I’m far from the richest man in Babylon, but I do well enough for my friends and coworkers to occasionally ask how I manage my finances. Money is one of those emotional topics that are uncomfortable to talk about, but I think that avoidance leads to a less financially healthy, equitable society than what we could be. And every time I break down my setup for someone, I make a mental note to write it down so that other people can potentially benefit from it. So here’s that breakdown, spread across a series of posts.

I’m going to state upfront that my experience with money is built on an incredible amount of privilege that I know gave me a head start and wind at my back towards financial success:

The thing I hate most about writing this out is that it ignores the ONE thing I did: I’ve been extremely, profoundly lucky. It feels incredibly arbitrary and unfair that I received these gifts and others didn’t. A friend of mine created a board game that brings this point to life and injects levity to start conversations about how privilege impacts our lives. Check it out for a meaningful, sometimes uncomfortable, but cathartic experience on making sense of chance.

So at best, this is a list of things I did to avoid squandering the luck I received. That said, I know enough people who received similar or higher rolls of the privilege dice and are stressed out about their finances, so maybe this can help others sustain, and maybe if they’re lucky, grow their money.

The very first step before you get started is leveling with yourself about what money is to you and why you want to manage it. For me, money is a resource for supporting my lifestyle; investing it back into my family, friends, and the world; and gaining a net-positive boost to my mental health from my financial assuredness. I believe everyone should be able to feel good about money too. There are complex social and economic systems in place that make it all but impossible for billions of people to even have a fighting chance for money to be an asset rather than a liability. And so I think those that can put money to work should do so in order for them to be in a position where they can give their gifts back to empowering the other half. My goal isn’t to watch a number tick up; it’s to grow a resource to invest back into a world that’s given me more than enough.

Finally, a huge disclaimer that I’m in no way a financial advisor. These are just one internet guy’s mindset, processes, and tools that help him manage his financial life. If you take one thing away, remember that your mind if your most important asset. Don’t just outsource your education about money to someone else, especially me. Let this be one of many perspectives you read, consider, and choose how to integrate into your own life.

So, let’s manage some money.

My mental model is to think of wealth in stages, with each one generally building upon the last (though some of the earlier phases may change in order depending on your situation):

I think it’s helpful to have a roadmap like this to see where I’ve been, where I’m going, and understand what conditions must be met to reach the next milestone. Reddit’s Personal Finance community provides a helpful guide and flowchart that roughly aligns with these stages.

I’m breaking this series into multiple posts covering the phases above, so first up is Phase 1: Financial Awareness.