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Who Is Your Financial Mentor?

By Erik Folgate

Here’s the financial question of the day to bring us into the weekend. Ponder the question over the weekend, and post your answer in the comments section.

Who is Your Financial Mentor?

Name one person or a group of people that have influenced you in the way you manage your money. It could be a parent, a sibling, friend, pastor, or anyone else that has given you inspiration and motivation to manage your money wisely.

my answer:

In middle and high school, I attended a youth group at my local church in South Florida. I had several volunteer youth leaders that hung out with us just for the sake of being spiritual mentors to us and for some reason, they thought we were pretty fun to hang around. There were two couples, and I won’t name them for the sake of privacy, that I looked up to quite a bit when it came to spiritual and life matters. They were in there early 20’s when I met them, and I saw both couples start dating and get married. I also saw the way they managed their money, and they never lived beyond their means. They drove old cars, bought modestly sized houses, and didn’t blow their paychecks on expensive clothing and lavish vacations. They didn’t have much money, because they were just starting out. I always remember thinking to myself, “how come they don’t just buy a new car?” or “I wonder why they don’t travel much”. Now that I am older and on my own with a new wife, I understand their reasoning for living modestly and saving for the future. I am confident that their financial situations are secure right now, and they are saving for the future of their kids and their own retirement.

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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