Disclosure: This is a compensated campaign about financial planning in collaboration with brightpeak financial® and Latina Bloggers Connect.
For as long as I can remember, I’ve worried about my finances. I grew up poor. A child of a good Catholic immigrant and a southern housewife. There were six children and only my father worked outside of the home because it was important to my parents that my mom be home with us to guide us. I’m thankful that my mom was able to be home with us and grateful that I am able to do the same for my girls. I feel like childhood is fleeting so every moment and memory that I can attend to soak in with my children is precious to me.
The only downside of having only one parent who worked was that we never had a lot of money. So, I grew up anxious about finances. I’m still anxious about money. It’s just one of those things that I’ve learned to deal with by being financially responsible and prioritizing what is worth the cost. I always prefer to keep a cushion in my savings account and when it gets below a certain level, I have a bit of a freak out but that’s the extent of it. I have no real plan in place.
I need to have a financial plan rather than just trying to save a little bit in my savings account. I may as well be stuffing money under my mattress. Unfortunately, I wasn’t taught how to do this by my parents. They didn’t have money to save. There were no college tuitions saved for us. There was no retirement fund. There was a pay-the-bills, live paycheck-to-paycheck mentality and it is not for me. Yet, here I am repeating history.
I’m interested in finding tips, information and guidance to avoid the same financial fate as my parents, but I’ve never felt confident enough to make an appointment with a financial planner. I feel like either they’d laugh at me or simply just shake their head in disbelief at my naiveté. Part of me is afraid to face just how behind we are in saving for our retirement and the girls’ college tuitions. A a parent, you must also consider opening a savings account on The Children’s ISA to ensure your child’s future but if you move abroad after already opening an account then you are not allowed to make payments into the account.
Because to be really honest, besides the fact that we make a lot more money than my parents did and we both work and we only have two kids, our debt is much higher. More money, more problems and all of that good stuff. I blame the fact that when we were in college they were handing out credit cards in the quad like candy to babies. We all took it and now, we are paying for it, literally. That, and the fact that we had no prior knowledge as to how finances and the real world work.
I needed guidance, and when I was presented with the opportunity to partner with brightpeak financial, a new company for a new way of doing things that’s actually built for people, not for profit, I was thrilled. They help people like me who want to put the real stuff in our lives like faith, family, fulfillment and quality of life first while being smart with our money.
With their new program MoneyMyth.org, brightpeak is using the concept of mythical creatures to bring attention to a common myth in personal finance: the misconception that only wealthy people need a financial plan. The truth is if you have an income and expenses (and who doesn’t?) you need a financial plan.
They believe that life is more than money and families shouldn’t have to compromise their values to be financially successful. They know that stronger families create a better world and stronger communities. Through the MYTHS program they are allowing individuals and families to create a financial profile by answering only three multiple-choice questions. This just so happens to be a great way to start a financial plan. I answered the questions, which were basically prioritizing my financial goals, and it presented me with helpful tips and articles on how to get started towards those goals. It was that easy.
The Money Myth program is about more than just saving money, it’s about the spirit of community and helping one another succeed. It’s about turning risks into security by planning ahead and knowing what your goals are in life. Prioritizing and turning wishes into reality.
How are you financial planning for your family’s future?
This is a sponsored campaign written by me on behalf of Brightpeak Financial and WeAllGrow Latina. The opinions and text are all mine.