Starting your personal finance journey
When you start your personal finance journey, I believe 1 of 4 things happened.
You had an awakening about how much money you waste and something has to change.
You grew up in poverty and desperately want to change your reality in your adulthood.
You’re earning good money and don’t want to fumble the bag.
You’ve been struggling, and you’re sick and tired of being sick and tired of living paycheck to paycheck.
As I started writing these things, more variables came to mind, but I’m positive these are the big 4. Regardless of the category you fall in, I’m proud of you, and I’m excited to help you on your journey.
Back in 2019 when I was facing eviction, I wished I had a responsible homegirl who could encourage me and give me a blueprint on how to get myself out of the financial hole I’d dug myself in. Reflecting back on those times, I had no shortage of money. I had a $7,000 refund check and was working 2 part-time jobs as a college student. I didn’t have a money problem, I had a management problem that eventually led to me looking at an empty bank account and wondering how I was going to pay my rent. Because I was too prideful to call my mom and ask for help (who wants to hear a speech in a time of need?), I was forced to figure it out, and I started my personal finance journey.
Starting your personal finance journey requires a mental shift. You must first be honest about your relationship with money, then change your perspective on money and its purpose in life. Too many times, we treat money like it’s our master… working to earn it, spend it, and start the cycle all over again. *Ask me how I know. Working on your money mindset will prompt you to reverse the roles and allow money to serve you instead of you serving it.
There is more.
First things first, there is more to money than just making it, spending it, and barely saving it. Money is just a tool and should be used properly to take full advantage of all its benefits. Only using money to pay your bills and support your spending habits is like only using your iPhone to talk and text. You and I both know there is so much more we can do with our iPhone and if you’re not taking full advantage of what's at your fingertips you might as well go to Dollar General and buy a good ole faithful flip phone. So if there is more to your money than paying bills and spending it on whatever you want, what’s more?
There are four ways to use money as a tool. For short, I remember it as S.S.I.G.- save, spend, invest, and give. When you intentionally give your money direction aka budgeting you are simply asking yourself four questions: what am I saving, spending, investing, and giving this pay period?
Crock Pot > Microwave
Speaking of intentionality, another mental money shift you must make is valuing the crock pot over the microwave. I know I know it’s our money and we want it now (I used to love that commercial lol), but we must delay gratification and focus on the bigger picture. This doesn’t mean we can’t get the things we desire, it means instead of instantly getting what we want because we see it, we count the cost. Many of us, including myself, have been in tough financial spots because we wanted something and because we had the money in our account we purchased it with no acknowledgement of the bigger picture. When I mention the bigger picture, I’m referencing your financial goals and the vision you have for your finances which leads into our third money mindset shift.
Where are you going?
Vision. Vision. Vision. I probably should’ve started here but I had to save the best for last. Vision for your finances will tremendously shift how you handle your finances. Will you be the most responsible homegirl or homeboy ever once you get some vision? Absolutely not but you’ll be well on your way. When you know where you’re going, it’s easier to sacrifice and stay the course of your journey. Dr. Myles Munroe says it like this “Vision determines discipline. If you don’t know where you’re going you’ll do anything with your life. This same quote can be applied to your personal finances. When you don’t know what you’re working towards financially, you’ll do anything with your money. You’ll work hard for it, pay your bills (I hope), and then it’ll chill in your checking account until it’s spending time at Amazon, Chick-fil-A, Shein, Target, Walmart, Chipotle, Nike, and all of the other stores you financially support.
After reading this blog post, take some time to think about your vision for the future and dream big! Anything is possible if a person believes Mark 9:23 NLT. As you start your personal finance journey, make these mental money shifts and embrace the growing pains. If you have any questions, submit them to theresponsiblehomegirl@gmail.com, I’d love to hear from you!
