Finance News

5 girls about issues they want to find out about finance sooner

For many women around the world, we have seen so much trial and error when it comes to finance. The transitions in life begin in our teenage years, which develop our ideals about money. As we get older, we quickly realize that our wants and needs naturally change over time, which directly affects our financial goals. There is no better way to learn about finance as a woman than from other women – take a look at these key lessons and start these discussions with other women in your life.

Money mindset

Shannah Compton Game, Certified Financial Planner and Host of the Millennial Money Podcast

I wish I had understood the power of my money thinking and the role it plays in financial success. After working with clients as a certified financial planner for 12 years, I quickly saw that most people's mindset was just keeping their mindset from reaching their financial goals. how they think, act and feel about their money. I wish I understood that my money journey shouldn't be linear. Working with hundreds of clients over the past decade has shown me that money definitely flows up and down for most people. It's easy to get hooked on your money mistakes and decisions you would have liked to have made. The magic, however, lies in accepting your money journey and doing your best not to give money more power than it deserves in your life.

Long-term planning, investments and wealth accumulation

Erin Lowry, Author of Broke Millennial Talks Money: Scripts, Stories, and Advice for Making Uncomfortable Financial Conversations

While I know, I should probably give a more traditional answer like "Invest in a Roth IRA when I got my first job!" (which is true, I wish I had done this in college) my answer is actually learning to invest in relationships. In my early twenties, I was incredibly fixated on making money and saving. But to the point that I almost always say no to dinner invitations, happy hours, get-togethers, small outings – whatever. Of course, there is nothing wrong with focusing on building financial security for yourself. Actually, that's what you should aim for. It's also important to have some balance there.

Investing in relationships doesn't have to cost a lot of money, but it is something you should consider considering your financial journey. Saying no over and over again means that at some point people will stop asking you to participate. Instead, offer a cheaper alternative. "I want to hang out with you, but instead of a bottomless brunch, how about we grab a bagel and take a walk in the park?" You can also talk to your friends about your financial goals to give them context as to why They can't always indulge in the activities they want to do.

Deidra Willis, certified financial planner

The first time I finally got the chance to invest, I wish I had done it sooner. In short, you don't know all about the company you want to invest in or have an affinity for, but when you have 80% of the information, analyzing won't get you caught in the paralysis. When I finally did it it was "what's next?"

The earlier you plan, the less it will take. Time connects and works for you. I did a great job starting right out of college, but I didn't know the same thing worked for insurance and other financial assets.

Shannah Compton Game, Certified Financial Planner and Host of the Millennial Money Podcast

I wish I understood that there are so many ways to grow your wealth. Growing your wealth isn't about following a set 10-step checklist. It's about figuring out what is really important to you and then acting consciously with your expenses and savings to finance the life you want to live. I wish I had understood from a young age how to invest in stocks without fear coming into play. I grew up thinking that men are the only people who invest successfully. Because of this, investing always felt scary to me. We need to teach everyone from an early age how to be savvy investors without fear and greed.

Debt and Money Management

Maggie Germano, financial journalist, speaker and financial educator

I wish I knew I could pay off my student loans while I was still in college. Even if I could only afford small payments, it would have felt really good to make a dent before closing. In this context, I wish I knew that a "refund" of my student loan means that I will have to pay back later with interest. And that I should use it to pay off the loan instead of spending it elsewhere. I also wish I knew that I don't have to isolate myself in order to stay on a budget and save money. There are ways to be social while living within your means. I spent too much time at home alone before I realized this!

Elle Martinez, founder of Couple Money and host of the Couple Money podcast

I think one of the greatest helps when it comes to finances is having a budget that is goal-oriented. I am someone who needs something concrete to focus and stay motivated, especially when it comes to paying off our debts.

The second piece is more related to the entire marriage and money mix, which has monthly money dates.

These regular and cautious check-ins allow us to adjust the numbers as required. We are able to grasp things early. That way, instead of having spending or debt out of control, they're no big deal.

Entrepreneurship

Deidra Willis, certified financial planner

In the business world (a tip for self-employed / contractors / 1099), not every dollar you make is yours! Separate your money and the only thing you can do as a staff member is your salary until your bank account can support you, your team, and your expenses for a month. I see the excitement of making and spending, but not properly planning it as a business. One lesson for me, as accomplished as I was and am, was that business operations must have a financial structure, even if the costs are not there!

As we can see, there are many ways to approach money management, investing and establishing your own money mentality. This conversation doesn't stop there! Gather a group of family and friends to share your personal lessons from the money. Now you can incorporate some new approaches as you continue to thrive on your financial journey.

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