Welcome to Excavating Money

I realized I hadn't introduced myself yet.

Hi, my name is Justin, and I am originally from Panama City Florida but now live in Orlando. I am 25 years old, and I have an interesting financial journey already. 

I was the usual person of America. Didn’t know what interest was, amortization, debt, hardly anything. I was told by my parents to open a credit card to build credit. No other words were exchanged about financials. So… I decided to try things. I wanted to flip a manufactured home with my girlfriend at the time with 1,000 dollars in my pocket. I have taken multilevel marketing courses and actually went into an interview for one. Started three different “businesses” and lost 95% of my money buying single stocks. I was greedy and I thought I was smarter than everyone. Typical 18 to 24-year-old. All I cared about was to move money from another person’s pocket to mine. That’s all that mattered, didn’t matter how it was done. 

Luckily, I got a job delivering mail with the post office, not only was it the most money I ever made while living at home and working 30-40 hours of overtime every week, but I was able to have a lot of time listening to podcasts, audiobooks, and lots of YouTube. This was the real beginning of my financial journey. 300 dollars on debt because “I can buy a PS4 and only pay it off 25 dollars a month and pay it off? What a deal.” My bank’s credit card was extremely happy with me. 

After I ran ragged just chasing more and more money from the lovely post office, I decided to work with my grandfather flipping houses. This is when I learned a little about construction, and how renters sometimes don’t pay the landlord, but somehow have enough money to buy a new Harley Davidson when their tax refunds hit. I was there 3 months later when the Harley truck came back and picked it up. Not an income problem, but a spending problem. This was something that I have found out more and more over the years through more podcasts YouTube videos and even people in my personal life. 

I had a job where I would have to make conversation with the person next to me to make the day go quicker and several of them were very open to speak about finances. How they were excited to go into bankruptcy. How another was a single mother who had no idea what interest was on a credit card while going through a divorce and struggling to pay lawyer fees. A young adult getting into a 20% APR on a vehicle because they just don’t know any better. A wife trying their best to get away from her “husband” but couldn’t get away because of financial matters. A 75-year-old man still having to work because he had 7000 dollars in credit card debt still. “How are you supposed to pay an emergency if you don’t have a credit card?” That line was also repeated to me when I canceled one of my credit cards, “it is a good emergency fund”. Crazy that common practice is just to kick the can down the road, and it was sad to see that this world spun around money. Money provides the freedom to do what you want but yet it isn’t taught in schools and we Americans are in a horrendous debt cycle immediately after graduating high school. Usually, college debt, car debt, credit card debt, wedding debt, and house debt all build up within a 10 to 15-year span. And then have a kid while in thousands of dollars in debt. American dream.

Luckily for me, I had a great support system around me. My parents didn’t give me much financial advice as they were in debt until their mid 40’s but they set me up to have a wonderful life. They helped me study throughout school, helped me build a science project when I knocked on their door and told them that my project was due tomorrow and I need a poster board. Those trips to Walmart were not fun. They also helped me study hard for my ACT and made it possible for me to almost get me a full-ride scholarship for five years of college. As a stupid young kid who had no idea what to do with his life, I got an associate’s degree in those 5 years. Lots of gap years and failed classes. My transcript looks like a web address with how many W’s are on there. I threw away a golden opportunity to get a bachelor’s degree for free. All I could think about was how much I could make and how quickly I could do it. College was a 4-year distraction. What a stupid idea. I did succeed in my other blessed gift. 

Because I got a full ride for college, I had 15,000 given to me through a college savings fund from my grandparents and parents. So what does an 18-year-old kid do when he has a big lump sum in his pocket??? I bought a brand-new Mustang, the cheapest model available for 24,000. Boom. 18 years old, 10,000 in debt. I remember just signing papers, not hearing anything about interest, just sign sign sign. I got my dream car at 18 years old. Ford Mustang Lightning Blue. Nowadays my dream car is a Toyota Camry. Boy do times change.

That 138-dollar car payment for 5 years wasn’t bad. I’m still driving that sucker 7 years later and it’s still moving just fine. In 2018, a hurricane hit my hometown and damaged my car. A few nicks and bruises on it but a broken windshield. I was able to use the insurance money to pay off the loan. Debt-free in 2 years of having it! That has helped me a lot in my first few years of entry-level roles with low pay, and living in an extremely expensive area. At least that was a smart move, I wear those dings proudly on that Mustang. The school has gone a bit worse. I was set up so well and I threw away the biggest income-changing opportunity. 

I am now still in college today, having to cash flow it but luckily, I know what I want to do so no more changing degrees. My grades have increased and every time I have to pay for school it is for my own mistakes. It’s hard to know what you want at 18 though. My parents begged me to just choose one thing and stick with it. If you don’t like it, you can always change. Everyone told me different things and I had no idea what I was good at. No idea what I liked. I was a stupid kid who was preparing to stay in one job industry for 40 years, it scared me. My brother went into the medical field and became a nurse at 22 years old. Bringing in some serious money at 22. (45,000 a year teehee). He kept up school and today he is making 92,000 a year with his name on a building. And now he wants a career change but at least he can always be a nurse if he needs a job. I wasn’t smart like that. I just hit the coveted 45,000 a year. Serious money I thought at 18. Not so much at 25. But by living frugally I can make my bills easily and save for the future. Debt-free, renting, a fully funded emergency fund and employer-matched 401(k) contributions. Who would’ve thought it would be such a weight off my shoulders and now, I have a solid base to build on. Knowing I don’t have to struggle and knowing I can make ends meet by 40 hours a week and pay for further education and go on vacations has done everything for my mental health. Like three vacations a year! Cheap vacations like 200 a person but vacations! 

I have also been able to help others with financial questions they have and been able to give suggestions on finances which has helped my confidence. I’ve helped my grandparents and parents move their money into high-yield savings accounts. Helped my parents open a Roth IRA which they had never heard of before. 10 years of tax-free growth is better than 0! I’ve helped explain amortization schedules, and interest rates to people that aren’t aware. Helped myself and others with budgeting! Helped people see if you save enough money every week you can save up for a lump sum needed to buy something, so you don’t have to use credit to split it into smaller payments. Roth IRA math, 401k math, and amortization math on how to save thousands on interest just by adding a little bit every month toward your monthly bill. I know I have a ton more to learn about, especially later in life mathematics and rules.  But to start and build a base! I know a bunch of simple math to help! 

sThe psychology and the simple math that involves personal finance has always intrigued me. Helping others on top of that, Wowwee I feel like at 25, I have finally found what I am good at. And I know this help is definitely necessary. Finding money where it is buried. Not making more, changing the psychology to find more. 

Welcome to Excavating Money.