What The Hell Did I Spend My Money On?

[Pete Perez]

Hey BP,

Not a question or anything-just an anecdote.

In preparation for tax season I was glancing at old tax statements and couldn't help but laugh at my younger self. I started working at 17 (2007). Between 2007-2011 I made on average $19k per year working jobs while in school. My only expenses were car payment ($189), cell phone ($65), and gas. I never talked about money with my parents. I was never encouraged to save. When I finally graduated college in 2015 I had $10k in consumer debt (not including student loans). I have no clue what I wasted all the extra money on! Probably beer and concert tickets now that I try to recall? I lived at home and most of that time didn't have a girl friend lol. 

Things are significantly different now. I paid off that debt a few months after graduating. I started saving significant portions of my paychecks after the debt was paid off, and now have over 6 months reserves saved. I track every expense and am a stickler on the budget (almost to fault according to my wife haha). I leave money every month in the budget to go do something fun, but I am much more aware of where our money goes. 

I haven't reached my financial goals yet, but we are in a much better position now. I can't help but look back and wonder how much better off we would have been if I was more aware of my finances. I am sure a lot of people have had this feeling at some point, and I can't help but laugh at younger me. My wife and I are planning on having kids in the future and I look forward to teaching them about finances. They may or may not make the same mistakes I made, but it won't be because I didn't talk to them about it. 

[End Rant]