Jerry's Story: From Broke to "Financially Woke"

Meet Jerry: The past few years of Jerry’s life have been a huge financial journey. He started, as he explains on his blog Peerless Money Mentor, as “an active member of Broke Phi Broke” – an exclusive organization reserved for those who have made every possible financial mistake.

But now Jerry is proud to be “financially woke” instead – and eager to share his hard-earned wisdom with others who are struggling to make better decisions with their money. Part of this journey has been learning the importance of saving.

With the help of SaverLife, Jerry has rebuilt his emergency fund and is now able to take advantage of new career opportunities in a way that he wasn’t in the past.

Jerry is open about the decisions that led him to hit “financial rock bottom” a few years ago even while working full-time at a library in his hometown of Baton Rouge, Louisiana. When Jerry needed to buy a car, he went to the dealership intending to buy a used car, but he drove off the lot in a new car after an aggressive saleswoman convinced him he could afford more. He also cosigned a loan for his ex-fiancée and let his credit card debt accumulate after an unexpected medical emergency. On top of this, Jerry’s still paying off student debt.

 When Jerry learned about SaverLife on the blog Rockstar Finance, he had already started trying to reverse his financial fates. He was working to live below his means and pay down his debt.

SaverLife helped Jerry “get in the habit of saving and not living beyond my means.” To meet his goals faster, Jerry’s started picking up “side hustles,” including driving for ride-sharing companies and other on-demand apps where he can pick up extra income.

Jerry says that since he’s joined SaverLife, a lot of things in his life have improved. “I’m no longer living paycheck to paycheck,” he says. “I don’t have to be embarrassed about going out with my friends and not being able to pay for it.” He’s even opened a Roth account so he can save for retirement and invest his savings.

For Jerry, the bigger picture is that savings will allow him to take advantage of career opportunities and be more confident. In the past, he had to turn down job offers in other states because he couldn’t afford to move. Now he knows that he has enough saved to take the leap and make smart risks for his future.

“SaverLife is an awesome program,” Jerry tells his friends. “If you haven’t built up savings or you live paycheck to paycheck, it’s a good way to get your foot in the water. Start small, then you’ll be able to save more and reach your goals faster.”