Trump recently announced his VP pick, JD Vance. You may be familiar with Vance’s background and upbringing. After all, he shared his story in “Hillbilly Elegy,” a memoir about his past that made Vance rich and gained him a great deal of attention.
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In short, Vance shared in the book about his impoverished upbringing and life path that led him to be worth millions of dollars today. Along the way, Vance said he learned valuable lessons about life and finances.
Here’s a look at five financial life lessons from Vance based on the stories and information he shared in the book.
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Your Beginning Doesn’t Determine Your Outcome
This is perhaps the most significant lesson Vance shares in his book: Your beginnings don’t dictate where you’ll go in life.
While that’s true in many areas of life, it certainly applies to finances. In Vance’s case, he talked about coming from a rough start to creating a small fortune and a much better life for himself.
By finding creative ways to make money and not settling for where he started, Vance has found financial success for himself and his family.
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Supporters Can Change Your Life
Vance may be a wonderful example of the importance of having supporters and cheerleaders in life. For Vance, according to his book, life took a vastly different direction thanks to his grandmother.
According to Forbes, “Life changed when Vance moved in with his grandmother as a sophomore. (His grandfather had died a few years earlier.) He got a part-time job as a cashier, and his grades improved.”
Creativity Can Save the Day
Once his grades started to improve, Vance said he thought about going to college. But he wasn’t convinced, especially given the costs, that college was the right choice for him.
So Vance got creative and took a different back — enlisting in the Marines. According to Forbes, “He served in Iraq and used extra money he won from playing online poker to pay for his grandmother’s health insurance.”
Discipline Can Bring Success
“Vance, 39, is the first post-9/11 veteran to find a spot on a major party ticket and the first veteran on a major party ticket since John McCain in 2008,” according to USA Today.
Vance has talked about the difference being in the Marines played in his life. Along with the typical discipline you learn in the service, Vance said the Marine Corps taught him to live like an adult and learn to save money, balance a checkbook and invest.
Even if you’re not into taking a strict approach to your finances, even a bit of discipline can make a big difference. Perhaps, like Vance, learning to save or invest could be a good choice when it comes to your own finances.
A Straight Path Isn’t Necessary
Here’s a final financial life lesson to take away from Vance’s story: You don’t need to take a straight path to find success.
Vance has taken many twists and turns that led him to where he is today. He eventually went to law school, used financial aid, worked to fight the opioid epidemic, focused on startups and took on a political career that has led him to be the VP pick.
Perhaps your finances aren’t where you want them to be today. As Vance’s story shows, it’s not too late to head on a different path to find your own success.
Editor’s note on election coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
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