Money is a necessity for us all.  However, it’s not always about how much we have but what we do with it that mattes. Knowing how to budget and manage money is the most important factor. Many times, we hear of celebrities who lose all their riches or come very close to it.  For example, Toni Braxton, Allen Iverson, MC Hammer, Meat Loaf, Fantasia, Willie Nelson, 50 cent, Burt Reynolds, and the list goes on. At times, when we hear of our favorite celebrity in financial strains our feelings may be conflicted. We may feel sympathy that they are in a bad situation, but at the same time feel perplexed by how they could lose so much. Toni Braxton filed for bankruptcy twice, in 1998 due to label conflicts, and then in 2010 as a result of developing lupus and becoming unable to perform under contract in Las Vegas .She talks very openly about this on the reality show that she has along with her sisters Braxton Family Values, Season One. Braxton, as we can see, was able to make a come back twice, but that is very rare. Sadly, many never bounce back, and they become memories that live in the back of our minds.

Our financial health is just as important as our physical or mental health. Being healthy financially adds to our overall happiness and gives us a better outlook on life. The key to living a financially secure lifestyle is to save. It’s imperative that we are disciplined enough to save. A common practice is not only setting aside money to save, but also having an emergency fund of at least $1000.

The way to save, and the start of building wealth is to make sure that money is set aside from each paycheck in a savings account first.This means that before any other bill is paid, we set aside money just for saving. Saving money is just as important as paying the rent or mortgage. We don’t want to fool ourselves by believing that we can pay bills, buy groceries,pay for gas, and then save. This is simply not a practical approach for most of us. Putting aside money must come first.

One way to save is to have the funds directly deposited from our paycheck into a savings account at another institution other than where we primarily bank. Good savings principles to live by are the 50/30/20 rule which divides your budget into three areas: needs, wants, and savings. Investopedia explains it this way “Needs are those bills that you absolutely must pay and are the things necessary for survival.These include rent or mortgage payments, car payments, groceries, insurance,health care, minimum debt payment, and utilities… savings includes adding money to an emergency fund in a banks savings account, making IRA contributions to a mutual fund and investing in the stock market… wants are the things you spend money on that are not absolutely essential, “ Some have found better success following and 80/10/10 rule. No matter which ratio we select, the important thing is that good budgeting is put in place.

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National Domestic Violence Hotline 800-799-7233

National Coalition Against Domestic Violence 303-839-1852,

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Information for individuals fighting addiction due to victimization of domestic violence or due to other causes:

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I'm a independent author and my debut novel is called Let Mia Tell It, available on Amazon and Kindle

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