This episode kicks-off Financial Literacy Month!
Ms. Black reviews the 8 Keys for Financial Empowerment
Budgeting-tracking your spending allows you to see where your money is going and identify areas where you can save
Savings- is the first step in building wealth an Emergency Fund stops you from blowing your budget. You can then various savings buckets (i.e. new car, gifting, maintenance)
Debt- deceasing and eliminating debt allows you to save more and put your money to work for you and not someone else.
Credit- managing your credit score save you money by lowering your interest rates and allow you to get better employment opportunities
Investing- saves time and money as your money works for you a the earning compound.
Earning more/ multiple streams of income- the more you earn the more you can save and invest.
Insurance- saves you from having to pay to replace items and can replace the income from a lost love one
Estate Planning- allows your family to save time and money on lawyer and court costs after your passing
Ms. Black, the host of Staying in the Black, is a single mom, homeowner, and public-school educator in NYC. She owns two properties and is one mortgage away from being totally debt-free. She loves traveling the world with her family and has over $1M in her retirement accounts beyond her pension.
Learn more about Ms. Black:
Website: http://www.stayingintheblk.com
Instagram:@stayingintheblk
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