Engaging with money regularly can be tricky, even for those who are well-versed in the nuances of personal finance, let alone those who grew up in poverty. For NBC News and MSNBC correspondent Steven Romo, the money trauma from climbing out of childhood poverty stayed with him. "[My parents] did not hide their money problems from my siblings and me," he explained to Living Not So Fabulously hosts David & John Auten-Schneider. "We had foreclosed on two homes. We got kicked out of rental homes. And we were always very aware of what was happening like that we couldn’t afford this."
As Romo climbed out of poverty, he developed new money skills — with immense help from his husband, he added — and held on to a rule of thumb: "Sometimes life is short, but sometimes it’s not," he said, explaining why it’s important to prioritize financial decisions. Otherwise, "you’re going to look back at your 28-year-old self and be pretty upset about the decisions you made."
He added that the queer community, in particular, struggles with overconsumption as a way to feel secure. "So many of us have to suppress who we are, and we don’t get to live these lives where we’re our authentic selves fully," he said. "So once we come out and start having friend groups, we may go too far. Maybe we’re putting trips on credit cards and not fully planning it out." Watch on our website or listen on your favorite podcast platform for full episodes of Living Not So Fabulously. Yahoo Finance’s Living Not So Fabulously is created and produced by Rachael Lewis-Krisky.
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