Life & Work

Build Your Wealth by Planning for Your Future

Build Your Wealth by Planning for Your Future, future, loren, loren ridinger, build your wealth

I have something called money confidence. My money mindset is so positive because JR and I worked hard to make it that way. Changing our mindset wasn't easy, but something that helped was planning for our future when success came our way. There's no question that we were struggling before Market America took off, but once things took off, we made sure to be educated in our finances. So, we planned. We built our wealth, and we felt confident in our money. The only thing is that it does require a little work. Build your wealth and plan for your future. Read on for more!

Build Your Wealth by Planning for Your Future

Use a financial plan to set up goals. It's a way to see holes in your financial future. Women, especially single women, are less likely to have a financial plan in place compared to single and married men. Your plan should cover everything from daily budgeting and paying down debt to saving for the future and protecting what you have. Consider your short-term and long-term goals. What will take to reach them? — time to evaluate, ladies.

An emergency fund is crucial no matter your gender or age range. Life can come at you in ten different ways so having a sense of security is incredibly important. If you don’t have one in place, consider monitoring your spending to find ways to save a little bit from each paycheck. Think about establishing an automatic transfer from your checking to a savings account each time you get paid. That way you can build your emergency fund with little effort on your part.

Don't underestimate yourself, ladies. Invest, even if you're afraid. I get it. Women are less likely to take risks but you're missing out on a wealth of money. Investing is crucial in your long term financial security. Plus, there are so many easy ways to get out there and do it.