Some say that it is the other way around, more money, more problems. I wonder if these people that think/say this have ever been single-mama-no-child-support-one-income broke before.
I mean, Mama, maybe you are fortunate and you don’t need government assistance, and you are receiving child support, and you are making more than enough to cover the bills, kudos.. this post really isn’t for you, but read on! I’m sure you can relate somewhere down the line.
For those of us that do need government assistance and are making by the grace of God, I simply want to show you where you are and when you can be headed, if you work harder.
Where you may be: No Money
- Your credit score is anywhere from 580 to 620 ( low).
- You make $10 an hour and work 40 hours a week ( annual income is less than 20K).
- You get $400 in food stamps.
- You get some change in TANF.
- Your rent is about a third of your income.
- You get child care assistance but still have to pay $150 a month.
- You have a car note, which is another 1/3 of your check.
- And with the last 1/3 of your income you are required to make it stretch, therefore you are always broke and living pay check to pay check.
Now this shoe that I have set out, may not fit you all the way, but just follow me here.
Having no money leads to more problems especially if you want to move up and do better for yourself.
For example, with a low credit score it is difficult to purchase anything substantial, like a car, rent a house, etc. And if you do try and do these things the interest rate it through the roof! Should you try and buy a car and have it financed and not put any money down, you are looking at having a 29% interest rate. You will be making payments on a car that cost $5,000 in cash for 5 years and end up paying around $18,000 by the time you’re done. That’s a problem!
How do you move up in this world then? How do you make more money? How do you get out of the slump called “Poverty” or “Broke” or “Living Paycheck to Paycheck”?
One step at a time.
Where you want to be: Making More Money
From doing some research, I have found that people that are driving nice cars and are living life comfortably often have more than one source of income, they have about 5. How? Well, they may have a 9 to 5 job (income #1) , they may sell items on Amazon (income #2), they may have a savings account that accrues interest over time (income #3), they may have their own business or sale things as a hobby (income #4), or they may blog and in a year or 2 make money off of it (income #5), whatever the case may be they have their hands in several pots and they work hard!
You may be thinking, “Well, dang, how can I do anything extra when I barely have time for myself?”
To that, I ask, how bad do you want to be able to live comfortably? How bad do you want to be able to give your child a future like you never had before? How bad do you want the things that you desire? If you want it, you will go for it.
I encourage you today Mama! If there is a business that you want to step into, plan, pray and step into it. If there is a job that you can apply for that would make more money for your family, apply for it. Move forward with your morals and your values in mind and take a leap of faith. It’s scary. Change is scary. The unknown is scary. Failure is always a possibility, but how will you know, if you never try.
It’s too expensive to be broke. Pray and make moves in faith that will allow you to go from surviving to thriving!
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