Why is this blog msmoneymoxy?? What exactly is “moxy” or “moxie”?
Webster’s dictionary defines “moxy”, which they spell as “moxie” as :
1: energy, pep <woke up full of moxie>
2: courage, determination <it takes … to pull up roots and go to a land where the culture and probably the language are totally foreign — M. J. McClary>
3: know-how <was impressed with his musical moxie and hired him as a solo>
It popped into my head as I was exploring names for my blog. And, I thought: Perfect! Because, I have had to be determined to rise above my early circumstances. I’ve had to have courage to even contemplate rising above my station. And, I’ve had to work night and day to gain the know how, the education, to rise above my early life.
Like a lot of people, I wasn’t born with a silver spoon. And, my parents and grandparents weren’t either. While I learned how to work to earn my own money at an early age, I didn’t learn how to make my money work for me without a lot of hard-won education and a lot of hands-on experience.
Financial management wasn’t taught in schools, not even college, back when I grew up. So I read everything I could get my hands on in the 70’s, 80’s and 90’s. I decided I’d have to go back to school to study how to be a Financial Planner in order to figure out how to make the lower middle class wages we made as a young couple with three young children not only cover all our current needs, but also work for us to grow for our future needs.
I couldn’t even do that until I returned to finish my long-delayed BS in the early 90’s. Surprise! Even with a business degree, I learned only theory. It wasn’t until 2000, when I chose to become a investment representative, and had earned all my licenses, that I began to learn on the job how to do this.
What I know from my own experience, and that of helping many others as a financial adviser, is that no one rises above their early circumstances without a lot of moxy: energy, pep, drive, courage, determination, know-how. (Being 3rd generation Irish and English immigrant, I like the word “moxy” better. It feels more like the Fighting Irish to me!)
I have given many hours to educating my clients, their children, and children in the classrooms where I was invited to speak about finances. I soon found that financial knowledge was not taught in most homes, and certainly not in any schools. If you weren’t born into a family that had money, you didn’t know how to make your money work for you, or to rise above your station at birth.
While I had a few middle class clients whose parents taught them to stay out of Debt, to live on less than they earned, and to save the rest, most had no idea. The lower class was/is completely lost in a wasteland. They are in constant trouble, hopeless cases to financial advisers, who are trained to manage investment portfolios. If you have nothing but debt, and no savings, there is no way for you to invest.
I named my first business Financial Solutions because I had to work with my clients first to solve their debt problems and help them set up a workable budget before they could find the money to save and invest to reach longer term goals. When 70 – 75% of the prospective clients you deal with have these same problems, you soon learn to roll with it. Some people are teachable and some are not. For those who were, I had something to work with. Sadly, for those who could not change, there was nothing I could do.
That’s where this blog comes in. I have always wanted to reach out to more people and to teach them how to deal with debt, live on less than they earn (save) and to invest for future goals (home, college, travel, retirement, etc). Since I sold my financial practice, this blog has been on the radar for me. In the meantime, many other personal finance bloggers have also begun PF blogs to help others solve problems that they themselves have had to solve. I am now free to build this blog of Financial Education – which can be a pathway to Financial Freedom, if you take it seriously.
What I hope to do with msmoneymoxy.com is to educate you about all those things you don’t know that can hurt you. And, to educate you about all those things you never learned about that can help you. I have much 1st hand experience in doing this for myself, as well as for clients.
You’ll learn to fearlessly slay debt. You’ll learn to squeeze budgets to make an Emergency Savings Account, and you’ll be thrilled to find the money to invest, even if only in your workplace 401k or IRA, if self-employed.
Please, don’t miss this chance to learn from an experienced adviser. I promise you that this blog is a work in progress, and I will continue to post daily, with ideas to help you reach Financial Freedom. What questions shall we cover first??