I’m Scared To Death Of Being Broke

HomeManage MoneyI’m Scared To Death Of Being Broke

Want to Score Cash For Free?

  • Survey Junkie: Earn up to $50 per survey with one of the highest-paying survey sites on the web. Join Survey Junkie Now
  • SoFi Money: Earning money for unlocking better features sounds like a dream. But this free banking app really pays you $100 with you switch your direct deposit to SoFi Money. Get SoFi Money.
  • Aspiration: This mobile banking app lets you do everything for free and takes no fees — ever. Better yet, if you join through this link you can get $100 in your new account.

Everyone has their own truth. Their own story. Mine now revolves around money as a vehicle to future experiences. I know what you’re thinking – I’m some money obsessed freak…I promise that isn’t the truth. I’m just scared to death of being broke.

being broke
“I’m scared to death of being broke” – Lance

Growing Up

I grew up in a typical nuclear family – 2 parents and 3 kids each about 3-4 years apart. My dad starting working (along with his older brother) at a very young age to help support his mother and contribute to the household income. While he didn’t go to college, he’s done pretty darn well for himself and recently retired due to a medical issue. My mother, whose father owned a small car lot, attended a little college but never graduated. She worked for the same company over 30 years and recently retired and went back to work part-time.

My mother and father are extremely hard working people that provided a wonderful life for me and my siblings. Growing up I felt no different than the rest of my peers. Sure there were some who went on extravagant and luxurious vacations to Africa. There were kids who drove BMW’s or Mercedes at age 16 – but that isn’t NORMAL is it?

We went on family vacations to the beach and to national parks. We spent time with family and friends celebrating holidays and enjoying each other’s company. Each of us 3 kids got their license and a vehicle around age 16. We’ve all gone to college and are starting our path to being successful. I’m thankful for my parents and everything they sacrificed for me and my siblings. The point is, I never felt disadvantaged or inferior at any point.

Looking Back

Now that I’m the ripe old age of 27 with all these years of wisdom…(can you sense my sarcasm?)…I have a slightly different viewpoint. I still never felt anything other than normal growing up.

Want Free Money?

  • Aspiration: Want to get spotted a $150 for free? Simply sign up for Aspiration, and the free banking app will give you cash for free, you just relax while it gives you $150 just for opening a new debit card. There’s no catch. This bank account is legit and only takes two minutes to sign up for an account.

My change in perspective comes from seeing how my parents are doing today. They are still both incredibly hard working and have given everything they have to make sure their kids have more than they did when they grew up. I just wonder if they forfeited too much of their hard work for our benefit and have much less for themselves as they are nearing retirement age.

I wonder if they were followers of My Blog or some of the other wonderful personal finances resources online would they know about smart money tips that would position them for long-term financial success?
Maybe we would have eaten out less. Maybe they would have saved more and purchased less expensive vehicles for us kids that didn’t require financing. Maybe they would have put more thought into retirement and long-term finance topics. Maybe they would have it easier today.

After High School | During College

College was incredibly stressful for me. It wasn’t just the sheer number of class assignments, the constant studying or the frequent tests. I was beginning my path to understanding personal finances. At this point I wasn’t aware of books that could have helped me, I just knew the basic rule of spend less than you make. This is difficult when you’re paying for tuition, housing, and food all while going to school full time.

I worked several jobs throughout college. I maintained one throughout my entire time in college and would add on an additional job or 3 when I could. At one point I was working 4 separate jobs. I was lucky enough that my parents were able to help, specifically when things were difficult. I’m sure my mom remembers those times when I would call in an anxious panic and crying due to the immense amount of stress I felt.

I was able to pay for most of my tuition over my 4 years in college through these jobs. But the kicker here is – I STILL GRADUATED WITH $90,000 IN STUDENT LOAN DEBT. Sigh.

This came from housing, food, books, supplies and interest capitalization.

After College

When I graduated college I felt like a bad a$$. I graduated from a great school, with a great degree and a high GPA. On top of that, I started my professional life at a consulting company where I would travel and make a great salary. I was set!

I purchased a BMW because I felt that I deserved a nice car. I went on several vacations because I needed it. I purchased the new iPhone year after year. I was going out to bars, spending money on fancy meals, drinks, and cabs. I wouldn’t say that I was broke, but I was spending a lot of money and I wasn’t happy with the amount I was saving.

It was at this point I developed my extreme fear of not having enough money. Not that I needed to be rich and live a life of the rich and famous. I realized that working 4 jobs in college and then having a high-paying job right out of college wasn’t enough to pay for my lifestyle. So I needed to change my lifestyle. I needed to make a choice. So I did. And now I fear I could fall back into making poor choices that’ll greatly impact my family. I’m intent on not letting that happen.

being broke

Me – Today

I decided one day that I’d had enough. I sold my BMW and purchased a Honda Civic. I cut back spending across the board including getting rid of cable, negotiating every single bill I had and I got a roommate. With all of this change, my life seemed so much more meaningful. I was no longer concerned with what people thought of what I was driving, wearing or doing. I was happy with myself and my choices.

The man I am today is entirely due to the incredible job my parents did raising me and my thoughts on finance come from seeing my parents and tons of people I know struggles with money.

I’m going to build a solid foundation for financial success while I’m young, not married and don’t have kids. I live frugally, spend less than I make, max out my work 401K and invest in real estate. I plan to ramp up these efforts over the next several years in hopes that the foundation I’ve built continues to grow and eventually positions my family and future generations for success.

I don’t want to live an extravagant lifestyle. I don’t need all that. I want to be financially free to the point that I don’t have to work the rest of my life at a job I hate to only make enough money to support my lifestyle. I want to retire from full-time work at an early age so I can spend valuable time raising my kids and supporting my family.


Want Free Money?

Simply sign up for Aspiration, and the free banking app will give you cash for free, you just relax while it gives you $100 just for opening a new debit card. There’s no catch. This bank account is legit and only takes two minutes to sign up for an account.

Learn more

The Best Apps to Save You Real Money

We are on our phone a lot, right? Wouldn't it make sense to save money with the best money saving apps?

AppAt a glancedownload
Get a $100 bonus at Aspiration when you open and fund an account with $10 or more. Then use your Aspiration debit card to make at least $1,000 worth of cumulative transactions within 60 days of account opening.
Open a new account in the next 24 hours and you could get up to $200 in free stock.
Truebill reviewTruebill
This free app delivers on its promise to save you money effortlessly. You can use it to lower your bills, cancel unwanted subscriptions and bill negotiations.

About the author


Please enter your comment!
Please enter your name here

On a similar note...

Explore More On

7 Best Bank Bonuses and Promotions of April 2021

aspiration★★★★★This Company Will Give You $100 for Opening a Free Account
Boost your savings and earn up to 1.00% APY interest on your savings. Get up to 10% cash back on your purchases. Get $100 bonus when you spend your first $1,000 with your new Aspiration Plus Card.
personal capital★★★★★
The First and Only Interest Earning Crypto Account
Receive up to $250 Bitcoin bonus when you make qualifying deposits over the first 30 days. Receive up to 8.6% annually on your crypto. Join the most trusted financial services for crypto investors on the market.
personal capital★★★★★Get Up $200 in Free Stock for Joining
Commission-free stock, ETF and options trades. Get a free stock worth up to $200 when joining (must complete application). Simple, easy to use investor platform with no account minimums.
sofi★★★★★All-In-One Investing That's Easy to Use
Tired of Robinhood? Invest in stocks, ETFs, crypto, or automated investing in all one app. No commissions for stocks and ETFs. Complimentary access to SoFi Financial Planners.
personal capital★★★★★The Smart and Free Way to Manage Your Money
Take control of your finances with the perfect union of technology and highly personalized service. Get access to free online financial tools, including retirement planner, investment checkup, net worth calculator and more. Digital-first wealth management advisor with 24,000 clients in 50 states.
blooom★★★★★401K and IRA Management
Start your free 401k and IRA management now. Find and reduce hidden fees. Improve your diversification.
cit★★★★★Enjoy the Benefits of a CIT Bank Money Market Account
A CIT Bank Money Market Account helps you get more from your savings with interest rates for maximum growth. Earn over 7x the national average with high-interest rates. It now pays to open a money market account with CIT Bank.
My Millennial Guide