Mellody Hobson

I felt so accomplished in buying that sofa. I can't tell you what I got from that. I bought it myself. So I worked a few miles away in Chicago. At lunchtime, I would go sit on my sofa because I was so... In the merchandise mart. No, once it got to my house and I was able to buy it in 1996. Oh, wow. It got delivered. There was nothing else in the room.

And I would just visit the sofa during the day from work. I understand that. And I was like, no one can take that away from me. I earned that sofa. Yes. I gave it away at one point. And I was like, that sofa means so much to me. I don't think I want to give it away.

And I would just visit the sofa during the day from work. I understand that. And I was like, no one can take that away from me. I earned that sofa. Yes. I gave it away at one point. And I was like, that sofa means so much to me. I don't think I want to give it away.

And I would just visit the sofa during the day from work. I understand that. And I was like, no one can take that away from me. I earned that sofa. Yes. I gave it away at one point. And I was like, that sofa means so much to me. I don't think I want to give it away.

Because it was, you know, it was not a, it was several thousand dollars. And, you know, it wasn't like that was something you went and did. I mean, I just saved it by a mattress. I remember calling my mom.

Because it was, you know, it was not a, it was several thousand dollars. And, you know, it wasn't like that was something you went and did. I mean, I just saved it by a mattress. I remember calling my mom.

Because it was, you know, it was not a, it was several thousand dollars. And, you know, it wasn't like that was something you went and did. I mean, I just saved it by a mattress. I remember calling my mom.

The mattress was $2,000, and I said to my mother, I cannot afford this. And she was like, the per diem on that mattress is nothing. My mother, who, not book smart, she's like, you're going to own the mattress for a long time, Melody. If you do the daily rate... It's nothing. And that sleep is really important to you.

The mattress was $2,000, and I said to my mother, I cannot afford this. And she was like, the per diem on that mattress is nothing. My mother, who, not book smart, she's like, you're going to own the mattress for a long time, Melody. If you do the daily rate... It's nothing. And that sleep is really important to you.

The mattress was $2,000, and I said to my mother, I cannot afford this. And she was like, the per diem on that mattress is nothing. My mother, who, not book smart, she's like, you're going to own the mattress for a long time, Melody. If you do the daily rate... It's nothing. And that sleep is really important to you.

Ideally, I think it's especially at your age, this is the way I did it. You want to start with a number and every year increase it. And so instead of being absolute, just having the goal that I will do better next year than I did this year, especially in the beginning, when you're starting a life, you've got a lot of stuff to buy. Right. You need knives and pots and pans and towels.

Ideally, I think it's especially at your age, this is the way I did it. You want to start with a number and every year increase it. And so instead of being absolute, just having the goal that I will do better next year than I did this year, especially in the beginning, when you're starting a life, you've got a lot of stuff to buy. Right. You need knives and pots and pans and towels.

Ideally, I think it's especially at your age, this is the way I did it. You want to start with a number and every year increase it. And so instead of being absolute, just having the goal that I will do better next year than I did this year, especially in the beginning, when you're starting a life, you've got a lot of stuff to buy. Right. You need knives and pots and pans and towels.

You've got the first month's rent and the security deposit. Yes. You know, all sorts of things are just real life. So I'm trying to be realistic about that. So if you could do 5%, you know, great. But in your company 401k plan, Give enough to get the match. You might not have a separate savings account outside of that.

You've got the first month's rent and the security deposit. Yes. You know, all sorts of things are just real life. So I'm trying to be realistic about that. So if you could do 5%, you know, great. But in your company 401k plan, Give enough to get the match. You might not have a separate savings account outside of that.

You've got the first month's rent and the security deposit. Yes. You know, all sorts of things are just real life. So I'm trying to be realistic about that. So if you could do 5%, you know, great. But in your company 401k plan, Give enough to get the match. You might not have a separate savings account outside of that.

I really want you to have, though, emergency money because you need three to six months living expenses if something goes wrong. And I've been saying this for years and years and years and years. And then when COVID happened.

I really want you to have, though, emergency money because you need three to six months living expenses if something goes wrong. And I've been saying this for years and years and years and years. And then when COVID happened.

I really want you to have, though, emergency money because you need three to six months living expenses if something goes wrong. And I've been saying this for years and years and years and years. And then when COVID happened.

Like literally people with no income and this idea that those people who had some emergency savings, it made a difference. So first save to have the emergency money, then start putting money in your 401k plan at work. And every year make a commitment that you increase it. Every time I got a raise, I raised the amount I saved.