Financially Fab Enjoying Life And Working Your Money

Thanks for checking out Financially Fab.  Here’s background on why I’m doing this.

My Passion

I’m passionate about helping middle class people hold on to their money. I want you, me, everyone, to confidently make savvy financial decisions. To make those savvy decisions, you need information that makes sense for you, right now. I started Financially Fab to offer sound, timely, information for your life, speaking your language as young professionals. This is not your parent’s website.  I use examples from my life and the lives of other young professionals.

Financially Fab is about helping you and creating a safe space to learn about personal finance, especially if you’re starting from scratch.  I want you to ask questions! Write comments! Email me at FinanciallyFab at Gmail . com. I respond to all emails and comments.  And if you’re really shy, write an anonymous comment. 😉

The Beginning

When I was 18, my parents divorced, kick starting my current views on personal finance.

I was born in Nigeria and moved to the US at age 6 with my family. My parents moved halfway across the world, leaving family and friends, partly so their kids would never worry about money. Like a good immigrant daughter, I was expected to get outstanding grades, go to a good college, get a professional masters or PhD, and pursue a professional career.  I followed that plan and willingly handed over my financial life. I expected them to manage my finances behind the scenes until I finished grad school. 

During the divorce, finances became more transparent. My college tuition, housing, and other expenses got thrown into their arguments.  In an 8-month period my mom took full financial responsibility of her 3 kids, got divorced, and buried her father.  I was very close to my mom.  I saw firsthand how money touched all areas of our lives—funerals, education, Christmas holidays, relationships, and lying awake stressed each night. I’m sure my parents, like all others, experienced financial worries several times during my childhood. But this was my first time seeing the details.

I was almost Kicked Out of College

On my end, I kept spending like nothing had changed. I had less cash each month and was using more credit, but I wouldn’t admit it to myself. For example, I hoped that $1,000 dollars in my account would stretch to pay for $700 in rent and bills, $200 in food, $200 in shopping, $150 in other random expenses.  I was stressed.  Seven days before spring semester started, I didn’t know how I would pay for tuition.  If couldn’t pay, the university would drop my classes—I would be kicked out of school.

That woke me the hell up. I got a short-term university loan.  I asked myself how I could spend $5,000+ shopping and studying abroad, but didn’t have $3,500 for tuition. I was spending money like it grew on trees.  I realized it wasn’t mom’s or dad’s problem. I was accountable for my finances.  It was my life, not theirs. That spring and summer, I dove into personal finance, reading about mutual funds, budgeting, efficient market theory, consumer debt, etc.  I also started budgeting, got a federal student loan, worked part-time, and paid off $5,000+ in credit card debt within 5 months.

Starting my Financially Fab Lifestyle

For the rest of college, I increased my financial control, using a combination of support from both parents, loans, part-time work, and scholarships.  While still in college about two years later, I had a 6-month emergency fund and opened an IRA with $4,000.

Over time, the sense of control expanded to other areas, including choosing the job I wanted, moving to my 1^st choice city, picking up ballet as an adult, and travelling the world.  I became Financially Fab.  I became accountable for my decisions, worried less, and enjoyed more.

Realizations that Changed My Life Forever

• If I don’t prioritize my spending, I could lose what really matters–in this case, my education.
• When I take ownership of my finances, I sleep better.
• I worry less when I have an emergency fund.
• Going forward, I will be 100% accountable for my finances, the good and the bad.
• I will never blame someone else for my spending decisions.
• I am in control of my life.

Ready to take control of your life?  I’m here to help. Wanna dive in? Check a post and post comments!