Spreading Funds
Spreading Funds
Finances
I am still a working progress with finances, and being able to maintain and save. I have always been a bit of a spender and love to shop. But at the same time very conscientious about my spending, with budgeting and planning my money out. I will say I ball on a budget, although I have very little income and financial support. I am grateful for any assistance that I receive from the government, being that I am a single mother of three children. I always was prideful and said that I would never depend on government assistance and I was very humbled by my second child. I have never been the type to ask for help, so I definitely felt I had to do what I have to do.
My income is little to none, I some how stretch a disability check and part time employment to provide for my family. That includes any necessities, any extracurriculars, any vacations and even any holidays. My children never even realize that I have little to no money because they get everything they want and need. I am not going to downplay any assistance I receive, my mom and my oldest daughter’s grandparents definitely help out as well, with back to school and birthdays and holidays.
I would say the downside of my finances is the amount I bring in and the fact that I will spend money before I get it. I’m a huge planner so every cent is planned out from month to month. I am also a huge fan of payments, I will pay on a nice family vacation or a luxury item over time, rather than buying straight out. I am big on not biting off more than you can chew, and will complete piece by piece based on my finances.
I know that I love money and have made descent money over the years, I just didn’t know how to keep it and grow it. With more budgeting and learning I’m hoping to be able to finance my generations to come. And instill financial literacy into them, something I wish I would have learned other than trial and error.
Stay tuned for progress and updates!
Financial Literacy
Financial literacy is something I learned as an adult; me being an accounting student and seeing how detrimental credit score can be. In my twenties I used and abused my credit causing it to drop to the low four hundreds and not being able to get anything in my name or line of credit. It wasn't until my late twenties when I realized that I had to do something about this if I wanted to be successful in life. However my finances were still bear minimum having gave birth to my third child and trying to figure out how to balance paying my monthly bills and making payment arrangements or settlements to rebuild my credit. It was until the beginning of 2023 when I actually started the repairing process, I learned the easiest way was to do when I received a lump sum of money which in that case was my tax refund. After settling two smaller accounts my score jumped over fifty points and I was out of the four hundreds. I continued to do every time I got extra funds and now my credit is in the six hundreds which is not my goal but I continue to take the steps to get it where I want, mid seven hundred and even eight hundred. My credit usage is the problem now and I am currently working on getting my credit accounts below 30% usage. I'm praying that by the time I finish my degree I am a representation of my knowledge on financial literacy and independence.
Holiday Money
Holiday Money