Clever Girl Finance My Wealth Plan Workbook (eBook)

Your Personalized Plan to Ditch Debt, Save Money and Build Real Wealth

Bola Sokunbi (Autor)

eBook Download: EPUB

2024
377 Seiten
Wiley (Verlag)
978-1-394-26693-7 (ISBN)

Infos

Take immediate action toward achieving your financial goals with a collection of practical and easy-to-use worksheets, checklists, and other tools in your customized wealth plan!

In the Clever Girl Finance Workbook, My Wealth Plan, renowned personal finance educator Bola Sokunbi delivers a practical toolkit that empowers you to strategically lay out your long-term financial plans and take immediate action on your financial goals. Sokunbi provides you with custom Q&A pages, financial worksheets, and checklists in which you can enter your personal answers and strategize your next steps.

The tools in this workbook are organized in an intuitive and easy-to-find way, making it easy to fine tune your plans without becoming overwhelmed. You'll discover how to:

• Organize your financial records, track and assess your spending, calculate your net worth, define your money values, and set your financial goals
• Craft a functional budget to help you repay debt or build your savings
• Improve your credit, ensure you have the right insurance, and take advantage of the investment opportunities available to you
• Layout your strategy to earn more in your career and/or through a side hustle
• And much more

Perfect for women who want to improve their financial knowledge and literacy, the Clever Girl Finance Workbook is also ideal for anyone looking for the tools they need to take immediate action to improve their personal finances. Use it as a companion to the Clever Girl Finance book series or as a standalone financial planning guide!

Bola Sokunbi is a Certified Financial Education Instructor (CFEI), investor, finance expert, speaker, podcaster, influencer, and the founder and CEO of Clever Girl Finance, one of the largest personal finance platforms for women in the U.S. Through her platform, Bola empowers women to achieve financial success and independence.

Textauszug

CHAPTER 1
Your Money Story

Our experiences with money and the financial role models we had growing up can be vastly different. Perhaps you had certain financial privileges, or maybe your family always faced financial struggles. Regardless of your background, both the positive and negative aspects of your financial story play a significant role in shaping your current relationship with money. And so, to achieve a positive and fulfilling relationship with your finances, it’s essential to reflect on your financial history and confront any money-related obstacles directly.

So what’s your money story?

This first exercise will help you get clear on how your past and your upbringing ties into your relationship with money today. Take some time to write down your responses to the questions below about your history as it relates to money, and your current financial attitudes and behaviors. Be as detailed and honest as possible in your answers.

Why this exercise is important: Understanding your money story will help you see where you struggle and what causes your anxiety and worry about money. You want to make sure that as you start working on your wealth plan, you address any roadblocks from your history with money, so you can get comfortable about where you are headed with your finances.

What did you learn about money from your parents or parental figures based on how they managed their finances?

If you were aware of money matters or financial challenges in your household growing up, how did you feel?

What were the positives or negatives about money in your life when you were growing up?

What’s the one money memory or emotional experience tied to money you have from growing up that’s stuck with you to this day?

How do you think this money memory or emotional experience affects the way you deal with money today?

Were there any specific financial rules or values that your parents or other family members instilled in you?

What about money makes you anxious or stressed?

Read over your answers and reflect on your thoughts and feelings about what you’ve written. Once you’ve done a thorough reflection, write down the money roadblocks your currently face today and one to three key actions you can take to overcome these roadblocks as well as assign timeframes over the next few days and months to start taking action.

Here are some examples of roadblocks as well as ideas of actions you can take:

• Roadblock: Your family did not speak about money openly.

  If your family didn’t discuss money openly, you might have some financial literacy gaps and you might avoid your finances altogether.

  • Action: Create a plan to improve your financial literacy (you are already on the right path!) and consistently empower yourself with knowledge. Seek support from a certified financial professional like a counselor or therapist if necessary. No shame, no judgment.
• Roadblock: You’ve always spent money without a plan.

  If you grew up in an environment where spending was encouraged or not monitored, you might struggle with overspending.

  • Action: Explore various budgeting methods, start tracking your expenses, and start practicing mindful/intentional spending.
• Roadblock: You were taught to fear investing.

  If your family avoided investing due to fear or a lack of understanding, you might hesitate to invest.

  • Action: Start learning how investing works, start small, and focus on broad diversification.
• Roadblock: Your family was always in debt.

  If you grew up in a household where debt was the norm, you might also normalize debt or struggle with managing it.

  • Action: Create a debt repayment plan to start tackling your existing debt head on and be intentional about avoiding new debt.
• Roadblock: You have a negative money mindset.

  If your upbringing instilled negative beliefs in your mind about money like “money is hard to get” or “rich people are greedy,” you may have been self-sabotaging your own financial progress due to this mindset.

  • Action: Identify your limiting beliefs and write them out. Then challenge them by replacing them with positive and empowering ones.
• Roadblock: You did not grow up around financial goals.

  If your family didn’t set financial goals or prioritize savings, you might struggle with doing this yourself.

  • Action: Lay out the specific financial goals you’d like to achieve and a savings plan for each one.

Roadblocks	Key actions to address roadblocks	Specific dates to take action by (Set a reminder on your calendar)

Remember, recognizing these patterns is the first step toward breaking free. By acknowledging and addressing them, you can develop healthier financial habits and achieve financial stability.

Unsure about how to take specific action? Don’t worry, there are several action tasks and exercises throughout this workbook that can help you challenge various roadblocks you might be experiencing. So keep going!

Your Why

As you work on building wealth it’s super-important to focus on having a plan for emergencies, learning to budget, paying off debt, having savings goals, and investing – but before you start making those plans, it’s important to have the right mindset and focus in place.

If you aren’t quite sure, your why is essentially the driving force that keeps you going, especially when life starts life-ing and everything in you wants to quit. It provides you with a sense of direction and is tied to your purpose, which in turn ties into you living a fulfilled life. It can also help you overcome your fears and doubts because you’ll be reminded of your purpose, which is bigger than any fear or doubt you might have.

Finding your why is about being honest with yourself and getting clear on what truly makes you happy and the deeper motivation that causes you to want certain things in your life. It should be the reason for the goals you choose to pursue.

Keep in mind that you can have multiple whys. You can even have a why associated with different aspects of your life, like your family and relationships, your career, your health and wellness, your personal growth, and, of course, your finances.

For example, when it comes to the goals you have that are tied to your family and relationships, your why might be to create beautiful and long-lasting memories, spend quality time together, and cultivate deeper connections and emotional intimacy.

Your why in your career might be to make a positive impact through the work that you do, find fulfillment through work, and be a strong leader in your field that inspires others.

For your health and wellness, your why might be to improve your mental and emotional well-being, improve your physical fitness, and reduce stress and overwhelm in your life.

For your personal growth, it might be to continue to develop and improve on specific skills, build up your self-confidence and communication skills, cultivate mindfulness, and grow a deeper sense of self.

Now when it comes to your finances, it’s important that you really spend the time to lay out your why. This is because your finances pretty much touch every aspect of your life in one way or another. While not the sole factor, money is a key contributor to:

• The quality of life you live with your family and the experiences you have
• Your ability to acquire the education and skills needed for a career path
• Improving your health and wellness through access to good nutrition, good healthcare, a good living environment, and...

Produkt-Details

• Erscheint lt. Verlag: 5.11.2024
• Sprache: englisch
• Themenwelt: Sachbuch/Ratgeber ► Beruf / Finanzen / Recht / Wirtschaft ► Geld / Bank / Börse
• Schlagworte: personal finance • personal finance answers • personal finance book • personal finance checklists • personal finance faq • personal finance guide • personal finance handbook • personal finance toolkit • personal finance tools • personal finance worksheets
• ISBN-10: 1-394-26693-6 / 1394266936
• ISBN-13: 978-1-394-26693-7 / 9781394266937