As a relatively new mom, I think often of my childhood and the influence that my parents had on my current position today.
My parents are amazing. They got married at 19 and started their family two years later when my older sister was born. My twin brother and I came five and a half years later. In my opinion, the three of us grew up privileged. We were safe, warm, fed, loved and taught that we were capable of ANYTHING if willing to work hard enough.
(I am also thankful to have been born in a country where that statement is possible, but that conversation is for a different time).
Hard Work and Privilege
My parents have always worked hard and been intentional about placing family first.
We lived in a mobile home park until we were toddlers. It was a nice place to start a family in the early 1980s. We moved three separate times however —all within a one-mile radius. It was important to my mom that we stayed within our same schools because she was uprooted several times herself as a child.
My mom worked at the local pizza parlor and eventually a payroll company. My dad at a steel plant and then a large bakery until we were in high school. When we were growing up my dad worked swing shift. This meant that his sleep was limited but that we only knew what it was like to have our parents around. Privileged!
We grew up with our needs met, and my parents were strategic in their spending—reserving new clothes, athletic equipment and special items mostly for birthdays and holidays.
Strategic Holiday Shopping
I remember going to Fred Meyer (a nice superstore similar to Walmart) to buy my first name-brand jacket. I must have been in the fourth or fifth grade, but I remember it like it was last week. It was a navy-blue, unisex, Adidas jacket, and it was all the rage! My twin brother picked out the exact same one.
Our birthday is in December, so the deal was that the jackets were to be our birthday and Christmas present: a deal worth taking!
We didn’t grow up talking about money in our home, but we had two incredible parental examples who taught us to work hard and to live within our means.
My parents did a most impressive job at raising us three kids. (Thanks Mom and Dad)! They have also done an impressive job getting to where they are today despite humble beginnings.
Additional Influences on Wealth Education
When it came to wealth education and my interest in personal finance, I was also influenced by a girlfriend’s dad. Over dinner one night when we were in high school, he started talking with us about our options for a ROTH IRA. Huh? What? Was this English?
My girlfriend and I both worked building sandwiches at Subway as a first job after school between sport seasons and practices.
Earned income apparently meant that we now had retirement options. Excuse me, what? Earned Income? Retirement options? These were unfamiliar terms—a foreign language!
Overtime he taught us about the basics of saving, compounding interest, the huge impact that investing early would have on my future lifestyle, and the equally large impact that debt would leave behind.
Dinner with my girlfriend’s family changed my financial future and likely my career path. This casual education had a significant impact on my future.
College Debt and School Selection
I opted to go to an in-state University instead of a private, out-of-state University located in beautiful San Diego. I made this decision based on the realization of future student loan debt, which is something that I might not have earlier understood.
I started reading countless books about personal finance, which led to setting financial goals. Eventually I even began contributing to a ROTH IRA.
The first financial goal that I set for myself was to graduate from college debt free.
My parents agreed to contribute the amount that it would have cost at the local community college. I also applied for scholarships, which covered about one third of my tuition and expenses. The rest was my responsibility (about $10,000 a year).
I worked as a waitress 25-30 hours a week while going to school full time. I lived off-campus to reduce the amount that I spent on housing. I worked two jobs during the summer, and… I did it! I graduated debt free.
I also managed to put away $2,500 a year toward a travel fund. (This was my Financial Goal #2).
Hard Work and Discipline
Fast forward almost 15 years, my husband and I are both now in our mid-thirties. Although I am a Financial Coach, I too sometimes struggle to talk about my personal finance story. Society tells us to not. I fear judgement because of what might appear as handouts instead of the reality: great teachers and a ridiculously large amount of hard work.
Hard work is what allowed us to graduate debt free. Hard work is what earned us two legitimate careers in our early 20s. Hard work (and a bruised housing market in 2012) is what allowed us to buy the beautiful home in which we live today.
Hard work and our disciplined lifestyle allowed me to transition careers relatively comfortably in my mid-thirties. I left a nine-year career in medical device sales to pivot toward my passion of financial coaching. A smooth transition would not have been possible without proper planning and hard work.
Looking back, I grew up privileged. I was safe, warm, fed, loved and taught that I was capable of anything if willing to work hard enough. I am fortunate to have had early influences that provided an introduction to financial education while also teaching me to live within my means, work hard and dream big.
My hope is to be that same influence for others—to leave my mark through wealth education and by helping to lay a financial foundation for others to earn, save, give and enjoy all they can!
