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We will discuss the Top 5 Tips for Fixing Your Finances with Kewon Singleton. Kewon provides great information on budgeting, saving, generational wealth and more.

 

 

 Show Notes

1. Budget

  • Have a sit-down meeting with your spouse on monthly basis to talk finance.
  • Write budget down for each month or in an Excel spreadsheet.
  • Plan ahead for things you know that are coming up.
  • Track budget with apple or android app mint.com

2. Saving

  • Save at least 10% of income monthly.
  • Ally Bank has online savings accounts with rates 10 times of brick and mortar banks. 

3. Reduce Expenses

  • Give yourself a raise by spending less on everything.
  • If you can afford to spend it you can afford to save it.
  • Living on less than you make is the key.

4. Life Insurance

  • Generational wealth is something you build on a daily basis.
  • Every major purchase you make is money not going towards your future descendants.
  • Every interest payment is money that could go to them.
  • Proverbs 13:22 - A good person leaves an inheritance for their children’s children, but a sinner’s wealth is stored up for the righteous.

5. Set Goals

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