Hi everybody. I’m Matt from the Living In Financial Excellence blog. I’m super excited to be here and [finally] writing my member post.
I’d always considered myself to be good with money.
- I saved my money in high school and paid cash for my first car.
- I graduated from college with no student loans.
- I only used my credit card when I had the money to pay it off that month.
- I invested in Roth IRAs early in life.
But I was also doing some dumb things with money. I had car payments when I got older. I spent money when I felt like it and often bought at full price. Even though I was investing, I was only putting away $50 a month, as opposed to my $400 car payments. As soon as we paid off our car, we went and got another car payment.
Pretty stupid behaviors if you ask me now, but back then it seemed perfectly fine because everyone I knew had a car payment, etc. so I figured it must just be a way of life. As long as I was doing better than my broke friends, I felt pretty good about our finances.
SOMETHING CLICKED WHEN I HIT MY 30’s
Somewhere in my early 30’s something clicked and I realized we weren’t doing as well with our money as we could be. I didn’t want to be just a little better than broke. I didn’t want to be one step better than normal. I didn’t want to be tied to my job just so I could keep making my debt payments.
So my wife and I decided to make a change. We made financial excellence a priority in our lives. We started doing a more effective monthly budget together. We started communicating more openly about our spending, our goals, and our fears. After a few months of struggling, we actually got on the same page with our finances.
We stopped using our credit cards. We started using cash and only spending what we budgeted for. We paid off the rest of our debt except the house. We built up an emergency fund, and then started investing a monthly amount that actually made a difference for our future. The best part is we are able to give more than we’ve ever given in the past, because we can.
Today we are completely debt free and loving life. We aren’t anchored down by debt anymore and we have so many more options. That’s Financial Excellence.
OUR COMMITMENT IS OUR OWN
Some people made fun of us when we made the commitment to live without debt. Others started asking for advice. That’s when I became a financial coach and started a business, of which my blog has played a big role in changing lives. Today I blog because I’m passionate about personal finance and challenging the normal way of thinking. Normal is broke and in debt. I challenge my audience to be weird and live debt free so your income is free to work for you.
In 2009, I lost my job as a manufacturing engineer. A lot of people would panic and search fervently for a new job. I decided I was tired of working a traditional job so I brought my part time financial coaching business to full time status. I began blogging more frequently and launched a weekly podcast to reach more people with good financial information and advice.
We had no debt and a fully funded emergency fund so we could afford to take a cut in pay for a short period of time. Once again, being debt free meant we had options.
That’s where I am today. Coaching people with their finances, blogging, and podcasting. And, thanks to the Yakezie network, consistently improving at all of the above.
Interesting random notes about me:
- I served six years in the Army as a Field Artillery officer.
- I lived in Germany for three years.
- I’ve jumped out of perfectly good airplanes (and loved it).
- I love to hunt and fish (usually come home empty-handed, though).
- I’ve been married for 13 years and have two awesome kids.
- I love challenging the norm. If someone tells me it can’t be done, I immediately have a burning desire to prove them wrong.
- My wife and I are completely debt free in our mid-thirties.
- I also own a small camping goods manufacturing and distributing company, specializing in the type of products that make you wonder, “Why didn’t I think of that?”
I’m looking forward to continued personal growth with the Yakezie, and more opportunities to give back to a great community!
It’s funny when that “something” clicks in your head. At that point, you know you’re about to make some radical changes, but that they’ll ultimately be for the better. Congrats to you!
Thanks Derek. You’re definitely right about that.
Congrats on finishing the challenge, Matt. I love your blog. You offer some great tips and posts that really make people think about their financial behaviors. I bet now you are glad your job was cut in 2009. :)
Thanks Melissa. No regrets about the job. Although we do miss the steady paycheck with less effort – much easier to be an employee ;)
Congrats on being able to live the virtual lifestyle after layoff – was that your plan all along to do this full time or did you imagine this would be a side gig and you’d work in corporate America for life and this pushed you into it?
I never saw myself as a corporate lifer. Always had the entrepreneurial blood in me but didn’t expect it to happen quite the way it did.
Great member post and congratulations on becoming a Yakezie Member! It was great to read more about you though for me I can’t imagine jumping out of an airplane for any reason…..
lol. My parents thought I was crazy too but I was young, fearless and in the Army (had orders at Airborne school). Once you’re there, there isn’t much arguing. Sure was fun though!
Welcome Matt. I have been reading your blog regularly and really like it. Keep up the good work :)
Thanks. I appreciate the kind words!
welcome to the group! this is one decision you most likely will not regret making later when looking back from the future. The mistakes you made early in life probably helped you pave the way in making you a better decision maker, at least financially.
I agree Charles. I’m trying to live life with no regrets anyway, so I prefer to take some calculated risks rather that sitting back wondering what could have been. No regrets so far…
Welcome to the network and congratulations. Thanks for sharing your story. It is pretty awesome that you turned a negative situation of being laid off into a positive one where you started blogging and helping people. You are an inspiration.
Wow, that’s a powerful and humbling word Miss T. I guess I never thought of myself as an inspiration.
Welcome, and thanks for sharing your story! It’s interesting how we change as we get older, and your financial maturation process in your 30’s is a great example of that. The car payment idea might have made sense when everyone in our peer group had one, but later we realize that there’s another, better way to handle such things. Also, it’s very interesting how you moved into more entrepreneurial ventures. Anyway, thanks again for sharing.
Yeah, I just wish I had matured a little earlier, but then again I wouldn’t be who I am without those experiences…
Your life/financial path sounds so much like mine. How did you get into financial coaching? That sounds like a fascinating career path and one I (and most here) would truly enjoy!
I got to the point where those who weren’t making fun of me were asking for advice, and I wanted to do something more meaningful and fulfilling with my life, so it seemed like the natural thing to do. I really do enjoy it, though it’s certainly not for the money!
Great to have you matt – and a great story. I love to hunt and fish as well!
Thanks Jeff. My next goal in life is to hunt and fish full time… maybe through a blog. Who knows?
HA! That is an awesome goal – perhaps become a guide in alaska. Use your retirement savings to buy a boat and take tourists like me out on it during the summer, then take people out hunting in the winter! It’s a WIN-WIN!
Matt, I have been enjoying your visits to my site and am impressed with yours. Great post with insight into what makes you tick!! You are destined for success :)
Thanks Barb. I love your site as well!
Thanks Barb. I love your site too. That negotiation video was fun to watch!
grrr. can you tell I had trouble getting my comment to post? You’ll just have to settle for extra replies Barb!
Matt good know you in detail. Love the idea of sky diving, never tried but willing to do one day
It’s a lot of fun but a little hard on the knees. I’d still go again if I had the chance.
Nice to get to know you, Matt. Where in Germany did you live? My sister and her husband were stationed in Stuttgart for three years.
We spent one year in Vilseck and two years in Bamberg. We miss living over there – we had so much fun but came home with no money in the bank from all the traveling we did.
Interesting story Matt! You certainly have quite a background, and it makes for an well rounded articles!
Thanks. Sometimes I fear being too well rounded. Kind of the jack of all trades, master of none theory. Gives me more motivation to strive to do my best at everything I do.
I love this line: Normal is broke and in debt. I challenge my audience to be weird and live debt free so your income is free to work for you. I definitely opt for being “weird” if it means living debt free!
We’re all about the weirdness around our place. When [normal] broke people make fun of us, we know we’re on track!
Wow! Great post, Matt!
I enjoyed getting to know you, your journey and your mission better. Thanks so much for sharing with us!
I know you will help many to achieve financial freedom and excellence!
Thanks Caroline. I appreciate your support and encouragement, as well as your motivating content on your blog.
Welcome to the network! Glad to have you aboard!
Thank you!
Matt, thanks for sharing your story. You are an inspiration to us all. I mean that to brother. Thanks again, and I wish you much more success, -Archie
Archie, as always I truly appreciate your support!
welcome sir. debt free in the 30s! excellent. life must be good :) didn’t know about your army background – hooooooraah (hoooah)
Boy, if I had a dollar for every time I heard hooah or had to say it…
Congrats on finishing the challenge Matt! I love hearing stories like yours about people who decide to make a change in their financial situation, reach their goals, and help others learn how to improve their situations too. Sehr gut!
Yah, sehr gut. Danke! ok, that’s about all I remember from living over there… but I guess I could order a bier auf deutsche if I had to.
“I saved my money in high school and paid cash for my first car.”
Absolutely awesome!
Got a great deal on it too. I just wish I would have taken better care of it…
I always hope that these stories will rub off on me so I can keep reminding myself that just because everyone else has a car payment, expensive one-bedroom, etc, that it might not be the best decision for me to have one too. Thanks for sharing your story, and congratulations on your membership!
Yep, you gotta do what’s best for you, not necessarily what everyone else is doing,
Congrats Matt! Sounds like you are really making it happen. I am totally with you on the emergency fund component of financial planning. I meet so many people who are literally pay check to pay check, just a flat tire away from disaster. I have been working hard to build up the “start my own business fund” and it feels great to be making progress. Also, Glad to hear you finished the challenge! I have a long way to go, I just started and I am at ~1.2MM in Alexa so there is work to do.
Great job on the new business and keep up the good work.
http://www.networthprotect.com
Yes, progress is very good. Keep plugging away and your Alexa will drop very quickly.
Love the intro post! I don’t think I have ever visited your site I’ll make sure to do so right now.
Thanks. Just read through your 7 links post – good stuff!
Congratulation! Great intro post. It’s very inspiring and hopefully we can be debt free one day too. I just subscribed to your blog and will visit more often in the future. ;)
Thanks for the kind words and for subscribing!
Great post Matt! I wish I came across individuals such as yourself prior to making the decision to finance my education. But it’s never too late, I am on the path to Financial Excellence and hope to be where you are in the next 5 years. Keep sharing the great info, it is very encouraging to those of us just starting journey! Great job!
You’re right. It’s never too late, and there’s no sense dwelling in the past. Learn from it and move on to make a difference in the future!
Nice to meet you Matt :) I agree, financial excellence as you call it (I often refer to it as Financial freedom) is more valuable IMO than a brand new car :P
Thank you. Yes, it’s a lot more fun than driving a new car, too. At least in the long term. It’s a little about financial maturity and delaying gratification in exchange for long-term rewards.
Inspiring member post. Welcome aboard. Sounds like you have a great partner in crime. What is more effective for you, writing or podcasting? Jumping out of a plane is both exhilarating and peaceful at the same time. Achtung Baby!
I’d have to say podcasting is more effective, or at least more fun. It’s easier for me to talk for 45 minutes than to write 3 posts a week. But to do 3 podcast episodes a week would be time consuming. I have thought about adding some different shows to the lineup – maybe one focusing on successful small businesses and one on debt free success stories. Both on the back burner for now.
Great to hear your story. As a fellow Army Officer (Military Intelligence) it is great to see you on Yakezie. Hooah!
Go Army! Thanks for serving.
Congratulations and thanks for sharing.
Thank you.!
Welcome aboard! That is very neat that you are a financial coach. How do you find your clients?
Lots of word o’ mouth Amanda. It’s all about building relationships and letting people know what we do and how we help. I get some referrals from free classes I teach and through the podcast & website too. Other than that, it’s a lot of networking and social media.
“I love challenging the norm. If someone tells me it can’t be done, I immediately have a burning desire to prove them wrong”—I love this, and I do the same! Welcome and congrats on all of the wonderful progress you’ve made along your journey. Best of luck moving forward!
Why, thank you! It’s fun to challenge the status quo, isn’t it?
Welcome to the Yakezie, Matt! You’ve had a pretty interesting life it seems!
Thanks!
I’ve jumped out of perfectly good airplanes, too!! Love it!! Plus I love that you’re into camping, which is one of my favorite pasttimes. Congrats on being done with your car payments and pledging to never have car payments again …. if people can just avoid that one thing (car loans), even if they do nothing else in their life to better themselves financially, they’ll still come out many thousands of dollars stronger.
Glad to know I’m not the only one crazy enough to trust a parachute… Didn’t even go camping this year :( but looking forward to next season.
Good member post, Matt. I like your podcast, too. You have a good radio voice.
Thanks for the feedback. I’ve always hated the sound of my recorded voice but we have a growing listener base so I guess it’s not too horrendous.
Welcome to the Yakezie and to a fellow veteran. Your story is very impressive and I’m looking forward to getting to know you better.
Matt,
Interesting to read your story about being able to adapt into full-time financial coaching. Good luck moving forward.