As we enter fall, I welcome the change of seasons! As the leaves on the trees change colors and fall away, the trees began to look naked and barren. This is how many of our pockets and bank accounts will look if we don’t learn to manage our finances: naked and barren. Just as each leaf on the tree matters, so does every penny that you have. Every penny counts! We should aim to have bank accounts that are as expansive as the fullest tree at its best, not like the naked tree barely clothed with a few sparse leaves at winter. We don’t want bank accounts so sparse that we can easily count the few dollars left swaying in the wind like leaves on an elm or oak tree in winter.
We often say, we don’t have money for this or that but often we do. It’s just that we’ve spent that money on something else that was more of a priority at the time. So, let’s crunch some numbers. Let’s add some figures so you can see how pennies (or dollars) add up. Ready? Set! Go!
· $5 Starbucks coffee/tea Monday through Friday on way to work: $25 a week x 4 weeks = $100 month. My cell phone bill is less than $100 a month. Just saying. Every penny counts!
· $30 Friday night Pizza and pop for the family: $30 a week x 4 weeks = $120 a month. The budget plan DTE bill for a client is $128 a month. Just saying. Every penny counts!
· 5 for $5 Wendy’s meal twice a week: $10 x 4 = $40. Gas for the car is probably less than $40 a week for most people especially those working at home. Just saying. Every penny counts!
· $25 every two weeks for a manicure: $25 x 2 = $50 a month. You can open an Emergency Savings account for less. Just saying. Every penny counts!
· $5 a day on lottery tickets: $5 x 30 = $150. Monthly water bill, cable bill, auto insurance …. you get the point. Just saying. Every penny counts!
· $20 Happy hour/drinks with friends every Friday: $20 x 4 = $80. There goes another cell phone bill, money towards groceries, a couple of doctor visit co-pays, or how about the start of an Emergency Saving Account…a Rainy-Day Fund. Just saying. Every penny counts!
· $30 video game every month. You could choose to only spend $15 on a game and save $15 for an Emergency Saving Account or Christmas Gift Giving or any number of things. Just saying. Every penny counts!
You get the point! Right? Every penny counts!
When you get to pick and choose how to spend your money, choose wisely. Prioritize “needs” over “wants” and then continue to prioritize the “wants” because most of us don’t have access to an unlimited amount of money. Make saving a priority! Don’t be like the elm or oak tree in winter, naked and barren of leaves. Don’t let your pockets be naked or your bank account barren. Just as every leaf on a tree matters, likewise every penny in your pocket counts. …Every penny counts!
****The next workshop Money and Banking Basics is Tuesday, October 26, 2021, at 6:00 pm. Please feel free to contact me to register for the next workshop. We would enjoy having you join us!
Stay tuned…. Be safe…. and…Be empowered.
Bettie Cunningham, LBSW
Disabilities Advocate/Certified Financial Coach/Counselor
Office: (313) 532-7915, ext. 204 Email: bcunningham@thearcnw.org
