8 money moves as a single mom:
1. INCREASE income with side hustles
like creating an online course.
Negotiate for a raise at my 9-5.
2. TRACK spend, live simply, but treat
myself & my daughter.
3. NO NEW DEBT
[A thread]
Focus on the LARGEST expenses first:
.
Can I reduce my:
1. 🏡 housing expense?
2. 🚗 insurance costs by not letting it auto renew & instead using
https://t.co/eZgLqwMjLI to efficiently search for better rates?
3. 🍎 food costs?
(See caption for more)
If you can't control how much income you earn during this time, take a tighter control of your expenses.
There are many ways. The most impactful for me is this:
I just published my AirBNB Tiny House listing💃🏻! I'm still adding things to the property listing though..
Life hack:
📣start before you think you're ready
📣start before you think you're ready
📣start before you think you're ready
Adjust as you go.
Dividends are cool because I didn't have to
🙅🏻♀️get dressed for work,
🙅🏻♀️commute or
🙅🏻♀��make business decisions,
and I made $455 year-to-date & almost $1,500 in passive income in 2021!
A portion of it is even tax free🤯
Think about the most successful thing you've done. How did you do it?
You probably "just did it"...you started, you took 1 step, made mistakes & kept going.
The "just start w/ one step" mentality has helped grow my wealth more than anything else as a divorced single mom.
Most pages pick a side & tell you why that's the best way. That can be super helpful if that's the side you're on.
On my page: I tell you what I actually do as a working single mom, and the pros & cons.
Building wealth is not one-size-fits-all. Thanks for being here❤️
I am not in the business of AVOIDING RISK, but instead MANAGING RISK
When I only AVOID risk, I find myself living in fear & doubt
To MANAGE risk, means to understand how things can go wrong, & have a plan for each scenario
As a single mom, this empowers me in decision making❤️
Dividends are cool because I didn't have to
🙅🏻♀️get dressed for work,
🙅🏻♀️commute or
🙅🏻♀️make business decisions,
and I made almost $1,500 in passive income in 2021!
A portion of it is even tax free🤯
It took 9 years to get to my first 100k in net worth.
Once I had the first 100k, it took 5 years to reach $1Million. I was only super intentional these last 3 yrs.
It's true: the first 100k is the longest.