Escape the trap – A month ago, two friends of mine came up with an idea to set up a small business. I knew one of them didn’t have money, so I thought to myself, “this is not going to fly”. In a few days, the plan was set in motion. How did they raise the funds?
Apparently, when my friend failed to convince her husband to fund the new business she turned to high interest money lenders. Despite her high hopes the business flopped. Now she was in debt, with no income. To make matters worse the interest was compounding. Even worse, her husband didn’t approve all of this. How was she going to escape the trap. I chipped in and rescued her with a soft loan. How was she going to pay me back?
Many women, who depend solely on their husbands for financial support, just inflate the daily budget. Say they need a thousand dollars, they justify a thousand point two and get the money. Then they take the two hundred. Even better, they save and use eight hundred leaving four hundred for what they need. This seems pretty smart and that’s how my friend paid me back. However, I think we, as women, need to empower ourselves. That’s how you will definitely escape the trap.
Obviously, you may be working, but a key area is learning how manage your finances. It is difficult to be successful when you are in the habit of sabotaging yourself. There comes a time when you should stop being pressured into commitments you are not ready for. Don’t gamble away the important things in your life, pressing yourself in a tight corner. Instead create options and spend within your means until you are ready. #shesuccess #ellowmellow