Updated: Feb 3, 2021
Generational wealth has to start from somewhere. Some people are born wealthy, but someone down the line had to start from scratch. That someone may be you! It does not matter where you are at right now. Yes, you may be drowning in loans and credit card debt. Yes you may be making minimum wage, or you may be middle class struggling from paycheck to paycheck. It does not matter how you start, it matters where you finish. So ready? Set? GO!
Let's embark on this journey together as we grow in our knowledge of the financial world. We will learn how to better manage our money, create a budget, save and invest to create a better tomorrow. We are not about chasing money here, we are all about making money work for us. Money is a TOOL! Now it's time to use it properly.
This should be taught in school, but some of our favorite resources to learn about money management are:
- Books on money management and investing
* Financial peace by Dave Ramsey
* Total money makeover by Dave Ramsey
* Retire Inspired: It's not an age, it's a financial number
* Rick dad poor dad by Robert T Kiyosaki
* Your Money or your life by Viki Robin and Joe Domingues
* The Millionaire next door by William D Danko and Thomas J Stanley
* The intelligent investor by Benjamin Graham
* The little book of common sense investing by John C Bogle
- Budgeting apps
* Mint by intuit
Well this is great place to start. We certainly don't want to overwhelm you with information. But start with what you have. Learn to budget! Know what is going in and out of your pocket. Understand your motives behind every expenditure. The way we deal with money is psychological. It requires meditation and truly understanding the thought processes and motives behind our behaviors. So take the time to truly understand your needs and distinguish them from your wants (those things that you see and think you need but can actually do without). If you limit your wants and focus on your needs, you will start to shift things around and over time see a change in your finances. Now go on and grow my friend.
Stay tuned for more, there is so much more on this topic!
Be blessed and keep growing!