Talking about money is a sensitive subject for some, yet a constant topic for others. Take a moment to think about it: How’s your relationship with money? Chances are, your childhood experience with money plays a part in your relationship with money as an adult. Who had the biggest impact in your life on how you view money? For me, it was my Grandfather! My grandfather was always thinking about how to make more money. He had the idea of having multiple streams of income before it was even popular. Here are some thoughts to consider regardless of your stage in life:
#1 | find ways to make money work for you!
There will come a point in your life when you can no longer work. Or, with the fast pace growth of artificial intelligence, you might be replaced. Therefore, now more than ever we must figure out ways to make money work for us. I personally use investing in real estate as a method of achieving passive income. Regardless of the avenue you select, be sure to get the knowledge what you need in order to take action. If you don’t figure out a way to make money work for you, then you’ll most likely have to work until you die.
#2 | WHAT CYCLE DO YOU NEED TO BREAK?
Do you run up your charge cards then get a lump sum of money and pay them off? Then run your charge cards up to the limit, just to pay them off again? It’s a crazy vicious cycle. A wise man from my church once told me that chances are we don’t need more money, we need more discipline. Regardless of whether you’re living paycheck to paycheck or have an abundance of money, if you don’t have discipline, you won’t be able to keep the money that you’ve earned. If you get direct deposit, most companies will allow you to send your money to multiple accounts. Send some money to an account that you don’t have a debit card for so it's a hassle to withdraw money. This will help you to save some money instead of spending every penny that you earn.
#3 | UNCOVER YOUR MONEY-MAKING SKILL SET
What is it that comes easy to you but is hard for most? What is it that you’re always asked to bring to the family gatherings? I was talking with a lady that opened up a lemonade business because her family was always asking for her lemonade at family functions. Just yesterday a lady was telling me of a story about a man taking a chicken dinner to work for his coworkers and it was recommended that he sell his chicken seasoning. Now, his seasoning is available in stores all over the country. What is your gift that you are overlooking that you can monetize? We live in the land of opportunity. Don’t overlook your God-given abilities to increase your income to provide for your family.
Regardless of your relationship with money, don’t run from the need to be honest with yourself about your behavior patterns that are keeping you in this loop of insanity. More money isn’t always the answer. Therefore, add some discipline to your life so that when you do receive the blessing that you’ve been praying for, you steward that blessing in a way that is pleasing to God.
Sometimes you must practice self control. How you do anything is how you do everything! Therefore, when you practice saying no when needed in your finances, then you can say no in other areas of your life where you desire to achieve big audacious goals!
LIFE HACKS: THE MONEY FACTOR
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MEET THE AUTHOR
Dana Spencer is a financial expert and the mother of her only son Justin. She guides single moms to achieve financial freedom through investing in real estate and believes that everyone should achieve the blessing of home ownership. Her vision to help every single mom starts with her new book, A Beginner’s Guide to Financial Freedom Through Real Estate. She also works to educate single moms on the value and benefits of home ownership, as well as leaving a legacy for their children.
Connect with Dana over on our Facebook page!
WHO WE ARE
The Life of a Single Mom is a national, faith-based, nonprofit that exists to see that no single mom walks alone. To date, the organization has worked with hundreds of churches to start a single mom’s support group in cities throughout the U.S. and beyond, as well as having served hundreds of thousands of single mothers with a variety of programs. Offering a large array of books, curriculum, training materials, online instructional videos, podcasts, newsletters, life skills education, and more, TLSM is one of the largest single mom organizations in the U.S. The robust selection of single mom programs focus on empowering single moms to grow spiritually, emotionally, financially, and parentally through Single Mom University, Single Moms Across America, the National TLSM Single Moms Conference, boot camps, and a variety of other programs. For more information, visit thelifeofasinglemom.com.
