Sister Omiladé had an ill response to my Paper Chase post. It was so ill, in fact, that i had to re-post it in its own right. So without any further ado, ladies and gentlemen, put your hands together for the financial wisdom of Sister Omiladé
Okay, I’m by no means a financial adviser, but these are a few things that have helped me:
- Shift Perception: I used to often think “I can’t afford this or I won’t have that”. Our thoughts simply attract more of the same. I created a reality of lack and worse, I lived in fear of the lack I was creating. A shift in perception was necessary not only to improve my relationship with money, but to preserve my peace of mind.
- Fill the Hole: pay what you owe, whether it’s to a company or a person, if the debt is validly yours, pay it. Once I did this, I took responsibility for past decisions, improved my credit score, eliminated the looming void of owing others and the best part is I felt personally empowered.
- Create Reciprocity: To get, you must give. I started to give in small amounts and noticed once I released the fear of not having enough, a flow began. If currently unable to give money, give time and energy…just give something and witness reciprocity at work. (Check out sites like Kiva.com or Kickstarter.com)
- Prudent Prosperity: Things do happen and we should prepare for the unforeseen by setting aside an emergency fund. Ideally, it’s good to have at least six months of living expenses on reserve. I started with one month and moved up in manageable increments. The times I wasn’t saving were the very times things “came up” and the money was gone before I could even count and fold it.
- Work With What You Got: I’ve recently considered making the switch from card to cash. It will force better spending decisions and help avoid the blind swipe of the card (I’m a swipe pro). Also, I only use credit cards for revolving credit and make sure to only charge what I can pay in full and on time.
- Bet on Black: We’ve heard the phrase “pay yourself first” and it’s a great motto. I pay myself before doing anything else. I not only steadily increase my savings, but affirm that my time, efforts, and hard work are valuable and worth investing back into myself.