~This post is made in partnership with Genworth Financial. Opinions and stories are my own and are not influenced by any form of compensation.~
I was never really good with my finances. My mom who had been on her own since she was 15 and later raised 5 children by herself, understood the importance of financial education and did do her best to teach us. I remember sitting at the table in the early weekend mornings, getting our allowances dolled out with the understanding that it was for a months worth of our wants and needs. It was to teach us the difference between the two; which was more important or the sacrifice of desires over necessities. Unfortunately, I never caught on and when my sister and I eventually needed more money for our ridiculous habits (I loved sugar) we got jobs as papergirls, even got our own checkbook.
I always had a job and I always didn’t have money. These two things seemed to go hand in hand. My first real job was when I was 14 and I worked at a nursing home with my grandma. I made $4.75 hour and I helped pay the phone bill because in the old days there was no free long distance. Sometimes I helped pay for other things and the rest kind of went down the toilet. I worked everyday since my first job as a papergirl, floating through the nursing facility to window washing to fast food and factories, eventually winding up with my own desk and my personal phone line. Had I grasped the early education my mother had taught me I would have had a great deal of savings prior to my venture off into single motherhood, unfortunately, I have a tendency to learn the hard way.
There was an article written about Women and Finance on Yahoo Finance that talked about a study on how as women age we become more financially literate. This is due to the fact that women generally outlive their husbands and as the husbands are generally the financial overseers, it becomes more important as age catches up. Though I got to thinking about my past and how my life could have changed just by understanding finances and how perhaps if we didn’t wait until our retired years to decide to become financially literate alongside our partners (or by ourselves) then it could drastically change circumstances in the present time.
At least that is how I imagine it.
The truth is, my husband is extremely financially literate. He is forty steps ahead of everything and despite the fact that he lost his career, has been through multiple temp jobs and it took him almost two years to find another job – he has kept us financially stable from making great decisions in his past that has floated his current future.
This has made me realize that I would be lost without him, especially having been a stay-at-home Mom and out of the workforce for the past 6 years. With the job market the way it is, the economy as it stands and with two boys, it has never been more important to begin becoming more financially literate now in order to protect our family in the future.
What do you think?
- Do you feel you are financially literate now or are you still learning like me?
- What concerns do you have about your financial future?