Save money? WHAT money? Tips for Saving $$$

 

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Dealing with finances has always been stressful for me. I’ve always envied those who could face their money head on and make it work for them. Of all of the Torres5, my little sis is the one who is the most financially literate. One of my BFFs, Angie, is also good with dealing with money and, as I asked her for help in learning how to save and invest my money, I ended up laughing out loud with some of the things she came out with.

All I remember telling her was, “if someone would have broken it down like that to me back in the day, my life would have been totally different…seria millonaria!’

I’m kind of afraid to learn how to save. Especially as I have been living at the bare minimum as I try to establish my business. But as Angie told me, “my mom managed her money really well, y eso que trabajo en el fil!” We all know that working the fields is one of the hardest jobs that exist; field work is also one of the lowest-paid rarely with any benefits. And here we are, making likely more money than field work, and all up in debt.

I was laughing so hard at Angie’s common-sense way of saving and mad at myself because I couldn’t write it all down! (as I was driving), I will present some of Angie’s straight-up saving tips from time to time. You will see that learning how to save money requires commitment to the bigger picture, being there for yourself, not letting yourself down and, more important, living within your means. Aaaay!

It may help you to write out in detail what you want to save that money for: a new car? a house? Pay off outstanding bills? Whatever your goal, write it out. As my business is seasonal, I’m right in the busy season now, and my slooooooow season is during the latter part of the year, so I’ve decided that I’d like to start my 4th Quarter Fund, to help me keep afloat in October/November/December.

Now, you’ve got to figure out how much money you need to survive each month – rent, car, gas, phone, insurance…only the things you need to handle on a regular basis.  Add it up.

After you get your check, pay yourself. Pay yourself, how? Pay yourself the amount that you designated as what you need to live on each month. Any extra amount, even if it’s $5 or $10, start saving it.  You don’t really need it right now because you just paid your bills, right?   This is where the committment comes in.

Angie’s take on the matter – ‘it’s so easy! Look at it this way: I can go to Nordstrom pero tambien alli esta la Ross!’ LOL In other words, economize. You can find cool clothes, housewares, and in my case purses at discounted prices at Ross or Walmart or even the ‘segunda’ (Goodwill). You don’t have to completely deprive yourself of nice things, but ask yourself, ‘do I really need to spend this much?’

Another way to check your spending: get all of the receipts together of everything you buy, and add up those receipts where you bought fregaderas/yonque/juzguerias/stupidass things that you didn’t really need then or now. I did that and found that my receipts showed the following in this order: gasoline, fast food, Starbucks, groceries. Not proud of so much fast food and Starbucks so I now see where I can cut back.

I asked Angie if it gets easier once you start, YES was her answer. The biggest benefit was the freedom from worry, why? 1) Your bills are paid and 2) slowly but surely, you are working toward the larger goal of financial freedom.

TRY it, do it for you, you can get your finances back in order, one coin at a time. We are too smart to be this stupid when it comes to money.

I Have Nothing, Yet I Have Everything

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When I arrived at the grocery cashier to pay for my items.  I had cash, but not enough to pay for the groceries.  I needed like $10 and change that would be charged to my ATM card.    And then, just like that, my ATM card was declined.

Luckily, I ended up having cash in my purse.  That was GodJesusVirgenOfG working it for me.  As I left the store with my groceries, I was calm on the outside.  On the inside, a war was raging.  I was near tears…of embarrassment, anger, frustration.  Oh and I did that feeling sorry for myself thing too.   Whyyyyyy?  Again?  You name it, I thought it.

However, by the time I arrived to the Jeep, my fit was over, I remember hitting the steering wheel a couple of times to get out the remaining rage and then I was done.  It was time to have my ‘Come to Jesus’ Moment.  I turned on my music and Sting’s song “Fragile” comes on, perfect song to get me thinking.  Granted, “Fragile” deals with the destruction of our planet, and my issues are but a speck on the face of the earth.  Somehow this realization makes my dilemma more manageable.  I have been thinking for the past couple of hours now, as I cooked dinner for Dad in this super-intense heat, kept repeating the song, I sweated out my rage, and willed myself not to take out my mess on my Dad.  You’ll be proud of me, I did not yell at him at all.   Now as I sit here writing, barely two hours later, ready to connect with JesusGodVirgenOfG to help me out of this desmadre, I’m proud of myself that I have taken more responsibility for my fit-throwing life and, at this moment, I know only one thing:  I have nothing, yet I have everything.

I don’t remember being this financially challenged EVER.  I also don’t remember being this CALM about it either.  When I decided to live my life “freelance” style,  I was nervous.  Gone was the security, gone was the majority of my disposable income, but, happily, gone was that gnawing feeling that something was either left undone or not done right at all after a weekend of events.  In my business, something seemingly innocent like finding pictures of a banner not hung just so was cause for straight-up alarm and could make my Mondays feel like I was being rolled over on coals of fire and could convert a perfect event into the latest nightmare.

Best decision I ever made?  As pobre as I am at this moment, I believe I made the right decision.   My personal drama made it necessary for me to step back from my industry, and, once I had a summer completely off, where I no longer had to work every single weekend, every holiday, and arrive late or miss events with my family, I knew that GodJesusVirgenOfG had put the more important things of life in front of my face:  familia, friends, writing, rest, and relaxation.

I tell my media and event colleagues that I am not the Carmen of back in the day:  the one who SLEPT at work, living and breathing events 24/7 to make events happen.  Don’t get me wrong, I can and do kick ass at the events that I choose to work on, I will never lose that competitive drive completely I guess.  However,  I also remember the Carmen who would work when she was beyond exhausted and almost drove off the Sunol Grade before she, thankfully,  woke up, I remember having to make the very painful decision to leave one job after another in search of my peace.    Little by little, I’ve reconnected with my familia/friends and now live a relatively peaceful life.

Now that my priorities have completely changed, I still need to be able to get over myself and re-do my financial life.  First,  I am done screaming ‘SonsaTontaPendeja‘ at myself – there is no way that I have been the first (or the last) person to have an ATM card declined.  Second, I gain nothing by blaming others for my lack of feria.  Third, it is essential that I get my sense of aventada-ness and hustle back front and center and do what I have always done:  worked it from the minute I put it in writing.   This is not the place for my InnerChillona…it is time to completely work it as my InnerChingona would do.  Find income. Invest in my future. Create more savings. Keep Working That Budget.

My business is seasonal.  As I have no millionario or sugar daddy waiting in the wings with a bolsa de dinero (cash), it is imperative that I get back on my own two feet in order to survive today as well as the slow period (November thru February).  I am intelligent, resourceful, with marketable skills that would be an asset to many.  Now I have to get my huevos together and these suggestions have helped me… maybe they’ll help you as well.

From Ginger Dean, Founder of ‘Girls Just Wanna Have Funds’

How Do I Get Back And Stand On My Two Feet? 

Self-sufficiency is sexy.

Go back to school. Start there. Did you finish college or high school? Do you want to go back to graduate school? What are you passionate about that requires a degree or certificate? Do you need to go back to school? These are all questions that you have to ask yourself if your path to returning to the work force involves going back to school.  For me, it’s all about closing the circle:  Passing the State Interpreter Exam and I have already started researching getting a second BA Degree in Spanish from all of the units that I took at SFSU for Interpretation and Translation, I also want to take some basic design classes to keep up with the young uns in Marketing.  

Start a business. Along the same lines of going back to school, what are you passionate about? Do you see a need in the market that hasn’t been filled? How can you work to fill that need while creating income for yourself? This can include producing your own stuff to sell on Etsy or Ebay as well.  My ideas are good, my ideas fill a need, a lot of this is already in progress, now it’s get the hell out of my own way and really make this happen.   This is the scariest part of moving forward, because there’s nothing left to say, it’s time to work it.

Renew or update your skills. If you’re in a field like myself, then you’ll need to make sure that applicable licenses or certifications are always up to date as allowing them to lapse costs more time and money. Talk to the licensing or certification board within your field and find out what you need to do in order to maintain your skills in this area. If you plan on applying to jobs that require a license or certification then you’ll need to make sure this is up to date. Attend workshops and conferences in an effort to remain up to date with the current trends in your field as well. This also gives you the opportunity to network with others.  My goal of passing the State Interpreter Exam is still very much real and I’ve now added other skills and licenses/certifications that I will need in order to become competitive in my own business.  Pobre or not, I am willing to invest in my new future.

Find Your Sisterhood of Success AKA “Personal Board Of Advisors”

Who supports you professionally when it’s time to make hard professional decisions? Do you have a group of women or even one woman who you can turn to? I take that back, it doesn’t have to be a woman. Anyone who supports you and is able to provide professional guidance will do.  Women are more successful when they have mentors guiding them both personally and professionally. Especially when women mentor women. Great things happen!  This one I loooooove!  I’ve had what I call my Personal Focus Group for years… tons of friends/colegas who are experts in my industry, good friends, in business for themselves, and my badasses who work it Corporate America, Government, and the Latino community.  I’ve also started reaching out to those who can help me as I navigate my way to my new future.  

All of the above is true investment in my future which will require un chingo de hustle and all of the confidence that I can muster.   Can you believe that I actually had a conference call for another contract after my ATM declined, a sign for sure…it may be just what I need right now and the only way that I will know for sure is to put my butt right back out there and pray that JesusGodVirgenOfG see things my way.

Sometimes it take losing everything to realize that all is not lost, even though, at this moment, I have nothing (material), yet I have everything  – family, opportunities, creativity, and dare I say it, confidence.

It’s about time.

Confidently working toward that day when the ATM always goes through LOL.