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Sharon McCutcheon
Career

Four “Black-ish” Ways to Make the Most of Your Money This Month

Mikyah Henderson
Amaiya Mitchell
This article is written by a student writer from the Her Campus at NSU chapter.

Although Black History Month may be drawing to a close, it is still the perfect time for you to focus more on building up your own personal wealth and practicing collaborative economics. Here are some of the “Black-ish” ways you can carry on the tradition of financial excellence and abundance this Black History Month.

 

Start Your Spring Cleaning Early

Your closet, shoe drawer, storage bin, and even your jewelry box. They all contain some items that you have been able to be without this semester. Rather than keep them and take up space, dedicate at least one day during Black History Month to do some early spring cleaning. Keep a close eye out for any new or gently worn clothes, shoes, or jewelry that you could donate or sell quickly. If you happen to sell any unwanted or gently used items, use your earnings to set a goal be it short or long term like paying off a credit card, build up your savings, or look into investing.

Try the 24-Hour Rule

In a time where you can buy clothing, electronics, and even do your grocery shopping online than in-store, it can be very tempting to visit your favorite online store and see “what’s new”. Even if you don’t actively shop, it can be difficult to budget when that cute floral top that temps you on Instagram, practically begging you to buy it. The solution to avoiding impulse spending? Set a 24-hour limit before hitting that “checkout” button. Chances are by the very next day, you’ll decide that you never needed that item, to begin with.

Keep Yourself Motivated

Ask yourself this question, “Why do I really want to be financially successful?” Try to acknowledge each financial milestone that you take; whether it’s paying off your $300 credit card balance or taking care of those daunting student loans.  it makes for progress and also makes for a step in the right direction. Once you set your financial goal, be sure to stick to them so you can achieve your financial success and get closer to that Money Bag!

Set Up Your Own Budget

If budgeting is not really your best friend, it’s quite understandable because even the thought of trying to stay on or under budget can be overwhelming. Just know that it’s okay to take things to step by step. If starting off small is your best pace, then try setting up a starting budget whenever you go out on your shopping endeavors. While also doing this, be sure to try and keep track of how your spending. If you know that you have a set budget of $500 and your planning to purchase a new spring break wardrobe, then you may want to keep that number (and possible valid discount codes) in mind before you checkout since prices can rack up to more than what you would think. 

While keeping these 4 financial essentials in mind, it can ensure that all your money goals and moves that you may have are also aligned with the abundance and excellence that comes from celebrating Black History Month. 

Mikyah Henderson is a young collegiette woman who is not hesitant to take her creativity to newer limits. As a sophomore General English major at Norfolk State University, she discovers Lyman Beecher Brooks Library as her home along with letting her creations on paper take flight. After being a drama club member at her public high school in Highland Springs, Virginia, she learned that it is okay to be unique and to never let stereotypes defy anything that her future will foretell. One day, she hopes to own her own practice as a Family/ Marriage Counselor for relationships in need of guidance and support as well as taking her love for fiction to even greater heights
I am a Mass Communications General Broadcasting major at Norfolk State University. My goal is to become a media influencer and to inspire many in my position.