Federico Viticci:

I was never good at managing my expenses.
It’s not that I didn’t believe in the usefulness of logging how my money was spent – I just used to be lazy and disorganized.

My wife studies food science and will finish her dietary designation in about a year. I work at an accounting firm and aim to have my designation a few years down the road. As it turns out, my wife and I are both entering fields where everyone knows better than we do.

Money and food are extremely personal topics; they are near and dear to everyone’s hearts and to everyone’s livelihood. Everyone knows how to eat better than the next person and everyone understands finances better than the next person. So, despite our (my wife and I) countless hours of study and dedication to these fields, most people know better than we do.

Developing software applications, building a home or engineering a skyscraper are examples of skills people will readily admit they don’t possess. There are thousands of skills that take time to hone and perfect and, generally, we honour those people who dedicate their lives to being an expert in a field. Food and money are no different. Studying food and how our bodies react to the substances we put in them is a deep and evolving science that takes years (lifetimes, even) to truly understand. And, if money was so easy to learn, why is consumer debt at an all-time high?

I really appreciate Federico flat out admitting that he was poor at managing his finances. It takes guts to admit sunk costs and lessons learned. It takes courage to track your spending and determine your own personal trends and habits.

Thanks Federico for being honest. I appreciate that.