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Financial Question Of The Day #9

By Erik Folgate

What was the defining moment in your life when you decided to start taking control of your finances?

Maybe you’re seeking the knowledge and desire to start taking over your finances, so you might not be able to answer this question yet. But for those of you that enjoy reading this blog and other personal finance blogs, I suspect that you have had a defining moment in your life when you said, “this is it, I’m tired of living like this”, and you changed the way that you started spending, saving, and managing your finances. I’d love to hear your story. Who or what inspired you to start changing the way your handle your finances?

My answer to this question can be found in my About Me page. I did a lot of damage to my finances in a little bit of time, but I am very grateful to have changed my ways at such an early age and before I got married. Who knows how much debt I would have right now if I had never had that moment in the car one night where I got so angry with debt, that I vowed never to use credit cards and student loans the way that I had in the past.

So, what’s your story?

Erik Folgate
Erik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college.

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  • Jacquelyn Hart-McCoy

    In my younger years I never went into debt (THANK GOD!) but I spent my money just as fast as I made it. I bought things I didn’t even need but as soon as I got paid anything I had left over after paying bills went toward cloths, fancy electronics, shoes, entertianment…I never saved a penny.
    When I met my husband I thought I want to spend my life with this guy, I want a home, I want a car, need to start saving something…so I saved up a down payment for our home in one year…then I became very interested in investing, retirement, and planning for the future….it all just clicked with me and I really started to take control of our financial lives to make a brighter future.

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