Please welcome Amanda from Frugal Confessions as our guest for today’s Financial Literacy Chronicles interview here on Enwealthen.
Please tell me a little bit about yourself and your blog.
I’m Amanda L. Grossman, a work-at-home-mom of an 18-month old, living in Houston with my husband and our cat, Danny Boy. You can find me on Frugal Confessions, where I’m a Money Organization Strategist helping people put their financial houses in order. You can also find me on Money Prodigy, where I’m closing the money education gap, one kid at a time.
The only place where success comes before work is in the dictionary.
Can you share your most impactful money memory from your childhood?
I was the lead drummer in our high school marching band.
We were a military marching band, which basically meant we played only military marches. It also meant we wore these expensive, military-type tunics. I lost mine at one of the marching events, unfortunately.
After having to borrow one for several parades, they finally sent me a bill for around $328, and I had to pay for it all. My parents didn’t help. That basically emptied out my account (which was filled with money hard-earned on a dairy farm), and made me really appreciate my belongings + money a lot more.
Talk about a rough lesson in responsibility!
We all receive financial advice from people in our lives. What’s the most interesting or useful financial advice you’ve received from your community?
Several years ago, my beater car broke down.
I was shocked. I was upset.
My colleague and friend asked me what was wrong. When I told him, he turned his face down at me in a very fatherly way (he’s probably about ten years older), and said, “Amanda, you’re a smart girl. This shouldn’t have been a surprise. You’re supposed to set aside money each month into a savings account and save up for your next car while you don’t have a car payment. That way when it breaks down, you’re ready to buy the next one in cash.”
I had the money set aside anyway to pay for the car in cash because I’m a huge saver. But I didn’t have dedicated money set aside to pay for a new car in cash. He really brought this idea home for me: that you can plan the “unplanned” in life by thinking ahead on what’s going to break down and/or think about the normal lifecycle of things in your life.
What financial literacy education did you receive in school? If you had a magic wand, what would you change to improve that?
Honestly, none at all!
I do not remember one. single. lesson. on finances or money in school. Not in middle school, high school, or college (though in college I did take micro and macro economics as part of my major). This is one of the very reasons why I started Money Prodigy, because the financial literacy education in the United States is sorely lacking.
With Money Prodigy, I’m looking to close this money education gap through experiential learning. Recently I received the Plutus Foundation grant to create my Mt. Everest Money Simulation program, and I’m plugging away at it. I’ll be bringing it into schools here in Houston hopefully before summer begins.
There are so many blogs on the internet, what are 3 of your favorite blogs that instill financial literacy, either by word or action?
You’re talking to a mama of a 18-month old, so I feel like I’ve been out of the loop for the last two years + using all of my time that I do have to keep up.
Still, when I’ve got a few minutes, I regularly enjoy money articles from Lucky Bitch (this gal will have you completely changing your relationship to money, whether you believe in manifesting or are a complete skeptic), Rockstar Finance (J. Money rocks at finding the most interesting, make-you-think money articles out there), and Wealthy Simple’s Money Diaries. I could read through that for hours! You get inside info on the money lives of actors, actresses, chefs like Anthony Bourdain, etc.
you can plan the “unplanned” in life by thinking ahead
I like to keep inspirational quotes around the house to remind me of what’s important. Do you have a favorite money quote you use to inspire your financial life?
One of my favorite money quotes is, “The only place where success comes before work is in the dictionary.” ~Vidal Sassoon.
Thanks for contributing to the Financial Literacy Chronicles here on Enwealthen, Amanda!
Amanda L. Grossman is a Money Organization Strategist, as well as a champion for shaping kids at any stage of financial knowledge into Money Prodigies. She, her husband, their 18-month old, and their cat Danny Boy live in a fixer-upper in Houston TX. You can connect with Amanda on Pinterest both here, and here.
Readers, please share your thoughts on Amanda’s experiences, any additional questions you have, and suggestions for who else you’d like to see interviewed in the comments below. And please do spread the financial literacy and share this with your friends on Facebook, Twitter, and Pinterest. Thanks!