summit-bracket2 bracket2 atm-outline location-pin-outline location-pin-filled atm-filled calendar2 bracket google-play[2] app-store summit-location-pin-lg code lock user worksheets phone print programs open pdf checkmark-form close-x close download checkmark-chart checklists blog-tools social-facebook social-google-plus social-pinterest social-twitter social-youtube ehl calendar calculators bracket22 checkmark email text-area-corner external-link success error information warning calendar-add-event auto-rates mortgage-rates home-equity new-certificates ncua summit-logo-itmoi arrow-left arrow-right checkmark2 summit-logo-white summit-bracket silhouette arrow-down arrow-up auto-rates2 blog calculators2 call ehl2 home-equity2 itmoi locate mortgage-rates2 new-certificates2 programs2 search summit-location-pin-sm tools clock
who Will win $10,000?
Join our participants as they reduce debt and increase savings with the help of Summit financial coaches.

Moriah and Terrance's Journey:

Lesson Learned

Hello project Money Family! This is Terrance writing on behalf of my family today. This week I learned a valuable lesson in spending mentality that I thought I'd share.

So on Monday we discovered that our washer was not spinning. Pretty much, at least to my eyes, it was broken. So what I do? I start looking for an upgrade!! Honestly, I can't wait for things to break. Because I love buying new shiny things. Especially tech and appliances. I once bought a new TV when I thought my other 2 year old TV was broken..........the master switch was turned off. Hey! But now we have a guest room TV! Anyway, Moriah and I both took to the internet, but for different reasons. Me, I'm looking for good deals on new washers. But Moriah is on websites and YouTube diagnosing the problem and looking for a fix. My solution would cost at least $400 with no interest for 6 months, hers $4.93 and a little elbow grease. The result? Well, let's just say that that washer spins and we didn't create any new debt.

The lesson I learned here is that it's not just spending habits that we need to manage, it's also one’s spending mentality that needs adjusting at times. Don't get me wrong, I will always WANT new and shiny. But I certainly don't NEED to jump to that solution every time the opportunity seems to present itself.

By the way, we are celebrating our 4th wedding anniversary this week, so I'd like to give my wife this present in front of all of you.

Moriah, you were right. :)


Add new comment