Hey everyone, I wanted to share my experience with budgeting and financial literacy. I’m forty now, and honestly, I’ve been lucky to work in a career that helped me save up, buy a home, and live a pretty nice life. It’s wild since I graduated right before the financial crisis hit, which really set back a lot of us millennials. Growing up, my family was mostly living paycheck-to-paycheck. One unexpected bill, like a car repair, could throw everything off. My parents worked super hard and did their best, but I didn’t really learn about budgeting from them. They made smart choices in some areas, like paying off credit cards by their mid-30s and avoiding them after that, buying a modest home that is now paid off, and putting away some cash in a 401(k). But it wasn’t until I hit my early 30s that I realized I needed help. I ended up hiring a financial advisor because I didn’t have much financial literacy. That turned out to be one of the best investments I made, and now I feel like I can handle things on my own. Anyway, I see a lot of folks on this forum seem to fall into two distinct camps—those focused on managing what’s in front of them, like bills and immediate expenses, and those planning ahead, thinking about future needs and how to maximize their finances. I definitely grew up in the first group, while I’ve now transitioned into the second. It’s just interesting to see the differences in how we approach money. A really nice twist is that my mom started using the budget sheet I made for her, and she’s found it eye-opening. This surprised me since I always thought they were good with money, but it really shows how keeping track in your head just doesn’t cut it. If my budgeting can help stretch their retirement savings, that feels like a huge win to me
I totally relate to this. I grew up the same way, work really hard but never knew how to budget properly. Just figuring things out as I went along… it’s tough.
Luca said:
I totally relate to this. I grew up the same way, work really hard but never knew how to budget properly. Just figuring things out as I went along… it’s tough.
Same here, managing everything as it comes can be super stressful. I feel like I need a financial advisor too tbh.
@Oaklan
For real! I didn’t even know where to start. I’m glad it helped you out. What do you think you’d want them to help with?
Luca said:
I totally relate to this. I grew up the same way, work really hard but never knew how to budget properly. Just figuring things out as I went along… it’s tough.
It’s refreshing to see how people are trying to improve their financial knowledge. I’m trying to learn from friends more, but it’s a process.
My parents were very frugal too, but I wish they’d taught me more about long-term planning. It’s a different game when you start thinking years ahead. I get tripped up sometimes just focusing on today.
@Chen
Yeah, that long-term planning thing is no joke. How do you even get started with that? I feel lost when I think about retirement stuff.
Tallis said:
@Chen
Yeah, that long-term planning thing is no joke. How do you even get started with that? I feel lost when I think about retirement stuff.
Idk, I think it’s about making small steps, like setting aside a little each month? Or maybe learning about investment options can help?
@Chen
Being frugal is good but there’s definitely a balance needed to go beyond just living paycheck to paycheck.
I feel like I’m still in the camp of managing what’s right in front of me. It’s hard to think ahead when you’re just trying to cover the bills each week.
Wolf said:
I feel like I’m still in the camp of managing what’s right in front of me. It’s hard to think ahead when you’re just trying to cover the bills each week.
Totally get that. I think it’s brave to reach out for help like you did. Hiring someone sounds like a great way to find a path to managing finances.
@Zorion
Yeah, maybe I should consider it too but just have that worry about the costs of a financial advisor.
That’s so amazing that you could help your mom with that budgeting sheet. It really shows how we can keep learning no matter our age!
Weston said:
That’s so amazing that you could help your mom with that budgeting sheet. It really shows how we can keep learning no matter our age!
Agreed, it’s like a lightbulb moment for them! Even if they seem good with money, there’s always more to discover.
I always thought being frugal was enough, but I’m realizing now that it’s also about planning for later. I get nervous about not knowing what to do with savings.
Orion said:
I always thought being frugal was enough, but I’m realizing now that it’s also about planning for later. I get nervous about not knowing what to do with savings.
Totally! It’s tough trying to figure everything out. I guess we just gotta be proactive and find ways to learn, right?
@Rowan
Right? But it’s overwhelming sometimes. I wish there was a simple guide to follow or something.