Hopefully, you read 10 Things Every Single Mother Should Know About Money Management Part I and 10 Things Every Single Mother Should Know About Money Mangement Part II; if not, read those first:-)
#7 Your Credit Score Is Important–And It’s Not
Almost every financial guru will tell you that your credit score is uber important–after all, there are so many consequences of having bad credit, including:
- BEING DENIED EMPLOYMENT BASED ON POOR CREDIT:
You might get denied employment based on dis-qualifiers on your credit report, which each employer determines individually. And, while Federal Law allows employers to check your credit during the employment process, these 10 states have outlawed employers from doing so.
Most states, however, allow employers to check your credit. In states that allow these types of credit checks, an employer MUST get your signed consent. BUT employers do not get all the information on your credit report. Your credit score, for instance, is not shown to employers but other disqualifying criteria might be.
In this post, you will learn:
- Emergency Funds: Why You Need to Start One Today
- Emergency Funds: What Are They?
- Emergency Funds: The Benefits of Having One
- Emergency Funds: What the Experts Say
- Emergency Funds: How Much Should You Have?
- Emergency Funds: 10 Easy Ways to Fund Your Emergency Fund
EMERGENCY FUNDS: WHY YOU NEED TO START ONE TODAY!
There are no guarantees in life–except death, taxes and EMERGENCIES! Everyone knows that Murphy’s Law can happen to anyone, at any time.
Life will happen to you, so why not plan for it?
Plan for unexpected emergencies, you say? Uh, yes!
You might not know what will happen; you might not know where or when it will happen, but you know that some kind of emergency will pop-up. Period.
And an emergency or unexpected expense can be extremely stressful when you don’t have an emergency fund.
(4) Your Money Mindset Determines Your Wealth
Ever heard the saying mind over matter? Well, when it comes to personal finances, it’s MIND OVER MONEY! How you think, feel and use money is determined by your money mindset. Whether you’re a tightwad or a spendthrift, it all starts with your thoughts. Negative self-talk, especially if it is money related, is the quickest way to self-sabotage your personal finances.
Aside from your kids, money may be top of mind most of the time. Taking control of your finances can be a daunting task, but it doesn’t have to be. With a little help, you can get useful information on how to make, manage, save and grow your money.
HERE ARE THREE PERSONAL FINANCE EXPERTS FOR SINGLE MOTHERS (not listed in any particular order):
#1 Dave Ramsey – (Podcast/YouTube) The sometimes controversial author of the best-selling and highly rated author of “The Total Money Makeover” and “Financial Peace University” has a podcast and a YouTube show, The Dave Ramsey Show . On this show, people call in with real-life money issues, asking for advice on how to turnaround their financial situation. Sometimes these cases are extreme, like being $400K in student loan debt or paying $1K a month for a car note. You will learn a lot from watching this show or listening to the podcast on a regular basis.
Five Side Hustles You Can Start Today:
Updated 06/16/18 – new videos
First, let me define what a side hustle is and what it isn’t, as far as I’m concerned, and how I use it on THIS BLOG:
The term side hustle comes from the African-American community, and it was used to describe side work for extra money that was entrepreneurial in nature.
So, a part-time job is not considered a side hustle. With that said, when I use the term “side hustle” on this blog, it’s with the original meaning in mind: a way of making extra money outside of your regular job that is entrepreneurial in nature.