Desire To Succeed

I woke up this morning with this thought in my mind. In my post yesterday I mentioned that I sometimes feel afraid of my own success, truth be told, I’m also afraid of failure. Anyone who has started their own business or even thought of doing it has definitely experienced this feeling.

My desire to succeed far exceeds my fear of failure, and that’s what keeps me going. I am more afraid of not trying than I am of failing. If I don’t try, I’ve already failed. So, I keep pushing, keep thriving and putting in the work everyday. I do this because I want to leave a legacy for my son, my nephews and my younger sisters. I want so much for them that I’m willing to sacrifice so much of myself without them even knowing.

I don’t expect to be successful at everything, but I will not let fear hinder me from trying.

November Financial Read

As part of my goals for this month I’m reading a personal finance book that I hope will help me on my journey. For this month I chose “Your Money Map” by Howard Dayton of Crown Financial Ministries.

I started reading this book sometime last year but didn’t get to finish it, I only got about 20 pages in before life’s distractions took over. I’m really looking forward to finishing what I started and hopefully implement some of the strategies discussed in the book.

I’ll be posting a review once I’m done. If you’ve read the book feel free to drop me a line and let me know your 2 cents.

November 2013 Goals

New Month, New Goals…Happy November!

I’m so excited about this month, we’re two months away from the end of the year YIKES! There are quiet a few things that I’m really looking forward to this month and I’ve centered this month’s goals around most of them.

Here goes…

Health and Fitness Goals:
*Lose 5 lbs
*No sugar (with the exception of my sister’s bday cake)
*Drink only water, tea or coffee – no juice or pop
*Track what I’m eating
*Workout 5x a week
*Get a check up at the Doctor’s
*Practice clean eating
*No Junk Food
*Do a detox

Financial Goals:
*Track all spending
*Stick to my budget
*Save $400
*Read 1 financial book
*No spend month (only buy things that I need)

Mind and Spirit:
*Continue to declutter my home (Trash, Sell or Donate)
*Have at least two “no TV’ days at home (the TV stays off and we focus on other areas of our lives)
*Make time to read the Bible and pray more
*Love, Forgive and Release

Some of these things will be very easy for me while others won’t. I’m looking forward to completing everything on this list. To make that happen I’m going to be breaking things down into weekly goals and take it from there.

If you’ve put together your monthly goals I wish you the best of luck in achieving each one!

I Hate Debt

I hate debt…I sincerely do. It frustrates me when I have any to the point where that’s all I think about. Now that I know better, I do better. I had no one to show me how to deal with money, everything that I’ve learned about personal finance I’ve had to learn through trial and error. It’s not exactly the way I wanted to learn but some very valuable lessons were learned.

So in the spirit of me hating debt, I’ve decided to pull money from my savings account to pay off the balance on my credit card, the thought of all the interest was getting to me and I just couldn’t deal with it. It just didn’t make sense to spend the next few months paying it off and paying an extra $50 in interest each month. I’ll now be able to focus on saving for a down payment on my first home without having to worry about paying off my credit card. I’m really looking forward to this next step in my financial life.

 

Learning to live in the moment…

Getting Back on Track…Financially

Well, I’ve fallen off the wagon…way off. They say old habits die hard and I now see how that saying is true. I’ve been very good over the last few years with saving and keeping my spending in check for the most part. Being financially stable has always been very important to me, especially since I have a son and I’m a single parent. Unfortunately, lately I’ve fallen back into some bad habits and it’s time to face the music. The only debt I have right now is my credit card, and that currently sits at $2,450…sigh. Over the next few months I’ll be focusing on strategies to pay this off and increase my savings. 

Sacrifices will have to be made, I’ll have to miss out on a few things like going out with family/friends but they’ll just have to understand for now. Short term pain for long-term gain. 

For the rest of October, I’ll be in no spend mode, I’ll be tracking my expenses and following my budget. 

Getting Back on Track

Now that the lazy days of summer has come to a close, it’s time to get back on track…eating right, getting regular exercise are all part of the plan. I’m looking at this as a fresh start, I’ll be doing alot this month, including working on getting my business off the ground (I’ll share more of that later), that alone is a process in itself.

The last few months have been really hard for me, I’ve been in a really low and depressive mode. I finally feel like I’m coming out of it and I’m excited about what’s to come. I’ll mainly be focusing on wealth building over the next little while, as well as looking for a new home for me and my son.

Overall, I’m just really excited about this next phase of life!

Learning to live in the moment,
Shar

Spending Diet: Round 2

I’ve decided to do another spending diet month for June. I’m really excited about this, it’s going to give me a chance to get my spending back on track and kick me back into some serious savings gear. I already know of a couple of expenses this month (new tires and replacing my windshield), other than that I don’t expect to spend a great deal of money.

Same as before, I will not be spending money on anything I don’t need…I’ll be avoiding grocery shopping, for the most part I’ll only be buying fresh produce, other than that I will bleed my cupboards dry to use everything I have before I shop for anything extra. I’ll also be making a meal plan around what I already have. I’ll be tracking my spending and recording on a weekly basis, same as I did before. I’m looking forward to having a great month!

Learning to live in the moment,
Shar

How Did You Learn About Money?

Money management or mismanagement I should say, has become so prevalent in our society. It seems like almost everyone I know or meet is in some type of debt. This instant gratification society that we live in doesn’t help either.

I was sitting around looking at my finances a couple of days ago and started thinking about what I was taught about money or managing my money when I was younger. Here’s what I learned…NOTHING! I honestly cannot remember a time when my mother sat me and my sisters down and talked to us about the importance of saving or spending our money wisely. That has a lot to do with her way of dealing with money, she was taught nothing as well. To this day, some of her spending habits bother me to the point of frustration and anger. Some might say that my mother’s finances is none of my business, but I make it my business because when she gets older and into retirement, my sisters and I will have to supplement her income.

Everything I know about money, I learned from experience and stupid money mistakes. The turning point for me was paying off my student loans as quickly as I could. I got so angry at owing that money, I paid off about $10K in less than two years. When people ask me how I did it I used to say “I don’t know, I just got it done”. The truth is, I did a lot to get it done, I scraped together everything that I had, I only bought things that my son and I needed, I didn’t go out to party, eat, or even hang out with friends. As hard as it was, I knew that hanging out usually meant that I had to spend money somehow. I even had to skip birthday parties of my friends for that period of time. I literally made a commitment to myself, and my son that we were not going to live in debt.

Since then, I try to make smarter financial decisions, of course, I’m not perfect so I slip up every now and then and make a purchase that I really shouldn’t have. But I’m learning to control my money and not let it control me.

Had I had a sound financial understanding growing up maybe, just maybe things would have turned out differently. I made the decision a long time ago that I would break the money cycle with my son, and teach him financial literacy. There is just no way that I could sit back and let him go into the world with no idea about the true value of money.

How did you learn about money? Did you have to go through the trials and errors like me?

Learning to live in the moment,
Shar