Spend less than you earn. Save, invest, or pay off debt with what's left over. This may be the most crucial concept in the universe of personal finance. It’s deceptively simple, but oh so difficult to master. Part of the reason is that it’s extremely difficult to control spending. Let’s face it, most of have absolutely no clue as to where our money goes. We can’t recall … [Read more...]
Search Results for: finance
Just Because You Can, Doesn’t Mean You Should Have Kids
There's a standard life cycle most of us learn to follow. Go to school - graduate - get a job - get married - have children - struggle - triumph - die. But just because it's taught to us doesn't mean it's for us. Some people are simply not meant to have kids. And there's nothing wrong with that. Parenthood is not a road easily traveled. Ask any single parent you know. … [Read more...]
The 4 Biggest Arguments that Are Tearing Your Marriage Apart…Whether You Know It or Not
You know I used to think I was crazy for thinking that, as couples, if we would just communicate more, we would argue less and love each other more. The more I coach, I realize that many couples have the same arguments and disagreements over and over again. Yet the very same communication that could solve these issues is often met with defensiveness, blame, and just more … [Read more...]
Debunking the Myth: Get All Your Ducks in a Row Before Settling Down
I’m not going to put this squarely on the shoulder of the men. But I see this error more in men than women. It’s that…people think that they need to have all their ducks in a row, like they need to be perfect, having accomplished all their goals on their own…before they are ready for to settle down and enter into a serious relationship I’ve talked to several men in the last … [Read more...]
4 Ways for Black Women to Keep Family Members Out of Their Pockets
One of the unspoken reasons that black women can’t save is because we have unofficially been identified as the family ATM. With all too many of us embracing the “Superwoman to All But Herself” role in many a circle, we are judged by our ability to please others quickly, please others often, and please others sacrificially. We take Mama Maya’s “be the rainbow in somebody … [Read more...]
2 Remarkable Ways Being a Proverbs 31 Woman is Bound to Impact Your Man
Many Christian women, before they get married, often pray about becoming like the Proverbs 31 woman. This is a high calling that they strive, and may even vow to be, for their one special man. Some of the amazing qualities of this Biblically divine woman include: Her steadfast faith in God. Her unconditional relationship with her Husband. Her wise counsel and mothering … [Read more...]
Is Their Marriage Doomed If a Woman Goes Half On Her Engagement Ring?
One of my coworkers ran up to me one Monday morning to share some good news. She told me one of her friends got engaged over the weekend. She even showed me a picture of the engagement ring. I thought it was beautiful. Since I didn’t know the friend, I didn’t have much more to say. As I was about to return to my computer screen, my friend shared some more information. My … [Read more...]
Money Monday: How A High School Teacher Became A Millionaire Before Age 38
The Book: Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned In School The Big Idea: You can beat the financial pros and become wealthy by simply investing in low risk, low cost index funds. The Author: Andrew Hallam worked as a high school teacher but didn’t let his teacher’s salary hamper his dreams of attaining wealth. By controlling his spending … [Read more...]
Money Monday: 3 Ways African-Americans are Making Huge Financial Strides that Mainstream Media Won’t Share with You
Despite the never-ending onslaught of headlines bemoaning the dismal financial state of Black America, all is not as bad as we’re led to believe. In fact, in many areas, African-Americans are making huge financial strides. Here are three pieces of good news to provide you with relief from the usual stories of financial gloom and doom. We’ve caught the entrepreneurial … [Read more...]
4 Ways to Save Yourself From Nickel and Diming Your Way Into the Poorhouse
One of the interesting things that I see as a personal finance coach supporting black women trying to regain control of their finances is that these women are in debt or have bad credit. It's not that they are poorly compensated and, as a result, have to resort to charging basic necessities on their credit cards. Rather, it is because they have money management issues. They … [Read more...]
3 Easy & Effective Tips to Reduce Conflict in Your Marriage
Last year, my husband and I went on a marriage cruise (kid-free). Not only was it the first time we'd ever been on a cruise but it was the first time we were away from home for so long to focus solely on our marriage. And, as the new BMWK Marriage Cruise is underway, I wanted to reflect on one of the most powerful sessions we experienced during the cruise. One of the biggest … [Read more...]
Have Debt? Have No Savings? Make These 4 Breakthrough Money Moves to Easily Live Below Your Means
I was speaking to a girlfriend that was looking for advice on how to manage her finances better. She was proud to share that she had no debt, but when it came to savings, she had none of that either. Living Beyond Your Means I know for some, this is a hard concept to grasp. We usually hear of people living in debt and with no savings. It seems like it’s one problem. However, … [Read more...]
Money Monday: The One Key Habit of the Wealthy That Will Prepare You For a Lifetime of Success
Reading is the secret sauce to success. It’s hard to obtain financial freedom or career excellence without it. Billionaire Mark Cuban, in his book How to Win at the Sport of Business, credits much of his success to reading: I read every book and magazine I could. Heck, three bucks for a magazine, twenty bucks for a book. One good idea would lead to a customer or a solution, … [Read more...]
Men: These 3 Moldable Character Traits Will Help You Effectively Change Your Life and Lead Your Home
Men sometimes struggle with leadership in the home because of all of the complexities of a household. Things ranging from blended families, to finances, to career decisions are among the complex issues that need an insightful committee chair and responsible decision maker. As a coach, I study what good leaders in business bring to the table, because I think it translates … [Read more...]
Money Monday: The Four Money Lessons I Absolutely Must Teach My Children
Growing up, conversations around the dinner table never involved financial matters. There were no debates about the best ways to save money or discussions on how to identify the best stocks for long term success. School was no better. Somehow, amidst the countless hours of calculus, American history, and English literature, the topic of personal finance was all but … [Read more...]