Hey B.F.F. Ladies and Gents,
It's been a few weeks since my last post and I have truly enjoyed the break! However, I have to admit that I have missed writing and sharing with you all. Thank you to everyone that has continued to check-in week after week. Wherever you are in the world, I hope and pray that you and yours are well. Our focus for the month will be financial independence and sharing some great resources on how to become better stewards.
I recently was listening to a podcast with Dharius Daniels and Anthony Oneal. Two phenomenal men of God. Daniels is a pastor and Oneal is a financial advisor. Daniels shared a quote that really made me look at money and finances very differently. He said,
"While everyone is asking, what do I want to do with my money? You should be asking, what do you want your money to do for you?"
So I ask you, what is it that you want your money to do for you? What type of lifestyle do you want to live? What impact do you want to have on those around you? What legacy do you want to leave behind? Do not think only about the here and now but think about the things you desire for your future. We must shift our perspective and change our habits so that we manifest the lifestyle that we truly desire not only for ourselves but for generations to come.
As a black woman, finances are something that truly plagues our community. We often start behind the eightball building credit after we have applied for numerous credit cards or have many delinquent accounts. We struggle to save, manage, or budget money properly. We often do not have the discipline to deny ourselves the things we desire. I am grateful that my mother and father have shared their wisdom with me but even then I still did not fully understand the importance of credit and budgeting money properly.
One of my goals is to become a homeowner in the next few years. If you too, desire the same, these resources can truly help you manage, budget, save, and pay off debts. The first resource is the Dave Ramsey, Financial Peace University, https://www.daveramsey.com/fpu. Dave Ramsey is a radio show host, author, and businessman who believes in taking control of your money. Financial Peace University is a program that walks you through how to save, budget, and pay off debt. They have online courses, group chats, and coaching that will help you to create a plan just for you. The program also includes some great apps, EveryDollar, BabySteps. These apps are amazing and will help you stay on track and reach your financial goals.
I am new to the program and currently within the free 14 day trial period. After the first 14 days, the University is $129, and I have greatly considered investing because there are so many great resources. I will continue to share more insight as I go and grow through it. If you give it a try or have tried it I would love to hear your thoughts about the program.
If you would rather not invest in a program or app you could always go old school and manage your money with a good #2 pencil and a piece of paper. If your not sure where to start here are a few things you could do each time you get paid.
Pay your tithes - 10% of your paycheck should be given to your church. Don't miss an opportunity for God to bless you because you choose to withhold your tithes.
Pay all your bills - Determine what bills need to paid and pay them. Don't put them off!
Pay your self - This is not money for you to blow or spend on what you choose but to put into savings. Develop a habit to delay your gratification. You don't need the latest make or model of everything that comes out.
Stick to a zero dollar budget - Determine where each dollar goes. Do you need to pay off debt, save, or plan for miscellaneous (haircut, nails, sport fees, clothes, shoes)?
Set financial goals and stick to them.
Being a good steward isn't just about finances. Sometimes we have to say no to going out, traveling, or going out to eat because we are preparing for a life that we desire. If you cannot manage the things God has placed you over, how can He bless you with more? I believe the first step for many of us is taking back control of our money, shifting our perspective, and building a life that we love!
If you find this post helpful share it with a friend, so they too can become apart of our B.F.F. Crew.
Love and Peace,