My last blog article http://mayashowcase.com/blog/black-women-only-worth-5 “Black Women… only worth $5” received a lot of attention. Readers were astounded by the statics (as was I) and I received a lot questions about the financial tips that I suggested in the article. I decided that I would use the opportunity to go more in depth about the tips that I suggested while offering more insight on ways to re-shape your financial future.
Let me give you a little of by background. I have an AA in business management and BA in communication and Technology. I own two successful businesses that my husband helps me run and I have five years of experience in the finance industry as a loan officer and financial counselor. I do not consider myself a financial expert and I am not a millionaire (yet). However, I made a decision to learn the foundation and principles of money management: how money works and how to make my money work for me. It’s not how much you make but how you spend it.
I’ve studied experts like Dr. Boyce Watkins, author of Black American Money; Robert Kiyosaki, author of the Rich Dad Poor Dad series; and Claud Anderson, author of PowerNomics: The National Plan to Empower Black America. With the guidance of these experts and more I’ve learned more than any school could teach me.
In the last 5 years I went from living check to check to becoming a college graduate, business owner, home owner and investor. I’ve learned the tools needed to boost my credit score (that information will be in a future blog) and that allows me to get anything I want.
I’ve planted seeds that will set me up for financial liberation. I didn’t come from an environment where money was talked about unless it was my mother telling how she didn’t have the money to get me whatever it was I was asking for. I knew nothing about building assets, establishing and growing credit or anything else that would help me along my financial journey. Because of that lack of education I made a lot of mistakes. I messed up my credit, spent my money on frivolous things and didn’t plan for the future. Though I am not currently where I plan to be financially, I have made a significant break though. I want to share with you the things that work for me. Keep in mind, everyone’s situation is different so what works for me might not work for you. I took bits and pieces from different philosophies that I studied and made a plan that works for my life style. With that said, I hope you, my readers, can pull from these tips and find helpful ways to get you on your path to financial freedom.
This is the first part of a 5 part series: Reshape your Thinking, Visualize and Plan, Start a business, Save your Money, Invest in your future.
Reshape your thinking
Growing up I didn’t come from an environment where finances where often a topic of discussion. The most I did learn about finances was how to SURVIVE? How to rob Peter to pay Paul? How long the grace period was for my cable bill before they shut it off? And any other way I could pull strings to make my money stretch. What my environment and school(s) failed to teach me was how to THRIVE. By my early twenties I knew I didn’t just want to survive in life. I knew I didn’t want work for anyone and I knew I had the talent to obtain those goals. However, it took me a while to change my thought process because for so long I only knew one way to think. I had the thought process of survivor and not a thrive(er). Like me, many Blacks come from poverty stricken environments where the resources to thrive in life are often not available. We’ve adopted this negative way of thinking that has hindered us throughout our lives.
Have you heard of the book, The Secret by Rhonda Byrne? It is a best-selling self-help book that focuses on the tools of positive thinking and manifesting your reality. It is a book that I reference frequently, especially when I feel myself drifting back into that survivor way of thinking.
Negative thinking can lead to anxiety, depression and failure to evolve in life. Below are 5 tips that I use on a daily basis that can help you change those negatives thoughts and send you on your way to better future: mentally, spiritually and FINANCIALLY!
Don’t think it can’t be done; think, how it can be done
Many have tried and many have failed but that doesn’t mean it can’t be done. Millionaire’s never think something CAN’T be done, they think HOW can it be done. There is a solution to every problem and as long as you approach the problem with HOW, you’ll eventually get your answer.
Don’t play victim
This step is simple. Take responsibility for your actions/inactions. For example, if you want to be a basketball player but you never practice, whose fault is it if you didn’t make the team. Is it your fault or the coach’s fault? Nothing in life is handed to you; you have to work for it.
Don’t let fear stop you
Trying new things is scary but don’t let that fear stop you from accomplishing your goals. Fear stops you from moving toward your goals. Make a commitment and carry it out no matter what. Most often than not, it isn’t as scary that you thought it would be.
Don’t be a Know-it-all
Look to your peers for guidance. Listen to their advice. The internet has everyone thinking they are experts of everything. It’s a great thing to do your research and learn as much as possible about your endeavors. However, your peers bring incite that a blog can’t. They have the experience and listening to their advice can prevent you from making a lot of mistakes.
Don’t be ungrateful
Most of us get wrapped up in what we don’t have and want we want. But this way of thinking gets us nowhere. There is a difference in visualizing your future when establishing goals versus thinking negatively about what you have already accomplished. Gratitude attracts more of what you desire. The same is true for ingratitude. If you think more about what you don’t have you will continue to NOT have it.
“The mind in everything. What you think, you become.” ~Buddha