ahhh, yes. Another installment of Wahala Wednesdays. Brought to you right here on afiive.com!

Today, we are going to talk a topic close to our hearts. Money.  More specifically, How to have some and be financially independent. Let the wahala commence!

Wahala Wednesdays – Volume 4

{To begin- press “Play” on the Audio Player – if you have any problems, let me know}

In case you missed anything, most of the podcast is transcribed below.

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Did you like the Mase throw back? lol love that song!

Step 1. Make a Commitment to save.

My favorite quote at the moment is “If you continue as you are, you continue to get what you already have. Change your thinking; change your life.” If you want to be financially independent, you have to change your mind and your habits. Plan for tomorrow and make a commitment to save a little bit of your money every pay check. Even if its only 5% of what you make, even if its only 5 dollars. Save it.  You can’t send your children to whatever school they want if you are in the poorhouse. Nor can you help to develop Africa, with your businesses, with setting up schools, with donating however you can, if your money situation is bleak.

Take the first step and open up a FREE online savings account that even PAYS YOU money at ING Direct today.  That’s what I did. I transfer a little bit of my income in there every chance I get and I earn about 1.5% interest every month.

Do it. Even if you only have 10 dollars. (Our little secret – I started off with five.)  Watch your money grow. It’s free and easy. Start saving today.

Step 2. 30 Day Challenge – Track your spending.

It’s easy to not be aware of how much money is actually leaving your pocket, especially if the amounts are small (6 dollars at starbucks, here, 15 for the club there, etc.) I tracked my spending for 30 days (March 27th 2009 – April 28th 2009) and almost threw up when I saw how much I lost.

I won’t give you all the gory details, but I will tell you that I lost almost 200 dollars to eating out. That’s right, a sandwich here, a water there, at least $150 gone.

Track your spending. The knowledge will change your life.

Step 3. Set up a budget and stick to it as best you can.

Even typing the word “budget” is painful. Who wants restrictions on their money? No one. But if you are going to be financially independent, you have to watch your spending.  Many financial books and experts give similar advice:  Budget your income this way – set aside 50% for bills, 20% for savings and 30% for wants (Recreation, out with friends, movies, eating out, clothes, etc.).

This is just a template to work from. I changed mine up a little bit and did 60% for bills, 10% for God (tithes), 10% for Savings and 20% wants.  Tailor your budget to your life, but have at least 3 different avenues for your money to go and stick to the percentages.

So that’s it folks. Money is tough to make but it’s a means to helping us achieve our goals and dreams so we’ve got to be proactive about making it grow and being financially independent.

A few resources for you to check out if you are going to take your finances more seriously include: The Get Rich Slowly Blog and Suze Orman’s book – The Money Book for the Young, Fabulous & Broke. Suze has been on Oprah a lot lately; check out more about that by clicking here.

What have been your experiences? Do you have more advice for the community? Website or Resources you think people should also look at? Discuss in the Comment Section below. (and please don’t forget to vote in the afiivé Poll. It’s on your screen to the right. Scroll up a little bit. Under the afriTV box. Yes. Right there. Vote!)