History of the reader: the first generation of White Collar

This post guest from l. Marie Joseph, Monk money is part of the reader stories while accessing rich slowly. Some stories contains general advice; others are examples of how the reader of the GRS achieved financial success — or failure. These stories feature folks from all levels of financial maturity and with all types of income. Mary is the author of the new book, the first generation White collar.

My story is like most other: 16 college girl, a girl goes to the interview, the girl receives job girl uses its cheque to itself. If unable to propose something, I would just charge it. Before long I was the performance of student loans, credit card debts and consumer credit.

In the end, I met my husband-to-be, and decided I needed to grown-up. We went from eating ' who are we at Restaurant tonight? "to" must improve our credit report so that we can meet the requirements for a mortgage.

Perhaps this is because it is from the Caribbean, but my husband appetite for credit isn't mine. I was astonished when we downloaded your credit report: this is a single long page! Its report there were four creditors. Mine is a long six pages. I had jumped in credit, three months after my 18th birthday, started to write until I was 29 and that was only because we were talking about the purchase of a House.

I had a lot of work to do to clean up my credit. Is not my husband. In fact, even though my husband makes less money than I did, its cash flow is far greater. Why? Because he had no obligation. I made more money, but I also paid in interest. This experience made me realize this is how not to do this, but how you can cause. I felt uncomfortable, because although I was making $ 50,000 a year, I had no savings. My husband made less is my savings and has to pay off my debts.

I knew I needed to change.

Started reading books on personal finance and started reading blogs of personal finance. Almost one year later I started my own blog. Personal finances became my passion.

I started saving 10% of my income after reading a millionaire by David automatically. I began setting aside 10% of my income to my 401 (k). I had a mediocre results. Not bad, but not best. Suze Orman I began watching and I realized that more people of my age had more money in their 401 (k) than I did. Hmph! (I) necessary to switch to my rates.

I started to save 15% to my 401 (k). I felt better. I felt as an adult. Also, I started to see the results above average. Money is the mixing and production faster. It was also my ego cultivation.

Today my husband and save 30% of our income

We allocate 15% for retirement savings. We put on Emergency fund (5%). 10% We set aside more for the release or future purchases (depending on our purposes at the time).

It took time to get to this level. In fact, it took us four years to save around 30% of our income. And has become victims. But I have not regretted. If one of us have been laid off, we would be well. We consider a nice savings. We can survive.

Now, I believe that savings is the most important part of personal finance. It can be a life jacket when we are drowning in financial crisis or economic Panikata. Savings gives us freedom. For example, I am able to take my daughter to see his in New Orleans, or to be forwarded to my mother, when she must get away. Without savings could not do these things. Savings buys options you want.

Where can I find yourself shopping or begins to splurge, I repeat this African proverb of yourself: "save your money and one day it will Save you."

I'm very glad I made the decision to be recorded. I'm the first in my family to do so, and currently do not have to show me how to do it. That's why I wrote my book, first generation White collar: for people who are the first family to graduate from College, for people who need a new direction in the management of his new found income. Perhaps they too can find freedom that comes from savings.

Reminder: this is the story of one of your fellow readers. Please Be nice. After more than decade of the blog I have thick skin, but can be scary to put your story to the public for the first time. Remember that this is not the author of professional guest writer and was just training for money, as you are. From now on, unduly Nasty comments about readers stories will be removed or edited.

This article is for books, Reader stories, savings

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