3 Reasons It’s Ok to Make Financial Mistakes

We all make financial mistakes.

Even those who are considered to be “financial experts” have likely made some in the past too.

In fact, if you check up on the history of some of the most popular finance gurus, you’ll see that many of them decided to learn and share knowledge of personal finance after making big mistakes themselves.

This is why we decided to come clean and share some of our biggest financial mistakes in this week’s episode of the Financial Conversation podcast.

Along with sharing our mistakes, we also discussed how thankful we are that we’ve made financial mistakes in the past. If you’ve made financial mistakes too, don’t be ashamed of them. Here are 3 reasons why it’s ok to make financial mistakes.

No one is immune from making financial mistakes, but sometimes, the best thing you can do is make them and learn from them! Here's why it's okay.

It’s Ok to Make Financial Mistakes If You Learn From Them

I’ve definitely made my share of financial mistakes. I used to feel ashamed at some of them, which is why I started my blog anonymously. But after “coming out of the closet” and sharing my mistakes with others through my writing, the podcast, and even discussing them in person with family and friends, I’ve found that there’s really nothing to be ashamed of.

I’ve learned that it’s ok to make financial mistakes as long as you learn from them. Like any other mistake you’ll make in life, the key is to look for the lesson and avoid repeating the same mistake over and over again. If you do continue to make the same mistake again and again, it’s not really a mistake anymore, it’s a habit.


Making Mistakes Leads to Forgiveness

I’m extremely hard on myself, and whenever I mess something up, be it in my professional life or my personal life, I have a hard time getting past it.

The mistakes I mentioned in our podcast episode were definitely the worst ones I’ve made, and it took me quite a while to come to terms with the fact that sometimes, stuff just happens. No one is perfect.

Ultimately, the biggest thing you can do is forgive yourself. No one is immune to making mistakes. If we were, we’d be pretty boring and we’d never grow.

Like Kayla said, you should learn from your mistakes, but once you do, you also need to forgive yourself and let go. Trust yourself that it won’t happen again.

Our financial journey never really ends, and it’s important to get over the inevitable bumps in the road, otherwise you’re not going to enjoy it.

So the next time you think, “How could I have been so stupid!?” remember that all of us have been there at some point or another. It happens – don’t dwell on it because it doesn’t do you any good.


Making Financial Mistakes Can Change Your Life

Okay so you shoudn’t make financial mistakes on purpose, but realistically, you’re going to make money mistakes. When you do, you should not only learn from them but allow them to shape your life and your future.

For example, getting into $30,000 in debt at the ripe age of 22 was a financial mistake on my part, but it completely changed my life. If I would have never taken out student loans and got into debt in college, I would have never become interested in learning more about personal finance. After I started reading blogs about personal finance and getting out of debt, I started my own and then I started writing articles about money.

Now I’m a podcaster and a freelance writer and I’ve found a new passion all thanks to my financial mistake of spending more than I earn. If you want to make the best of your situation after you’ve messed up financially, first you need to admit your mistake. Then, you need to turn it into a success story by finding the silver lining and using the lesson you learned to improve and change your life and your future.


Do you think it’s ok to make financial mistakes? Why or why not.

FCP030 – Our Worst Financial Mistakes

Welcome back to the Financial Conversation Podcast!

We are going to be admitting and discussing our worst financial mistakes. Just because we blog about money doesn’t mean we are experts. All of us have made some money mistakes along the way, and now we are going to share our stories with you.

We reveal our worst financial mistakes in this episode of the Financial Conversation Podcast. Listen to what we learned so you don't make these money mistakes!


In this episode we discuss:

  • 1:10 – Kayla’s Financial Mistakes
  • 2:10 – Chonce’s Financial Mistakes
  • 6:50 – Erin’s Financial Mistakes
  • 10:15 – Why bank accounts are a pain in the neck when you move
  • 12:30 – How to create a money safety net
  • 14:50 – How to avoid paying fees
  • 17:35 – Kayla’s light bulb moment
  • 18:35 – Chonce’s fender bender
  • 22:20 – Speaking of car insurance…
  • 23:15 – Is there anything we are proud of?
  • 26:00 – Chonce’s final thoughts on making financial mistakes

Related links to check out:

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We would love it if you subscribed via iTunes, Stitcher, or SoundCloud, or if you left us a review! While we love getting together and chatting each episode, it’s great to know people are listening. =)

We want to hear from you! Do you have suggestions or questions? Comment below, or follow us on Facebook or Twitter.

3 Ways That Minimalism Saves Money

On this week’s episode of the Financial Conversation Podcast, we discussed minimalism. You may be wondering why, but we’ve all personally found that minimalism saves money.

We shared our stories for how we started becoming more minimalistic with our belongings. Some of us have always had a tendency to be minimalistic, while others are just now realizing the beauty and benefits of empty spaces. We also all recognized that we’ll never be true minimalists with only the absolute bare necessities in our homes.

As we’ve all started to embrace minimalism, we’ve seen how minimalism saves money, along with how it can be beneficial in other aspects of life too.

If you are considering decluttering your home, here are 3 ways we’ve found that minimalism saves money.

As we've started to embrace minimalism, we've seen how minimalism saves money, along with how it can be beneficial in other aspects of life too.

Minimalism Prompted Me to Buy Less Stuff

I’ve been decluttering on and off for the past year. It’s a long-term goal of mind to get rid of all of the clutter in my home and separate myself emotionally and physically from the thinks I ‘thought’ I needed. There were so many things I’ve held onto over the past few years with the thought that I might need it in the future or I might find the time to use it again and it’s just not true for the most part.

Decluttering my home and embracing minimalism has not only freed my from the belongings I don’t want or need but it has also helped me become more aware that I need to spend consciously and avoid picking up more useless clutter at the store. Now that I am deep into the decluttering process, I no longer feel the need to purchase little things here and there (even if there are on sale) because I just don’t want to deal with the hassle of owning more stuff. Having this mindset has saved me tons of money this past year and I’m happy to say I hardly make purchases that are outside my budget because I feel more content, and have clear values and more control over my money.


Minimalism Allowed for a Cheaper Move

I recently moved from NC to TX, and then from TX all the way to NJ. I can’t even begin to imagine how much those moves would have cost had I rented an actual moving truck (or used PODS).

Before the first move, I sat down and tried to figure out if it was worth getting a truck or not. First off, I had to account for towing my car behind the truck, which was going to be a couple hundred dollars.

The biggest thing I owned was a bed – one I had purchased just a few years ago. But… mattresses aren’t all that expensive. If the truck itself was going to cost me $1,000, plus the $400ish to tow my car, plus more gas and more expensive tolls, it didn’t seem worth it.

Instead, I decided to only bring what fit in my little 2-door Civic, and I survived perfectly fine sleeping on an air mattress and having just the essentials.

When it comes to lowering costs, I’m fine getting creative, even if that means doing a few things others balk at. While it might sound a little crazy, we’re made to adapt, and that’s exactly what I did.

In the end, I’m much happier knowing I have the freedom to pick up and go whenever I want to. It won’t cost me a bunch, and it’s manageable when there’s no one else around to help. Being burdened by “stuff” isn’t fun for me.


Minimalism Allowed Me to Get a Roommate

When I first moved into my 4 bedroom home, I didn’t think it was too much space for me, my pets, and my belongings. But as time has passed, and I’ve realized just how little I actually need to live, I’ve changed my mind about my home.

I began purging things from my home that I no longer needed or didn’t enjoy having in my space. Before long, I realized that I could benefit financially by moving to a smaller home with lower utility bills and a lower monthly mortgage. The other option was to get a roommate, and this is what I ultimately ended up doing. Because I cleared out nearly my entire  basement, I was able to have my brother move in with me to help both of us lower our bills. Minimalism saves money by allowing me to live in a smaller amount of space.


Can you think of other ways that minimalism saves money? Have you embraced minimalism in your home?

FCP029 – Minimalism and Money

Welcome back to the Financial Conversation Podcast!

This week’s episode is a combination of two of our favorite topics: minimalism and money!

Minimalism has become a hot topic in recent years and we discuss things like what originally got us excited about minimalism.

Minimalism and money have more to do with each other than you might think. We’ll give you some examples of how minimalism and money can go hand in hand.

Minimalism and money go together in more ways than you think. In this episode, we cover the different ways we've been able to benefit from the trend.

In this episode we discuss:

  • 1:15 – Do you start life as a minimalist or is it a learned trait during adulthood?
  • 10:00 – Erin’s “Extreme” minimalism
  • 15:30 – Has minimalism saved you money?
  • 21:00 – Getting rid of non-essential items
  • 23:00 – Benefits of minimalism besides saving money
  • 29:15 – Cleaning up digital clutter
  • 31:40 – Do you use premium online storage or pay for a physical storage unit?

Related links to check out:

Like It? Subscribe!

We would love it if you subscribed via iTunes, Stitcher, or SoundCloud, or if you left us a review! While we love getting together and chatting each episode, it’s great to know people are listening. =)

We want to hear from you! Do you have suggestions or questions? Comment below, or follow us on Facebook or Twitter.

3 Tips for Making the Most of Your Day Trips

If money is tight, it can be tough to even think about taking a vacation or getaway. That’s why things like staycations and day trips have become so popular over the past few years as more people became concerned about their personal finances.

In this week’s episode of the podcast, we covered a few different ideas you can use to enjoy your city or small town, one of which was taking a day trip to explore your area.

Day trips are a great way to getaway without much expense since you won’t be paying to stay overnight in a hotel or other accommodation. If you are thinking about taking some day trips to explore your area, here are some of our best tips for making the most of them.

If money is tight, it can be tough to think about taking a vacation or getaway. That's why things like staycations and day trips have become so popular.

Budget Accordingly

Estimate how much your day trip will cost ahead of time by planning out what you will do and considering all the expensive that will be associated with your outing. Consider the cost of parking and fuel if you’re driving, public transportation if you are going to rely on it, food and snacks, the entry price to certain events and facilities and so on.

It’s important to have a realistic idea of how much you plan to spend and how much your activities for the day will cost you so you can brainstorm ways to save and cut those expenses. I get paid twice a month and I always try to set aside enough money for any travel plans or activities I have (even if it’s just a day drip) at least a few weeks ahead of time. An easy way to save once you know what your expenses are is to eat well before you leave or bring a lunch with you in a cooler so you won’t spend money on pricey food. You can also invite friends or family to come with you to split the cost of transportation.


Have an Itinerary

Having a rough idea of how you want to spend the day will also help you budget. You might think, “It’s just one day, why plan anything?” but you’d be surprised at how many options you might have, depending on where you’re going.

I recently decided to take a day trip to San Antonio, TX, but after looking around at what was in the city, I was overwhelmed. There was so much to do, and of course, some things are more expensive than others.

In the end, I decided to go to a state park not far from the city center. But there was one problem: there were at least 10 different things to do in the park alone! There’s a zoo, a train ride, a Japanese Tea Garden, a museum, trails for hiking, golfing, and the list goes on.

I narrowed it down to the zoo and tea garden, along with getting food and coffee in the city afterward. If I had just gone to the city with no plan, I definitely wouldn’t have been able to budget properly, and I probably would have missed out on a few things or spent an hour deciding what to see.

No matter where I’m traveling or for how long, I always make sure to have some sort of itinerary so I have some knowledge about the spot beforehand.


Clear Your Schedule For The Day After

Sometimes my day trips turn into marathon-like days. Since the area I live in is so rural, if I take a day trip to the nearest city, I have to drive about 3 hours one-way. This means getting up and leaving bright and early, sometimes as early as 6 a.m., and getting back really late.

While I always enjoy my day trips to the city, I’m always exhausted the next day. This is why I try to keep my schedule for the day after my trips light so I can have some extra down time for resting and recuperating instead of planning to have another busy day.

If you don’t make sure you have down time after long day trips, you likely won’t enjoy them and want to take more to explore your area in the future.


Do you take day trips very often? How do you make the most of your day trips?