Genworth Financial – Learning about Finances
Single Teen Mom trying to get through college. That’s a deadly combination, don’t you agree? This is especially true when it comes to money, which I’ve never been good at managing.
I was fortunate enough to have whatever I needed handed to me; private schools, nice public schools that seemed like private schools, nice clothes, nice cars, comfortable house, and of course my sport of choice- horses. I myself was awful with money. But there is something to be said for hitting the growing up phase. I got my first job when I was 18. I was already in school, and just moved home to transfer colleges and was living “on my own” with my brother. By “on my own,” I mean my parents helped with rent and bills, but a large part of my living expenses were all paid by me and my $400 a month paycheck.
Its was very difficult transition- to go from being able to go to the mall to buy a cute top whenever I felt like it to having to earn that money myself, and then decide: “is it worth it? Or should I buy groceries instead?” All I can say is I had to learn the hard way to live with what I had and be happy with it. I’m still learning. I don’t think one ever can fully make that transition – unless you have to.
This April I found out that I was (then) 5 weeks pregnant. I was dating the father at the time and of course the argument arose that I couldn’t afford a baby. It was true. $400 a month isn’t nearly enough to support myself and the baby. Now my dilemma went from “can I go to school, or do I buy diapers?” Things get worse when I had to quit my job because I was so sick.
I now had no real source of income and had to go back to mom for help. I loved my semi-independent life and wanted to be fully independent, but it wasn’t realistic for the time being. I
had to need to learn how to budget better. I wish I had found this article on managing your finances with your first job sooner.
Genworth Financial lists some great articles sorted by need (where I found my article), and I’ll be sure to hit up the other categories, which include teaching kids about money, so my son might be a little smarter than I was. They compiled a list of resources that are available to use that can help you with enriching your financial knowledge.
Life insurance is not something I thought about. But having a baby, I know I need to be prepared so he’s not left alone should something happen. There are so many things to think about as a single mom – not just diapers and cribs. Real life has hit me and I’m glad Genworth is there.
So go read, go learn, and may your wallet stay plump.
Presented by Genworth Financial