The principles of money

There was a point in my life where I lived on a low income.  There is nothing worse than running out of money before your next payday.  I want to give hope, tips, and encouragement to those currently in that season.

Do Without

This was the hardest thing to do when I lived on a low wage.  I worked hard and wanted to enjoy my money.  But after bills, groceries, and gas there wasn’t much, if any, left over.  It was the most demoralizing experience.  It felt like all my money went to basic needs.  I had to go without the “I wants” for that season in my life.  I cried many tears because I didn’t want to.  I had to learn what was a need and what was a want.  And until my situation improved, I had to delay the wants.  Not learning delayed gratification leads to accumulating debt.  Debt keeps you in the cycle of poverty longer.  I want you to move out of this season as quickly as possible.

Monetize Your Gift

What is it that people say you do very well?  Whatever it is, monetize it.  If you can cook, sell plates.  If everyone loves your hair, start offering services for friends and family.  Use your God given talents to bring in extra money.  Whatever you do well, someone is willing to pay for that service.  I remember guys in college making decent money cutting hair in their dorm rooms.  Start small with friends, family, and neighbors.  They are many people who ended their low wage season leaning into talents they already possessed. Lisa Price started making natural hair care products in her kitchen.  She branched out and began to sell her products at flea markets and eventually online.  Carol’s Daughter went on to become a national brand after being featured on Oprah.  Never underestimate yourself and your gift.

Get Creative

While living on a low wage, I loved shopping at thrift stores.  I have found my most prized possessions at secondhand shops.  I bought a chaise lounge that I loved for many years at a Goodwill.  My first apartment was furnished primarily with used furniture that I painted and repurposed.  I went to the grocery store late in the evening and purchased the rotisserie chicken that had been discounted.  I stretched that bird out for as long as I could.  I made soup, sandwiches, and salads until there was nothing, but bone left.  I found planters on the side of the road and started a herb garden.  Living on a low wage forces you to get creative with your finances.  I still enjoy looking for ways to save money on every purchase.

Lean On Community

No one can help you if they don’t know you’re in trouble.  I have had to humble myself and ask for money many times in my life.  I would have applied for government assistance, but I made too much.  Life happens to all of us.  Please don’t feel ashamed of your circumstances.  I have had to move back home, work two jobs and couch surf. Those in my community were happy to help while I worked out my next move.  I set timelines for how long I would stay and worked to honor that commitment.  If you are dependent on the welfare of others, don’t stay there.  Make a commitment to yourself to keep moving forward.  Let your tribe know what you need, be grateful for their help and pay it back or forward when you can.

Things Will Get Better

I eventually, got a better paying job and combined finances with my husband.   Things got better for me, and they can for you too.  I still use the tools I learned working a low wage job.  I was learning the cornerstones to building wealth.  These are living on less than you make, making a budget and always looking for deals.  You may feel hopelessness, but what I know for sure is this season won’t last if you don’t want it to.