The perfect advice for anyone who’s struggling to make ends meet:
I use to love the Suze Orman show. People would call in and ask their money questions no matter how ridiculous they were and she would answer them. Today I’m going to be like Suze Orman, the black version of course, who likes the change her hair up all the time and listen to J.Cole, just call me Young O (Kidding I still go by Candice Marie).
Today I’m going to answer someone’s email publicly of course I will keep them anonymous. I believe that many people have the same situation as the reader and so I wanted to help multiple people at once. If you have a question you can email me at firstname.lastname@example.org or comment below!
Let’s get started
Email: Candice, honestly right now I’m struggling to make ends meet. Every week I feel angry when I notice my job take half my pay for benefits, taxes, 401k and etc. The remainder of my money has to be spread out with loans and bills. Please give me some advice I want to be able to save for a house soon, but right now it’s not looking good if all my money is going to bills. Drop some knowledge on me girl!
Thank you for reaching out to me. I’m going to be extremely real with you because you are not the first person who’s reached out to me with this exact same scenario.
Time for a harsh reality check:
Your 9-5 isn’t set up for you to become rich. Let me repeat that your 9-5 isn’t set up for you to become rich. I know there are a few people who have proved that this isn’t true.
These people have saved and invested 85% of their income, lived in a one bedroom, used their local gym to shower, didn’t own a fridge, only bought microwavable meals and biked to work, now they’re able to retire at 30.
This is not the majority of people. If after taxes, benefits, and paying your bills each month you have little money left over your only option is to figure out ways to make more money.
Adjusting your budget:
Most people may tell you to go back to your budget. Cut out the overspending. Are you eating out too much?, shopping too much? Can you get rid of cable? Can you call your credit card companies asking them to lower your interest rate? Can you call your cell phone company and tell them that you’re switching companies unless they give you a cheaper plan? Have you tried cutting back on groceries?
Sometimes even after all these steps are done there is still no wiggle room for you to save much money. People reach out to me asking for help and once I look at their budget and they’ve cut out all they can cut there’s really not much that I can do to help. I am not a magician. I cannot make extra money appear into your bank accounts each month.
Although I’m not a magician I am a money coach and would love to chat with you to help you create your budget, create a plan to pay off your debt and save more money if you’re interested be sure to book your free 10 min money consultation here.
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What your only options are after you’ve cut down all you can cut from your budget
After budgeting and praying, the only thing I can say is to
- Find a way to get a promotion.
- Find another job, know your worth and get a job with a higher salary,
- Get a part time job.
- Create your own side hustle. Need tips on how to start your own blog? Read my guide create your own blog website.
- Hope you win the lottery.
What, ain’t nobody got time for that!
Now I know what you’re thinking. Candice my next review isn’t until 2019, my 9-5 job is so demanding I don’t have time to get a part time job or create a side hustle. If this is your way of thinking you will just have to suck it up and enjoy the struggle.
Goodbye life of struggle
For those of you who don’t want to struggle you need to put your thinking cap on, and realize that you have so many skills and talents that can be turned into side income.
Think about your skills set and talents
What do your friends and family always compliment you on? Do people come to your house and say wow your house is so organized? You know organization is a skill that you can be paid for right?
Do people always comment on how stylish you are? Are your friends always calling you up to ask if you can help them create vacation outfits? That is a skill that you can charge for.
Maybe you love giving out relationship advice. People are always writing you on Facebook asking what would you do if you were me? This is a skill that you can charge for.
My point is every day we are already using our God given skills and talents for free. We are doing things free for our friends and even using free platforms to spread our ideas. Even your knowledge can be turned into a package that people are willing to pay for. You know kind of like colleges who make billions by the way selling knowledge.
You have valuable skills. If you are using free platforms like Facebook, Instagram and Twitter all day I suggest you get your own website to offer your advice on and then use your social media to bring people to your own website. Once you have your own website be sure to create an email list.
These free platforms are cool, but you don’t own them. It’s time you start owning your ideas. If you’ve built up this huge following on Instaram or Facebook and then one day Instagram decides that they are selling their services to another company and removing all of your followers say goodbye to all your potential clients and customers.
I know it’s not easy, but neither is living pay check to check with nothing left over.
Even though you may feel like you can’t save money this method may help you
The Average American has less than $1,000 saved in an emergency account.
I use Capone 360 to set up multiple goal buckets. Which you know I love because when your money is jumbled into one account it’s hard to really separate in your mind which amount of money goes to what. For example if I’m saving for my first home I can have a first home savings account, if I’m saving for my rainy day fund I can add another rainy day fund. For me it’s always been helpful to see which goals I’m reaching.
You have to build your own. This week I want you to start thinking about your skills and talents. Really sit down and create a list. Start asking your friends and family what do they think that you’re good at and then start thinking about ways you can offer this as a service.
A great source for you to listen to is Smartpassive income Podcast. This podcast will give you plenty of ideas and ways to get started on how to create passive income.
*Update: The reader emailed me back: “Got that promotion. This will help me save so much money. I wouldn’t inquire if you didn’t suggested it. I was kind of nervous asking for it but it was worth it. Still trying to find an extra source of income. I will let you know what happens after that lol. Thanks again. Hope all is well. ”
With all my love,