credit is shot, no sense tip toeing around it and I’m busting my butt working two jobs doing everything I can to fix it. What’s worse is that it never really mattered to me before, I mean yes I was trying to get it back under control but now that I find myself looking into the future and seeing not just myself in it, I suddenly realize how much I let it all get out of control. I don’t want to bring that black cloud into a marriage someday! So now I’m more focused than ever on getting it cleaned up. I promise you this though, once I get it cleaned up I’m never doing the credit card route again!
Thanks for sharing, lady! I think you make some great points about HOW this kind of debt happens - it just does, so quickly that we can barely even notice it happening! Good for you for working TWO jobs and working your ass off to get yourself out of it. That’s a great attitude and obviously you’ve learned your lesson. It is just such a slippery slope and I think that’s why so many people from Gen-Y have a problem with it!
Oh…you know this is my topic!
I’ve seen so many friends and family go into credit card debt simply because they cannot do without the things they want. From little things like new kitchen gadgets to big ticket items like flat screens and furniture, they reason that if they put it on credit they can worry about it later, and enjoy it now. Then later comes along, and they can’t afford to pay off their debt because they’ve spent their cash on more things they want. No planning ahead = vicious cycle.
I did grow up poor, but that’s only part of why I know how to handle my money. My parents didn’t have a single credit card until after I left for university, which even then they only acquired to use for hotel deposits and online shopping. The whole concept of paying for things with money I didn’t have was completely foreign to me growing up. I started babysitting and cutting grass at 11 to buy my own school clothes (Wal-Mart, baby! Hehe), and by 14 I was working full-time for the summer/part-time after school, buying my first car, and contributing to my household via groceries, bill payments, etc. I really have been a budgeting freak since I was a pre-teen!
I truly believe that no matter what walk of life you come from, having responsibility for earning and managing at least some of your money from an early age goes a long way in training for adulthood.
Yes! Totally!! Even though I was pretty spoiled as a child I was also made to save up for the things I really wanted. I can clearly remember being 14/15 and wanting a snowboard but my parents wouldn’t buy it for me so I saved up for MONTHS to buy my own! I think those little lessons about the importance of saving and working hard for what you want can go a long way!
I’ve not had any debt whatsoever. my parents had been making investments since i was a little kid, so that covered all 4 years. plus my tuition was somewhat lower than others because I went to a school that had a lower tuition for deaf students, but i got the same education as a hearing student did. However, i worked all 4 years at school to pay for school supplies and all that. I never had a credit card until i was 22 years old, when i got my first bill (it was sent to my parents’ house) my mom mailed it off to me with a sticky note saying, pay it off in full. I’ve always paid off my credit card in full each month. I don’t leave a balance. I will however, sometimes get a credit card that has zero interest for 6 or 18 months or something and will pay it off well in advance. it works for me. but i don’t do that often.
the only good debt i have is the mortgage.
my dad balks at the fact that all 3 of his daughters married or are marrying a guy that has school loans to pay off. He does not understand it, he does not think it’s normal. I keep having to explain to him that it is normal! it’s something he refuses to comprehend.
I do use my credit card to pay for everything right now, but it gets paid off in full each month. I have over $6k in emergency funds, though that will drop down to $5k due to having to pay for a new hearing aid (which is setting me back $1800!) =( being deaf is EXPENSIVE. insurance will not cover any hearing aids of sorts, so it’s something I have to pay out of pocket for… it’s quite painful! so i definitely have to watch out with my budget, god forbid anything breaks!
i’m slowly getting my fiance to get a handle on his money issues. He paid off his credit card debt last year. he has school loans to pay off (which feels like he’s going to be paying it off for the next 10 years!). But it will get paid off! he has a weekly allowance of $20….it works so far!
Haha I love that your mom sent you a sticky note on your first credit card bill! Too funny! That’s the same philosophy my mom has instilled in me: PAY IT OFF!
Eric was terrible with money when we first started dating, but he’s getting better and better all the time and even has his own savings account now! I’m so proud. Haha
You guys are awesome- my fiance is not terrible with money, but he doesn’t save- I try to get him to work on it and he claims he has more bills than me so he can’t. Awesome.
Also, I cannot BELIEVE insurance does not cover hearing aides. WHAT?! Do you live in the US or Canada?
I always forget to go back and check other comments!
I live in the US. Let me clarify — under the age of 18, insurance will cover hearing aids. But after that, you’re on your own. it’s not as if I’m going to become hearing all of a sudden, it’s something i was born with. stupid.
you have to make a lot of mistakes before you really know the best way to recover from them. it’s just as true in running as it is in finance. i also had parents who are good with money, and at one time i also had over $42,000 in credit card debt. the entire industry and american economic system is designed against us. companies make more money from debt than they do selling product. that’s the reason the mortgage industry collapsed a few years ago. i could go on…..
having a cash reserve is the first step to beating any kind of debts. i hate debts period. even mortgages. and at one time i had borrowed over $430,000 worth of mortgages. today i own 3 houses, have 5 mortgages, and one credit card that gets paid off every month and one with about a $4000 balance that gets paid down every month. and that’s it.
the one key that I think you might be overlooking is to have multiple income streams. yes you have 3 jobs right now and you’re finishing school. and certainly i have found that making more money is the best way to control your debt. but two of my houses are rented and the profit from that is almost enough to cover the mortgage on the house we live in. and since we’re moving to raleigh, we are going to have to sell all 3 houses to cash out and have a larger down payment for moving into a more expensive real estate market. so i’ll cash out and start all over again once we get moved in here. but having a second stream of income like that is different from a second job - i don’t have to work for those rent checks to come in.
That’s a really good point. I actually think for my first house I’d like to get a duplex or a house with a basement suite. That extra income coming in would be nice and helpful!
debt is such a scary thing. I cannot imagine being in “bad debt”.
I’ve always been a penny pincher. It is something that has been drilled into me from a young age. My mom always told me to make sure that I have enough money to support myself and not depend on anyone else because you never know what may happen in life.
When I chose my college, I picked the one that I REALLY wanted. Even though it was going to cost me more money and I would get less aid. Because of this, I found SO many scholarships which really helped me fund my education and reduce my debt. But, I also had to take out loans which I’m paying back now. It was an amazing investment and I’m glad that I took the loans out because they let me go to Spain and France during college for credit.
Amber, we have the exact same money mentality! I do all of the same things that you do.
My tips:
1. ONLY charge something to your credit card if you have the funds to pay it off that day. This way, you can build up your good credit and not worry about how you will pay off the card in the future.
2. Keep a spreadsheet of all of your bills. This way you know exactly what is due and when you need to pay it. Having a budget is a lifesaver!
Great advice! I recently started keeping track of my receipts and the money I spend in a spreadsheet and it’s very helpful with budgeting!
I had about $12k of debt up until this year through a combination of moving out on my own and buying a BUNCH of furniture, but mostly having been in a detrimental relationship for a long term where I was basically “sucked dry” - the guy mooched off me for everything with promises to pay me back, and then unceremoniously dumped me and ran off to another city without a trace, leaving me entirely responsible for his accumulations of debt. It was my own naivety that was to blame. I was incredibly lucky this year to have my fiance pay it all off with his savings - it’ll mean we’ll be renting for another few years, but I was INCREDIBLY blessed to have him do something so incredible.
That is so sweet of your fiance
Lucky lady!!
We have “good debt”– mortgage, one car note, and my husband’s student loans. Although I HATE them and they make me uncomfortable.
We don’t eat out very often- it helps that I love to cook. We don’t shop “just because” - if I buy new clothes, there is a reason. I rarely buy things full price. We tithe and save. I was raised that if you tithe, God will provide. He has. Sometimes I wonder how the HECK we are going to afford such-and-such…. but He always makes a way.
We use a credit card for gas, groceries, and large items… only because we get “cash back” and we know we’ll pay it off each month.
I have a cash-back credit card too, which I also use for big purchases and then almost immediately pay off!
The only way I seem to be able to save money is if I give myself an allowance. I take $40 out of my paycheck every 2 weeks and try and make it last! It’s REALLY hard sometimes, especially when my friends want to go out.
I think a lot of people see credit cards and student loans as “free money” and don’t realize that you have to pay it back. I always managed to save enough money to pay my tuition without having to take out loans, but I also didn’t have to pay rent.
I think debit and credit cards are a good thing as long as you use them wisely. A lot of people don’t know that maxing out our credit card is really bad for your credit score, and that makes it hard to get big loans, like for a car or mortgage, when you’re older. Debit cards have crazy interest fees if you go over your limit, but so many banks have different plan options, there’s always something that works for you.
That’s actually an awesome point, Kara!!! It’s really important to figure out the plan that works best for YOU on your debit card. I was getting some crazy fees a few months ago so I asked the lady at the bank about them and she was like, “Oh, that’s a mistake, you’re a student” and refunded me the money. It never hurts to ASK! And I’ve heard that people who have crazy high credit card debt can ask companies to lower interest rates, minimum payments etc. and sometimes it works in their benefit.
Yes!
A couple years ago I was setting up a loan for my car and the gal helping me noticed I was paying INSANE system fees (Like, $17 a month!). She changed it right away!
So yeah, you can save money in a lot of places if you just ask! Banks, I find, will only give you deals if you ask them!
I have one small student loan that it’s almost all gone but apart from that I was fortunate enough to have my parents assist me (entirely) with college.
There was a brief period of time of about a year where my credit card debt was a little high by my standards, meaning it was just over $1,000. It’s all gone now and it was a result of me moving and making some rash decisions about needing new furniture. My rule ever since that time has been if I can’t pay for it outright, I’m not buying it. And I don’t. I pay cash/debit things as much as possible.
Each paycheck I receive I put as much as I can into savings, make any necessary bill payments and conserve, conserve, conserve. I also have a 401k that I contribute to on a monthly basis which makes me feel a little better about the future. My current savings plan is to have enough for a down payment and then some as I’d like to purchase a home/townhome in the next year or so!
I do have a lot of friends who live in crazy debt, but not the student loan kind: i’m taking cars, credit cards and etc. It doesn’t make sense to me why someone wants to live so outside of their means. I just can’t quite fathom it.
I see that ALL THE TIME TOO!!!! Big-screen TV’s, 3-4 vehicles between two people, new clothes all the time. It’s ridiculous! That’s the kind of thing my post was directed at, NOT people with student loan debt since I think that’s probably the best kind of debt you can have!
Man, I am one of the spoiled brats :/ My parents are paying for my college in full, I shared my moms car when I turned 16 and was given it when I was 18, and my mom is ALWAYS taking me shopping. I have no idea what debt is or how to save money. Not good! Well, I hope I never know what debt is (and to be honest, I don’t think I ever will since my parents would always ‘lend’ me money) but I really need to learn how to start saving money. I really don’t know how you manage so many jobs and school, that sounds overwhelmingly horrible to me, but I just don’t have the go-go-go personality as I believe you do. Which is great! I wish I did. I have one job that I only work 8ish hours a week and then school, so I don’t make enough right now to be saving. Once I’m finished with school (it’s so close I can smell it!) I hope to find a full time position with a decent salary and then get a part time job as a waitress or something so that the money I make at my part-time job will all in full go into my savings account. That’s the grand plan right now at least
These are such great tips! Debt is so scary. I’m also very lucky because my parents have payed for my education and are supporting me while I don’t have the time to work… I’m crossing my fingers that I will be employed by the end of August!!
I graduated from professional school with less than half the average debt expected at my school…and I paid for everything myself. I’ve been on my own financially since I was 14 and my only debt ever was student loans, and I took my first student loan out during my 6th year of my 8-year degree track. I am currently repaying my loans early - in fact, in one year! I’m simply saving all salary that exceeds my normal salary when I was a student, not changing my lifestyle, and paying my loans off. I’ll save $12,000 over a 20-year repayment plan!
I pulled this situation off by working full time throughout school (and usually I held 3 or 4 jobs), something that others find hard to believe since pharmacy school is demanding. But trust me, it CAN be done, and be done with straight A’s too! It simply requires the self control to put off gratification (expensive food, new clothes, better car, even new textbooks) until later. I worked hard, studied in my free time, and paid my own bills.
I do, however, favor using credit cards if you can use them with self control. I charge EVERYTHING I buy because I earn 5% on all purchases. Then I simply pay the card off each month. I just only charge what I have the cash to buy. Before my bill is due, my money sits in an interest-bearing account earning 1.9%; meanwhile, my charges are earning 5%. It’s just my little way of tricking the system.
I also have a cash back credit card. I don’t use it TOO often (only for big purchases) because I don’t want to get out of control with it. I will admit when I first got it I racked it up to it’s $1,000 limit (thank god that’s all it was) and then spent 6 months paying it off! I certainly learned my lesson quickly, haha.
But if you have the proper self control with credit cards I agree they can be a great thing. It’s when people use them that DON’T have the money in their bank to pay it off that it becomes a huge problem!
Good job completing pharmacy school AND working so much. That is quite an accomplishment and definitely takes a lot of self-discipline!
I do a lot of the same things you do! I have an automatic weekly withdrawal straight from my checking to savings account and I very rarely touch the savings. I try to keep at least 3 months worth expenses in it at all times because you never know when an emergency (job loss/car wreck/etc) is going to come up. I rarely go out to eat or out to bars (of course, being alone a lot helps that) but when I feel left out I realize that saving lets me do things like take an extra long holiday break or go visit my brother in New Orleans for Mardi Gras. Vacations are far better than frequent eating out, in my opinion! Also I have ONE credit card that I get cash back on for groceries, gas and utilities so I use it for those things and then immediately pay it off so I never get finance charges.
As far as student loans, I graduated with nearly $20k but have made double and even triple payments to try to knock them out as soon as possible. I know it’s a “good” debt but I hate any kind of debt!
It’s not always easy denying yourself a new TV (mine is stone age) or new clothes but it’s worth my freedom of mind!
Once I am done school my goal is to save up 3-6 months worth of expenses and NOT touch it. For right now - since my parents help me so much - $1,000 is enough for “emergency” savings but soon it won’t be!
And I completely agree, going on fabulous trips is WAY better then eating out all the time. I know I won’t be regretting my tight budget when me and Eric are in Europe in a few months!
Oooh, a topic close to my heart!
Reasons for debt:
Easy credit.
Lack of self control.
Reckless driving (those fines add up fast.)
CARS. Whether it’s loans, mods, repairs, whatever, those beasts are expensive. Unless you have a nice new car bought for you
It’s also very hard to avoid debt when you leave home with literally nothing - no savings, a couple of changes of clothes, no car. (that’s BF, not me.) I was fortunate enough to move out with a little bit of money in the bank, even though I was only 17 and still in high school.
I can completely understand how it would be difficult to avoid debt for some people. At the same time, I think it can be done! It just depends what you’re willing to give up I suppose!
This is a great topic Amber. I have credit card debt that I am currently working hard to pay down. I also have a car payment and a significant amount of student loan debt. I put myself through college because my mom and stepdad weren’t in a position to contribute. I’ve paid off about 3/4 of the student loan, but still have a way to go. Its made me hesitant to go back to grad school because I dont want to take on the full price of that masters degree while I still owe for my undergrad degree. One of these day’s I’m just going to have to do it.
I have credit cards that I use pretty often, but only because they earn cash back. I still wind up paying them off every month.
I do have quite a lot of student loan debt. (and now a mortgage too! Yikes!) I’m slowly trying to pay off my students loans, and do pay more than what’s due. But they’re going away far too slowly for me.
I tend to be very good with money … I only have 1 credit card, and I have never paid interest … I pay the balance off in full each month.
My parents didn’t coddle me at all, and I learned to become financially independent. I put myself through university by working at Dairy Queen … I got no student loans or help, and I finished debt free. I will raise my kids with the same money sense as my parents passed on to me.
That’s so great, Jolene! Clearly it IS possible to put yourself through school on your own - as a few commenters have pointed out - it just takes hard work
Good for you!!!
I really think my husband and I are the only ones out of our friends in a good position and I don’t even have a job that has benefits. Why? Because we want to retire to warm weather ASAP.
We had over 10 grand in savings until we just re-did our kitchen last week so we are back to about 6 grand… We have 2 car payments (we are paying mine off totally ahead of time by June) and I think around 30 grand in student loan debt combined and our mortgage. We bought a house right out of college and it has honestly saved us soo much money in rent and we can do what we want with our 2.5 acres. Yay. We also almost have 80 grand put in a 401k and a pension plan that I believe is seperate from that amount in our retirement plan. We have money marked in our savings towards certain things (vacation, rainy day, house improvements, kid, long term bills and etc..) We have it all based on percentages of each pay check.. And we each get a paycheck from that which is what we can spend for the next 2 weeks. We have a credit card that we put gas on and after so many gallons we get a 25 gift card. We pay it every month. My friends? Oh good lord.. I have one friend whose husband has a MARKETING/BUSINESS degree and they are having their house foreclosed on yet, always have EVERYTHING. And he lost his job for over 8 month and they had to relocate and their mortage was stupid to begin with.. ughhh poor choices..
Thanks for the advice! I’m going to start having money put into my savings account each month automatically so i dont have to worry about it!
YAY for being savy! haha
Great suggestions! I’m trying to do better about spending on things I don’t need. I’ve avoided Target for a few months now and that has helped somewhat. And I’ve not been clothes shopping in quite some time.
Also, I wanted to share this Suze Orman expense sheet I found online a few months ago. I was shocked to find that she thought I needed to have over $8,000 sitting in my savings/rainy day fund in the case I lost a job or something. So much more than I currently have. Perhaps I should work on that.
http://www.suzeorman.com/2009actionplan/expensesheet/index.html
i think the whole suze orman thing is smart, but realistically — people need to feel comfortable with what they spend their money on and what they save. Realistically, for me, I have just about 6k in savings, 8k seems so FAR away! But i save what i can, but i’m also not going to not live life because I don’t have 8k in savings. It’s just no way to live.
You are so spot on with this one! I think Gen Y just needs to wake up and smell the Starbucks or Green Tea. You have to be smart with your money and watch where it goes or you won’t have any. I think people our age don’t realize what will happen…..
I didn’t get a credit card until after college which was good and bad. Because I didn’t have any credit when I went to buy my car, I had no credit. Then I couldn’t get companies to give me a credit card because I had no credit history. When buying my house a year later I had good established credit, but still had comments of not enough of a credit history. Ekk. Luckily, my lender went through with the house. Now I love my place so much that I budget and re budget and track all of my expenses to the penny.
This is so good! My tips are simple:
- I don’t buy things I can’t afford
- I never carry a credit card balance
- I budget for everything, including the unexpected (all of our monthly budgets account for normal expense, retirement savings, travel savings, vet bills, car repairs, home maintenance, and then pad all of that by 10%)
- I plan. Everything.
When I was growing up my mom was always broke and I was always terrified we would run out of money, I wanted to do anything I could to help. My dad did well, and he sent me to private school. Being around people who see no value in their money just further engrained in me how important it is to be independent and to plan.
ps - Password for tomorrows post? <3