Why Flourish In Finance
Like most things in life, these events come from a place of need. I need this. Which means there’s at least a handful of other people which need this too.
Up until recent years, I’ve had difficulty finding words to describe how I feel about finance.
I like working. I like having money. But I also like spending money. Which comes with a level of guilt.
I also know in order to have the things I dream of I need to plan ahead and save. For me this comes in form of automatic deductions because then I don’t have to worry about it. But what happens when I do get a lump sum…It seems daunting to face or approach — I don’t want to make a “mistake”.
This brings me back to the need, the need for financial conversation and education without guilt or shame.
I see the world of finance as a game of golf — at 17/18years old very few are playing the game but by 24/25 everyone is out on the links, and you’re left wondering “when did this happen”. I feel this way about finance.
Depending on your high school you may or may not have had a CALM class (don’t even remember what it stands for) but essentially a “welcome to adulthood” class. This happens in grade 11 (15/16 years old). To be honest, I barely passed because it a) I did it online and b) I saw it as irrelevant. My “budgeting” included at $300 pay cheque and a $40 phone bill…by those standards I was rich. I could spend the rest on whatever I wanted… usually Starbucks (some things never change).
But by 24, when you (or those around you) start “growing up” aka, graduate school and start getting married and buying houses you wonder, how did they do that? with what money? What’s an RRSP? Is this what people learn in university? Was there a course I missed out on? And if you’re like me, by then the shame has already set in and you feel dumb for not knowing and afraid to ask the questions. (by the way, no there’s not university classes LIFE FINANCES 101)
While it would be easy to “blame” money problems or your level of financial knowledge on your parents, there is an element of responsibility you need to take on. While I think it’s important for parents to educate their children on finance they are learning too from their past and lessons learned. When I look back, my parents were great with their finances, tried all sorts of tools and techniques to get us engaged with money — but based on their history and experience, they’re on the more conservative side.
It was hard in my early twenties, as being a spender and finding myself on the hamster wheel of “working to pay off” it brought guilt and shame, not wanting to go to my parents for help. Navigating this was a hard challenge, because it’s easy to say “just save” but it’s hard when it’s a habit. And in a household full of savers, I felt like the black sheep.
My rude awakening was when I was 22 and I had a bill come in saying I paid off the minimum balance it would take me 22 to years to clear it off completely! That was my lifetime over again. I hustle hard from 22 to 24 to clear off 10K in debt. This was the start of my journey to help fill in the education gaps from “is a credit card good or bad”, “how to leverage a credit card”. “what does interest mean/really cost”, “should you be saving while paying off credit card debt? if so, how”. When it comes to answering these questions it can be hard to find what “fits” for you, everyone is going to have different opinions, solutions — it’s hard who to know who to trust — banks while they may have the tools, and support, they typically are trying to sell you a service or product, which is usually the last thing you want when you’re trying to readjust your spending habits.
I am still on this mission to relieve some of the pressure to “have it all together” and remove the barriers to have these conversations without shame. Which is why Flourish in Finance is happening. We have different experts coming in to uncover different layers of our financial journey starting with: Our Financial Thermostat, knowing how we spend and why we spend. Followed with different ways to use our money and set ourselves up for the future. Ending with a deep layer of Financial Planning - tools and documents to have in place.
This day is designed for anyone, there will be some topics discussed for the unique situations of entrepreneurs and what that looks like when dealing with taxes, health insurance and paying yourself. So if you’re finding yourself on what would be seen as a typical “journey” then this is for you!
See You October 21st
