Black Wealth Week

05/31/2023

➡ Once you’ve built some wealth, it’s a good idea to protect it. A common way to do that is through insurance. This could include:

Property insurance for your car or home.
Health insurance for you and your family.
Disability insurance in case you become ill or injured and can’t work.
Life insurance for loved ones after you die.
Long-term care insurance in case you need to live in a nursing home or assisted living facility.

05/24/2023

💰 An emergency fund can help you cope with an unplanned expense or circumstance, like a huge car repair bill or a job layoff. Financial experts generally recommend that your emergency fund contains enough money to cover at least three months’ worth of household expenses.

05/17/2023

Set financial goals

Financial goals can be short-term, mid-term or long-term. A short-term financial goal might be saving money for a vacation. A mid-term financial goal might be wiping out your student loan debt, and a long-term financial goal might be investing money for retirement.

Setting financial goals—and then achieving them—can help put you on the path toward financial security.

So how do you set these goals? Here are some steps that might help:

➡️ Determine what matters most to you. For example, are you eager to eliminate your student loan debt, or are you laser-focused on retiring comfortably?
➡️ Come up with a list of short-term, mid-term and long-term financial goals. Make sure your goals are realistic to avoid getting unnecessarily discouraged.
➡️ Assess your income and expenses. Review the money coming in and going out every month, and then create a monthly budget to keep your financial plan on track.
➡️ Monitor your success. Keep track of the goals you’ve met and those you still aim to reach. As part of this step, consider dividing each long-term goal into bite-size, short-term targets to make them easier to achieve.
➡️ Make adjustments as needed. Accept that your goals might have to change over time. For example, a job layoff or an unexpected hospital stay might change your situation and require you to rethink your goals.

05/10/2023

We are excited to officially announce our Juneteenth brunch. This will be a sellout event, so please get your tickets early!!! ❤️💚🖤💛

See the events tab for more information .

05/04/2023

Know your worth!

You can calculate your net worth by subtracting the dollar amount of your debts (eg; credit cards, mortgage and loans) from the dollar value of your assets (eg; bank accounts, investments, house value, car value). If the total asset value exceeds the total debts, you have a positive net worth. But if the total debts exceed the total asset value, you have a negative net worth.

Visit https://playmoneysmart.fdic.gov/tools/22 for an online net worth calculator.

04/26/2023

By following the steps in the last 3 posts you can create WEALTH, but in order to put it all together, you must start by changing your MINDSET. It's never too late to start!

🌟Wealth mindset—or abundant thinking—is less about what we have and more about what we believe is available to us. Continue checking in for more resources and information for you need to create wealth. And be on the lookout for upcoming wealth building networking events.

Invite your friends, family and business partners to follow us on social media. We're all in this together.

04/19/2023

The 3rd step to creating wealth is Investing! Investing is to grow one's money over time. 🪙💸

One can invest in many types of endeavors (either directly or indirectly) such as stocks or mutual funds, or using money to purchase real estate in hopes of generating rental income and/or reselling it later at a higher price.

04/12/2023

The 2nd step to generating wealth is saving money. 🏦

Here are three great ways to start saving money:
- Use a savings app like Acorns
- Save your loose change when you spend cash
- Auto save with direct deposit and put a flat amount of your paycheck into a savings account. Consider starting with $5 check is you get paid weekly, or $10 if you get paid bi-weekly.

04/09/2023

04/05/2023

It's Wealth Wednesday! 💰💰💰

The first step to creating wealth is to have a budget.

Budgeting doesn't have to be scary or overwhelming. Click below to get started.

https://www.nerdwallet.com/article/finance/budget-worksheet

03/31/2023

April is Financial Literacy Month!

We look forward to launching Wealth Wednesdays featuring weekly financial tips. Check back April 5th for the “4 Steps to Creating Wealth.”