Money doesn't actually talk. We do.

My So-Called FiLife: Minhthe Luu

Like most people, I imagine my upbringing has a lot to do with how I view money today. You either adopt your parent’s views or you run in the opposite direction. I adopted.

The most valuable lesson I learned at a young age was to save for the future. Save for things you know are going to happen, such as college, but also save for the unknown. For my family, the unknown came when I was in high school and my mother lost her job. As if the financial impact wasn’t enough, my grandmother passed away from a stroke complication several months later.

The double blow is something I’ll never forget. My mom did get an unemployment check, but it didn’t add up to much. I was only a sophomore in high school. I offered to look for a job, but my mom insisted I focus on schoolwork. Fortunately, we were able to make ends meet, but that was only because my mother had saved money for a rainy day. Sometimes, some of life’s most important lessons are learned the hard way.

Ever since, saving has been a priority for me. When I graduated from college and took a job in Seattle, I maxed out my 401(k) and Roth IRA every year. As a matter of fact, the first check I write after New Year’s is my Roth IRA contribution for the calendar year. It’s been that way for seven years.

Sure, that money could’ve been put to other uses, like another vacation or two, but I don’t regret it. I don’t expect this to change now that I’ve joined FiLife as a project manager, even though I’m living in a much more expensive city. I sleep a lot better knowing that, if an emergency happened tomorrow, I’m prepared for it.

Thanks, Mom.

– Minhthe Luu

Photo: Photobucket