First, I really want to express my appreciation to this amazing group, and the guy who started it all, Sam. This group has been an amazing motivator for me to improve my writing and press towards the goals I originally set when I started blogging. I couldn’t have asked for a more supportive group and am just happy to be a part of it.
Now to the task at hand, defining who I am and what I am about…
The Beginning – Building a not so solid foundation
I come from a family of nine, and am one of seven kids, six of which are boys. Needless to say, even the above average income would be crippled by that many teenage manly mouths to feed. Growing up, we didn’t have much and though grateful for what we had, I needed things outside of simply a roof over my head and food in my belly. We couldn’t afford much outside the necessities, and if I needed new clothes, new shoes, or money for school supplies and activities, I was footing the bill. So, being the independent kid I always was, I ran off and joined the circus…
OK, that’s a bit of a stretch. I really did become a carnival worker (Carnie for short), at a business that did street fairs and weekend parties. I worked that job all through high school and was actually paid pretty well allowing me to build a small savings for the future.
That all changed when I started dating the woman who is now my wife..there’s just something about a pretty face that makes you forget all your worries and responsibilities, it must be love :)
With all the fun and fine dining, my savings was quickly drained and although I was still working, and soon after that had two jobs, I was getting into debt simply due to financial ignorance. Not the best start to my life as a working adult.
The Middle – The experiences we had and mistakes we made
After high school came a brand new car purchase, several moves, and a couple entrepreneurial ventures of varying success. I got married at 19 and my wife was pregnant soon after. I got enrolled in school (fully funded through student loans and grants) and found a good job working in the IT field. We bought a house, and I continued to juggle work and school, never once really sitting down and looking at our finances or figuring out a plan to get where we wanted to be in life.
After my wife got pregnant with our second child I realized we weren’t saving any money. We didn’t have insurance because I was working through a staffing firm and the reality that we were going to have to pay for this childbirth ourselves, a high risk childbirth no less, set in.
It was time to make a change.
My wife and I started researching what we could do with what we had. I discovered the Consumerist, and from there, personal finance blogs like Budgets Are Sexy, and Free From Broke, the earliest blogs I can remember reading. That discovery not only started us on the journey towards financial literacy, but sparked a forgotten desire that had been laying dormant inside me for some years and I decided to start writing Personal Finance Firewall.
The End – Goals for the future
My initial goal for setting up Personal Finance Firewall was not only to share with others the things I learned through managing my own money, but to also create a writing portfolio. I have always toyed with the idea of writing as a career. I went into technology just because I had a knack for it and the job was there, but I really enjoy literature and have dreams of writing my own book, or even my own series of books (kids books) someday.
This year, that vision has been molded and actually taken shape in some ways, as I have taken several freelance writing opportunities. Through this I also remembered a goal I set when I took my first major entrepreneurial opportunity, to retire when I am 40 years old.
My definition of retirement is not lounging on a beach somewhere. Retirement to me simply means I would not have to work. I would have either passive income to cover my expenses, or enough savings by then to be able to live comfortably for years to come, regardless of what income my hobbies brought in. Personal Finance Firewall is paving the way to my idea of retirement.
Since starting Personal Finance Firewall, we have; paid off over $25,000 in consumer debt (mortgage and school loans are sticking around a while), paid off our car, and have reduced our expenses by close to 50%. We have a retirement plan in place with the goal of 40 in mind, have started investing, bought a rental property that provides some semi-passive income and are putting 25%+ into savings. We are even able to contribute 10% of our income to charity.
The only thing that made this possible was learning about personal finance early in life, and that is what makes me so excited about the Yakezie and everything it stands for. If through this group and through the Yakezie Scholarship, we can touch the lives of others, and teach them the importance and basics of money management, we can change the way the world operates. No longer will we be a debt driven society, with dreams like mine being perceived as unattainable.
This post is part of the Yakezie Member Post Series. See all member posts here.
Great post Jesse, I’m glad I found out that you were a carny. (just kidding). I didnt know you owned a rental property. To me, that seems like one of the best ways to take in income and build wealth, but many of the PF blogs (that I read, anyway) dont seem to really talk about that much. I’d like to hear more about that sometime if you’re interested. Maybe for our tweet up.
Hey Jeff, I haven’t blogged much about my investments, but that is all changing as I get more confident about them. I have had the rental going on two years now, and I was really nervous it would be a bad deal, so was a little standoffish about writing about it :)
So far, things have only had a few hitches, so expect a post soon!
And yea, it’s true, I got a huge <3 Mom tattoo in my forearm as part of the Carny initiation :)
J-Man, That’s a lot of brothers! So are you planning on stopping your own flock at 9?
I always enjoy your blog and want to hear more about your carnie days. So did you juggle fire, work the cotton candy machine, or were you the bearded lady?
We just found out we are having our first boy, and this makes #3 for us. We are shooting for 6, so a flock of 8 total :)
I actually plan to write about this soon too, as it was a huge part of my life and I learned far more than you could imagine considering what the work looks like from the outside.
I juggled water (yep), worked the ticket booth, and was the unbearded man..plus much much more! You’ll have to wait and see when I give the full scoop :)
Sounds like you are really getting your finances in order! It’s great to see how people can transform.
It really is Craig, and I am really trying to get others my age, and younger, the ages it really counts, to take notice of trends and get interested in this stuff. It’s like damage control against everything they see on The Hills, and the news broadcasts :)
Welcome Jesse, really cool to read your story. It’s extremely interesting to learn about fellow Yakezie members.
Thanks Forest, you really never know what went on in the past in peoples lives, so I think this intro series is pretty awesome. I’m looking forward to yours..I’m extremely curious about your living situation…
Hey Jesse,
I love that you have diverse streams of income to help you meet your retirement goals. I, like you, also feel that retirement just means not having to work, but still pursuing hobbies and interests.
I think it’s great that you are still giving a portion of your income while saving and paying off debt!
Hey Khaleef,
I wouldn’t feel right not giving back, seeing as I was given so much in terms of knowledge and opportunity from all those in my life (the Yakezie included). If personal finance bloggers weren’t willing to give their time for free and write about what they/you do, I wouldn’t have possibly been able to get where I am. It’s only fair :)
And I’m glad I’m not the only one looking to still be interesting, and do fun things in retirement. I love my hobbies and don’t plan to give any up! :)
Great Story Jesse. Keep it up. The secret to writing well, is to continue to write. Then have a brutally honest person tell you where you are screwing up/not making sense.
You have a great attitude, and will do well!
Thanks Dean, will you be that brutally honest person? :)
I really do agree though, that constructive criticism is so important to growth and success.
Yes, quit making babies, and go write! (Can you believe an OB just said that?) I can give constructive criticism, but would never do it in a public forum! Even I am not that wicked!
Loved reading your story Jesse! Good to see your finances are headed in the right direction.
Thanks Mrs! We aren’t there yet, but working on it.
I love your new look by the way!
Jesse, I enjoyed reading your introduction. It’s cool to see that you learned from your direct experiences early in adult life, and have moved to a point where you are saving a solid percentage AND giving generously. Good stuff!
Thank you. If you ask my Mom, she would tell you I am her most stubborn son, but I learned early on that I make mistakes…plenty of them and if I was going to grow, and progress in life, I would have to swallow my pride and start recognizing and making every mistake into a learning experience.
I’m still her most stubborn son..but at least I admit it now :)
Good to formally meet you Jesse. I also want to retire at 40, and we have the same definition of retire for the most part. I’ll explain more in my introduction post in a couple of weeks.
Thanks Eric, I’m glad I’m not the only one! I’m really looking forward to your, and all the rest of the intro posts. This is so cool!
Hi Jesse… nice to learn more about your backstory! I agree with you on your definition of retirement, Jesse. I also like your conclusion. Unfortunately, our monetary system will have to change and cease being a monopoly if we truly want to avoid being a debt-driven society, but here’s to the dream!
Thanks Kevin! The change starts with you, and me :) but right back at ya, here’s to the dream!
Mate, really good to ready your story! When scheduling Member Posts, I try and just read the first paragraph, so I can be surprised like everybody else as well :)
Very cool background. I’m wondering, if you have 6 siblings, how many children do you want in your family? I was always told that people generally want as many kids as their own brothers and sisters. Any truth to that?
Well done paying of 25K in consumer debt!
Good strategy Sam, but you have more self control than I; the curiosity would get to me!
As for your question, we do plan on having a family of 6 kids, if not more. I think there is some truth to generally wanting as many kids as you have siblings, but it’s subject to experience as well.
I’m the second oldest, so was on top of the totem pole and the younger siblings came gradually. For the youngest child on the other hand, being born with that many siblings plus having them all older than you, may make you wish for a smaller family.
Thanks for your thoughts Jesse. What are your thoughts about potentially adopting kids as well?
Now that is a tricky topic..
On one hand, adoption is financially and emotionally taxing. It’s not an easy process to go through, and can take a really long time. It’s almost easier in every way to have kids au natural.
On the other, there is a definite need for parents willing to adopt. There are way too many kids out there without homes.
Personally, at this point, we will keep going natural until my wife can’t have any more kids. She had a C section with the first, so that does limit future pregnancies to some degree, and every pregnancy afterward is considered high risk with a high possibility of needing an emergency C section if everything doesn’t go perfect.
Maybe Dr. Dean can give us some insight here, but we were told that if my wife had two C sections, we were pretty much done having kids because the body can only take so much.
In the case of not being able to have more kids, we would certainly consider adoption. This decision is also largely up to my wife, and as time goes by, things are certain to change one way or another.
Interesting information on C sections and such. How many siblings does your wife have? According to my research, there are some 147 million orphans in the world. I was totally blown away by this fact! If I were to guess, I would have thought maybe “only” 30 million or so. But at almost 150 million, I wonder what becomes of them, and how we can do more to help.
Ya, the intricacies of medicine..making babies can be a dangerous business for sure :)
My wife is one of ten..so we are destined for a big family and we both want one!
I do have close relatives that have gone through the adoption process more than once so I know a bit about how it works. There really is a huge need there for help, and I’m only talking state side! Kids are abandoned every day…
When the time comes, the option will surely be considered by my wife and I.
My money advice is free, and that’s what its worth….Medical advice, now that will cost you, at least a link or two.
Most experts agree after two c-sections, the risks of a vaginal delivery outweigh benefits-main risk is uterine rupture.
PM me for further questions, don’t want Sam’s baby, to be a baby/medical forum
Hey Doc, thanks for the info. Actually, feel free to write whatever, whenever if we’re on the topic of helping our fellow Members out! Thnx.
nice post. :) It’s awesome you’ve taken such great steps to help you and your family
Thank you Charlie!
Wow, I am glad you learned early on! How do you plan for early retirement at 40 (not having to work is my idea of retirement too…I want the choice)? My husband and I are shooting for 52 and hear from naysayers all the time. Good luck and I hope you reach all of your goals!
Thanks BITFS :) but I can’t tell you here how I’m planning…but I better get writing, because now all my post ideas are out of the bag!! :)
LOL, that’s one way to make sure I keep reading, hahaha.
Jesse! Very inspiring post man! I am actually in the process of starting a family and know what it is to get into debt just by financial ignorance. I think saving and putting money into real estate is a great way to go and having a financial blog about it all is sweet as well. Congrats on paying off $25k in debts, I was at $16k myself before I started my own business, which is now all paid off, besides the car ;) Lexus LS430! Blessings to you and your family!
Thanks Aim, starting a family is tough. I mean, some say to wait till you are financially ready for kids and stuff, but what if you wait too long and it’s too late. Family life is full of tough decisions :)
Congrats on your business, and debt payoff as well!
You know if you wait to be ‘ready’ then you won’t ever be ‘ready’. Something will always come up or you might never feel you are financially set. I think starting a family will bring not only motivation in your life but also joy and true happiness.
You’ll do well with this site!
Thanks! That’s exactly how I feel about it to, and why we got started so early.
Very cool to read a bit more about you. Love the fact that you were a carnie – yet – you still have all your teeth? How is that possible??! I kid of course..
Great intro!
Well, I do know my way around Photoshop :)
Thanks!
Haha!
Great introduction. The carnie tidbit is interesting, as is the big family you and your wife come from. Do you watch any of the big family shows on TV? I’m from a family of four, my husband was just him and his mom, and we’re hovering on two kids right now, not quite sure if we’ll take the leap to three. Trying for six? Wow, that’s a level of dedication and patience that I don’t think I possess!
Congratulations on your upcoming son. :)
Hey, thanks :)
I have seen the big family shows (we don’t have cable, so we don’t “watch” anything) but it’s not quite as interesting when you relate to that degree haha
Inspiring story, Jesse! Great to see you got your act together early on and headed in the right direction! How do you plan for your retirement? Good luck with all your goals!
Thanks Suba! The key word there is headed..we have a long way to go ahead of us. I am currently writing my full retirement plan, so you and the others that asked will just have to wait and see what my plans are! Sorry :)
Jesse, you’ve had a busy life already and are still so young! I hope you can retire by 40 but i bet you don’t really mean retire, but rather work for yourself.
You and the others so far the week are setting the bar pretty high for the member introductions. I better get writing!
Thanks Kay Lynn, and you’re right. I mean retire, as I see it, which means making money from my hobbies and passive income..not moving to Florida and into a retirement community :)
I’m really looking forward to “meeting” you from your intro post, I can’t wait!
That’s a great introduction. This is going to be a lot of fun to read everyone’s story.
Congrats on paying off our debt and it sounds like you have quite a bright future ahead of you.
Thank you Kristia, we are doing what we can :)
Great introduction, Jesse. You were lucky you learned about managing money early on.
Thanks Flexo, I agree, things would be much different if I didn’t get interested in PF early. For that, I have people like you to thank, so thanks! (Yours was a site I read early on as well)
Jesse, thanks for sharing this inside look. You’re doing a fantastic job of achieving your goals. That’s very inspirational to me. Thank you.
My pleasure Neal, and thanks for reading it :)
I have told you before, your story is pretty inspirational as well, keep doing what you’re doing!
[...] The Yakezie Website has launched, and I was glad to hear everyone stories, espically fellow Mountain West resident Jesse from PF Firewall. [...]
Great Story! I’ve never heard of a Carnie becoming a pf guy, and a good one at that!
Great inspirational story! Man, that will be a lot of kids! Hats off to you, I’m stuggling with just two…
Thanks for the kind words :) there has to be a first for everything, right?
Jesse,
All I can say is wow. That is a list of accomplishments that anyone could be proud of.
Thanks Evan, I appreciate that :), I’m just doing what ever I can..
Great post Jesse…I’m impressed with your focus on paying off so much debt since starting blogging!
Thanks Mike, it’s been pretty tough at times especially when things started to get less pressing and we wanted to spend extra money, but ya have to do what you can to secure your future, ya know?
Thanks for the personal insight and congratulations. Keep up the inspiring work!
Thank you Barb! You keep doin’ the same!
Hey Jesse, retire at 40 eh? Sounds like a plan Stan. I’m glad you are pursing the writing options out there, that’s awesome. Keep on Keepin’ on brother. Your Friend Jeffro
You better believe it! Anything is possible :)
From one Jesse to another, your transformation is an example of what inspires my own writings. It’s so great to hear how people are completely altering their lives (for the better), simply by making the decision to EDUCATE themselves on personal finance.
Interesting about your dream of moving towards writing. Like yourself, I went into engineering primarily because it was something I could do easily enough and there were plenty of jobs. But the passion really lies within personal finance and helping people realize they’re in greater control than they think. **Similar to Joe Plemon
Ya, I don’t know too many Jesses (spelt CORRECTLY without the “i” :) ) and that got a little confusing in the groups once in a while haha
I agree that all it takes is education and application. Personal finance isn’t hard, but it does take a little time and effort.
Keep pursuing your passion my friend, and nothing is beyond your reach. You are doing good things.
Paying off twenty $25,000, Jesse, is very impressive! Awesome job. Speaking of big families, my wife’s great grandfather had 14 kids in his family – all boys!
Best,
Len
Len Penzo dot Com
Thanks Len, but I couldn’t have done it without people like you and your creative writing style that hooks audiences :)
My mom comes from a family with 12 kids, all of them working real hard to catch up too :) reunions on that side are a blast!
Jesse, first off, I think that’s so cool you worked in a carnival back in your school days. I want to hear more about that and exactly what you did! Also awesome you were able to build up some savings there (even though it didn’t last :)). And that is crazy how large of a family you come from. As you said, that has to be tough for any parents even on a hefty annual income. They raised a pretty cool cat in you though, haha! Congrats on all the accomplishments and how much debt you’ve been able to get out of.
It was an experience for sure Andrew, and I’ll be writing all about it soon enough :) thank you for your kind words.
Looking forward to it!
[...] Personal Finance Firewall is also a member of Yakezie Personal Finance. [...]
Paying off $25,000 in consumer debt is an impressive feat. You must have been dedicated.
That and infuriated by my own stupidity and the interest rates! :) I couldn’t stand seeing daily interest accumulate so quickly. Now I have my school loans to deal with and it’s the same feeling; I’ll be hitting them pretty hard this year.