Gratitude Journal – Day 4 -Financially
It is said you should not talk about politics, sex or money in public settings or with people you do not trust. I have had people absolutely freak out in the past when I have asked them how much they earn. I suppose given I am Gen-Y, I really did not consider it to be a rude question, I was curious, I also never became jealous at someone else’s wage. We weren’t doing the same jobs, we had different industries and qualifications, why wouldn’t I just be happy for my friends?
In terms of gratitude, I might take a different route here.
I am thankful for how my parents taught me too look at and deal with money.
We were not rich, my parents worked two jobs each at any one time and my Mum was back at work within two months of having her babies. They worked so hard. They did not complain about it, it was instilling in us that there are no hand-outs. If you want something, you need to work for it.
When I was 14 and 9 months I started working. Here in Australia and back in 2001, that was the age you needed to be to start working. My parents had pretty high expectations of me in terms of being accountable with money. My first pay week I was paid $64 (such a strange thing to remember eighteen years later).
I remember paying $40 for a Billabong school bag, I bought a coke and a couple of magazines and that was that, pay gone. Yes, I said school bag. I had an old bag from a proper bag shop but I was 14 and I too wanted a brand-name bag. It was sky blue and gorgeous. It was completely impractical, squashed all of my things and was not comfortable but I was so proud that I had paid for it.
The next pay Mum and Dad let me know I would need to pay board weekly, buy my own toiletries and anything else I wanted. I had so many people around me freak out about this. They thought my parents were being unfair. Which they weren’t.
I have had a budget since I was 15, I know what needs to go where and when. I had an ING account at 16, long before it was easy to do so. That’s not to say I have been super responsible with money, I have absolutely blown the budget, ended up in debt, paid interest rates which would make your eyes water and purchased a stack of sh*t I in no way needed.
I’ve also travelled around the world. I own my car. I have a few clothes, not from k-mart and I have a photography kit I am very proud of. My spreadsheet is still going strong, I manage my money well, and I have such a healthy appreciation for working for your money.
I work my butt off, I have my side business selling accessories for a very small profit which I donate to charity. I married a man who treats income and money the way I do. We have goals and plans and we know that we are the only ones who will achieve them.
The world owes you nothing. You are responsible for your own financial situation. Of course, I am not including anyone who has been the victim of fraud or who has been financially dependent on someone and had that taken away, but from two people who were raised by four people who still work their arses off to live the life they want, just know that you can do it.
My tips *not at all endorsed by any financial advisor or with any actual technical knowledge*
- Short-term payday loans are a horrendous thing. Do NOT do them. You will absolutely screw your credit rating and if you are not diligent in your repayments you are looking at incredibly high-interest rates.
- Afterpay is NOT responsible for your debt. You are. Afterpay has been set-up to provide a take-home lay-buy service. You read the T&C’s, signed on the dotted line and committed to your repayments. If you end up taking on more than you can repay, then I am sorry that’s on you. It is not a financial ‘trap’, there is absolutely no additional money you need to fork out if you make your repayments on time.
- Do not avoid debt collector phone calls. They are legally obligated to strike a deal with you to repay your debt. Ignoring these calls does not make the issue go away. It becomes more expensive and you are seriously jeopardising your credit rating in doing so. Take the call, accept responsibility and come to an agreement.
- Do NOT declare bankruptcy there are always steps before this. Declaring bankruptcy may seem ideal because in some circumstances they ‘wipe’ your debt. Do you know what else is wiped? Your right to travel internationally, work in any insurance or banking field or obtain any credit for who knows how long!
Ask for help, speak up – contact your bank. As for extensions, ask for help. Stop taking debt. Know that you have choices, always.
x Courtney x