Being financially irresponsible in my twenties taught me lots of things. Recovering from the choices I made has been a long road and the journey is far from over. Although I’m no financial expert, I think it’s important to be open and honest about money especially within the African American community. We have lots of buying power and influence, however, we don’t always make the best choices when it comes to money.
In my financial journey I’ve found Glinda Bridgforth’s books very helpful. She has practical books that allow you to quickly develop habits to create a budget, improve your credit score and save. I also love my budgeting binder. It keeps track of my spending; it houses my budget and helps me to manage my money overall. The envelope system is also great for money management. It can be tedious at first, but once you get use to it, it’s very beneficial.
I hope these tips help or add on to systems you already have in place. Feel free to leave any money management tips or share your financial story below.