Part 2 of 3: Money it Up
Dive into part 2 to discover my experience with money and podcasts. As they go hand in hand, I reveal my method for getting out of debt and the importance of finding motivation. Shout out to everyone who has been so supportive! Also, sharing the emails received so far. Having trouble with money? Feel free to get in touch, sincerelyyours@writeme.com Includes "Red" Red Album by Taylor Swift and "Les métamorphoses du vide" 613 Album by Chapelier Fou
TRANSCRIPT
Cece Denno:
Back in Joe’s Moms basement this is Sincerely Yours, I’m your host, Cece Denno.
Intro Music
Cece: Hey yawl welcome back to Sincerely Yours. Now we’re moving on to part two of my three series. Now I do have to admit this is a bit of a strategy for me for I can make sure that with a little motivation to get two more episodes out. Like you heard in the first episode of part one we focused on career and how important that was; and now we’re moving on to money. You know money is a funny thing, whether you choose to pay attention to it or ignore it it will be there; regardless of how you feel. I believe that once you do have a handle on your financial situation you begin to enjoy life much easier. I am going to go ahead an go through my experience with money and sort of relate maybe if there is someone out there that wants to focus on their finances and have 2016 be the deep dive into the way that they handle money the way that they treat money please contact me. I am more than happy to help, always giving tips always talking about financial podcast, and you can email my address is sincerelyyours@writeme.com.
Once upontime it was called 2012, I was working in my professional career for about 3 years and I was making nothing. Stuck in dead jobs as your heard before but it really hit me hard to realize that I was putting in so much work for absolutely such little benefits. Let me back track. I had gone to school, and I was fortunate that I did not graduate with any student loans all thanks to my parents, and I started my first job out of college making $32,000 a year. It was a very hard reality coming from unlimited supply of money and having everything taken care of, food, gas, rent everything, and that fall, after graduation, fall of ’09. It was definitely a hard reality - realizing I had to pay for rent, and gas, and alcohol, and food, and everything that you would need to survive obviously. I was driving up, I had a commute of 40 minutes, until I decided that I couldn’t afford to work at this place anymore. I couldn’t afford to drive here everyday, much less afford everything else. I was looking into the city and I got a job. My second job in insurance and I was so happy to be making $36,000 a year. With all that, obviously I had gotten into a little bit of credit card debt. Somewhere along the lines I spent about $1,900. I realized with every paycheck, it would be one paycheck going to rent, one pay check going to my credit card bill. I am always paying something off, or paying for rent. I had a strategy in place. One month, I’m going to pay the minimum amount then I’ll be able to have cash on hand and be able to pay for all my expensive that way. It actually, was a huge change for me, because I wasn’t putting food on my credit card, going out for drinks. I was sticking to the cash I had in my bank account. Little by little, I was paying off this credit card debt, it was finally like November of 2011. I had been in one terrible job and I had been working in this other terrible job. A friend of mine Claire was moving to Turkey, and I thought - that is such a great idea. I’d always dreamed about moving back to France, as you’ve also heard. It really kicked my in the butt to get things going so, I was thrilled. I had that paid off and I could finally see things building. The application period for France went through that January and we found out in March if we were to get in. Either way if I get to this French program, and I’ll have job when I get there, or I’ll move to Turkey, either one; coming next October I will not be here. I will not be in Boston. Though, it was very eye opening the motivation I had the focus I had to get to France. I had set and initial goal of having $10,000 by the time I would be leaving for France. I could not have saved anything more than I initially planned for. I was cutting, I stopped going out, I stuck to a budget when I went to the grocery store. I was able to end up saving every single penny that I had. I was working overtime, I ended up getting a second job at sushi restaurant. I was so focused on my goal, and outside of a very large car repair bill, and also I had a cat. I was shy of my goal of $10,000 but I did finish that September with $8,400. I would have to say that is pretty impressive because outside of rent, any unnecessary spending was absolutely cut. I really feel that because I was so highly motivated I was able to accomplish it. I was in France, and I was paid a stipend, of 800 euros a month, which covered my rent, which was 107 euros a month and enough for groceries and everything like that and enough to hold me over and not have to dip into what I had saved. Of course I’m coming back from France and I start working an hour outside of where I live. Feel into some really bad habits. I was driving so much trying to get to work I ended up buying a new car, I started charging things I was traveling all the time, and suddenly out of now where I had $4,300 in credit card debt. Now, it was a hard reality, considering when I had this job I was making more money than my old job, and at the end of the month I was only able to save $300. Which, when I was working in the city at my terrible job, before I left for France, I was able to save over $600 a month. I finally realized because I was commuting 2 hours a day, I have a car payment now that’s an added expense. It was just so easy how everything builds up.
Let me tell you what and hour commute feels like its a lot of this: ( sounds of tires over the highway)
And a lot of this: (car horns honking)
And definitely a lot of this ( Taylor Swift ‘Red’ plays)
Now don’t get me wrong I absolutely love Taylor but you can only take so much. That’s when I started exploring other things to listen to and that’s when I discovered podcast. There were some of them that I came across initially. Just lively, A way with words, and Freak-O-Nomics One day I was uploading more podcast to listen to and I was on the Freak-O-Nomics and I looked to the side, and that’s when I discovered this … (Intro Music to Listen toMoney Matters plays)
Now the world of personal finance was completely new to me but it was so easy to listen to Matt and Andrew, it was so easy to have an hour episode of Listen to Money Matter on and I became so enthused about the possibilities. When I saving for France on my own, I wasn’t using any methods I was just thinking I need to save as much as possible; and what can I not spend my money on because I was so highly motivated to get to France. Desperately wanting to get out of my dead end job, it was funny to think I used several strategies to get there but, now with all this credit card debt I found a new motivation. Everyday to listen to Money Matters it became so much of a driver to put my money where it needed to go best. Initially first I paid off my credit card. It was so surprising because that was within - until December; August 2014 - until December. It really shed a lot of light on things. I was just so busy, it was so hectic driving to Worcester driving back to always having to be so cautious. It was in my head, I love my job in Worcester, but what’s it really worth? I’m driving there everyday I have to drive back, until I started looking for another job. Not a serious search at all. I applied to three positions in three different companies, and I got two offers. Of course, I went to the one that felt best, and felt more comfortable, it was just so easy taking out that expense, driving to work everyday. It would cost me literally $15 dollars a day to drive to work. It was $100 in tolls, $200 in gas. It was all money that I could be saving. It was a sad moment, even though I love my job in Worcester, but I had to look at the finances; and I love my job now in the city. That’s where I am financially, and good news to report 2015 completely stayed out of credit card debt. I do have my car loan, and I go back and forth it is at a APR rate of %1.99 which is really good, but at the same time it would be nice to free up that cash every month, but I’m still on the fence on things. So here I am hundred and hundred of hours later of financial podcast which include:( List of financial podcast). Now I may not be a financial expert but I do feel like I have a good sense of things, being in debt being out of debt the way and the motivation to go and where you want to go, I definitely have your back. So please contact me. You want to set up a budget? We can do that. You want to learn how to pay off your student loans? We could do that. Anything in relation to money, where to reach me that’s sincerelyyours@writeme.com. Now from some exciting news I actually did get some emails. I’ve gotten two emails so far. The first from my friend Katherine. ( reads email) thanks for the email Katherine. I did receive another email and that would be from my mom ( reads email) Hi mom. thanks for your email. If you send me an email I’ll definitely read it on my next podcast. Again, that sincerelyyours@writeme.com. Again I just want to say thank you so much to everyone for your support it is greatly appreciated. It is surprising and unexpected but it gives me so much motivation to move forward and of course just to throw this podcast was supported by (whispers) this is where the sponsors are supposed to go. If you're interested in Sponsoring Sincerely Yours please feel free to get in touch with me. That should be it. First part one Career, part two Money, part three can you guess? We’re talking about LOVE!
Outro music.