In this NEW Financial Series, I will be sharing the 4 financial building blocks of personal wealth and developing your financial strategy.
Ladies, its time to manage your money and grow your personal wealth! A lot of women tell me finance is intimidating and scary - but it doesn't have to be!
These 4 Financial building blocks are key to building personal wealth. You have to get the foundation right for you to start building on your income, savings, and then be able to level that up into investments.
My Financial Education
I was fortunate to be taught the building blocks of savings, budgeting, and investments by my mom who was a bond trader for many years. And I put that education to use - I had my first savings account was when I was 10-years old. All my babysitting money went into that account. With that money, I bought my first stocks at 20 -years old and I bought my first home by the time I was 30-years old.
My financial education continued when I entered Corporate America. One of the first accounts I worked in media was Barclay's Global Investment (BGI), now known as BlackRock. I was required to take classes on ETF, Mutual Funds, and CDs to ensure I understood what the Brand was selling. It. was one of the best educations I could have asked for in finance!
I am very excited to launch a NEW Financial Wellness series. Let's talk about why building Personal Wealth is so important for women!
↓Scroll down to download my Financial Building Block Glossary & Worksheet!
The Wealth Gap
The wealth gap for women is real. While women tend to save more (we are more risk-averse) we tend to invest less than men!
It's important to approach your financial strategy proactively. Your financial plan should shift and evolve as you build your career and hit different life milestones. My financial goals and budget changed as I went into Corporate America and really shifted when I left to start my own business.
All financial planning should be tailored to your specific needs! Money is personal, but I am launching this series to help give you the fundamental building blocks so you can create your own financial wellness plan! Whether your planning to buy a house or plan for a new baby - these building blocks will help you figure out how to plan and budget for your financial future.
Financial Building Blocks:
Finance can seem very overwhelming, but I am here to help break it down into easily digestible blocks. All of these blocks work together. We will go through each element throughout the series:
Here are the 4 Building Blocks that the series will focus on:
1. SAVINGS - Savings accounts are where you put the money that you don't need for daily spending or expense. Unlike most checking accounts, savings accounts earn interest. We will go through the core elements of building your savings, how much you should be saved, and put aside as well as all the different account types (money market, CD's, high-yield) that go under the umbrella of 'Savings Account'.
2. BUDGET - Having a budget is one of the most important elements of your financial building blocks. You need to have a clear plan about how you will use your income (money coming in) to cover all your expenses (rent, food, cell phone bill) - but also how to use any surplus income to pay off debt or grow your own personal wealth. I will be sharing my favorite ways to bucket my budget and how to strategically plan your budgets with automation.
3. INVESTMENT - Investment is the best way to grow your personal wealth but it also comes with the biggest risk. The most important rule of investing is to NEVER invest in something you do not understand. We will be reviewing the different avenues for investing, what you need to know before you start, and how you can start to diversify your investments for the long term.
4. INCOME & EXPENSES - Your financial foundation is supported by your income and expenses. You always want to ensure you are earning more than you are spending or debt will become a serious problem. You need to have a very good understanding of everything you are earning and where all of that income is going to start building your personal wealth.
→Download the worksheet to help map out your expenses and money goals.
FINANCIAL BUILDING BLOCK:
I have also included a Financial Building Block Glossary & Worksheet! This will help you get a deeper understanding of the core financial building blocks and start planning out your financial goals!
Your Homework: Get a handle on your money! Review your income & expenses and identify where your money is going and what you have leftover with the worksheets below.
Make sure to subscribe so you can follow along with the Financial Series.
Next week we will be discussing how to structure your Savings Strategy!
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FINANCIAL VIDEO - YOUTUBE SERIES
Want to learn more about my financial education, background, & how I become a homeowner by the time I was 30-years old?
WATCH THIS VIDEO!
I will have a NEW Video each week on my Youtube Channel!