What Financial Health Means to Me

June 29, 2016  |  No Comments  |  by Stephanie  |  Better Your Life
financial health stephanie taylor christensen

financial health by stephanie taylor christensen

Financial health the ability to move out of a career you hate. Financial health is the option to choose relationships based on emotion instead of perceived security. It’s confidence that you can leap into the unknown. Financial health is the freedom to live on your terms.

I grew up in a family where money was the catalyst behind a number of pivotal life events and emotions. My dad was a small business owner who grew up in poverty. Though armed with only a high school education, he took it upon himself to learn how the rich become wealthy, and provide a better financial life for his children than he experienced. He learned about the stock market, and exchanged phone calls with his broker daily. It worked well for him—until it didn’t. When we celebrated my birthday on October 18, 1987, the Taylor family had no idea that a margin call was to come in less than 12 hours. Black Monday changed our financial life entirely.

I wouldn’t understand the details of what had happened until I was nearly 30 and my dad passed, but the crux of the lesson wasn’t lost on my ten year old self: Money, material items and the sense of security they provide are fleeting. I didn’t need to see bills, bank account or credit card statements to know where my family stood financially throughout the years. Our financial security was palpable based on the amount of stress that was or wasn’t present on any given day.

While these experiences likely shaped the reason I am a freelance financial writer today, I didn’t learn about financial health until I was 26. I was educated and business-minded but had no idea that I was expected to live within my means, save money, or manage debt. I didn’t understand how to use credit cards or live on a budget.  But it didn’t bother me; I had no aspirations of being financially secure. I figured debt was the American way. My experience was no different than most: 57% of Americans struggle financially, according to the Center for Financial Services Innovation’s data.

It wasn’t until I met a former ex who had his financial act together that I learned you can chose your financial life. That was the start of what would be a five year journey to dig my way out from under $15,000 in credit card debt. I pinched pennies, worked side gigs in addition to my full-time job, said no to almost every non-essential purchase, and cried many tears of frustration. But in that time, I grew emotionally, and intellectually and physically. I learned that commitment to a goal dictates your success or failure. I learned that I had far more options over my financial path and where it could lead than I once believed. One day, after all the years of struggle, I was free of debt. For the first time, I felt financially empowered, capable and free to live on my terms.

Financial health is the ability to choose your path, whatever you want it to be. When you’re ready to achieve financial health, life is yours for the taking.