(This is a guest post by Winnie Caldwell, founder of Booked Enterprise LLC and co – founder of Books N Bros LLC)
“Just create a budget!”
These words were first spoken to me at 20 years-old when I was ignorant to the term: budget.
There is a repetitious story told that millennials were not taught financial literacy. Unfortunately, as a fellow millennial, many of us do not know how to manage our finances well enough without ‘robbing Peter to pay Paul’. To change my lack of knowledge, I began researching the broad topic of finances.
Personal Finance Contributor Michael F. Kay wrote in an October 23, 2018 article “When It Comes to Your Finances, Know What You Don’t Know” published on Forbes.com, “The fact is, there is more you don’t know than you do know. The problem is, we hate and avoid dealing with that issue. The whole notion of the unknown just rubs us the wrong way. But piloting your financial life is not the same as learning how to brew beer, repair a dishwasher, or learn how to play piano. Financial decisions are wrapped in our beliefs, our fears, our dreams, and are complex, especially because there is a high degree of subjectivity to decision-making. After all, your goals are unique to you and your family. The choices you make are specific to you and your situation.”
Most of my adult life, I have experienced much anxiety with finances – much of it stemming from not being the best at math as a child and using money frivolously as if it literally falls from trees. At 29, I found an outlet to help me work through my financial anxieties and mistakes.
I became part of a financial literacy community.
During the summer, I joined one of the most impactful Facebook groups I’ve ever experienced – The Broke Black Girl, founded by Dasha Kennedy, a private online community of women which provides information on how-to: build and/or repair credit, own a home, travel on a budget, start a small business and much more. Since joining this group, I have learned so much about how to become financially stable. The best part is I even improved my credit score!
Joining a group of women who face the same fears about money management made me more at ease instead of running away. I realized I could not do the work alone – I needed a safe place where I could express my dilemmas and receive helpful financial advice.
Do you have tips for overcoming anxiety of finances? Share below!