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Sharing our money story . . .
Sharing our money story was something I wanted to do because I passionately believe it’s not too late to catch up retirement savings, even after making mistakes (we’ve made a bunch), or starting late (also guilty of this). What I didn’t expect was how much our story would resonate with others, or the level of positive feedback I’d get.
It’s been heart warming to hear that the stories and comments on this site have inspired others. I’m really excited about the growth of this site! It’s gratifying to know I may be making a difference in my readers’ lives, and you can be a big part of that, too.
By commenting thoughtfully, with acceptance and encouragement, you help create a safe space for people to share their questions about money. You can help people re-write their money story!
Here is our money story. . .
We made money, but we couldn’t keep it.
My husband and I both worked full-time for most of our careers.
He worked hard as a union carpenter for many years, and retired after a life-and-death situation left him with a permanent disability.
I’ve worn a few different hats over the course of my career, including social work, early childhood education, and teaching herb and aromatherapy classes.
My primary career track has been that of a social worker, but I’ve always had a few side hustles going on.
We usually made pretty good money, but we never saved any of it.
Sadly, we did not make it a priority to save.
The truth is, our failure to save held us back from winning with money.
When I was younger, I never contributed to the voluntary 401k retirement plans at any of my jobs. Only one of my social work jobs had an automatic retirement deduction from my paycheck. It wasn’t optional, and I didn’t work there very long.
It was always important to me to take care of myself with nutrition and relaxing, fun activities to avoid emotional burnout as a social worker. So why didn’t I make it a priority to take care of my future financial life?
Luckily, my husband has a pension, but his contributions weren’t optional. If left up to either of us to put aside money for retirement, we just would not have done it. And we didn’t.
Life got in the way.
My husband and I made many mistakes with our money, including taking on quite a bit of consumer debt. That debt really held us back and limited our options. We were not able to travel or live the way we wanted to.
Along with a mortgage, we financed home improvements. Our property was old, so when we needed a new septic system, a new fence, or had to remove a tree, we paid with credit.
We had a bunch of credit cards, and they were all maxed out.
We had to stay at jobs we were not thrilled with just to meet all our monthly expenses and debt payments.
Our debt prevented us from putting money aside for the future. We started IRAs only to cash them out before they could grow.
Searching for a way to change our money story. . .
Frustrated that we couldn’t seem to save any money, I picked up a copy of The Complete Tightwad Gazette
Some of Amy’s tips seemed extreme, I didn’t know if I could live the same way.
Then I read The Millionaire Next Door
My husband and I both read Your Money or Your Life
Despite reading these inspiring books, my husband and I stubbornly resisted the idea that we needed to change our lifestyle. We thought that we could out earn our stupidity.
Something had to give . . .
We were blindly unaware of the dangerous cliff looming closer and closer.
Question: What financial books have you read that planted a seed to help you take control of your money?
It’s great that you found books to really inspire you to change your lifestyle, that’s lovely!
Anika | chaptersofmay.com
Aw, thank you Anika May! I’m actually an avid reader of books. This post only lists a few of the money books I’ve read. Maybe it’s time for a post on my favorites? Thanks for stopping by!
This is pretty insightful for a what to do/ what not to do for someone younger like me!
Thanks, Lazygirl,
I’m glad you found it helpful. The hard part is taking action, lol.
Thanks for reading & commenting.
This is really interesting, it’s true we aren’t really ever told how to properly look after money and how to dave it.
Thank you for sharing this.
I’m glad you enjoyed it, Jen. Wouldn’t things be different if we were all taught about the dangers of debt and the impact of compound interest when we were in school? I could just see a high school class called “How to be a Millionnaire” – that would be a valuable education!
The Wealthy Barber is a Canadian book that has helped a lot of people with their money. Very simple, common sense approach. Thanks for sharing your story. The more we talk about it, the more we can help others.
That is one of the books my husband & I read together, Michelle! We both loved that book! I had no idea the author was Canadian. It is one of the best books on learning to manage your money.
Good post about finance. Thank you for sharing this post with me.
Thanks, Fadima! I’m glad you enjoyed it. Thanks for reading & commenting!
Trying to change your lifestyle with books is amazing. We need to save money and be careful. It’s my goal now