AWARE Consulting Firm, LLC

11/10/2024

https://www.awareconsultingfirm.com/post/how-mindful-spending-can-lead-to-a-more-balanced-and-fulfilling-life-a-surprising-perspective

In a world dominated by consumer culture, where every ad competes for our attention, the idea of mindful spending stands out. It challenges us to rethink how we handle our money and strengthens the connection between our expenses and our happiness. Rather than focusing solely on saving, mindful spen...

10/09/2021

Happy Saturday!!!

Day 84 out of 💯 Day Financial Challenge

Don’t allow others to push you into make financial decisions that does benefit you but only benefits them.

If you have to force any financial decisions to work, I can guarantee you will pay the price in the end.

Financial decisions shouldn’t be forced or made out of desperation, pressure, being anxious, or any negative emotions.

When someone is trying to force you to make a financial decision, analyze the situation so you can understanding why they are forcing you to make a decision.

Always ask a lot questions because and understand what’s the opportunity cost for you and if it’s worth it.

Always ask yourself will this be beneficial to me in next 5-10 years.

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10/08/2021

Day 85 out 💯 Day Financial Challenge

Now that you have created your monthly budget. It’s time to start taking extra money and paying off debt.

There are many ways to pay off debt and two popular ways is Debt Snowball and Avalanche method to pay off debt.

Debt snowball method is listing all your debt from lowest to highest balance and paying off the lowest balance first while making minimum payments on the rest of your debt. Once you have paid off your first debt, you will take that same monthly payment or however much you paid and include it with your next monthly bill to pay it off and so on.

Avalanche method you take your highest debt (interest) to lowest and pay them off. You will continue to make minimum payments on all your bills until you pay one off and take the payment made on the bill paid off and add to your next monthly bill to pay it off and so on.

You will continue either method until your debt is paid off.

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10/07/2021

Day 86 out of 💯 Day Financial Challenge

It’s time to create your budget.

You should have already written down your income and expenses.

Now you can create your budget.

I prefer a zero based budget because it allows me to give every dollar an assignment.

The zero based budgets helps you leave no room for extra money to be sitting without an actual assignment.

There are main other types of budgets you can do if you choose not to use the zero based method.

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10/06/2021

Day 87 out of 💯 Day Financial Challenge

Today, we are going to focus on knowing what income do we have coming in.

Knowing how much income you have coming in is very important because you will identify how much more do you need to increase your income to reach your goals.

When creating a budget or spending plan, knowing how much income you bring in is very important to creating a budget.

Without income you wouldn’t have the ability to spend unless you are using credit. Which is a bad idea to spend on credit without any means to pay it back.

There’s only so much of your expenses you can decrease.

The best thing to do is to increase your income but never increase your expenses to equal your income. This will defeat the purpose of increasing your income.

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10/05/2021

Day 88 out 💯 Days Financial Challenge.

Yes, I use to have that mindset if you looked a certain way people were rich and had lots of 💰 money.

But I learned quickly, wealthy people don’t wear their money nor are they loud about how much money they have. They are very low key people.

When trying to get your finances in order it’s very important for you to distinguish what your essentials are so you can eliminate unnecessary spending temporarily until you can get disciplined with your finances.

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10/05/2021

Tip Tuesday: Don’t apply for additional credit and you are not properly managing the credit you have.

1. Applying for more credit won’t get you approved but will definitely lower your credit score more.

2. Work on getting the credit you already have in a better position before asking for more credit.

3. Creditors are looking to see how you are paying the bills you already have.

4. Show faithfulness with what you already have before asking for more.

5. Hard inquires goes against you on your credit report and creditors start to think you are living on credit and you are not wise with your finances.

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10/04/2021

Day 89 of 💯 Days Financial Challenge

On yesterday, you pulled all 3 credit reports and made a list of all the bills you owed.

Today, you are making a list of the bills that are not reported on your report.

You can use the list from your credit report as a reference to make sure you don’t forget to list something you owe.

I have noticed some of my clients aren’t even aware of some of the creditors they owe until they pull their credit report.

I will post examples of how these list should look.

This all plays a part in becoming aware of your finances and organized to manage your finances with confidence, get out of survival mode and create stability within your life.

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10/04/2021

Mindset Monday: Mindset is everything.

Your mindset is what sets the tone f your day!

Think on the things that are good!

10/03/2021

Happy Sunday: Today is the day the Lord has made and let us rejoice and be glad!!!

Day 90 of 💯 Day Financial Challenge

1. Make a decision that today is the day you no longer run 🏃‍♀️ from dealing with your finances but you will confront them today.

2. Goal for today is to pull all 3 credit reports with all 3 credit scores for TransUnion, Experian, and Equifax.
(It’s important to pull your FICO score and not Vantage Scores)
Go to www.creditchecktotal.com and you can pull all 3 credit reports and credit scores for $1 for a 7 day trial period. If you don’t cancel before 7 days you will be charged…I think a monthly fee of $24.99. (Disclaimer: I do not receive any promotional fees from this company. If you already have an Experian account, you may not be able to access your credit report and credit scores for $1.)

3. Take all 3 credit reports and write down each credit reporting agencies name in a column.

- In each column write the creditor’s name you owe, the amounts you owe, and your credit limits.

This is very important to have done before we create a budget.

To create a budget you need to know all fixed and variable expenses.

Your budget should not just include your monthly bills you pay like utilities.

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10/02/2021

If talking about money makes you angry, it’s sign you don’t have a good relationship with your personal finances.

🚨It’s not your fault!!!

You just need to stop 🛑 and think where does this anger comes from whether it be:

👉🏾Childhood
👉🏾College
👉🏾Adulthood

The only way to be set free is to deal with the trauma that caused you to have negative emotions towards money 💰.

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10/02/2021

Day 91 of 💯 Day Challenge

Yes I skipped from Day 💯 to Day 91 because I counted how many days were left in this year and it’s 91 days starting with today. So please forgive me.

Because I want to engage more and when I get comments about the challenge I want to answer your questions and concerns here.

If you want clarity in your personal finances, I would start with finding a book on personal finance and reading 📖 and taking notes.

Most books 📚 on personal finances are going to say some of the same things such as:

👉🏾You need a budget/spending plan.
👉🏾You need an emergency fund.
👉🏾You need 3-6 months of expenses saved.
👉🏾You need to pay off debt.
👉🏾You should invest.

To really get clarity on your finances, you need to know:
👉🏾What are you doing wrong?
👉🏾Why are you doing it?
👉🏾What’s your relationship with money?
👉🏾Where did this relationship with money come from?
👉🏾How do you create a better relationship and habits towards your finances?

I like to address behavior towards personal finances because it allows you to deal with the root of the problem instead of the symptoms and then you are in the same situation as before.

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