We all want more money, but we all also HATE hearing (reading) about how important it is to budget. The same tired messages of ‘pay yourself first’ and ‘save for a rainy day’ are downright maddening. Ugh. The truth is, saving can be hard. I mean honestly, how on earth am I really supposed to take care of my living expenses, pay for my adult responsibilities (here’s looking at … [Read more...]
Money Monday: 3 Baby Steps that Will Actually Help You Save Money Starting Today
You could possess all the financial knowledge in the world but still find yourself broke. That's because knowledge is useless until you put it into action. Unfortunately, this is exactly where many of us fail. We know exactly what we should be doing, but we just don't ever get around to doing it. We've too often become so accustomed to our financial circumstances that we … [Read more...]
Money Monday: How to Spend on Your Happiness and Save for a Successful Future
Jim Cramer is perhaps one of the best known financial gurus on television. As host of Mad Money, he has counseled millions on how to get the most out of the stock market. Yet, even this television star and millionaire understands that if you want to build a financial fortress, you can’t have it all, all the time. Cramer admits that he spends lavishly on just two indulgences … [Read more...]
Money Monday: These 5 Numbers Are the Secret to Taking Control of Your Finances
With the New Year just around the corner, many of us will vow to make 2016 the year we finally get our finances in order. But in order to be successful, experts agree that we must first understand a few basic numbers. Knowing these figures will help us make the right decisions for a financially fit future. Debt is the cancer that consumes your financial well being from the … [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...]
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...]
A Grown Woman’s Guide To Making and Keeping A Budget That Works
I am really going to be honest with you and it may sound shameful….but I don’t keep a budget (bad personal finance coach, bad personal finance coach), well, at least not in the conventional sense with spreadsheets and graphs. But, you better believe, a sister named Kara I. Stevens makes her monthly savings goal every month. Every. Single. Month. Let me tell you … [Read more...]
5 Reasons Why God Wants You to be Wealthy
The Bible can be a little confusing when it comes to “being wealthy." It states in Ecclesiastes that the love of money is the root of all evil; but then it also says in Ecclesiastes, “money solves everything." Well God, which one is it? Both are absolutely 100% truth. When you fall in love with money, it will both own you and destroy you. At the same time, however, money … [Read more...]
Back To School Tips to Prepare Your Mind and Your Wallet!
Well, it’s that time of year again. The summer’s over. School is here. If your family is anything like mine, the kids are not looking forward to it. I mean, the summer has been one fun, friend-filled week after another. But now it’s time to go back to school. To help you make a successful transition from summer’s lazy days to school’s crazy classes, here are a few … [Read more...]
Money Monday: How Compound Interest Can Make You Rich or Poor
It’s been called one of the greatest forces in the universe. Understand it and you’ll see why some people invest their way to wealth, while others quickly become stuck in a quagmire of debt. This simple but powerful force is compound interest. Let’s see how it works and why it can profoundly affect your financial life. Let’s say you possess $1000 to invest and that you earn … [Read more...]
Money Monday: How Baby Steps Can Help You Master Your Finances
Sometimes we create grand New Year’s plans for our financial future. We vow that this year we will pay off our credit card debt, start setting money aside for retirement, or finally build that all important emergency fund. But in the face of bold plans, it’s easy to run out of steam and settle back into old habits. Creating change can be tough, but often the answer is as … [Read more...]
8 Ways that Black Women Can Improve Their Relationship with Money this Weekend
Growing up in a household led by a single-mother who immigrated from the Caribbean and was partly responsible for supporting some of her siblings make their way to the United States, I saw firsthand how her role as chief financial leader (CFL) and head emotional caretaker (HEC) left my mother emotionally burnt out, overwhelmed, and financially depleted. I think part of the … [Read more...]
How to Identify 5 Streams of Savings; Right Now
A few weeks ago, I took part in chat on Twitter about making #bossmoves at work and as entrepreneurs. One of the key nuggets that was dropped was that entrepreneurs usually have at least 5 streams of income going for them. This was something that I knew and something that I practice. I am up to four now: my current job, various freelance writing/blogging gigs, a part-time … [Read more...]
Money Monday: For Financial Sanity It Pays To Test Drive Your Payments
It's heartbreaking to watch families lose their homes. The recession and jobs crisis shattered the "American Dream" for many. And let's not forget about the unscrupulous mortgage brokers who duped many unsuspecting home buyers. But many families simply bought more home than they could reasonably afford. It's easy to understand why. We all overestimate how much money we … [Read more...]
Money Monday: Keys to Retiring Wealthy, Even on a Meager Salary
In the Deep South, Oseola McCarty spent her working years as a washerwoman. To say she earned a meager income washing and ironing clothes for the local residents would be an understatement. But Ms. McCarty amassed enough wealth to donate $150,000 to the University of Southern Mississippi, establishing a scholarship fund for deserving students. Earl Crawley works as a … [Read more...]