As the tax return checks start direct depositing into accounts, there is sure to be an influx of expensive purchases and enough “stunting” to go around. But this year, maybe we should all try to use this money differently, in a beneficial way to our future.
An article on Forbes entitled “7 Ways to Make the Best Use of Your Tax Refund” gives great advice as to what exactly you should do with your tax refund. For our student readers, this would also be a great way to jumpstart your savings when you receive your refund from your university.
Check this article out for great ways to spend your return:
Investing in yourself and your dreams with time and dedication can not only bring a sense of happiness but can also sometimes bring in an extra income. There are many young African Americans who have become entrepreneurs starting a business in their interests.
At just 9 years old Leanna Archer began a line of natural hair and body care products. Her great-grandmother passed a recipe down that used natural ingredients from Haiti. Her business began in the basement of her home with the help of her parents. At one point she earned an annual revenue of more than $100,000 a year. She has been featured in many publications including Forbes.
Starting a business is not an overnight process nor does every business flourish. However, taking a leap on faith and doing something you love (with a possible bonus income) can truly make your life seem more purposeful.
For the past month I have been trying to find a detox that does not include drinking some type of smoothie or eating some weird food I’ve never heard of. I stumbled across Sammie’s (or mrleighbush as he refers to himself now) Instagram where he made a post about a two-day liquid detox by a company named Arden’s Garden.
I was ecstatic when I saw this detox because it seemed like something I could actually do. However, when I saw that there were no Arden’s Garden stores or distributors in my state and that to order the 2 gallons would be $40, I decided that I was going to do it BUT I was going to find a way to make it happen for at least half the price. I ended up spending under $10 at Wal-Mart.
After a little searching I found a recipe that called for the following:
- 48 oz. of fresh grapefruit juice
- 32 oz. of fresh orange juice
- 16 oz. of fresh lemon juice
- 160 oz of quality steam-distilled water
- 2 empty gallon jugs
For two days, I tried to do this. My first day was very successful. Although I was tempted with hooters wings and Instagram pictures of biscuits I made it through pretty easily with a loss of three pounds (mostly water weight). Day two I wasn’t so successful. I will say that I will be doing this again very soon to actually see the true outcome without any cheat snacks…or meals.
Try this detox out if you've been having a problem finding one to stick to!
Do you have any other detox methods that work on a budget? Tweet us @TheBLKSocialite and let us know. Your tweets may appear in our live Twitter feed.
Saving money doesn’t come easy to most. It takes true planning and dedication to truly save and not dip into your funds. Often we make goals of saving large amounts of money every paycheck or every month but, life happens and its difficult when you’re first starting out. Here is an easy way to challenge yourself to save. Every week the savings amount increases by $1. By the end of the year you will have saved almost $1,400!! If you’re new to trying to save, this is a great place to start. You can make this week one on your road to savings or you can catch up to week five and make your last week the last week in the year. Happy savings!!
So I’m pretty sure we’ve all done this: you swipe your card repeatedly, not really paying attention to the price and then when it’s all said and done you think, ‘Man I’ve spent a lot of money’. Common sense would be to check your bank account and see what the damage is right? But let’s be honest, opening up that bank app after a splurging weekend is like waiting on the results of the test you just took, NERVE WRECKING!!
Like I’ve said before, this is my journey to better finances in my life as well. I’m human. I’m learning. I also, did the one-eye, cringe face to my bank account after a quick road trip this weekend. (It wasn’t as bad as I thought if you were wondering)
Here is a video featuring financial planner Joel Johnson on being honest with ourselves when it comes to our finances. He gives us three great rules to get started.
1. Tell yourself the truth
2. Only borrow to pay for assets that will appreciate over time
3. Don’t get overwhelmed, take things one at a time.
Please watch the entire video to get more information ( what’s 3 minutes when its towards a better future!!)
- April Denise
Uber is the new wave in luxury travel! With locations in 26 countries it's almost a guarantee that there is an Uber near you. After you download the app, Uber uses your Phone's GPS to connect you with the nearest driver, to ensure little to no wait time. Uber will even text you when your car has arrived with the drivers name and customer rating. The fare pricing is clear and beats out most competitors. Uber has adopted a cashless transaction, by using your charge card, there is no need to carry cash or tip the driver-- There's even a split the fare option (they've thought of everything!) With 5 different car options, there is something for EVERY budget.
You read it right. No I’m not speaking in the sense of stopping your grind to earn money, I’m encouraging you to stop eating your money and keep that cash in your pocket!
I remember being a college student and beginning my first engineering co-op. I was so excited about the new opportunity, the networking I’d be able to do and the NICE check I would be earning every two weeks (with hardly a bill to pay). Once I began working, I realized how much eating comes with the job. I mean, I understand why this is. In my field, you come to work and you’re inside of a building all morning. Of course you don’t want to sit at your desk every day and eat lunch, you want to get out and get some fresh air to prepare for the afternoon. So lunch becomes an opportunity to meet and mingle with your co-workers on a personal level and escape the office for “30 minutes”. It never occurred to me that while I’m spending all of this money almost every other day on lunch, my co-workers were making WAY more money than I was.
The main excuse you hear from people on why they never cook and are always eating out is that they are too busy. Well that no longer can be an excuse. Here are some tips to cut back on your spending:
1. Be Aware: Take the time to reflect on how much money you have spent this week alone on food. Now multiply this by 52 and realize how much money you can SAVE instead of spending in a restaurant.
2. Be Prepared: Meal prepping is IMPORTANT. If you know that you are busy during the week, take your Sunday afternoon to plan and prepare your meals for the week. I promise you, if the food is already prepared it is so much easier to keep the money in your wallet and eat what’s already made.
3. Be Encouraging: Encourage the people around you to start counting their pennies when it comes to eating out. You have to surround yourself with people who want the same things as you (Message!!), so if you encourage your friends or co-workers to start bringing their lunch as well, it will take away a lot of the temptation to eat out.
4. Be Rewarding: Pick one day out of the week and eat out. Completely depriving yourself of something will cause you to completely return back to your old ways. Pick a day that you know you would be most likely to eat out.
True life, I’m working on following my own advice here. We all have our struggle points and this is definitely one of mine. Be inspiring to someone else this week and encourage them to take on this challenge with you.
Have some other ways that our readers can save money? Tweet us @TheBLKSocialite and let us know. Your tweets will be seen on our live feed!
One thing I used to despise was when I’m in the check-out line at a department store and the cashier asks me if they can have my email. Umm….no you may not!!
1) I didn’t want to be bothered with pointless emails cluttering my inbox
2) my assumptions were that the deals probably weren’t even that good.
I was mistaken.
If you are a shopper, and you have zero self control over this habit, try buying items marked "sale" or "Clearance" that way you don't feel too bad about dipping into your piggy bank. The best thing you can do, especially for a store that you frequent often, is join their email list and/or get their rewards cards. Some of these stores are literally GIVING you money to shop with them, but if you don’t sign up, you’ll never know.
Try these tips next time you sign up for deals:
Email me over at TheeBlackSocialite@gmail.com and let me know any other money saving tips you may have. Place "Cheap$kate" in the subject line.
Young people tend to have the hardest time of actually holding on to a dollar, we spend more than we save. With the introduction of social media sites such as Instagram and tumblr, we have been given the opportunity to show off possessions that we have; the clothes and shoes we buy and any other expensive items that we can purchase for the simple satisfaction of a “like”. What drives us to be so materialistic?
I won’t lie, I once was very materialistic. In college, I would buy shoes knowing that I would be eating noodles for the rest of the week, that one night in those pair of heels was worth the sacrifice. I would splurge on an outfit, just because I knew I would be taking pictures in it. I'm not ashamed to say that THE HYPE TOOK ME OVER AS WELL!
However, times were different then. The only bill I was responsible for was my Belk credit card payment. Now, I am a 23 year old recent graduate who has bills to pay. There is no longer the option to spend my last dime on shoes because my rent, renters insurance, car note, car insurance, utilities, cable, water and credit card bills must be paid (oh and lets not forget to add Sallie Mae into the mix as well).
When I first started working I read a portion of a book entitiled “You Can Buy Happiness (and it’s Cheap)” by Tammy Strobel it really opened my eyes to how confused we are as a whole on “happiness”. Her story is on how she and her husband converted to simple living. There are people who live with hardly anything who are happy, yet here we are in 2014 struggling to keep up with the Joneses buying things we can’t afford to impress people who, at the end of the day, don’t matter.
We’ve become so high and mighty as a people that we look down on people who don’t spend their money on possessions that we put on pedestals, and refer to them as “basic”. People strive to wear the same designers as stars but work 25 hours a week making minimum wage. Why?
There is nothing wrong with shopping at stores that bring you fashionable styles at lower prices. There is nothing wrong with not owning a designer bag in 2014. There is nothing wrong with not buying an expensive pair of shoes every time you go out. It doesn't matter that your suit jacket or your dress is not designer. Stop trying to look like a million bucks when you don’t have a dollar to your name in savings or investments. Build your wealth.
The hardest part for some of us to start saving money will be the part of TRULY not caring what others think of you. Here’s a way to start: every time you see a person on Instagram with something expensive, think of how much money you have in your bank account versus how much their “likes” are worth at the end of the day.
No shade, if you can afford those luxury items,, it’s your money, spend it how you please. Me personally however, I’d rather spend money on a memory than an item any day. If you have to take out payday loans to do everyday things, seriously get your priorities together-- we have a long life to live.
Email us over at TheeBlackSocialite@gmail.com or Tweet us @TheBLKSocialite and let us know of any other money saving tips you may have. Place "Cheap$kate" in the subject line.