As I sit down to write this, I’m reminded of the chaotic whirlwind that has been my life as a head of household, a full-time parent, a dedicated student, and a passionate teacher. Juggling these roles is like trying to balance on a tightrope, and let me tell you, I’ve stumbled more times than I can count—especially when it comes to managing my finances.
The journey began innocently enough. I was optimistic, energized by the prospect of building a better life for my family. I had dreams of saving for college funds, a cozy home, and maybe even a family vacation. But reality struck quickly. Between groceries, school supplies, and the seemingly endless list of bills, my financial landscape began to resemble a treacherous maze.
As a full-time parent, I often found myself in the position of having to make tough choices. Do I buy the organic fruits and veggies? Or do I opt for the cheaper, processed options? The guilt of wanting what’s best for my children while trying to stick to a budget was overwhelming. I’d often sit at the kitchen table, calculator in hand, trying to make sense of it all, only to feel like I was drowning in a sea of expenses.
Meanwhile, my role as a student added another layer of complexity. Balancing classes, assignments, and family obligations felt like being pulled in a hundred different directions. I tried to be frugal, but textbooks cost a small fortune, and school fees seemed to multiply overnight. Every time I thought I had a handle on things, an unexpected expense would pop up, leaving me scrambling to make ends meet.
Then came the day I had to face the harsh reality of my financial situation. Despite my best efforts, I found myself deep in debt, overwhelmed by mounting bills and a sense of failure that felt suffocating. After countless sleepless nights filled with anxiety, I made the tough decision to file for bankruptcy. It was a moment that felt like both a defeat and a relief—a chance to hit the reset button.
The experience was humbling. I had to confront the stigma associated with bankruptcy, reminding myself that it doesn’t define my worth or my abilities as a parent and educator. I learned that asking for help is not a sign of weakness, but a testament to strength and resilience. I sought guidance from my support system– mainly my mom– who reminded me that I was not alone in this struggle.
Emerging from bankruptcy, I discovered a renewed sense of purpose. I became determined to take control of my finances once and for all. I dove into researching budgeting techniques, learning about saving strategies, and finding ways to make my money work for me. I embraced the idea of living within my means and began setting achievable financial goals.
Today, while my financial journey is far from perfect, but I’ve found a sense of balance. I’m more mindful of my spending, more aware of my financial goals, and, most importantly, more forgiving of myself for the mistakes I’ve made. The struggles have shaped me into a stronger, wiser person, and I hope my story serves as a reminder to others that even in the toughest times, there is always a path forward.
So, to anyone out there feeling overwhelmed by their financial situation: know that you are not alone. Embrace the journey, learn from your experiences, and remember that every step—no matter how small—brings you closer to financial empowerment. Together, we can navigate this maze and find our way to brighter days ahead.
As an educated educator, mom, and mindset junkie, I know that the start of a new year brings a fresh wave of motivation—especially when it comes to finances. Whether you’re looking to save more, spend wisely, or invest in your future, now is the perfect time to implement smart money moves. Here’s a handy list of 15 actions you can take to elevate your financial game this year!
1. Set Clear Financial Goals
Define what you want to achieve financially this year. Whether it’s saving for a vacation, paying off debt, or building an emergency fund, clarity is key.
2. Create a Budget
A well-structured budget is your financial roadmap. Track your income and expenses to see where your money is going. Download my free budgeting template here!
3. Build an Emergency Fund
Aim to save three to six months’ worth of living expenses. This cushion will help you navigate unexpected costs without stress.
4. Review Your Subscriptions
Take a closer look at your monthly subscriptions. Cancel those that you rarely use and redirect that money towards savings or debt repayment. I have to do this monthly, because just as soon as I cancel one, we all of sudden sign up for more–sigh.
5. Automate Savings
Establish automatic monthly transfers to your savings account to prioritize your savings effortlessly. By doing this, you’re ensuring that you “pay yourself first” without needing to think about it. If possible, consider setting up a savings account that restricts withdrawals. This approach helps you avoid the temptation of raiding your savings during those so-called “emergencies.”
6. Invest in Your Education
Consider taking a course or attending workshops to improve your skills. This investment can lead to career advancement and increased earning potential.
7. Pay Off High-Interest Debt
Prioritize paying off your debts with the highest interest rates first, as this strategy can save you significant money over time. Begin by tackling those credit card debts to reduce your financial burden more effectively!
8. Explore Side Hustles
Explore a side gig that complements your skills and passions, whether it’s tutoring, freelancing, or selling handmade crafts. Earning extra income can provide a significant financial boost. For me, it was network marketing that helped me turn things around and regain my momentum.
9. Review Insurance Policies
Make sure you have the right coverage and are not overpaying. Shop around for better rates and consider bundling your insurance products.
10. Contribute to Retirement Accounts
Maximize contributions to your retirement accounts, like a 401(k) or IRA. The earlier you start saving, the more you can benefit from compound interest.
11. Meal Plan and Cook at Home
Planning your meals can significantly cut down on food expenses. Cooking at home is usually healthier and more budget-friendly than dining out.
12. Use Cash Back and Rewards Programs
Take advantage of credit card rewards and cash back programs, but be sure to pay off your balance in full each month to avoid interest. The best way I have gotten cash back is through credit card rewards programs. Use the card, pay it back and then get cash s rewards every year
13. Track Your Spending
Monitor your spending habits closely by utilizing apps or spreadsheets to spot trends and make necessary adjustments. Personally, I rely on a straightforward system: a notebook! It’s incredibly simple, and I also maintain a more detailed spreadsheet that I update each month.
14. Plan for Major Expenses
If you anticipate any large expenses (like home repairs or tuition), start saving for them now instead of waiting until the last minute.
15. Stay Informed
Read books, listen to podcasts, and follow financial blogs to stay updated on money management strategies and market trends.
16. Reassess Your Financial Plan Quarterly
Every few months, review your financial goals and progress. Adjust your budget and strategies as needed to stay on track.
17. Teach Your Kids About Money
Involve your children in discussions about money management. Teaching them early will instill good habits that last a lifetime.
Incorporating these smart money moves into your routine will set you up for a successful financial year. Remember, consistency is key!
Don’t forget to grab my free budgeting template here to help you get started on your financial journey!
Here’s to a prosperous and empowered new year! Let’s make 2025 the year we take control of our finances and achieve our goals together!
