The Sovereign Life Podcast

Have you every blown your budget and not known what to do to get back on track?

I HAVE TO...

In this episode, I am going to be sharing my top tips to get over your excessive spending!

Take the first step to getting a better picture of your money by watching this episode...

Watch exclusively on if you have cable or hit the link our bio to stream live on YouTube

Do you want to have a better outlook on your finances?

In this episode, shares a money management system that can help you get on track this year!

Even if you’ve tried to be more aware of what’s happening with your finances before, TJ share his insights to help the every day individual as well as the small business owner.

Watch exclusively on if you have cable or hit the link our bio to stream live on YouTube

personalfinanceeducation

Now there are some things I wish I knew when I first started college and started being responsible for my own “bills”.

These tips would have helped me from playing Russian Roulette with debit card in my 20s 😮‍💨

If you’re a college student who is about to start having to manage your money on your own soon.

OR

If young adult who is currently trying to figure out this money management game.

This episode is the one for you!

Watch exclusively on if you have cable or hit the link our bio to stream live on YouTube

Are you ready to start investing on your own but don’t know where to start?

In this episode, shares an investing blueprint every beginner can use to start their investment portfolio today!

Even if you’ve been investing for years, Mandela drops plenty of gems to remind you what you should be doing as you build generational wealth through the stock market.

Watch exclusively on if you have cable or hit the link our bio to stream live on YouTube

ICYMI: The Sovereign Life premiers on on Monday, January 31, 2022, at 8 PM (Atlantic)

If you or someone you know are looking to manage your money better this year, click the link in my bio to subscribe to Channel 82's YouTube Channel to watch live!

👀 Now has been THEE HARDEST lesson to learn on this personal finance journey.

Coming from a limited mindset that saw each paycheque as an opportunity to spend it ALL before the next one came in cause “I didn’t know if I’d see that amount of money again”.

Coming from a limited mindset that didn’t have faith in the Creator or believed that unlimited abundance was accessible to me.

Coming from a limited mindset that failed to check my account balance periodically to make sure I was on track to achieve my financial goals AND still be able to live a life Ioved.

😮‍💨

Thank God for GROWTH

🙌🏽

It took me years to change my mindset from being so fixed on what I lacked financially.

It took me years to humbly give gratitude for all that I had in the present.

It took me years to recognize all my needs are always met and I always have enough.

😇

Now, this was not an easy journey but the financial lessons I’ve learned along the way have helped me live a life that is more at ease than it has ever been.

If you’re at a place where your expenses > your income, I was there too! I know exactly how that feels.

Besides frustrating, it’s stressful.

Swipe to see my 5 steps to help you begin to live below your means so that you can begin to breathe easier.

If this helps you, please share it.

The more of us working towards financial freedom the easier it will be for those coming behind us to carry on a legacy of financial healing!

👀 Now has been THEE HARDEST lesson to learn on this personal finance journey.

Coming from a limited mindset that saw each paycheque as an opportunity to spend it ALL before the next one came in cause “I didn’t know if I’d see that amount of money again”.

Coming from a limited mindset that didn’t have faith in the Creator or believed that unlimited abundance was accessible to me.

Coming from a limited mindset that failed to check my account balance periodically to make sure I was on track to achieve my financial goals AND still be able to live a life Ioved.

😮‍💨

Thank God for GROWTH

🙌🏽

It took me years to change my mindset from being so fixed on what I lacked financially.

It took me years to humbly give gratitude for all that I had in the present.

It took me years to recognize all my needs are always met and I always have enough.

😇

Now, this was not an easy journey but the financial lessons I’ve learned along the way have helped me live a life that is more at ease than it has ever been.

If you’re at a place where your expenses > your income, I was there too! I know exactly how that feels.

Besides frustrating, it’s stressful.

Swipe to see my 5 steps to help you begin to live below your means so that you can begin to breathe easier.

If this helps you, please share it.

The more of us work towards financial freedom the easier it will be for those coming behind us to carry on a legacy of financial healing!

👀 Now has been THEE HARDEST lesson to learn on this personal finance journey.

Coming from a limited mindset that saw each paycheque as an opportunity to spend it ALL before the next one came in cause “I didn’t know if I’d see that amount of money again”.

Coming from a limited mindset that didn’t have faith in thr Creator or believed that unlimited abundance was accessible to me.

Coming from a limited mindset that failed to check my account balance periodically to make sure I was on track to achieve my financial goals AND still be able to live a life Ioved.

😮‍💨

Thank God for GROWTH

🙌🏽

It took me years to change my mindset from being so fixed on what I lacked financially.

It took me years to humbly give gratitude for all that I had in the present.

It took me years to recognize all my needs are always met and I always have enough.

😇

Now this was not an easy journey but the financial lessons I’ve learned along the way have helped me live a life that is more at ease than it has ever been.

If you’re at a place where your expenses > your income, I was there too! I know exactly how that feels.

Besides frustrating, it’s stressful.

Swipe to see my 5 steps to help you begin to live below your means so that you can begin to breath easier.

If this helps you, please share it.

The more of us working towads financial freedom the easier it will be for those coming behind us to carry on a legacy of financial healing!

Simplify your budget this year...

One thing I learned in 2021 was that I was doing too much, unnecessarily.

As I reviewed my finances, and my life in general, I realised I was ready to minimize just about EVERYTHING.

I'm not quite a full minimalist just yet but I am being way more intentional these days.

When it comes to my finances, I decided to just have 3 budget categories for my expenses this year.

Truth is:

❌ There is no right amount of categories to have

❌ There is no one method that will work for every season of your life

✅ There is no better time to adjust your budget method than in the New Year.

Here are the 3 budget categories I am using in 2022:

🤑 Survival Expenses: These include both fixed and variable expenses.

🤑 Freedom Expenses: These include both debt paydown and savings goals.

🤑 Thriving Expenses: These include all those "fun" expenses that will help me to live my best life.

How you divide these expenses up is totally up to you.

I intend to use the 50/30/20 rule for my breakdown this year.

Save this post for later and share it with someone else who is looking to get their finances in order!

3 THINGS YOU NEED TO CREATE YOUR BUDGET

I know when you first go to create your budget or update it sometimes you forget what exactly you need to complete it.

If it's been a while since you last looked at your budget, you may be trying to remember what you did last time to get your numbers.

Hey, I've been there too!

If it's the first time you are creating a 'real' budget for yourself, you might have no clue where to go to get your numbers.

Did I already say, "Hey, I've been there too!"

Here are the 3 key things you need to create your budget:

💰 1) Revenue: These detail the money you will receive.

Examples include Paystub, Bank Statement

💰 2) Financial Goals: These outline what you plan to save or pay down.

Examples include Debt, Retirement Planning, Investments

💰 3) Expenses: These show how much you spend.

Examples include Rent, Utilities, Groceries, etc.

Save this post for later.

Especially for that time you go to update your budget and ask yourself, "Now what was it that Terri said I need again?"

THE BEST ADVICE I CAN GIVE YOU ABOUT BUDGETS IS...

If your expenses are greater than your income the first time you do your budget, THAT'S OK!

When I first did it back in 2014, this was my exact reality.

It discouraged me and I actually waited to get clear on my financial picture another 3 more months.

Tis no bueno!

I understand that feeling of "failure" when you see your spending > your income.

You need to get a clear picture of where you are today so you can plan for a financially secure tomorrow!

The first time you do your budget doesn't have to be perfect.

It doesn't even have to include all your expenses.

Just commit to having a first pass at it. Take a break. Come back the next day and complete.

Your budget is a working document that will evolve as your lifestyle changes.

Save this post for later and come back to it every time you need this reminder!