week #3 - Persistency & Consistency: Reaching your life goals.
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Greetings
Hello and welcome to the Community Renewal Team (CRT) 2024 Financial Literacy Institute Blog. This blog is not public; It is open to those enrolled in our Institute. We use this blog to communicate about assignments; to share resources, and to discuss matters of importance to you! We look forward to our shared experience! ~Eileen Feliciano
week#9 Savings and Wealth Building
Last evening, we addressed preparing for retirement and building wealth. How prepared are you? What measures do you need to undertake to ensure a retirement safety net? 6 ways to save for your retirement: Focus on starting today. Contribute to your emergency fund. Reduce debt with Avalanche or Snowball Method. Rein in spending Set a goal/ Automate your savings!
I often encounter personal challenges that hinder my progress. These include struggling with self-discipline when spending when spending to fulfill emotional needs, lacking organizational skills like time management and budgeting, and grappling with the fear of failure. To overcome these obstacles, I can start by addressing my emotional needs through open conversations with someone I trust. To improve my organizational skills, I should commit to tracking and creating a monthly budget plan. When dealing with the fear of failure, I can reframe it as an opportunity for growth and learning from each experience.
ReplyDeleteSuccess is to be measured by not so much by the position that one has reached in life as by the obstacles which one has overcome while trying to succeed. - Booker T Washington
DeleteIt sounds like you have clear awareness of what the challenges are ...and are clear on some of the steps you could take to shift the patterns that feel uncomfortably uncomfortable. There's something I remember hearing a coach say once, which she framed as pivotal to changing paradigms / patterns / ways of being: "Opportunity Awareness." In your post, I see your reframe as embodying this.
DeleteUp until now, I have had a tendency to cope by purchasing the 'fluff stuff' when I am feeling overwhelm. These would be things like those $3+ protein bars, protein drinks, and semi-prepared foods. These 'fluff' do not align with my spending plan for food/groceries and seriously ADD up when a daily thing. I would call this a significant personal obstacle, as it has jammed me up financially. At a point in my childhood years, food was used in a way that was not truly life-nourishing. I learned that buying seemingly expensive, unplanned food was a way to take care of myself.
ReplyDeleteAs Yoda said "You must unlearn what you have learned."
My plan to address/resolve this:
1.) Extend "No-Spend Day" to multiple days, to do a pattern interrupt.
2.) Schedule my shopping on my calendar.
3.) Practice creating mindful grocery lists around meal planning and stick to the list!
4.) I will allow myself up to $4 to purchase a clearance item - that is used & needed.
5.) Doing my grocery shopping in the morning,
6.) Meal prep when I have more energy (earlier in the day) with my lunch be the largest meal and at that time make a salad with some protein- ready to eat for dinner.
7.). Practice noticing when I want to go out and buy rather than prepare ....and tune into what other ways I could take care of myself.
This will be a huge change in my life style and coping. I see it as helping with my spending - and therefore with my savings, as well as my health & well-being.
These are great goals to have, same changes like this will go far. And the mindset will be changed and have a better understanding of our finances and that will take us far.
DeleteThank you Onika - I appreciate the support. A change in mindset is definitely what I am going for!
DeleteThank you for being so transparent Jess... you just made me realize a lot of this I myself should unlearn.
DeleteI'm glad it helped you Chanell. The way I see it, I have been through so very much in my life that it must have been for some reason. So, if transparency & vulnerably sharing helps someone, I am grateful. Unlearning and creating new subconscious default patterns takes a whole lot of noticing, practice, focus, persistence, and loving self-compassion. Here's to unlearning what no longer serves us!
DeleteGood evening, part of my obstacle in this financial situation, is that I am currently not working , and that is partly because of it being difficult to find employment that enables me to support the needs of my son with Autism, Im currently looking for a Remote position, because of his schedule, with his Day Program. So that alone is an obstacle, im trying to budget with the limited income i have, but im making it work, the best i can. I feel like once I get back to work, I can have a better financial situation, and once that happens, initially , slowly pay down this debt, and start rebuilding my savings, and get back on track.
ReplyDeleteFinding employment that pays a sufficient hourly wage to support basic needs - and needing to do it remotely - can be a significant project. It sounds stressful. I also hear your clear intentions. I do believe amazing things will unfold from your clear intentions and taking action steps. You've got this!
Delete"If one advances confidently in the direction of her dreams, and endeavors to live the life which she has imagined, she will meet with success - unexpected in common hours."
- adapted Henry David Thoreau
I feel you onika... it was very hard for me financially at one point because of not having a job and trying to find a job that matches my daughter schedule was very hard. I do pray you find a great job that will match perfectly with your sons schedule. You got this!
DeleteYES ITS HARD! And im dealing with that match as well, its frustratng but we need to push through to get to it...I appreciate your words and prayers.
Deletep.s. Here is that poem I read a few weeks ago: “There's a Hole in My Sidewalk: The Romance of Self-Discovery” by Portia Nelson:
ReplyDelete"Chapter 1 of My Life:
I walk down the street.
There's a deep hole in the sidewalk.
I fall in.
I am lost. I am helpless. It isn't my fault.
It still takes forever to find a way out.
Chapter 2:
I walk down the same street.
There's a deep hole in the sidewalk.
I pretend I don't see it. I fall in again.
I can't believe I'm in the same place!
But it isn't my fault.
And it still takes a long time to get out.
Chapter 3:
I walk down the same street.
There's a deep hole in the sidewalk. I see it there.
I still fall in. It's a habit!
My eyes are open. I know where I am.
It is my fault. I get out immediately.
Chapter 4:
I walk down the same street.
There's a deep hole in the sidewalk.
I walk around it.
Chapter 5:
I walk down a different street.
I feel like i walk down a different street, but it is the same...
DeleteI hear you Onika. I have a way of looking at that; let me know if you'd like me to share it.
DeleteHello Onika. I can relate to your situation. I am currently out of work due to a work place injury. I am not being paid my full salary. I am learning to manage my funds more efficiently. Working with a limited budget has made me recognize that . I will keep an ear out for remote positions.
ReplyDeleteI appreciate that , I really do. However, Im hoping your able to utilize some helpfule resources , that are out there to help with your current situation, Do not be afraid to utilize them. Just sharing the helpful information I received, www.crt.org. Also look up some foord pantries in your area.
DeleteHello Onika. Working with a limited budget has made me recognize the importance of writing out a budget plan.
ReplyDeleteHello Jess. I like your idea about creating a shopping list and meal planning. I think I am going to plan at least two meals this week. By creating a plan this can reduce impulsive purchases while grocery shopping.
ReplyDeleteHello. My biggest obstacle is procrastination. I always make excuses why I can't start and finish things. My plan is going to get a white board and start listing goals for the week. I will take a picture and send to my friend to make sure I get them done. I'm going to make myself accountable for my actions and push thru. My Pastor preached today about getting up and making our dreams come true cause no one is going to make that happen but yourself
ReplyDeleteHello Onika. Yes you are facing a tough obstacle right now. The best part of what your are doing is being part of this class and seeking help to make things better. I have been looking on Indeed and they do have a lot of remote jobs available. Especially insurance companies and Eversource.
ReplyDeleteI appreciate the information, I will check , Thank you so much
DeleteJess I like your plan to conquer your obstacle. I'm going to use some of your techniques if that's okay.
ReplyDeleteDefinitely! I have learned that to have awareness is my first step... It is rather interesting the things I can be doing in life without awareness of how they affected my financial goals. So, it is definitely time for me to be awake, focused, and taking action.
DeleteLadies I have enjoyed working and talking with you all. I have learned a lot and will continue to grow with all the knowledge that we learn from each other. You are all blessed and gifted. Thank you
ReplyDeleteGood evening/morning ladies... I didn't really know how I would respond to this question, but I will share the first thing that came to mind... FEAR.
ReplyDeleteFear has been an "obstacle" for me in the sense where it's been hard for me to accomplish a lot of the things I dream of because I fear that I might fail. It' weird I know but I just don't like the feeling and in this case the pressure is high for me because I will be the first in my family go out of my way to be educated on finances.
How do I plan to address/resolve this ?... well I believe I've taken the first step by enrolling in this program which was a lot for me to decide... I also plan to apply everything that I learn during each class...
Hello ladies,
ReplyDeleteAn obstacle for me is learning to accept the things I can't change. After losing my son and dealing with my own mental health has been a project within itself. Going back to working a full-time job, trying to pursue my education and dealing with my personal life and also being a mommy can be overwhelming.
I used to also receive government assistance, that I no longer receive and adjusting to that has been a little difficult at times due to the high cost of living. Overall, I am doing the best I can. I also feel that we all are doing the best we can to survive with our little ones. May God bless us all.