November 12, 2025 • 23 mins
In this episode, Darice Rene presents the '10 Principles of Wealth Building for Ambitious Women,' aiming to transform financial mindsets and encourage bold actions. She discusses principles such as ownership, cash flow, investing over saving, creating legacy beyond a paycheck, strategic use of debt, money management, overcoming a scarcity mindset, building generational wealth, leveraging supportive communities, and taking bold actions. By dissecting each principle with real-life examples and actionable steps, Darice Rene empowers women to build wealth purposefully and confidently. Listeners are also encouraged to take a quiz to understand their unique wealth-building path.
00:00 Introduction to Wealth Building
00:49 Meet Your Guide: Darice Rene
02:30 Principle 1: Ownership Over Everything
04:16 Principle 2: Cash Flow is Queen
05:32 Principle 3: Saving Alone Won't Save You
07:49 Principle 4: Your Job is Not Your Legacy
09:02 Principle 5: Debt Can Be a Weapon or a Wound
11:06 Principle 6: What You Keep Matters More Than What You Make
13:28 Principle 7: A Broke Mindset Builds a Broke Bank Account
15:13 Principle 8: Generational Wealth Starts with One Bold Decision
17:16 Principle 9: Wealth is Built in Community
18:38 Principle 10: Wealth Favors the Action Takers
20:23 Conclusion and Invitation to Prosper Society
Resources + Power Moves
When I find something that actually works, I share it. These are the tools, tech, and resources I use every day to run my companies, support my clients, and keep my own wealth-building journey tight. If you’re building something real, these will help you do it with more ease, clarity, and confidence.
Tech + Business Tools
- Email Marketing – Flodesk
- Smart Contracts + E-Signatures – PandaDoc
- Workspace Productivity – Google Workspace
- Budgeting Made Simple – Monarch Money
Podcast & Media Tools
Community + Support
🔑 Stay Connected
- Attend our next Money, Legacy & Her Event
- Follow me on Instagram: @daricerene
💬 Loved this episode? Share it with a friend and leave a review to help more women build wealth their way.
I only recommend tools and resources I actually use in my tech-focused businesses and with my clients. These links may be affiliate links, which means I may earn a commission if you purchase through them (at no extra cost to you). Your support helps me continue creating free content for this community.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Darice Rene (00:00):
When I started building wealth, I thought I
(00:02):
just needed to work harder, savemore, and pray the rest worked
out. But the more I earned, themore confused I felt. And I had
certifications, financialservices licenses, and all of
the experts around me I couldfind. It's taken me a long time
(00:24):
to realize that there areprinciples and strategies we
need to build wealth. We need aframework that shifts us from
survival mode into execution andgrowth.
Today, I'm sharing theseprinciples so you can stop
guessing and start growing.Welcome to Money, Legacy and
(00:55):
Her. The podcast where ambitionmeets action and wealth is built
with receipts. I'm your host,Therese Renee. Every week we
break down the real money moves,mindset shifts, and bold
strategies ambitious women needto create legacy on their terms.
(01:15):
This isn't hustle culture,Welcome to the 10 principles of
wealth building for ambitiouswomen. I'm Darice Renee and I'm
(01:37):
here to help you thinkdifferently about money, wealth
and legacy. If you're tired ofplaying it safe or just
surviving financially, it's timeto change your mindset and take
bold action. These principlesare more than just advice.
They're guideposts designed tohelp women like you build wealth
(01:58):
with purpose and confidence.
So what can you expect? We'llbreak down each principle, why
it matters and how to apply itpractically in your life. By the
end of this guide, you'll have aclear actionable blueprint for
building wealth your way. So whoam I? I'm Darice Renee and I'm
(02:21):
on a mission to help women likeyou build wealth.
I myself am a first generationwealth builder, a real estate
investor, a business strategist,and the founder of a phenomenal
community that we call BuildWealth Your Way. We started in
2023 and it has evolved and I'mso proud to be a part of it.
(02:45):
Here's the thing, I know whatit's like to navigate the
challenges of creating financialsecurity without a roadmap.
That's why I'm passionate aboutequipping women with the tools,
the mindset, and the confidenceto build, grow, and protect
their wealth. I have spent yearsguiding women through the
(03:06):
process of owning theirfinancial futures, whether it
was through smart investments,real estate, building legacy
businesses, or just simplyshifting their mindsets from
surviving to thriving.
And one thing I've learned isthis, wealth isn't just about
what you have, it's about howyou think, how you act, and how
(03:28):
you build, as well as who yousurround yourself with. This
audio guide is all aboutbreaking down the 10 principles
of wealth building, principlesthat will challenge the status
quo and empower you to make boldfinancial move. Let's get
started on your journey towealth and legacy. You're in the
(03:51):
right place and I'm here to walkwith you every step of the way.
Let's dive into the firstcommandment.
Principle number one, ownershipover everything. Renting wealth
building tools, whether homes,businesses, or knowledge keeps
you dependent on your incomestreams, your investments, and
(04:13):
your intellectual capital.Here's why it matters. Ownership
is power. So when you own yourincome streams and your assets,
you control your financialfuture.
Renting, whether it's yourliving space or your business
space or your skills meanssomeone else holds the keys. At
(04:35):
our very first Build Wealth YourWay event in 2023, I had an
expert on the panel. She was arealtor who specialized in
working exclusively with womengoing through divorce. She
helped them start over and inmost cases they had to rebuild
(04:56):
their lives, needing to give uptheir homes for which most of us
is our largest asset. Here's howyou should take action.
Start by evaluating your assets.List three areas where you can
shift from dependency toownership in the next month.
(05:18):
Look for low hanging fruit. Andas a reflection question, what
area of your life or financesare you currently renting,
whether it's physical, financialor intellectual that you can
move towards owning? If you hadto choose one area of your life
(05:38):
to take full ownership thisyear, what would it be and why?
Principle number two, cash flowis queen. Net worth looks good
on paper, but if your moneyisn't working for you, you're
still working for money. Wealthisn't just about what you own,
(06:01):
it's about what pays you. Here'swhy it matters. It's easy to
feel wealthy when your net worthis high, but without liquid cash
flow, your financial security isfragile.
The goal isn't just to lookrich, it's to live comfortably
even in tough times. Thishappens a lot with the boutique
(06:24):
owners that I coach. They have abooming business, but their
income is mostly tied up ininventory. So if sales dip, some
of them can't cover basicexpenses. Having consistent cash
flow becomes of significantimportance in those
environments.
(06:46):
So to take action, identify yourtop three cash flow sources. How
can you increase them ordiversify them in the next
quarter? Principle number three,saving a loan won't save you.
Stashing cash in a savingsaccount won't build wealth.
(07:09):
Investing it strategically will.
Most of us are taught to savediligently, but saving alone
doesn't make your money grow.With inflation eating away at
cash's value, savings that justsits in a bank account actually
loses purchasing power overtime. So it's of importance to
(07:32):
put that money to work. I onceworked with a woman some years
ago who had diligently savedlike over $30,000 It took her
years and she felt secure untilshe realized that her money's
value had reduced in buyingpower. So she watched her
(07:56):
savings barely grow and comparedto friends who invested, she
understood where the mistake wasmade.
Realizing this, she took a leapand started investing in a small
rental property, which soonprovided consistent cash flow.
Not only did the cash flowhappen, the property increased
(08:21):
in value as well. It hadappreciated. So your task is to
identify a portion of yoursavings that you can allocate to
investments. Start smiling ifyou have to, if you're nervous.
Whether it's a low cost indexfund or some kind of micro
investment platform, begin withjust 10% of your savings and
(08:42):
track its growth over sixmonths. If this really truly is
difficult for you, then Isuggest you start thinking about
working with a financial coachor someone who is trained in
financial trauma. This is a realthing. Most of us have not been
(09:03):
diagnosed and it's totally okayto go and get help, but relying
on savings at the end of the dayas your financial strategy is
not going to help you in thelong run. Principle number four,
your job is not your legacy.
Paychecks keep the lights on,ownership turns them into
(09:27):
floodlights. So build somethingthat outlives you. Here's why it
matters. Relying solely on a jobto build your wealth, put your
financial future in someone elsehands. True wealth comes from
creating assets that generateincome whether you're working or
not.
And we know this. We see itevery day now on the news.
(09:50):
People are loyally working forcompanies and governments who
can lay them off at any moment.They're building careers, not
legacy. So take energy to investin a side business that can help
you weather the storms andultimately set you up for
generational wealth.
(10:11):
Here's how to take action. Listthree income generating projects
or investments you could startoutside of your job. Prioritize
the one that excites you themost and commit to dedicating
just two hours a week to it tostart. Principle number five,
(10:32):
debt can be a weapon or a wound.Credit can create leverage or
leave you bleeding.
Learn the difference before youborrow. Here's why it matters.
Not all debt is bad. Strategicdebt can help build wealth while
(10:54):
uncontrolled debt can crippleit. Understanding the difference
between productive anddestructive debt is key to
financial security.
This is something that I learnedabout as a real estate investor
early on. I knew a businessowner who used a line of credit
to purchase a rental property.When we started over twenty some
(11:17):
years ago, it was very common totap into home equity loans or
lines of credit to buy rentalproperty. The cash flow from
tenants, typically if you'vedone the due diligence and
understand numbers, will coverthe payments turning that debt
into a wealth building tool. Onthe other hand, if you are using
(11:42):
those lines of credit or loansinstead to rack up credit card
debt for lifestyle expenses,well, that's just going to lead
to stress and financial strain.
One debt builds wealth while theother drains it. So to take
action, take inventory of yourcurrent debts. Prioritize them
(12:04):
as productive, like real estateor business loans, or
destructive, like high interestcredit card debt. And then
you'll want to make a plan toeliminate or consolidate
destructive debt first. Andplease keep in mind, we've all
been there.
Some of us are still there.There's no judgment to be
(12:24):
passed. This guide is all aboutputting the power in your hands.
Number six, what you keepmatters more than what you make.
High earners can still be broke.
If you don't master moneymanagement, more income just
(12:46):
means more expensive mistakes.We've seen this. I call it the
new money problem. When you arefrom a household that has
struggled with money, pick andchoose how to spend money, and
you finally get your hands onit, you're not necessarily
equipped to manage it. And thatis all right.
(13:09):
We're not taught thisinformation in school, but
here's the thing, income doesn'tequal wealth if it slips through
your fingers. So budgeting andintentional spending can protect
your financial growth. I onceconsulted with a woman, a
business owner who made 6figures, but constantly felt
(13:31):
broke. Why? Because every pennythat she brought into her
household went to her lifestyleupgrades, bigger house, luxury
car, expensive vacations.
It wasn't until she startedtracking her spending that she
realized she was losing her hardearned wealth to lifestyle
(13:53):
inflation, and that's real. Sohere's the step. Create a simple
budget. Track your spending forthirty days and identify where
your money leaks out. Implementa pay yourself first strategy
and automate some of that moneyto go into savings and
investments before discretionaryspending.
(14:15):
I'm never going to be of thecamp that you can't have the
latte because the truth of thematter is, is that latte is not
necessarily stopping you frombuilding wealth. However, the
behavior of the latte, thatthat's something to think about.
What is the spending replacingfor you or taking room away
(14:39):
from? Here's a reflectionquestion. Are you tracking where
your money goes each month orare you focusing solely on
making more?
Number seven, a broke mindsetbuilds a broke bank account.
(15:01):
Scarcity thinking sabotageswealth building. If you're
afraid to invest, you'll staystuck. Here's why it matters.
Your mindset shapes yourfinancial decisions, period.
We can argue about it. We candebate it, but it is the truth.
(15:22):
When you view money as scarce,you make fear based choices that
limit your growth. One of myclients once shared how she
never invested because herparents constantly feared losing
money. So she held onto cash,just accumulating it.
(15:43):
Needing to break that mindset,she started with very small
investments so that she couldbuild her confidence as she saw
her money grow. And I applaudedher so much because although the
amounts that she started withwere nearly insignificant, it
(16:04):
was enough for her to makeprogress and to be able to show
herself what was possible. Sohere's how you'll wanna take
action. Identify one limitingbelief you have about money.
Challenge it by taking one smallfinancial risk, like investing a
(16:26):
small amount in a low riskportfolio.
And here's a reflectionquestion. What stories or
beliefs about money did you growup with that may be holding you
back today? Principle numbereight. Generational wealth
starts with one bold decision.Be the first in your family to
(16:52):
shift from survival mode tostrategic wealth building.
Someone has to start, why notyou? Here's the thing, breaking
the cycle of financial strugglerequires courage. Someone has to
be the trailblazer who changesthe narrative. And if you've
never seen it in your household,it's hard to take hold of it.
(17:18):
It's hard to imagine.
In the real estate world, one ofthe ways that a lot of people
get started in buildinggenerational wealth is through
something called house hacking.It's a common strategy where you
buy a duplex or even a triplexinstead of a single family home
(17:39):
and you live in one unit whilerenting the others. It can
quickly transform your networth, especially when it's
coupled with other strategies.And most importantly, it can
quickly improve your family'swealth status for generations.
So here's what I challenge youto do.
(18:02):
Identify one bold financial moveyou can make this year, whether
it's buying a property,launching a business, or
investing in your financialeducation. If you can't dream
big enough or you don't haveanyone in your immediate circle
that's making bold wealth moves,then it's time to level up. Iron
(18:25):
sharpens iron, and if you're thesmartest person in the room,
then you're in the wrong room.So here's a question for you to
think about. Who in your familyor community can benefit from
seeing you take that bold step?
Principle number nine. Wealth isbuilt in community, not in
(18:52):
isolation. Surround yourselfwith ambitious like minded women
who challenge, support, andinspire you. You don't need
permission to build wealth, butyou do need the right circle to
sustain it. It matters.
A supportive community is gonnakeep you accountable, keep you
(19:12):
inspired and keep you resilient.And the key word is supportive.
I personally have had theabsolute pleasure and honor of
being in community with some ofthe baddest, most generous and
most intelligent women my entiretime on the planet. There is no
(19:35):
success I can point to thatwasn't tied to a relationship
with a woman who held my hand,cheered me on, or gave me tough
love. And because that's been myexperience, I know how to
cultivate it and I want that forevery woman I know.
(19:56):
So here's your job. Seek out agroup of ambitious women to
build with. Join a communitywhere wealth building is a
shared mission. Principle number10. Wealth favors the action
takers.
Reading, planning, and wishingwon't make you rich. Execution
(20:21):
does. It matters. Bold actionseparates dreamers from doers.
Wealth builders take risks, theymake moves and they learn from
their mistakes and they getbetter.
Between my business networks andmy real estate investment clubs,
I'm around dreamers every day.Between my business networks and
(20:46):
my real estate investment clubs,I'm around dreamers every day.
In the span of the last threeyears, I have acquired and
disposed of seven real estateinvestments through either my
own portfolio or with partners.In the same span of time, I know
four women personally that haveonly talked about investing.
(21:12):
They've attended meetings,they've gone to workshops,
they've been in training,they've read books and followed
all the experts on social mediaand yet nothing.
So here's what I would challengeyou to do. Identify one action
(21:32):
you can take today, no matterhow small to move you closer to
your financial goals. And here'sa reflection question. What's
holding you back from takingthat action today? How can you
overcome it?
You've just heard the 10principles of wealth building
(21:54):
for ambitious women. Theseprinciples are more than just
ideas. They're foundations forcreating financial independence,
building a legacy and livinglife on your terms. But here's
the thing. Wealth building doesnot happen in isolation.
It's easier, faster and way morepowerful when you surround
(22:18):
yourself with like minded womenwho are on the same journey.
Before you go, let me ask youthis. Do you actually know your
path to wealth? Because everywoman's journey looks different
and your next move depends onwhere you are right now. Take my
free quiz, what's your path towealth and find out whether
(22:41):
you're a legacy starter, abuilder CEO, a visionary
investor, or momentum maker.
It only takes three minutes andyou'll get a custom roadmap to
start building wealth your way.Head to quiz.dereserenay.com
that's quiz.dereserene.com andlet's get your results. And
(23:08):
that's a wrap on this episode ofMoney, Legacy and Her. I hope
you're walking away with theinsight and the fire you need to
take your next bold step becausewhen women build wealth, we
shift generations. If thisepisode spoke to you, subscribe,
rate and leave a review.
(23:29):
It helps more women find thismovement. Want more? Head to
moneylegacypodcast.com to getconnected and grab tools to
support your legacy journey.This is Darice Renee signing
off. Stay focused, stay powerfuland keep making money moves with
(23:49):
purpose.
When I started building wealth, I thought I
(00:02):
just needed to work harder, savemore, and pray the rest worked
out. But the more I earned, themore confused I felt. And I had
certifications, financialservices licenses, and all of
the experts around me I couldfind. It's taken me a long time
(00:24):
to realize that there areprinciples and strategies we
need to build wealth. We need aframework that shifts us from
survival mode into execution andgrowth.
Today, I'm sharing theseprinciples so you can stop
guessing and start growing.Welcome to Money, Legacy and
(00:55):
Her. The podcast where ambitionmeets action and wealth is built
with receipts. I'm your host,Therese Renee. Every week we
break down the real money moves,mindset shifts, and bold
strategies ambitious women needto create legacy on their terms.
(01:15):
This isn't hustle culture,Welcome to the 10 principles of
wealth building for ambitiouswomen. I'm Darice Renee and I'm
(01:37):
here to help you thinkdifferently about money, wealth
and legacy. If you're tired ofplaying it safe or just
surviving financially, it's timeto change your mindset and take
bold action. These principlesare more than just advice.
They're guideposts designed tohelp women like you build wealth
(01:58):
with purpose and confidence.
So what can you expect? We'llbreak down each principle, why
it matters and how to apply itpractically in your life. By the
end of this guide, you'll have aclear actionable blueprint for
building wealth your way. So whoam I? I'm Darice Renee and I'm
(02:21):
on a mission to help women likeyou build wealth.
I myself am a first generationwealth builder, a real estate
investor, a business strategist,and the founder of a phenomenal
community that we call BuildWealth Your Way. We started in
2023 and it has evolved and I'mso proud to be a part of it.
(02:45):
Here's the thing, I know whatit's like to navigate the
challenges of creating financialsecurity without a roadmap.
That's why I'm passionate aboutequipping women with the tools,
the mindset, and the confidenceto build, grow, and protect
their wealth. I have spent yearsguiding women through the
(03:06):
process of owning theirfinancial futures, whether it
was through smart investments,real estate, building legacy
businesses, or just simplyshifting their mindsets from
surviving to thriving.
And one thing I've learned isthis, wealth isn't just about
what you have, it's about howyou think, how you act, and how
(03:28):
you build, as well as who yousurround yourself with. This
audio guide is all aboutbreaking down the 10 principles
of wealth building, principlesthat will challenge the status
quo and empower you to make boldfinancial move. Let's get
started on your journey towealth and legacy. You're in the
(03:51):
right place and I'm here to walkwith you every step of the way.
Let's dive into the firstcommandment.
Principle number one, ownershipover everything. Renting wealth
building tools, whether homes,businesses, or knowledge keeps
you dependent on your incomestreams, your investments, and
(04:13):
your intellectual capital.Here's why it matters. Ownership
is power. So when you own yourincome streams and your assets,
you control your financialfuture.
Renting, whether it's yourliving space or your business
space or your skills meanssomeone else holds the keys. At
(04:35):
our very first Build Wealth YourWay event in 2023, I had an
expert on the panel. She was arealtor who specialized in
working exclusively with womengoing through divorce. She
helped them start over and inmost cases they had to rebuild
(04:56):
their lives, needing to give uptheir homes for which most of us
is our largest asset. Here's howyou should take action.
Start by evaluating your assets.List three areas where you can
shift from dependency toownership in the next month.
(05:18):
Look for low hanging fruit. Andas a reflection question, what
area of your life or financesare you currently renting,
whether it's physical, financialor intellectual that you can
move towards owning? If you hadto choose one area of your life
(05:38):
to take full ownership thisyear, what would it be and why?
Principle number two, cash flowis queen. Net worth looks good
on paper, but if your moneyisn't working for you, you're
still working for money. Wealthisn't just about what you own,
(06:01):
it's about what pays you. Here'swhy it matters. It's easy to
feel wealthy when your net worthis high, but without liquid cash
flow, your financial security isfragile.
The goal isn't just to lookrich, it's to live comfortably
even in tough times. Thishappens a lot with the boutique
(06:24):
owners that I coach. They have abooming business, but their
income is mostly tied up ininventory. So if sales dip, some
of them can't cover basicexpenses. Having consistent cash
flow becomes of significantimportance in those
environments.
(06:46):
So to take action, identify yourtop three cash flow sources. How
can you increase them ordiversify them in the next
quarter? Principle number three,saving a loan won't save you.
Stashing cash in a savingsaccount won't build wealth.
(07:09):
Investing it strategically will.
Most of us are taught to savediligently, but saving alone
doesn't make your money grow.With inflation eating away at
cash's value, savings that justsits in a bank account actually
loses purchasing power overtime. So it's of importance to
(07:32):
put that money to work. I onceworked with a woman some years
ago who had diligently savedlike over $30,000 It took her
years and she felt secure untilshe realized that her money's
value had reduced in buyingpower. So she watched her
(07:56):
savings barely grow and comparedto friends who invested, she
understood where the mistake wasmade.
Realizing this, she took a leapand started investing in a small
rental property, which soonprovided consistent cash flow.
Not only did the cash flowhappen, the property increased
(08:21):
in value as well. It hadappreciated. So your task is to
identify a portion of yoursavings that you can allocate to
investments. Start smiling ifyou have to, if you're nervous.
Whether it's a low cost indexfund or some kind of micro
investment platform, begin withjust 10% of your savings and
(08:42):
track its growth over sixmonths. If this really truly is
difficult for you, then Isuggest you start thinking about
working with a financial coachor someone who is trained in
financial trauma. This is a realthing. Most of us have not been
(09:03):
diagnosed and it's totally okayto go and get help, but relying
on savings at the end of the dayas your financial strategy is
not going to help you in thelong run. Principle number four,
your job is not your legacy.
Paychecks keep the lights on,ownership turns them into
(09:27):
floodlights. So build somethingthat outlives you. Here's why it
matters. Relying solely on a jobto build your wealth, put your
financial future in someone elsehands. True wealth comes from
creating assets that generateincome whether you're working or
not.
And we know this. We see itevery day now on the news.
(09:50):
People are loyally working forcompanies and governments who
can lay them off at any moment.They're building careers, not
legacy. So take energy to investin a side business that can help
you weather the storms andultimately set you up for
generational wealth.
(10:11):
Here's how to take action. Listthree income generating projects
or investments you could startoutside of your job. Prioritize
the one that excites you themost and commit to dedicating
just two hours a week to it tostart. Principle number five,
(10:32):
debt can be a weapon or a wound.Credit can create leverage or
leave you bleeding.
Learn the difference before youborrow. Here's why it matters.
Not all debt is bad. Strategicdebt can help build wealth while
(10:54):
uncontrolled debt can crippleit. Understanding the difference
between productive anddestructive debt is key to
financial security.
This is something that I learnedabout as a real estate investor
early on. I knew a businessowner who used a line of credit
to purchase a rental property.When we started over twenty some
(11:17):
years ago, it was very common totap into home equity loans or
lines of credit to buy rentalproperty. The cash flow from
tenants, typically if you'vedone the due diligence and
understand numbers, will coverthe payments turning that debt
into a wealth building tool. Onthe other hand, if you are using
(11:42):
those lines of credit or loansinstead to rack up credit card
debt for lifestyle expenses,well, that's just going to lead
to stress and financial strain.
One debt builds wealth while theother drains it. So to take
action, take inventory of yourcurrent debts. Prioritize them
(12:04):
as productive, like real estateor business loans, or
destructive, like high interestcredit card debt. And then
you'll want to make a plan toeliminate or consolidate
destructive debt first. Andplease keep in mind, we've all
been there.
Some of us are still there.There's no judgment to be
(12:24):
passed. This guide is all aboutputting the power in your hands.
Number six, what you keepmatters more than what you make.
High earners can still be broke.
If you don't master moneymanagement, more income just
(12:46):
means more expensive mistakes.We've seen this. I call it the
new money problem. When you arefrom a household that has
struggled with money, pick andchoose how to spend money, and
you finally get your hands onit, you're not necessarily
equipped to manage it. And thatis all right.
(13:09):
We're not taught thisinformation in school, but
here's the thing, income doesn'tequal wealth if it slips through
your fingers. So budgeting andintentional spending can protect
your financial growth. I onceconsulted with a woman, a
business owner who made 6figures, but constantly felt
(13:31):
broke. Why? Because every pennythat she brought into her
household went to her lifestyleupgrades, bigger house, luxury
car, expensive vacations.
It wasn't until she startedtracking her spending that she
realized she was losing her hardearned wealth to lifestyle
(13:53):
inflation, and that's real. Sohere's the step. Create a simple
budget. Track your spending forthirty days and identify where
your money leaks out. Implementa pay yourself first strategy
and automate some of that moneyto go into savings and
investments before discretionaryspending.
(14:15):
I'm never going to be of thecamp that you can't have the
latte because the truth of thematter is, is that latte is not
necessarily stopping you frombuilding wealth. However, the
behavior of the latte, thatthat's something to think about.
What is the spending replacingfor you or taking room away
(14:39):
from? Here's a reflectionquestion. Are you tracking where
your money goes each month orare you focusing solely on
making more?
Number seven, a broke mindsetbuilds a broke bank account.
(15:01):
Scarcity thinking sabotageswealth building. If you're
afraid to invest, you'll staystuck. Here's why it matters.
Your mindset shapes yourfinancial decisions, period.
We can argue about it. We candebate it, but it is the truth.
(15:22):
When you view money as scarce,you make fear based choices that
limit your growth. One of myclients once shared how she
never invested because herparents constantly feared losing
money. So she held onto cash,just accumulating it.
(15:43):
Needing to break that mindset,she started with very small
investments so that she couldbuild her confidence as she saw
her money grow. And I applaudedher so much because although the
amounts that she started withwere nearly insignificant, it
(16:04):
was enough for her to makeprogress and to be able to show
herself what was possible. Sohere's how you'll wanna take
action. Identify one limitingbelief you have about money.
Challenge it by taking one smallfinancial risk, like investing a
(16:26):
small amount in a low riskportfolio.
And here's a reflectionquestion. What stories or
beliefs about money did you growup with that may be holding you
back today? Principle numbereight. Generational wealth
starts with one bold decision.Be the first in your family to
(16:52):
shift from survival mode tostrategic wealth building.
Someone has to start, why notyou? Here's the thing, breaking
the cycle of financial strugglerequires courage. Someone has to
be the trailblazer who changesthe narrative. And if you've
never seen it in your household,it's hard to take hold of it.
(17:18):
It's hard to imagine.
In the real estate world, one ofthe ways that a lot of people
get started in buildinggenerational wealth is through
something called house hacking.It's a common strategy where you
buy a duplex or even a triplexinstead of a single family home
(17:39):
and you live in one unit whilerenting the others. It can
quickly transform your networth, especially when it's
coupled with other strategies.And most importantly, it can
quickly improve your family'swealth status for generations.
So here's what I challenge youto do.
(18:02):
Identify one bold financial moveyou can make this year, whether
it's buying a property,launching a business, or
investing in your financialeducation. If you can't dream
big enough or you don't haveanyone in your immediate circle
that's making bold wealth moves,then it's time to level up. Iron
(18:25):
sharpens iron, and if you're thesmartest person in the room,
then you're in the wrong room.So here's a question for you to
think about. Who in your familyor community can benefit from
seeing you take that bold step?
Principle number nine. Wealth isbuilt in community, not in
(18:52):
isolation. Surround yourselfwith ambitious like minded women
who challenge, support, andinspire you. You don't need
permission to build wealth, butyou do need the right circle to
sustain it. It matters.
A supportive community is gonnakeep you accountable, keep you
(19:12):
inspired and keep you resilient.And the key word is supportive.
I personally have had theabsolute pleasure and honor of
being in community with some ofthe baddest, most generous and
most intelligent women my entiretime on the planet. There is no
(19:35):
success I can point to thatwasn't tied to a relationship
with a woman who held my hand,cheered me on, or gave me tough
love. And because that's been myexperience, I know how to
cultivate it and I want that forevery woman I know.
(19:56):
So here's your job. Seek out agroup of ambitious women to
build with. Join a communitywhere wealth building is a
shared mission. Principle number10. Wealth favors the action
takers.
Reading, planning, and wishingwon't make you rich. Execution
(20:21):
does. It matters. Bold actionseparates dreamers from doers.
Wealth builders take risks, theymake moves and they learn from
their mistakes and they getbetter.
Between my business networks andmy real estate investment clubs,
I'm around dreamers every day.Between my business networks and
(20:46):
my real estate investment clubs,I'm around dreamers every day.
In the span of the last threeyears, I have acquired and
disposed of seven real estateinvestments through either my
own portfolio or with partners.In the same span of time, I know
four women personally that haveonly talked about investing.
(21:12):
They've attended meetings,they've gone to workshops,
they've been in training,they've read books and followed
all the experts on social mediaand yet nothing.
So here's what I would challengeyou to do. Identify one action
(21:32):
you can take today, no matterhow small to move you closer to
your financial goals. And here'sa reflection question. What's
holding you back from takingthat action today? How can you
overcome it?
You've just heard the 10principles of wealth building
(21:54):
for ambitious women. Theseprinciples are more than just
ideas. They're foundations forcreating financial independence,
building a legacy and livinglife on your terms. But here's
the thing. Wealth building doesnot happen in isolation.
It's easier, faster and way morepowerful when you surround
(22:18):
yourself with like minded womenwho are on the same journey.
Before you go, let me ask youthis. Do you actually know your
path to wealth? Because everywoman's journey looks different
and your next move depends onwhere you are right now. Take my
free quiz, what's your path towealth and find out whether
(22:41):
you're a legacy starter, abuilder CEO, a visionary
investor, or momentum maker.
It only takes three minutes andyou'll get a custom roadmap to
start building wealth your way.Head to quiz.dereserenay.com
that's quiz.dereserene.com andlet's get your results. And
(23:08):
that's a wrap on this episode ofMoney, Legacy and Her. I hope
you're walking away with theinsight and the fire you need to
take your next bold step becausewhen women build wealth, we
shift generations. If thisepisode spoke to you, subscribe,
rate and leave a review.
(23:29):
It helps more women find thismovement. Want more? Head to
moneylegacypodcast.com to getconnected and grab tools to
support your legacy journey.This is Darice Renee signing
off. Stay focused, stay powerfuland keep making money moves with
(23:49):
purpose.
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