The Fear of Failure…and Spiders

As our moratorium on micromanaging money continues, I’ve started to think more about the role money plays in our lives. This post is part of that thinking process. 

When it comes to money, there’s a certain amount of fear that is ingrained in us as we grow up. We are taught early on that we need a good education to get a good job to make a good living to pay for a good home in a good neighborhood and provide a secure future for ourselves and our family. To do this, we need health insurance and life insurance and stocks and bonds and savings accounts and IRAs. When we can’t provide these things – or find that what we’re most passionate about in life just doesn’t provide these things – then that fear grows stronger, even paralyzing at times.

I believe that fear is irrational.

See how cute he is??

All my life I was afraid of spiders. Everyone I knew was afraid of them too, from my friends at school to my own parents. Having arachnophobia just seemed so normal, I never questioned it. Then one day, as I was taking a nap on the back porch, I felt something crawling up my arm. I looked down to see a hairy little wolf spider. I wanted to freak out. I mean, I was supposed to freak out, right? The only thing was, I had fallen asleep with my laptop in my lap and any sudden movement would have sent it sailing. So, I sat for a second, just me and the spider. He stopped. I stared. He was so small and well, kind of cute, and even if he had teeth, it wasn’t likely that he was going to chew me up like a wolverine. In that moment, I realized, there was no logical reason for me to be afraid. I didn’t have to do what everyone else did. And who knows, I might even like spiders (or at least some of them).

The same thing happened for me with money. All my life I subscribed to the same fears as my friends and family. I fought viciously to keep up. I racked up student loans to pay for a degree I’ve never used. I took out a zero-down mortgage because “successful people don’t waste their money on rent”. Never mind that part of it was on a 5-year ARM. I bought stuff. I had debt. But I was living the dream, according to those same friends and family. Until I wasn’t. When the economy collapsed, I lost my home. In the months that followed, I liquidated my savings, sold what I could of my possessions to cover my debts, and still ended up filing bankruptcy. Was it something I wanted to do? Absolutely not. Was it the worst thing that ever happened to me? Not even close.

If you’ve never filed bankruptcy, you may not know this, but the first things that you start to get – almost the minute that you leave the courthouse – are credit card offers. It seems counter-intuitive, but it actually happens. Next come the car loan solicitations. From the minute you are free of debt, someone is trying to put you back in it; because this is the way our society works. You are a financial failure if you don’t get back up on the debt pony.

I don’t consider myself a financial failure. I was just unsuccessful at living the American Dream. Why? Because it was never mine in the first place. When I lost everything I owned, a great thing happened. For the first time in my life, my so-called friends and family stopped telling me what to do (most stopped talking to me altogether, at least for a while) and I was left to figure things out on my own – in my own time, in my own way.

I paid off my last post-bankruptcy debt in 2009, while I was living with friends and driving a beat-up Jeep to a job 45 miles away making $11 an hour. I won’t lie and say that it was easy or that I was happy. Happiness didn’t come until much later. What I was back then was focused, but not on the things you might think. I wasn’t focused on rebuilding my credit score or getting back the lifestyle I was “accustomed” to. I was focused on figuring out what really mattered to me.

Bankruptcy didn’t teach me the value of money. It didn’t make me want to earn back all that I had lost and hold onto it for dear life. It taught me that money doesn’t matter much at all in the end. With or without it, I was still the same person, but without it, the world held so much more potential. I didn’t have to live by “the rules” and be afraid of financial failure anymore. I had already failed, but more importantly, I had survived.

It’s a decade later and I believe I have a pretty good handle on what matters most in my life, but my financial recovery has put me right back in the same position with my friends and family that I was before bankruptcy. I get a lot of unsolicited advice and there are some close family members who still give me grief about not owning a home (though I can successfully argue the merits of renting); not getting an advanced degree (In what? Student loans?); and not having a “meaningful” career (which actually means “lucrative” because I’m pretty sure helping non-profits find funding for programs that keep homeless youth off the streets and hungry seniors fed is pretty meaningful). Though I know better, the constant bombardment of other people’s opinions can wear on me and I start to think, maybe I’m not doing the right things. Maybe I do need to buy a house. Maybe I do need to work harder to save more for retirement. Maybe I’m not measuring up to where I should be by this age.

Then I remember: I’m no longer afraid of spiders.

How have your financial failures (or successes) shaped your life to this point? Do your friends and family offer you well-meaning but unwanted financial advice? If so, how do you handle it?

Advertisements

3 thoughts on “The Fear of Failure…and Spiders

  1. That’s a cool place to be in! I’ve tried to do “The American Dream”, and was unsuccessful too. (Filed bankruptcy) I was shocked at all the credit card, and car offers!! I just proved I couldn’t handle my debts! Feels so much better to not want to drive the latest car, have the latest clothes, and furniture!! And renting seems like a better option, at this stage in our lives. (My husband is 66, and I’m 57.)

    Liked by 1 person

    1. I’ve decided that I never want to learn to handle debts. May they always be scary things to be avoided 😊

      On the topic of rent, my mom is 69 and a huge advocate for owning a home over renting. I firmly disagree. She says we’ll change our mind one day. Maybe we will, but most likely we won’t. Yes, her house is paid for and she has a “secure” place to live in her retirement, but we watch her agonize all the time, since retiring, over paying the taxes, the insurance, the various maintenance contracts (pest, HVAC, etc.), and having the money to afford repairs and upkeep. I know our rent seems high to her, but it buys us something far more valuable – peace of mind!

      Liked by 1 person

Let us know what you think...

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.