Financial Freedom

P.S. I support Jena 6 in my all black today!

I did an inordinate amount of shopping in the last two weeks... I mean crazy, random, out of my mind shopping. Spending beyond my means shopping. Stupid I know... So I've decided to put myself on punishment in an attempt to slow down, get my shopping addiction under control, and eliminate debt. In an attempt to regain control, I went home yesterday and went through every single Essence magazine I have to gather tips on financial freedom. (I love that magazine! Except for the stupid articles on how to get a man in bed and other 'let's-promote-pre-marital-sex' articles. Come on now Essence!) Each magazine has a section on work & wealth in which they dive into finances, careers, and homeownership. There's SO much helpful information, it's incredible. Let me educate you guys on a little bit of what I found out. Some of this you may already know, but hopefully you take as much of the info to heart as I have.

- need to make some quick cash? hit up e-bay or craigslist! i know there are some things in your house that you can sell that you've never used or can get rid of. e-bay makes their money off of fees and commissions, so if you don't want to go that route, stick with craigslist. consignment shops are a prize as well. thrift shops won't pay you for the goods you take them, but consignment shops will. as soon as your products are sold, you'll get a check! you normally you split the profits 50/50 or 60/40 with the shop, but get a contract if that's what you decide to do!

- pay yourself first! before paying bills and shopping, tuck at least 10% if your income into a savings account. (if you can't do 10%, do 5%.) automatic withdrawal works the best. build at 3 - 6 months of cash to cover living expenses in case of emergency. it would be best to separate the 10% savings from the emergency fund, but if you're just starting out, keep it as one.

- open a high-yield saving account! instead of the measly 0.05% normal interest account, visit INGdirect.com, HSBC.com, or etrade.com for 4-7% yields. and you can open these with a single $1 if that's all you have. gotta start somewhere!

- ask for lower interest rates on your bills. almost every credit bureau can appease your request. visit bcsalliance.com for talking scripts or letters that you can mail.

- STOP CHARGING! (ha.)

- get your hair and nails done at a beauty school. the costs for a wash and blowdry are half the price of your normal salon. each student is supervised by a professional so have no fear. they will do you right.

- get a money buddy. the best way to keep it all in check is to have someone who's right there next to you. start a moneyclub! visit moneyclubs.com for more information.

- put your amazon.com and blockbuster cards away and get your books and DVDs from the library!

- increase montly payments on your credit cards. never just pay the minimum. your FICO is directly correlated to your debt management!

- open a Roth IRA - another high interest yielding account. you have open with a large amount of money so if you're a little tight, go with those online internet sites I mentioned above.

- get a side hustle! and advertise your skills on craigslist. everyone has a skill that they can profit off. if you clean well, buy a mop, a broom, some sponges and some Pine Sol and clean a neighbors house for a fee. if you tend to find jobs easily, open a business to help people find their dream job. if you write well, write letters for people who can't express themselves so well. use your skills! open a business!

- BUY A HOUSE! the greatest investment you can make.

So be on your way to financial freedom people. Get your money right. Make it work for you. Don't work for it!