As a college student, you could say that I was okay at managing my money. I managed to have a savings account, attempted to pay my credit cards on time, used student loans to finance my education, and tried to take advantage of every student discount possible. That process worked for a while.
As teenagers and twenty-somethings, we were okay at managing money which meant, we managed to have it if we really needed it. Sometimes this meant borrowing from the family bank. Other times, this meant selling books, CDs, and DVDs to a resale shop. At worst, it meant pawning a beloved item. I am fortunate that I have not had to do that last one; however, I know a few who have.
If you fast forward 15 years later, it seems that nearly all of my high school and college friends are in the same boat. Those dollar signs have multiplied greatly, and we have started to see our neighbors served with eviction notices or weather a foreclosure. Sometimes it meant being served with a judgment for a credit card or getting your vehicle repossessed. At worst, it meant bankruptcy. I did look into that last one at some point, but I decided against it. I’ll explain why in a future post.
How did we get here? Well, it goes back to managing money. As I mentioned earlier, we managed to have it. Unless it was for a pair of great shoes, concert tickets, or car stereo, rarely did we plan how we would use our money – wisely.
This blog is going to talk about friends helping families save money. For me, my friends are also my family. Their financial well-being definitely impacts me on a regular basis since it pains me to see any of them struggling. Hopefully, we can start a conversation about saving money and helping your family tree become debt free.
Debt Free Family Tree 