The Power to Prosper
Do You Have the Power to Prosper?
I can honestly admit, I have never read anything by Michelle Singletary. But when I saw the title of her new book, ‘The Power to Prosper — 21 Days to Financial Freedom,”I got curious. Over the years, I’ve sought the guidance of Suze Orman, Robert Kiyosaki, Eric Tyson and others to get my financial house in order. I’ve also listened to countless sermons where biblical principles were used as a framework for developing financial discipline. In seeing Michelle Singletary’s book, I had one question: “What’s New?'” What could she possibly say that is different from what I’ve read and heard over the past 8 years? I know I am at a much better financial place from where I was in 2002, when I first read ‘Rich Dad, Poor Dad’ by Robert Kiyosaki. At the time, I had just quit my first job out of undergrad with no prospects on the horizon. I had the ‘Ghosts of Credit Past’ haunting me daily, with no clear plan of how I would recover and plan for my financial future. I’ve come a long way since then, and am excited about having new financial goals to accomplish. As I thumbed through the pages of Singletary’s book and skimmed over the description of the 21-day financial fast, I thought:
“This is easy! Avoid the mall for 21 days? I go to the mall like 4 times a year! Avoid using credit cards? PLEASE! I don’t even use credit cards! Sign me up for the fast!”
Then I saw my own personal challenge: ‘Don’t buy meals outside the home’. Uh-oh. Now I have no problem with cooking or packing a lunch for work. But every once in a while, I will partake in a savory meal at one of my favorite restaurants. In fact, I am more likely to spend top dollar on food than on any other purchase.
Tomorrow, January 10th marks the beginning of the 21 day fast for me. Several others will also embark upon this journey with me, some starting tomorrow, others starting at later dates. I don’t expect every page of the book to ‘sing’ to my financial situation. All I need is one nugget– one challenge for me to embark upon. If I’m able to last 21 days without eating out, that will indeed be a victory. Ok, let’s get it!
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Work In Progress 
I have been debating going on a financial fast…I rarely go to the mall also but I do eat out. So far I have been cooking….I am surprised. Normally, I am quick to pick something from a fast food chain but lately(since my mother visited and cook everyday), I no longer have the craves for the fast food). I now find myself going to the grocery store. A few times AJ has asked me to go to Qdoba, Taco Bell, etc and I told him no and I went to the grocery store. I am proud of myself so far. 🙂
Good for you Renita! With this fast, I imagine I will be taking more trips to the grocery store and trying out some of those recipes I would typically pay much too much for at a restaurant; especially once you add on the DC 10% tax plus gratuity. Let me know when you are ready to swap recipes! 🙂 ~TS
I was eager to read Singletary’s book, but after getting through the preface and chapter one, my excitement decreased a bit. Why? Because I did not expect her to use religion as the framework for her financial tips. This framework is a bit distracting for me…maybe because I’m accustomed to the way other financial books are written.
Luckily, although I’m not thrilled about her approach to writing the book, her tips are completely valid. Just in the few days of being on the financial fast I began to realize how much and how often I spend money…no wonder I always ask “where’s my money.” LOL. For the past 1.5 weeks I’ve taken out cash with the intention to stretch it through the week. It seems that I’ve done a good job stretching my money instead of whipping out a credit card or over spending on my debit card. Also, I’ve found restaurant gift certificates that I probably would never have used without this challenge.
So I’m going to keep on the journey and see where it leads!
Thanks Tosh.
I expected that some people may decide not to read the book because of the Christian framework through which Singletary writes. Discussing money through religion remains a very touchy subject. Its weird though, I think some people may only read this book because of the Christian framework she uses, while others may choose to continue reading because of Singletary’s reputation as a financial correspondent and/or the validity of the tips she offers, as you indicated. Either way, I believe this book has great information for those who are looking for both new and tried and true methods to managing their finances.
By the way, can you share some of those restaurant gift certificates you’ve discovered??? They would definitely come in handy for me! 🙂
Glad to hear you’re keeping with the journey!
TS
This financial fast is harder for me than I expected…and I’m only on Day 3. So far, I realize how awful I (too) am at spending money on food. Ok, fast food. Tempting, quick, convenient, fatty food that doesn’t require leaving the comfort of my vehicle or scouring pots and pans. And much like any other vice, the meal only satisfies for a moment and then I’m back at Popeyes looking for my next “hit.” Thanks, Michelle Singletary, for making me realize I’m lazy when it comes to feeding myself. So, in lieu of a 12-step program (Fast Food Anonymous?), I’m taking the initiative to think farther than just my next meal. Instead of wondering “where” I will eat tonight, I’m scouring (there it is again!) through grocery store circulars and online recipe havens to find “what” I will eat tonight and next week. This is extremely ambitious for me, but hopefully “planning ahead” will become a habit and spread to other areas of my life.
And speaking of “planning ahead,” check this story out! http://abclocal.go.com/ktrk/story?section=news/consumer&id=7227646
Stay strong my sistah! Glad to hear the fast is going well. For me, I found it interesting how participating in a financial fast has actually shed light on other areas of my life that need improvement, especially time management. Convenience costs, often at a price we simply cannot afford to pay. I guess the old saying is true, we pay for everything in time. If you come across some great online recipes, please post them! I’m confident many of your fellow Fast Food Anonymous members will thank you for it! Even if they chose to remain anonymous! 😉
Thanks to Snowmaggeden, I haven’t spent a dime in the past week. Yay, easy! But what I’ve realized as a result of doing this exercise, is that I don’t want another car payment. Before the snow storm I didn’t take very good care of my car. In preparation for the weather, I took my car in for what I thought would be minor repairs, but it turned into major repairs. I was complaining about shelling out money for new breaks, transmission flushes, etc, etc but I realized the $1500 I needed to spend would spare me the $28,000 cost of a new car.
Then, yesterday, I dug out my car from all the snow. Yesterday a friend encouraged me to park my car in a local garage to avoid more snow piling on given forthcoming weather predictions. She agreed to follow me to the garage and drive me back home. As I got into my car, I noticed a few dings in the sunroof glass, but didn’t think much of it. We drove a few miles to the garage. I parked my car, turned off the engine, quickly jumped out, closed the car door and heard a POP! I turned around to see more than half of my sunroof shattered AND collapsed in after I shut the car door. Disbelief!
But again I realized that the $1000 I’ll have to spend on repairing a sunroof, plus the $1500 I already spent on repairs is still less than a new car. From this point forward, I vow to take care of my car so I can live a few more years WITHOUT a car payment
Wow Tosh! That is so unfortunate! But it’s a good thing that you have the spare funds available to handle the necessary repairs. I know for me its simple to think about saving for that next trip out of town, which I’m sure BOTH of us could use right now to escape this brutal weather!!! But when it comes to saving for the mishaps that life (including Mother Nature) tend to throw our way — its not exciting, but it is essential. I’m praying these will be the last repairs you will need to make, so you can continue to live car note free as long as possible! 🙂