December 18, 2022 • 41 mins
Your Host: Shyra DeJuan (ShyTheHealer)
Creating a Healthy Relationship with money, we learn how our emotions are connected to how we spend money. Humans have an emotional response to money. Beliefs you have about money & behavior are in your subconscious mind.
Have you ever overspent and then question why you did it? You actually get a little upset with yourself when you realize how much you overspent. Well, it’s actually a psychological pattern of behavior.
We see this with Keeping up with the Jones effect: which means you’re purchasing things you can’t really afford to keep up with others. Or to satisfy some emotional need. Your thought pattern tells you “if everyone sees I purchased this item, they will believe I can afford it. You feel comfort for others' perception of you. But then later have to deal with your own financial stress when the reality sets in that you really can’t afford it. By then, it’s too late.
This behavior shows up in people that grew up poor or just grew up feeling deprived of what others consider “the nice & finer things”
I’m bringing awareness so that you are now conscious of why you continue your cycle of financial problems.
In this episode you will elevate your mind and be open to understanding how to create a healthy relationship with money AND create a budget using the interactive budget worksheet link below! For 2023 do a savings goal budget challenge with your friends and family! We are champions! We heal together! We win together!
Donate & Support Shyra DeJuan’s Podcast
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Basic Financial Literacy Slideshow Presentation Link
https://docs.google.com/presentation/d/13RtTQ2m2FaQRw1u_qEVlWdt4oljjVk3XKjcgr8DDG1k/edit?usp=sharing
Basic Budget Worksheet Link
https://docs.google.com/document/d/17dvtM0o6szTaVolXAs1dJXYkA_aqagqkcaUOrCzMTbo/edit?usp=sharing
Get Good with Money: Ten Simple Steps to Becoming Financially Whole
Click link for book
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:04):
All smiles champions.
Welcome to mine.
Elevation health and wealth.
My name is Dhawan.
I'm an emotional healer,educator and entrepreneur.
Each week, we will dig deep intoemotionally healing, all aspects
of your life to increase yourability to create prosperity
mind, elevation health andwealth allows you to elevate and
(00:26):
shift into a growth mindset.
Share each moment with me, I'mgiving you permission to fulfill
all of the unique desires ofyour heart judgment free
shame-free guilt-free elementsto heal your mind and body as
you listen and consume the wordsof the session with no fear.
Fear of loss champions if weheal together we'll be real
(00:47):
together Embrace unconditionallove and keep listening healing
is health health is wealth youare here on purpose Session for
creating a positive relationshipwith money.
Listen and listen well,champions, whether you get peace
(01:10):
from God.
Piece from the universe or peacewithin self creating a positive
relationship with money willallow you to elevate your
current mindset and beliefsabout your ability to heal from
past traumatic financialexperiences.
Actively practicing what youlearn in this podcast today will
(01:30):
increase long-term wealth foryou and your family.
I've decided to be extremelytransparent in this session
today.
Financial stability can changeimmediately from one life
changing experience.
It is my duty to reveal my ownfinancial hardships, financial
traumatic flashpoints, andlife-changing circumstances that
(01:52):
have impacted the financialdiscipline that I'll be sharing
with you today.
I'm not stating that I'mperfect.
I'm not saying that I've doneeverything right.
Or that I'm doing everythingright.
But I am telling you that Ipractice having a healthy
relationship with money.
Here's my saving story.
I started my habit of saving ata very young age.
(02:15):
It started with saving quartersand a little quarter slot holder
from my hometown local bankcalled old national bank in
Evansville, Indiana.
Which I eventually ended upworking there as my first
full-time job.
In fact, working there alsohelped me understand how people
with real money save and invest.
(02:35):
The bank had a program forchildren called kids bank
savings.
The bank would give children asmall booklet with small little
quarter slacks.
Once the slots were all filledup, you take it to the bank and
deposit into your kid's banksavings account.
I love challenges.
So I'm picking up everywhere.
(02:56):
I see change.
If I see coins laying around.
I'm taking it are.
Convert them into whole quartersso that I can fill up my quarter
booklet and stick it in a littlequarter slot.
Still to this day, when I seecoins and change on the ground.
I pick it up and I say, this haschanged.
You can believe in.
I still collect coins.
(03:16):
And if you want to collectsomething genuinely valuable
collect coins.
Needless to say, I created mysavings mindset at an extremely
young age.
I also had a small littlepersonal bank at home in my
bedroom.
And because I got robbed.
A couple of times by mysiblings.
I had to purchase a bank with acombination lock on it.
(03:39):
One of the cute littlecombination locks.
Then my siblings would have toask to borrow money.
And at that age, I only loanedmoney.
If they paid me back withinterest.
Now I carried that into myadulthood.
If I ever borrowed money from afamily member or a friend, I
actually pay them back withinterest.
(03:59):
Now I haven't had to do thisoften.
borrow the money, but there weretimes when I had to put my pride
aside and borrow funds.
My obsession was saving.
Money was so extreme.
My daddy would say you so tight.
You squeak when you walk, to behonest at the time, I didn't
really understand what thatquote meant.
I just knew that since my daddysaid it, it was funny because
(04:20):
people wouldn't laugh.
But I knew it meant somethingabout me saving money and being
frugal.
For example.
If he sent me to the gasstation.
I had to go into the gas stationto pay for the gas.
I would keep his change and Iwould save it.
He would never ask for thechange back when he sent me to
pay for the gas, he knew myhabits already.
(04:43):
Also when we would go to finddine at a restaurant servers.
If you're listening, I want toapologize in advance.
I was a child.
I didn't know any better.
Anyways, we will go to a Chineserestaurant, downtown Evansville
Ka-shing leap for years.
My family did not understand whythe server would give us such
poor service when we would dinethere, but the food was so
(05:05):
amazing.
We would always go back well.
I later had to confess to myfamily that I would wait to be
the last one out of therestaurant so I could take the
tip and still the tip from thetable.
I knew the money was for theserver, but I didn't realize at
the time they were making littlewages and survived off the tips,
I was just as child.
(05:26):
Trying to find ways to increasemy savings account.
Later in life.
My savings habits have saved mein many financial hardships,
which is why I'm stressing theimportance of creating the habit
of saving your money at creatinga budget by any means necessary.
Now, the next story is mytraumatic financial flashpoint
(05:47):
story.
Going up, we were on publicassistance.
We received food stamps and backthen food stamps were colorful
paper coupons.
For my younger audience.
We didn't have an EBT debit cardthat looked like a credit card.
We had to go to the registerwith the colorful paper bill.
So everyone in the store knewyou were on food stamps and
(06:09):
poor.
This was embarrassing to me.
So there were times I wouldwait.
Around this door until the storewas kind of empty before I would
go check out.
So I wouldn't be seen with thefood stamps.
But I did love breaking thedollar food stamps cause they
would give you back real change.
So that's a whole nother story.
(06:29):
But anyways.
I was embarrassed.
when I was in high school backthen there was a free lunch line
in the cafeteria.
That was also the law forstudents that have money.
So my freshman year of highschool, I didn't eat lunch
almost that whole year because Ididn't want people to see me in
a free lunch line.
I was ashamed and embarrassedabout being poor.
(06:52):
That was only my freshman yearthough.
Eventually I took advantage ofthe free lunch things to my
frugality.
I began to embrace anything thatwas free.
When I got my first part-timejob at the donut bag bakery, a
small family owned bakery inEvansville.
My mother made me quit runningtrack to pick up more hours at
the bakery because she said theynot paying you to run around
(07:14):
that track.
These were traumatic flashpoints from me.
I was so hurt that I had to giveup a sport.
I love to help my mother paybills.
I was born into poverty.
So I knew in these moments thatI wanted to live a life of
financial stability in myfuture.
Here's my financial hardshipstory.
(07:34):
I was actually doing financiallywell when I had actually
purchased my first home.
At age 22, I had a nice, prettynice vehicle.
I was working, making a decentsalary.
I was also a part-time student,but I was not happy in my career
choice.
I decided to put myself intofinancial, situational poverty
(07:57):
to pursue my dream job.
I decided to step out on faithand quit my full-time job at the
local utility company inEvansville.
Back then it was called veteran.
Now it's center point.
Based in Houston.
Go figure.
I live in Houston now.
I wanted to become an educator.
And I knew that my dreams werebigger than sitting at a desk,
(08:18):
helping to generate billions ofdollars for a company that hired
uneducated supervisors thatlowered my self-esteem and
affected my psychologicalfortitude with micro
aggressions.
Like.
I like it better when you wearyour hair straight.
What do you guys call thosethings in your hair?
(08:38):
Their braids.
We paid an Islander to put abraid in my daughter's hair.
When we went on vacation, such amakeup.
Or the most famous can I touchyour hair?
All these dehumanizing commentsthat I had to go through.
They also have ways of trying tomake me feel inferior.
(08:59):
I knew when I started my ownmentor group pals, pure
attractive ladies that Godwanted me to be an educator for
teens.
He had worked for me to do so in2009, during the recession, I
quit my full-time job and wentfrom a part-time student to a
full-time student.
To start my teaching career.
(09:21):
I self chose situationalpoverty.
My mother called me stupid formaking this decision.
But my father and my grandmotherbelieved in me.
My daddy said, I trust you thatif you making this decision on,
oh, you know what you're doing?
I had people that believed in mydream and supported me through
the process.
So having support makes a bigdifference.
(09:44):
However.
This is where the benefits of mysavings account comes into play.
I manage a budget based aroundmy savings.
I increase my, clients with mylegal side hustle of doing hair.
And I worked part-time as amentor at the YMC.
And then also as an afterschoolinstructor for Evansville
(10:05):
Vanderburgh school corporation.
I also needed to get thatteaching experience.
So even then there was stillsome hardships.
My loyal pickup truck named dodirt.
Almost got repossessed.
Thank God for garages.
Cause I hit my truck in thegarage and so I could catch up
on the payments.
But then I also had to apply forfood stamps and I got denied the
(10:25):
first time because of my assets.
They try to take your assets ifyou have them.
So that's just the way thesystem is designed for.
Poor people to stay poor and forus to fail.
But.
That'll be a whole notherpodcast episode to cover that.
But anyway, God provided and Isurvived the hardships and was
able to keep my truck and ableto keep my home.
(10:47):
Out of foreclosure.
And that was thanks to the Obamahome loan modification program.
God keeps his promises.
Y'all.
I relocated to Houston with nojob.
My sister relocated with me andshe had a job.
So she allowed my son and I tostay with her for six months.
I'm so grateful for that,because that also helped me
along my journey.
(11:08):
I was doing volunteer work for asmall stipend, had my little
small child support check, and Iactually borrowed money from a
whole life insurance policy topay my first month rent and
deposit.
Keep that in mind, I had a wholelife insurance policy.
Okay.
We got a one bedroom apartmentin Greenspoint.
(11:29):
Which most people in Houstoncall Gus point, but that's,
that's the hood.
We represent an H town.
North side.
We went about a week with noelectricity because I only had
enough money to pay the rent,but I started my first teaching
job at a small charter schoolcalled Richard Milburn academy
RMA.
(11:51):
When I got my first check, Ipaid the electricity bill during
this whole hardship.
I was very transparent with myson, Andre.
He knew that while I was chasingmy dream, we had the sacrifice.
He knew where and how the moneywas being spent.
He knew how and why it was stillimportant for us to sacrifice
some things for us to save forour future Texas home.
(12:14):
Now, if you think I'm tight withmy money and frugal with my
money, my son is on a wholenother level of tightness with
his money.
I modeled the behavior.
And of course we are role modelsfor our children.
Our children admire us.
See us copy.
And repeat us.
Let's say that again.
Our children.
(12:35):
At Meijer us, see us copy andrepeat us.
So remember everything that youdo, every behavior that you
show, they can either copy youor rebel from you.
But studies show, they are mostlikely to copy you.
This is the importance ofcreating a healthy relationship
with money.
(12:55):
As a new family practice.
Now let's begin.
We will start with youremotional beliefs about money.
This is considered your moneymindset.
Here's a list of some of thebeliefs.
Some of us may hold.
We may believe that only peoplethat are rich can save and
(13:16):
invest money.
Poor people can't save.
The truth is anyone can savemoney.
Number two.
We may believe that people thathave and own expensive things
have more money with status.
The truth is most people thatare flashy, especially on social
media are not wealthy.
It's usually a front or they'regetting paid as influencers.
(13:38):
Number three.
We may believe it's fine to livepaycheck to paycheck because we
feel like we've been doing okay.
And we still have nice things.
Truth is if you're livingpaycheck to paycheck, you are
one financial hardship away froma deep financial setback.
(13:58):
We may believe number four, wemay believe that being rich and
wealthy.
Are the same thing.
Shoot is being rich is temporaryand can be gone as quick as you
receive it.
And being wealthy is lifelongfinancial stability for
generations.
If you can't manage your moneybroke, you definitely can't
(14:20):
manage your money.
Rich.
We see this.
When people win the lottery,they get rich quick and they go
broke even quicker.
Now that we have tackled some ofthose mindset myths.
We have to understand that thesebeliefs actually shape our
financial behavior.
Now let's address some traumaticfinancial flashpoints in your
(14:42):
life or may have happened in ourlives.
Traumatic flashpoints arenegative situations that may
have happened to you and, oryour family during hardships and
struggles.
I listed some of mine earlier.
Here are some more.
One being evicted from your homeor having a home foreclosure,
which may cause homelessness,number two, having cars or
(15:05):
furniture, repossess, numberthree, constant family fights,
verbal or physical fights aboutmoney problems, divorces due to
money problems.
Number four, being forced togive up a membership to
activities or trainings or notbeing able to afford.
Competitive sports trainings,gymnastics, dance, or other
trainings needed to reachprofessional Heights.
(15:27):
Number five, going without basicsurvival items and needs such as
food.
clean and decent clothes,toiletries or personal items.
I'm sure there are sometraumatic flash points,
traumatic financial flashpointsthat you were thinking about in
your life.
We have all heard,, stories fromour parents or grandparents
(15:48):
about their financial strugglesand how we should be grateful
because we have more than theyhad.
they didn't have food, had toeat a spoon of peanut butter for
dinner, yada, yada, yada, thestruggles have and were real
because of those traumaticflashpoints.
We live in survival modeconstantly.
Now.
(16:08):
I know how to survive inhardships.
I hustled did something strangefor some change.
I've Rob Peter to pay Paul.
I've done it all.
Once again.
I'm transparent with you.
I'm not perfect.
Now it's time for us to createthis healthy relationship with
money.
But understanding some commonmoney problems that directly
(16:29):
affect our income levels.
We will discuss six majorcommon, unhealthy money
situations.
One.
Get rich, quick schemes, Ponzi,schemes, and scamming.
Please don't fall for the DMmessages from your Instagram or
Facebook friends.
This is a form of fraud wherepeople will trick you into
believing that if you give them$50 or more, you'll get triple
(16:53):
return on your investment.
So if you see them flashing abunch of money on our social
media pages do not fall for it.
You can get a faster return onyour money by investing in a
high interest savings account,because they're going to take
your money and never return.
Two.
Buying or financing materialthings you can't afford, you
should not have.
(17:15):
A$800 purse, unless you can walkaround with$600 inside of it.
That.
$32,000 car loan you gotapproved for is only worth
$10,000 when you leave the cardealership.
Getting approved for a loan doesnot mean you can afford what you
purchase affording somethingmeans you have the cash
(17:37):
available from yourdiscretionary income or the
money is in your savingsaccount.
Approved financing means you arecreating.
Unhealthy debt.
Which brings us to number three,predatory lending.
Payday loans, online cash nowloans that have money in your
(17:59):
bank account within 24 hours.
Title loans, extremely highinterest loan rates.
Have you noticed you only seepayday loan and car title, loan
stores in the hood?
We're poor people live.
They are called predatorylenders because they are the
predators and you become theirprey.
(18:20):
They will take your car title,take your car for that measly
$800 loan that you already paidthem.
$2,400 for an interest.
They are the legally.
Funded loan sharks.
Instead of getting these typesof loans, please borrow from a
family member instead and paythem interest.
(18:42):
It's not worth losing thatfight.
If you do have to get one ofthose loans, make sure you can
pay them in full by that payday.
But please avoid it.
If your credit score is fair,you can probably a pod for a
personal loan at your localcredit union for money.
For more money, with a lowerinterest rate than a predatory
(19:03):
lender.
That's also a better option.
Number four.
Having excessive debt.
I'm not going to bring upstudent loans because we, we all
still waiting for the studentloan forgiveness.
Now that was another form ofpredatory lending, but I'm not
going to go into that.
Poor credit history from maxingout major credit cards, visas or
(19:24):
MasterCards, also maxing outstore credit cards like Macy's
or best buy cards or gettingsmall loans for furniture and
mattresses.
Now it ain't nothing like a good$1,500 mattress.
But the truth is you should onlyfinance these things.
If you can pay it off interestfree within six months.
You can also ask for thoseoptions, if you don't need
(19:48):
instant gratification to havethat mattress right away.
The better thing to do insteadof making payments to a finance
company, make the payments toyourself for six months, and
then just walk in the store sixmonths later and pay cash for
your mattress.
You can do the same thing with acash car, save the payments and
(20:08):
then go pay cash for the car.
You can also do this with yourfirst apartment.
Stay with someone for For six tonine months, save the monthly
rent amount and then go pay awhole nine months rent for your
new place.
You can also do that with a downpayment on your first home.
Stay with someone, save for yourdown payment and then purchase
(20:28):
your first home.
I have actually allowed peopleover the years, stay with me and
say to get their own place or topurchase their own home.
Number five.
Not paying yourself first andsaving or investing and not
having necessary insurancethat's car insurance, health
insurance, and life insurance.
(20:49):
Every person should have sometype of whole life insurance
policy.
It is an investment.
I stated earlier that I borrowedfrom my whole life insurance
when I was in a financialhardship.
They are interest free and allyou have to do is either pay it
back or they'll take it out.
If something happens to you.
(21:10):
Many of us don't know thebenefits of life insurance
policy.
So instead of paying NOLs,monthly streaming subscriptions
of stars, Netflix, HBO, max, getrid of a couple of those
subscriptions and borrowsomeone's logging information
for their streaming service andcall an insurance agent.
So set up your whole lifeinsurance policy.
(21:31):
Have this insurance paymentdeducted automatically from your
account, just like Netflix takesit, except this is an
investment, not a liability.
You can't use that as an excusethat I can't afford life
insurance.
If you can afford to binge watchP valley bridge written at
Abbott elementary.
(21:53):
By paying for streaming servicesevery month you can afford a
whole life insurance policy.
So you need to look into a wholelife insurance or a term life
insurance.
You need some type of insurancefor your family.
Young people may be wonderinghow to build your credit.
And some of you are wonderinghow to fix a credit.
You've messed up.
(22:14):
To build your credit.
If you have no credit, go to alocal credit union with$200 that
you have saved and open asecured credit card.
This will start revolving crediton your credit report.
Secure credit is actually yourown money on a credit card that
you'll use to make purchases.
The key to increase your creditscore.
(22:35):
Is this.
I do not max out max out means.
Don't use all the money yet.
The whole$200 only use about 10to 20% of it at a time.
Pay the monthly bill on time.
You can not be 30 days late onyour credit card payment because
it'll lower your score.
Then you can apply for otherforms of credit within your
(22:57):
affordability.
As discussed earlier, the goalis to work your score up to at
least six 80 to 700 creditscore.
This will take about two yearsbecause the age of your credit
history matters during these twoyears, that two year, time
period, stay on the same job andsave your money while watching
your credit score increase, youcan actually purchase your first
(23:19):
home instead of renting anapartment.
DTI debt to income ratio is alsoimportant.
So make sure that your debt.
Is under 10% of your grossincome.
And you'll see on the budgetworksheet that I've attached.
What the difference is betweenyour gross and net income?
Remember?
(23:39):
Remember this.
Key facts and young people, latepayments, lower your credit
score.
Max credit cards, lower yourcredit score, credit inquiries,
lower your credit score, moredebt than the money you make.
Can cause bankruptcy and you'llhave seven years of poor credit.
So please, please, please.
(24:00):
If you're a young listener.
Don't damage your credit.
For those of you that need tofix and repair your credit
problems.
You do not have to pay a company30 to$80 a month to repair your
credit.
You do not have to pay someoneto repair your credit.
You can repair your own credit.
Take that 30 to$80 a month thatyou were going to pay that
(24:22):
company to repair your credit.
Pull your credit report for freeonline or by using the credit
karma app.
Take and schedule a Friday offwork and do online disputes for
your debt on your credit report.
If you see something thatdoesn't look like it's yours
dispute it.
And then start making paymentsthose 30,$80 payments towards
(24:45):
your small, smallest debts untilyou slowly pay off all your
debts.
It can be done.
You just have to have thediscipline to do it.
I call your credit cardcompanies, Asper lower interest
rates.
Many of us don't know we can dothat.
You can call your credit cardcompanies and say, Hey, is it
possible for me to get a lowerinterest rate?
And then go ahead and startpaying off your lowest credit
(25:07):
card balances.
First, you can do all of this onthat day that you take off on
that Friday, you take off andthen 30 days later, your school
will have increased by about 30points.
There's a little more involvedto it, but you get the point
it's much easier than wastingmoney on one of those.
Agencies or companies that tryto get money from you to, to fix
(25:29):
your credit repair or whateveryou can repair your credit on
your own.
The main goal in creating ahealthy relationship with money
is understanding your spendinghabits by creating and being
disciplined enough to stick toyour budget.
Understanding your spinninghabits are knowing where all of
your money is being spent, whyit's being spent and how it's
(25:52):
being spent, having a realisticsavings goal and savings account
that you do not have directaccess to.
That is so important.
In fact, my direct deposit formy savings account goes into a
credit union that is far from myhouse and the credit union
closes at four and I don't havea.
(26:13):
The debit card to that account.
My checking account is notconnected to that savings
account in any way.
I cannot transfer money.
I did all of this intentionallyand on purpose because I have to
be disciplined with my savings.
Also note that the money in thisaccount is only for me.
(26:35):
It is not for a family memberthat needs to borrow money.
It is only for me.
This account is strictly andsolely for my hardships only.
Same for you.
You will not allow a familymember to borrow money from that
savings account.
That's your emergency fund.
If a family member calls you andsays, Hey, my car's about to get
(26:57):
repossessed.
I need to borrow$800 to save it.
Do not give them the money.
Keep in mind that if they're notwilling to pay the money to keep
their car on time, they'redefinitely not going to pay you
that$800 back.
I had to learn these things thehard way you will do the same
thing after you listened to thispodcast.
And do your budget using thebudget worksheet link that I put
(27:20):
in the podcast notes for you.
I'm also encouraging you toshare this podcast with your
family and have a vision boardslash budget party.
Using the worksheet I createdfor my champions for change.
We must be intentional about ourhealthy relationship with money
this new year.
Now, when I tell you that in thepast, it's been like frowned
(27:44):
upon or negative to talk aboutmoney with your friends and your
family.
However, Find an accountabilitypartner, that you felt
comfortable sharing yourfinancial situation with, and
work together on your budget.
Whether it's a close familymember or a close friend, y'all
have to hold each otheraccountable and create a savings
now.
Be careful with impulse buyingonline with Amazon.
(28:09):
And after pay and all those paylater apps.
No retail therapy spending nomore food and Dolger spending no
more inner child revengespending, no more maxing out
credit cards and definitely nomore keeping up with the
Joneses.
Hey, you.
Champion for life changes, moneysaver.
(28:33):
Budget keeper.
If you are hearing my voicetoday is a day you accept the
fact that you were created witha divine purpose to understand
how your emotions are connectedto your relationship.
With money.
Humans have emotional responsesto money.
Beliefs you have about money andbehavior are in your
subconscious mind.
(28:54):
Have you ever overspent and thenquestion why you did it.
You actually get a little upsetwith yourself.
When you realize how much youoverspent.
What was actually apsychological pattern of
behavior based on your pasttraumatic financial flashpoints
and hardships.
We see this with the keeping upwith the Jones effect, keeping
(29:17):
up the Jones', which meansyou're purchasing things you
can't really afford to keep upwith others.
Your thought pattern tells youif everyone sees I purchase this
item, they will believe I canafford it.
You feel comfort for others'perception of you, but then
later you actually have to dealwith your own financial stress.
When the reality sets in thatyou really can't afford it.
(29:39):
Bye then.
It's too late.
This behavior shows up andpeople that actually grew up
poor or just grew up feelingdeprived of what others consider
the nice and finer things.
So in their mind I'm a get itbecause I deserve it.
Even if they can't afford it.
I'm bringing awareness so thatyou are now conscious of why you
continue your cycle of financialproblems, why you are continuing
(30:04):
your cycle of not saving firstand not paying yourself first
while you're continuing thecycle of not actually creating a
budget and sticking to itbecause you are dealing with
that psychological trauma.
I'm not saying there's somethingwrong.
With having nice things or finerthings.
Cause I know someone is outthere thinking, Hey, I liked to
(30:24):
have nice things.
I'm going to have nice things.
I'm going to do this.
I know, like I know I'm notsaying that you won't ever have
nice things.
I'm just actually saying yes.
Yes.
You should allow yourself tohave nice things.
But.
You should only shower yourselfwith finer things.
(30:45):
Only when you can actuallyafford it.
When it's not going to put youin a financial hardship or
crisis.
When it's not going toemotionally affect you
negatively.
From what we have learned today.
We are now more open and willingto find balance.
And financial stability.
(31:05):
So you can have wealth and thefiner things instead of just
looking like you have it.
There's a difference.
Flexing on social media does notmean you have it.
When in reality, you're reallystruggling.
Remember champions when we arereal together.
We heal together.
(31:26):
Be real.
So now take this time.
To visualize your future savingsaccount, just stacking up.
Manifested in your thoughtsright now.
Did you see the commas on yourbank statement?
Yeah.
You see the commerce, you seeyour wealth.
Building.
(31:47):
You know, your power.
It's going to happen this year.
Now.
Each week.
I promote an author based on alife-changing book that I've
read.
This week since we will becreating and keeping a budget.
Um, highlighting the author,Tiffany.
Alicia.
Also known as the budget Nisa,her book, title, get good with
(32:12):
money.
Tiffany writes this.
Take a moment.
The key to breaking any patternsis to gently question your
behavior.
Think about your consistentfinancial habits and write them
down.
Be honest.
About where they came from, howthey make you feel and how they
might be pulling you off coursefrom your financial goals.
(32:35):
This is not to make yourselffeel bad about your current
habits, but to celebrate theawareness, knowing when, how.
And why you should do somethingis a first step to making
lasting positive changes.
And that's exciting.
Then Tiffany goes on to write.
If you identify any behaviorsthat are not serving your
(32:56):
pursuit of financial wholeness,it's time to let them go.
One way to help eliminateunproductive patterns is to
start thinking two steps ahead.
As in, if I do this, then thishappens.
If I do this, then that happens.
You want to get in the habit ofhitting pause and asking
yourself, what would thispurchase or financial decision
(33:17):
do for me now?
What will it do for me a monthfrom now when the bill comes,
what will it do when the billcomes and the money that was
supposed to go toward?
One thing has to go.
To this other thing.
The answer to all thesequestions, isn't all always to
not make the purchase ordecision, but if you make this
(33:38):
thought cycle part of yourspinning process, you'll always
be making thoughtful and betterpurchasing decisions.
Get good with money is a greatbook to read on your path to
creating a healthy relationshipwith money.
Tiffany Aliche also has a bookon budgeting.
You may want to pick up.
As well.
Her testimony is amazing.
(33:59):
And I think that's also why shegot the name.
The Budgetnista.
You are now a champion forhealing and change.
Or quick recaps ofclarification, understanding,
listen, and listen.
Well, Recap one, understand thatwe all have our traumatic
(34:21):
financial flashpoints to healfrom.
And the awareness is the firststep to healing from our poor
financial behaviors.
We now have the tools to changethe behavior and build a new
healthy relationship with moneyto create longterm wealth and
avoid get rich schemes.
Recap too.
Don't create unhealthy debt bypurchasing things you can't
really afford.
(34:42):
Don't fall as a victim or preyto predatory lenders.
If you spend on impulse frominternet browsing or not making
a list, getting approved andgetting approved for loans for
products, you can save four onyour own.
You will overspend and createdebt.
Pay off your debt and build yourcredit score.
Pay cash.
(35:02):
Instead of financing as much aspossible.
Don't fall victim to the instantgratification.
You can wait for that item andsave your money.
Recap three.
Pay yourself first by saving andinvesting as sticking to your
budget.
Invest in stocks, bonds, orinsurance.
If you spend all the money youmake, you really aren't making
(35:24):
any money.
If you save your money first,you will spend less.
If you stick to your budget, youwill not overspend.
It sounds so simple.
It requires discipline.
Recap for.
Be honest about your unhealthyfinancial habits.
Don't be embarrassed.
(35:45):
Denial would not help you heal.
Just like any other addictivebehavior, don't feel bad about
it.
The reason I was so transparentin the beginning of this session
is because I want you all toknow that these financial
hardships happen to the best ofus.
And if I'm practicing healthyfinancial habits coming from
being poor.
(36:05):
You can create the same habits.
With no guilt or shame.
Just set yourself up to be moredisciplined, be open to having
financial accountabilitypartners.
You can talk and discuss moneywith people.
Challenge your family to meetsavings goals.
This year have a savingschallenge.
(36:25):
Whoever saves the most moneymust donate a hundred dollars to
support this podcast.
Once again.
Click on the document link in mypodcast notes.
It has a budget worksheet foryou to start your budget and
create your budget.
(36:46):
Go through your checkingaccount.
Look at all of yourtransactions.
make sure that you geteverything and that you're open
and honest with yourself abouteverything that you're spending
so that you can cut yourspending.
So you can find where you cansave.
I'm going to go over a quickoverview of what is on the
(37:06):
budget worksheet.
Step by step, step one, you'reactually going to write your new
positive money belief.
And create a positiverelationship with your money.
On your budget worksheet.
Step two, you're going toactually set your savings goal
amount.
So, this is an amount thatyou're going to create, and that
(37:27):
is going to be your savings goalfor the year of 2023.
Step three, you're going tocalculate your gross and your
net income.
Step four, you're going tocalculate how much you need to
say.
Each month.
Step five.
You're going to calculate all ofyour expenses, every single one
(37:49):
of your expenses.
And this is where you're goingto find out some of those things
that you probably gonna need tocut or end.
Step six, you're going tocalculate your discretionary
income.
That is the money left overafter your savings.
Has been deposited and the moneyleft over after all of your
(38:10):
expenses.
That's discretionary income.
That's your money.
You can spend.
Use that budget worksheet linkthat is in this podcast notes.
If you have other detailedquestions about your credit, how
to, fix and repair your creditscore, please?
(38:31):
Send me a video, on my Instagramand I'll be sure to try to
respond to everyone to help youthrough that process.
We have to heal together and Ijust want 20, 23 to be.
great financial year foreveryone in my circle.
And for all of my champions.
(38:55):
Before you decide to do sometype of romantic relationship
challenges and all of that.
Why don't you create.
A create a healthy relationshipwith money challenge once you
have a healthy relationship withmoney maybe true love will come
who knows make this year aboutcreating a healthy relationship
(39:15):
with money and make it achallenge for your family We are
manifesting this for the newyear.
Elevate your mind.
Be open to health and wealth.
Trust the healing process,sometimes healing hurts, but
when completely healed youbecome a stronger.
(39:36):
Wiser and amazing human.
That was heavy.
Let's relax and breathe.
Breathe in love.
Breathe out.
Love.
Breathe in peace.
(39:56):
Breathe out peace.
Breathe in love.
Share love.
Now, share this podcast to helpsomeone you love Create a
positive relationship withmoney.
(40:17):
we are champions.
We win together.
Let's continue to connect.
I've done all the talking, butdon't forget.
I'm also a great listener.
So after listening to thissession, you can release,
respond, reflect, or open up andacknowledge your struggles.
Let's start the healing processtogether.
Record your voice.
(40:39):
Or record a video and D M at tomy Instagram at shy, the healer
that's shy.
S H Y T H E healer, H E a L E R.
All one word.
I will try to respond to allvoice recordings and videos
only, but if you want to writesomething.
Write a review our comment andshare this podcast.
(41:04):
Champions you can support byclicking the link to donate and
support in my podcast notesuntil then see you next.
Healthcare sunday
All smiles champions.
Welcome to mine.
Elevation health and wealth.
My name is Dhawan.
I'm an emotional healer,educator and entrepreneur.
Each week, we will dig deep intoemotionally healing, all aspects
of your life to increase yourability to create prosperity
mind, elevation health andwealth allows you to elevate and
(00:26):
shift into a growth mindset.
Share each moment with me, I'mgiving you permission to fulfill
all of the unique desires ofyour heart judgment free
shame-free guilt-free elementsto heal your mind and body as
you listen and consume the wordsof the session with no fear.
Fear of loss champions if weheal together we'll be real
(00:47):
together Embrace unconditionallove and keep listening healing
is health health is wealth youare here on purpose Session for
creating a positive relationshipwith money.
Listen and listen well,champions, whether you get peace
(01:10):
from God.
Piece from the universe or peacewithin self creating a positive
relationship with money willallow you to elevate your
current mindset and beliefsabout your ability to heal from
past traumatic financialexperiences.
Actively practicing what youlearn in this podcast today will
(01:30):
increase long-term wealth foryou and your family.
I've decided to be extremelytransparent in this session
today.
Financial stability can changeimmediately from one life
changing experience.
It is my duty to reveal my ownfinancial hardships, financial
traumatic flashpoints, andlife-changing circumstances that
(01:52):
have impacted the financialdiscipline that I'll be sharing
with you today.
I'm not stating that I'mperfect.
I'm not saying that I've doneeverything right.
Or that I'm doing everythingright.
But I am telling you that Ipractice having a healthy
relationship with money.
Here's my saving story.
I started my habit of saving ata very young age.
(02:15):
It started with saving quartersand a little quarter slot holder
from my hometown local bankcalled old national bank in
Evansville, Indiana.
Which I eventually ended upworking there as my first
full-time job.
In fact, working there alsohelped me understand how people
with real money save and invest.
(02:35):
The bank had a program forchildren called kids bank
savings.
The bank would give children asmall booklet with small little
quarter slacks.
Once the slots were all filledup, you take it to the bank and
deposit into your kid's banksavings account.
I love challenges.
So I'm picking up everywhere.
(02:56):
I see change.
If I see coins laying around.
I'm taking it are.
Convert them into whole quartersso that I can fill up my quarter
booklet and stick it in a littlequarter slot.
Still to this day, when I seecoins and change on the ground.
I pick it up and I say, this haschanged.
You can believe in.
I still collect coins.
(03:16):
And if you want to collectsomething genuinely valuable
collect coins.
Needless to say, I created mysavings mindset at an extremely
young age.
I also had a small littlepersonal bank at home in my
bedroom.
And because I got robbed.
A couple of times by mysiblings.
I had to purchase a bank with acombination lock on it.
(03:39):
One of the cute littlecombination locks.
Then my siblings would have toask to borrow money.
And at that age, I only loanedmoney.
If they paid me back withinterest.
Now I carried that into myadulthood.
If I ever borrowed money from afamily member or a friend, I
actually pay them back withinterest.
(03:59):
Now I haven't had to do thisoften.
borrow the money, but there weretimes when I had to put my pride
aside and borrow funds.
My obsession was saving.
Money was so extreme.
My daddy would say you so tight.
You squeak when you walk, to behonest at the time, I didn't
really understand what thatquote meant.
I just knew that since my daddysaid it, it was funny because
(04:20):
people wouldn't laugh.
But I knew it meant somethingabout me saving money and being
frugal.
For example.
If he sent me to the gasstation.
I had to go into the gas stationto pay for the gas.
I would keep his change and Iwould save it.
He would never ask for thechange back when he sent me to
pay for the gas, he knew myhabits already.
(04:43):
Also when we would go to finddine at a restaurant servers.
If you're listening, I want toapologize in advance.
I was a child.
I didn't know any better.
Anyways, we will go to a Chineserestaurant, downtown Evansville
Ka-shing leap for years.
My family did not understand whythe server would give us such
poor service when we would dinethere, but the food was so
(05:05):
amazing.
We would always go back well.
I later had to confess to myfamily that I would wait to be
the last one out of therestaurant so I could take the
tip and still the tip from thetable.
I knew the money was for theserver, but I didn't realize at
the time they were making littlewages and survived off the tips,
I was just as child.
(05:26):
Trying to find ways to increasemy savings account.
Later in life.
My savings habits have saved mein many financial hardships,
which is why I'm stressing theimportance of creating the habit
of saving your money at creatinga budget by any means necessary.
Now, the next story is mytraumatic financial flashpoint
(05:47):
story.
Going up, we were on publicassistance.
We received food stamps and backthen food stamps were colorful
paper coupons.
For my younger audience.
We didn't have an EBT debit cardthat looked like a credit card.
We had to go to the registerwith the colorful paper bill.
So everyone in the store knewyou were on food stamps and
(06:09):
poor.
This was embarrassing to me.
So there were times I wouldwait.
Around this door until the storewas kind of empty before I would
go check out.
So I wouldn't be seen with thefood stamps.
But I did love breaking thedollar food stamps cause they
would give you back real change.
So that's a whole nother story.
(06:29):
But anyways.
I was embarrassed.
when I was in high school backthen there was a free lunch line
in the cafeteria.
That was also the law forstudents that have money.
So my freshman year of highschool, I didn't eat lunch
almost that whole year because Ididn't want people to see me in
a free lunch line.
I was ashamed and embarrassedabout being poor.
(06:52):
That was only my freshman yearthough.
Eventually I took advantage ofthe free lunch things to my
frugality.
I began to embrace anything thatwas free.
When I got my first part-timejob at the donut bag bakery, a
small family owned bakery inEvansville.
My mother made me quit runningtrack to pick up more hours at
the bakery because she said theynot paying you to run around
(07:14):
that track.
These were traumatic flashpoints from me.
I was so hurt that I had to giveup a sport.
I love to help my mother paybills.
I was born into poverty.
So I knew in these moments thatI wanted to live a life of
financial stability in myfuture.
Here's my financial hardshipstory.
(07:34):
I was actually doing financiallywell when I had actually
purchased my first home.
At age 22, I had a nice, prettynice vehicle.
I was working, making a decentsalary.
I was also a part-time student,but I was not happy in my career
choice.
I decided to put myself intofinancial, situational poverty
(07:57):
to pursue my dream job.
I decided to step out on faithand quit my full-time job at the
local utility company inEvansville.
Back then it was called veteran.
Now it's center point.
Based in Houston.
Go figure.
I live in Houston now.
I wanted to become an educator.
And I knew that my dreams werebigger than sitting at a desk,
(08:18):
helping to generate billions ofdollars for a company that hired
uneducated supervisors thatlowered my self-esteem and
affected my psychologicalfortitude with micro
aggressions.
Like.
I like it better when you wearyour hair straight.
What do you guys call thosethings in your hair?
(08:38):
Their braids.
We paid an Islander to put abraid in my daughter's hair.
When we went on vacation, such amakeup.
Or the most famous can I touchyour hair?
All these dehumanizing commentsthat I had to go through.
They also have ways of trying tomake me feel inferior.
(08:59):
I knew when I started my ownmentor group pals, pure
attractive ladies that Godwanted me to be an educator for
teens.
He had worked for me to do so in2009, during the recession, I
quit my full-time job and wentfrom a part-time student to a
full-time student.
To start my teaching career.
(09:21):
I self chose situationalpoverty.
My mother called me stupid formaking this decision.
But my father and my grandmotherbelieved in me.
My daddy said, I trust you thatif you making this decision on,
oh, you know what you're doing?
I had people that believed in mydream and supported me through
the process.
So having support makes a bigdifference.
(09:44):
However.
This is where the benefits of mysavings account comes into play.
I manage a budget based aroundmy savings.
I increase my, clients with mylegal side hustle of doing hair.
And I worked part-time as amentor at the YMC.
And then also as an afterschoolinstructor for Evansville
(10:05):
Vanderburgh school corporation.
I also needed to get thatteaching experience.
So even then there was stillsome hardships.
My loyal pickup truck named dodirt.
Almost got repossessed.
Thank God for garages.
Cause I hit my truck in thegarage and so I could catch up
on the payments.
But then I also had to apply forfood stamps and I got denied the
(10:25):
first time because of my assets.
They try to take your assets ifyou have them.
So that's just the way thesystem is designed for.
Poor people to stay poor and forus to fail.
But.
That'll be a whole notherpodcast episode to cover that.
But anyway, God provided and Isurvived the hardships and was
able to keep my truck and ableto keep my home.
(10:47):
Out of foreclosure.
And that was thanks to the Obamahome loan modification program.
God keeps his promises.
Y'all.
I relocated to Houston with nojob.
My sister relocated with me andshe had a job.
So she allowed my son and I tostay with her for six months.
I'm so grateful for that,because that also helped me
along my journey.
(11:08):
I was doing volunteer work for asmall stipend, had my little
small child support check, and Iactually borrowed money from a
whole life insurance policy topay my first month rent and
deposit.
Keep that in mind, I had a wholelife insurance policy.
Okay.
We got a one bedroom apartmentin Greenspoint.
(11:29):
Which most people in Houstoncall Gus point, but that's,
that's the hood.
We represent an H town.
North side.
We went about a week with noelectricity because I only had
enough money to pay the rent,but I started my first teaching
job at a small charter schoolcalled Richard Milburn academy
RMA.
(11:51):
When I got my first check, Ipaid the electricity bill during
this whole hardship.
I was very transparent with myson, Andre.
He knew that while I was chasingmy dream, we had the sacrifice.
He knew where and how the moneywas being spent.
He knew how and why it was stillimportant for us to sacrifice
some things for us to save forour future Texas home.
(12:14):
Now, if you think I'm tight withmy money and frugal with my
money, my son is on a wholenother level of tightness with
his money.
I modeled the behavior.
And of course we are role modelsfor our children.
Our children admire us.
See us copy.
And repeat us.
Let's say that again.
Our children.
(12:35):
At Meijer us, see us copy andrepeat us.
So remember everything that youdo, every behavior that you
show, they can either copy youor rebel from you.
But studies show, they are mostlikely to copy you.
This is the importance ofcreating a healthy relationship
with money.
(12:55):
As a new family practice.
Now let's begin.
We will start with youremotional beliefs about money.
This is considered your moneymindset.
Here's a list of some of thebeliefs.
Some of us may hold.
We may believe that only peoplethat are rich can save and
(13:16):
invest money.
Poor people can't save.
The truth is anyone can savemoney.
Number two.
We may believe that people thathave and own expensive things
have more money with status.
The truth is most people thatare flashy, especially on social
media are not wealthy.
It's usually a front or they'regetting paid as influencers.
(13:38):
Number three.
We may believe it's fine to livepaycheck to paycheck because we
feel like we've been doing okay.
And we still have nice things.
Truth is if you're livingpaycheck to paycheck, you are
one financial hardship away froma deep financial setback.
(13:58):
We may believe number four, wemay believe that being rich and
wealthy.
Are the same thing.
Shoot is being rich is temporaryand can be gone as quick as you
receive it.
And being wealthy is lifelongfinancial stability for
generations.
If you can't manage your moneybroke, you definitely can't
(14:20):
manage your money.
Rich.
We see this.
When people win the lottery,they get rich quick and they go
broke even quicker.
Now that we have tackled some ofthose mindset myths.
We have to understand that thesebeliefs actually shape our
financial behavior.
Now let's address some traumaticfinancial flashpoints in your
(14:42):
life or may have happened in ourlives.
Traumatic flashpoints arenegative situations that may
have happened to you and, oryour family during hardships and
struggles.
I listed some of mine earlier.
Here are some more.
One being evicted from your homeor having a home foreclosure,
which may cause homelessness,number two, having cars or
(15:05):
furniture, repossess, numberthree, constant family fights,
verbal or physical fights aboutmoney problems, divorces due to
money problems.
Number four, being forced togive up a membership to
activities or trainings or notbeing able to afford.
Competitive sports trainings,gymnastics, dance, or other
trainings needed to reachprofessional Heights.
(15:27):
Number five, going without basicsurvival items and needs such as
food.
clean and decent clothes,toiletries or personal items.
I'm sure there are sometraumatic flash points,
traumatic financial flashpointsthat you were thinking about in
your life.
We have all heard,, stories fromour parents or grandparents
(15:48):
about their financial strugglesand how we should be grateful
because we have more than theyhad.
they didn't have food, had toeat a spoon of peanut butter for
dinner, yada, yada, yada, thestruggles have and were real
because of those traumaticflashpoints.
We live in survival modeconstantly.
Now.
(16:08):
I know how to survive inhardships.
I hustled did something strangefor some change.
I've Rob Peter to pay Paul.
I've done it all.
Once again.
I'm transparent with you.
I'm not perfect.
Now it's time for us to createthis healthy relationship with
money.
But understanding some commonmoney problems that directly
(16:29):
affect our income levels.
We will discuss six majorcommon, unhealthy money
situations.
One.
Get rich, quick schemes, Ponzi,schemes, and scamming.
Please don't fall for the DMmessages from your Instagram or
Facebook friends.
This is a form of fraud wherepeople will trick you into
believing that if you give them$50 or more, you'll get triple
(16:53):
return on your investment.
So if you see them flashing abunch of money on our social
media pages do not fall for it.
You can get a faster return onyour money by investing in a
high interest savings account,because they're going to take
your money and never return.
Two.
Buying or financing materialthings you can't afford, you
should not have.
(17:15):
A$800 purse, unless you can walkaround with$600 inside of it.
That.
$32,000 car loan you gotapproved for is only worth
$10,000 when you leave the cardealership.
Getting approved for a loan doesnot mean you can afford what you
purchase affording somethingmeans you have the cash
(17:37):
available from yourdiscretionary income or the
money is in your savingsaccount.
Approved financing means you arecreating.
Unhealthy debt.
Which brings us to number three,predatory lending.
Payday loans, online cash nowloans that have money in your
(17:59):
bank account within 24 hours.
Title loans, extremely highinterest loan rates.
Have you noticed you only seepayday loan and car title, loan
stores in the hood?
We're poor people live.
They are called predatorylenders because they are the
predators and you become theirprey.
(18:20):
They will take your car title,take your car for that measly
$800 loan that you already paidthem.
$2,400 for an interest.
They are the legally.
Funded loan sharks.
Instead of getting these typesof loans, please borrow from a
family member instead and paythem interest.
(18:42):
It's not worth losing thatfight.
If you do have to get one ofthose loans, make sure you can
pay them in full by that payday.
But please avoid it.
If your credit score is fair,you can probably a pod for a
personal loan at your localcredit union for money.
For more money, with a lowerinterest rate than a predatory
(19:03):
lender.
That's also a better option.
Number four.
Having excessive debt.
I'm not going to bring upstudent loans because we, we all
still waiting for the studentloan forgiveness.
Now that was another form ofpredatory lending, but I'm not
going to go into that.
Poor credit history from maxingout major credit cards, visas or
(19:24):
MasterCards, also maxing outstore credit cards like Macy's
or best buy cards or gettingsmall loans for furniture and
mattresses.
Now it ain't nothing like a good$1,500 mattress.
But the truth is you should onlyfinance these things.
If you can pay it off interestfree within six months.
You can also ask for thoseoptions, if you don't need
(19:48):
instant gratification to havethat mattress right away.
The better thing to do insteadof making payments to a finance
company, make the payments toyourself for six months, and
then just walk in the store sixmonths later and pay cash for
your mattress.
You can do the same thing with acash car, save the payments and
(20:08):
then go pay cash for the car.
You can also do this with yourfirst apartment.
Stay with someone for For six tonine months, save the monthly
rent amount and then go pay awhole nine months rent for your
new place.
You can also do that with a downpayment on your first home.
Stay with someone, save for yourdown payment and then purchase
(20:28):
your first home.
I have actually allowed peopleover the years, stay with me and
say to get their own place or topurchase their own home.
Number five.
Not paying yourself first andsaving or investing and not
having necessary insurancethat's car insurance, health
insurance, and life insurance.
(20:49):
Every person should have sometype of whole life insurance
policy.
It is an investment.
I stated earlier that I borrowedfrom my whole life insurance
when I was in a financialhardship.
They are interest free and allyou have to do is either pay it
back or they'll take it out.
If something happens to you.
(21:10):
Many of us don't know thebenefits of life insurance
policy.
So instead of paying NOLs,monthly streaming subscriptions
of stars, Netflix, HBO, max, getrid of a couple of those
subscriptions and borrowsomeone's logging information
for their streaming service andcall an insurance agent.
So set up your whole lifeinsurance policy.
(21:31):
Have this insurance paymentdeducted automatically from your
account, just like Netflix takesit, except this is an
investment, not a liability.
You can't use that as an excusethat I can't afford life
insurance.
If you can afford to binge watchP valley bridge written at
Abbott elementary.
(21:53):
By paying for streaming servicesevery month you can afford a
whole life insurance policy.
So you need to look into a wholelife insurance or a term life
insurance.
You need some type of insurancefor your family.
Young people may be wonderinghow to build your credit.
And some of you are wonderinghow to fix a credit.
You've messed up.
(22:14):
To build your credit.
If you have no credit, go to alocal credit union with$200 that
you have saved and open asecured credit card.
This will start revolving crediton your credit report.
Secure credit is actually yourown money on a credit card that
you'll use to make purchases.
The key to increase your creditscore.
(22:35):
Is this.
I do not max out max out means.
Don't use all the money yet.
The whole$200 only use about 10to 20% of it at a time.
Pay the monthly bill on time.
You can not be 30 days late onyour credit card payment because
it'll lower your score.
Then you can apply for otherforms of credit within your
(22:57):
affordability.
As discussed earlier, the goalis to work your score up to at
least six 80 to 700 creditscore.
This will take about two yearsbecause the age of your credit
history matters during these twoyears, that two year, time
period, stay on the same job andsave your money while watching
your credit score increase, youcan actually purchase your first
(23:19):
home instead of renting anapartment.
DTI debt to income ratio is alsoimportant.
So make sure that your debt.
Is under 10% of your grossincome.
And you'll see on the budgetworksheet that I've attached.
What the difference is betweenyour gross and net income?
Remember?
(23:39):
Remember this.
Key facts and young people, latepayments, lower your credit
score.
Max credit cards, lower yourcredit score, credit inquiries,
lower your credit score, moredebt than the money you make.
Can cause bankruptcy and you'llhave seven years of poor credit.
So please, please, please.
(24:00):
If you're a young listener.
Don't damage your credit.
For those of you that need tofix and repair your credit
problems.
You do not have to pay a company30 to$80 a month to repair your
credit.
You do not have to pay someoneto repair your credit.
You can repair your own credit.
Take that 30 to$80 a month thatyou were going to pay that
(24:22):
company to repair your credit.
Pull your credit report for freeonline or by using the credit
karma app.
Take and schedule a Friday offwork and do online disputes for
your debt on your credit report.
If you see something thatdoesn't look like it's yours
dispute it.
And then start making paymentsthose 30,$80 payments towards
(24:45):
your small, smallest debts untilyou slowly pay off all your
debts.
It can be done.
You just have to have thediscipline to do it.
I call your credit cardcompanies, Asper lower interest
rates.
Many of us don't know we can dothat.
You can call your credit cardcompanies and say, Hey, is it
possible for me to get a lowerinterest rate?
And then go ahead and startpaying off your lowest credit
(25:07):
card balances.
First, you can do all of this onthat day that you take off on
that Friday, you take off andthen 30 days later, your school
will have increased by about 30points.
There's a little more involvedto it, but you get the point
it's much easier than wastingmoney on one of those.
Agencies or companies that tryto get money from you to, to fix
(25:29):
your credit repair or whateveryou can repair your credit on
your own.
The main goal in creating ahealthy relationship with money
is understanding your spendinghabits by creating and being
disciplined enough to stick toyour budget.
Understanding your spinninghabits are knowing where all of
your money is being spent, whyit's being spent and how it's
(25:52):
being spent, having a realisticsavings goal and savings account
that you do not have directaccess to.
That is so important.
In fact, my direct deposit formy savings account goes into a
credit union that is far from myhouse and the credit union
closes at four and I don't havea.
(26:13):
The debit card to that account.
My checking account is notconnected to that savings
account in any way.
I cannot transfer money.
I did all of this intentionallyand on purpose because I have to
be disciplined with my savings.
Also note that the money in thisaccount is only for me.
(26:35):
It is not for a family memberthat needs to borrow money.
It is only for me.
This account is strictly andsolely for my hardships only.
Same for you.
You will not allow a familymember to borrow money from that
savings account.
That's your emergency fund.
If a family member calls you andsays, Hey, my car's about to get
(26:57):
repossessed.
I need to borrow$800 to save it.
Do not give them the money.
Keep in mind that if they're notwilling to pay the money to keep
their car on time, they'redefinitely not going to pay you
that$800 back.
I had to learn these things thehard way you will do the same
thing after you listened to thispodcast.
And do your budget using thebudget worksheet link that I put
(27:20):
in the podcast notes for you.
I'm also encouraging you toshare this podcast with your
family and have a vision boardslash budget party.
Using the worksheet I createdfor my champions for change.
We must be intentional about ourhealthy relationship with money
this new year.
Now, when I tell you that in thepast, it's been like frowned
(27:44):
upon or negative to talk aboutmoney with your friends and your
family.
However, Find an accountabilitypartner, that you felt
comfortable sharing yourfinancial situation with, and
work together on your budget.
Whether it's a close familymember or a close friend, y'all
have to hold each otheraccountable and create a savings
now.
Be careful with impulse buyingonline with Amazon.
(28:09):
And after pay and all those paylater apps.
No retail therapy spending nomore food and Dolger spending no
more inner child revengespending, no more maxing out
credit cards and definitely nomore keeping up with the
Joneses.
Hey, you.
Champion for life changes, moneysaver.
(28:33):
Budget keeper.
If you are hearing my voicetoday is a day you accept the
fact that you were created witha divine purpose to understand
how your emotions are connectedto your relationship.
With money.
Humans have emotional responsesto money.
Beliefs you have about money andbehavior are in your
subconscious mind.
(28:54):
Have you ever overspent and thenquestion why you did it.
You actually get a little upsetwith yourself.
When you realize how much youoverspent.
What was actually apsychological pattern of
behavior based on your pasttraumatic financial flashpoints
and hardships.
We see this with the keeping upwith the Jones effect, keeping
(29:17):
up the Jones', which meansyou're purchasing things you
can't really afford to keep upwith others.
Your thought pattern tells youif everyone sees I purchase this
item, they will believe I canafford it.
You feel comfort for others'perception of you, but then
later you actually have to dealwith your own financial stress.
When the reality sets in thatyou really can't afford it.
(29:39):
Bye then.
It's too late.
This behavior shows up andpeople that actually grew up
poor or just grew up feelingdeprived of what others consider
the nice and finer things.
So in their mind I'm a get itbecause I deserve it.
Even if they can't afford it.
I'm bringing awareness so thatyou are now conscious of why you
continue your cycle of financialproblems, why you are continuing
(30:04):
your cycle of not saving firstand not paying yourself first
while you're continuing thecycle of not actually creating a
budget and sticking to itbecause you are dealing with
that psychological trauma.
I'm not saying there's somethingwrong.
With having nice things or finerthings.
Cause I know someone is outthere thinking, Hey, I liked to
(30:24):
have nice things.
I'm going to have nice things.
I'm going to do this.
I know, like I know I'm notsaying that you won't ever have
nice things.
I'm just actually saying yes.
Yes.
You should allow yourself tohave nice things.
But.
You should only shower yourselfwith finer things.
(30:45):
Only when you can actuallyafford it.
When it's not going to put youin a financial hardship or
crisis.
When it's not going toemotionally affect you
negatively.
From what we have learned today.
We are now more open and willingto find balance.
And financial stability.
(31:05):
So you can have wealth and thefiner things instead of just
looking like you have it.
There's a difference.
Flexing on social media does notmean you have it.
When in reality, you're reallystruggling.
Remember champions when we arereal together.
We heal together.
(31:26):
Be real.
So now take this time.
To visualize your future savingsaccount, just stacking up.
Manifested in your thoughtsright now.
Did you see the commas on yourbank statement?
Yeah.
You see the commerce, you seeyour wealth.
Building.
(31:47):
You know, your power.
It's going to happen this year.
Now.
Each week.
I promote an author based on alife-changing book that I've
read.
This week since we will becreating and keeping a budget.
Um, highlighting the author,Tiffany.
Alicia.
Also known as the budget Nisa,her book, title, get good with
(32:12):
money.
Tiffany writes this.
Take a moment.
The key to breaking any patternsis to gently question your
behavior.
Think about your consistentfinancial habits and write them
down.
Be honest.
About where they came from, howthey make you feel and how they
might be pulling you off coursefrom your financial goals.
(32:35):
This is not to make yourselffeel bad about your current
habits, but to celebrate theawareness, knowing when, how.
And why you should do somethingis a first step to making
lasting positive changes.
And that's exciting.
Then Tiffany goes on to write.
If you identify any behaviorsthat are not serving your
(32:56):
pursuit of financial wholeness,it's time to let them go.
One way to help eliminateunproductive patterns is to
start thinking two steps ahead.
As in, if I do this, then thishappens.
If I do this, then that happens.
You want to get in the habit ofhitting pause and asking
yourself, what would thispurchase or financial decision
(33:17):
do for me now?
What will it do for me a monthfrom now when the bill comes,
what will it do when the billcomes and the money that was
supposed to go toward?
One thing has to go.
To this other thing.
The answer to all thesequestions, isn't all always to
not make the purchase ordecision, but if you make this
(33:38):
thought cycle part of yourspinning process, you'll always
be making thoughtful and betterpurchasing decisions.
Get good with money is a greatbook to read on your path to
creating a healthy relationshipwith money.
Tiffany Aliche also has a bookon budgeting.
You may want to pick up.
As well.
Her testimony is amazing.
(33:59):
And I think that's also why shegot the name.
The Budgetnista.
You are now a champion forhealing and change.
Or quick recaps ofclarification, understanding,
listen, and listen.
Well, Recap one, understand thatwe all have our traumatic
(34:21):
financial flashpoints to healfrom.
And the awareness is the firststep to healing from our poor
financial behaviors.
We now have the tools to changethe behavior and build a new
healthy relationship with moneyto create longterm wealth and
avoid get rich schemes.
Recap too.
Don't create unhealthy debt bypurchasing things you can't
really afford.
(34:42):
Don't fall as a victim or preyto predatory lenders.
If you spend on impulse frominternet browsing or not making
a list, getting approved andgetting approved for loans for
products, you can save four onyour own.
You will overspend and createdebt.
Pay off your debt and build yourcredit score.
Pay cash.
(35:02):
Instead of financing as much aspossible.
Don't fall victim to the instantgratification.
You can wait for that item andsave your money.
Recap three.
Pay yourself first by saving andinvesting as sticking to your
budget.
Invest in stocks, bonds, orinsurance.
If you spend all the money youmake, you really aren't making
(35:24):
any money.
If you save your money first,you will spend less.
If you stick to your budget, youwill not overspend.
It sounds so simple.
It requires discipline.
Recap for.
Be honest about your unhealthyfinancial habits.
Don't be embarrassed.
(35:45):
Denial would not help you heal.
Just like any other addictivebehavior, don't feel bad about
it.
The reason I was so transparentin the beginning of this session
is because I want you all toknow that these financial
hardships happen to the best ofus.
And if I'm practicing healthyfinancial habits coming from
being poor.
(36:05):
You can create the same habits.
With no guilt or shame.
Just set yourself up to be moredisciplined, be open to having
financial accountabilitypartners.
You can talk and discuss moneywith people.
Challenge your family to meetsavings goals.
This year have a savingschallenge.
(36:25):
Whoever saves the most moneymust donate a hundred dollars to
support this podcast.
Once again.
Click on the document link in mypodcast notes.
It has a budget worksheet foryou to start your budget and
create your budget.
(36:46):
Go through your checkingaccount.
Look at all of yourtransactions.
make sure that you geteverything and that you're open
and honest with yourself abouteverything that you're spending
so that you can cut yourspending.
So you can find where you cansave.
I'm going to go over a quickoverview of what is on the
(37:06):
budget worksheet.
Step by step, step one, you'reactually going to write your new
positive money belief.
And create a positiverelationship with your money.
On your budget worksheet.
Step two, you're going toactually set your savings goal
amount.
So, this is an amount thatyou're going to create, and that
(37:27):
is going to be your savings goalfor the year of 2023.
Step three, you're going tocalculate your gross and your
net income.
Step four, you're going tocalculate how much you need to
say.
Each month.
Step five.
You're going to calculate all ofyour expenses, every single one
(37:49):
of your expenses.
And this is where you're goingto find out some of those things
that you probably gonna need tocut or end.
Step six, you're going tocalculate your discretionary
income.
That is the money left overafter your savings.
Has been deposited and the moneyleft over after all of your
(38:10):
expenses.
That's discretionary income.
That's your money.
You can spend.
Use that budget worksheet linkthat is in this podcast notes.
If you have other detailedquestions about your credit, how
to, fix and repair your creditscore, please?
(38:31):
Send me a video, on my Instagramand I'll be sure to try to
respond to everyone to help youthrough that process.
We have to heal together and Ijust want 20, 23 to be.
great financial year foreveryone in my circle.
And for all of my champions.
(38:55):
Before you decide to do sometype of romantic relationship
challenges and all of that.
Why don't you create.
A create a healthy relationshipwith money challenge once you
have a healthy relationship withmoney maybe true love will come
who knows make this year aboutcreating a healthy relationship
(39:15):
with money and make it achallenge for your family We are
manifesting this for the newyear.
Elevate your mind.
Be open to health and wealth.
Trust the healing process,sometimes healing hurts, but
when completely healed youbecome a stronger.
(39:36):
Wiser and amazing human.
That was heavy.
Let's relax and breathe.
Breathe in love.
Breathe out.
Love.
Breathe in peace.
(39:56):
Breathe out peace.
Breathe in love.
Share love.
Now, share this podcast to helpsomeone you love Create a
positive relationship withmoney.
(40:17):
we are champions.
We win together.
Let's continue to connect.
I've done all the talking, butdon't forget.
I'm also a great listener.
So after listening to thissession, you can release,
respond, reflect, or open up andacknowledge your struggles.
Let's start the healing processtogether.
Record your voice.
(40:39):
Or record a video and D M at tomy Instagram at shy, the healer
that's shy.
S H Y T H E healer, H E a L E R.
All one word.
I will try to respond to allvoice recordings and videos
only, but if you want to writesomething.
Write a review our comment andshare this podcast.
(41:04):
Champions you can support byclicking the link to donate and
support in my podcast notesuntil then see you next.
Healthcare sunday
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