Women’s Personal Finance Wednesdays – Week 64
1. Poverty leaves a mark. Burning Desire for FIRE
Unless you’ve lived it firsthand like Frogdancer has, living below the poverty line is something pretty hard to imagine. And like she says, it leaves a mark.
While not everyone who has experienced poverty and then ended up in a better financial situation feels the same way she does, I think this is an important post and one worth reading. Our experiences are all so very different, and reflections on those life experiences are so valuable.
2. They say the first is the hardest… Reaching For FI
I’m not going to spoil it here, but ERIN is celebrating a pretty awesome money milestone in this post! No matter what, this post would have made it in this round up for the fact that I feel like we need to shout to the rooftops and share our successes outside of marriage and babies (see these awesome Statement Cards if you want to lift up your friends in a tangible way).
More than that, though, this post is included today for the rest of what she talks about – not the milestone itself, but the knee jerk reactions that live too often in the financial independence community, especially when it comes to making more money / reducing expenses. And I can also seriously relate to her money anxiety comments – as can probably most people who graduated into the Great Recession / struggled their first few years post college.
Clearly, anyone who shares that they’ve completed a clothes buying ban (for any amount of time, but especially a year or more!) is going to get my attention. It feels a bit odd sharing this one because she does note that I was a big inspiration for her ban – even the same things on the list (clothes, shoes, accessories, make up), but it also feels pretty darn good to know that I am inspiring people to make big changes in their life. And regardless, a huge accomplishment like this needs to be shared.
I’ve definitely experienced the same thing she mentions here – that my clothes buying ban has significantly impacted the way I look at all purchases these days. When you have a hard stop on one part of mostly mindless consuming, it heightens your awareness to the rest of it.
She ends the post with some great suggestions on how to make your clothing last longer as well. When you’re committed to not buying more, you pay much closer attention to the clothing you do own, and a lot of that has to do with making sure they last as long as possible. If you’re considering a clothes buying ban, I highly recommend it, and this post is a great place to start for inspiration.