From Teen Jobs to Financial Freedom: My Journey to Planning for the Future
When I was an employee that was about to retire after working for fifty years, I looked back on my life and realized how much I had learned about financial planning. It started from those early days working as a kid—mowing lawns, shoveling snow, and delivering newspapers. These experiences taught me valuable lessons about responsibility, hard work, and the importance of budgeting.
Early Financial Lessons
Leaving my childhood behind, I got my first paying job when I was 12. I started by mowing lawns, shoveling snow, and delivering newspapers. Kids back then were expected to take responsibility, which was a great introduction to real-world financial planning. I saved a portion of each dollar I earned, spent another portion, and gave a portion to charity. This taught me that I made more money the harder I worked, and even more by working smarter. For example, I invested in better tools for lawn care and a better bike for the paper route, which allowed me to increase my earning potential by delivering more papers and completing lawn care tasks faster.
College as a Turning Point
By the time I got to college, I had a cool component stereo system, a paid-for working car, and even managed my own insurance and gas. I began living as an adult, still in college, all while diligently saving, paying bills, and giving financial support to worthy causes. Life has not changed much; it remains wonderful and I am still happy at age 68, debt-free and in total control of my time, which is financial freedom.
Learning Through Experience
During my childhood, I observed my parents budgeting but didn’t give it much thought. In university, I received money from my parents, the university, and the government. I lived in a student town without expensive tastes, making life good. Except for a few screw-ups, I always had enough money. While in university, life was a lesson in delayed gratification—money from uni was paid monthly, so if I spent freely after each paycheck, it was a long time before the next one.
The Need for Budgeting
It wasn’t until my wife left university and got a professional job that I had to learn to budget properly. I was still studying, but the mental shift was significant from “I don’t want to borrow money this year” to “I want to finish the year with more money than I started.” Specifically, we wanted to repay the loan we took out for our wedding. This was not exactly planning for our financial future but was meaningful budgeting for expenses weeks or months ahead.
Graduating and Financial Growth
From there, the time horizon we looked at just slowly increased. There wasn’t a set point from regular budgeting to forecasting; if your regular budget is accurately maintained, linear regression predicts where you will be in a few years. Ten years after this, I realized that I wasn’t happy with the financial track we were on. We projected that we would repay the house mortgage and save for retirement in our fifties, while my wife’s student loan would be approximately zero on the day she retired.
Relocating and Goal Setting
So, we made some changes, relocating to a more expensive area so I could earn more. In terms of learning, I keep coming back to that year after university where we learned how to budget. We wrote down all expenses that were going to hit in the next three months and carefully set aside money for them each week. If you can plan on a three-month window, then extending that to a thirty-year window is manageable.
Conclusion
Looking back on my journey, I see how far I’ve come. From early jobs to financial freedom, my path has been dotted with lessons and experiences. financial planning, budgeting, and setting long-term financial goals are essential for a secure and happy future. By understanding and applying these principles, anyone can achieve financial freedom and security, just as I have.