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budgeting

Implementing Change

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It’s the end of the month and the beginning of a new one, which means it’s time to update our monthly budget/business plan.

There’s always utilities that remain the same, so this should be pretty easy. Remember to add a new credit card payment or personal loan to the expenses and use the money saved or left over to pay those debts off as quickly as possible. Paying off interest accruing debts will help to save money. As the CEO of your household, increasing wealth and paying off debt should be the focus as you build your legacy, while passing on these good practices to your progeny for years to come. Master your finances, not the other way around.

It’s also a good idea to check your credit score and submit any disputes or correct inaccuracies as well. If you haven’t already, make sure to check out my book “Journey Into Finance” which is available for purchase on xlibris.com, amazon.com and the Kindle reading app (if you don’t have a Kindle, we offer the link on this site), and also on barnesandnoble.com and Nook. BTW-Nook is offering a 10% discount. When you purchase the paperback/softcover for $15.99, remember 50% of the proceeds go to fund ENTowner Build A Legacy Inc., programs and services.

To those who’ve already purchased “Journey Into Finance”, left reviews (telling of the things that help and encourage them on their path to understanding their relationship with money), I send you much love and appreciation. 🙂 Thank you for your support! It’s not always easy being an entrepreneur, if it were, EVERYONE would do it. As a writer, sharing intimate life stories in my book and online for everyone to read is quite intimidating; but if we kept everything to ourselves, this world would be a very dull place. So to all the writers, authors, and storytellers around the world-thank you for having the courage to share.

If you haven’t noticed, we’re monetizing this blog (through affiliate links) to help with fulfilling our purpose of sharing knowledge and creating more abundance (in mind, health, and wealth) for generations to come. Thank you for clicking on the links and making purchases from My Favorite Things.

That’s all for now folks.

Wishing you peace, love and prosperity,

ET

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Opportunity to Serve

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FREE MONEY FOR SCHOOL
Opportunity to Serve

Financial Illiteracy Epidemic & Opportunity to Serve

Financial problems have reached epidemic proportions in our country, a crisis that causes major problems at both the community and national levels. Financial issues contribute to a variety of troubles many people face today: from crushing debt to retirement shortfalls. And the stress associated with financial issues can have devastating emotional impact. This epidemic hurts not only individuals, but the community as a whole.

Current statistics clearly indicate that many Americans are suffering greatly from a lack of practical financial knowledge. Reading these statistics and research is like looking into a crystal ball. Learning that as many as 75% of college students lack money handling skills tells us that those students are likely to run into credit problems in the future. Reading that the majority of U.S. adult workers have no savings or retirement plan tells us that those people will be unable to retire.

The U.S. economy is consumption-based. As people become unable to afford purchases- that reduces the country’s GDP. The whole world will feel the effects. But according to the NFEC, the country’s leading financial education providers, simply raising people’s personal finance knowledge empowers them toward secure futures.

Getting the message out is our main objective!

 

Ms. Banks

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entownerlogo1My children have a nickname they call me “Ms. Banks”- no not like the one and only Tyra Banks; but the mother who seemed to pull money out of thin air when there was an emergency.

That’s because I follow my advice and save for a rainy day. I know the gurus in finance like Robert Kiyosaki, Tony Robbins, and Dave Ramsey, say you can’t get rich saving money, and they’re right-but you have to start somewhere, right? Unless of course, you are an heir to a fortune or win money from the lottery; however, those are exceptions to the rule.

I wasn’t as fortunate as some, my life started out very rough and I wrote about my struggles in my book “Journey Into Finance” and what helped me along my journey. So, for most people in my circumstances, getting a job and saving money from their paycheck to reach a certain goal like purchasing their first car, is the most logical option.

Once the money is saved, then and only then can a purchase be made. My first car was a 1997 Toyota Corolla which I affectionately named “hooptie”. It was a used vehicle and had very high mileage, but it got me from point A to point B and further for a few years. A minimal investment of $500 dollars was the total cash price and I put $100.00 down for the lot owner to hold it for me. Each week I put $150.00 dollars aside from my paycheck for the car and insurance, and in 4 weeks, that “hooptie” was mine.  I invested in new tires, a designer steering wheel cover and she was good to go. When you pay for a car with cash, it doesn’t help your credit score though, so I had to use my bill payment history to begin showing my credit worthiness. Tip: never put your utility bill in the hands of someone else to pay, if they miss a payment, your credit suffers.

I’ve always been good at putting money aside and when I met my husband, he showed me how to coin pennies and then take them to the bank in exchange for dollars. Once I got it established. I’m very thankful for those early years, because it taught me how to persevere through the tough times and how to appreciate small things.

As I write this post, I’m proud of that nickname “Ms. Banks”. Happy Holidays.

Until next time…

Wishing you peace and prosperity,

ET