Who in Your Life Cultivated Your Financial Genius?
Most of us can point to someone who played a pivotal role in shaping our financial acumen. For me, the story begins during a time of steady growth, filled with the newfound earnings and support from a significant other. While my husband certainly played a vital role in my financial development, my mother, with her unwavering dedication to saving and responsible spending, shaped much of my financial genius.
The Formative Years
When I started earning a good salary around the time I met my husband, there was no specific connection between the two. We were just at a different phase of our lives - old enough to have secured our careers and confident enough in our financial stability to consider marriage. However, my husband played a crucial role in my financial journey. He encouraged me to use every deferred compensation plan offered by my employer, starting with the 401k and extending to stock purchase and non-qualified deferred compensation. As my salary increased, I continued to defer larger portions, and I never felt the pinch since it was taken off the top. By the time I left my corporate job, 15 years later, I had amassed a substantial savings and the confidence to venture into my own business.
The Foundation of Success
But if there is one person who deserves the lion's share of the credit for my financial independence, it is my mother. Growing up, she instilled in me the importance of saving money, particularly during hard times. She taught me the distinction between what I 'need' and what I 'want', and she set the gold standard with her own example of responsible spending. Even as a child, I observed how she saved money even when times were tough, and how she gave priority to necessities over luxuries. In a world where frugality is often seen as a virtue, she embodied those values through her actions, rather than just words. This lesson in saving was the cornerstone of my financial understanding.
The Power of Role Modeling
The message of saving and responsible spending is something many people discuss but few actually live by. My mother, however, not only talked about these values; she made them her life’s work. Her example showed me that financial planning and sound decision-making could provide a secure future, both emotionally and financially. This early education laid the groundwork for my later financial acumen. When my husband encouraged me to use deferred compensation plans, I knew exactly what he meant. I could see the tangible benefits of putting aside money now to secure a better future, and I felt confident in doing so because of the lessons I learned from my mother.
Today, years after my corporate job ended, I still benefit from those early lessons. My savings served as a baseline of financial independence, allowing me to open my own business with confidence. While my husband’s encouragement was instrumental in my financial journey, my mother’s guidance was the fundamentals that created my capacity for sound financial decision-making. She is, without a doubt, the reason for my financial genius.
Conclusion
Whether it was your spouse, a parent, or someone else who has influenced your financial decisions, it's important to identify those who paved the way for you. Their impact on your financial acumen can be profound, shaping the path to a more secure and independent future. Recognizing and appreciating those who have played this role in your life can provide invaluable insights and motivation for future financial success.