Money is always a touchy subject. It is either our salvation or our curse. Either way, without money we are unable to live and survive in this world.
Many times, the way we think about money can affect the outcome of the turnover in revenue we try to obtain. How we think (and sometimes feel emotionally) can hinder our potential of stretching our money or earning it in other ways.
To overcome these road blocks, check out the following tips below.
5 Steps to a Healthy Money Mindset
The first step to overcoming your mental road blocks with money is to change your thinking about money. Many people, especially single moms, create negative psychological barriers thinking that money problems are out of our control, but they are really not.
The second step is to understand money’s true purpose. Once you have that understanding, you will be more aware of its abundance.
The third step is to always keep in mind that there is always more money available to you. No matter if you pay a bill or write a check, just know that money will come again.
The last tip is to let the money go to receive more. It sounds like the complete opposite of what you should do, but if you let the money go you will receive more and sometimes more.
Overcoming psychological barriers is not an easy thing to do especially with money. But once you do break down the negative walls, money will come flowing and stay in abundance. If you don’t over think your money and all of its attachments, life will be a lot more positive for you and your finances.
Extra money is a constant need in any family or lifestyle. With taxes, loans, credit cards, and other unavoidable expenses, a little extra cash would be pretty helpful, especially with the upcoming holidays around the corner. Consider these following tips when finding motivation and new means of getting extra cash.
In most cases, it’s almost a bad idea not to have multiple streams of income coming in. A great way to make extra money is to utilize your skills and talents and make money off of that. Doing things that you are passionate about to make extra money is good motivation, and a rewarding side hustle. If you don’t have anything you’re passionate about, try to do services or create services that people need (or want) and fulfill them. Another way to make money is by taking a class on starting your own business through your local Chamber of Commerce; you don’t have to have an MBA to run a business.
Making extra money doesn’t have to be consistent at first as long as it’s helping to meet what you need or want. Either way, having extra money can always help towards your savings or rainy day funds like mentioned in a previous article. For more ideas check out: richsinglemomma.com/weblog/category/side-hustles.
As mentioned in the previous article on banking basics, society is too caught up in mainstream ways of thinking that they end up missing better opportunities! The same way you can find better banking and saving opportunities, you can find better products and services in general. What all of these things have in common is research, research, and research. Before you purchase another service or product, check out these research tips below.
Before you purchase another product or service, make sure you research online about the quality and price. This step is highly advised, because it makes a world of difference when comparing your options. When you research on websites like google.com, amazon.com, ePinions.com, Znet.com, Cnet.com, and more, you save yourself time, frustration, and money! Who wouldn’t want to do that? Even sometimes ebay.com has better deals than major retail stores.
If you’re not in your own corner, who will be? Get an idea about the quality of the product and/or service you are seeking and an idea of a roundabout price for it first. A little research never hurt anyone.
A lot of times, we as a nation are unable to look outside mainstream products and services. We tend to end up missing better opportunities for ourselves and our family when we follow the crowd, or “do as we are told”. One of the things that America struggles with is finding a secure bank or “cheap” bank to put our money in. Putting your money in a “safer” and “free” place is to your best interest.
Joining a Credit Union can help avoid outrageous bank fees and limitations of how much money you need to have in your own account. Banks are notorious for finding a reason to nickel and dime you, and most times there are penalties and fees. This, most times, is due to the fact that banks make money off of your money by lending it out to others through loans; how unfair is that?! Sometimes a credit union may be available through your employer, your state, or your school, like Georgia’s Own Credit Union and The Delta Credit Union with Delta Airlines.
Wouldn’t it be nice to hold on to ever cent that you earn instead of handing it over to someone else? Why be charged to save money and earn money? If you follow these steps, you will be on a better track to becoming financially fit!
Everyone, at some point in their life, will have a “rainy day”. For those who are unfamiliar with the phrase, it means a day or time period where one comes across times of unexpected financial troubles. It is always a good idea to save money for times that you cannot foresee from now.
The first step to preparing your rainy day fund is to have a savings plan for emergencies. It’s hard to predict when and where a financial emergency will emerge, and it’s better to be prepared for such occasion. Second, open up a separate account for your rainy day fund. Any spare funds that you receive, whether it’s a tax refunds, raises, a side job, or any extra income, is a good deposit for your newly created account. Third, it’s recommended that you have at least $1,000 to $3,000 in savings, but even if you save $500 it still helps wonders.
Having a rainy day account is very empowering to the soul. It gives you and your family a way out of financial troubles like unemployment for a period of time, or things that need fixing to maintain your life. Saving money also relinquishes stress levels, depression, and anxiety.
Hi! Welcome to RichSingleMomma.com. I started this website almost a decade ago because I couldn't find any blogs back then that helped single moms with money. I was having some success in that area so I decided to share what I knew about side hustles, making extra money, and managing money. Read more...
