When I was just starting out on my own, there were many things going on in my life. I was learning what bills where and how they worked and how credit worked as well. I had a mindset of “how much a month”. If the amount was less than I could afford, I would do it and think that I would just pay it off over time. I was starting down that path of preventing my future self from being able to take action sooner.
I was young. I was only around 21. By thinking that I was an adult, I worked on trying to gather all the “things” that I thought adults needed. I rented an apartment, financed dishes because we had to have them, financed a vehicle because I couldn’t afford to pay for one, opened up credit cards for consumer goods like a TV and other things to get my lifestyle up so that people didn’t think I was broke, among other things.
I think some of it comes from thinking I am going to be around forever. When we are young, we don’t really look at retirement as a real thing. I know I thought it was just a thing that I could save for later on. I didn’t feel any sense of urgency or anything like that.
Hi, my name is Steve Goodwin! I’m very passionate about personal finance and teaching people how to beat debt and build wealth using the Dave Ramsey baby steps. If you find any of my information helpful, please don’t hesitate to reach out to me and let me know! I love interacting and helping people out with their budget!