She Strengthens

Taking Control of My Finances: A Journey of Self-Discovery

Growing up, I never felt deprived, thanks to my single mom’s efforts to provide for my sister and me. However, I later learned that she struggled to make ends meet, often sacrificing her own financial security to give us the best possible life. Despite her own financial struggles, she instilled in me valuable lessons about personal finance that have been instrumental in shaping my financial decisions.

The Importance of Budgeting

My mom’s first lesson to me was the importance of creating a budget. When I was knee-deep in credit card debt after college, we sat down together to list out my monthly expenses and income. This exercise helped me understand where my money was going and how much I had left over for savings and retirement. I wish I had listened to her sooner and avoided the financial pitfalls that followed.

Breaking Free from Credit Card Debt

I’m not ashamed to admit that I once lived off credit cards, accumulating debt without a care in the world. My mom’s advice to physically remove my cards from my wallet and focus on paying off the debt was a turning point for me. With her guidance, I created a plan to pay more than the minimum on each card, and it’s been a liberating experience watching those balances dwindle.

Dressing for Success on a Budget

My mom’s impeccable fashion sense has always inspired me, but I took it too far when I landed my first job in Manhattan. I thought I needed a brand-new designer wardrobe to fit in, and my weekend shopping sprees quickly added up. My mom intervened, reminding me that dressing professionally doesn’t have to break the bank. We went to Marshalls together, and I returned all the clothing I couldn’t afford. It was a hard lesson, but one that has stuck with me.

Conquering Fear and Taking Control

My mom’s experiences growing up in poverty taught her that money doesn’t have to be scary. Once I started tracking my spending and took control of my finances, my fear of money began to dissipate. It’s essential to acknowledge that personal finance skills can be learned, and seeking help when needed is a sign of strength, not weakness.

The Power of Asking for Help

This final lesson is perhaps the most crucial: don’t be afraid to ask for help when facing financial struggles. My mom’s guidance and support have been invaluable, but I’ve learned that true friends and family are willing to lend a hand if you’re willing to ask. Putting pride aside and seeking help can be the key to achieving financial freedom.

Finding Balance in Finances

My mom’s teachings have taught me that balance is key in personal finance. It’s essential to find a middle ground between being responsible with your wealth and enjoying the fruits of your labor. By adopting these lessons, I’ve been able to take control of my finances and build a brighter future for myself.