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.
- 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
- 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
- Get all of your financial goals on paper, so you can start spending more purposefully.
- Create plan to get out of debt.
- Proverbs 22:7 NIV - The rich rule over the poor, and the borrower is slave to the lender.
- Learning Resources:
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