Money was never talked about where I was from; we were poor, the last thing that was brought up was money. I believe I became interested in learning more about it through hearing about it from because of my mentors. Growing up, I would always surround myself with mentors who were doing things I could see myself doing. Every meeting I would leave with pages filled of notes. Sometimes I had no idea what they were talking about so I would take my notes and spend hours researching certain topics and getting more informed about what was happening around the world and not just in my neighborhood. Little did I know, these skills would help me when I decided to be an entrepreneur and start my own business. And now when I had to make a critical decision whether or not If I should leave my job.
My situation is different, I believe everyone’s situation is different. I was awarded a full academic scholarship to college so I came out of school with no loans. I’m currently not married or have any responsibilities. Therefore, the money I made working, I saved almost 60-70%. I knew what I was doing saving so much so I kept my expenses very low. Since my job required me to be on the road 100% of the time, I lived out of hotels (that were already paid for by the company). The times when I wasn’t traveling (which was very rare) I stayed at my mother’s mentors home.
Plan and Prepare before you take the Leap
Fear can sometimes paralyze us from making a decision. One of the first things we will begin to do is list all the excuses possible to keep us away from taking the leap. I understand taking the leap can be intimidating but i’m not saying you need to jump of the ledge randomly to chase your passion or goals. I’m suggesting you plan and prepare before you take the leap.
You have to be informed to make the best decision for yourself
It’s important to understand money because we deal with it everyday. How do you know if you’re getting the same value you give. Just because something has a price tag does not mean it’s worth the value. Should we just trust people are pricing products out of the goodness of their heart? I’m just curious by nature so I spend a lot of time understanding the things I do often. I believe if others did the same we wouldn’t be having this conversation. So I’m going to suggest two important things I use to understand money (I use them everyday): Farnoosh Torabi ‘So Money’ podcast and Mint mobile app.
Farnoosh Torabi I met Farnoosh a few years ago when I was a student in college. At that time she was just releasing her book titled: “Psych Yourself Rich“. I didn’t know then that I would love her so much! She even signed my book. I began following her on twitter and in my head we were best friends. She’s literally changed (even more) the way I think about money.
Since I spent most of my time on the road I need to keep up to date with the latest tools, advice, and industry knowledge about money and how to make it work for you. Since I need convenience, I began listening to her podcast “So Money” . (Please go download it, you’ll thank me later.) Also on Fridays she answers your any question you may have about money so please take advantage of this because I know everyone’s situation may be different.
Is money the major factor holding you back from making a career transition? What are some financial tools or tips that you use on a daily basis that’s helped? I’m really curious in hearing your responses in the comments below.