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Apr 24, 2024 · How my early financial education changed my life. These early money lessons saved me from unnecessary debt and financial struggle, and they gave me a sense of confidence that I could stand on my own two feet and be independent as I became an adult.
Aug 28, 2021 · Money scripts are core beliefs derived from "financial flashpoints"—early life events (or series of events) associated with money. These events are powerful; they leave an imprint that...
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- Investing While Young Is Mandatory
- You Need Insurance. Like, All Kinds of Insurance
- Finding People with Similar Interests Can Help You Achieve Financial Success
- It’S Okay to Spend Money on The Things That You Love
- It’S Not Okay to Spend Money on The Things That You’Ll Later Regret
- Financial Goal Setting Is of The Utmost Importance
- Talking About Money with Your Friends and Family Can Be A Huge Relief
- It Can Also Be A Relief to Talk About Salaries with People in A Similar Industry
- Women Have It Way Harder to Get Ahead Financially
- BIPOC Have It Even Harder
It can be scary to wake up one day with the realization that it’s no one else except yourself to plan and save for your future. The day I learned what a Robo-advisor was, was the same day I finally felt less pressure and more confidence to take control of my money. Eliminating the scary part of finance (thinking you have to speak to a white male sa...
Unfortunately, many of the financial lessons I learned should have come earlier, but like all of us, most of them arrive after a significant life change, or milestone hits us square in the jaw. For me, that was becoming a mom. I suddenly realized that having life insurance was no longer a ‘nice thought,’ but a necessity. I also knew I would potenti...
Trying to convert my friends who aren’t always interested in money isn’t that easy. Instead, I found new friends online and in real life who enjoy spending time chatting about money and encouraging financial goals outside of my comfort zone. These people help me achieve greater success and challenge me to take my money goals a little more seriously...
When I had finally paid off my consumer debt and student loans, I was afraid to spend money on anything for the fear that I would spiral out of control. I didn’t realize that I had already ingrained so many healthy financial habits that it would be challenging for me to push myself over budget. I also realized that you need to spend money that you ...
Again, it’s all about finding a balance between expenses that make you happy and costs that you rush into before realizing it might not have been worth the price. Instant gratification is something that I learned to control in my late 20s when I stopped letting my emotions take the lead during a casual visit to the mall. To this day, I still practi...
While we’re on the topic of budgeting, another essential part of financial success is setting achievable money goals. Over the past five years, this has been the single motivator for me and the reason I’ve stayed so wholly immersed in financial planning. If there’s one thing I love in life, it’s to compete. So, having a goal is the best way to comp...
Of all the life lessons about money I’ve learned, this one was the most emotionally rewarding. During my debt repayment, I started anonymously sharing my financial situation online. Suddenly realizing that unless I were upfront about my money in my relationships with people, I would seriously struggle to achieve my goals. I wasn’t allowing myself t...
You deserve to be paid fairly for your skills, and unfortunately, that isn’t always going to be the reality. The best way to advocate for yourself and others who face discrimination in the workplace and don’t ever earn a fair living wage is to talk about it. When you speak with people who work in a similar industry to you and find out how much they...
I’ve invested a lot of time and energy into learning about the gender wage gap and how restrictive it can be for many women. I became especially passionate about this gap after becoming a mother because I quickly realized that I was missing out on one year of career growth by taking maternity leave. So, I started to make up for the lost time and bu...
The most significant changes we need to encourage are for minority women of colour. Because of systemic racism, if the gender wage gapdoesn’t change and continues to move at its current pace, it will be 111 years before Black women earn the same as white males. For Latinx women, equal pay is 205 years away. By donating money to organizations that f...
- Health care is expensive. Medicare, the federal program that provides health coverage for more than 61 million older Americans, doesn't start until age 65.
- Tapping your nest egg early can be costly. If you retire before 59 1/2, you'll usually pay a 10 percent early withdrawal penalty from most tax-deferred accounts, such as traditional IRAs and 401(k) plans.
- You sacrifice the power of compounding interest. Time is your friend when you are saving for retirement, but not when you are spending. If you sock away $250 a month — $3,000 a year — from age 25 to age 55, you'll have about $237,000 when you retire, assuming you make no withdrawals and earn an average 6 percent annually on your investments.
- You may have a long, long life ahead of you. A woman who retires at 55 will have to make her savings last for 28.6 years, on average, compared to 20.4 years if she retires at 65.
Apr 24, 2024 · These early money lessons saved me from unnecessary debt and financial struggle, and they gave me a sense of confidence that I could stand on my own two feet and be independent as I became an...
Sep 2, 2021 · Once you hit your 30s, it is time to get serious about your finances and money skills. Here are the top financial lessons you need to master this decade.
Jan 10, 2023 · Learn five steps you need to take to retire early, then calculate when you might be able to retire with our early retirement calculator.
