Brittney Personal Finance Journey Part. 2Submitted by Blue Mountain Investment Management LLC on November 17th, 2020
If you have or have not read the first blog post of my personal finance journey, I recommend you do in order to understand "Part 2" of how my finance journey is going so far.
Fast forward to the present day. I have been feeling a lot of mixed emotions about my personal finances in the past few months. Lately , I have been experiencing plenty of stress and fear of being financially unstable. I have found that almost everyone I have talked to about my situation can also relate to this. Learning about finance and budgeting in middle and high school was very beneficial for me. Normally, I am good about keeping a budget and only buying things that are necessities instead of things that are wants. However, I realized I am actually struggling deep within regarding how my personal financial situation is evolving.
The Domino Effect:
In today’s society, if you do not work to make an income, that is setting yourself for failure. The famous phrase, “money makes the world go around,” is accurate because without money, almost 90% of the things you want to do involves money.
Going to my point of view on how I am struggling internally comes from the expectations I have for myself and what my family has of me, my education student loans debt, the uncertainty of a stable job, and personal matters. I realized that I am actually drowning in debt.
One of my major money issues is college fees (tuition, classes, supplies, etc). I recently got emails from my financial aid office on multiple barriers I had to do before I could register for Winter Term 2021. Barriers such as FAFSA verification, parent PLUS application forms, past summer term balance, and this fall term expenses. I had previously saved money for summer term because I knew financial aid does not cover those costs, however, for my fall term class expenses, I was short almost $4,000. My freshman year, I was eligible for Pell Grants and other aid from FAFSA which helped pay for each term unanimously. Unfortunately, I did not qualify for them the following years up till now due to my stepfather’s income statements.
In my opinion, I do not think it is fair for students to have to list both parents when applying for FAFSA especially if one parent is not supporting you financially at all, but since they are married we have to give their information as well. I think that is what screwed me over and left me worrying about what to do now.
I do not own a car out here and work is very minimal in the area that I am currently living at. I worked as a lab assistant up at my school plus being an intern for Blue Mountain Investment Management, LLC. I try my best to pay for all my bills by myself, but with being a full time student and working a few hours does not cover most of my bills in which I have to resort on asking my mom for help which I try not to do. I want to start feeling more dependable on myself and slowly cut the support from my mom, but with all these student loans it is all just overwhelming.
Sometimes money is not always the main priority for most people-- loving the job you are doing with a low minimum wage is satisfying for some and I want to have that kind of mindset in the future.
2. Internal Stress
Everyone experiences stress one way or another. My type of stress comes from overthinking about my future. Lately, I have been feeling slightly down about what I am doing with my life right now. Feeling like there is not enough time in the day to get things done and having it pile up later is nerve wracking. Like I said previously, I do not like asking my mom for financial support, but I had to for the parent PLUS loan. As a senior who is about to graduate in less than a year, I am starting to think what am I going to do? How will I do it? I know for a fact that I am not financially stable to live on my own yet.
Personal Matters = Additional Stress
I think stress is imperative to success. What I mean by imperative is that it does factor into the effect of our goals. Some of my personal finance matters arose during the past week and it started to make me really re-evaluate what I could do as of right now. Stress is labeled the majority of the time as a negative thing. The actions I am taking to relieve my financial stress is applying to more job opportunities so that I can feel more dependable with myself. Stress in my definition is temporary-- actions leading to why I even have stress in the first place is a positive stress. Each individual has their own stress limits and actions on how to solve them.
Like many of the previous blogs I have done, I talked about how stress can influence our mental health in a good or bad way depending on the circumstances. I am a prime example of how stressful thinking could deteriorate my motivation and motives I have for myself due to money issues that are realistic for other college students as well.
From money to stress and now our health-- these all have major effects on an individual’s growth physically and mentally. Our best asset to take care of is our health. I recently had some health issues that I have never experienced before in my life and it made me scared to know that my stress might have been a cause. The phrase “health is wealth” is catchy yet meaningful. In order to make money we need to be healthy.
The image is a flow chart of the top three factors that we experience daily. We may anticipate the results of what it can do to us simply because it will be bad. Nobody likes bad news.
Brighter Days Ahead
The reason why I am sharing this negative story is because it is reality and it is the truth. Each person has their own battles and struggles they go through in their lives and this is currently my challenge. Having no experience working full-time jobs and previous jobs that do not fit into what I want to do in the future is challenging as I go forth with my goals.
I always think of the positive and that what I have is not the worst. This is relatable to most students who are going through similar struggles such as jobs, loans, COVID-19, uncertainty, etc. If you have lasted till now and read my blog, thank you, also just know that there will always be a tomorrow. There are many outlets to relieve problems and I highly advise those who seek help to reach out to a family member, trusted friend, or a counselor and see what they can offer you because keeping silent about issues that does impact your life is not okay. To me, these struggles I am having will be overcome sooner or later and I just got to keep pushing through.