Today, we’re continuing our celebration of new beginnings in 2013 by unveiling a new contributor: Susie Boretti. Susie is currently in school to get a master’s in financial planning. Here’s her story.
Think about the last time you were told something you just didn’t want to hear. There are two possible responses to this: to cop out and accept it, or to do everything in your power to prove them wrong.
If you chose the latter, then you and I are very similar. Life is full of all sorts of challenges and tests, but your attitude makes all the difference in the outcome, especially when it comes to managing finances.
Sink or Swim
My ability to challenge myself comes from the longest relationship in my life: 13 years spent in competitive swimming. That relationship was full of love, but also some hate. Many times I wanted to quit or stop. But each time, I reminded myself that if I quit, then I was giving up on the challenge. And my attitude was that I would not stop until I fulfilled my goals.
Many of my goals seemed impossible; however, I always knew I would achieve them. I ended my career with over 60 top-8 finishes, I was on six all-star teams and two championship teams, and I fulfilled my greatest accomplishment of all: two Bentley University school records. (Shout out to Mom and Dad for calculating that for me.)
Now, I’m working toward another achievement: managing my money.
My Aha Moment
I’m currently a graduate student at Bentley University. As part of my requirements, I’m studying financial psychology—and it has been an eye-opening experience.
Much like with swimming, attitude impacts how you view money and ultimately choose to spend it. My big aha moment came when I took a surprisingly accurate money personality quiz. It categorized me as a “producer,” meaning that I like to work hard for my money. As a “producer,” I believe that as long as you work hard and save, you will always have enough money.
I’m putting that attitude to the test by balancing my extremely expensive master’s degree with what I owe for my monthly student loans. I’ve challenged myself to manage these expenses, and by applying my “producer” mentality, I will.
Ways to Save
In an effort to save money, I am currently living at home. And, believe me, this presents the ULTIMATE challenge. I miss the independence that I had for 4 years in college, but this year at home has allowed me to save as much money as I can. I am not paying any rent (thank goodness), I do not have to pay for utilities, and I do not need to pay for food. That alone saves me about $1,000 a month! Not to mention I get home-cooked meals and cable in my room!
In addition to living at home, I work extremely hard to earn money. I have a part-time job and coach high school swimming. Managing all this on top of school is challenging, but these jobs provide me with more flexibility with my money. That way, I can cover my educational expenses, while still maintaining enough to have some fun.
Let’s Work Together
I keep a sharp eye on how much I have and how much I am able to spend. A lot of students may think it’s a challenge to keep track of their money, set up a budget, and actually stick to it. I think that’s a challenge you can beat—and I want to attack it with you.
Right now, I’m effectively budgeting my money and living within my means. I want to show you that you can do this too. My mindset is that we all can succeed by never giving up in all our challenges, both monetary and personal. And my plan is to help us all get there. I dare you to tell me we can’t!