If I could have a conversation with my younger self, I would have a conversation around finances. Learning to budget money coming in and what’s going out and when.

When finances became challenging I forced myself to create a spreadsheet calendar style, where daily I was aware of what was coming in and from where and what had to be paid out and when. This process helped me feel ware and in control.

I also created ways to save some in a variety of ways. Stashing cash in different places in my home. Saving money in my CashApp or Bank Accounts trying to not let it go below a certain amount to the best of my ability.

I learned to set aside money and act like it didn’t exist, even though I knew it was there.

Most people do the coin jar or bowl, Crown Royal bag…and then cash it in at CoinStar. That has saved me numerous times when struggling in my early days in Vegas.

I highly suggest that you make sure you are first aware: of:

– money coming in and when

– money going out when and where

– do you have enough income to cover what you are contracted to pay out

Hopefully you have plenty of income to cover your expenses.

Next be mindful of necessary expenses and expenses by choice. If you struggle paying your bills, determine where you can eliminate what you pay out.

Where can you cut expenses:

– TV channels

– internet

– eating out

– coffee shops

– driving a car vs taking a bus

– entertainment

– shopping

You get the idea 😉

Many times we may spend money unnecessarily and making purchases just because of a mood, a mindset vs a real need.

Never put yourself in a position of unnecessary financial struggles. Trust me, there are things you can do without

When you get your finances under control and explore building up your credit score. As much as you don’t want to face your financial situation, it’s important to be honest with yourself and then create a plan of action.

When you are in control of what is coming in and going out, the next step is creating ways you build your income that you don’t touch.

Such as:

– Savings

– Investments

– Credit Building

—Credit Cards

For a easy way to explore building your credit with obtaining a credit card, I would recommend you look into Capital One: https://i.capitalone.com/JAFukMXUx

—-Loans

– Invest in a Life Insurance Policy to cover your funeral expenses and leave something for your loved ones.

Educate yourself on how to grow your money.

As I become mindful and in control of my finances, I learned to be responsible and pay my responsibilities on time. I eliminated what was not necessary and I budgeted my extra spending. By being responsible in paying my bills on time, when I was faced with car troubles, I was able to obtain a loan to cover the immediate expenses. From there I was able to gain other financing where I could pay off the first higher interest loan. I guess you could say I learned to manipulate my finances.

I was proud that I was able to get to this point in my life in Vegas. I was determined to not become homeless in Vegas, that was my driving force.

Yes, I financially struggled while my time in Vegas but I made sure I found ways to handle my business. But when my hours were consistently cut at my job, along with the stress at my job…if I had stayed, I could have ended up homeless in Vegas so I made a decision to return home to Seattle.

I did receive financial help from family, friends and co-workers. Without the help to leave Vegas, life would have become the worst that I would have ever experienced. I was so blessed that God placed others to bless me.

Through this challenging time, I was able to maintain all of my financial responsibilities. Luckily, I obtained a job in Seattle before I left Vegas. So 2 weeks after returning home, I was working and working where I am getting paid weekly as a contract to hire employee. So I didn’t miss a beat of having an income.

Now, I’m in a position to start saving a small amount at a time.

The loan I got in Vegas for my car repairs, I almost had it paid off with good standing that I was able refinance it to get additional money to pay for another car repair, and pay for things at home and to stash money for a rainy day and investments.

I own stocks that I established while living in Vegas.

I recommend these easy sites to start investing and learn about investing.

STASH

https://get.stash.com/susan_s8tn80f

ACORN (I will find a link for this site)

Or if you are looking to get a loan to build your credit or pay a bill, I used OPP Loans

https://share.opploans.com/susankoshi

What I recently have done is invested in a Roth IRA. I realize that I am not well prepared for retirement, because of the years being self employed and not paying into social security and not set up with a pension. So I have determined a realistic amount I can afford right now to invest monthly. I will increase once I am hired full time for my the contract employer where I have agreed to work directly for.

What is a Roth IRA account:

A Roth IRA is an Individual Retirement Account to which you contribute after-tax dollars. While there are no current-year tax benefits, your contributions and earnings can grow tax-free, and you can withdraw them tax-free and penalty free after age 59½ and once the account has been open for five years.

Understand you financial health.

– repair if you need to

– save

– budget

– invest

Money is necessary to survive and thrive, so understand for to build financial security for yourself and your family.

LadyFlava of LadyFlavaNews

Sharing My Thoughts on Money