HOW RISKY ARE YOU: TO QUIT OR NOT QUIT YOUR JOB

Since the pandemic many have had an awakening of becoming their own boss versus working the current job they have. They had an epiphany about what they missed out on, financial freedom, flexibility, and being appreciated. However, depending on who you ask there may or may not be a right or wrong way to go about it.

The Risk Taker

First you have those that says I’m going to bet on myself. I’m tired of working a 9-5. I want to be my own boss. They want the flexibility to work or create when they are most effective. The risk taker also is someone who has many ideas, creative, and very social. They have much confidence in themselves and says I’m going to win no matter what. The risk taker says if you have a plan B, then you aren’t putting all your efforts into Plan A. So of course you’re going to have to rely on Plan B one day. FINANCIAL MINDSET: WHICH ONE ARE YOU?

As Steve Harvey once said, “If my plan A doesn’t work then I’ll create another plan A.”

There isn’t a certain time to be stable to branch out on your own. Anything can happen. The more you try to work and save until you have enough, the longer you’re prolonging your dream and happiness. The comfort will always have you pushing back the deadline to begin your own.

The risk taker may also feel the company can shut down at any moment. They can lay you off without warning. Cut positions, hours, and benefits. Then where will that lead you.

The Cautious One

Next, we have those that says I have a family and bills. What about insurance. What if something happens. They are used to that guaranteed amount and needs that security “just in case.” It’s best to save at least six months, some say, before quitting your job. You need to make sure you’re financially secure and the family is stable while pursuing your dream. It’s all about security and comfort.

So do you quit your job and bet on yourself? Or keep that stable job until you feel you’re ready to stand on your own. Either way there are pros and cons to each. Depending on your life, lifestyle, circumstances, financial status, and many other factors. They both have the same end goal. To be financially free and to have something to pass down to their children. Doing what they love. Having fun. At some point working minimum hours while receiving maximum profit.

I’m a believer in your job or career should fit into your life not your life fitting into your job.

Which mindset are you? Quit or not?

RosalynLynn

Be you so you can be free.

YOU HAVE EVERYTHING YOU NEED TO START A SIDE HUSTLE

Within the last year and half the idea of a ”side hustle” has really been pushed. There is so much advice, tips, and tricks on how to begin a side hustle that could make one overwhelmed. The one thing that you need to know if you want to create a side hustle is that you have everything you need to begin.

Most of the time people side hustles are what they are passionate about or some hobby that they enjoy. Well you can do that with what’s in your home. Whatever you are good at you can begin to create and sell. You have everything you need to start a side hustle and let the money work for you.

To begin with the obvious, many want to start their own Youtube channel. Well you can. You have a phone and it records. So you have what you need to begin. You have a story to tell that inspires someone. There is also a gift in you that is ready to come out. I know there are many who started their Youtube channel just using their phone. You don’t need to spend money on equipment to begin. That will come when it’s time.

The next is to start a blog. Once again you have a phone or IPAD, then you can begin to create your own story on the web. We have to get out of our head that we need all the bells and whistles to begin. When in actuality, if we had the bells and whistles we wouldn’t know how to use them correctly. Yes, there are some who started their blog on their phone or whatever device they had handy. By the way, your story is what’s going to capture your audience. You already have everything you need.

Next, side hustle you can do because you have everything is retail reselling or selling what you no longer use or need. There are many platforms and apps you can download on your phone that you already have, to begin selling items in your home and closet that you no longer use. Go through your home and pull everything that you haven’t worn or used in a year. I guarantee you, you will generate additional income. Your phone allows you to download the app, take photos, edit the photos, upload photos, create the listing, and sell the listing.

If you are good at baking or cooking, you can use your phone to market yourself on several apps you already use to cater events. Begin locally and let it grow. You have everything you need to create a free website to sell whatever goods or services you are good at. Self Care: Hobbies and Activities After all, we all have something we are good at.

There are so many other ”side hustles” that you can do to generate additional income with what you have. I know you’ve seen many articles and other content on side hustle ideas. You have everthing you need to begin. We all have something that we are passionate about. Furthermore, we all have a hobby that we love doing.

Using your talents and gifts that reside in you already, allows you to begin any side hustle you desire. If you’re good at organization, creating travel plans, planning, transcribing, writing, or many other ideas you can begin now. Use what you have to begin. Please don’t make the mistake of thinking you have time. On the other hand, thinking you need money and resources to begin. Build yourself up and you’ll enjoy the process.

P.S. This is not a post to tell you you should start a side hustle, its for those you’ve been thinking about it. They are waiting for the right time, or when they get the money to begin.

RosalynLynn

Be you so you can be free.

#7 TIPS OF FINANCIAL ADVICE TO MY YOUNGER SELF

When we’re younger we have no idea about money, finances, budgeting, and credit. The one thing we may hear is to avoid credit cards, don’t borrow money, or save. Some may have never learned the importance of having a relationship with money and finances. Here is some financial advice to my younger self.

You need to develop a relationship with money. Not just going to work, making a paycheck, and paying your bills and debt. But know how to budget, track, and invest money. Handle Your Business…Get Your Finances Together Educate yourself on different kinds of accounts and investments. Know what you want to earn and learn about money. Have a goal in mind.
Money or financial mistakes are easy to make but hard to recover from. When we make a unplanned purchase, moving, or purchasing a new vehicle it seems like its the right thing to do at the time. Especially if it was something that was done on a whim. However, when you find yourself in a financial bind, most often you have to look 6 months to a year prior on what you had done. Our set backs doesn’t happen right when we make the purchase but it catches up with us.
Piggy backing off of advice tip #2, plan out your large purchases or life changing obstacles if you can. Prepare for expenses after a move or purchasing a new vehicle. It’s difficult to prepare for the unknown when we make such life changing decisions. But, with preparations, budgeting, planning, and saving it can be done economically.
Track your spending habits. Know what you are bringing in at all times. Also know what’s coming out at all times. Be mindful of budgets in all areas of your life. Be able to answer not only bill expenses, but grocery, personal items, entertainment, and any other expense that you have. Depending on your lifestyle and income you can track how often needed to, to keep up. Not to mention we have many tools available to us now to keep up with our finances.
Live below your means. Just because you have it doesn’t mean that you should spend it. Don’t live so tightly that you aren’t able to handle an emergency.
If managed right, credit cards can be a good thing. Learn how to use a credit card to establish credit and payment history.
Live your own lifestyle. Don’t try to keep up with everyone else and what they are doing or buying. Notes I Would Give To My Younger Self

These were just a few financial tips I would tell my younger self. Actually, this is the same tips I gave to my nieces who are entering adulthood. Your financial goals and relationship with money is something that is personal to you. Just like with anything else you are going to make mistakes, just seek the knowledge and advice needed to help you.

RosalynLynn

Be you so you can be free.

Money Jar Saving Method for easy saving

I grew up on the money jar saving method and didn’t even know it. For example, as a little girl my father would have this huge glass jar filled with coins. When the jar became full, he would take it to the bank, cash it in, and make a deposit. My aunt also had a money jar, that she kept on the corner table filled with coins, and that’s what we used as our daily bus fare.

It’s ironic that in the last couple of years, I too, have adopted the save money method using jars. Right now we keep an old peanut jar on the kitchen counter for our daily lose change.

What is a money jar? Welp, its a money management system used to save, budget, plan, and be financially responsible. It’s the act of using mason jars or any kind of jar to place a certain dollar amount in daily, weekly, or monthly to reach a certain finacnial goal. This is a great system for those who have trouble saving or poor spending habits. The money jar system can be used to save for something specific or rainy day.Handle Your Business…Get Your Finances Together

Go to your kitchen cabinet and grab a glass that you aren’t using and put a dollar in it. Do this every Monday, or whatever day you choose. If you have more to spare in your budget then start with $5 or whatever you can afford. The best thing about this system is that you can start as little as your budget allows. This is the quickest and easiest way to save money especially if you’re on a budget or just going through a rough time right now.

Having a money jar or jars in the home are a great way to physically see your savings. Yes, we have saving accounts, but the physical action of taking money out of your wallet, and watching that jar fill, encourages you mentally and emotionally. You see the progress which encourages you to save more and spend less.

Also, I don’t know about you, but we’ve become so used to swiping our debit or credit card. How many times have you said you weren’t going to spend any money, and before you know it, your account balance has dropped. It’s very easy to swipe, and guys those small amounts add up.

You begin to know the importance of spending less, being grateful for what you have, and the desire of having “stuff” isn’t as fulfilling anymore. You become more comfortable in living without certain “things” and notice the amount of frivolous spending that may occur.

The insight on “what did I spend my money on” becomes clear. How many times do you look and say where did I spend all that money? What did I buy? I’ve done it plenty of times walking out the store, and saying “it doesn’t look like I have a cart of stuff worth a $100”. How many times have you guys said that?

You can have as many money saving jars as you think you need or want. To begin the process, figure out what you want to save for and how many jars you need. We have 3 children so January 1, we get a jar and label it Christmas. Next, we like to pay our car insurance in full so we have one labeled car insurance. Thirdly, we have one that literally say “rainy day”. Finally we each have one for something we are saving for personally to us.

Next, label each jar. You can create labels, color code them, or purchase some labels . Then figure out a place in your home of where you’d like to place it. You can opt to keep it visual or in a spot to where it’s out of sight.

You can use the money jar saving method for a house down payment , purchasing a new car, tuition, vacation, or whatever you desire. If you don’t have the finances or desire to purchase a set of mason jars, then you can literally get some glasses and place the money in there.

This process is completely personal to you. You can get as creative as you like. Actually the more creative you are the better.

Mentally you will be encouraged to save as you see it grow, you gain confidence in knowing you’re taking responsibility, and knowing you are pursuing your goals actively. Emotionally you become more aware and conscious of your actions. It makes you question priorities, needs, and wants. Financially you have taken responsibility , being more aware of your spending, and taking control of your life.

Initially, I was like so many people in thinking that’s what I have a savings account for. But since I’ve began using the money jar saving method weekly, I’m more encouraged to save, excited about the possibilities and opportunities the savings will allow me, and motivated to continuously be more financially responsible and aware.

One of our biggest motivations is to know that we have something saved not just for our family but if someone we love who is need we can provide a little financial assistance to them in their time of need.

Most of the time one of the biggest reasons we begin to feel hopeless or in despair it’s due to a financial set back that we didn’t expect. Having a financial set back tends to send every other area in our life into a pit. The best way to set ourselves up for success is to begin to save no matter what our income level is and using the money jar system is a great way to start. I encourage anyone to try the money jar saving method. Make a commitment, start small, and work on your finances this year.

RosalynLynn

Be you so you can be free.