Hi everyone! My name is Jazmin, and I currently live in San Antonio, TX. I am a mom of two amazing boys! I had my first son at 16 years old. I was pregnant, trying to figure out how to get an abortion. Ironically, once people told me I needed to get an abortion because I couldn't do it because I had ruined my life- my eyes opened. I got to work. Little did I know I would face the next 8 years in an abusive relationship. I eventually found myself living out of my car with my baby in my hands. I had to make a choice. Financial freedom is attainable no matter what situation you find yourself in. Here are my 5 tips that helped me gain financial freedom.
1. Know your WHY
This was easy for me in my situation. I knew that I didn't have a choice but to change my life around for my baby. It was not only about me anymore. This became so apparent once I realized where my heart truly was; it changed into serving others instead of just me. Finding your deeper meaning behind saving your money and changing your financial situation will help motivate you when you want to give up.
2. Don't Compare
Don't make decisions out of comparing yourself to others. It's usually not the complete picture of someone's life- it's just the highlight reel. We're spending all this money and emotional energy just to keep up with a life we think everyone else is living and we're missing out on. And that is ruining not only our mental health but our financial security as well. Once you take your focus off of them and put it back on your own life, you can start to turn things around with your life and money.
3. Act your Wage- Spend Less Than You Make
I know when you get a paycheck, the first thing you want to do is spend this new money in your bank account. Act your wage, though. Like I mentioned before, don't compare yourself to others. You don't need that grand vacation like the person you followed on Instagram, and let's be honest; it's probably not in your budget. The key is to spend less than you make. This is how you start saving, so you can pay off any debt you may have.
4. Have a plan
A financial plan is your road map to get from where you are to where you want to be with your money. A budget is a plan for how you're going to spend your money. It puts you in charge and control every dollar you earn or spend. It should go before you spend it. You'll find the money you didn't even know you had- and build wealth doing it!
This is one of the most important tips. You need to stay disciplined with your money and yourself. Stay persistent with your savings. Money doesn't grow on trees, so hard work will need to be done. This discipline is so worth it, though when you finally pay off that last bit of debt and you are officially financially free!
Last note! If you're a single mom, I want you to know, don't ever let anyone tell you you can't do it. And when they do tell you that, it's fuel. Because you can!