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This is Peace Spring my WealthDominionaire Avatar, she is 24 years old, and she is a single mother of 2 children, one girl, and one boy. Their ages are 7  and 3. She was a teenage mother and had her daughter at the age of 17. Ever since she found out she was pregnant at 16, she got her first job at a local grocery store. She then learned how to do hair and makeup, and that is how she made extra cash to provide for her and child.

She works at a very popular beauty supply store for 4 years full-time, and she does hair in the back of the store part-time. 

She has a beauty license in cosmetology for the last 5 years. She specializes in hairstyles and makeup that is rare in her city. Other beauticians do not offer, this gives us her the advantage in having a high demand of clients and customers. 

She works from 10:00 am -until- 9:00 pm and works 60 hours a week. She works 40 hours in the beauty supply store, and 20 hours doing hair and makeup.

She makes $11.50 an hour working in the beauty supply store. She has 5-0r-more clients a day where she brings home $750 a day.

She gets one paid holiday a year. Her checks every two weeks after taxes are $820, her bi-weekly gross before taxes is $920. She brings home $1,640 a month from working at the beauty supply store. Her main wealth increase is doing hair part-time in the back of the store, her monthly income is $15,000. Her grand total for both work and doing hair is($16,640). 

Her yearly net gross before taxes at the beauty supply store is $22,080 and her yearly gross from doing hair is $180,000

 Even though she makes more money than many people see in a lifetime. She is not wise at all with her money. She has many unpaid bills, derogatory items, medical bills, and serious delinquency of late payments on her credit. She believes in she works hard for her money, so her family should live a lavish lifestyle. She said that she is a single young mother, and she should look the best, drive the best, and live in the best. Her motto is YOLO(you only live once). 

She does go to church, she helps out with the youth at her church and a youth pastor in training. However, she does not live the life she portrays at church. When she is at church she is one way. When she is at work, and around her clients, she is another way. She is using negative words, gossiping, using foul language, thinking and speaking negatively about herself. Even though she lives a life most people dream of. She always complaining and finding something wrong with someone-or-something. 

In addition, she is working with a realtor and financing company to open up her own hair boutique shop. However, because her credit score is a 550 and she has over $100,000 on her credit. She will have a high-interest rate while purchasing her building.

Here are Peace Monthly financial obligations.

Mortgage: $3,500

Gas: $500

Electric: $400

Water/Sewer: $100

Internet/Cable: $300

Car notes/Insurance: $2,000

House Insurance: $275

Tithes: $1,600

Food/household items: $600

Gas for work and children events: $300

Personal needs for her and children: $2,000

Life insurance: $85

Nightlife: $950

Grand total for all bills monthly ($12,610)

Remember, her monthly income after taxes is($16,640)

If she came to you for spiritual financial advice and insight, what would you suggest?

How much does she has left after bills? 

What would you change in her monthly bills?

What do you think is hindering her finances and why, please explain in details?

What would you do if you received this amount of money?

Did you know you are gifted in your hands to obtain this type of wealth?

What would you suggest for her to do to fix her credit?

What would you do differently than Peace, please explain why you chose this answer?

What do you think she needs to do in order for her to receive a lower interest rate?

Can you relate to Peace-or-d0 you know anyone who has her characteristics when it comes to your finances? 

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My spiritual advice would be to her is that she could be causing some youth to fall due to her disobedience and lack of concern for her position. I would ask her to write down her goals as a leader for the youth and her goals as a single woman and see if they have anything in common. I like for people to write things down because they are able to see it then it makes more sense. 

According to my calculation she has 4,030 left over

The change I would make in her monthly bills will be the 950 she spends on nightlife, the cost of the car and insurance maybe she needs a  different car that will cost less for insurance, maybe she can down size the home. 

I think why her finances are an issue for her is because she does not know how to mange money.

If I received this type of money I would be helping others in need, I would be paying off debit and saving money for rainy day. 

Yes,I do 

I would suggest to her to work on her credit herself by disputing anything on her credit and paying off small things.

I would down size my home, get a car that is less expensive, cut out the party life and entertainment for other's, focus on my relationship with God and began to focus on my dream as a business owner. 

She needs to pay off things on her credit and maybe find a partner to go in with her. 

I been asking God to help me in that area. I do not make that much money but at times I can be careless. 

Okay so i see her tithes are not first being seperated off top then i see she not paying the amount she ought to either and all i have to say is this. God comes first what you owe to him should be first. God is the reason you have the money in the first place. In order for things to be ran smoothly and to flow you to make sure you in alignment with God. He can send people your way ti assit you. I will tell Peace you also need to live the walk with God everyday not every other or certain days. Being with God is truly a real life changing experince and its fabulous all around so if God can be loyal to us all year round we owe it to him to be loyal and faithful and to walk the life outside the four walls as well he dosent give us just anything so we shouldnt. After doing the math of the 10% from monthly income it all rounds to 4,030 that she will have left. So again more than enough left over. God still in the blessing business.  My advice to you is make sure you giving your share because once you and keep seeking God and keep praying fasting and meditating and praying over your thites and focus on his word. God will see your dilligenece are doing things the way he say and how commited you are to make sure you are God will show up at the right time. Be patient dont rush things wait on his timing. If can as well dont spend so much every check. Like for personal needs i wouldnt spend 2000 on personal for me and my kids .Thats entirely too much. Yes we neee thoughs things but how about going another route maybe another store where things are not so high. Or somewhere where you can get more for less. Whats hindering her is defenitly her not giving as she suppose to as well as spending quite a bit on personal things. What i would do if i have that money pay my tithes first everything will be later and also invest in my stores i recently open. I knew i was gifted in my hands to obtain lots of money yes. For her credit I would suggest Credit Rapier they are a good source to go to for help. The reaaon i would do things different is becauese i know with God help and me getting right with him first is how my days flow for everthing without me worrying he makes everthing for me stretch. Far as her interest rate im not certain. I can relate a little i use to think i was paying the amount i was pose to and then wonder why my money things kept coming in a disater. I had to pay as i suppose in order for things to run smoothly that and i have a guilty concouis lol

also I wanted to add to her night life 950 wow yes she needs to reconsider the amount she spends out on the town if its her partying money I would consider her to enjoy herself another way and to spend less when out maybe 600 less and that definitely would help her in the saving part as well. and also go another route for insurance progressive is good and cheaper. 

I actaully had this on my mind and gave the wrong answer because i didnt do the 10% percentage her correct amount of 10% from it will be 3,600 left over im sorry to tithe the correct way this is her amount left she wasnt tithing no where near close to thee amount she was pose to.

If she came to you for spiritual financial advice and insight, what would you suggest?

I would say, she is doing good by paying tithes but she’s a little off by $64.00, 10% of $16,640 is $1,664.00 in tithes. There is nothing wrong with living an extravagant lifestyle with the type of many she is making, to whom much is given, much is required spiritually and in the natural. You can live the life you desire and still let your light shine before mankind… Don’t live a double life it’s not worth it repent and fully give your whole life over to God… Be faithful in paying all your bills and on time too.  There are professional businesses that can help you pay off your credit for a small fee, I would suggest that for her. I also, would tell her to talk to her pastor about her double lifestyle of sin… To see her if pastor wants her to step down from leading, until she really decides to lead by example.

How much does she has left after bills? 

$6,030.00

 

What would you change in her monthly bills?

Electricity $400 needs to be reduced, Gas $500 needs to be reduced, and Nightlife $950 cut down to $250. because she already has $300 for gas and child events and Tithe $1,600.00 to $ 1,664.00…

What do you think is hindering her finances and why, please explain in details?

She is not using wisdom and spending money needlessly and neglecting her bills…   

What would you do if you received this amount of money?

Thank God and pay my tithes and love offerings… and take care of my family… Most of all be led by the Lord…

Did you know you are gifted in your hands to obtain this type of wealth?

Yes

What would you suggest her to do to fix her credit?

Seek a professional business to help her get debt free and get prayer and read the word for those areas.  

What would you do differently than Peace, please explain why you chose this answer?

I would not be spending $950.00 for a nightlife of partying and I would cut down and unnecessary bills too. If I was having trouble in my spiritual life, I would talk to one of my leaders someone who I could trust and step down until I was ready.

What do you think she needs to do in order for her to receive a lower interest rate?

By: Creditcard.com

  1. Take stock.

Before you start reducing your credit card debt, know where you stand, says Cate Williams, vice president of financial literacy for Money Management International, a large, national credit counseling firm. "A lot of people will say they've got a certain amount of debt -- $9,000, let's say -- when in reality, it's $11,000 or $14,000." You'll never hit your target if you don't know where it is, so be brutally honest with yourself. 
Action plan: Write down the debt -- and the interest rate -- on every card you have.

  1. Improve your rates.

The quickest way to save big on your credit card bills is to negotiate a lower interest rate. If you can shave off even a percentage point or two, you can save hundreds as you pay off your debt. A simple phone call and a polite request may be all it takes. While your credit score will play a large role in whether or not you get a rate cut, it's not the only factor. Every lender has its own approach to this issue. It never hurts to give it a shot.
Action plan: Call up each credit card company and request lower interest rates. Want to try?  We havetips. If you're successful, write down your new interest rates. If you are interested in lower interest rates, check out the best 0% APR and low interest credit cards.

  1. Track your costs.

Write down all your regular, committed expenses (mortgage, utilities, insurance, car payments, minimum credit card payments, phone, gym, cable, etc.), and track other variable expenses such as restaurant meals, entertainment and travel. This will serve as the foundation to your budget. 
Action plan: Study up to a year's worth of credit card bills and bank statements to get an accurate sense of your monthly spending, and keep tracking your expenses with a notebook or financial software.

  1. Create a budget.

It's time to take an ax to some of those expenses. The key is to be realistic: You'll have to make some sacrifices, but you don't need to live on bread and water. "Cutting back can be more effective than cutting out," says Gail Cunningham, former spokeswoman for the National Foundation for Credit Counseling, a leading accrediting agency for credit counseling firms. "It's hard to adjust your lifestyle too dramatically, and often, little adjustments can add up to big savings." Cutting out a single pizza dinner each week, ratcheting down your gold-plated cable plan and changing your thermostat by a few degrees can give you the jump start you need. Be sure to give yourself a bit of breathing room in your budget in case an unexpected expense pops up.
Action plan: Write down three ways you can cut back immediately, and cancel or downgrade some services. Divide your monthly discretionary budget into weekly allotments so you'll have a better handle on whether you're staying on track.

  1. Choose your payoff strategy.

There are two common credit card payoff strategies. The first is to plow all your extra cash into the highest-interest card while paying the minimums on the others -- which is the fastest way, overall, to lower your debt. Once the first card is paid off, you have even more extra cash, and should apply it to the card with the next-highest rate, and so on, creating a debt payoff snowball effect. A second strategy is to pay off your card with the lowest balance first while continuing to pay the minimums on the others. Though this is not the most cost-effective way to banish your debt, it's the fastest way to eliminate debt on a single card, and it can be a psychological boost to eliminate a bill for good. 
Action Plan: Choose your strategy, then rank cards in the order you'll pay them off.

  1. Stash your plastic.

In 2000, MIT researchers took two groups of students and dangled scarce Boston Celtic tickets in front of them. One group was required to pay cash; the other was asked to pay by credit card. The credit card crowd was willing to pay more than twice as much, their research found. "I've seen people save 20 percent when they begin paying with cash," Cunningham says. "They become more contemplative of their purchases."
Action plan: Store your credit cards where you won't have easy access to them -- but don't cancel them. Plan to pay in cash whenever possible. 

  1. Find your motivation and support.

Create concrete goals to stay focused. Maybe getting rid of debt will allow you to save for a down payment on a house, go on a dream vacation or stop worrying about every bill that hits your mailbox. Find a community to swap stories, successes, and challenges. A forum where you can feel supported -- where you can say "I'm so tired of trying to save money." There are hundreds of personal finance bloggers and forums where you pull up a virtual chair.
Action plan: Write down your goals and keep them in your wallet or purse. If you get tempted to overspend, take a look at them to remind yourself of the bigger picture.

  1. Track your progress.

While you don't want to spend every day fretting over your bills, keep an eye on your spending. "Revisit your progress every few months," recommends Williams. "You don't want this to consume your life. It took you awhile to get into debt, and it's going to take you awhile to get out of it." 
Action plan: Put reminders in your calendar to check up on your finances. Keep the page with your starting balances and compare them to check your progress.

Can you relate to Peace-or-do you know anyone who has her characteristics when it comes to your finances?

No…

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