What are you thankful for today?
Day to day we wake up, go about our day, return to rest, to it over again the next day. Some days we may focus on what we don’t have, which can be very draining, disappointing, and for some, overly dramatic.
Instead of letting the lack of something you want in physical form, a relationship or monetarily, find a favorite or new book, cook your favorite dish, cook a new dish, meditating also helps, get out to hike, or make art.
Find something that you enjoy to transform negative energy. As you are doing something positive, your perspective will adjust to be motivated and thankful.
– Kadesh Carter
Focusing on your finances does not have to be a dreadful task this year (or ever for that fact). We recently posted the image below on our Instagram page and wanted to continue the conversation with a few tips on how to focus this year.
1. Start a savings envelope by putting away a few dollars here and there in it and larger amounts when you can. Yes, this works! Many people think of a savings and the number of commas that will appear on their monthly banking statement. BE REALISTIC – you may not have an inheritance, or a job that allows you to put a large chunk of money to the side to get you started but that does not mean that you shouldn’t start somewhere. A little goes a long way and adding money and not counting it (if you can resist) brings excitement to the process.
2. Don’t buy what you don’t need. Look at the bigger picture of if it is a want or an actual need. You may really, like or even love it, but instant gratification is often followed by not using the item after its been purchased, looking for a lost receipt to return it, or realizing that that money could have been used towards something actually beneficial.
3. Sign up for online banking with your financial institution to keep track of what you are spending monthly. All modern day financial institutions (banks and credit unions) offer online banking and you can always ask a representative to show you how to get started. Each banks online access offers something different but the main features across the board are your real time banking history and bill pay which allows you to pay bills or send money to another person.
4. Write out the financial goals that you wish to achieve in the next month, 3 months, 6 months and by the end of 2019. Writing things out makes thoughts and ideas more clear and concise. Plus, you do not have to wonder about what those goals are in case you do forget. Some people create a vision board, which are creative and fun, but they are busy to the eyes, unlike in our earlier school days, its probably not something that you want hanging on your wall. Between the cut out words and pictures, sometimes a good ol’ note pad or desktop document looks and works better.
5. Only buy what you can afford aka live within your means. Yes, the newest iPhone or Android just came out and it is trending at the top of the tech industry must have list, but is your phone even broken? And if it is broken, look at older models, the features will be mainly the same and anywhere from $100 to $500 less than the newest version. Use this technique as a way to have a conversation with yourself and be reasonable with your wallet.
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Best Regards and Happy New Year!
From cash to credit to crypto, this world revolves around currency. Some have hopes and dreams of working until they save up and retire early or on time. Others have plans to get promoted at work and earn that amount of money sooner in life. Every day for many people there is the thought of what life would be like having a comfortable amount of money in their savings account. There are many entrepreneurs who have additional work outside of their regular 9-5 career. There are small businesses, entrepreneurs and startups who work independently and on their own. And of course, there are those who are comfortable with the income that they receive. But at the end of the day each of these individuals need money to live.
It is argued that finance should be incorporated in high school as a core, or home-ec (home economics) course for teens to learn about early on. Instead teens are offered credit cards as soon as they are 18 by mailed advertisements or from the bank when they first establish a bank account. Credit card issuance with many young adults not knowing about finance, interest rates, or payment agreements. We could say that this is unfair, or not and the parents should be the ones to teach their children. BUT there are many adults who simply cannot teach because of their own limited knowledge. Do not believe me? Google “personal finance” and see just how many articles there are available targeting adults. Available, and yet still intimidating.
My first job was in retail working at a department store making minimum wage, (maybe $7 and change if I remember correctly) and soon after receiving the first few checks that barely covered transportation to and from work, and food due to my limited, sometimes only 3 hour shifts a few days out the week I learned quickly that money makes the world go round and I could not continue working where I was at. A friend then suggested that I apply for the bank where she worked. I wanted a higher paying job, so I studied the company like it was an exam. Which I always have prior to interviews to give me the confidence (and advantage) that I knew more about the company than other potential candidates. Therefore, in the interview I answered questions impressively, responded with great questions of my own, spoke of the importance of banking in the world that we live in, as well as I spoke of company history that even my interviewers were surprised that I knew (and sometimes would tell me they didn’t know about themselves). Striking? Very much so.
I began to lean a whole lot about finance from the start of getting hired, and in my 8-year career I understood that a lot of fundamentals were simply not understood by clients. Even when tellers, bankers, and financial planners would talk to clients I knew that it sounded like “bank jargon” from their expression or eagerness to end the discussion. Advancing through promotions, my vocabulary (and knowledge) from corporate training courses increased but the understanding from the general public did not.
On the finance section of this website, as well as the personal finance articles that will be published on the blog section, information will be shared to guide you to continuous personal finance development. Before I started working as a freelance creative I left banking in my final position as a Personal Account Advisor/Personal Banker in the corporate office of a credit union on the Peninsula between Silicon Valley and San Francisco, CA. Though my career in banking is in the past I still use what I learned over those 8 years and I continue to read books, read blogs, watch vlogs, and keep updated with current financial trends.
Learn to be motivated and not to be intimidated because before the big dreams of complete financial stability, or financial freedom comes into fruition, understanding the basic knowledge of finance (currency/credit) is key.
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