finances

Make Your Pennies Squeak! with Michelle Jackson

In This Episode…

Michelle Jackson discusses frugality and cutting costs without lowering your quality of life.

 

Ways to Listen to this Episode:

  1. Use the player above to listen/download the episode from this page
  2. Listen on iTunes, iHeartRadio, Google Play Music or Stitcher Radio (don’t forget to rate, review and subscribe!)

 

Key Points

You should never pay full price for anything.
Debt drags you down when the unexpected happens. But once you pay it off, you’ve given yourself a raise.

 

What You Can Do

  1. Do your research. You can find ways to save, then pick the ones that are easiest and most relevant for your livestyle. (Sites and apps mentioned in this show are listed below in Resources.)
  2. You can live a great quality of life leaving within your means, but first you have to decide that’s what you really want to do. Next, examine your finances to see where there’s room to change your system.
  3. Manage your income. Are there new skills you can learn to boost it? Can you parlay it into a digital-based side hustle? What are you naturally good at that can be marketed for pay?
  4. Pay off debt as quickly as possible.

 

Connect with My Guest

Michelle Jackson, Owner and Creative Content Curator, The Shop My Closet Project

Website

Instagram

Twitter

Email

Girl Gone Frugal Again Podcast

Colorado Luv Hub – Blog about all things Colorado (related podcast Square State)

The D.O.N.E. Society – Online community for future digital entrepreneurs

 

Links and Resources

These are the money-saving sites and apps mentioned in this episode, but there are many more!

Honey (browser extension)
Ebates
Ibotta
Poshmark (secondhand clothing, consignment)
ThredUp.com (secondhand clothing, consignment)

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Stop Helping Everyone!

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In This Episode…

Daree reads an article that reminds us of how we can decrease overwhelm by setting boundaries and eliminating the guilt others  try to place on us.

Ways to Listen to this Episode:

  1. Use the player above to listen/download the episode from this page
  2. Listen on iTunes or Stitcher Radio (don't forget to rate, review and subscribe!)

 

Key Points

 

Sometimes what some people call "giving" or "helping" is really "enabling" and it drains you.  And if you give too much of yourself to everyone else, what do you have left?  We have to learn how to minimize or let go of those toxic relationships, because they will kill your spirit if you let them. I talked about this at length in my show with Samantha Gregory, No More Crumbs


For those of you who find yourself on 30 different committees, you need to re-assess why you have so many commitments and which ones are truly necessary.  I talked about this more with Jonathan Wesley in the episode What is Your Calling?
 


 

 

What You Can Do

Assess which commitments you can let go of or pull back from. What's the worst thing that can happen if you set some boundaries and affirm yourself to decline some things presented to you? You can always say, "No, I won't be able to do that" and let that be the end of it–you don't have to give any further explanation.  As Latasha Matthews said in the Get Out of the Dump episode, No is a complete sentence. And if a person does not choose to get with the program and respect your boundaries, let them go. You want to weed out the folks that try to pull you down.


Trying to help everyone will just exhaust you and cause resentment. So strengthen your backbone and your self-esteem, and learn how to just say no!

 

 

 

Links and Resources

 

Stop Helping Everyone! by Christy Wright

 

Elevate Me! with Melisa Alaba

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In This Episode…

  • How to make changes in your life and business
  • Questions to ask when you’re not sure what to do next
  • Encouragement when it seems like your life is over

 

Ways to Listen to this Episode:

  1. Use the player above to listen/download the episode from this page
  2. Listen on iTunes or Stitcher Radio (don't forget to rate, review and subscribe!)

 

Key Points

 

Even when you may think your life is over, know that you CAN start over.  This is not the end!

Sometimes when we go through things, it helps us see what we are really made of, and what lies inside of us.

If you give a man a fish, he can eat for a day, but if you teach a man to fish, he can eat for a lifetime.

“Disruptive innovation” is a term Melisa uses for making small shifts that cause others to look at you in an admirable way so much so that they want what you have.

Sometimes you have to go down before you can come back up. There may be something you have to work out, or some negative feelings, traits or people that need to be purged from your life.

 

What You Can Do

Don’t get distracted by what other people are doing in their business—pinpoint your strengths and play to them hard! Delegate your weaknesses to someone who does them well.elevate me

Don’t be afraid to take risks.

Work in your season.  Get quiet, be still, pray and meditate. Ask God, “Where do You want me to be in this season?”

Instead of approaching your business focus on the hot trends, and asking yourself, “What should I be selling,” Ask this instead: “Who should I be serving?”

There is no one, straight path to making your millions. So try different things. Get unlimited in your thinking.


 

Connect with My Guest

Melisa Alaba, Visionary Life Coach, Licensed Professional Counselor, Author, “Freedompreneur”

Website

Twitter

Instagram

Facebook

Links and Resources

Elevate Me! Chronicles Magazine

Live Out Loud: 52 Ways to Reawaken Your Spirit and Live a Life of Purpose by Melisa Alaba

The One Minute Millionaire by Mark Victor Hansen and Robert G. Allen

 

Purse-nality Disorder with “Madam Money” Tarra Jackson

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In This Episode…

  • Committing “financial fornication”
  • Understanding and recognizing the financial love languages in yourself and your partner
  • Reframing your mindset and attitude about money
  • Another way to look at the financial successes you see online (avoiding comparison)

 

Ways to Listen to this Episode:

  1. Use the player above to listen/download the episode from this page
  2. Listen on iTunes or Stitcher Radio (don’t forget to rate, review and subscribe!)

 

Key Points

We often buy the most when we feel the least.

Some people are way more eager to talk about their love lives than their finances. But some people are financially promiscuous with their credit, having “one- night stands” with credit which leads to STDs (substantially tremendous debt).

Many people grow up not talking about money because it is painful to think about what we lack. But working with money is supposed to be fun. If people don’t think money is fun, it’s because they don’t understand the rules of the game and how to play it. It’s not wise to play Checkers with money when most financial institutions are playing Chess. You’ve got to understand the rules and the strategy. You must have a strategy but you can still make it fun. Going to the gym is painful but it can also be fun because you know the results you will get if you remain consistent with your workouts.

Being broke (a negative financial state) and feeling broken (a negative emotional state) are closely related. In both cases, we want to stop the pain of feeling broken or being broke, so we do certain things (unhealthy behaviors) to dull the pain even though we know the effects are temporary. For example, if you are sad after you break up with someone, you may want to avoid the pain or dull it by getting with someone new relationship. If you are sad about being broke, you may want to spend and put new charges on your card, which only increases your debt and puts you further in the hole of being broke. These behaviors are contradictory to what you ultimately want to achieve (not being in the pain of brokenness). So don’t ignore the signs—what you should do is avoid the behaviors that lead to brokenness, fix the break, and begin to heal. Repeating the same negative behaviors habitually will not help you make progress.

We tend to stick with habits and routines even if they do not lead to the outcomes we say we desire.

tarra corp purple transparentMost people rebel when they feel deprived or think that they will be deprived of what they want. This is why a lot of people fail when it comes to maintaining a diet or a budget. Reframe it as an eating plan or a spending plan, respectively, where you are reducing but not eliminating the “fatty” areas that keep you from progressing toward your goal. If you don’t plan and tell your money where to go, it will dictate to you what to do with it. Our money will then control you and tell you what you can’t do. A budget is not a bad thing—it empowers us. When you are constantly spending, you are funding someone else’s dreams, businesses, vacations and retirements:

“I had to realize that I was a financial fornicator. When I realized that my spending was giving somebody else what I wanted for myself, I had to shift a little bit. So now I save so I can have what I want FIRST, and THEN I spend on things I need and want later.” – Tarra “Madam Money” Jackson

There are different financial love languages: saver, spender, giver, and investor. If you won $1M, what is the first thing you would do with it? Your first initial response tells you which financial love language you have. This is especially important to consider when you are working with someone on money matters such as a business partner or a significant other, because when too people who are close speak different financial love languages, it can create conflict. Within these financial love languages is are additional levels such as narcissistic and insecure forms of the four basic levels mentioned above.

If someone is trying to control someone else with money, they don’t want to face their own reality or what their money issues are.

It’s easy to get caught up on social media looking at other people’s results and comparing them to your goals, but you don’t know what painful situations they had to go through to get the results and success that they enjoy now. Don’t become jealous about other people’s successes because you have to do what they did to achieve that success.

 

What You Can Do

 

Instead of thinking about what you “can’t” do and what restrictions you have, use that thing as an occasional treat and focus on your end goal. Re-train your mind and behavior to create a “new normal.”

Think about your triggers. Is your spending behavior an emotional response to a particular scenario? What kinds of things do you tend to overspend on? Self-awareness goes a long way to identifying behaviors and your current “normal” spending habits.

The world’s way is to “ball out ‘til you fall out,” spending 110% or more of your income and live paycheck to paycheck, instead of using cash (which means we are buying things we can actually afford). Having a river with multiple streams of income is what Tarra calls the “abundant budget,” and it counteracts the multiple streams of bills you have. You have to give, which activates the law of prosperity. You can’t receive with a closed fist. You have to save to plan for your future (near future such as a vacation, or retirement, or anything in between). You have to pay your bills. If anything is left over, that’s your money to play with. No play money available? Then adjust your bills. Maintain your giving and saving plans—don’t use that money for anything else.

Figure out and understand which your financial love language you speak, as well as that of your partner. When you do, you can learn how to communicate most effectively to minimize conflict. If you tell someone they can’t save, spend, invest or give (whichever one is their love language), causes them to want to rebel. Tarra gives key examples of verbiage to use with your partner instead.

Managing money is less about the money itself, and more about mindset and behavior. You have to put in the effort to make the change. You can make spending plans and other plans but if you don’t execute, it’s just a waste.

You can’t get to the prosperity without the pain. Saving money can be a sacrifice. Abstaining from certain foods is difficult if it’s what you crave. You may feel like you’re missing out. But you can make some things fun, too. Step out of your comfort zone and create a “new normal.” You will expand your territory.

Visualize what you want for your life. If your goal is a new home, find a picture of a beautiful home—your dream home—and put it somewhere that you can see it every day as a reminder. Then do the work it takes to get there—step by step, day by day.

Before you pray to become a millionaire, make sure you can handle your “hundred-aire” or your “thousand-aire” status. Manage your finances well where you are now, and that will open the door for more. It’s not about how much money you make, it’s about how much you spend. Make the decision to do something different that will improve your life and your financial situation, regardless of your current income. For your complimentary Financial Needs Analysis, email Tarra with “Kickin’ it with Daree” in the subject line.

 

Connect with My Guest

Tarra Jackson, aka Madam Money Economic Empowerment Speaker, Blogger, Author, and Consumer Advocate

Website

Facebook.com

Twitter

Instagram

 

Links and Resources

#CashChat Twitter Chat

Financial Fornication by Tarra Jackson

The Money Makeover by Dave Ramsey