7 Financial Lessons That I Have Learned (With Stories)

*This post may contain Affiliate links. All opinions are my own.

We all have crazy (or funny) stories of stupid stuff we did when it came to money like using up your first paycheck on games or clothes.

Hopefully you gain some insight from these and I hope that my solution to these problems help you solve any problems that you are having.

Anyways, I got some stories for you and hopefully you’ll find them to be true or helpful or just plain funny. Either way, enjoy! 

 

LESSON #1:  Money Should Never Affect Other Parts Of Your Life

I am a firm believer that you shouldn’t let money affect your friendships or how you experience life.

If I’m gonna buy something for a friend or give someone money, then I do it as a gift to them and not some sort of financial agreement.

I’ve given my friends money and bought them stuff, and a lot of the time they’ll say “I’ll pay you back” or “What do I owe you?” to which I always respond “Don’t worry about it,” because I don’t wanna deal with damaging my relationship by making it into a financial one.

It ain’t worth it!

Furthermore,  money shouldn’t affect your life experiences to the point where you’re giving up fun to save a few bucks!

I’m not saying that you should go out and just blow your money on something insanely expensive.

I’m saying that you should do what you want to do at the price your willing to pay. Meaning that if you want to do something then do it for as cheap as you can possibly find it. You could even go on vacation for just a few bucks! 

You want to travel?

  • Become a WWOOFer!
  • Or go CouchSurfing across the country!
  • Become an Au Pair!

Want a nice spa treatment? Groupon has tons of deals including massages and other spa like stuff for 50% off or more!!!

Want to learn a new skill? Again, Groupon has classes that are originally priced at $300-$500 for only $10 (I’ve bought a few for myself).

(A little Tip: If your gonna buy something from Groupon then go through the Ibotta app and get up to 10% back on your purchases.)

What I'm trying to get at is that there are so many services that will help you do what you want to do at the price you are willing to pay for them.

Fight for what you want, and son't stop till you get it!

 

LESSON #2: Always Keep Track Of Your Spending

When I opened up my first bank account, I didn’t take the best care of it. I only occasionally looked at it to make sure I didn’t overdraft but that’s not the worst part.

I have a horrible memory…

It’s so bad that if somebody told me that I have the memory of a squirrel then I would tell them that that’s insulting to the squirrel. Yeah, it’s that bad.

So a lot of the times when I looked at my bank account, I would wonder where all my money had gone.

I’d have mysterious expenses and it would take me forever to remember where they came from, but there were also mysterious expenses that I would never remember where they came from.

This kept on happening for a couple months until I was working out my budget and realized that I didn’t have a strong grasp of what my expenses were, and I certainly didn’t know where I should be cutting back on.

So I downloaded this really simple app (I recently upgraded to Mint and it has been incredible)  and kept track of my expenses that way.

Every time I use my card now, I log in the amount and what it was spent on.

Now, there’s not a single moment where I can’t go to the app and figure out my expenses or make sure that my bank accounts match up with what I recorded.

It certainly takes a lot of stress off my mind!

I’m certainly glad that I started it as early as I did too. I can’t imagine what would have happened if I had been a victim of fraud during that time.

 

LESSON #3: It’s Okay To Splurge Every Once In A While But Not All The Time

There are times where we really gotta work our tails of and save, but there are other times where you can just take a break and relax a bit.

You gotta take a break every once in a while, and do what makes you happy.

What you do to splurge is up to you, and depends on who you are.

Maybe you go on a shopping spree, and if you don’t get enjoyment out of shopping, then maybe a long walk somewhere quit is more your style.

Either way, you deserve a reward for hard work.

You deserve to spend the extra $30 bucks for a new toy, and you deserve the ability to go to your favorite places and just relax.

You got work to do, and your work is important to you; but don’t forget to treat yourself every once in a while.

 

LESSON #4: You Gotta Be Willing To Do Tough Thing During Tough Times

Tough times are gonna come around. It’s inevitable. It’s life. It’s what shows us what we’re really made of and hopefully, we’re made of steel and not jelly.

When those tough times come, we often have to do tough things like take an extra job or sell the car.

Sometimes those things don’t worker and you gotta do even tougher things like move back in with your parent or taking risks.

I remember being a kid and living in a trailer with my parents and 2 older siblings. Being the youngest was tough but it was a heck of a lot easier for me than it was for my parents.

After all, they were the ones dealing with trying to take care of us, feeding and clothing us, all while working long hours.

In fact, the place where my dad worked allowed for overtime pay so he would work really long hours and then come home only to fall asleep.

For the first 8 or so years of my life, I remember being with my grandparents a lot to the point that I practically lived there because my parents were working.

My mom will say little things about back then and I’ll learn things that I never knew that she had to deal with like trying to feed a family of 5 on a budget of only $200 dollars a month. That’s $10 a person per week!

That’s a lot of toughness for 2 people to deal with but they worked those long hours and did what they needed to do so that now they can live without all the financial panic.

It really reminds me of this one quote:

“If you want something you have never had, you must be willing to do something you have never done.”

It really inspires me to get do new things in order to get out of my current problems because you can’t accomplish something new without doing something new.

 

LESSON #5: Just Because You Can Afford It, Doesn’t Mean You Should Buy It

There was a time period in my life where I was hooked on getting deals on things. Games, movies, clothes, electronics, everything!

If there’s a deal on it then I wanted it.

Now, I got a lot of really good stuff for cheap or even for free, but I didn’t really want any of it.

I wanted it in that moment so I got it.

Soon enough, the stuff all piled up and I was living in a very small, cluttered room.

I didn’t even have space to walk to my door from my bed.

Well I grew very, very, very tired of it, and after weeks of dealing with all this junk, I had a total purge.

Looking back on it, I really wish I had resold some of the stuff but I honestly don’t think any of it would have sold well anyway.

Anyways…

Now when I do go shopping, I ask myself one question.

“Will I get bored of this?”

If the answer is a yes, or even just a maybe, then I won’t buy it.

I have significantly reduced my spending because of this to the point where I don’t really go shopping anymore unless it’s for groceries.

 

LESSON #6: You Can’t Have Your Cake And Eat It Too

You can't have the best of both world. 

Life is surrounded by sacrifices that people make on a daily bases. Whether your sacrificing your time to build a business, or sacrificing you desires to keep a few extra dollars in you pocket.

There aren't a lot of things that someone can do with out sacrificing anything (In fact, I can't even think of one) but I think that's a really good thing.

Sacrifices are what build us up and make us who we are.

Without sacrifices, we wouldn't be as proud when we do succeed in something that we've surrounded are life in.

Sacrifices are necessary when you really want something, so if you want to eat that cake then eat it.

 

LESSON #7: Life Is Too Short To Worry Too Much About Money

Money is important.

It’s what allows us to eat, drink, obtain shelter.

It’s what determines how we experience life.

At least, that’s what I hear a lot of people say, but I think that’s BS.

Sure, Someone traveling with $10,000 to spare vs someone who only has $100 or even just $10, it’s going to be 2 completely different experiences!

The one with $10,000 could take a plane to his destination and could easily afford a hotel.

However, the one with $100 or less might only be able to take a bus, and will probably have to hitchhike most of the way, and they will have to couch surf in order to just have somewhere warm to stay.

It will certainly take far longer for the one with $100 to get to their destination but the point is that they got there.

So if you’ve got somewhere that you want to be, then go there.

Life is too short to not be there.

 

I’ve Got A Question For You!

What lessons have you learned about money?

Come on and chat with me. I’d love to hear your stories and see what you had to learn the hard way. 🙂

Farewell, Workers!

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