8 Common Money Myths

August 24, 2019August 24, 2019 - Ariel Shanelle Leave a comment

Debt hasn’t always been around. It’s a product that has been marketed to death and now people line up to get into debt. There are many common money myths plaguing the American people today. Here are just some of them.

Money Myth: Rent-to-own places help the poor.

Fact: These companies only benefit themselves and are ripoffs.

These kinds of companies are usually scattered among poor neighborhoods because wealthy people don’t buy into their scams. These businesses allow people to take home items today after they’ve signed a written contract agreeing to pay a monthly amount on it. Read more

Why Some Budgets Don’t Work

August 12, 2019August 15, 2019 - Ariel Shanelle Leave a comment

Having a budget in your life is a great way to ensure you’re making the most out of the income you worked so hard to earn. There are many people who live by budgeting and can attest that they work.

Nevertheless, there will always be reasons why a budget may fall apart. Everyone is different, thereby making all the reasons different. However, the following reasons have made many budgets fall apart and left the owner wondering, “Why don’t budgets work?”

Your budget is too complicated.

When budgeting, you want to make sure every dollar gets an assignment. That means every dollar you earn should have a place you’ve designed it to go.

That being said, you don’t need to go into too much detail. For example, when I write my budget I label a portion for “food”. I don’t label a portion for the bread, rice, and spaghetti. That would overcomplicate it and eat too much of my time. Read more

6 Benefits Of Budgeting

July 27, 2019August 23, 2019 - Ariel Shanelle Leave a comment

Budgeting. This simple word can cause many people to tense up and dread the following conversation. However, there are many benefits of budgeting every dollar each month.

Personally, I’ve found that having a budget in place gives me peace of mind and eliminates money quarrels within my family.

Since there are many people out there who may dislike talking about budgeting, I thought I’d give a little insight on a few different benefits of budgeting.

Your bills will always be paid on time.

Paying our bills are important. So much so, that forgetting to pay a bill can cause sudden stress on an individual. Read more

Why You Need An Emergency Fund

April 13, 2019August 15, 2019 - Ariel Shanelle Leave a comment

75% of Americans live paycheck to paycheck.

Are you living paycheck to paycheck? According to the statement above, 7 in every 10 houses in your neighborhood is one emergency away from a crisis. That’s a huge deal! Many families are torn apart because of financial troubles and I refuse to allow that you happen to you! That’s why you need an emergency fund.

Q: What is an emergency fund?

A: An emergency fund is money that can be accessed quickly in case of an emergency.

Before we continue, take a look at the following statistics for Americans:

71% do not have enough money on hand to cover 6 month’s living expenses.
46% do not pay their bills on time.
48% spend as much as they make or more each month.
12% do not contribute monthly to a savings account or any type of retirement account.
11% have credit card debt in excess of $5,000.
12% have student loan debt in excess of $20,000.
The average American doesn’t have more than $400 in savings. [1]

If the average American doesn’t have more than $400 in savings and 75% are living paycheck to paycheck, what happens when an emergency happens? Consider the following scenarios: Read more

What Is A Budget?

October 14, 2018May 23, 2019 - Ariel Shanelle 4 Comments

Growing up, I had no one to teach me how to succeed at finances. I learned how to win with money after I already had a family to feed. A budget was not in my vocabulary nor did I ever hear anyone around me speaking about one.

My family never had any sort of savings. I had no idea what a budget was and how empowering it can be to have one set in place. I’ll be the first in my family to save money, get out of debt, invest money, and become financially free. I’m not there yet, but it all starts in one place: the budget.

(This post may contain affiliate links. If you make a purchase through one of my links, I’ll receive commission at no extra cost to you. Thank you so much! Read our full disclaimer here.)

My husband was spectacle at first, but now he loves having a budget set in place. We know all our bills are covered and we have money to spend on ourselves. I feel at peace in our financial life and we agree on every decision together.

What Is A Budget?

A budget is a written plan that describes what you’re going to spend your money on. If you don’t have a plan, dollars will fly out of your hand into the hands of someone who does have a plan. Winning with money doesn’t happen by accident. This is one of those things that you’re going to have to be intentional about if you want to succeed. Read more

Habits of Poor People That Keep Them Trapped In Poverty

October 2, 2018May 23, 2019 - Ariel Shanelle 7 Comments

Habits of Poor People

Have you ever wondered why the rich get richer and the poor become poorer? You may be shocked to find out the habits of poor people are extremely different than those of the wealthy. They view life in opposite manners and use their time differently.

After creating habits of wealthy people, I decided that it wasn’t enough. It’s not enough to tell people what to do if they want to be successful, but also what actions to let go. The habits below will keep you locked in poverty.

(This post may contain affiliate links. If you make a purchase through one of my links, I’ll receive a commission at no extra cost to you. Thank you so much! Read our full disclaimer here.)

What Is Considered Poor?

Poor isn’t always a financial term. Poor is a state of mind that traps you in poverty no matter how much money you have. The word poor can be used to describe someone who doesn’t take care of their health, neglects their family, treats others horribly, and so much more. This is why every year many ‘wealthy’ people commit suicide. Also, that’s why you hear stories of people who win the lottery and end up broke a few years later.

On the other hand, a person who lives in poverty can feel like the wealthiest individual on earth. If you’ve ever been in love, you know it doesn’t matter how many material items you possess. You receive a feeling of completion while your lover is beside you. By being loved, you’ve reached a level of wealth many people only dream of. Keep that in mind as we go through this list. Read more

5 Ways To Save Money On Your Electric Bill Right Now

March 19, 2018May 23, 2019 - Ariel Shanelle 1 Comment

5 Ways To Save Money On Your Electric Bill Right Now

In modern America, the cost of living can be very high depending on where you live. I want to help you save money in every way possible. This includes your electric bill. With a large family, it’s extremely easy to be shocked when you open your electric bill. That letter can cause dread and stress in some people. Fortunately, there are some ways to lower your monthly bill so you can spend your money on things that really matter.

(This post may contain affiliate links. If you make a purchase through one of my links, I’ll receive a commission at no extra cost to you. Thank you so much! Read our full disclaimer here.)

1. Turn Off Your Extension Cords When They’re Not In Use

Whenever something is plugged in, it keeps eating electricity until the flow is stopped. The good news is most extension cords have a button that you can easily switch on or off. This is the most simple way. However, if it doesn’t have the switch you can always just unplug them from the wall. This is good because most of the time we have a bunch of stuff plugged in at once resulting in more electricity being eaten. Cut that flow off and save your money!

2. Unplug Everything!

Except for your fridge. You don’t want to do that. I thought I would add this in here because it doesn’t just apply to extension cords. Everything eats electric when plugged in. Don’t believe me? Is your TV off? If it is, look at it. See that red light? That’s the standby light. That light is on to tell you that the TV is off. Pretty ridiculous right? Your TV eats electricity when it’s off just to tell you that it’s off. LAME!