- As a member of the financially miseducated millennials club, I do not sit around lamenting about my inability to save a nickel or to come up with a budget that is realistic, practical and that does not involve becoming a millionaire by next week. I started my first job at the age of fourteen and opened a bank account with my first check. I applied for my first credit card at nineteen and I am well versed on the importance of a good credit score and a decent credit history. I went to college and I took macroeconomics twice! Stop judging me, okay? Thanks. Somehow, I still don't have any money. I don't feel sorry for myself. I charge my perspective on and my relationship with money to how I was educated about it. Here are a few signs that we may be in the same, penniless boat.
- You believe having a mortgage means that you are a homeowner and that your home is an asset.
- You believe paying for a college education with student loans is reasonable and that you'll be able to pay off that debt once you get that ideal income from the job you land because of that degree you just purchased.
- You do not have any skills outside of what you gain from books. You don't know how to build anything. You don't know how to sew. You have no idea how to keep a plant alive or how to fish.
- You believe it's reasonable to spend most of your money on Christmas gifts and all that comes with celebrating that holiday but you've never taken a financial planning course or read a book on budgeting and actually applied it and you don't have any plans on doing so in the near future but you've already started brainstorming next year's ugly sweater party and pollyanna gift exchange.
- You are in debt and don't have enough savings to live for at least 12 months, comfortably, without a job if you had to do so.
- You do not have a zombie apocalypse stash of cash located in a secret location outside of your home.
- You think you're saving yourself money when you shop at Walmart.
- You walk into Target thinking you're going to be able to get out of there only spending money on things you intended to purchase.
- You work long hours to make extra money but you do not invest the money into anything that can make you money outside of your job.
- You have a car note, a mortgage, student loan debt, credit card debt and a job and you think you'll be retiring some day and living life- purchasing Christmas gifts for relatives, taking trips and having dinner parties- all with the retirement money.
Twitter, Facebook and Instagram:@Msfridaynights.