KUWE: THE ART OF MONEY HANDLING


Hi ! and welcome back to my blog !
You probably already know what this post will be about because of the obvious title lol...I know it is completely different than my weekly fashion posts, but I honestly think this is something truly important to write about...especially that our society today (and from the dawn of time lol) strictly revolves around money. Sad, but true; just think about it. Almost every post you see on social media, directly or indirectly, is about purchasing an item or spending money some type of way. I feel responsible to let you guys know that although money can be a touchy subject, it is part of our everyday life, so we might as well know how to handle it and live life without worries.


As I stated previously, ironically, the majority of my content is "shopping" or spending $ here or there to achieve these looks for you guys. Do not get me wrong, I LOVE spending money haha...but you have to be smart about it. Truthfully, under all the twirling and poses you see on my blog, when it comes to money, I am a total control freak with the art of handling it. I calculate and forecast almost everyday on my expenses or on things I hope/.want to purchase now and in the future. What do I mean exactly? Let me break it down and put it in plain english: money looks way better in your bank account than in your closet (did I just write that?!). It is so true, and as I've gotten older, I have realized how much more valuable that saying is, literally.

With all of that being said, let's get to the good stuff!

Here are four basic points on the art of money handling
& how to acheive financial freedom...and I know you could do it !!!!

Before I go on I must put out a disclaimerThis is one person's point of view (mine) and this is what truly has worked for me and has been effective right now. I am not saying I will be sticking to these forever, but they are effective as of right now! I am aware that everyone has a different mindset and/or situation. I only hope you gain some good insight on this post.

Let's begin!

1. Basics of Money (forecasting):
Let's start with the definition of Money:
Money (.noun) : A current medium of exchange in the form of banknotes & coins.

More simply put, we exchange these various banknotes and coins for something in return. Wether it be for something tangible (food, clothes, etc) or for something that is aesthetically pleasing, we need these "banknotes" in order to live a common life. One important point on the art of money handling is forecasting. In other words, planning and knowing how your going to spend your hard-earned money now and in the upcoming weeks. Trust me, I know it sounds tedious, but it really paints you a realistic picture on where you stand. For instance, lets say you earn $700 each paycheck (a usual amount these days...) , you'd substract your monthly expenses and then your left with an "x" amount of money. You then take this amount that you currently have and add the same $700 to it (this is the next paycheck!) This is an incentive to me to not spend the $ I have left over as much so I could see a bigger amount when the next check comes lol (does that make sense?!) And this is only assuring that you won't be spending so much of the rest of the money you still have before the next check comes! I do this periodically, even daily! It really helps me save more than spend. Especially if I'm planning to purchase something tomorrow or in a couple of weeks....

Ok let's do a visual (always better!) lol..
*please note that this is just a basic example to get a better understanding*

2. Saving Money
Hopefully that wasn't too confusing :( lol...Please let me know if you have any questions in the comments, or you can email me! Next, something that I know it's truly difficult sometimes ( girllll, I know!)...is saving money. I will say when I first starting working and earning my own money, I didn't know what a savings account was or what it looked like lol...let alone saving for anything. It's just beautiful as you get older, your mind changes and you just have different priorities/goals (well, the majority of us lol). Anyways, I cannot stress how important it is to start saving money. Not only for current use, but for the future! Hello, you don't want to be 70 + years old and retired, without a penny in the bank (nuh-uh honey!). The most simplest way to start is to open a savings account that is connected to your current checking account. I think it's also possible to open a separate account that's only for your savings too. You then set a date and a amount; then that set amount will be deducted from your checking account and into your savings account monthly.

Also, put away an amount that is comfortable for you; even if its just $10! Put it somewhere you can't go back and reach for it, and just forget it exists! lol. Another way is if you have a bit of money to spare, put an additional amount into your savings account (not including the monthly deduction)..trust me, you will see that amount grow into 4 digits in no time! You will feel a sense of accomplishment, I promise. Wether you are saving for a shiney new car or a trip to Europe ;) ....it is so worth it. Another way to look at saving $ is that when you spend, it is only temporary happiness. In other words, you buy those "HAVE TO HAVE THEM" boots and then 2-3 days later, you forget about them (am I right, or nah? lol) All in all, saving money is always a better option. :)

Another way that you could start makin/saving money is by having a "side hustle". Quite plainly, another source of income aside from your main/stable job. Something as simple as selling homemade products or reselling items in your closet..can really add up and can be put aside into a savings without even having to touch your main source of income ! For instance, in my case, I sell/re-sell clothes on an app called poshmark and have made a quite significant amount of money, and honestly, I enjoy it! So try to find something you enjoy and go for it! It is really rewarding.


3. Starting/Building your credit
Aside from saving money, another crucial aspect in the art of handling money is starting your credit and building your credit (history) into a good foundation for the future. Somewhere to start could be as simple as a store credit card. For instance, I started with a Macy's credit card and boy did I feel powerful when I got it. BUT (there's always a but, right? lol) you have to be responsible in handling it, and I was..and still am! I for one, LOATHE owing money so from an early age, I noticed this and would always purchase things on credit that I could afford. What do I mean , you may ask? I mean I would only purchase things I know I could afford and pay back in a timely matter.

So this all comes down to discipline, but my tip to you is do not purchase something that you clearly cannot afford and cannot pay in full in a matter of 2-3 months. That is my "bible" on using credit cards. Going back to point number 1..if a credit card is part of your expenses make sure to pay, and pay more than the minimum(always) AND on time. For instance, when I plan to use a credit card on something that is pricey or a "splurge"..I make sure I have either the full amount to pay it soon or HALF of it. Yes at least half! That way the amount doesn't build as you use it and you will not feel overwhelmed; especially with those interest charges! Furthermore, a store credit card is just a start; when you feel ready, the next step is to apply for a bank credit card. Yay, now you're in the big leagues loll. The worst thing that could happen is that they deny you, but ALWAYS try again. If you know you have good credit, it shouldn't be a problem. Also, it is always beneficial to have a bank credit card because they are good for emergencies (no, a leather jacket is not an emergency) and you know it will always be there to use.
Having a good credit history means freedom; you WANT to have awesome credit and pay on time because that pays off in the future. Just think of it like this, you have to have to good credit to finance a car or buy a home of your own...I'm sure that is some type of motivation :) lol

4. Carving your path to financial freedom.
Finally, I truly believe that if these simple tasks/steps are followed, you are on your way to building a better life for yourself in terms on how you handle your money. Having financial freedom is power, and who doesn't like feeling powerful?! And also, it's not just for you; if your planning on having a family or if you already have one, it is for them too. I know all of this may sound a bit overwhelming but everything great starts with baby steps. A good way to keep everything in perspective and see what your weekly/monthly expenses are is to keep a journal ledger. There, you list all of your expenses by week, month, etc. It is shocking to see how much money you spend when you lay out everything in front of you. This will also hopefully help you in leaning into spending your money in a much smarter manner.


Thank you so much for reading & I hope you enjoyed this post :)
Any tips? feedback? leave them in the comments below

'til next post ! <3

2 comments

  1. Great post! It was helpful and I loved it!

    ReplyDelete
    Replies
    1. Hi !!! thank you so much :) that makes me happy. <3

      xo
      Estephanie

      Delete

Back to Top