A tithe is ten parts of something, usually referring to the voluntary payment of 10% of your income to a religious organization. This was a way to contribute without feeling the damage and was also an extremely profitable program for the Church.
We are only one person, and this ten percent will not make you rich today but if you have problems saving like I do, this may be a great way to start! I never feel like what I save is enough, and that’s the problem. Anything you save is better than nothing so start slow by enforcing a ‘Personal Tithe’.
Take 10% of any monies coming in and PUT.IT.AWAY! Put it in an untouchable bank account or in a porcelain piggy bank that has to be broken to open.
The idea of saving a good chunk of change can feel extremely overwhelming and have you thinking that it’s nearly impossible. When you set such a big goal, it seems as though your five dollars here and twenty dollars there will never add up to your ultimate goal.
In the six days after the earthquake demolished the capital of Haiti, the world came together and contributed what they could. Whether it was $5 from a simple text message or paying $10 entrance to a local fundraiser, no amount was too small and just six days after the earthquake hit, $210 million was raised. This really put things in perspective for me when thinking about saving money. We may feel as though saving $5 is pointless, but in reality, it’s the easiest way to save without feeling like you’ve had to drastically change your lifestyle.
I am going to start saving my $5 bills whenever I can and see how much I end up with. I encourage you to do the same. You never know when you’ll need some extra cash!
The other day while I was at work, a girl came in for a tan and asked how long it would take to walk to her next destination from where we were. I told her it would take about 20 minutes and asked why she didn’t consider taking the streetcar. As she entered her pin to the $20 tanning transaction, she said “I’m trying to save money so I’d prefer to walk”.
HUH?
Tan: $20
TTC: $2.75
Taking the streetcar instead of walking 20 minutes in -35 degree weather: WORTH EVERY PENNY!!
It’s funny how we all spend our money. I’ll splurge on the silliest things and then complain about spending $20 on a spinning class that’s an investment to my health.
What do you insist on buying and what do you refuse to spend your money on?
There are a number of things that I learned during the countless hours I dedicated to watching Sex and the City.Boys come and go (and come and go and come and go) but good friendships can last forever. Fashion is totally about an individual expression rather than about following trend. You can never have enough pairs of shoes…. But the one thing that stuck with me the most, is that money and friendship are two things that just don’t go together.Remember the episode that Carrie needed money for her place and Charlotte was the only one not to offer assistance even though she was the one most able to?Charlotte’s simple explanation was that growing up she was taught the downfalls of lending money to friends.That money and friendship are two things that don’t match.In the end Charlotte gave Carrie her engagement ring to pawn for the money she needed as a sort of gift rather than a loan.
Money is a complicated thing and can get even trickier when emotions and relationships are involved.Most of the time when I lend money to friends I see it as a write off.When I’ve made the conscious effort to part with money I pretend it’s gone and I’m ok with it.But I must admit there have been a few moments in my life that I have put something on my credit card for someone or have lent a significant amount of money assuming that I would get it back and it was never spoken of again. Although I must be clear that it is near impossible for me to ask about its status…
When you lend money to friends both parties get put into extremely awkward and difficult positions.The person who borrowed the money feels ashamed and probably doesn’t want to be seen doing social things –things that cost money- around the lender.Alternatively, the lender can’t help but feel annoyed when the borrower shows up at a work party wearing a new outfit.
The looming loan puts a terrible (most times unspoken) wedge between the two parties that I think would be best if avoided all together.At first I thought Charlotte was a little cold hearted to not be the first to give up the dough to her friend in need, but when I thought about it more it began to make more and more sense.If you’re the kind of person that can’t financially justify parting with the money for good, don’t.Even if you’re super generous heart tells you to.And, if you’re the kind of person who can afford to (and really want too) then feel free to part with the money, but only when you’ve come to grips with the idea that there is a great chance you will never get it back.I’ve seen a number of amazing friendships between girlfriends and guyfriends break up because someone borrowed money from someone else and didn’t pay it back.Friendships are difficult enough without adding the most stressful part of most of our lives- money, into the situation.
Have you ever gotten into a sticky situation with a friend over money? I want to know! Leave me a comment.
In our youth, anything is possible and that’s the beauty of being young. As you get older, you acquire more responsibilities and sometimes they seem like such huge road blocks on the path to success. As they say, channel your inner child and go back to the basics!
Wise words from my sista love
GOALS
When was the last time you WROTE down your wildest and craziest dreams? I know it’s been a while for me. I seemed to have achieved most of my goals at a very young age but I guess I just forgot to establish my new goals as I got older. Ask yourself these questions and if you don’t know the answer immediately, start working on answering them:
1. Where you are today? Assess your current financial and life situations.
2. Where do you want to be? This is where you would write down short term and long term goals and NOT in your blackberry or on your computer. Physically take a pen to a blank sheet of paper and start writing. (I think it’s more effective!)
3. How are you going to get there? Do you need another job? Maybe you need to take a step back to take 2 steps forward. Re-evaluate your expenses and your income and make an action plan on how to get to where you want to be.
RECEIPTS
In this day and age, many people have side jobs and side businesses that may give you tax benefits. Get a little receipt organizer and everyday, unload your receipts in categories or sections like CLOTHES, FOOD, DINING OUT, ELECTRONICS, TRANSPORTATION, BEAUTY, MONTHLY EXPENSES etc. You never know if the taxman will tell you that you’re able to get a portion of applicable expenses back!
DE-STRESS BY:
-Saving enough money to cover 3 months of living expenses and pretend it’s not there!
-’Diversifying your portfolio’: Regardless of how you choose to do this, having different means of income can really save you if one isn’t as profitable throughout the month.
The main problem I have with investments is understanding what they all really mean. It’s like this unknown world of worth and what the world perceives as valuable and in this economic state, we’ve seen companies and people lose in an industry that to me, seems like a gamble. I much rather have something concrete to show for as an investment and concrete is literally what I’m talking about: Real estate. I just read an article that gave a very clear foreshadow of what is to come and I want to share it with you to help you better understand a level of wealth that is attainable with a little bit of patience.
Remember that age-old advice – buy low, sell high? Well that’s exactly what you’ll be able to achieve when you purchase a property in the pre-construction stage, and because of the economic situation, right now is the, “single best buyer’s opportunity of our lifetimes”, according to the author of ”The Road To Millions” exclusive to clients of Brad J. Lamb Realty Inc.
Examples:
Garment Factory: Built
Worklofts/FlatIron Lofts: Pre-Construction
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Abbey Lane Lofts: Built
The King East: Pre-Construction
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These days, everyone wants instant gratification and desire to have what they want NOW. Four years ago I said, why buy a condo that I can’t move into for 3years? Four years later, I still don’t own a property. Time flies, and the profits you can make off of taking your time and easing into it with a small first time investment property or a short term live-in property for yourself, could help lead to your dream condo or house.
Things to think about:
1. Time flies
2. You could end up rich
3. Short term pain for long term gain
What are your thoughts, concerns, questions? What scares you or discourages you from investing? Is it the unknown, the money, the commitment?
Leave a comment and let us know!
Click below to read another article about buying your first place:
