Bouncing Back

If you have ever had or been in a financial crunch, you know like I do that bouncing back isn’t easy.  The key is what causes one to have to bounce back in the first place?

One thought, one desire, one want, so powerful can cloud judgment.  Financial discipline is never easy to achieve and often in the midst of achieving the discipline required to go to the next level, feeling of lack and limitation plague the mind!  When budgeting is viewed from a place of restraint, denial and sacrifice it is easy to get frustrated with discipline and give in to desire.  It happens to the best of us. How much do those tantrums cost us?  How long does one pay for a bad decision or misjudgment in the area of financial management?

First, this has been repeated and will remain a stable comment.  You cannot improve or become a better financial manager without having a way to track your income and expenses.  Implement a system!

Secondly, to see just how long or how costly a financial decision is one must track or use the system consistently.  Then figure out all that had to be done, the bills that were shifted ( you know the ones you pay late or make arrangements on to cover the item you bought).  There is always late fees, as well as the fact you use an opportunity of making arrangements that didn’t have to be utilized at this time.

Next comes the unexpected.  Nothing ever happens when you expect it to happen.  That moment you splurge because everyone else was going or the moment you give in to a whim is when the car will break down, a tire will go flat and need replacing or an unexpected bill comes in that requires immediate attention.  $$$$$$$$$$$$$$$$$ It’s adding up quickly.

Without tracking the finances, it is easy for one to begin to feel despair and as if life is beating them down when actually inappropriate decisions are to blame.

Are you in a financial crunch now?  Go back and track your spending! It’s never too late to break old habits that cause you long-term problems.  Stop having to Bounce Back and begin Bouncing Forward!

ROMANCE AND FINANCE: Doing it together and separately

Many are the articles written that discussing couples and finance.  It is common knowledge that bad finance equals bad romance.  Now the difference lies in how to overcome the challenges of handling romance and finance.  Some people say the better money manager handle all the bills, others say do it together.  From joint checking to individual checking the discussions are endless as well as the opinions.  Honestly speaking how to handle the finances does depend on the individuals and involved and honestly speaking no one can tell a couple what to do.  However there are a few things that can be avoided to maintain the relationship and keep it tight.

1)      It was mentioned last week but it bears repeating.  Don’t lie.  Lying about finances at any point to anyone isn’t necessary.  However lying to one another is a definite way to put a strain on the relationship in the wrong areas, area of trust.  No matter how bad it is or seems to be the truth is always the best policy.

2)   Regardless of who handles the finances, both partners should always know what’s going on.  Communicate especially on finances on a regular basis.

3)   Budget and discuss the budget.  When financial decisions have to be made, discuss and make them together even when you find yourself agreeing to disagree.  Take a note here of the decision and the outcome, it will help in the future.

4)   Remember two wrongs never make a right.  Even when one person does or mismanages finances or makes a decision without the partner, finances is the wrong area to get back at one another.  It cost too much literally and figuratively.

5)    Handle business first.  Whether you have a joint account or individual accounts, make sure that you both agree to handle business first before play.  You will always want to take advantage of special times, do special things but do everything in decency and in order.

Romance and finance do not have to be at odds, it is possible to be in harmony and co-exist without stress.  It does not mean that the finances will always be plentiful or work the way you desire, but it does mean that despite the turns of the finances, romance can still exist and exist pleasantly.

Religion vs. Kingdom Pt. 1

There will be much more to come in next week’s Pt. 2 as we tear down the things that defy the knowledge of God and continue to challenge you to a higher calling in Christ. Remember this is for those that are after the very heart of God! Half-steppers need not apply. If you want a blog that’s going to make you feel good about yourself and never challenge or convict you, find another blog now! Lol Continue reading

What is on your mind?

One of the many things as women that we do is think. We some times think to much and at times to little. We can go from one extreme to the next.  Often times unaware of the change in our thought pattern. We are well just thinking.   As Balance is a subject that people are always talking about I am sure it is something that at times has alluded you in your everyday life.  We have talked about several words that will help us establish our balance but today I want to deal with one word.  That word is Self-Conscious.  No I don’t mean being overly concerned about how you look in something or how something made you feel. I am talking about your mind.

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FINANCE CAN & WILL DESTROY ROMANCE

What is your myth, your fairy tale about finances and romances?  As much as we have evolved as women in all areas there still lies a “Cinderella” effect or thought process as it relates to money.  As women we are good at juggling our finances, robbing ‘peter’ to pay ‘paul’.   Switching pay dates for bills, making arrangements to retain more money in hand than one pays out.  On the surface it sounds good and I would never tell anyone not to juggle.  Juggling finances is something everyone must do at some time even businesses.  There is always a period where expenses may, can and will outweigh income.  Juggling however is never meant to be a long-term situation.  In fact it is designed to be a short-term fix for sensitive or slow cash flow periods.

Unfortunately most of us have mastered this tool or so we think and have developed it into a long-term financial plan.  Many spend their life hitting and missing bills, doing things one desire and paying for it later.  What they don’t ever recognized and/or confess is the stress that accompanies such a lifestyle.

As born ‘multi-taskers’ women can make this way of life seem to be a good thing when in fact it is quite the opposite.  However for too many ‘looking good’ maintaining ‘the image’ is far more important than acquiring a lifestyle.  Many are the men who enter relationships with women who seem to have it together only to marry into a financial mask, maze of mess, debt and bad credit.  Bad financial situations can make romance obsolete.

Don’t allow your faulty life-style to ruin a potential relationship for life.  I know we draw men by appearances but learn to ‘ball on a budget’.   It is possible to be in-style, to have it all without paying the high price or the price out of your budget.  In fact it is smarter.

Don’t overspend; lay-a-ways are always good options!  In most cases, furniture stores, clothing can be bought over time and without large hits to your budget, use them and use them wisely.   Avoid Rent-to-Own which isn’t the same thing.  The interest alone and not to mention the hit in your regular cash flow can make you a slave to them for life.

AVOID PAYCHECK LOANS:  We all like lump sums, they seem to handle everything and even leave you money leftover but it’s never as easy or simple as it appears.  Paycheck loans are the equivalent to loan sharks in the 60’s and 70’s.  They will drain you and keep you in debt.  In most cases, the loan you get is to pay revolving debt which means that same debt will come again quickly.  It is far better to sacrifice, make payment arrangements than it is to make a payday loan.

Fraud is fraud.  So if you sell yourself to a person one way and he or she finds out you aren’t what you appear to be, the fantasy is over.  Men portray themselves as ‘ballers’ and then get offended when the women are attracted to the lifestyle.

Be who you are financially and if you desire to move up, then do so legitimately.  Sacrifice going out EVERY WEEKEND to save!   Budget and plan verses spend and make it up.  Start your business on the side for extra money as well as future financial security.

LAST BUT NOT LEAST, DON’T LIE!  OMG!  As an owner of a professional bookkeeping company, more people lie about their finances than I care to think about.  Lying about the finances doesn’t help ANY relationship especially intimate ones.  If you aren’t good with money or have financial issues, it’s best to be upfront and honest.  In any relationship one person may handle the finances but it requires both to make sure everything is handled.  It’s called checks and balances.

FINANCE IS DEFINITELY CONNECTED TO ROMANCE now you write the ending to your story but what you do or don’t do.