Jackson's Personal Finance JourneySubmitted by Blue Mountain Investment Management LLC on July 28th, 2021
Hello, my name is Jackson Silveira and I was born in Santa Rosa, California but moved up to the beautiful Cove, Oregon when I was . Ever since then I have lived in Eastern Oregon and have been able to experience all that it has to offer. I am a Junior at Eastern Oregon University studying to earn dual degrees in Exercise Science and Psychology while also being a member of the football team. My dream is to open my own sports nutrition and performance clinic to help all ages develop on their athletic journey.
I grew up with an older brother, Sam, and our parents made sure that if we learned anything as kids, it was responsibility. My parents wanted to make sure my brother and I grew up independent and prepared for life. With my mother working as an accountant and fiscal manager all of my life, financial responsibility was a big part of that. They would always make sure my brother and I were taken care of, but they also made us work for what we wanted. If I wanted to buy a new toy or get a video game, my parents would make me do chores or work in order to earn that money. This taught me from a very early age the importance of money and showed me that I had to work to get the things I wanted.
Throughout my childhood, the main way I earned money was working for my parents or helping our neighbors with yard work. As I got older I began to realize that I was making bigger purchases and no longer just buying cheap toys and video games. This is when I began to do yard work and landscaping during the summer and fall so that I could save more money. Although this did help me make more money, I rarely kept track of it, and since it was mainly all cash, I was just storing it in my room. I now had the money to pay for things, but if I wanted to buy something online, I still had to go to my mom so I could use her credit card and then pay her back in cash. Eventually, I got tired of needing someone else to buy things for me online and I asked my parents if I could open a checking and savings account.
Opening my first checking and savings account enabled me to see the real amount of money I had to my name and scared me a bit. I no longer had a stash of cash that I could take from and never think about, I now had a real number showing the balance of my account and it would show when I spent money. This made spending a lot harder for me because I now had to look at the number on my account and see it go down every time I bought something. Going through the whole process of opening an account and managing my money made me realize I didn’t know enough about personal finance and needed to fix that.
In order to learn more about personal finance I did what I thought was best — threw myself in the deep end. When I left for college I didn’t go to the dorms or live on campus, I lived off campus with my brother and his roommates. I was still in a place where people would look out for me, but I was in charge of paying my rent, my portion of utilities, buying groceries and managing my money. This was a great situation for me because I had no choice but to learn how to take care of my finances. It also allowed me to run into issues first hand and figure out a solution. Thankfully, I always had my parents to ask for help when I was unsure of what to do which made my transition easier.
My first couple years of college were when I truly realized my lack of financial literacy. I didn’t take any financial courses in high school and when I became independent, I realized how much this set me back. Instead of spending my first years of college implementing the skills and knowledge I had previously learned, I spent it having to teach myself these skills and learning them through experience.
While I was dealing with my own financial struggles I began to realize I was not alone. Many of my friends were having the same problems as me but had no one to fall back on for help. This made me extremely grateful for my parents being there to answer my questions, but also made me wonder what I would do if I didn’t have that support system? Because of this, I developed a passion for increasing my own financial knowledge and then sharing that with others. My goal for this internship is to share my past struggles and help others avoid the same mistakes.