.png)
We are about to wrap up the first quarter of 2024. How are you coming on the goals you
set back in January? If you are like us, at least one of your goals is related to finances. Maybe paying off debt, increasing finances, starting a business, writing a book, or obtaining a promotion at work. All these goals are connected to financial wellness.
Financial wellness is a state of financial well-being in which you are able to manage bills, pay debts, cover unexpected occurrences like replacing a windshield or car tires, and plan for long-term goals like savings, college and retirement. Our goal should be to be financial well. Both of us grew up where our parents and close relatives worked long hours. Many of our family members went to work at 8am and returned home 14-16 hours later after working two jobs a day. And that occurred at least 5 days a week.
Today we hear a lot about work-life balance. We experienced no such thing growing up. Why? Because our families understood that money came from working jobs and working jobs usually meant hourly pay. So, trading time for money was how we grew up understanding money. You give time, you get money. This is true for many people. But, it wasn’t until young adulthood that we began to see a different perspective of money.
Through mentorship and observing friends and acquaintances, our eyes began to open about additional avenues that money could be obtained. Avenues like business ownership, rental property revenue, residual profits from projects like books and other materials. By the time we were in our 20s, we both started dabbling in business ventures that tested our employee-skewed mindset, but these ventures proved to mold and shape who we would later be.
Monique recalls a pivotal moment in her financial awareness where parents of a college friend had bought her friend a house while in college instead of her friend living in the dorms. The parents rented the house to three other college students. The parents paid all the rent they received toward the mortgage for the entire time her friend was in college. When her friend graduated, the parents gifted her friend with the house. Talk about setting your children up financially! This was a life-changing experience for Monique. This is where we all need to be.
If you know us or follow us on social media, you know that we are proponents of multiple streams of income. Multiple streams of income means that we should be equipped with income coming from different avenues. A job should never be your sole income resource. Financial diversity is key to gaining financial strength, easing financial pressure, and planning for the future. In addition, don’t you just rest a little easier when all your bills are taken care of you have extra?
And how does this impact our future? Many people desire to retire, but financial experts predict that less than half of Americans will be able to retire comfortably. That does not have to be our reality! We are excited about a free class we have designed called Money Mastery Basics, where we are teaching some getting started principles to build a strong financial foundation. In this class, you will learn:
How to develop the proper money mindset;
How to distinguish between your money source and resources; and
Strategies for game planning your finances
This webinar will take place on Monday, March 11 at 7:00pm CST. We are excited about this class and we hope you can join us. CLICK HERE and get registered. Let’s finish this first quarter strong together!
As always,
giving you The Edge!
Comentários