INTENTIONAL SPENDING

Hey there,

Did you catch the last blogpost?

Pause and do so, because it is not something you want to miss. Find it here. 

If you have read it already, then take a seat, grab something or nothing lolx and let’s roll. 

This month, it’s all about money matters and today, we are going to talk about Intentional Spending and do a review of the Smart Money Woman (SMW) book authored by Arese Ugwu. There is a movie version of the book too. It’s up on Netflix, check it out if you haven’t. Are you ready for today? Let’s do this! 

PT: Miss Priscilla Tanko, a 3rd year student of  Kumasi Technical University reading Entrepreneurship and Finance. And oh! A strong SHS girl. 

BM: C’mon now PT. Oh wait! PT? Does that ring a bell?

PT: Oh yeah! It does. Pastor Toure. Hahaha

BM: Haha! Right, right. In case you are wondering who the other PT is, he is the husband of Sarah Jakes Roberts, our mutual pastor crush. The program you are reading in school is very interesting. How has it impacted you?

PT: It has opened me up to how humans behave towards money. Most times, all we want is money, but we forget to ask ourselves how we are going to manage it. Is it something we can handle? Are we ready to account for it? Are we willing to learn how to  multiply it? 

It’s like praying to God for a car while you don’t know how to drive. How are you even going to control the car? I’m not sure we are ready to visit you in the hospital yet. Haha.

BM: Definitely not. In Smart Money Woman, what are some of the spending patterns the characters exhibited?

PT:  There was pressure to spend on expensive things, which was motivated by the kind of circle the ladies had. There was also a case of spending extravagantly on wants rather than needs. 

A need is something that is basic or a necessity that we can’t do away with. Whiles we can do away with wants or postpone to a later date.

In the movie, Zuri didn’t pay much attention to some of  her needs, her focus was on her wants. She needed shelter but she spent on bags, shoes, new clothes and a lot more. And now she had to deal with her landlord when her rent was due. Her extravagant spending was influenced by probably her own standards and because of the circle she had.

One thing I have realised is that, when spending, most people don’t think of how to get a stable cash flow. The first thing that comes to mind when money is mentioned is spending and that’s not healthy.

BM: Very unhealthy. How does someone come out of that web of spending to please her circle?

PT: Have the mindset that you all are travelling different paths.

Lemme tell you a story. As a child, my father and mother had money but along the way when I was 8 years old my father lost his job so things really became difficult for us. At that young  age, my siblings and I had to go through a lot. One thing that helped us was that my mum made things real to us. She made us understand that the situation at home had changed and so we had to reduce our expenses. She didn’t hide it so we actually knew what home is like and where we are coming from.

That is one thing most people forget, that we all have different backgrounds and directions. 

BM: It’s very true.

PT: Another thing you can do to come out of that is to surround yourself with people who influence you in a good way. I remember that when I went to the University, I initially had four friends. And of those four, I was kind of the best. My C. G. P. A was so bad. My attitude changed. My mindset towards a lot of things changed to the negative because of them.

One morning, I had just finished bathing and the Holy Spirit drew my attention to it. That was when I realised I had to change my circle. 

BM: Mmmmmh. Change of circle.

PT: So I told the Holy Spirit to help me stay away from them. And that the Lord should bring me closer to people who would make me a better person. And I found her. I didn’t need a lot of people. Just 1. The lord gave me 1. 

BM: Wooow. Sweet Holy Spirit doing the most.

PT: And when that person came, everything changed. My C. G. P. A. increased and keeps increasing. Some bad attitudes of mine stopped. So, one’s circle really matters. If you want to pray, be among prayerful people. 

BM: Interesting. Did this new association impact your spending?

PT: Yes, it did. I stopped buying on impulse and started planning before buying.

If it’s not something I really need, I won’t buy it. I also learnt how to manage the little I had.

BM: How has the Smart Money Woman impacted your outlook on finance? Especially regarding spending.

PT: It has contributed to strengthening my ability to avoid impulse buying. That is buying things that I did not plan to buy but did immediately set my eyes on it because it was nice. This comes with financial discipline actually. 

When I learnt this discipline, I realised I had money for a lot of things. 

I’ve been paying my fees since 1st year in university. But even so, sometimes I find myself wanting and I have to ask others for help.

I began to practice financial discipline at the beginning of my third year and by God’s grace, I don’t have to struggle. I get things with ease now. 

Another thing I learnt to avoid is to spend and then save later. I understood that we have to save and spend the remainder. I learnt from the lawyer friend in the movie that I need to have a plan for savings. This can even help you to face unforeseen circumstances. 

BM: Aha! You said earlier that we should think about earning in order to cater for our needs, right? 

PT: Yes, we should think of earning to cater for our needs but sometimes as I said, misfortunes can happen. So the goal is not just the need, but are you strong enough to stand well financially if you are hit with an unforeseen circumstance?  You have goals and aspirations you can pursue if you are financially sound, therefore a stable cash flow is needed. For example, Adesuwa in the movie understood this. She had her daily needs met and she was able to stand when she was hit by misfortune because she didn’t just think of earning to meet her needs.

BM: I like that, “if you don’t earn beyond your needs, that aspiration of yours can’t materialise.” 

Now, what are some of the ways our ladies and readers can explore to earn money legitly?

PT: Find what you can do best and do it. As an Entrepreneurship student, the drive was there and I loved to sell so I started an online supermarket. I mean, the proceeds were not huge but I was happy I got something from it. I didn’t have to steal or do something bad to get that money. You can also learn a skill and make money out of it.

BM: It’s interesting how this world works. Starting a business or a side hustle doesn’t just give you money, it gives you experience and widens your network. I got to know Priscilla in 2019, through my Natural Hair Coaching business. 

I realised ladies admire my hair and kept asking me what I do to have it healthy and long. Of course I would answer them for free. But then, the questioning became too much, and those I gave answers to started seeing results when they practised it. After a discussion with my coach, he encouraged me to monetize it and boom I did. I had more than 70 paying clients when I was in active coaching. 

So I agree with you, find what you can do best and do it, learn a skill, package your knowledge and sell and people will pay you. People pay for value. 

PT: On that note, any hair tips for me?

BM: Did you bring dollars? Haha. Who was your favourite character in the movie and why?

PT: Zuri and Ladun because they had a similar story; they were able to adjust quickly when the tables turned and they were teachable as well. Zuri accepted that she needed help. She opened up to Tsola so she would be taught investment and financial discipline. 

Ladun lived a wealthy lifestyle because of her husband’s wealth, but when they lost it all, she quickly adjusted. She sold the expensive bags and clothes she owned.  She also moved into a less expensive apartment with her husband. She knew at that point that she needed to help her husband so she admitted she needed to find a job.

BM: Oh yeah.  She had skills already so she was able to utilise it when the need arose. 

PT: Exactly!She also cut down expenses on her wants and focused on her needs. 

BM: All too soon, we are ending. What are your last words to our lovely readers?

PT: Everything is possible. If you can imagine it, it will happen. You just have to imagine and vision it right. If it’s good finances (financial discipline and plenty of money) that you want, it’s possible. You just have to imagine it, ask God to help you, work towards it and it will definitely happen. 

BM: That’s great! Thank you for agreeing to do this. I had a great time talking to you. 

PT: It’s a pleasure. I had fun too. Thank you for the opportunity.

Lovely readers, how has the money matters series been so far for you? Drop your learnings in the comments. Until next time, be INTENTIONAL with your spending.