Category: Savings & Money Management

One of the most inspiring financial stories isn’t about lottery winners or trust fund babies—it’s about ordinary people doing extraordinary things with discipline and focus. One story that stands out is that of Sherelle Derico, a single mom who’s steadily building her way to financial independence on a modest income.

Despite never earning more than $55,000 a year, Sherelle is well on her way to becoming a millionaire. Her story reminds us that saving money isn’t about how much you make—it’s about how committed you are to keeping it.

A Real Example: How Sherelle Did It

Sherelle Derico, now a senior consultant at Booz Allen Hamilton, turned her life around after hitting a low point with debt. Here’s a glimpse into her financial transformation:

“I found myself in lots of debt. That’s when I started to save a lot of money,” she said in an interview.

Over time, Sherelle:

• Paid off $25,000 in student loans, credit cards, and personal debt
• Funded most of her master’s degree with cash and employer matching plans
• Began receiving $700/month in child support (only five years ago)
• Saves 20% of her income into her 401(k) and IRA
• Treats saving like a non-negotiable monthly bill

Currently, she has:

• $95,000 in her TIAA-CREF retirement account
• $36,000 in her Booz Allen 401(k)
• $8,000 in regular savings

That’s over $130,000 saved—by someone earning an average income and raising a child on her own.

What’s the Real Secret?

It’s not about budgeting apps, flashy investment tips, or waiting for your next raise.

It’s this: Sherelle treats saving as seriously as paying the mortgage.

She’s adamant. She doesn’t wait for the “perfect moment” or for more money to magically appear. She prioritizes saving now—and that discipline creates freedom later.

The habit of saving money starts the moment you realize:
If you don’t pay yourself first, you’ll always be paying for everything else—forever.

Saving Must Become a Priority—Not an Afterthought

Think about how you treat your biggest bills—your rent, your mortgage, your car payment. You never miss those, right?

But what about your future self?

If you find yourself saying things like:

• “I’ll start saving after my next vacation.”
• “I’ll wait until I get a raise.”
• “There’s just not enough left over to save.”

…then it’s time to flip your thinking.

Start saving before you buy the big-screen TV. Before the weekend getaway. Before upgrading your phone. None of those things are bad—but they should come after you’ve paid yourself.

Start Small, Build Big

Saving doesn’t have to start with a massive overhaul. Like most things in life, it’s about small wins that build momentum.

I know someone who recently decided to get serious about saving. In less than two months, they managed to put away $4,000. Now, they can clearly see $5,000. Then $10,000. And beyond.

Where could you be in five years if you started today?

Ask Yourself the Hard Question

Here’s a gut check:
What if you had to save $10,000 this year to save your spouse’s life?

No loans. No credit cards. Just saving. Could you do it?

You already know the answer: Yes, you’d find a way.

That level of urgency—that emotional commitment—is what separates people who talk about financial freedom from those who achieve it. Sherelle Derico had it. So do others who have made saving a lifelong habit.

Do You Really Want It?

A lot of people say they want to be financially free. But when it comes to doing the work—sacrificing today for tomorrow—many fall short.

So here’s the real question:

Are you just going through the motions, or are you emotionally committed to improving your financial life?

It comes down to choice. Every dollar has a destination—you just have to decide if that destination is your future or someone else’s profit.

Final Thought

No matter where you are today—deep in debt, paycheck-to-paycheck, or already on the path—you start with one small win. Then another. Then another.

That’s how momentum builds. That’s how mindsets shift. That’s how financial independence becomes a reality.

So pay yourself first. Save like it’s your most important bill. Because one day, it will be the difference that changes your life.

One of the most influential investors of the 20th century, John Marks Templeton, once said, “The four most dangerous words in investing are: ‘This time it’s different.’” It’s a quote that’s stood the test of time because it speaks to a fundamental truth about money—there are no shortcuts, no exceptions, no magical exceptions to timeless principles.

If you’re reading this blog—whether it’s your first time or part of your regular financial routine—then chances are you’re seeking something bigger: financial independence, peace of mind, and freedom from paycheck-to-paycheck living. And I’ll be honest with you—that’s a fantastic goal. Because life is simply better when you’re not constantly worried about money.

But if you’re serious about achieving financial freedom, there’s one principle you need to internalize early and never forget:

Save money—and always pay yourself first.

Why Saving Money Still Matters (and Always Will)

In today’s fast-paced, buy-now-pay-later culture, saving can feel outdated. Many people prioritize instant gratification—another pair of shoes, the weekend getaway, a phone upgrade—without giving much thought to their long-term financial stability. But here’s the truth: without consistent saving and investment, you will never achieve true financial freedom.

This has been true for generations. A hundred years ago, building wealth meant saving first. A hundred years from now, it will still mean the same. Financial independence doesn’t come from wishful thinking or windfalls. It comes from the steady, disciplined habit of setting aside money—for emergencies, for growth, and for your future self.

Saving gives you options. It gives you control. It allows you to respond to unexpected events without panic. And most importantly, it lets you stop working for money and start letting money work for you.

What Does “Pay Yourself First” Really Mean?

When most people get paid, the money flows outward—to bills, credit cards, restaurants, rent, subscriptions, and shopping. By the time the dust settles, there’s often nothing left. That’s living in reverse.

“Paying yourself first” flips that around.

It means before you pay Visa, MasterCard, your landlord, or your favorite coffee shop, you put money aside for yourself. That means savings, investments, retirement accounts, emergency funds—whatever helps build your future financial self.

And yes, you can afford to do it. It’s not about how much you make—it’s about how much you prioritize your future.

If You Don’t Save, You’ll Stay Broke

That may sound harsh, but it’s real. If you’re not saving, it’s either because:

• You believe you can’t.
• Or you haven’t made it a priority.

Neither of those beliefs will build you the life you want.

You might think, “I can’t save right now—everything’s so expensive.” And while that might be true today, it will still be true a year from now unless something changes. Your income might increase. Or it might not. But your ability to make smarter money choices? That’s something you control starting today.

The stress that comes from living paycheck to paycheck, from having no safety net—that doesn’t go away on its own. It fades when you build savings, when you know you’ve got something set aside for whatever life throws at you.

Getting Started: How to Build Your Saving Habit

If you’re ready to change your relationship with money, here are a few ideas to help you start saving intentionally:

• 1. Trim where you can.
  Can you cut your subscription count in half? Switch to store-brand groceries? Delay that next Amazon order? Look for simple swaps that don’t feel like deprivation, but create space to start saving.
• 2. Save automatically.
  If your employer offers a 401(k), get enrolled. If you don’t have access, look into an IRA or Roth IRA. Automate a transfer from your checking to savings every payday—even if it’s just $25. What matters most is building the habit.
• 3. Explore side income.
  If your budget truly leaves you no breathing room, consider adding income through a small side hustle. It doesn’t need to be big or fancy. Deliver food on weekends. Sell something you make. Help someone with tasks you’re good at. Earning an extra $200 a month can make a massive difference if it’s saved consistently.
• 4. Reframe how you see money.
  Ask yourself, “What can I build with this money?” instead of “What can I buy with it?” Rethinking your purchases through a long-term lens transforms your spending habits over time.
• 5. Learn from those who’ve done it.
  Check out resources like Chris Guillebeau’s unconventional guides. He shares ideas for small businesses and side projects that help people break out of traditional employment or limited income paths. You don’t need to quit your job—you just need to start thinking differently.

Your Future Self Is Counting on You

Look, we all want a better financial life. But wanting isn’t enough. What matters is what you’re willing to do about it—today, not tomorrow.

The simple truth is: saving gets easier the earlier you start. The longer you wait, the harder it becomes. And the more life throws at you, the more you’ll wish you had made the effort.

The bottom line? You’re worth it.

Your future is worth preparing for. Your peace of mind is worth protecting. And your dreams? They’re worth investing in—literally.

So, start now. Not next year. Not when you get a raise. Not when things “settle down.” Start today, even if it’s just $10. Build the muscle. Build the mindset. Build the habit.

And remember this:

“The whole of life, from the moment you are born to the moment you die, is a process of learning.”
— Jiddu Krishnamurti

Learning how to save—and making it part of your life—is one of the most powerful lessons you’ll ever master.