Growing up, personal finance wasn’t a well-taught subject in my household. My parents, though hardworking, didn’t have a strong grasp of money management. My father was a spender, racking up debt like it was nobody’s business, while my mother, on the other hand, did her best to teach me the importance of saving. She didn’t know much about investing or debt management, but she knew one simple rule: save as much as you can.
When I got my first job as a teenager, I made $260 a week. My mom helped me open a bank account and set up a simple plan—save $200 a week and keep $60 for spending. Since I had no bills and lived at home, that was more than enough. Within a short time, I had saved enough to buy my first car outright. At the time, I didn’t understand the significance of that decision, but it would shape my financial future in ways I couldn’t have imagined.
My First Experience With Debt—And Why I Avoided It
Like any high school kid, I wanted my car to look cool, so my friend and I decided to buy new rims. The difference was, I had the cash, and he didn’t. He chose to finance his rims, while I paid upfront. When we did the math later, we realized that even though we both purchased rims of the same price, he was going to end up paying $1,600 after all payments, while mine cost only $1,200. That was my lightbulb moment—why pay more for something when you don’t have to? Debt, in my eyes, was dumb.
That simple experience kept me from falling into the debt trap that so many people struggle with. I watched others buy things they couldn’t afford, borrowing money only to pay back way more than the item was worth. That never made sense to me, so I vowed to always pay less, no matter what.
The Art of Paying Less
Over the years, I’ve made it my mission to never pay full price for anything. Business is competitive, and there’s always a deal to be found. Whether it’s searching for coupons, waiting for holiday sales, or negotiating for a better price, I always find a way to cut costs. When you take the time to look for discounts, the savings add up quickly.
Living Frugally Now to Prosper Later
Another key principle I follow is learning to want less now so I can have more later. Instead of buying a brand-new car with a hefty monthly payment, I opt for a reliable used car I can afford in cash. Then, instead of making car payments to a bank, I pay myself that money, saving it for a future purchase. You’d be surprised at how quickly your savings grow when you eliminate unnecessary bills and refuse to pay more than necessary.
Books That Shaped My Financial Mindset
Throughout my journey, I’ve come across a few books that have reinforced my financial philosophy and helped me build better money habits. Some of my favorites include:
- The Psychology of Money by Morgan Housel
- Atomic Habits by James Clear
- I Will Teach You to Be Rich by Ramit Sethi
If you’re looking to change your financial mindset, these are great reads to start with.
Prioritize Experiences Over Material Things
One of the biggest financial mindset shifts I’ve made is learning to prioritize experiences over material possessions. Buying the latest gadget or trendy item might bring temporary excitement, but that feeling fades quickly, leaving you wanting the next thing. It’s an endless cycle of spending on things that don’t truly bring happiness.
On the other hand, experiences—like traveling, making memories with loved ones, and exploring new places—are priceless. The joy and value they bring far outweigh the cost, and the memories last a lifetime. The good news? You don’t have to be rich to enjoy amazing experiences. With a frugal mindset and smart planning, you can take incredible vacations and live a fulfilling life without breaking the bank.
Final Thoughts
Being intentional with money has allowed me to live a life free of financial stress. I’ve seen firsthand how debt can weigh people down, but I’ve also learned that with discipline, patience, and a smart approach, financial freedom is within reach.
Start by questioning every purchase. Is it necessary? Can you get it for less? Is it worth the long-term financial impact? When you shift your mindset from instant gratification to long-term financial well-being, you’ll be amazed at how much money you can save and how much freedom you can gain.
At the end of the day, money is a tool. Use it wisely, and it will work for you rather than against you.