Savings. Stocks. Scale. What the hell? - #DearSisterCLT
I love to joke and use common terms for what might seem complex to others. This isn’t something that came as of late - I’ve done this since I was a chap. So, when I took it upon myself to describe buying stock like buying bundles of hair last year - it triggered more than laughs… it gave me leverage. That triggered my 1st speaking engagement to a group of roughly 100+ College students to starting this blog to in January being invited to be a panelist for #DearSisterCLT.
What is interesting about the event is that in 2017 I was just an attendee sipping orange juice/faux mimosa to having holding a microphone… with a faux-mosa in hand. Yet like I said within my righteously ratchet yet refine TedTalk - the 365 between the events yanked me into formation. You see, during that time I wasn’t happy - my high paying job was blah, I just broke up with my cheating boyfriend (or whatever) and months prior burying my dad. Whew Chile, I was a cluster-fuck of something. Yet, during that time I knew a shift that would snatch my closure back was coming. My contract job ended, I had a nice savings and I pressing play on “Living my Best Life”. For a few months I focused and flowed into my new life.
And scene, Beloved
So, you will find my presentation from #DearSisterCLT within this post. I have it watermarked to the heavens for this swippers who be swipping —> PowerPoint (Make sure you view in PowerPoint to see the Memes) , PDF.
So what key points can you take away? I figured you would ask that:
We have Trillion Dollar Spending Power, but we hold Dollar Bills in Wealth. As the deck stated:
The median wealth for single black women:
If she is 18 to 35, $100.00
If she is 36 to 46, $5.00
Treat Saving and Investing like a bill. We make paying Sallie Mae a priority and make sure that the rent/mortgage is paid, so keep that same energy for saving x investing. S&S (Savings and Stocks) will pay a big part in the wealth for your future but also future generations to come.
Expensive can hurt expenses. Another key to building wealth is not only S&S, but also peeping your expenses. Many people figure that more money means more problems (Sup Puff, Diddy, Diddy Pop), but what he meant is that you should look at how you are spending when your income increases. The notion of increase income, decrease expenses is real folks.
Get your a plan where you can do both! What do I mean? Pay debt and invest/save. Many people tell you to do one before the other, but you also miss out on some great ways to compound earnings. As you pay down debt, snowball (What up Dave Ramsey!) funnel yo funds to pay down additional debt/ saving/invest. Take a portion of that new found money and align it to scale your wealth quicker!
Resources and Action Steps. Towards the end of the presentation, I did like your Boo did and slide some resources and action steps for people to act on. Please don’t think that you have to make major waves to see major process. Even when the tide is low doesn’t mean that it isn’t moving. Itch by itch, beloved. Some movement is better than none at all.
Life is about finding balance between: Designer x Dividends and Expenses x Expensive. If you have any questions about the resources or insight that I gave during my presentation, reach out to me in the contact form!