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by sitecore\kmcgrigg on March 01, 2010

My husband and I just paid off our second car.


I said it.

But it wasn’t easy.

The moment we hit “send” on that final payment was really exciting for me and I thought about sending a tweet announcing our accomplishment. Then I got shy about it. While I felt like celebrating, the questions in my head kept me from sharing. Would people think I was bragging? Would I make someone facing financial difficulties feel bad? Is the information is too personal?

A lot of us grew up in households where money issues were not discussed. In fact, a 2008 survey by Golden Gateway Financial, found that half of all seniors surveyed said they had never had an in-depth conversation about their finances with their adult children and most of those don’t ever want to. The younger generation might not be doing much better. Twenty-seven percent of parents with younger children surveyed by ING Direct said that when it came time to talk to their children, they would rather talk about the birds and the bees or dating than money and finances.

This isn’t intended to be a post about the importance of talking about your financial troubles (although I think that is a very worthwhile topic for another day). Instead, this post is intended to make the argument that it is okay to share some of your financial successes.

I am not suggesting that you share every little detail about your financial situation with everyone you meet. In fact, that would be weird. But is it such a crime to tell your close friends and family members that you’ve achieved a financial goal? If you do share your financial successes, are you quick to dismiss them?  I have to admit that my first draft of this post started with: "My husband and I just paid off our second car, but...."

But nothing!  (Brace yourself for a pep-talk.)  If you achieve a financial goal, your close friends and family should be happy for you. Maybe you just need to give them a chance.  You might even inspire someone to set and keep a financial goal of their own.

As you can tell, I think people should stop celebrating financial successes in silence. Whether small (like setting up a budget), big (like paying off a debt), or in between (like starting a savings account), I, for one, would like to hear about them.  In fact, I am asking people who have overcome major financial problems to share their stories. It is my hope that during the month of April (Financial Literacy Month), this blog will be filled with financial success stories. My goal is to give credit where credit is due and to inspire us all to make positive financial changes.

Do you have a financial success story? Don’t be shy! Please share it though the comments section.


alina says:
August 04, 2010

Why is it important? Well, we are in the business of making money, and in order to make money we have to learn how to manage it. make money in minutes

Austin says:
March 03, 2010

Congrats! This is a fascinating topic. I've recently noticed how many people complain about their lack of money in public forums (i.e. Facebook). Yet, no one ever goes on and says "I saved 20% of my paycheck last month, woo!!" That sounds dorky, but regardless, if more people talked more positively about money would more people be better with their money? Is all this negative money talk bringing people down and making them think that credit card debt and having no money is normal and okay? Let's celebrate - I've exceeded my savings goals for the past 6 months - yeah! Great post :) Austin @ Foreigner's Finances

Heidi says:
March 11, 2010

I really appreciated the encouragement of this article. I too battle with the mixed emotions mentioned. As Austin stated above it seems people never be shy to wine or complain about thier woo's, but we are when it comes to the accomplishments! I myself have gone thru my hardships/bankruptcy and have regained ground, I am about ready to pay off my Truck I purchased NEW only 2 years ago...I aggressively made extra payments every other week this past year. And I have contemplated about posting on Facebook... just to say -Hey I did it... I am proud of myself! Thanks for allowing me to post here first!

Joan says:
March 11, 2010

Recently I have had 2 great financial successes! The first one was to get my husband to join me on an MMI Debt Management Program. I'd been after him for a long time. The second was using the credit we had built up in a Reverse Mortgage to pay our property taxes. Our counselor at the reverse mortgage company suggested instead of making a monthly payment into our account we should save it for future property taxes.

Kim at MMI says:
March 12, 2010

Congratulations Joan! You should be proud of your accomplishments. Thank you for sharing your successes! Kim

Kyle says:
March 29, 2010

I am very excited for financial literacy month and the things the Warwick office is planning to do.

robertsjulia says:
March 04, 2010

This is a wonderful opinion. The things mentioned are unanimous and needs to be appreciated by everyone.

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