MY TOP 5 FINANCIAL EMPOWERMENT HACK$
“Money is money and can be made anywhere”
Law of Financial Attraction
“I can’t afford” and “I’m broke” should NEVER be in your vocabulary. The law of attraction for finances works the same way it does for energy. If you speak it into the universe, then that’s what you’d be. Instead of focusing on how much you don’t have to cater to your wants and needs, focus on what you’re willing and able to do to get it. Are you able to pick up a second job or side hustle to make shit happen? Study investments, stocks? Stop playing the victim and making excuses. I felt down and out on my luck a few years back after fracturing my spine. Finding a job with a cast around my neck was so intimating especially since i felt like there was no way in hell I could return to my dead end retail job - seeing that the stress resulted to my injury (the actual story is a snooze fest). One of my best friends said to me, "Money is money and can be made anywhere." She inspired me to get off my ass and figure shit out. I've been taking risks every since. I encourage you to start charging people for stuff you’re good at (i.e. building websites, designing abstract business cards, closet/wardrobe renovations and styling).
Don’t Just Create a budget, stick with it. Then invest.
While budgeting, it is extremely hard to keep at it, I know. When you see a sale, buying into it doesn’t always mean you’re being frugal or saving money. How many times have you went into a store for 2-3 items ideally supposed to spend $10-$20 dollars and come out with a cart of $100-$200 worth of products? In your mind you play the naïve and innocent role, “I was gonna need it anyway. It’s on sale so technically I’m actually saving.” Then you get home and hardly ever use what you bought! Like over buying groceries because the fruit was on sale, within the same week your berries rot. Or am I the only one sabotaging myself here? Just get what you need while you’re out and only that.
I saved an extra $50 (or more) buying ONLY what I need and knowing the power of saying no. Sometimes missing out on dinner/movie dates with friends is worth it. Cook and play games at the crib. It’s more intimate anyway. And you can do my absolute favorite during it all – get inebriated in the comforts of your own home! How sweet is that! And before I forget, do yourself a favor and get a finance planner! It comes in handy. I purchased one from Dollar General.
In regards to getting fly, please don’t waste your time spending money on fads unless your friend got a shirt line and you respect the hustle. All that trendy here today and gone by next week, save it. You don’t need it. Now… if you’re investing in a Chanel bag, that’s different. My boyfriend hates when I say spending money on clothes is an investment because in his mind, it’s not making me any money. Guess what? That’s bullshit. If you study and know fashion, you’d know that Chanel bags are growing faster in value than the stock market, crazy right? Chanel handbags have increased in value by more than 70 percent in the past five years. So please, retire your trendy garments and invest in valuable pieces, something that’ll be an investment. And if you can’t go that big, don’t fret. Buy garments you can see yourself mixing and matching with items you already have over the next five to ten years. Plus think about it like this, if you go to the mall and buy off the mannequin, not only will you look like everybody else, but…. Now that I think about it… I don’t know what’s worse than looking like everybody else and only buying clothes to take a photo in one time, heart-rending.
Can’t spend what you don’t have
Instead of using one credit/debit card for everything, only use your credit/debit card for specific situations. I specifically have different cards for every situation. I have a credit card for gas and groceries. A debit card ONLY used for school (books, tuition, commute). I have a debit card ONLY used for my utilities and rent. A debit card ONLY used for shopping, random everyday purchases and annual fees (clothes, home décor, iTunes, picture/graphic apps - oh and be careful with those annual fees, it’d say free for the first month and in small print, $19.99 monthly fee. That’s how they get you!). It just makes life that much easier for me when everything is organized. I know where everything is going. Also, if you’re that bad with swiping, before going to places, keep your card somewhere safe and only carry cash while you’re out spending money. My boyfriend never really uses his card. For the week he’d take out a certain amount and that exact amount has to get him (us) through the week. He’s much better than I am because…….. uhh… yeahhh…. Not sure when I’ll adopt that algorithm but it sure as hell works. You physically see how fast your money goes and it becomes more detrimental. And of course, STOP OVER-FUCKING SPENDING. You know your wage, ball accordingly.
Reward System
I like to create some sort of reward system for myself which helps me decrease my spending. Instead of spending money off my credit/debit cards, sometimes I invest in gift cards, $5-$10 for coffee shops, $30 for a random retail store, and another $30 for a restaurant. I swear the money gets stretched so far because I know the limit. I'm not depending on my income to replace what I spend. Its another way of being a strategist with my wallet.
Make It Back
If you don’t know already, you know now. Anything that’s business related; meals, movies entertainment, furniture, tools, electronics, that’s all a tax write off. Phone bill (if business related) a tax write off. You can earn 20-100 percent of your funds back if you document your expenses that are business related. Look into it!
I came across a few apps that pay for taking surveys, one in particular, Survey which you can download on any smart phone. I missed out on the really big payouts, the $34-$38 ones – bummer. It’s quick and simple. I’ve been slacking, hard, but so far I have about $12 to redeem. My goals is redeeming $40 and deposit it into my savings. Its free money, why not? You spend time browsing the web anyway. You might as well get paid to answer some quick questions for some money. What I love about this app is that if you don’t fit the requirements (after answering one question) you still get paid ten cents, unlike any other survey I came across. I’d answer 20 questions and suddenly “I don’t fit the requirements.” Some surveys are scams so be careful and do research. I try to stick to ones from word of mouth.