Spring is finally here! I am so happy because I can finally have the sun bathing my skin. Honestly this time of year makes me feel so much more positive and happier. The weather may be changing, but we have also entered into a new month. Not only is April here, but we also get the opportunity to celebrate national financial literacy month. Wait! I know you don’t visit Krystle Clear Pageantry for personal finance education, but hear me out.
Everyone needs to understand money and how to use it properly. I have seen too many contestants spend way too much money and get into debt over a pageant. A PAGEANT! Unless you can make money off that crown, competing in a pageant is a hobby. A hobby should be something you do for fun or for pleasure, but it should never overwhelm you financially. With that being said, I have provided 4 key financial principles for you to practice while preparing for pageant competition.
- Just because you can doesn’t mean you should.
I know your competition may be getting custom Sherri Hill gowns that cost thousands of dollars, and you may feel the urge to do the same. You think to yourself: I can always charge the dress to my credit card and pay it back over time. Yes, you have the ability to do that but should you? Is it really worth going into debt? Will spending thousands of dollars on a gown really impress the judges? Will this decision help you win the crown? Think about it. I have never spent anywhere close to a $1,000 on a gown, and I have won my fair share of crowns. It is not the gown that wins the crown; it is the girl in the gown who wins the crown.
- Discount stores are your best friends.
You will be amazed at what you can find at Ross, TJ Maxx, Dirt Cheap, or Bargain Hunt. Don’t turn your nose up at discount stores because they seem beneath you or don’t carry the labels you are accustomed to buying. Sis: Adjust that attitude and come back down off your pedestal and sit with the rest of us. Let me let you in on a secret. Come closer. Closer. THE JUDGES DON’T CARE ABOUT YOUR LABELS. I once bought an interview dress at Ross, and it was simply gorgeous. Guess what happened: I didn’t have to break the bank to purchase it (The dress cost less than $30), and I won 1st runner up at that particular pageant.
- To barter, or not to barter: that is the question.
Honestly, it is not a question for me. I will barter all day every day because I love to save my coins. For example, I am good at coaching. I can offer a 1 hour coaching session in exchange for a makeup application because Lord knows applying makeup is not my ministry. Find someone that offers a service that you are interested in and see if he or she is willing to barter. It is a win-win for both parties. First, it gives you the opportunity to provide a service and showcase your skills. Second, it saves you money by not having to pay for a service you desire.
- Side hustle your way to financial success.
I know it doesn’t matter what I say in key financial principles 1-3, you you still care about your custom gowns and labels. I get it. Believe me, I understand the desire to have what you want. If that is the case, how about a create streams of income (side hustles) to pay for your desires? When you have a side hustle, it makes paying for a pageant less burdensome. Can you bake cakes well? Do you know how to apply makeup like a professional? Are you great at being organized? Turn your skills into money making opportunities. You will be amazed at the services people are willing to pay for. I have at least 5 side hustles, and I always looking to create more. In my opinion, you can never have too many side hustles. Side income allows you to walk into financial freedom.
Take heed to the above principles. They may seem uncomfortable to practice at first, but they will reward you greatly in due time if you stick to them. I should know because I practice all four of them. It is true I don’t make lots of money yet, but if I keep practicing sound financial principles and stay financially responsible, I will see that goal realized in no time.
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