James Collins is a good friend of ours. He’s also one of the well-known bloggers who focuses on Financial Independence aka “early retirement”. (If you haven’t read his series on the stock market, do so now). In our first conversation, Jim helped us understand how scavengers can leverage even small amounts of extra money selling old shoes into real negotiation power. Being able to tell your boss you might want to leave can push your boss to value you more and get you a raise. Or because we sell enough old shoes, scavenging has let us lead completely independent lives.
Jim had an idea for our second conversation: Where did you learn about money? Did someone teach you, or did you just learn the good/bad money habits of the people you grew up with? Do you have good habits with money now? If so, how did you learn these new habits? If not, how do you change?
I know I had to unlearn a lot of poor habits of how to deal with money. Even though I was thrifty in many ways, I also lacked a lot of the knowledge of what to do with money once I had it saved…so I would eventually just spend it. Until I learned to see money as a tool, I was always stuck in a hamster wheel. We can sell all the old shoes on eBay we want, but it won’t make a real difference in our lives till we know how to use that money wisely.