Hello! Welcome to the Blue Pants Budget. Our personal finance journey and advice blog all wrapped into one.
My husband and I decided to start this blog to share our experiences, mistakes, and achievements with personal finance. We’ve made tons of financial mistakes once we entered adulthood and have had to learn the hard way about the right way to be smart with money.
Since I’m sure we weren’t alone in our naiveté regarding personal finance, were here to help other millennials learn as much as they can about saving money, budgeting and getting out of debt. We want to provide the knowledge that we wish we had back then.
Without all the jargon.
We’re just a husband and wife duo with a determination to get out of debt and find financial freedom. We understand how tough things can be. That’s why we want to share any tools and advice that can help others with that same goal and determination.
HerStory (Co-founder of The Blue Pants Budget)
My name is Naasira, and the idea behind The Blue Pants Budget came from my late grandfather. He was born in the early 1920s and always had a lot of wisdom, financial and otherwise, to share. One of his defining attributes was the dark, navy blue pants he always wore. He had to have a closet full of them because we never saw him in anything else except when a suit was necessary.
My papa didn’t see the reason behind spending a lot of money on clothing. He was more so concerned with saving and being financially comfortable.
I remember him assigning me book-reports on money management. He would give me books such as “The Richest Man in Babylon” when I was as young as 10 or 11.
I didn’t understand why I had to read those books at that point in time, but now I appreciate his efforts.
He passed away when I was 16, so I didn’t get the opportunity to see first hand how his teachings would apply.
I got my first job at 17 years old. At that point, all those teachings of saving were far in the back of my mind. Finally having my own money started to burn holes in my pockets. I would save just enough to buy what I wanted and then start all over from zero.
A couple of years after that, I enrolled into university. I didn’t have all of my costs covered, so I decided to take out student loans. At the tender age of 18, I didn’t understand the entire concept behind loans. I knew they would have to be repaid. But I guess I didn’t understand how much I was taking on, and I definitely didn’t understand the interest.
If my grandfather was around, I’m sure he would have warned me of the dangerous territory I was getting ready to enter.
Four and half years later, I graduated with my degree in communications and journalism. With expectations of a big city career, a good salary, and a high rise apartment. The reality was no job, no salary and tens of thousands of dollars worth of student debt.
The fire finally sparked, once I received my first 1098-E from my student loan provider. I had been paying the minimums on my student loans all year and out of the $2000 I paid, less than a $100 actually touched the principle. That moment scarred me for life. After seeing how tricky all this money, saving, budgeting and debt stuff could be I was determined to figure it out.
HisStory (Co-Founder of The Blue Pants Budget)
Hi, I’m Andreaus the husband behind TBPB. Coming from a working-class family, everything I knew about money I had to teach myself. I got interested in personal finance after making a ton of money mistakes. I can laugh off some of these mistakes now, but it sure wasn’t funny back then.
In college, I spent almost all the money I earned from a summer internship buying a used car. The rest of the money went towards repairing it.
Having never gone through the car buying process before, I paid twice the Kelly Blue Book value. I held on as long as I could, but when I couldn’t afford to patch it up anymore, I sold it as spare parts.
After graduation, I bought a brand-new car that depreciated in value as soon as I drove it off the lot. Then, six months later, I had to start paying back all my student loans.
After realizing we were over $70,000 in debt, I knew we had to get our finances in order.
We have since managed to pay off $30,000 worth of debt in a year! Create an extensive emergency fund. Pay for Naasira’s second college degree out of pocket and pad Andreaus’ retirement. Now we’re working on creating multiple streams of income and learning new ways to invest. Naasira is also pursuing a degree in accounting and hopes to earn her CPA license sometime in the next year or two.