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Sis, Lets talk money

Updated: Jul 16, 2023

Managing money effectively is an important skill that can contribute to financial stability and overall well-being. I remember when money conversations used to make me sick to my stomach. Like, I would literally get sick. I didn't grow up having money conversations with my parents, and they definitely didn't teach us in school. Don't rely on the government, wait for a man or any hand outs. Secure your bag, yourself!

Here are 5 tips to help you be better with your money:

  1. Create a budget: Start by understanding your income and expenses. Make a list of your monthly income sources(child support, SSI, etc) analyze where your money is going. I personally hate budgets, but I hate being broke more. Create a budget that aligns with your financial goals and helps you prioritize your spending.

  2. Save and invest in real estate (shameless plug): Set aside something. I dont care if it's just $25. Create the habit. I recently learned that if I put money in my savings account that isn't connected to my checking account it makes it easier, and a little more challenging to transfer the money from savings to checking when I am in the Target line buying mad stuff I dont "need".

  3. Reduce unnecessary expenses: You know the saying "we got food at home", yeah that part. Try to cut back on eating out. This is a challenge for me cuz I love a good take out to eliminate me having to cook EVERYDAY (family of 6).

  4. Prioritize debt repayment: Make some sort of plan because trust me those creditors and student loans will make it for you in the worst times of your life.

  5. Continuously educate yourself: Stay informed about personal finance topics and strategies to improve your financial literacy. Read books, follow reputable financial websites or blogs, and consider attending seminars or workshops on money management. The more you understand about personal finance, the better equipped you'll be to make informed decisions and take control of your financial future.

Remember, managing money effectively is a long-term process, and it's important to be patient and persistent. Start implementing these tips gradually and adjust your approach as needed.

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