Money Barriers - I work around my money barriers

Introduction

Some people begin their career with money and others do not. Some people will make lots of money during their career while others will not. The fact is that, without money, we may find it hard to reach our goals for work and for life. But find a way to do so. Direct your energies away from the financial barriers that hold you back and limit you from being you. Be your true potential. Find ways to fund your dreams, even if you are limited: make more of less, make two from one. Find a way out of the constraints and financial limitations that shackle you. 

Benefits to overcoming money barriers

1. You learn self-discipline when you are in control of income and expenses.

2. You learn about money and its management.

3. You enjoy a better quality of life.

4. Overcoming money barriers allows you to dream more, save more and have a surplus. 

Skill example

As I did not have money to start poultry farming, I sold chips, sweets and cold drinks until I could buy a few chicks and begin my poultry business.

Thandeka's Story

Thandeka is a young lady living in Mbangwane, a small rural village in Mpumalanga. Thandeka has been passionate about poultry farming ever since she went with her dad to work on a poultry farm when she was young. Thandeka does not have money to start poultry farming but that does not let that stop her.

She buys ready to cook chickens from a neighbouring village and cooks them on the side of the road to sell to people passing by. She saves every cent she can after she has bought food for herself and her family. Over a period of 6 months, Thandeka is able to save up enough to buy 10 broiler chicks and 2 layer chicks.

Once they have become chickens, she takes the broilers to the neighbouring village and sells them to the poultry farm. She keeps the layers who begin to make more eggs. She continues to do this until she has built up a farm of 100 broiler chickens and 20 layers. She then begins preparing the chickens and eggs for sale, right from within her village.

She starts a brand called Thandeka's Chickens and builds a name in the community for her well priced chickens that now meet quality standards. Her business continues to grow until she is able to employ 5 people on a full-time basis. Thandeka thinks back and smiles to herself as she realises how far she has come and how she worked around her money barriers to find success in what she loves.

How to manage money barriers

Managing money barriers can be challenging, but there are steps you can take to overcome these barriers and improve your financial situation. Here are some tips:

1. Create a budget: Start by creating a budget that accounts for all your income and expenses. This can help you identify areas where you can cut back and prioritise your spending.
2. Reduce debt: If you have debt, focus on reducing it as quickly as possible. Make a plan to pay off high-interest debt first and consider working with a financial advisor if you need help.
3. Increase income: Look for ways to increase your income, such as taking on a part-time job or freelance work, or asking for a raise at your current job.
4. Build an emergency fund: Building an emergency fund can help you prepare for unexpected expenses and avoid falling into debt. Aim to save at least three to six months' worth of living expenses.
5. Seek financial advice: Consider working with a financial advisor or attending financial literacy classes to improve your understanding of money management and investments.
6. Avoid impulse spending: Avoid impulse spending by setting a spending limit for yourself and avoiding credit card debt.

Remember that managing money barriers takes time and effort. By creating a budget, reducing debt, increasing income, building an emergency fund, seeking financial advice, and avoiding impulse spending, you can overcome financial barriers and improve your financial situation.