Tomorrow is Thanksgiving.
The holiday of thanks!
As family (and the cold) descends upon my house, I thought it would be a good time to reflect on what I’m thankful for this year – personal finance style.
1. Starting my own business
In September of this year, I started my own business. It was a lesson in it’s not what you know, but who you know. An old boss reached out to me with an opportunity that I wasn’t explicitly looking for. Ultimately, I left traditional employment to become a financial consultant, and she is now my biggest client.
I’m naturally risk-averse, so having one client who makes up the lion’s share of my income makes me nervous. As a result, I extended my business footprint to include bookkeeping and financial CFO services.
While this has all come with many opportunities to learn about the impacts of self-employment, I’m thankful for the independence.
2. Learning to negotiate
As part of leaving traditional employment, I had to ask for a rate that would match my current salary, including performance bonus, plus cover what the cost self-employment tax and what I was losing in a 401k match, and health insurance. And to make it even more of an ask, I wanted to max out at 30 hours a week.
The figure I sent in was high. I got it! I’ve never negotiated before, but you bet I do now! Last week, I successfully negotiated the price down on a saddle I bought my daughter for Christmas. I would never have done so previously, even though it’s 100% expected at a market.
Learning to negotiate is something I’m beyond thankful for.
3. Attending my first networking event
I do not like small talk, and I don’t like attending events by myself. However, to diversify my client base and get some free marketing, I thought I should start networking.
This month, I attended my first networking event. I wouldn’t call it successful as I left after lunch, and I didn’t pass out any business cards. However, I’m choosing to think of the experience as a good practice run. It was the first. I broke the seal, and now I have plans to attend a few more events.
4. Learning about money mindset
I’ve spent a large portion of 2019 learning about mindset, including some specific focus on money mindset. I’m currently in the process of re-writing my personal money stories, including designing my future from my future.
Mindset is a beautiful thing and I’m thankful for the ability to adopt it.
5. My house (and even it’s mortgage)
One of my personal finance goals is to achieve mortgage freedom. It’s a lofty goal, and I might even call it an impossible goal. We bought above our means, and I’m okay with that. I love this house; it’s brought a lot of joy. And pain if I’m honest.
But I’ve learned so much as a result. I’m not going to pay off a multi-six figure debt by skipping lattes. But I can learn new ways to increase my income and learn to cut back on things that don’t matter. I can even stop feeling bad about having debt and use it to remind me to make wiser choices in the future.
6. My husband’s frugality
Simply put, my husband is a tightwad. Also simply put – because he’s frugal, I don’t have to be. I love him and I’m thankful for him!
7. Watching my children learn about money
My son and daughter started earning an allowance this year. They’re learning about saving and giving and the impact of the financial choices they make.
The most fun part is watching their money personalities emerge. My son is a natural saver, but also a natural giver, which don’t always go together.
His sister, well, she’s all me. She’s a natural spender, and we’re working on how to use that to her advantage.
Share your financial blessings in the comments. Happy Thanksgiving!