Today is Dr. Martin Luther King Jr. Day and while hundreds and thousands of people across the U.S. are marching for equality-I’m thinking about my money.
Don’t get me wrong, I’ve marched and volunteered on MLK Day. I’ve protested inequality and lack of access to: services, education, and opportunity. I’ve wondered often if I was making a difference?
In 2008 I ended up staying in a job (good decision at the time) because I saw that bad economic headwinds were starting to happen. I also stayed because I had no choice-my money was funny and not in a good way.
When Dr. King was fighting for equality I’m sure he never envisioned: out of control higher education debt, credit card debt, housing being unaffordable, and the rising cost of medical care.
My money has become political not because I’m a person of color…even though that is important. It’s political because there seems to be a war against the middle class-and I’m a part of it.
I want my children to have access to the things that I’ve had: ballet lessons, gymnastics, horseback riding, sleep away camp, cheerleading, and college.
One of the main reasons why I’m working so hard to pay off my debt is because I want to have a family and I don’t want to bring my family down because of my finances, I want to lift them up.
In the past 5 years I have become more and more aware of the power of my money. My money, isn’t just my money. The money that I earn through work, spend on services, and invest in money earning vehicles is political. I don’t understand why it took me well into adulthood to figure this out.
In the past 5 years I’ve focused on always buying products made in Colorado and patronizing Colorado Businesses: Izze Drinks, Smashburger, Chipotle, Noodles and Co., Larkburger, and Justin’s Dark Chocolate Peanut Butter Cups. I also try to patronize Vesper Lounge, Wednesday’s Pie, and Punch Bowl.
I’ve become increasingly convinced that I need to spend my money where I live. I don’t feel like supporting other countries (not politically correct-but honest) I want to support my fellow American citizens.
At the same time I must also pay down my debt, invest, and work on the steps needed to create a lasting legacy. Even though I don’t currently have children, I would like to have one or 2 in the future. I want to teach them about money, living a debt free life, building wealth and helping others. I want to build wealth so that when I’m gone I can give some to charity, to my kids, and to whomever else I feel like helping out.
When I initially started blogging it was a great way get my thoughts out there and find a community of people who supported my dreams and goals. As I move further into debt repayment I understand that I have an obligation to support and help others attain financial wellness so that they can in turn help others.
The reality is, my success or failure doesn’t just affect me-it affects my community, and my nation. We are a collective no matter how much we talk about the individual spirit of the American people. It affects everyone when people aren’t well-educated, it affects us when people are in a continuous cycle debt, it affects all of us because money problems affect people’s health, mental and physical. Money affects people’s marriages-and their children. It touches on all aspects of our lives.
Dr. Martin Luther King Jr. didn’t just fight for people to have access to places-he was fighting for financial equality. I owe it to myself, to my relatives, and yes, to Dr. King’s legacy to do better than this.
I owe him.
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Nothing wrong with keeping your money local. It’s a good indirect way of starving the beast in DC.
I try to spend in Colorado and buy American. I’ve become a lot more intense about it.
I definitely understand and respect your decisions about where you spend your money. It is remarkable how each penny is more significant because of the times we are living in. I agree that we “put our money where our mouth is” – where my money goes definitely shows what matters to me.
I’ve become very committed to the idea of focused spending. Have you ever read the book “Our Black Year.” It’s about a family’s year of shopping only at Black businesses in the greater Chicago area. I am more focused on shopping at local Colorado businesses regardless of color, and U.S. businesses. Similar to MochiMac at save.spend.splurge She won’t buy anything produced in China. She also prefers to purchase Canadian made/American made goods. I just don’t see the point in paying for services that keep people in my community/city/ and country unemployed. My dollar has power and I realize that now.
I’ve been working on a post where the concept is “voting with your dollars”. Nothing is more powerful than how we spend our money, so I do my best to support companies I appreciate with policies I agree with.
I’ve gotten really intense about it. I try not to be preachy with others, but, I’m trying to lead by example. It’s important to me to walk the walk. I just feel that a cheap shirt from a crappy factory in a country without safety controls isn’t worth it. It doesn’t mean I will be purchasing 100% American. But, my percentage has gone up quite a bit. Think around 50%.
I liked your statement regarding how you don’t want your finances to bring your family down. I know that feeling all too well – how we handle our finances will have a direct effect on our spouse and our children’s lives. That’s what keeps me moving forward in bettering our finances during the tough times. 🙂
I am feeling a lot more open to meeting someone and sharing my life with them. I have been really resistant (subconsciously) in the past because I felt so out of control and like a fool. Now, I have a plan and I’m working that plan. I no longer worry that my finances will negatively affect my family.
I’ve been hearing more and more about “the war against the middle class”. Becoming debt free is definitely a weapon that we in the middles classes can use to fight against the agents of that war – banks, credit card companies, ad executives. You’re right about the value of community to support your dreams and goals. Personal finance and debt reduction are not things that people often talk about, so it’s great to find that community online. I’m sure Dr. King would encourage you too. Freedom from debt is a worthy goal, and he was all about freedom.
I can’t wait to get my finances settled so that I can work with other people and help them strengthen their finances. Part of getting our money to grow is to really understand how powerful each dollar is. I feel like people are so removed from actual cash and so enmeshed in debt that it’s hard for them to imagine the power of an actual dollar. There is a war against the Middle class but we aren’t as powerless as we believe we are.
Well, another incredible article! Thanks for sharing your experience Michelle. This is very inspiring!
I finally understand the politics of money.