She Informs

Category: Financial Tips

  • Financial Planning for Single Women: Long-Term Goals

    Financial Planning for Single Women: Long-Term Goals

    Financial planning and independence are more important than ever, especially for single women who are solely responsible for their own financial well-being. Whether you’re single by choice, through divorce, or due to the loss of a partner, taking control of your financial future is essential. Now I know you’re thinking, why is the financial difference for single women?

    Why Financial Planning Is Different for Single Women

    Single women often face distinct financial challenges:

    • The gender pay gap means women typically earn less than men in similar positions
    • Women generally live longer than men, requiring more retirement savings
    • Single-income households have less financial cushion during emergencies
    • Women frequently take career breaks for caregiving, affecting their lifetime earnings
    • Many women report lower confidence in financial matters, though this gap is closing

    Despite these challenges, single women can thrive financially with proper planning and strategy.

    Building a Strong Financial Foundation

    1. Create an Emergency Fund

    As a single woman with one income, having a strong emergency fund is your first priority. Aim to save:

    • 6-9 months of essential living expenses for financial security
    • Keep this money in a high-yield savings account for easy access
    • Consider setting up automatic transfers to build this fund consistently

    An emergency fund provides peace of mind and prevents debt accumulation when unexpected expenses arise.

    2. Master Your Budget

    Understanding your money flow is critical when you’re solely responsible for your finances:

    • Track all income and expenses for 1-3 months to understand your spending patterns
    • Use the 50/30/20 rule as a starting framework (50% for needs, 30% for wants, 20% for savings/debt)
    • Consider using budgeting apps like Mint, YNAB, or Personal Capital
    • Review and adjust your budget quarterly to reflect life changes
    • Stick by your budget…strictly

    Remember that a budget isn’t restrictive—it’s a tool that gives you permission to spend confidently within your means.

    3. Tackle Debt Strategically

    Debt management is crucial for building wealth:

    • List all debts with their interest rates and minimum payments
    • Consider either the snowball method (paying smallest balances first) or the avalanche method (paying highest-interest debts first)
    • Look into refinancing high-interest debt when possible
    • Avoid accumulating new debt while paying down existing balances

    For single women, eliminating high-interest debt can provide additional financial flexibility and reduce stress.

    Protecting Yourself and Your Assets

    1. Insurance Coverage

    Without a partner’s income or benefits to fall back on, proper insurance coverage becomes even more critical:

    • Health insurance: Choose comprehensive coverage that balances premiums with out-of-pocket costs
    • Disability insurance: Replaces income if you’re unable to work due to illness or injury
    • Life insurance: Essential if you have dependents or debts that would burden others
    • Renter’s or homeowner’s insurance: Protects your living space and possessions
    • Long-term care insurance: Consider this by age 50-55 to protect your retirement savings

    Insurance provides financial protection against life’s unexpected events and should be reviewed annually.

    2. Estate Planning

    Every adult needs basic estate planning documents:

    • Will or trust: Specifies how your assets will be distributed
    • Power of attorney: Designates someone to handle your financial affairs if you’re incapacitated
    • Healthcare directive: Outlines your medical care preferences
    • Beneficiary designations: Update these on all financial accounts and insurance policies

    Carefully choosing trusted individuals for these roles is particularly important for single women without children.

    Building Wealth for the Future

    1. Retirement Planning

    Women’s longer life expectancy means retirement planning is especially crucial:

    • Maximize contributions to employer-sponsored retirement plans like 401(k)s, especially if there’s a match
    • Open an IRA (Traditional or Roth) for additional tax-advantaged savings
    • Aim to save 15-20% of income for retirement
    • Consider working with a financial advisor to develop a retirement strategy
    • Plan for potentially higher healthcare costs in later years

    The power of compound interest makes early investing crucial—even small amounts can grow significantly over time.

    2. Investment Strategies

    Building an investment portfolio allows your money to work for you:

    • Determine your risk tolerance and time horizon
    • Create a diversified portfolio across different asset classes
    • Consider low-cost index funds for broad market exposure
    • Automate regular investments to benefit from dollar-cost averaging
    • Rebalance your portfolio annually to maintain your target asset allocation

    Remember that investing is about long-term growth—focus on your goals rather than market fluctuations.

    3. Homeownership Considerations

    For many single women, homeownership represents both financial security and personal achievement:

    • Evaluate whether buying makes sense based on your career, location stability, and financial situation
    • Save for a down payment of at least 20% to avoid private mortgage insurance
    • Research first-time homebuyer programs and grants
    • Consider all costs of homeownership beyond the mortgage (maintenance, taxes, insurance)
    • Look into house-hacking options to offset costs, such as getting a roommate or renting part of your home

    While homeownership isn’t right for everyone, it can be a wealth-building strategy through equity accumulation and potential appreciation.

    Building Your Financial Support Network

    1. Professional Resources

    Consider working with financial professionals:

    • Financial advisor: Provides personalized advice and planning
    • Accountant: Helps optimize tax strategies
    • Estate attorney: Assists with comprehensive estate planning
    • Career coach: Helps maximize earning potential

    When selecting professionals, look for those who understand the unique needs of single women and have relevant credentials.

    2. Community Resources

    Connect with others for support and knowledge:

    • Financial education workshops specifically for women
    • Online communities like Ellevest or WealthySingleMommy
    • Local investment clubs or money circles
    • Mentorship relationships with financially savvy women

    Learning from others’ experiences can provide valuable insights and encouragement.

    Conclusion: Embracing Financial Independence

    Financial planning as a single woman may present unique challenges, but it also offers the freedom to make decisions based solely on your goals and values. By taking control of your finances through consistent planning, protection, and growth strategies, you can build a secure financial future that supports the life you want to live.

    Remember that financial planning is not a one-time event but an ongoing process. Review your plan regularly, adjust as your life changes, and celebrate your progress along the way. The confidence that comes from managing your financial life successfully can empower other areas of your life as well.

    Your financial journey is personal, and success looks different for everyone. By implementing the strategies in this guide, you’re taking the necessary steps toward financial freedom and security, regardless of your relationship status.

    Are you a single woman who has successfully navigated financial planning? Share your tips and experiences in the comments below!

  • Money-Saving Challenges

    Money-Saving Challenges

    Is it time to start getting your finances in order? Several practical money-saving challenges can help build savings habits and financial security. Here are some options:

    Buy on Amazon
    1. The 52-Week Challenge: Start by saving $1 in week 1, $2 in week 2, and so on until you reach $52 in week 52. This gradually increases your saving capacity and results in $1,378 saved by year’s end.
    2. The No-Spend Challenge: Designate a specific period (a weekend, a week, or a month) where you only spend on absolute necessities like bills and groceries. This helps identify unnecessary spending habits.
    3. The 30-Day Rule: When tempted to make an unplanned purchase, wait 30 days. If you still want it after that time, consider buying it. This reduces impulse spending.
    4. The $5 Challenge: Save every $5 bill you receive as change. This passive approach can add up surprisingly quickly.
    Buy on Amazon
    1. The Expense Tracking Challenge: For one month, track every single expense. This awareness often naturally reduces spending in problem areas.
    2. The Spare Change Challenge: At the end of each day, put all spare change and single bills into a jar. Deposit this money into your savings account monthly.
    Buy on Amazon
    1. The 1% Challenge: Increase your savings rate by 1% each month. If you start by saving 5% of your income, aim for 6% next month, and so on.
    2. The Declutter and Sell Challenge: Declutter one area of your home each week and sell items you no longer need, putting all proceeds into savings.
  • 5 Most Lucrative Passive Income Ideas for Women

    5 Most Lucrative Passive Income Ideas for Women

    Image by Mohamed Hassan from Pixabay

    Are you a woman looking for ways to generate passive income? Then you’ve come to the right place! In this article, I will discuss 5 of my favorite lucrative passive income ideas that are perfect for women. Whether you’re a stay-at-home mom, a full-time employee, or a female entrepreneur, these ideas can help you diversify your income streams and achieve financial independence.

    Passive income is simply the extra money you earn with little to no effort on your part. It allows you to make money while you sleep, giving you the freedom to focus on other aspects of your life.

    Why is passive income important for women?

    Passive income is a game-changer for women. It allows them to earn money without sacrificing their time and energy. Women often have multiple responsibilities and commitments, and passive income allows them to generate additional income while still focusing on their priorities.

    Passive income also offers financial security and independence. It can provide a safety net during uncertain times and help women achieve their financial goals. Whether saving for retirement, funding their children’s education, or pursuing their dreams, passive income can be a powerful tool for women to take control of their financial future.

    Generating passive income through rental properties

    Rental properties can provide a steady stream of monthly income while also offering the potential for long-term appreciation.

    Investing in rental properties involves purchasing properties and renting them out to tenants. The rental income covers the property expenses, such as mortgage payments, property taxes, and maintenance costs. The leftover income becomes passive income for the property owner.

    When choosing a rental property, location is key. Look for areas with high demand for rentals and strong rental profits. Conduct careful research on the local rental market and explore the potential rental income versus the expenses. It’s also important to screen tenants carefully to ensure a smooth rental experience.

    While managing rental properties does require some effort, it can be outsourced to property management companies if desired. That allows women to enjoy the benefits of passive income without the day-to-day responsibilities of being a landlord.

    Creating and selling digital products

    For women with creative skills and a passion for entrepreneurship, creating and selling digital products is a great passive income idea. Digital products include e-books, online courses, templates, stock photos, and more.

    The beauty of digital products is that they can be created once and sold repeatedly without incurring additional costs. Once the product is developed, it can be sold on various platforms, such as online marketplaces or through your own website.

    To succeed in selling digital products, it’s important to identify a target audience and create products that cater to their needs. It’s good to conduct research to understand what potential customers are looking for and develop products that provide solutions or valuable insights.

    Marketing plays a crucial role in selling digital products. Utilize social media, email marketing, and content marketing strategies to reach potential customers and promote your products. Building a strong brand and establishing yourself as an expert in your niche can also help attract customers and generate passive income.

    Building a successful online course

    Online courses have gained enormous popularity in recent years, and they offer a fantastic opportunity for women to share their knowledge and expertise while generating passive income.

    If you have expertise, knowledge, or skills in a particular field, consider creating an online course. Online platforms like Udemy, Teachable, and Coursera provide a user-friendly interface to develop and sell courses to a global audience.

    Before creating an online course, it’s important to identify a topic that you’re passionate about and that has market demand. Perform some market research to validate the demand and competition for your chosen topic. Structure your course with clear learning objectives, engaging content, and interactive elements to maximize its value.

    Promoting your online course is crucial for its success. Leverage social media, email marketing, and collaborations with influencers in your niche to reach potential students. Positive reviews and testimonials from satisfied students can also boost the credibility and appeal of your course.

    Monetizing a blog or website

    If you enjoy writing and have a knack for creating engaging content, monetizing a blog or website can be a fantastic passive income idea for women. Blogging allows you to share your thoughts, experiences, and expertise while earning money through various monetization strategies.

    To start monetizing a blog or website, choose a niche that you’re passionate about and that has market demand. Create high-quality, informative, and engaging content that resonates with your target audience. Optimize your blog for search engines to increase visibility and attract organic traffic.

    There are multiple ways to monetize a blog or website. Displaying ads through platforms like Google AdSense or joining ad networks can generate passive income through ad impressions or clicks. Affiliate marketing is another popular strategy, where you earn a commission for promoting products or services on your blog.

    Sponsored posts, brand collaborations, and selling digital products or services can also contribute to your blog’s revenue. Building a loyal audience through consistent and valuable content is key to attracting advertisers and generating passive income from your blog or website.

    Earning passive income through affiliate marketing

    Investing in Dividends

    One of the most popular ways to generate passive income is through dividend stocks. Dividends are a portion of a company’s earnings that are distributed to shareholders. By investing in dividend stocks, women can earn regular income without actively managing their investments.

    To get started with dividend stocks, it’s important to research and choose reputable companies that have a history of consistently paying dividends. Look for companies with strong financials, stable growth, and a solid dividend track record. Investing in a diversified portfolio of dividend stocks can help mitigate risk and maximize returns.

    Dividend stocks provide women with a steady stream of passive income that can be reinvested or used to cover expenses. Over time, as the dividends blend and the value of the stocks appreciates, women can potentially enjoy significant returns on their investments. It’s a long-term strategy that can provide ongoing income for years to come.

    While these are just a few, it is good to remember to choose the passive income idea that suits you best.

  • Scholarships & Grants for Single Mothers

    Scholarships & Grants for Single Mothers

    With inflation, rising living costs, and many more unmanageable things going on in the world. School can be very costly for just about anyone, especially single mothers. Being a mother is more than a full-time job, it’s a 24/7 job. Taking care of a child, working, and trying to pay bills are tough. Even not having the funds to start a business you’re passionate about can be super challenging. Here are a few scholarships and grants for the single mothers out there who are looking to improve their possibilities.

    $10,000 Scholarships4Moms

    A $10,000 scholarship giveaway for single moms. This one is super easy and includes a one-step process:

    1. Filling out the form on the homepage

    Simple!

    Single Mother Grants

    SingleMotherGrants.org has grants for rent, utility bills, child care, education, medication, housing, medical bills, mortgage, and other things as well. They have over 1,000 grants for single moms to apply for. They also have a FB page for you to join, where they post tips and hack for all moms out there who may need them.

    LouEllen Dabbs Scholarship

    This specific scholarship is for single parents interested in furthering their careers in banking, finance, and business. The requirements include:

    1. Must be enrolled in school for business administration or banking
    2. Must be a single parent
    3. Must have a minimum of 9 credits
    4. Must have at least a GPA of 2.35

    The Life of a Single Mom Ministries

    The Life of Single Mom Ministries is a nonprofit organization that has an extensive list of resources for single mothers. They assist in things like emergency services, such as housing, education awards, utility bill payment assistance, or other financial services. Providing life skill education in 3 core areas: Parenting, Finances, and Health & Wellness, along with life-changing events, such as single mom conferences, boot camps, and more. Life of Single Mom Ministries believes that no single mom should walk alone.

    College Grants for Single Mothers

    StudentGrants.org has a list of grants if you want to further your education in any degree. They range from three important places for available grants: the federal government, your state, and local governments, and private businesses and non-profit organizations. They correspondingly suggest you watch out for scams because there are plenty of websites that will scam you out of thousands of dollars.

    Supermom Scholarship

    The $2,000 Supermom Scholarship is designed to help undergraduate and graduate single mothers and those who have been directly impacted by one, on their path to obtaining a college degree. To apply, you must tell about your experience as a single mother and/or as the child of a single mother. After all, being a supermom is one of the most important jobs in the world.

    Asherah Foundation Scholarship Program

    Scholarship winners receive $2,500 annually to be applied toward expenses pertaining to a four-year college degree, associate degree, accredited vocational program, or other postsecondary career training program. Despite the seemingly long list of qualifications, the impact will be worth it. To qualify, you must:

    • Identify as a woman.
    • Be at least 24 years of age at the time of application.
    • Be committed to the pursuit of postsecondary education and/or training.
    • Demonstrate a financial inability to attain further education/training without the Scholarship.
    • Demonstrate personal discipline and perseverance.
    • Provide a high school transcript, a current transcript from the current school, or other documentation of educational progress.
    • Complete Foundation’s current essay requirement.
    • Provide two letters of recommendation and two references with contact information.
    • Have been accepted into an accredited college or university degree program or a vocational or training institution.

    The Patsy Takemoto Mink Education Foundation

    This foundation offers five scholarships every year to women who are at least 17 years old and are mothers with minor children. Wanting to pursue an associate’s degree, bachelor’s degree, or a vocational degree or certificate, and have an annual family income of $28,000 or less (depending on the number of family members). Awards are up to $5,000. Read the website for qualifications.

    Rosenfeld Injury Lawyers Single Mother Scholarship

    The Rosenfeld Injury Lawyers LLC’ offers an Annual Single Mother Scholarship to open doors for single mothers and their children.

    Rosenfeld Injury Lawyers LLC will review applications and award 2 applicants with a $1,000 scholarship each. This scholarship may be used to cover school-related expenses, such as tuition fees, registration costs, supplies, and books. Read their website to understand the requirements and the application process.

    Osher Reentry Scholarships

    The Osher Reentry scholarship, from the Bernard Osher Foundation, offers scholarship support for students who have experienced a cumulative gap in their education of five or more years; are at the undergraduate level and pursuing their first baccalaureate degree; anticipate workforce participation for a significant period of time after graduation; demonstrate financial need; and show academic promise and a commitment to obtaining their degree. Requirements include:

    Application Requirements

    • Application form required
    • Transcript required
    • Financial need analysis required

    Custody X Change Single Parent Scholarship

    The Custody X Change Giving Fund awards three scholarships to single parents each year. To apply, you must be a full-time student at an accredited college or university within or outside of the U.S. and have the equivalent of a 3.0 GPA or higher. One of the requirements for the application process includes a 400-500 word essay question that asks, “How will you use your education to improve your family?”

    Thanks for reading!

  • Energy-Saving Tips for Summer: Our Top 6 Hacks

    Energy-Saving Tips for Summer: Our Top 6 Hacks

    With the summer heat at a record high, I thought this would be the perfect time to share my most efficient energy-saving tips for summer to cool down the house and ways to maintain it during these excruciating summer months.

    Image by Tumisu, please consider ☕ Thank you! 🤗 from Pixabay

    If you live in the south like me, the heat can sometimes feel like the closest thing to hell. Which can also cause the energy bill to skyrocket. Here are my top five clever household hacks to keep that energy bill at its lowest, while not having to crank up the AC.

    1. Use Ceiling Fans

    Image by Stefan Schweihofer from Pixabay

    Circulating fresh air around the home using a ceiling fan can reduce the pressure from your air conditioning system. Specifically, during the summer months, it is best for your fan to spin quickly in the counterclockwise direction. Doing this pushes air down and creates a cool breeze.

    It also helps keep a room at temperature and reduces the need for an air conditioner consistently and inconsistently running.

    2. Insulate/Seal/Block Windows and Doors

    Your home may have poor insulation, which could be the #1 reason why it gets super hot/cold inside during the different seasons. In my opinion, this is one of the easiest and most efficient ways to keep the cool air in your house. While there are a vast majority of ways, here are five easy ways to insulate and protect the air in your home to decrease that electric bill. This is the most effective energy-saving tip for summer. I’ve noticed a drastic change in keeping the cool air in my home after sealing windows and doors.

    3. Energy-saving Curtains/Blinds

    Make sure to close blinds or buy black-out curtains. This blocks out access to sunlight that will come through. The darker the color, the better. The key is to make sure they’re installed to hang as close to the glass as possible. Heat will enter through the glass but curtains close to the glass reduce the chance of any heat getting through.

    4. Raise the Temperature on Your Thermostat

    Image by Rudy and Peter Skitterians from Pixabay

    Setting the temperature low on your thermostat can save you hundreds of dollars on your energy bill every year. Every summer, the U.S. Department of Energy suggests that when at home, 78 degrees fahrenheit is the ideal temperature for staying cool and keeping your energy bill at its lowest.

    5. Switch Off Appliances

    Image by Mote Oo Education from Pixabay

    You’d be surprised at the amount of waste heat the appliances around your house generate. Turning off and unplugging unused appliances can drop numbers in your energy bill every month. Also, avoid using unnecessary items, for instance, hand-wash your dishes vs using your dishwasher. Or hanging your clothes to dry vs using a dryer. Use these appliances as the sun goes down, and it will not only keep the house cool but cut back on your costs as well.

    6. Clean Your AC Filters Regularly

    If you live in an apartment, like myself, then this is typically something your local maintenance man would normally take care of. Which is something they should be doing regularly. In a house, if your AC isn’t working correctly, then it might be time to change the air filter. If your air filter is clogged or filthy, it makes your AC work harder and impacts indoor air quality. It can lead to allergies, inefficient warming, and raise your electric bill. It’s recommended to clean your filter every two weeks and replace it every four months.

    Always remember to keep it simple. The smaller your place is the lower the costs. Turn things off when you’re not using them. Use LED lights and if you absolutely have to use appliances, use energy-saving ones. Following these steps will put more money in your pockets. Have any suggestions not listed? Comment them below!

  • 5 Incredible Benefits Of Having A Side Hustle In 2024

    5 Incredible Benefits Of Having A Side Hustle In 2024

    Image by StockSnap from Pixabay

    While I am a huge advocate for making the most out of life and having a life outside of your hustle. It’s important not to work so hard that you forget how to truly live. Now, let’s get into it. Having a side hustle can come with a multitude of incredible benefits that go beyond just making some extra cash. Whether you’re a full-time employee, a freelancer, or a stay-at-home parent, a side hustle can enhance your finances, provide a creative outlet, and even offer opportunities for personal growth.

    Extra sources of income provide security

    One of the most significant benefits of having a side hustle is the added financial security it provides. By diversifying your income, you’re less reliant on a single paycheck and better equipped to weather any unexpected financial storms. Additionally, a side hustle gives you the freedom to explore your passions and interests outside of your main career, allowing you to find fulfillment beyond the 9-to-5 grind.

    If it didn’t hit you before, it hit during the COVID-19 pandemic. The pandemic taught us that it isn’t safe to just rely on your one day-to-day job. You can be let go at any time and you must be prepared for it—well, they expect you to be prepared.

    Either way, you need to be able to take care of yourself and whoever else, when the time comes. A side hustle can easily take care of that. Unexpected expenses like a hospital bill or a car accident usually happen when you least expect them. So it’s good to be able to cover the finances for these kinds of things.

    Good to have a creative outlet

    When people can pay you for something you’re very skillful at, you’ve established a happy medium. Being able to optimize your creative side is the true key to freedom. Here are some benefits of utilizing your creative outlet:

    • Creativity feeds the soul and uplifts your mood
    • Gives you inspiration
    • Seeing your work complete gives you a sense of purpose

    You can provide a service other people can’t, which makes you feel needed. If you adopt the right marketing skills, you can also teach people or sell products, ultimately creating another source of income.

    It will eventually replace your 9-5

    If you have dreams to finally one day retire from the dreadful, dead-end job that you hate going to every day, a side hustle would be the way to do it. If you choose the right side hustle, you can give up the 9-5 completely. A 9-5 is linear income, meaning you get paid the same amount of money to do the same amount of work. Once you stop working, you stop making money.

    Residual income (your side hustle) is key because you do work this week, and you still get paid for weeks, months, and even years to come. All it takes is consistency, discipline, and drive.

    Related: 5 Most Lucrative Passive Income Ideas for Women

    Flexibility and work-life balance

    If you’re ready to embark on a side hustle but aren’t sure where to start, here are some ideas for different skills:

    1. Writing and editing: Offer freelance writing or editing services for blogs, websites, or publications.

    2. Graphic design: Create custom logos, social media graphics, or website designs for small businesses.

    3. Photography: Offer professional photography services for events, portraits, or product shoots.

    4. Handmade crafts: Create and sell handmade jewelry, pottery, or other crafts on online marketplaces.

    5. Tutoring: Teach subjects you excel in, whether it’s academic subjects or specialized skills like music or languages.

    6. Consulting: Provide consulting services in your area of expertise, such as marketing, finance, or HR.

    Remember to choose a side hustle that aligns with your skills, interests, and available time. This will ensure that you enjoy the journey and stay committed to your side hustle in the long run.

    Retirement plans will no longer be an option

    While the retirement age has become a controversial issue, it is now being said that we will no longer have the option of a retirement plan in the years to come. That means while you’re working that 9-5 every day, there will be no guaranteed pension for you when the time comes for you to retire.

    According to Investopedia.com, social security is unlikely in the future to provide enough income for a comfortable retirement. If Social Security is reworked by Congress to extend its life, younger workers and high-income earners will likely be the ones to pay for it. The earlier you begin saving for retirement, the better. 

    Encouragement to start your side hustle

    In conclusion, having a side hustle can bring numerous benefits to your life. From the financial security it provides to the opportunities for personal growth and skill development, a side hustle can be a game-changer. It allows you to explore your passions, expand your network, and achieve a better work-life balance. So, whether you’re looking to boost your income, pursue a creative outlet, or gain entrepreneurial experience, starting a side hustle may be just what you need.

    Don’t let fear or uncertainty hold you back. Take the leap, embrace the opportunities, and start your side hustle today. With careful planning, dedication, and the right resources, you can turn your side hustle into a thriving venture that enhances your life in countless ways. So, what are you waiting for? Start hustling!

  • How Writing Out My Bills Helped Me Earn More Money

    How Writing Out My Bills Helped Me Earn More Money

    Image by 3D Animation Production Company from Pixabay

    Let me tell you how writing out my bills and expenses helped me out. I was sitting at work one day, constantly thinking about where I was financially and how I got there. I was living paycheck to paycheck at the time and I could not figure out where my money was going. I’m never the type to sit in my own pity, so I decided to take measures. Let me tell you how writing out my bills and expenses helped me out.

    For Motivational Purposes…

    To figure out where my money was going, I sat down and wrote everything out.

    Now, there are two types of people in this world; those that are broke and stay broke until they someday hit the lottery, and those who will do something about it. I’m a firm believer that YOU are in control of your life, so if you aren’t satisfied then you must make the change so you are. All I had to do was figure out the best way to implement my change.

    I was cleaning my apartment one day, listening to an audiobook called Secrets of the Millionaire Mind by T. Harv Eker. One of the most amazing audiobooks I’ve ever listened to; It is truly a must-read. It’s a blueprint on how wealthy people think and contributed a fortune to me putting my goals and aspirations into fruition. Here are a few things that stuck with me the most:

    • Manifestation is real, so everything begins with your thoughts.
    • Rich people believe “I create my life”, poor people believe “life happens to me”.
    • Get in the game. If you want it, start it.
    • Energy is contagious: either you affect people or infect people.
    • There’s nothing wrong with getting a steady paycheck, unless it interferes with your ability to earn what you’re worth. Which It usually does.

    I won’t share too many key points because I want you all to read/listen to it as well.

    After finishing it, I started my blog and was no longer at a job that was not paying me enough. But of course, this was after I wrote out my monthly bills and expenses. It wasn’t until I added everything up that I realized I had more bills than what I was making. So, instead of eliminating bills to make ends meet, I decided the only solution was that I needed more money. I wasn’t happy at my job and they weren’t paying me enough, so why was I still there?

    Below is an example of what I wrote out half a year ago. I was making $28,000 but with taxes and benefits, this is what my income came out to:

    Me writing out my bills and budget

    Quickly after starting my blog, I knew what type of work I wanted to do. So, I fixed my resume a little, made some adjustments to my LinkedIn, and made sure my website was nice enough for a recruiter to glance at.

    In my free time, I spent my entire day either working on my blog or applying to an enormous amount of jobs in the field I wanted to work in. I was starting to see some progress but I am so confident in myself that I wasn’t going to accept the first offer just because they were first. Along with the pay, I had to make sure it was a healthy work environment with good hours…I refused to be miserable. I knew my worth and I wasn’t going to sink (I now have a job that I really enjoy and pays me more, remember, never settle).

    Referring back to the line, rich people believe “I create my life”, poor people believe “life happens to me”–I knew it was up to me to be exactly where I wanted to be and if I had the “the world is against me” mentality then I wasn’t going to get far. I spoke it, put action towards it, and it happened. There are circumstances where people feel they lack the proper resources to get where they need to be but there is a way around everything.

    Wealth File #13: Rich people focus on their net worth. Poor people focus on their working income.

    I don’t mind working because working income is important, but having financial value is the true measure of wealth. Along with wanting to make more money, I want to invest long-term. I also know that I need the working income to invest and once I have savings and investments I’ve reached my true pinnacle. On the way to me reaching my pinnacle, I needed more money than just what was paying my bills.

    If you’re living paycheck to paycheck, and you are leaving it up to the Lord to get you out of it; he can only do so much without any action on your part. What’s stopping you from applying for that better-paying job or starting that business venture?