Real Stories Episode 11: Monte – Building a Money Mindset

  • December 2, 2020
  • By: Beth Luke

Hearing real stories about how people form their “money mindset” can be helpful.

Today’s story features Monte. Monte’s childhood had a profound impact on how he approaches money. While he regrets some of his decisions and habits around money, he also makes it a point to learn from his past—like the time he borrowed money to buy a Walkman and was sued after he couldn’t pay the bill.

Monte’s money mindset has had some ups and downs. The money spent on his recent wedding set him back financially, but he has no regrets there. For Monte, he finds joy in living life to the fullest and that means spending with intention when it comes to experiences.

Monte openly talks about what it’s like to live with a mental illness and how his condition often leads to compulsive spending. Our interview took place several days before he closed on his first home, so we’ll hear the mixture of anxiety and excitement he’s feeling.

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Music by Hir-o.

Time markers
1:57 Monte discusses the influence his family had on his approach to money.

4:26 He shares how he thought he was destined for stardom.

6:59 Monte chooses between paying rent to his dad and attending college.

9:36 He applies for his first credit card… and eventually gets sued when he does not pay it back.

21:59 Monte explains what led him back to college in his late 20s.

27:48 He starts making more money than he ever thought possible.

33:25 Monte shares what’s like to live with Bipolar 1 and how this affects his relationship with money.

38:22 He explains his experience receiving financial counseling from GreenPath.

39:40 He has an “extravagant” wedding and incurs new debt but has zero regrets.

46:31 Monte discusses the different life experiences that have informed his outlook on money compared to his spouse.

51:08 He shares his feelings buying his first home in three days.

1:01:48 Monte talks about his future financial goals.

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