It's no secret that it still seems just a little taboo to openly talk about your finances, but it shouldn't be.
For the longest time, it was considered rude to discuss how much money you make and what you do for a living, but why? Money tends to be a sensitive subject for most people, but it can actually be a really useful tool to learn new ways of doing things and managing your own personal finances. Believe it or not, talking about your situation can give other people guidance, as well. If you're afraid to talk about money, you may be unsure of how much you should be saving, how to utilize a credit card properly, or what a credit score is and how it impacts most of your financial decisions. Imagine living out your 20s with all these dreams and aspirations, just to realize you don't even have a plan to get there. Though money doesn't necessarily buy happiness, your financial hardships become a lot less problematic when you know where your money is going, and if necessary, knowing when and how to ask others for help.
First and foremost, come to terms with your financial situation for yourself. Stop avoiding checking your account balance and just assuming that all of your credit card debt and student loans will disappear if you ignore them. Don't be afraid to tend to your own budget on social outings, worried that others will judge you for being smart with your hard-earned money. Surrounding yourself with others who are also open-minded about discussing money will help break the ice, and make it a not-so-scary subject.
We all know how painfully frustrating it is to apply for a job, and not even know what the salary is until we near the second interview. Unfortunately, this is extremely common due to how taboo the topic of money still is. Wouldn't it be amazing to live in a world where we didn't have to waste our time applying for a job that's not going to pay the bills? And more importantly, one that doesn't align with our current and future financial goals. Too often, we don't even find out until we've gotten too deep into the interviewing process. Don't let companies guilt you into thinking that it's wrong to "be in it for the money." It's a job, and we all have bills to pay and goals to meet, so don't be afraid to ask about salary and give your personal expectations during the initial phone call.
Many believe that they will be judged for what they make, how much or how little they save or spend, or their job title. Everyone is so quick to show off their fancy vacations, designer goods and fancy social outings, but no one wants to actually talk about how they afford it, or if they even had to. No one wants to share how many hours they had to work to save up for an international flight, or how much ramen they had to eat to pay rent. It's much more glamorous to just showcase the highlights and leave your audience wondering how you do it, but how are we helping others, and most importantly, ourselves? Real life for most people means working a full-time job (and often a part time job) to save up for a car, a house or to even live comfortably. It means going on vacations only when you still have PTO left for the year. Try not to get too caught up in what you see online, because chances are, you're seeing about 10% of that person's life.
Here's a few things i've learned about money:
I can save an extra $2,400 a year by just opting to grocery shop as opposed to eating lunch out everyday at work.
Saving 20% of your income is a great baseline. Personally, being able to save almost 30% of my income is possible because I cut in other areas of my budget. Now that I have taken on another side-job, I will soon be able to save nearly 45% of my income.
Though I sometimes face tough realizations by choosing not to finish college, I'm completely happy and a lot less stressed being debt-free, with the exception of my car loan.
Transparency:
I used to put everything on my credit card, with no intention of paying it off before the end of the bill cycle. About two months ago, I paid off a small medical bill and all my credit card debt that was costing me $200 a month. Now, I utilize my credit cards in order to receive points and build my credit score.
I work three jobs, because I want to meet my goals quicker. Sometimes, I just want to live more comfortably.
My credit score among the top 20% of the population, because i've worked my ass off since I was 18 trying to get it there.
I don't make a ton, but I make it a priority to save as much as I possibly can. If you can't change your situation, take control of it!
I'll be able to buy a house before i'm 28 with the help of no one else, due to my frugal habits. There are some things I miss out on because of this. Sometimes it sucks, but goals certainly aren't going to meet themselves!
It wouldn't be fair for me to write a blog post on the topic of financial transparency, if I didn't contribute some information myself! I hope this helped a few people in taking control of their financial situation, and not being afraid to talk about it. Happy budgeting!
For the longest time, it was considered rude to discuss how much money you make and what you do for a living, but why? Money tends to be a sensitive subject for most people, but it can actually be a really useful tool to learn new ways of doing things and managing your own personal finances. Believe it or not, talking about your situation can give other people guidance, as well. If you're afraid to talk about money, you may be unsure of how much you should be saving, how to utilize a credit card properly, or what a credit score is and how it impacts most of your financial decisions. Imagine living out your 20s with all these dreams and aspirations, just to realize you don't even have a plan to get there. Though money doesn't necessarily buy happiness, your financial hardships become a lot less problematic when you know where your money is going, and if necessary, knowing when and how to ask others for help.
First and foremost, come to terms with your financial situation for yourself. Stop avoiding checking your account balance and just assuming that all of your credit card debt and student loans will disappear if you ignore them. Don't be afraid to tend to your own budget on social outings, worried that others will judge you for being smart with your hard-earned money. Surrounding yourself with others who are also open-minded about discussing money will help break the ice, and make it a not-so-scary subject.
We all know how painfully frustrating it is to apply for a job, and not even know what the salary is until we near the second interview. Unfortunately, this is extremely common due to how taboo the topic of money still is. Wouldn't it be amazing to live in a world where we didn't have to waste our time applying for a job that's not going to pay the bills? And more importantly, one that doesn't align with our current and future financial goals. Too often, we don't even find out until we've gotten too deep into the interviewing process. Don't let companies guilt you into thinking that it's wrong to "be in it for the money." It's a job, and we all have bills to pay and goals to meet, so don't be afraid to ask about salary and give your personal expectations during the initial phone call.
Many believe that they will be judged for what they make, how much or how little they save or spend, or their job title. Everyone is so quick to show off their fancy vacations, designer goods and fancy social outings, but no one wants to actually talk about how they afford it, or if they even had to. No one wants to share how many hours they had to work to save up for an international flight, or how much ramen they had to eat to pay rent. It's much more glamorous to just showcase the highlights and leave your audience wondering how you do it, but how are we helping others, and most importantly, ourselves? Real life for most people means working a full-time job (and often a part time job) to save up for a car, a house or to even live comfortably. It means going on vacations only when you still have PTO left for the year. Try not to get too caught up in what you see online, because chances are, you're seeing about 10% of that person's life.
Here's a few things i've learned about money:
I can save an extra $2,400 a year by just opting to grocery shop as opposed to eating lunch out everyday at work.
Saving 20% of your income is a great baseline. Personally, being able to save almost 30% of my income is possible because I cut in other areas of my budget. Now that I have taken on another side-job, I will soon be able to save nearly 45% of my income.
Though I sometimes face tough realizations by choosing not to finish college, I'm completely happy and a lot less stressed being debt-free, with the exception of my car loan.
Transparency:
I used to put everything on my credit card, with no intention of paying it off before the end of the bill cycle. About two months ago, I paid off a small medical bill and all my credit card debt that was costing me $200 a month. Now, I utilize my credit cards in order to receive points and build my credit score.
I work three jobs, because I want to meet my goals quicker. Sometimes, I just want to live more comfortably.
My credit score among the top 20% of the population, because i've worked my ass off since I was 18 trying to get it there.
I don't make a ton, but I make it a priority to save as much as I possibly can. If you can't change your situation, take control of it!
I'll be able to buy a house before i'm 28 with the help of no one else, due to my frugal habits. There are some things I miss out on because of this. Sometimes it sucks, but goals certainly aren't going to meet themselves!
It wouldn't be fair for me to write a blog post on the topic of financial transparency, if I didn't contribute some information myself! I hope this helped a few people in taking control of their financial situation, and not being afraid to talk about it. Happy budgeting!
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