I realized that personal finance had to become a priority during my senior year of college. I had part-time jobs and summer internships, which helped me earn money, and I had several conversations about gas prices and budgeting. Yet the nuances of personal finance did not concern me.
Long gone are the days of just focusing on how much I needed to save for a spring break trip or buying a new outfit for a popular event. I had to start thinking about building an emergency fund, investing in my retirement, health insurance, co-payments, and other adult things.
After starting my full-time job, personal finances became an overwhelming topic. I had frequent, transparent conversations with friends about how much things cost and whether they were a good fit, what credit cards people had and why, rent prices in our city, and how much we should invest and save. I also started reading books and watching financial content to deepen my knowledge.
I’m incredibly grateful for the conversations I had and the information I learned, but I quickly realized that I felt behind and unsure of what I was doing, so something had to change.
Taking stock of my finances forced me to step back and look at my situation. I believe it is important to take inventory of where you are now and where you want to be. Everyone has a different money story, and that’s okay.
With so much personal finance information, I focused on identifying my financial goals, what I enjoy, and how I want to live my life. It helped me adjust how much I wanted to spend on different things throughout the month and my financial goals which fueled the content I engaged in and increased my confidence when talking about money with others.
It’s a scary time to be in an economic environment where you constantly talk about a recession, being told the average Gen Z student debt is $20,900and 73% of Gen Z says it’s hard to save. However, it is liberating to decide how I want to approach my finances and what resources will help me get there.
* Disclaimer: This column does not serve as financial advice, but shares the personal experiences of the author.