The Beginnings of Me and My PF
To be honest, I’m not a huge fan of New Year’s resolution. I’m usually on that Hype Train Day 1 but quickly find myself quickly looking for a ticket on that way more comfortable lazy train. But this year, this year’s going to be the year I’m going to ride that Hype Train straight to December 31st, 2018 and there’s nothing like public peer pressure to keep me motivated!
I’m keeping it simple this year – commit to doing at least one thing you’ve always talked about doing (this year will be blogging) and commit to complaining less and focusing more on life’s highlights which I’ll track via Daylio a journal app. Typically my New Year’s resolutions are like many other’s: eat healthier, exercise more, travel more, start that blog you’ve been talking about for years. These are all great resolutions to have – I mean that’s why they’re so popular right? Something I don’t hear as much is “This year I’m going to work on getting my personal finance figured out!” I mean I’m sure we often hear people talking about how he/she is so broke – maybe that’s you? There’s probably a billion memes about that broke college kids, millennials, young 20-something-year-olds. So if financial problems are so regularly discussed, why do so little of us care to have our finances in check? A lot of my 20-something-year-old friends think about personal finance as something that older “adults” do, something we think about later…. But when is later? 5 years? 10 year? 15 years later? When we get to “later” how will we unwrap the enigma that is personal finance? Is there some kind of personal finance Hagrid that pops up randomly and tells us “You’re going to be a personal finance wizard Angela!” and then suddenly we get whisked away to some personal finance boot camp in a sick train to finish our “Adulting” training. I mean that would be freaking awesome but that’s not how life is. The uncomfortable truth is many adults are terrible with their personal finances.
Just Google “How many people live paycheck to paycheck in the US?” You can see polls ranging from 49% – 60%+ of adults admitting to living paycheck to paycheck, and yes this includes high earners who make $100k+ and seniors.
Why is personal finance such an enigma? Is it because you didn’t major in finance/business? No. Personal finance is very different from corporate finance, it’s something that all adults should know because it can be life crippling to not give it attention. The crappy thing is that unlike exercising and eating healthy, personal finance isn’t something we’ve been exposed to much growing up or in college. When people throw words like budgeting, 401ks, IRAs, etc. many people are turned off because it all just seems so “business-y”. But if your doctor told you that your cholesterol is high and you can visibly see that you’ve gained an unhealthy amount of weight wouldn’t you feel the need to get out and exercise and eat better to improve your health? Well, shouldn’t we do the same for our financial health? The answer is yes! The good news is you don’t have to be stuck in the “feeling bad about my personal finances” stage forever because there are tons of tools and information out there to help you, and I want to be there to point you in the right direction.
I started this blog because I’ve realized that the majority of my friends felt lost when wanting to sort out their personal finance. For some reason I love talking about personal finance with people so I quickly became my friends’ go to personal finance guru. I am by no means a professional financial advisor, but in my hopes to help those in my personal sphere of influence I created this blog to share information on basic personal finance topics.