Financially Secure, We All Want It!

After my latest poll about the stuff that is hard in your life, you all voted that being financially secure is a tough topic so I decided that I would share my story and also give you some ideas on how you can be well on your way on being financially secure.

My Journey to Becoming Financially Secure

If I told you that just seven years ago I was on WIC, Medicare, and dangerously close to bankruptcy would you believe it? In 2014 I went through a divorce and at the very same time I was trying to run several brick and mortar shops. The shops were doing pretty well, but as with any business, if the owner hits a personal slump, the business will feel the heat as well. Honestly, I was just not in the mind space to keep pushing through with the hard stuff life was throwing my way.

At the end of my marriage, it had come painstakingly apparent that it was over and I could have made the decision to stay for the sake of having two incomes but I knew deep down that this decision would cost my boys a healthy family. While my ex-husband and I are great at co-parenting and are friends now, we just didn’t work out as husband and wife. We both knew it. And while I am speaking for myself, I can imagine that for both of us, there was this element of not being completely fulfilled and feeling a bit stuck when it came to financially living independently. Ultimately, my boys knowing by seeing what love and affection truly is in a marriage took precedence and so the decision was made to part ways.

At the time I was trying to run several stores, take care of my sons, and keep a household together financially all which required an income of two people. I knew that a divorce would be a huge financial change but I could never be prepared for how nearly impossible it would be to do it alone. Eventually I had to swallow my pride and apply for WIC and government health assistance. This really helped me out but ultimately, it just wasn’t enough if I was going to keep my home. I had to make a decision quickly.

I educated myself on what bankruptcy really was and decided I needed to make one really big last ditch attempt to avoid it if at all possible. I scoured the internet, researching ways to make money online and in my community. Many great small business ideas popped up that peaked my interest; cleaning houses, yard work, party planning, website design, teaching English with an accredited TEFL diploma so many ways to quickly launch a small business and begin making money on the side while I continued running my shops. In the end, I took several online courses to learn how to launch successful advertisements with Facebook and Google and began helping local businesses redesign their websites and advertise online. I also picked up some house cleaning jobs on the weekends. My financial situation quickly began to improve and through it all, I started to pick up new skills that have helped me with all of my future business endeavors.

The moral of this story is, financial stability can be crushing when you don’t have it but you will never attain it if you don’t find a way to bust ass to get it for yourself. I don’t mean to sound harsh, more so I mean to throw outs some tough love and motivate. I have complete empathy for each and every one of you. I truly know the extreme anxiety and feeling of suffocation that comes along with worrying about groceries or a mortgage when you have less than $100 in the bank account. The good news is, there are so many ways that you can make money without ever leaving your home. One of the many things we have all learned through Covid! All you have to do is consider your strengths, the things you enjoy, and get to work carving out your financial future because there is enough money to go around. First, you have to find it and then you have to stick with the grind until you fatten your bank account.

Brainstorming Activity for Becoming Financially Secure

• Make a list of all the things you enjoy doing
• Make a list of all the things you are good at
• Make a list of your strengths and skill set
• Compare the lists and pair up the activities that you enjoy, the things you are good at, and your strengths/ skill sets to see if there is a potential small business that could come out of it.
• Now, GTS (Google that shit)! Research what other entrepreneurs are doing. Look for online courses to help you brush up on your expertise.

Business Ideas Small Scale

The idea of starting a business can be daunting, but it really doesn’t have to be, you can start a small scale business and work diligently to grow. I really like Shopify’s latest list of small scale business ideas. So many of these require little to no money and can be launched overnight. For example, you can set up a Shopify store to design and sell print-on-demand graphic tees.

Handmade goods are making a huge comeback with boutiques and small shops preferring local handmade over manufactured items. Perhaps you have a knack of making jewelry, candles, or other popular items. Make a small collection and set up meetings with popular shops to wholesale your goods or even display them on consignment. Note, if you are going to go this route, you need to make sure your brand logo and design is on point visually.

Are you awesome at creating content? Many businesses want to focus on their social media but have zero time to do so. You could pick up several local business clients for anywhere from $500-$2500 a month, depending on your offering, and build a pretty profitable business within a month, with NO OVERHEAD.

Financial Advisor vs Financial Planner

I realize that many of you may not have the time, or desire to start a new business, I have learned as of late that many of us, including myself, have not properly optimized our financial strategy. While this doesn’t crank in a lot of cash, it can help you cut back, save, and generate retirement money for the future. This is when an expert is needed. As you all know, this year we have been hit hard with legal fees and that in itself can be strangling. I decided to have our finances evaluated which has done wonders for deactivating the anxiety that swirls around feeling financially unsafe and for creating a plan that is both affordable and perfect for the health of our financial future.

The first question I had when exploring this route was what is the difference between a financial advisor and a financial planner. The terms “Financial Advisor” and “Financial Planner” are often used interchangeably, but they can have different connotations depending on the specific role and services provided. Here are general distinctions between the two:

1. Financial Advisor:
   • Scope of Services: Financial advisors provide a broad range of financial services, including investment advice, retirement planning, estate planning, insurance, and overall financial guidance.
   • Qualifications: The term “financial advisor” is more of a generic title, and individuals with various qualifications may use it. Financial advisors may hold certifications such as Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), or have other relevant credentials.
   • Compensation: Financial advisors can be compensated through fees, commissions, or a combination of both. Fee-only advisors charge clients directly for their services, while commission-based advisors may earn a commission on financial products they sell.
     
2. Financial Planner:
   • Scope of Services: Financial planners primarily focus on helping clients create comprehensive financial plans. This includes goal setting, budgeting, investment planning, retirement planning, tax planning, and estate planning.
   • Qualifications: Many financial planners hold the Certified Financial Planner (CFP) designation, which is a recognized standard for competence and ethics in the financial planning profession. However, not all financial planners may hold this specific designation.
   • Compensation: Financial planners may charge clients a fee for their services, and some also receive commissions for selling financial products. Fee-only financial planners are compensated solely through fees and do not earn commissions.

In summary a financial advisor is a broader term that encompasses professionals providing various financial services, including planning. A financial planner, on the other hand, specifically emphasizes the creation and implementation of comprehensive financial plans. In my opinion, when it comes to a dire need to become financially secure, a financial planner is the way to go.

Affordable Online Help

If a financial planner is just out of the scope of your budget, Earnup is another option. Recently I partnered up with EarnUp to check out their services and I was pleased with the convenience and price of their plan. Earn up helps you to fight bet, grow your savings account, and cut interest fees.

I hope this info has been helpful for helping you navigate the Hard Life Stuff when it comes to financial security and money. I would love to hear more about your hardships with financial security in the comments below, or if you have any suggestions for all of us, we welcome those below too!

Please Note: I always strive to provide accurate and helpful information, but just a quick heads-up—I’m a blogger, not a doctor, lawyer, CPA, or any other kind of certified professional. I’m here to share my experiences and insights, but please make sure to use your own judgment and consult the right professionals when needed.  

Also, I accept monetary compensation through affiliate links, advertising, guest posts, and sponsored partnerships on this site, however I am very particular about the products I endorse and only do so when I am truly a fan of the quality and result of the product.