Mo Money, Mo Problems…to Solve!

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Many times over, I have had the opportunity to revamp a budget for myself or someone else and have exposed ‘extra money’. This money, often times, is used for spending – we usually feel as though we deserve to spend it on ourselves. We do deserve to enjoy our income however I would encourage you to look into making plans for all money – including the seemingly ‘extra’.

Your ‘extra money’ can be something that you let run through your fingers or you can look to the future. If you think you are living paycheck-to-paycheck and do not have access to ‘extra money’, I have to ask about your spending. Do you eat fast food on a weekly or daily basis? Do you subscribe to cable or satellite TV? Are there things you spend money on monthly that are beyond the basic essentials? If you answered ‘yes’ to any of the previous questions, you are able to adjust your budget and get some ‘extra money’.

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What can you do with ‘extra money’? You might want to first secure an emergency fund. Your emergency fund is needed for the ‘just in case’ moments that you and your family may experience. It should be at least 3 months of expenses for your household that sits without being touched unless there is an emergency!

Ever thought about investing? It is not just for the wealthy! Banking professionals and financial gurus will tell you that in order to start investing you have to first be financially set. Being set financially includes budgeting for your expenses and saving for a rainy day. Your ability to save is often the key to having a mindset of investing. You want to be able to set an amount aside without touching it for quite some time in order to invest well and obtain a profitable return.

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Investing can be done in a number of ways. You can seek out business owners who may be in need of funds. You can take courses or attend workshops from financial institutions on the basics of investing into the stock market. There are also opportunities in network marketing, an entrepreneurial stream, or a type of passive income that may require an upfront fee- this too can be counted as an investment.

It’s important to remember that you are not only on this planet to exist but to fulfill a purpose. There are many people in need and who may lack the very resources you have in abundance. You can make a difference with your ‘extra’ by touching others around you, even in simply giving in order to meet a need. I encourage you to also think about others when spending that ‘extra money’. Where else would it be more effective?

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This message is not only for my readers but myself as well. Of course my goal is to be financially free – paying off my student loans and medical bills, but that is not all. I’d like to be able to give on a larger scale – providing wells in foreign countries and meals right here in the U.S. I would also like to pursue passions that I feel blessed to be talented with in order to earn my income instead of working a meaningless, purposely 9-to-5 making someone else wealthy. I would like to see my child taken care of and out of the public aide system. I would like to leave a legacy for my lineage and not just a long line of debt they never acquired. I’d like to do my part in our economy and invest in small businesses and entrepreneurs. What are you looking to do with your ‘extra’?


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