Broke is a mindset. You heard me. And I’m not writing this from a place of, “I’m rolling in it, so listen to me.” I’m writing this as someone who still isn’t where she wants to be but she’s been through financial hell and back again. I’ve learned ALOT along the way, and I was thinking I might share some tips and tricks I’ve picked up over the years.
Just for some (hopefully relatable) background, I started out in the financial world with terrible credit and I’d personally never even applied for a credit card. Somehow I started out on the wrong side. I have a pretty good guess as to how that happened, but figured it out far too late to really do anything about it. I couldn’t even get a Walmart store card. Yes… you heard me again. That’s how bad it was. To make matters worse, I didn’t know how bank accounts worked or how to write a check. I was judged, overlooked, scoffed at, and taken advantage of as a result.
When it came time to buy my first car, even though I had a sizable downpayment, the only lender who would work with me offered me a 19% interest rate. Yes, you heard me that time too. 😆 But you know what I did know? I did know that I want to become independently wealthy, that I enjoy figuring out ways to increase my income. I may not have been able to write a proper check, but I did know about making investments and saving money. Not just the physical act of putting money in savings, but actually how to cut costs and wise investments versus unwise investments.
So it was really rocky at first but then I got my first big girl job, and immediately did all of the right things. Savings, investments, etc. I intentionally lived below my means in order to build wealth (when I wasn’t busy over-investing in friends and family😘). But then I took a huge leap of faith, to focus on my own business and leave my corporate job. It was time. (Mike can tell you all his crazy financial mishaps if he wants to. 🤪😘)
Little did my husband and I know, but that was the beginning of a 5-year long spiritual attack on our finances and everything else. At one point we were living on my part time income only, over 15k+ in debt from medical bills and bad advice, with both cars broken down, and me in and out of the hospital due to medical mysteries. It felt like a never-ending nightmare. We started to become paranoid to trust a season of less difficulty because another shoe was bound to drop. But we had hope, good people on our side, and we refused to give in to a scarcity mindset – though at times it was hard not to.
Fast forward to the present, my husband and I own 2 cars and have owned our first home for 3 years now. We’re also virtually debt free! In the 3 years we’ve owned our home we’ve seen the property value increase exponentially, and as soon as we finish our improvements, ooo boy, mama goose and papa penguin are excited! And we are both very happy and growing in our careers. Praise The Lord for His provision and favor! He deserves all the praise!
Here are 7 ways Mike and I continued with an abundance, wealth-building mindset through it all:
1. We stay the course. I cannot tell you how many times the temptation to return to the 9-5 life took hold of me in moments of struggle and doubt. “Did I hear you, Lord? Did I make the right decision?” Each time I asked, I was met with a very solid, “Stay the course. Trust in me.” God always provided. And in so many wonderful and unexpected ways that neither we, nor anyone else, could really take the credit. So we committed to follow one course until successful. I could write a whole other blog on the blessings, of our own and for others, which have occurred because we stayed the course. You can’t put a price tag on that.
We knew that sacrificing the time and energy of building the ministry God called me to would not be worth it in the end. It would only set us back. Don’t get me wrong, I earn a great income, but it was uncomfortable trusting God in those hard times. Oh, how we’ve grown because we did.
2. We remain grateful. Oh, don’t get me wrong, there were definitely moments where we were anything but grateful. Moments where we have in to the frustration, overwhelm, fear, etc. but in the end, we chose to defer to grateful. We recognize that work is a privilege, and we enjoy it. We’re not shy about hard work. We focus on all that we do have. We focus on being good stewards of what we’ve been given. You’d be shocked at the money you will save when your learn to be grateful for what you have. And through the attitude of gratitude, it’s so cool how we are able to give generously as well.
Gratitude also allows us to be gracious receivers. If you’re like me, the idea of a handout makes my skin crawl. I’d rather starve than have someone feel sorry for me. (I know that’s dramatic, but God is working on me.) It brings others joy to help when they feel lead and we enjoy finding ways to repay that generosity. Where I come from, there’s no such thing as a gift. Everything had a price. Humbling myself and being willing to let others in and let them bless me has been super tough. It’s taught me a great deal though. We never expect anything, and instill struggle a little accepting generosity, but God has a way of surprising us.
3. We have mentors we trust. There are a lot of selfish, greedy, dishonest people out there who’s only aim is for their own benefit. When you’re starting out and don’t have a clue and there’s no one to guide you (that was me), you’re vulnerable and easy prey for the dishonorable. But I didn’t give up. I would cut my losses and search for people I could trust. People who’s values match my own, people who have a passion for what they do because they see the value in how they help others.
Yes, we’re in business to make money, but many entrepreneurs and business people choose their professions because they find fulfillment in adding value to others. Now, we have a team of trusted advisors and professionals who we couldn’t appreciate more! They help us diversify.
4. We review our budget. Mike and I review our budget almost weekly to make sure that what’s going out is working for us to provide for our needs and goals. If something’s not working we adjust. Communication is vital. It was a frustrating process as we worked through this piece. We have different ways of thinking about finances. We had to be very patient with each other; we learned not to point fingers and quickly own our mistakes. We set aside intentional time in our schedule to do this.
We also talk with our providers and ask questions for better understanding. We express our objectives so that our providers better understand what we’re aiming for. That’s lead us to make some pretty cool moves with different policies to set us up for greater abundance. We do not have all our eggs in one basket, and not only look for ways to save money, but also ways to earn.
5. We avoid the unnecessary. All work and no fun make Mike and Cindy dull kids. But, we have made sacrifices to free up room in our budget. We almost refuse to pay for any subscriptions to anything period. But we still leave room for our hobbies and date nights etc. Mike is the spender and I’m the saver. We’ve learned the merits of both and have found a good balance.
We’ve learned to be DIYers where we can, and are wise about where we can’t. If you don’t need to pay for it don’t, but this is highly subjective. Be careful. We think before we purchase. Is it something we need? Is it something we will use? Do we have something similar already? Will we regret it let if we do/do not purchase it?
6. We’re savvy shoppers. With my health struggles and Mike’s aversion to running lots of errands, we’ve developed some great systems to help us save time and money when we’re shopping for things like groceries. It’s become sort of a game that we strategize and celebrate our effectiveness and efficiency. I’ll leave this one brief as I think it’s best suited for a post of its own at some point.
7. We practice grace. I have wasted way too much time and energy beating myself up for an embarrassing number of things that I probably couldn’t control as much I believed I could. Mike has really helped me big on this one. Sometimes we miscommunicate or miscalculate. Sometimes we don’t reach the goal by our elected deadline. One example is in our investments accounts. It took Mike a while to come back around to this because he was badly burned by an investor. Where we both started strong in this area, through life and unforeseeable mishaps, we basically had to start over. And when we did, we had to start much smaller.
But the win here is that we started. A small start is better than no start at all. And if you fall of the horse, don’t quit, get back on. And to look at where we are now through all of that, I’m overwhelmed. Good things can take time, but are well worth the wait.
There you have it. With these tools in place, it’s amazing to see how far we’ve come from the kids we were when we started out. What tips and tricks have you learned or developed for money management? I’d love to hear from you!
LiveALIVE Today,
Cindy
Heavenly Father, you are wise beyond measure. You know all the secrets. Yet like a good parent, instead of handing them to us, You work with us we we can learn for ourselves. Things stick Bette that way and we appreciate them so much more. God, I thank You for all the people in our life who have helped us be it through their generosity or their wise counsel. I thank You for those who took advantage of us, for You used them to teach us. Lord, would you bless them all. Thank You, Lord, for extending Your hand of favor of each person reading this blog. May they find a 100-fold harvest from their efforts. May they find people they can trust who can help them. Give us eyes to see, expand our capacity and creativity. Thank You that You have placed opportunities all around. Oh how You love to bless Your children. Father, forgive me for taking You for granted. Forgive me for lacking gratitude. Forgive me for anytime I’ve hardened my heart to generosity, either giving or receiving. Fill me and all those reading with a mindset of abundance and gratitude. In Jesus name, I thank You for these things. Amen