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Going for Broke... And Back

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Going from financial fiasco to fiscally fit.

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Editor's Note: Minyanville welcomes Jessie Smith, who will share her journey from deep debt to financial freedom every Tuesday and Thursday in Going for Broke ... and Back.


You like the title? Almost took me longer to think of the name for this blog than it did for me to balance my checkbook. Which still isn't balanced, for the record.

As I sit here in front of my computer, I'm wondering to myself if this isn't all a huge mistake. After all, the thought of pouring out all the trials and tribulations of going from the financial mess I see myself as today to the fiscal goddess I imagine myself to be is enough to make me want to shut off the computer and head back to bed.

Well, what should you know about me? I'm a real person, but I have a fictitious name. I started out in the early 90s with a college degree and a boatload of debt.

I discovered I had a knack for the insurance business, and started to make money. In the heyday of my business, I made a ton of it -- and I spent a ton of it, too. But as cliché as the saying, "Easy come, easy go" might sound, there's more than a grain of truth locked in it. So I experienced the depths of the lowest lows when I was first starting out after college -- and then the exhilaration of financial freedom at the height of my business partnership.

However, when I decided to move to New York City, I was not prepared for the combination of the increased expenses of big city living and the reduction of income that comes with starting over in a new business. It wasn't anything I didn't think I could overcome, given a little time.

The tipping point came when it appeared that my confidence and the economy were tanking in tandem. After a series of unfortunate events in spring of 2009, I found myself hitting rock bottom. I may not be the only one who has been affected by a string of events beyond our control. I may not be the only one who has suffered a reversal of fortune. The time has come for me to say, "ENOUGH!"

This blog is the story of my way back.

I'm tired of the roller coaster ride that money (like any addiction) fuels when you don't act in a fiduciary way with it. I've learned many, many lessons about how money works, and about the consciousness required to make it and keep it. So, now it's time to rebuild my portfolio, my credit score, and my confidence.

I'm also examining what was hidden between my ears to find out how I let all of this happen -- and to make sure it NEVER happens again. Wanna find out how I'm doing it? You can join me on the journey.

So why would you want to spend your valuable time reading this blog anyway? What do we have in common (or maybe not in common)? What do you need to know in order to decide if you can benefit from what I have to share with you, or heaven forbid, add your two cents worth at the bottom?

How can you learn from my experiences so you can enhance your own?
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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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