Growing up in a very old school home environment we did not talk about money. We did not talk about salaries, bills, or savings. Everything I teach was NOT discussed and if you brought it up you got in trouble. Needless to say, when I finally went out into the great big world, I did not know anything about money management. I did not know how credit cards or loans worked, and I got myself in trouble! Everything I know about financial literacy I know because I did it WRONG!
Eleven years ago, I started my personal finance rehab. I started paying attention to my credit and making sure my bills were paid on time. I still occasionally make an impulsive purchase that maybe I should have waited on, but my finances are strong. I have retirement, savings, and a strong credit score. I have two children that know WAY more about money than I ever did. My eldest son has a savings account that he has money automatically transferred to each pay check and he is building credit. I’ve always been very open and honest about money with my children.
Professionally, I tell all my clients they are not their mistakes they have made with their money. You can feel like a failure when you don’t know how to properly manage your money, but you can learn how to, and I am here to help. It takes time and dedication, but it’s so worth it.
~ Sarah Ellis, AFC®