When I graduated from college, I had only a vague notion of how to manage money (and, actually, vague is probably overstating the situation… ). I understood that debt was bad and saving was good, but beyond that, I was clueless. The result? I was terrified to spend money.
I could not drop a dime without experiencing sweaty armpits. To be honest, I’m glad I didn’t swing in the opposite, profligate direction, but no one should be afraid of their money. It’s a tortured way to live and I wish I’d educated myself and saved years of stress. Years, I tell you.
My liberation came with Personal Finance For Dummies (don’t laugh, it’s actually not a bad book), but you all now have a far better option in Broke Millennial: Stop Scraping By And Get Your Financial Life Together, written by my friend Erin Lowry, founder of brokemillennial.com. In addition to the actual content being better, it has the upside that you won’t feel like a moron reading it in public like I did with the Dummies book…
Trust Yourself to Manage Your Money
I’m a huge (gigantic, you could say) proponent of managing your money yourself and taking charge of your finances. If you don’t, no one else will (or, they’ll charge you through the nose to do so and might not act in your best interest).
But where to start with all this obscene %*#&-ing $$$ jargon, you cry???? With this book. Lowry demystifies money and explains complicated terminology in perfectly reasonable, understandable, digestible bits–because that’s what it truly is: understandable. Many financial services firms intentionally use complex jargon to make us mere mortals feel like we can’t possibly manage our own accounts.
There are no commercials on television for frugality and index fund investing (which, by the way, outperforms actively managed portfolios) because it doesn’t make any money for big banks and businesses. But the truth is that acronyms and archaic language and patronizing voiceovers are cloaking altogether easy-to-comprehend concepts that anyone can master.
Lowry breaks it down for us by covering everything you need in order to whip your finances into shape–no matter where you’re starting from (clueless like I was, or somewhat more enlightened). A few of her chapters include:
- Money Isn’t The Worst! Seriously.
- Yikes, I Already Have Consumer Debt. What Now?
- I Can’t Afford To Split This Dinner Bill Evenly!
- How To Negotiate Salary (Or Anything Else) by Learning to Ask for What You Want
- Investing: No, It Isn’t Gambling!
Lowry also addresses home buying, retirement savings, how to communicate about money with your partner, student loan debt, and more. Reading this book feels like chatting with a friend–albeit a very financially savvy friend who won’t let you get away with mucking up your money any longer. Erin’s style is approachable and actually fun to read. Seriously, I read this before bed every night, sometimes after a glass of wine, and didn’t fall asleep mid-paragraph a single time. This is no dry economics text.
Why Mrs. Frugalwoods Should’ve Read This Book A Decade Ago
My problem, at age 22, is that I didn’t understand how to craft a longterm financial picture on a $10,000/year salary. I had no perspective and no understanding of investing. I practically passed out anytime mentioned the phrase “stock market.”
As an English and Political Science major, I felt like finance just wasn’t something I needed to–or would ever be able to– understand. But here’s the thing: if you live in this world and operate in society (which I assume you do because you’re reading this on the internet), money is an integral part of your life.
You can either control it–and build the life you want–or it’ll control you and dictate the life you have to live. There’s not really another option.
Fellow Women: I’m Talking To You
You can live in fear like I did of overdrafts (happened to me once… ), of incurring debt, of never being able to pay off debt, of never retiring, of never being able to afford a vacation. Or, you can splash some cold water on your doubting self and get educated. How do we learn to manage all the other aspects of our lives? By reading about them, by taking a class, by talking to our friends. Managing money isn’t any different, despite the absurd taboos our society cloaks it in and the patronizing voices that intone we’d better hire a professional, little lady.
I mention “little lady” because there’s an anti-feminist tone that streaks through traditional financial management. There’s an assumption that women aren’t good at math and ergo, aren’t good at managing their money and furthermore are incurable spenders concerned only with their hair, makeup, and handbags. Well. You can imagine what I have to say about that. If you’d like to disprove this asinine stereotype, start by empowering yourself to understand your own finances.
You don’t have to grasp the inner machinations of the global economy if you don’t want to, but you do need to understand the accounts you have, the debt you carry, and your plans for the future. Women earn less money than men and “are almost twice as likely as men to live below the poverty line during retirement” (source: CNN Money). These are facts on the ground and facts that I hate.
However, this inexcusable lack of parity isn’t helped by women not valuing their work, not investing their money, and not understanding their comprehensive financial landscape. Don’t overlook the fact that this book is written by a woman. You are worth more, you can retire with enough money, and you can teach yourself how to get there. Money is not rocket science, but it does require that you put some time and effort into understanding it.
Eliminate Your Insecurities Around Money: YOU Are In Charge
In my ongoing crusade to help people let go of their insecurities around their money (myself included… ), Lowry’s book is a wonderful tool in the arsenal. I can’t possibly cover everything here on Frugalwoods (try as I might) and so, extracurricular reading is required. Although Broke Millennial (as you might’ve guessed) is geared towards folks in their 20s and early 30s, I found most of it quite applicable to one’s entire financial life. The principles of managing your money wisely–saving more than you spend, avoiding debt, and investing–are the same no matter your age. I am proud to say that I learned new things from this book!
I also love how Erin debunks the myth that being single and living in a city (she’s a resident of NYC) is a death sentence for saving and investing. Not at all, she teaches us. I often get questions from readers on how to maintain financial fortitude in the face of those lifestyle factors and, my friends, here’s your answer. At 28, Lowry intimately understands the pressures of friends’ birthday dinners, endless bridesmaid duties, living with a roommate, and trying to figure out how she and her boyfriend (who has student loan debt) might one day combine their finances.
Her book is a raw, realistic look at what to do when you’re at this somewhat untethered stage of life and you don’t have an inheritance or a massive salary to prop you up. As a person who lived in NYC myself on a $10K salary–and managed to save $2K of it–I can say I would’ve been much better off had I understood the concepts addressed in Lowry’s book.
If you have any graduates in your life right now–high school or college–I can’t think of a better gift. Oh wait, I can: get them Lowry’s book and JL Collins’ book on investing (or check them out from your local library). That’s the perfect recipe for getting your financial life together and granting yourself a peaceful, productive, lifelong relationship with your finances. Because I have news for you: your money will be with you for your entire life, so you might as well get on good terms with it now.
The Lola Retreat: An All-Women Financial Conference
I feel so strongly about enfranchising women to be badasses with their money that I’ll be speaking on a panel this summer at a new financial conference designed specifically for women. I’m sharing this with you because it’s not a conference just for bloggers, it’s a conference for any woman who wants to expand, or begin, her journey to personal finance prowess.
It’s called the Lola Retreat, it’s taking place in Portland, Oregon August 18-20, 2017 and I will be there along with Erin Lowry! It’s not free, but you can get $50 off your ticket if you enter the promo code “FRUGALWOODS.”
I can’t wait to hear accomplished women speak on the topics the conference addresses: under-earning, love and money, financial anxiety, investing, retirement, debt repayment, home ownership, budgeting, early retirement (that’s me!), and more. And perhaps more importantly, I look forward to the camaraderie and collaboration of a group of women coming together to discuss a topic traditionally considered the exclusive domain of men. The genesis for this conference was a conversation between two women that, quite simply, “women need to talk more about money.” I couldn’t agree more.
When we learn from one another, when we empower one another, and when we realize there are strong, intelligent female role models for our daughters (and sons), I think we put ourselves in a position to succeed and to transcend the limitations previous generations imposed on women. I’m quite certain that nasty women manage their money with aplomb.
If you’re interested, you can read more about the conference and let me know if you’re coming so that we can meet up! P.S. Apparently Portland has amazing beer and coffee, so I will, uh, be doing some investigative research into those two fields while there…
I started to learn after college. I got interested in investing and then from there I started to become obsessed with learning as much as I could. Even with all that I know today I realize that there is so much more that I don’t know.
BTW…I was talking to some friends about Vanguard passive index funds the other day. They looked at me like I had three heads. They were like I never heard of it but check out this awesome mutual fund that only takes 1.25%. UGH!!!
LOVE my Vanguard Funds! It is so simple to manage and they have people who will answer my questions on my level. All women should check out Vanguard as their fees are ultra low and they will treat you like a true investor. Not someone with three heads.
Vanguard is awesome! For context, in case others are reading this and wondering what we’re talking about, Vanguard’s low-fee index funds (VTSAX) are an excellent way to invest. Fidelity offers a similar product (FSTVX), which is what I use. Either is great!
Firstly thank you for your wonderful site. I too am a frugal weirdo and I feel blessed to be able to follow your journey. Secondly is there anything like Vanguard for UK residents ?? I’m pretty clueless past regular savings, debt management and thriftiness.
Lisa xx
Vanguard funds are available in the UK (www.vanguard.co.uk) – to invest you need to have an account set up through a stockbroker. I use Hargreaves Lansdown (www.hl.co.uk) which is very user friendly, if not the absolute cheapest option.
For UK residents, if you invest through an ISA (Individual Savings Account), you can also invest up to £20,000 per year, with all income and gains tax free.
Hi, Lisa and Mrs FW.
I’ve been following this site from afar (Brit living in Hong Kong) for two years and have been inspired.
Lisa, I think I am pretty much in the same boat as you. I’ve done a bit of research and Vanguard and Fidelity definitely operate in the UK. I think you can also do something similar through banks, such as HSBC. My moment of paralysis comes when I try to work out HOW to actually do the physical investing. It sounds ridiculous but I have no idea who to approach/what the process is. I am back in the UK for the summer so I expect I will do a bit of poking about then.
Victoria
Vanguard have just launched their own direct platform in the UK. https://www.vanguardinvestor.co.uk
The same for me upon graduation. However, I noticed that while the general consensus was that debt was bad, everyone seemed to carry credit card debt. So, I went with the masses, and spent most to more of the money I made. After all, this was a starter job, and didn’t earn a lot of money, there was time in the future to invest. Well, half that ‘future’ is gone for me, it goes quick, so start now! I finally woke up through blogs like this and MMM (so thanks!). I will have to check the book out, as a father of 5 daughters I am always looking for good resources and role models to help them start out, well, the opposite of how I started out. Thanks!
Wow sounds like a great book! I definitely have had some major frugal fails throughout my life. But I’m glad I’m frugal most of the time. Thanks for sharing!
Hmmmm. I might just buy this book for my 20 year old who will be heading off to his final year of university in the fall. I was secretly pleased to note that he took “The Millionaire Next Door” with him off to his summer job (he works up north for four months). He is clearly interested in learning.
True story: I had just cashed my first paycheck from my 1st full-time job after dropping out of college. I’ll spare you the details, but it was 1974 and I had a job as a government clerk, taking home a little over $75 a week. Lived at home, where I took care of my brother and sister, my spendthrift dad and my alcoholic mom. Anyway, as I was socking money away for my bus pass, for the new bras I needed (hadn’t had any in 3 years), and the new clothes I would need (I’d been wearing the skirt from my high school uniform on job interviews), it dawned on me that — wait for it — I DIDN’T HAVE TO SPEND EVERY CENT I EARNED. I always tried to save something, and if I didn’t save, I tried not to spend. Still learning about money, but we got our kids through state colleges without any debt on their part or ours.
You’ll love Portland! I lived there after college (late 90s/early 00s). Make sure you check out the hiking in the city (Washington Park). If you have more time and a car, I would head over to the Columbia River Gorge. It’s beautiful.
Yes to this! Hiking there is great!
I was exactly the same when I was in my late teens, early 20’s – terrified of spending money and absolutely fearful of debt. Which I guess is a good thing as I was never lured into those credit cards the banks sold you on alongside their student bank accounts with the 0% overdrafts. I’m glad I was fearful as it meant I have never had consumer debt but I feel more comfortable nowadays – no longer fearful, just confident about having a handle on my finances and crafting the future I want from it.
This book looks great – I’m passionate about all young adults (especially women!) getting a handle on their finances 🙂
I am totally getting this book for my sister (and myself)! She just graduated college and has begun asking me the occasional financial advice question. It sounds like it’ll be a great read for both of us. She also lives in Portland, so of course I’ll recommend the conference if she has any interest! Maybe even if she doesn’t, I could go and crash on her couch…
I also completely have experienced this anti-feminist tone you mentioned. People always seem surprised, and maybe a little disbelieving, that I am interested (and dare I say even a little bit informed?) about personal finance as a woman. The best we can do is continue to prove the patriarchy wrong 😉
Well said! It’s a common stereotype and one I work to combat daily. That’d be so fun if you came to the conference!
Hi, Really liked your article (as usual) and was thinking about getting this book for my sons (both in their twenties). Since I haven’t read it myself yet, I just wanted to ask first if the book is focused mostly on women and their finances or if if it is written in a more general manner for everyone.
Thanks
Oh it’s definitely for everyone! I just wanted to highlight the need for women to take charge of their finances since we are often stereotypically excluded from traditional financial management.
Great! Thanks for your prompt reply – and yes, you are definitely right about stereotypes in financial management!
Years ago we were considering using a fee-only financial advisor for a second opinion and I called one recommended by a friend. During our conversation he asked who was managing our money now and I told him I was, using low-cost index funds. He actually chuckled and said that was nice, but that very few people were capable of managing their own money well and he’d be happy to take care of it for me. I politely declined and he told me he’d still be willing to consider it when I changed my mind.
It’s been 10 years, doing just fine.
Way to go, KJ :)!!!
I hadn’t heard of the Lola retreat! And it’s not too horribly far from from me. 🙂 Thanks for the heads up.
I finally got a handle on my finances (far, far later than you did, at the ripe old age of 37) when I read Ramit Sethi’s most cornily named ‘I will Teach You To Be Rich’. I loved the extremely practical advice – at the end of every chapter there were steps you could take to make forward progress. I’m pleased to report that I’m now confident enough to dare to blog in the space of personal finance, and I’m due to retire when I turn 42.
That’s wonderful! Congrats!
Empowering as always! It is true that, as a woman, people expect you to shop for a hobby and to spend all of your money on futile things, or even worse, they expect you to rely on your partner for everything financial. But I honestly think that woman arr much better and more efficient at managing theor budget.
I was like you and was terrified of spending money when I was younger. Most of my anxiety came from seeing my parents barely scraping by and I knew I never wanted to live like that. Fortunately, it has paid off and I have earned a good income, saved a lot of money, invested pretty well, and am now financially independent at 41 years old. It’s a freeing feeling to know I don’t have to work if I choose not to.
I definitely think learning as much as you can about money at a young age is so important – earning it, saving it, and investing it. You need to do it early in life, but you also should keep learning more every day. And that’s one of the reason I love reading your blog (as well as other personal finance/frugal blogs out there) – you should never stop learning as much as you can!
Not to encourage overspending but . . . Salt & Straw ice cream is a must eat. I prefer Blue Star donuts over the more popular (and kitschy) voodoo donuts. PDX also has fabulous cider. 10 barrel brewing is my favorite brewery, and Hawai’i time has awesome plate lunch. Pizza Schmizza for pizza by the slice. PDX is my favorite city to visit. Great mass transit!
Mass transit, donuts, pizza, and beer! That’s a lot of my favorite things all in one city :)!!
It’s never too late to get your financial life in order, you just gotta take that first step! I finally really READ my last Fidelity 401k statement & found I made a whopping .58 cents on $70k last month. Making trades was as easy as pie and the FIRST DAY in index funds I was up $100. I know It’s a long-term deal but I’m paying attention now. I’m excited to have my money working for me for a change -thanks for spurring me to action, Mrs. F!
That’s wonderful! So glad you made the change to low-fee index funds :)!
I could have used a book like this when I was in my 20s. Sadly, even though I’m an accountant and should have known better I learned spendthrift ways from my parents and got in financial trouble not long after I graduated from college.
Women and money is such an important topic that doesn’t get talked about enough. It is so important. I can’t tell you how many women I know have stayed in bad relationships because they can’t afford to live on their own. I was just talking with my teenage daughter last night about her friend’s mom who is in that situation right now.
I would love to go to the Lola Retreat, too bad it’s on the wrong side of the country.
We have great hard cider too, not to forget thrift stores! The gorge, Timberline Ski Lodge, you may not want to leave!
Glad to hear you will be attending (and participating in) the retreat! I’ve been reading your blog the last couple of years, and I hope to meet you in person in August.
I was one of the lucky few who was never intimidated by money and never heard that women weren’t supposed to be good at it. Mentally, I was already in control of my money before I even had any which was the perfect position to be in when stark necessity meant that I desperately needed to master every bit of financial savvy.
At 17 I started a really weird journey from being a high school senior to becoming someone who managed a small salary to both support the daily living expenses of a 4 person family AND pay off over $100K in my parents’ personal debt by the time I started my actual career. Luckily PF blogs were a thing right after I graduated – thank goodness for the internet! I learned so much from the old school money bloggers. It’s been half a lifetime of maximizing my career and money and maybe the best part is that I keep on learning how to manage money better every day. There’s always something new to learn or try, and I love it when women sign up to learn too. Wish I could attend the Lola Retreat this year but I already know it’s not in our budget 😉 Maybe next year!
I love this, and only wish I had learned the lesson earlier in my life. However, no point regretting the past. I guess I view finances in thirds – firstly, saving for retirement which I have had under control since my first job over 20 years ago, secondly, the 6 months living costs – check! And I’ve now just started investing in stocks and shares – I’m in the UK and use Nutmeg which seems similar to Vanguard et al. I actually feel really excited about investing, which I guess is a little bit weird, but it is a really positive step forward for me and my future self. I’m investing 20% of my after tax income as a non-negotiable, and may be able to make additional payments. I think the challenge will be not checking in every day and seeing profits/losses and getting, respectively, excited/panicked! Love this blog, you’ve made such a difference to how I view myself and my finances.
My dad gave me some money in high school, I think $500, whatever the minimum to invest was at the time and helped me choose a mutual fund. So I feel like I’ve always known to invest my money. Although now I do index funds instead of trying to pick the best mutual fund – my dad had me analyzing 5 year returns and morningstar ratings!
I woke up in my late 20s, but I was always a saver. I just hyper accelerated it then and have really hit my stride the last couple of years. Since January 1, 2013 my investments have gone from $150,000 to just shy of $400,000 and it continues to escalate quickly. Just this year my investment accounts are up $40,000 with contributions and gains. I really got moving once I found the financial freedom community and thank everyone for the camaraderie we all share in getting to that special place.
Brilliant! I want this book for my mom so badly…
Also I live in Portland! On the outskirts a bit. I’m not sure I can go to a conference, but let me know if you need anyone to meet up with! I’m 40% to FI 🙂
I really appreciate every time you bring up the intersection of feminism and finance! Women are already given cues that finances are ‘outside our area’, so we face that extra barrier in deciding to take control of our money.
I know in past posts you’ve mentioned how you moved jobs to increase your salary. I would love to hear what you’ve learned about salary negotiation (negotiating starting salary or a raise). This is another area where women face an extra barrier, and it has serious consequences over the course of a career. The only way I was able to get myself to negotiate my salary was by reminding myself of that fact (I was doing it for feminism!), but I am still incredibly nervous about even the idea of having to negotiate again…
Just retired after a 45+ year career as a RN in various fields, had earned a MS + paid for by working at the university in our town + teaching. Many years ago, we nurses who were primarily women, had no access to a 401K,management thinking 😔”hey, they’re women so they must have husbands who do!” There was no Internet to connect regarding finances, but I suppose I’ve always been a bit frugal, esp. 3 years before I retired. My hubs + I have no debt, no pension from any job, only social security + savings of 401ks. We eat out 1x week and travelled when we were young (don’t put this off until you’re older). We live in a great New England beachside town in Rhode Island, and finally are our own bosses ! We still save money in retirement -amazing how much “stuff” you don’t need to live.
Nursing is the field of the present and future. Nothing gives such a great ROI, especially for a two-year field. Union protections, pensions- great gig, and good for you.
For me, the wake-up call was a book called “Your Money or Your LIfe”, by Joe Dominguez and Vicki Robin–the original edition. I started learning about the “Boglehead” philosophy 25 years ago, and it always made complete sense to me. How wonderful it is to have no money worries now that I’m a retired boomer.
That one really did it for me too! I found it at a garage sale for $1! Best dollar I ever spent. Then I loaned it to somebody and never got it back!
I love this. I’m admittedly self conscious about my lack of investing knowledge and in the past I’ve let it prevent me from investing. Thank you for addressing the paternalism in the financial world; lady power!
mmmmmm I don’t feel the sexist money thing at all. I’ve been handling family finances for about 40 years and most of my female friends and family do too. The only exception I can think of is my 29 year old daughter who is married to an Excel/budgeting whiz! I even paid bills when I was in high school for my parents and did the weekly menu planning and grocery shopping.
My mom was very frugal and at 87, she still hangs her clothes out on a clothesline and enjoys her beans and cornbread!
I would love to attend the conference in Portland! My oldest granddaughter’s birthday is the 18th. When she was born I vowed to spend every birthday with her. In 8 years I have not missed one!
Unfortunately Portland is a bit of a trek for me, but I have to say my ears really perked up at “under-earning.” That is absolutely my biggest money problem and I can’t seem to make much headway on it. I did just up my hourly rate for my freelance gig by 25% so yay for small victories, but I know that for my level of skill and education I shouldn’t be making so little at my day job that I HAVE to take on two extra jobs to meet my savings goals! I’ve been doing a good job with moving towards a more frugal lifestyle but that takes you only so far when there’s a cap on your income in the first place. I’m sticking at my current job until next Jan cos then I’ll get a 100% match on 5 years of contributions to the portable pension plan that I can roll out into an IRA when I leave. After that, I’m not sure how to aim high enough to make a big salary leap but I have to work it out!
My daughter is graduating from college this Sunday. She gets completely annoyed when I try to discuss budgeting/saving/investing/frugality with her. So I ordered this book a few days ago to give her as a graduation gift. I’m a fan of Erin’s blog (even though I am a Gen-Xer). I wish I had this info when I graduated college. Crossing my fingers that she’ll read it…….
My fingers are crossed for you too! Erin’s book is incredibly fun to read and easy to digest (and Erin is witty and snappy in her writing), so I hope your daughter finds it a good change of pace!
You don’t have to post this. I just wanted to get this o you in case it encourages you to tweak two words in this post. Two words seem insignificant, but they do have power.
“However, this inexcusable lack of parity starts with women not valuing their work …”
Please tell me you didn’t mean “starts with” here? You really meant “isn’t helped by” .. Right? Please?
Yes, this piece is written to empower women, but saying that the gender pay gap (the lack of parity you are referencing from the previous paragraph) started with women not valuing their work?!? Please tell me that you were referring to a different lack of parity or that you meant something different.
Because the gender pay gap’s origins are from LONG before women even had the option to fight for better pay …or even own property.
If I am reading what you wrote correctly, you are inadvertantly boosting the argument used by those who oppose equal pay for equal work–that women are paid less because they aren’t negotiating for better pay.
The lack of parity started long ago. It continues NOT because women aren’t doing their part, but because shifting an entire culture’s views on gender roles takes too long and is mired in religion, politics, and more.
LAST MONTH, not in the 1950s, the 9th U.S. Circuit Court of Appeals ruled that you can pay women less than men for the same work based on past salaries. Considering that women have been paid less for more than a century for the same jobs, this “past salary” decision will support the pay gap. Women valuing their work took this to court and got shot down.
People with an ounce of humanity don’t say that rape starts with women not valuing their bodies. Let’s not blame crimes or inequalities on the victims, even in an empowering piece.
I negotiated a much higher salary than I was offered and later learned I was still being paid less than my make counterparts, because the company significantly lowered their opening offer since I “didn’t have a housewife to support.” They are to blame for that, not me for not valuing my work.
I like you, and your blog, and I know there is no malice here. That is why I am mentioning it–do you can correct me if I misunderstood which lack of parity you meant, if not the one immediately prior.
TL;DR: Women can fight for equal pay, but they did not create the pay gap through devaluing their own work.
Julie, thank you so much for this insight! I completely agree with you and I see now that I mis-worded that sentence since it certainly wasn’t my intention to lay blame on women for the lack in pay parity. I will edit it now! This is one of the reasons why I love writing Frugalwoods so much: the thoughtful, intelligent readers who share their depth of knowledge and make me a better writer. Thank you!
Thanks for sharing a break down of this book. She has done a great job marketing herself with the book release, and also with a great site.
It is definitely on the reading list – looking forward to reading. Especially as others are finding it so helpful !
Just found your site and am happy to read about all of your adventures. My kind of peeps. Thanks for sharing!
Just found your blog and I am so happy I did. I love how your personality shows through!
I just started my own frugal living blog, what got me interested is my student loan debt I “earned” after my masters degree. It was time to put serious thought on how to pay this off!
Thanks for the post, looking forward to living frugal with your insight.
I was literally taught nothing about money in college. Finance was a required course for my business degree, which has some aspects that can be applied, but not in the frame of personal finances…shame
I think it is important for people to understand their investments. How many Athletes and celebrities have we seen lose money because they were taken advantage of by financial planers. I think that investing can be very simple if time is put in to understand he basics. It is important to come up with a plan you can stick with through good and bad.
Did a an Uber Frugal Month in June and learned tons! While my spending became healthier, I realized something more profound. The internal conflict of consumerism was still ingrained in me. Having the support from Mrs. Frugal woods all month was both pleasantly fortifying and quite illuminating in this regard. I can honestly report I now happily hold back on expensive food , for example, and having to own” the perfect wardrobe” and am able to step way from the destructive consumerism that is forever bombarded at me. Well, I do live in NYC.
The other huge insight was Mrs Frugalwoods perspective on achieving long-term goals. She advised focusing on the very long-term for achieving goals. My ability to set goals was somewhat limited to the next month or next season.
Enough details, the bottom line is the experience
taught me life lessons just by being Uber Frugal. I am a convert, even if it’s not a straight path.
Forever thankful,
Lisa