Why do you save?

Why Save?

In 2005, I left a career that had been lucrative but never very fulfilling and decided to return to college.  At 24, I didn’t know how to save and had blown through all of the money I had made at my previous position.  Since the age of 19, I had struggled to get by, even though I pulled in probably $4000 a month from various jobs.  Looking back now, I wonder how a person could struggle with such a solid income at such a young age.

Looking back now, I think my experience is not much different than most young Americans.

Who Teaches Their Children Budgeting

My parents taught me nothing about budgeting, planning, finances, or how to prepare for the future.  My guess is that their parents didn’t either.  The American mantra of don’t talk about three things: money, religion, or politics leave a fairly uninformed populace in my opinion.  Without a conversation about finances, most young people are sadly unprepared for the real world when they enter it.

The Real World

I officially left home at 18, but I had been out of the house off and on since I was 17 years old.  The liberty of a car was enough to give me the advantage to flee the nest, but not without the generosity of my mom’s gas card and my first credit card.  I was able to get by for a bit, but eventually I found myself at a terrible job where I could make a good wage but hated the job.  I wracked up a couple thousand in debt, maxed out all of my credit cards, and didn’t pay any of my medical bills that ended up at my parent’s home.

Reality comes crashing down

After a couple of years, wrecklessly destroying my credit and living paycheck to paycheck, I found myself unable to get anything on credit.  I had to beg my mom to co-sign on an apartment.  In 2006, I borrowed $1300 from my dad to pay off past creditors and try to dig myself out of the hole I had buried myself in.  There was simply no financial training or education that could prepare me for the mess I found myself in.

The Light

When I left home, I dropped out of San Diego State before even completing my first semester.  It was one of those easy decisions.  I just stopped going.  However, in 2005, I found myself up to my ears in debt and without many prospects for the future.  I decided to return to school.  It was here that I would not only begin to excel socially and morally, but financially.  I would begin to look at my actions and after several years begin to identify ways to alter my financial course.DSCN1678

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