You spend wisely…Are you earning wisely?

There seems to be a “day” for everything. National Waffle Day is March 25. National Tweed Day is March 18. Something On a Stick Day is March 25. Every day is “National Whatever Day.” In addition to the goofy “day” celebrations we have “month” celebrations that are quite a bit more important. Black History Month, Autism Awareness Month, Breast Cancer Prevention Month. This month, April, is Financial Literacy Month. A topic I feel is worthy of a month. I will be honest though, when I hear that a month is designated a certain recognition month I always think “Okay, yeah. That is important.”  And that is where it ends. I don’t do anything different. I acknowledge the importance of the name and away I go with my day.

 

So, Financial Literacy Month. I bet you get some of that at school. Maybe you have to take a Personal Finance Management class. “Be responsible with credit cards. Don’t spend more than you have. Balance your checkbook…blah blah blah.”  All important concepts, but I hear you thinking, “Just shut up already! I’m not stupid. I know all of this. Once I actually HAVE any money, I’ll make good decisions, so you can let some other public issue have this month.”  While I agree with you there is another side to financial literacy that no one seems to talk about. Earning money. You’ve been told how to save and spend wisely…to follow a budget and balance a checkbook, but are you earning wisely? Are you earning as much as you can every hour you work?

 

Are you earning $7.50 per hour or $15 per hour? Are you working for minimum wage or maximum wage? The kid making $15 an hour only works half the time to earn the same amount as someone being paid minimum wage. Someone earning $25/hour works roughly 1/3 of the time as someone working minimum wage FOR THE SAME AMOUNT OF MONEY. Who are you going to be? What are you going to be – minimum you or maximum you?

Earning is so important, yet much harder to talk about. It’s easy to talk cutting expenses. Don’t drink the latte, don’t eat out, buy your books for a discount. Now talk about earning more money.  How do I make more? Who pays that much? How am I going to do it? Where do I start? Not so easy is it?

 

I know students who kick ass in this department. They work for themselves and we call them student business owners. They are doing what they want to do to earn money. No punching in or doing what the boss tells you. Because they are their own boss! These students are successful because they spend wisely AND earn maximum wage. These students have figured out how to consistently earn more. Some of these students earn $25 or even $50 for every hour of work.   

I ask you to do one thing during Financial Literacy Month. Just one thing.  

Now that you know it’s Financial Literacy Month, please don’t just go on with your day. Use Financial Literacy Month to motivate you to find a job – or better yet – MAKE A JOB that earns double what you make now. Yes, double! Find a way to earn maximum wage. You will need to think differently. You will need to be persistent. You can do it and when you do, you will thank me because you be working half as much as you were before and still have the same stack of cash.

 

One simple equation     

Earn more = Work less    

It’s Lemonade Stand Economics

Happy Financial Literacy Month

hire yourself 

 

 

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