Hello, it’s me…
Hi everyone, my name is Morgan Ottenbacher, the boss-lady behind this blog, New Money Rules. I thought I’d use this page to explain a little bit more what the blog is about and why I’m spending my weekends at Panera on the computer writing about personal finance instead of binge-watching Netflix on my sofa (because there’s plenty of time for that during the week, obviously).
Not just bubble-art dollar signs
I started this blog because I want to talk about money. Money is not everything, but it’s a basic fact that everyone needs it to exist in the world. Like we use language to communicate with others, we need money to engage in transactions that fulfill basic needs like putting a roof over our heads and getting food on the table. We need different amounts of money at different points in our life, but generally we need less now that we will later, so we save. We save for things and eventually we’ve saved enough to invest in down payments for houses, 401ks, a new business venture, or whatever it might be with the hope that our investment can be leveraged to grow our wealth to greater levels than we could achieve on our own.
Now that we’re capeesh on the universal nature of our need for money, the way we manage the money we earn, what we spend, and how we leverage our savings and investments are pretty much the opposite of that in that they’re pretty unique to each of us. Each of us has a different level of financial literacy, and when you stop and think about it, you might realize a need to increase your financial literacy. Maybe, like me, your method of managing money was a mix of parental guidance over the years, what your peers were doing, what seemed like the “adult” thing to do, and then overall relationship that you have with money.
There’s got to be a better way, right?
Yes. And I’m here to to provide strategies and advice that arm you with what the “better way” looks like. Spoiler alert: it involves a lot of honesty, simple math, and not doing what everyone else does. In my first post I talked about why you can’t keep up with the Joneses (because the Joneses are broke!). Using social comparisons to determine what your next move (and likely your next purchase) should be and using a benchmark set by others for how you spend and save money is a terrible idea. You need to find out what works for you, or “wwfy” as I’d like to coin the acronym here. What works for you is key because for example, while one person might be keen on using a budget, it might not work for someone else. Just as we are all unique, it’s inherent that our money management styles are going to differ based on our preferences, personality, and financial goals. This is part of the reason why I loathe things like the latte rule–personal finance is not a one size fits all, “cut this one thing out of your life and you’ll be a millionnaire”, approach. Thinking the same things will work for everybody is just not realistic.
Here’s where New Money Rules comes in…
The point of this blog is to provide financial insights, suggestions, and examine some of my own money-management ridiculousness of the past that I hope you can relate to and learn from. I think it’s important to talk about money because so many people treat their finances as this illusive, shadowy thing and their financial goals as vague, distant life events.
I think we do this because money is actually a very intimate subject. We don’t like to see how much we are actually spend because it might be a sign that change is needed. The arrival at the realization that you’re not doing what you should be doing with your money is uncomfortable. Adding up how much you actually spend on things isn’t fun, but getting honest with yourself can lead to peace of mind and confidence that you’re on your way to achieving your financial goals.
So yes, money is intimate, but so are your hopes and dreams. You owe it to yourself to get serious about your money and use it to work for you. You work too hard to do anything other than optimize your saving and spending habits, and that’s where, again, I hope the New Money Rules can help.
Whether you don’t know or you know, but just don’t “do”, I want to be a resource, a conversation starter, an encourager, or a debunker of money myths so that you can either learn about personal finance or find new ways to do what you haven’t been able to do before with your money.
I want to talk about the stuff that financial planners neglect to tell you. I want to simplify it and put it in words everyone can understand. Personal finance doesn’t have to be hard and in fact, I think it can be fun and humorous. I want to help you crush that whole #adulting thing, while making you laugh and feeling like you’re getting your life in order.
The money “rules” that I’m creating on this site aren’t there to say that your personal habits or rules about money are wrong, they’re there to challenge myself and others to examine their own personal habits. Also, they’re “rules” because the advice that I’ve heard others give and get about money is sometimes unhelpful or straight-up wrong. I hope I can help anyone figure out by reading this blog, the rules and attitudes you take with your money are either going to add to your wealth and your net-worth or detract from it. Basically, I want everyone to be rich!
I hope you stop back soon and share this with your family, friends, or whoever could benefit from it. I will try to post things more frequently (like every week). I do have a full-time job doing some number-crunching that’s not nearly as fun, so New Money Rules is kind of a moonlight thing.
Until next time,
#personalfinance #millennials #money #blogs #finance #newmoneyrules