At what point in life do we stop and think about our financial security? What does financial security even mean?
Back in 1991…
I remember my first job at the age of 15 and I was so keen to save. I wanted to save so I had the freedom to go on holidays, and buy anything and everything I wanted. I was your typical 15-year-old in a lot of regards.
It was a couple of months after I got my first real job, I purchased my first pair of Levis – it cost all of $105 back in 1991! Mind you I got four free t-shirts with the jeans as well. I thought it was a pretty good deal.
The main point, is I was lucky enough to still have $500 in the bank. I remember the feeling of freedom; purchasing something and still having money in my bank.
But that soon changed, after a couple of holidays and many purchases later, my account was empty. I often found myself hanging with my friends at the ATM on a Tuesday waiting for my pay to go in so I could go shopping. My attitude to saving had changed. The big picture had become less important. I was wasting my money on things which didn’t matter – where are all of these things now you ask? I have no idea.
The wake-up call
My attitude did end up changing – thank God! I ended up having two children and the need to be financially responsible was at the front of my mind. I was put back on the track of being financially sensible, and this meant ensuring I had financial security.
This part of the journey saw me open, and later sell, a very successful business. But, I wasn’t really financially secure, was I? I still worked and still needed money to pay the bills. Although, I admit I had made a few very lucky investment choices, but these investments could go down, things could change in an instance.
What is financial security?
To me financial security is being able to afford to buy the things I need and want in life.
Would I change my journey?
Yes, I have wasted a lot of money in my life on frivolous things. Yes, I have made decisions which have ended up costing me financially. But, you know what, I would not change a single thing.
We talk about financial security, and financial freedom, but what matters to me is my happiness. I won’t be sitting in my death bed thinking about all of the sensible financial things I did in my life. No, I will be thinking about my friends, my family and my first pair of jeans.
The money will be gone, but the emotions will stay.
I can pay my bills, I save for my retirement, my kids are happy, and everyone is healthy. That’s all that matters to me.
After all, isn’t financial security there so I can pursue the things that make me happy?
Butler – Cash Management Expert
After many years running her own successful business, Bernadette moved her interest to the Financial Sector. With many years’ experience within the banking and insurance industry Bernadette uses her knowledge and passion for numbers to make finance something her clients enjoy talking about. Her passion lies in helping people achieving their financial goals.