Ok the school year is picking back up ladies and here are five quick tips to start off the year on a good note:
1) Review your schedule of classes and set academic goals accordingly. Starting with a GPA goal that is a little higher than the GPA you ended up with last year is usually a good idea. Thinking in terms of semesters also helps to make the year seem less overwhelming. Make sure you set your priorities for the year and figure out what is more deserving of your time this year.
2) Back to School Shopping! Be a smart shopper and try purchasing some items on-line, through discount stores like Rugged Warehouse or Marshall's, and check out thrift stores for accessories. This is also a good time to clean out your closet and donate to charities like www.IvorianHope.org
3) Based on your academic schedule, see if you have some room to fit in extra-curricular activities this year where you can learn something new, socialize, or do some community service. If your parents allow you, this could be a good time to get a head start on finding part-time jobs for winter break.
4) Scholarships! Definitely start browsing the internet and check out some search engines like Fastweb.com to see if you qualify for any scholarships this year based on your grade level and be sure to take note of any important deadlines. If you're a senior and you will be filling out the FAFSA form for college financial aid, be sure to take note of when your counselor will be holding sessions to discuss college preparation.
5) Enjoy your last bits of summer. Get as much rest as you can so that you can be focused and positive. Try to get mentally prepared for the year ahead.
Have a great year!
Wednesday, August 24, 2011
Friday, August 12, 2011
Buying My First Home
I wasn't going to write about this particular subject because purchasing my home was a very personal objective for me. But since we'll be focusing more on financial management in our sessions this Fall, I think it'll be beneficial to talk about how and why I did it.
Why I Did It
Owning a home became a real goal of mine when I was 17 and took a financial management class at my high school. I wish more schools offered this course, but this is where I learned the basics to everything I know about becoming financially secure. In this class, Mr. M shared that building your financial portfolio while you are young is important because it is the period in our lives when we have the least amount of responsibilities. Of course this varies for some people, but for me it was very true. The only thing I was responsible for at age 17 was paying for my own cell phone bill. The idea of being able to lay the foundation for my financial future was so appealing to me because I didn't come from a rich family, but I needed something to which I could aspire -- a tangible end that would keep me motivated. Owning a home, became that objective but the idea of owning a home didn't become real to me until I graduated college. I had saved a little money while in undergrad but ended up using most of it to facilitate my travels and living overseas for about two years when I finished my studies. When I came back to America and I received a scholarship to go back to school for my Master's, I was not at all enamored by the idea of living in my parent's apartment for two years while I finished school. Not because I did not enjoy living with my parents but because the space was so cramped and it was super expensive to live in that area. So I set my eyes back on the prize.
How I Did It
I met with a lender from an established bank and explained my situation and we figured out my plan of action. I had pretty much depleted most of my savings and since I had received scholarships to cover my undergraduate studies I had established absolutely zero credit. Because of my mother (for reasons I'll expand upon in another blog) I was so averse to having bad credit that I just stayed away from anything dealing with the word credit from the time I turned 18-- no credit cards, no student loans, not even a Target store card. To my dismay, the lender explained that not having credit is almost as bad as having poor credit history because it would be too risky for a bank to loan a lot of money to someone to purchase a home that had no evidence of being able to pay back a loan. So, I went to one of my favorite stores, rhymes with shoredstrom, and I got my first credit card. Every month, I purchased me or someone else a nice little gift and I paid down the credit card bill every month on time. Oh, I also forgot that I needed something very important. In order to purchase a home, you need to have decent savings for the down payment on the house and you need to have an INCOME! (Have no fear ladies, I 'll do other blogs about saving for a down payment and how to get a job, and establishing good credit). OMG, this meant that I was going to need a job ASAP. The lender informed me that the job I needed to get would have to bring in a specific income requirement so that I could qualify for a home of a specific value. Talk about a mission! Finding a job in the middle of a recession was not easy but after about three months I found one. So, while attending school full-time, I worked, built up my credit, saved for the down payment, and started house hunting with a realtor. By the end of the school year I was completely burned out and needed to quit my job but I found a home just in the nick of time. Since I have a scholarship that could also cover the cost of housing, I was able to quit and still make the payments.
So, now I have my first home. It's in the boonies but I love having access to places to go hiking. I can still commute to the city and I enjoy that luxury. Now, if only the air conditioning didn't break down during the biggest heat wave in history :)
Why I Did It
Owning a home became a real goal of mine when I was 17 and took a financial management class at my high school. I wish more schools offered this course, but this is where I learned the basics to everything I know about becoming financially secure. In this class, Mr. M shared that building your financial portfolio while you are young is important because it is the period in our lives when we have the least amount of responsibilities. Of course this varies for some people, but for me it was very true. The only thing I was responsible for at age 17 was paying for my own cell phone bill. The idea of being able to lay the foundation for my financial future was so appealing to me because I didn't come from a rich family, but I needed something to which I could aspire -- a tangible end that would keep me motivated. Owning a home, became that objective but the idea of owning a home didn't become real to me until I graduated college. I had saved a little money while in undergrad but ended up using most of it to facilitate my travels and living overseas for about two years when I finished my studies. When I came back to America and I received a scholarship to go back to school for my Master's, I was not at all enamored by the idea of living in my parent's apartment for two years while I finished school. Not because I did not enjoy living with my parents but because the space was so cramped and it was super expensive to live in that area. So I set my eyes back on the prize.
How I Did It
I met with a lender from an established bank and explained my situation and we figured out my plan of action. I had pretty much depleted most of my savings and since I had received scholarships to cover my undergraduate studies I had established absolutely zero credit. Because of my mother (for reasons I'll expand upon in another blog) I was so averse to having bad credit that I just stayed away from anything dealing with the word credit from the time I turned 18-- no credit cards, no student loans, not even a Target store card. To my dismay, the lender explained that not having credit is almost as bad as having poor credit history because it would be too risky for a bank to loan a lot of money to someone to purchase a home that had no evidence of being able to pay back a loan. So, I went to one of my favorite stores, rhymes with shoredstrom, and I got my first credit card. Every month, I purchased me or someone else a nice little gift and I paid down the credit card bill every month on time. Oh, I also forgot that I needed something very important. In order to purchase a home, you need to have decent savings for the down payment on the house and you need to have an INCOME! (Have no fear ladies, I 'll do other blogs about saving for a down payment and how to get a job, and establishing good credit). OMG, this meant that I was going to need a job ASAP. The lender informed me that the job I needed to get would have to bring in a specific income requirement so that I could qualify for a home of a specific value. Talk about a mission! Finding a job in the middle of a recession was not easy but after about three months I found one. So, while attending school full-time, I worked, built up my credit, saved for the down payment, and started house hunting with a realtor. By the end of the school year I was completely burned out and needed to quit my job but I found a home just in the nick of time. Since I have a scholarship that could also cover the cost of housing, I was able to quit and still make the payments.
So, now I have my first home. It's in the boonies but I love having access to places to go hiking. I can still commute to the city and I enjoy that luxury. Now, if only the air conditioning didn't break down during the biggest heat wave in history :)
Monday, July 5, 2010
Fearlessness!
I used to experience fear so deep it was like an infectious disease that spread throughout every fiber of my being and paralyzed my ability to experience life in its fullness. Fear is an emotional and instinctive response to a perceived threat. Any decent psychologist can tell you that we naturally respond to fear by either our “fight” or “flight” responses; either we confront the fear or we avoid it. I was running for my life! The key word in the definition of fear is the “perceived” threat meaning that the threat may not even be real but the magnitude of the threat and how dangerous it really is or how harmful it really is originates in our thoughts.
So, the real question is never really what are you afraid of, rather, the question is what do you think you are afraid of? Marianne Williamson said “it is our light, not our darkness, that most frightens us. We ask ourselves, who am I to be brilliant, gorgeous, talented, and fabulous? Actually, who are you not to be?” I’m a logical person (most of the time) and it is logical that if the problem with fear is in our thoughts, then it would follow that the solution is also in our thoughts. This is one of those things that you have to address at the root of the problem. Ultimately, the only way to let go of this fear, or perceived threat, is to conquer it boldly with Faith. How does one aquire such Faith? I’m going to do a lot of blogs about specific ways to build your faith, self-confidence, fearlessness, and I don’t want to oversimplify it here but I want you to understand how I came to understand the process.
The bible says that faith comes with understanding. I would venture to say that if you can fear something, you can also have extreme faith. I came to understand that they both work the exact same way. Worry is just a concentrated and perpetual thought and belief about something potentially negative that may be real or imagined. So, by having fear, you have faith that something negative will happen to you. You have to exercise your faith by focusing its attention on things that are positive and harmonious with the person that you were created to be. You have to cultivate a mental attitude that will bring you peace and happiness and these are things we are going to work on together in this blog. It is hard to have faith in something we can not see, especially when we can not see the entirety of the picture but Martin Luther King, Jr. said, “Take the first step in faith. You don’t have to see the whole staircase, just take the first step.”
Watch your thoughts; they become words.
Watch your words; they become actions.
Watch your actions; they become habits.
Watch your habits; they become character.
Watch your character; it becomes your destiny.
So, the real question is never really what are you afraid of, rather, the question is what do you think you are afraid of? Marianne Williamson said “it is our light, not our darkness, that most frightens us. We ask ourselves, who am I to be brilliant, gorgeous, talented, and fabulous? Actually, who are you not to be?” I’m a logical person (most of the time) and it is logical that if the problem with fear is in our thoughts, then it would follow that the solution is also in our thoughts. This is one of those things that you have to address at the root of the problem. Ultimately, the only way to let go of this fear, or perceived threat, is to conquer it boldly with Faith. How does one aquire such Faith? I’m going to do a lot of blogs about specific ways to build your faith, self-confidence, fearlessness, and I don’t want to oversimplify it here but I want you to understand how I came to understand the process.
The bible says that faith comes with understanding. I would venture to say that if you can fear something, you can also have extreme faith. I came to understand that they both work the exact same way. Worry is just a concentrated and perpetual thought and belief about something potentially negative that may be real or imagined. So, by having fear, you have faith that something negative will happen to you. You have to exercise your faith by focusing its attention on things that are positive and harmonious with the person that you were created to be. You have to cultivate a mental attitude that will bring you peace and happiness and these are things we are going to work on together in this blog. It is hard to have faith in something we can not see, especially when we can not see the entirety of the picture but Martin Luther King, Jr. said, “Take the first step in faith. You don’t have to see the whole staircase, just take the first step.”
Watch your thoughts; they become words.
Watch your words; they become actions.
Watch your actions; they become habits.
Watch your habits; they become character.
Watch your character; it becomes your destiny.
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