Being Open To Change
I’ve found that talking with others about topics like music, food, sports, and kids, can really provide a fun opportunity to share and connect with someone on more of a personal level. But some subjects can bring about defensive feelings of being judged, or even a feeling of a lack of knowledge. I used to feel uncomfortable when finances were discussed. I avoided the subject with others rather than research it myself. Other topics seemed more relevant and applicable. I was able to pay my current bills, and that’s all that really mattered.
However, as I’ve learned more over time, I’ve felt increasingly comfortable talking about money. Reading books and blog posts, listening to podcasts, and especially talking with others gives me the confidence and insight to make positive changes in my own life.
One of the biggest changes I made when it comes to my financial journey was how I treated my retirement account and in turn thought about my future back in my job out of college. I found out that my employer was taking out three percent of my paycheck and matching it. I was fine not doing anything about this account, and even wondering whether this money needed to be taken out of my paycheck to start with, as it didn’t seem very relevant to my life in my twenties. I never had looked at previous retirement accounts, and I seemed to be doing just fine. Couldn’t I just think about retirement when I got in my 40s or 50s or 60s?
However, I had remembered my friend (Scout) talking about retirement (or was it investing) in a previous conversation and he seemed knowledgeable and willing to talk. So, the next time we talked, I decided to ask him about retirement accounts. He had probably talked with me about these previously, but I might not have felt it applicable to me since I didn’t realize that I had actual money in my own account and that this might be something that could actually make a difference in my life. He could tell I was interested, but he didn’t go on about it, or talk over my head. He shared some basic personal insight and several very beginner book recommendations, and assured me that he was happy to discuss any questions I had. With this knowledge… I did absolutely nothing.
But eventually after more conversations and reading through one or two recommended books, I decided to change my financial journey. I figured that instead of just living in the present, I would start thinking about my future. The calculations showed what a big difference investing a little extra now would make for the future. I learned what a mutual fund was, a little bit about diversification, and what types of short term and long term risks are present with investing and not investing. I found out what options were available through my retirement account, and finally changed the funds I was investing in, and was actually excited to consider which funds I would invest in going forward and when/if I would be able to set aside a larger portion of my paycheck.
My mindset had changed about money, investing, and my future. I was now creating a foundation, from which I would build knowledge and grow over time. Now my money future was something I started to factor in when making decisions in my life.
I definitely wouldn’t consider myself an expert in personal finance, but I’ve learned enough to understand how much someone’s life can change when they’ve got a handle on their finances. Each person’s financial journey encompasses a different past and present, which is important to remember. But also, the future trajectory can change dramatically from a seemingly small change, as I’ve seen in my own life.
So, when I finally started to care enough about my financial future to take action, I learned, became open to change, and made the changes that have helped me become more financially sound. I’ve continued to listen, learn and modify my approach as I read and hear more stories and perspectives. I encourage others to share their money histories and perspectives with others, and also to be open to change through research and discussion with trusted sources.
Reader Questions
- Can you think of a time when you’ve helped someone else’s financial future? How did it feel?
- Do you have a trusted personal finance resource?
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