Every experience we go through – good and bad – shapes us, makes us who we are.
The flip side of this is that we have somewhat of a blind spot when it comes to things we haven’t experienced. For me these include:
I graduated into a recession. Yet I haven’t struggled with unemployment so far and I don’t think I’ve interviewed for a job I didn’t get (career wise, not counting the part time jobs I held before starting my career!) I know it’s not easy and have seen others around me deal with unemployment but I have not personally been through it, and thus am probably not as understanding or empathetic as I could be.
Lifestyle inflation/mindless spending
I’ve never been much of a shopper. I worked in journalism for a few years, so pay rises weren’t exactly a thing. When I changed paths to make more, I had an unemployed partner, so we weren’t exactly rolling in it. These days we spend a little more on groceries (hummus, fruit and cheese ain’t cheap) but it’s really just having pets that I would put under the ‘lifestyle inflation’ bucket for me.
Student debt isn’t as insane here as in some countries, but student loans are still a significant burden for many of my peers. Thanks to my scholarship, I simply don’t know what it’s like to graduate with a huge debt load knowing it would follow me through my twenties or beyond.
The notion of being stuck in a lucrative job simply for the paycheck is not something I have experienced. I don’t imagine I will, either. It’s worked out so far that I have loved all of my jobs and I hope to maintain that to a healthy degree going forward. Earning more is a goal – but not purely at the expense of maintaining balance in other aspects of what makes a good job to me. Will I retire early? Don’t imagine so, but that doesn’t worry me.
More money than time
Time is absolutely a constraint at times. But money has always been the bigger factor. That’s my reality, and the reality for most people around me.
My parents are ageing. Luckily they seem reasonably healthy so far and they are not financially struggling. Rather than me needing to worry about their retirement it’s more a case of them worrying about my financial future in today’s world.
So, what DO I know about, then? (For any of the above, there are many blogs that cover each of these subjects – bloggers who are reformed shopaholics, bloggers who are financially responsible for extended family, bloggers who have jobs that pay very well but which they loathe, etc.) I guess the stuff I cover here includes:
Being a female breadwinner
What happens when a saver meets a spender? It’s been a process, through various iterations of joint vs separate accounts, paired with sporadic employment, etc. Probably got another on this in the pipeline, too…
The struggle to find balance
I am terrible with balance. I tend to get obsessed with things for a little while and burn out. Right now it’s balancing my mortgage against other financial priorities. In the near future it may be next career moves: making more money vs work I enjoy that isn’t too stressful.
In relation to the saving vs earning more spectrum, you’ll find me leaning toward the latter. As a naturally frugal person I’ve never really come across any groundbreaking saving advice. What’s dramatically altered my financial trajectory and pumped up my financial security is making more money. I still worry about the future, all the time! But I am less worried than I have ever before.
What about you – what are your areas of financial expertise and weakness?