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An Unexpected Encounter

dandelion, drop, light

I had an interesting encounter at the nail salon earlier this week. The salon owners are long-time family friends — a gorgeous Vietnamese couple with two beautiful children. The nail technicians there are also Vietnamese; however unlike the owners, their English is very poor and they are mostly recent immigrants to the United States.

When I sat down to begin receiving my manicure, I was welcomed by a new face; a soft-spoken Vietnamese man, who introduced himself as Stan. I assumed that his circumstances were similar to the other nail techs I had spoken to in the past. Yet, the tattoo on his left forearm told a much different tale. A geometric design — it looked like a sunburst, but the rays of the sun were traveling rectangles. I knew he had a story…

I can’t remember how our conversation started, but I certainly remember where it went. We spoke non-stop for the duration of my manicure. Stan’s story is truly remarkable. He was born in Vietnam and traveled to The States with his mother as a child. He did very well in school and after graduating, he went to university to study finance. After college he became a financial analyst. In his various roles in finance, he traveled around the world and lived in several countries, including China, Thailand, and Vietnam. After many years in finance, he determined that it was not for him. He was tired of being a wage slave. He was tired of working hard and earning a lot of money but no personal satisfaction.

He abandoned his final post as an analyst, took his savings, and moved to Las Vegas. In Las Vegas, Stan became a hard core party-er and gambler. He lived a life of exorbitance, some nights winning tens of thousands of dollars within hours — only to blow it all away again before sunrise. Not surprisingly, he eventually got tired of the party lifestyle, too.

A few years ago he moved from Las Vegas to Tampa. He wanted to live a simple, moderate lifestyle. He wanted to make enough money to live comfortably and enjoy life. And that’s when he became a nail tech. It was simple work that made him happy. He could create while meeting interesting people constantly. At the end of the day he had no headaches and no stress or high blood pressure. He could enjoy life, take small trips, and engage in meaningful relationships. It was his definition of a good life — no debt, no stress. (It sounds like a good life to me.)

After sharing his adventures, we moved to the topics of politics, philosophy, and religion. I know… heavy stuff for a manicure appointment. But Stan is not your typical manicurist (and maybe I am not your typical manicure recipient). We talked a lot about debt (particularly my student loan debt) and Stan shared an idea with me that I hadn’t heard before:

In the United States, he said, every right comes with a responsibility. However, most of those rights are not worth the responsibilities attached to them.

For example, a Bachelor’s degree with a $60,000 price tag. Or a three bedroom home with an adjustable rate, 20 year mortgage. Or a Lexus SUV with a lease payment that keeps you drowning for 72 months. What a concept and what truth there was to this idea! It is true, in the United States we have so many rights, but they all come with unrealistic or unreasonable responsibility. In other words — the juice ain’t worth the squeeze!

When we talked about religion, I mentioned the fact that (like most of my generation) I am extremely spiritual but not very religious. I got into my old “religion is responsible for more death & war than money, politics, and hatred combined” speech. Stan stopped me in my tracks. He hit me with another idea that I had never really considered:

War is necessary. There is a great balance in the Universe and all things are necessary. Without bad there could be no good. Without hate there could be no love. And without war, there could be no peace.

What an amazing way to look at things. It was, and is, hard for me to swallow. I find it difficult to accept war on any terms. It goes against every fiber of my being and every notion of righteousness that I hold. Yet. There is absolutely truth to his point. There is a great and necessary balance and perhaps, war too, has its place in it.

It was not long after that part of our conversation that Stan’s next client walked in and he finished with my hands (and mind). He very abruptly walked me to the dryer where I sat in a state of excitement and shock. Had I really just had this intense and wonderful conversation in the nail salon? With the soft-spoken Vietnamese nail technician? Yes, I had. It was amazing. Aside from giving me some incredible food for thought, it was also a great reminder of reality: Stop making assumptions about people because of their jobs, their backgrounds, their ethnicity, their level of education, or any other thing that you can use to make assumptions. Every person has an incredible story to tell you. Sometimes you will be lucky enough to have them share it with you.

So what do you think? Have you ever had a routine visit turn into a philosophical gold mine? And what do you think about the ideas I mentioned — rights & responsibilities and the necessity of war? I’d love to hear your thoughts in the comments.

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    My Journey to Financial Freedom | Part 2: The Climb

    Emergency Fund

    Three years ago, I was nearly $60,000 in debt. I had a Bachelor’s degree that didn’t appear to be worth its weight in salt and a job that couldn’t cover a fraction of my monthly bills. I was terrified.

    Today, I am closer to complete financial freedom than I ever dreamed possible. Last week, I paid off my last remaining credit card balance. This two-part post is a celebration of this incredible milestone in my journey.

    In part one, I explained how I got to that terrible place. In part two, I will explain how I’m getting out of it (and how you can do it, too).

    ————————————————————————

    1. Change the way you think about spending money. For most of my life, I believed that money was made to be spent. I believed that I *deserved* to spend every dollar that I earned on some material thing that would “make me happy.” I coveted material possessions—clothes, jewelry, electronics, cars. What I realize now is that money is not meant to be spent. You only need to earn enough money to survive. You should have enough money to buy only what you need. There is no need for excess.

    “You’re not your job. You’re not how much money you have in the bank. You’re not the car you drive. You’re not the contents of your wallet. You’re not your fuc*ing khakis.” (Fight Club)

    This shift in mindset is hard to adjust to at first. You may not like the reactions that you receive from people. Believe me, I’ve been called cheap a few times, but I pay no mind to it. I would choose cheap over poor any day.

    2. Keep a budget. I highly recommend using Mint.com. I started using it in September and it has been one of the most transformational and useful tools throughout my journey to financial freedom. It allows you to sync up all of your accounts (loans, checking, savings, etc.) in one place. Then it keeps track of every transaction that you make and sorts/organizes all of the data for you. It allows you to track your spending over time and by category. It gives you incredible perspective and insight about where your money goes each month/year. It has been a truly eye-opening experience for me.

    If you’re unwilling to try Mint, you can keep a budget on a spread sheet or even by hand. However, the important thing is to be completely conscious about where every dollar you spend is going.

    3. Use a debit card. To reap the full Mint.com experience you should use a debit card for every purchase you make. Using the debit card will automatically flag each transaction you make into the appropriate category. So if you go to Shoprite, it will get marked as groceries. If you go to Home Depot it will get marked as home. If you stop at the gas station it will get marked as automobile, and so on.

    I use my debit card (linked to my checking account) for almost every single transaction that I make. I also have all of my monthly bills (like my auto insurance, utilities, and gym membership) automatically debited from the same checking account each month. It makes keeping track of my spending that much easier. Plus, I do not like dealing with cash. The debit card is quick, easy, and is accepted almost everywhere now.

    Whether or not you use Mint.com it is a good idea to use a debit card simply because you can review all of your purchases and purchase amounts on your monthly statement. Trying to keep track of receipts is a hassle that I don’t have time for.

    4. Pay off credit cards and cut them up. Paying off my credit cards was my first priority. For awhile I tried “credit card surfing.” Let me just tell you from experience, it’s overrated and it really doesn’t work. The idea is that you surf from credit card to credit card by transferring balances. A lot of companies will give you 0% APR for 6 months if you transfer your balances over to them. After the 6 months, you “surf” to a new card with another promotional rate.

    The problem with this tactic is that it gets messy quickly, it becomes difficult to keep up with, and if you lose track you will end up getting burned by high APRs, finance fees, cancellation fees, etc. Also, it probably doesn’t look great on your credit report if you’re opening up a new card every 6 months or so.

    It is much safer and wiser to just stop using credit cards! My theory is simple and has taken me very far: If you can not afford to buy it, then you can not afford it. Period. It is simple logic.

    5. Eat in. This is one of the easiest changes to make, but it also comes with an enormous, positive impact. When I started closely tracking my spending habits, I was shocked to see how much I was spending on eating out. A meal at a decent restaurant goes for about $25 per person. If you eat out twice a week, that is $3,120 a year. If you grab lunch out during the work week, it’s about $8 a day. That’s $2,080 a year. Put those together and you could be spending $5,200 a year or more on dining out! That is outrageous and completely unnecessary.

    Since I started eating in and packing lunches, I’ve taken my monthly food spending from $500 down to $200 or less! Over time, that means enormous savings. Check out 5dollardinners.com for some awesome, inexpensive recipes. I love it! Also, investing in a crock pot was one of the wisest decisions I ever made—chili, sausage & peppers, and goulash will be your new (delicious, cheap) best friends. (Here are some more tips for eating healthy & mindfully.)

    6. Direct deposit money into savings every month. This is my final—and perhaps most important—tip. When I began my journey to financial freedom, I opened a savings account with ING Direct. It is an easy-to-use online savings account and it gives you interest on the money that you save. It also allows you to set up easy direct deposits.

    I started out small, depositing $50 a month into my savings. As I learned to keep my budget tighter and tighter, I increased the amount that I put into my savings each month. Currently, I am putting away $500+ per month and hope to get closer to $1,000 per month in the very near future.

    When you direct deposit the funds, it comes out automatically. It is painless because you don’t have to do a thing. Because it’s automatic, after awhile you don’t even notice that it’s missing. (I remember reading that on another blog several months ago and thinking, “Are you out of your mind?! I’m not going to miss it? Yea right!”) But I can honestly say that after a few months, you adjust to the missing money. You truly do not miss it once it becomes normal for that amount to be deposited into savings automatically each month.

    It has been one of the best decisions that I’ve made and because I’ve worked so hard to get to this place—I don’t touch that money! I am keeping it there for a rainy day or to pay off my student loans someday in one fell swoop.

    ————————————————————————

    As I stated at the start of this post, three years ago I was almost $60,000 in debt; I was twenty-three years old; and I was scared to death. Today, I have my finances under control! I am on the road to financial freedom and you can get here, too. Truly, it is not as hard as it seems. With common sense and a bit of dedication, it will happen. Paying off my last credit card balance was like taking chains off of my wrists for the first time in seven years. The feeling was completely priceless. If I can do it, anybody can.

    So, what are your financial goals? Have you ever been in financial prison? How did you free yourself? If you’re still there, what are you going to do to break free?

5 Comments

  1. Dena, Stan succeeded in doing something all your education was not able to do: help you open your mind.

    Now, when people start going off and spouting the same old stuff, you are going to think back to Stan, and you’re going to wonder.

    And it’s the wondering that’s important. The people who are sure, have lost their wonder.

    Stay in wonder!

    Coming in from twitter, smart to post your link.

    1. Dave, you have absolutely, 100% hit the nail on the head. In retrospect, there are many things that I would have done differently, spending a fortune on a Bachelor’s Degree that would land me in a less-than-perfect situation is one of them. But, we live and we learn. And there is no sense looking backward. Upward & onward!

      It is golden and rare to meet someone so open & honest. Really refreshing for a casual encounter!

      Thanks a million for your thoughts.

  2. I’ve had a similar experience talking to a new friend I met some days before one on one. First we had small talk all the time but then we started to be philosophical and I was amazed that “such a guy” could have thoughts like that..

    There is so much to learn from your story! I don’t know where to start and I am sad that I won’t learn it deep enough only by reading it..

    his approach to war is very wise.. it’s the ying yang philosophy, seeing anything as it is, not judging.

    I love that Stan has found his passion in living a simple life, it’s sad that he needed to work a lot for that knowledge.

    What I like most is what he said about the responsibilities you get with your rights. I really don’t know if that Bachelor’s degree is worth the money? But I am afraid that I will never truly KNOW it until I’ve paid the price once and return to the simpler life again :/ …

    1. Thank you for your comment and for sharing a bit of your own story. The fact that you are living life, taking the chance, and experiencing the journey for yourself is the most important thing. We must all walk our own paths. We can not learn simply by hearing someone else’s lesson. Instead we must live the lesson ourselves.

      I am wishing you the best of luck, friend.

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