Hello, beautiful people from across the lands! Finances were not something that was taught for me at home. There were indirect good and bad lessons I learned that I carried throughout my adult life. In the beginning stages of my personal finance journey there was so much information that has just truly impacted my life in a positive way. Many I wish I would have known sooner but hey better late than never! In this post I share the 10 best financial tips I learned that did not necessarily come from home. It is my hope that this cycle ends and we begin to have these conversations and lessons sooner and often!. Let’s dive in!
2. Save for an emergency
3. Pay Off Debt
4. Invest in your retirement early
5. Invest in an IRA (Individual Retirement Account) separate from your full time employer
6. Open a custodial account for your children
7. Open a 529 for your children’s education expenses
8. Invest in Index Funds
9. Always have multiple streams of income
10. Build wealth
Action Steps to Take NOW
1st Step: Journal money lessons or traumas you’ve learned
2nd Step: Write down at least 5 money concepts you want to learn more about
3rd Step: Review this list of reputable Personal Finance Experts to begin learning the concepts identified
Conclusion
As tough as it has been not getting these lessons at home it does not have to continue. This is not to shun or shame my family because what you do not know you can not teach. I am aware I have been born in a time where information is easily accessible with just a search bar. It is important that we do not allow this cycle of lack of information and action to continue. It is my hope with this platform in sharing my journey it inspires others to start their own.
Until next time dream, believe, and achieve.
What money lessons do you plan to pass along in your family?
