Money, money, money… An issue that I grew up seeing people struggle with.
I’ll be turning 24 in exactly a month’s time and I thought by now I would have grown my company to at least bring in some income that would be able to sustain the brand before we start counting profits in millions of dollars.
Sorry to say, as much as I push my links to get readings and try text my contacts to read what I write, not much has been accomplished- aside from having a website and registering the company. Yes, I mean zero income.
So I’m a writer. I quit my job after two months of employment- typical of most millennials or so I hear- to go back to a flexible lifestyle. I earn from writing for a friend who has a few clients, and so at least I have a way to pay my rent and eat. My basic needs are catered for, but not as entirely, since I still find myself taking a little loan every now and then to cater to some emergency needs.
So, the other day I was really thinking about my finances and how to get my life together. Not be a millionaire, though I’m still aiming towards that, really to have more than enough to get by. I hate it when I have to ask for loans for personal needs, not eat well because there’s nothing to use to get some basic groceries.
This is is when I realized that all I needed were five simple habits and commitments. Seriously, anyone could commit to these. At least if one wants to get out of debt and enjoy a decent meal plus go ahead and build a thriving life.
Get My Income Ahead of My Expenses
The main reason why I always got into petty cash debts was that my expenses were slowly building up while my income was not catching up. One more outfit for the reunion and no money saved for that. Gas runs out and I had no money for an emergency gas refill. Such small patterns were draining my finances so I made a commitment to always have more than what I really needed.
If the income was not going to increase anytime soon then I had to do away with some unnecessary spendings. As I work on my company to make it get to a point where some income is coming in, I will spend what I currently have in a way that emergencies will be catered for debt free.
After making a commitment to always have income ahead of expenses, it was only natural to follow the commitment with what I needed to prioritize and what was not as necessary. Obviously, food and a roof over my head are my first priorities, then data for work.
After the three are catered for, the next is grooming, then clearing debts, saving for emergency needs and finally leisure every once in a while.
You could prioritize differently, just make sure you choose a list that is sane, practical and one that takes care of your well being.
The first question people who do not understand the essence of giving ask is why anyone would give if they do not have enough for themselves. You give not because you have an excess to spare but because you are showing a sign of gratitude for what you have. Gratitude opens room for more.
Investing does not have to be a thousand dollars to the stock market, it could be as simple as investing time to learn on how to make profitable investments and where to start, sitting with a mentor for a cup of tea, ask successful people questions and spending 10 minutes a day thinking of ways to increase what you currently have.
Save For a Sunny Day
I hope that you will join me in the entrance to financial freedom a small step at a time. We might not yet be the greatest earners in our neighborhood but there is always something we could do to be money smart.