Y'all, this one is long....I know. Feel free to take it in strides, but DO read each one! :-)
1. YOLO Perspective
This mindset keeps us in a habit of spending more than saving. Which keeps us in the same cycle of debt & financial frustration, month after month. Friend, I want you to live a life of wealth & abundance instead of frustration and overwhelm. That's why I am bringing you the hard truth! The truth that, yes…you do only live once. And because of that, you can manage your money in such a way that allows financial freedom for years to come! Did you know??
Did you know that the Median household income was $68,703 in 2019? Did you know that Americans spent an average of $13.2T (up 2.2% from the previous year in 2019? And, did you know that Consumer debt was approaching $14T after the second quarter of 2019? Did you also know that…despite the struggles of the pandemic…..American's are STILL pending billions of dollars? Friend, here's what my heart desires to convey.....It's OK to spend when you stay WITHIN your income limits and it's best to SAVE more than you spend! You Only Live Once! So, why not develop effective money habits so you can build & live a wealthy lifestyle that lasts generations??
2. "I don't know how"
For years, we spent hours upon hours in school learning things we swore we would never use again. Yet, many of us were never taught the foundational elements of personal financial management. We are often ashamed to admit it, but…one reason we remain stuck in the cycle of living paycheck-to-paycheck is that we don't know how to stop it. And, you know what?? It's not exactly our fault! We embarked on our adult lives with generational mindsets & habits that actually promoted poor money management. Please know, that is not a dig at our parents or grandparents. Honestly, they didn't know either! When I recall my childhood, I think of the years I went to school without breakfast, no money for lunch, and scrounging for snacks when I got home. I think of the times the lights were shut off & being told we could not afford named brand items (not even Kraft Mac & Cheese y'all). And, when I look back, I realized…….my parents did the best they knew how to! The problem? Society got so wrapped up in living the "American Dream" while wracking up debt, failing to save, and NEVER talking about it! Let alone educating others on how to avoid or break free from it!
THIS……my friend, is what has kept many living in shame and stuck in the same old cycle!