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- Herausgeber: John Wiley & Sons
- Kategorie: Ratgeber
- Sprache: Englisch
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!
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Seitenzahl: 373
Veröffentlichungsjahr: 2024
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Table of Contents
Cover
Table of Contents
Title Page
Copyright
About the Author
Also by Bola Sokunbi
Acknowledgments
Welcome to Your Wealth Plan Workbook!
How to Use This Workbook
Committing to Yourself: The Clever Girl Finance Creed
Workbook Completion Checklist
PART I: Financial Foundations
CHAPTER 1: Your Money Story
Your
Why
CHAPTER 2: Letting Go of Your Money Mistakes
CHAPTER 3: Dream Big: Affirming Yourself to Wealth
CHAPTER 4: Shifting Your Circle of Influence
CHAPTER 5: Getting Your Financial Records in Order
Bank Accounts
Financial Records
Insurance Records
How Long Should I Keep My Records?
CHAPTER 6: Tracking Your Spending
CHAPTER 7: Breaking Up with Your Bad Money Habits
CHAPTER 8: Your Net Worth
How to Calculate Your Net Worth
How to Increase Your Net Worth
CHAPTER 9: Your Core Values
CHAPTER 10: Your Financial (and Life) Goals
Your Short-Term Goals
Your Mid-Term Goals
Your Long-Term Goals
CHAPTER 11: Your Budget
Your Budget Categories
If You Have Children
If You Have Debt
If You Need to Catch Up on Your Retirement Savings
Budgeting Styles
The Percentage Breakdown
The Envelope or Cash System
Reverse Budgeting
Using Apps
Create Your Monthly Budget and Emergency Savings Plan
Emergency Savings Worksheet
CHAPTER 12: Paying Down Your Debt (Credit Cards, Student Loans, etc.)
The Debt Snowball Method
The Debt Avalanche Method
Debt Consolidation
Tips to Pay Down Debt Fast
Tackling Your Student Loans
Explore Scholarships
CHAPTER 13: Your Credit
Checking Your Credit Report
Improving Your Credit Score
Rebuilding or Maintaining Your Credit
Notes
CHAPTER 14: Protecting Yourself (Insurance)
Health Insurance
Auto Insurance
Renter’s Insurance
Homeowner’s Insurance
Insuring Your Home-Based Business or Home Office
Protecting Your Home Against Burglary
Life Insurance
Long-Term Disability Insurance
Personal Article Insurance
Pet Insurance
Note
CHAPTER 15: Asking for More Money
CHAPTER 16: Your Self-Care
Do a Digital Detox
Practice Mindfulness
Get Moving
Eat Well
Stay Connected
Schedule Dedicated “Me Time”
Get Enough Sleep
Seek Support or Guidance if You Need To
Don’t Forget Gratitude
PART II: Investing
CHAPTER 17: Your Investing Mindset
Why Investing Matters
CHAPTER 18: Preparing to Invest
Compounding
Ensuring You Are Prepared to Invest
Setting Your Investment Objectives
Understanding Risk
Mitigating Risk
So, What Type of Investor Are You?
CHAPTER 19: Researching Your Investments
Investing in Stocks
Investing in Bonds
What to Know About Bonds
Should You Buy Individual Stocks and/or Bonds?
Investing in Funds
Index Funds to Win
Benefits of Index Funds
Popular Index Funds
Things to Look for When Researching Investments
Creating an Investing Strategy
Start Researching Your Own Investments
Notes
CHAPTER 20: Making Your Investments
Brokerage Firms and Robo-Advisors
Working with a Financial Advisor
CHAPTER 21: Investing for Retirement
Types of Retirement Investment Accounts
What to Do When You Leave Your Employer
Tips to Maximize Your Retirement Investments
Are You Saving Enough?
Investing During Retirement
Notes
CHAPTER 22: Checking In on Your Investments
How Does Rebalancing Work?
When to Rebalance Your Portfolio
How Often Should You Rebalance Your Portfolio?
Target-Date Funds, Robo-Advisors, and Portfolio Rebalancing
Letting Go of a Losing Investment
PART III: Side Hustles
CHAPTER 23: Preparing for a Side Hustle
Adjusting Your Schedule with Intention
Juggling Your Side Hustle and Your Full-Time Job
Developing the Personal Characteristics You Need for Success
CHAPTER 24: Laying Out Your Business Idea
Examples of Business Ideas and Popular Niches
Establishing Your Business Vision and Mission
Craft Your Business Vision Statement
Craft Your Mission Statement
Keep in Mind
Note
CHAPTER 25: Beginning Your Business Plan
What to Include in Your Business Plan
How to Get Clear on Your Ideal Customer
Defining Your Products and Services
How to Assess Your Competition
Create the First Part of Your Business Plan
CHAPTER 26: Branding and Marketing Your Business
Defining Your Brand
The Name of Your Business
Your Business Logo
Colors and Fonts
Your Brand Story
Crafting Your Brand Story
Your Online Presence and Content Strategy
Establishing Your Online Presence
Creating a Content Strategy
Setting Your Marketing Goals
Marketing Strategies to Achieve Your Goals
CHAPTER 27: Your Business Finances
Estimating Your Startup Expenses
Lay Out Your Startup Costs
Creating a Functional Business Budget
Building Taxes into Your Budget
Breaking Even: Profit and Loss
Performing a Break-Even Analysis
Pricing Your Products and Services
Note
CHAPTER 28: Business Metrics to Track
Financial Metrics
Marketing Metrics
Tools to Track Your Business Metrics
CHAPTER 29: Your Dream Team
Finding the Right Mentors
PART IV: Choosing to Prosper
CHAPTER 30: Making the Intentional Choice to Prosper
CHAPTER 31: Who You Are
CHAPTER 32: Coming of Age
CHAPTER 33: Your Career Journey
CHAPTER 34: Taking Leaps of Faith
CHAPTER 35: Empowering Others Despite the Naysayers
CHAPTER 36: Choosing a Rich Partner
CHAPTER 37: Stepping Outside Your Comfort Zone
CHAPTER 38: Beating Imposter Syndrome
CHAPTER 39: Celebrating Yourself
CHAPTER 40: Intentionally Choosing to Prosper Moving Forward
CHAPTER 41: You Did It!
Index
End User License Agreement
Guide
Cover
Table of Contents
Title Page
Copyright
About the Author
Also by Bola Sokunbi
Acknowledgments
Welcome to Your Wealth Plan Workbook!
How to Use This Workbook
Committing to Yourself: The Clever Girl Finance Creed
Workbook Completion Checklist
Begin Reading
Index
End User License Agreement
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Clever Girl Finance, My Wealth Plan Workbook
Your Personalized Plan to Ditch Debt, Save Money and Build Real Wealth
Bola Sokunbi
Copyright © 2025 by Bola Sokunbi. All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.Published simultaneously in Canada.
No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 750-4470, or on the web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permission.
Trademarks: Wiley and the Wiley logo are trademarks or registered trademarks of John Wiley & Sons, Inc. and/or its affiliates in the United States and other countries and may not be used without written permission. All other trademarks are the property of their respective owners. John Wiley & Sons, Inc. is not associated with any product or vendor mentioned in this book.
Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Further, readers should be aware that websites listed in this work may have changed or disappeared between when this work was written and when it is read. Neither the publisher nor authors shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.
For general information on our other products and services or for technical support, please contact our Customer Care Department within the United States at (800) 762-2974, outside the United States at (317) 572-3993 or fax (317) 572-4002.
Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic formats. For more information about Wiley products, visit our web site at www.wiley.com.
Library of Congress Cataloging-in-Publication Data is Available:
ISBN 9781394266913 (Paperback)ISBN 9781394266920 (epdf)ISBN 9781394266937 (epub)
Cover Design: WileyCover Image: Courtesy of Clever Girl Finance
About the Author
Bola Sokunbi is a Certified Financial Education Instructor (CFEI), investor, finance expert, speaker, podcaster, bestselling author, and the founder and CEO of Clever Girl Finance, one of the largest personal finance media/education platforms for women in the U.S.
She is the recipient of the 2021 Financial Education Instructor of the Year (FEIY) Award from the National Council of Financial Educators (NFEC). Clever Girl Finance has also earned the Distinguished Personal Finance Content (DPFC) designation from the National Financial Educators Council, having proven competency in providing financial education that aligns with industry best practices and research-based education principles.
Based on her experience saving over $100,000 in three and a half years after graduating from college and navigating through various financial mistakes and successes of her own in the years that followed, Bola started Clever Girl Finance in 2015 to provide women with the tools and resources she wished she had when she began her financial journey.
She lives with her husband and twins in New Jersey.
Also by Bola Sokunbi
Clever Girl Finance: Ditch Debt, Save Money, and Build Real Wealth
Learn How Investing Works, Grow Your Money
The Side Hustle Guide: Build a Successful Side Hustle and Increase Your Income
Choosing to Prosper: Triumphing Over Adversity, Breaking Out of Comfort Zones, Achieving Your Life and Money Dreams
Acknowledgments
I’m so glad to have been able to create this amazing workbook, and I couldn’t have done it without the support and love from so many of the wonderful people in my life.
First off, a huge thank-you to my wonderful husband. Your constant support and belief in me have kept me going, even when things got tough. To my beautiful twins, your laughter and love inspire me to be the best version of myself every day.
To my dear sister-friends, thank you for your endless encouragement, late-night chats, and for always being there to cheer me on. You’ve been my sounding board and my biggest cheerleaders.
To my mentors, your wisdom and guidance have been invaluable. You’ve helped me navigate the complexities of the business world and have taught me so much along the way.
To team CGF, thank you for always holding the fort down with every book project, for your insights, and for all your support. There would be no Clever Girl Finance without you.
And to the incredible women in the Clever Girl Finance community – you are all so amazing! Your stories of resilience and determination have inspired me beyond words. The Clever Girl Finance book series and this new workbook draw from the collective wisdom of this fantastic community.
My hope for this workbook is that it becomes a trusted companion on your financial journey, that it inspires you to lay out your financial goals clearly, and that it empowers you to take action toward achieving them. Let this be your stepping-stone to financial independence, wealth building, and creating the life you’ve always dreamed of.
Here’s to your journey to financial greatness!
Welcome to Your Wealth Plan Workbook!
Thank you for picking up your very own wealth plan workbook! I’m so excited to be right here with you as you embark on this transformative journey toward your success, one that will reshape your life in a profound and incredible way.
If you’ve already read the Clever Girl Finance book series, you’ll find that this workbook is the perfect companion to build upon the foundation you’ve already begun creating. If you’re new to Clever Girl Finance and this is the first book you’ve picked up, this is an excellent starting point that contains everything you need to start making your dreams a reality.
Created specifically for women like you, this workbook is a hands-on resource to help you get clear on your financial and life goals and then translate them into actionable steps you can immediately start taking toward your dreams and desires.
Whether you’re just starting your financial journey, are looking to refine your existing strategies, or are starting over (no shame!), you’ll get the tools and guidance you need to create the life you truly desire for yourself and on your own terms – because “Why not you?!”
This workbook is perfect for you if:
You’re tired of feeling overwhelmed or uncertain about your financial situation.
You want to pay off debt, save money, invest to build wealth, and pursue financial independence.
You’re looking for hands-on, practical resources that you can apply directly to your life along with a structured framework to help you streamline managing your money.
You’re eager to advance in your career or business, explore new opportunities, and make strategic decisions about your professional development and life in general.
You’re committed to your personal growth and empowerment and are ready to act and make positive changes in your life.
I’ll be guiding you through a comprehensive set of exercises, checklists, and worksheets that I have crafted based on principles I teach through the Clever Girl Finance platform. These principles have already helped thousands of women and have been compiled here to support you at every stage of this growth journey you’ll be embarking on. We’ll be ditching complexity, and instead you’ll gain clarity and confidence about the steps you need to take to achieve not just your financial goals, but your personal goals as well.
Together we will:
Dive deep into your mindset and beliefs with dedicated exercises to help you reflect on your relationship with money, to identify areas for growth and improvement, and to define your core values.
Organize your financial records, create a realistic budget, develop debt repayment strategies, and outline savings and investment plans tailored to your goals and aspirations.
Create strategies for improving your financial health, excelling in your career, and building or growing your side hustle and pursuing your life goals.
Reflect on your progress and document your journey with dedicated journaling areas that will allow you to celebrate your wins and learn from your challenges, as you chart your course toward your success.
The Clever Girl Finance Workbook is more than just a companion – it’s your roadmap to financial empowerment. With its practical tools, insightful exercises, and actionable guidance, this workbook will empower you to take control of your finances and build the life you envision.
So get ready to embark on a transformative journey towards your financial freedom. It’s time for you to start building wealth, one smart decision at a time!
How to Use This Workbook
This workbook is essentially your personalized plan to achieve your financial goals. To make sure you get the most out of this workbook as you create your wealth plan, here are some key tips:
This workbook is split into four sections. You can dive into any section you like first, but each section is meant to be done in order. So if you start with a particular section, aim to finish all its subsections in sequence.
Set aside dedicated time to work without distractions. This will help you stay focused and committed to your goals.
Before diving into the exercises, take some time to envision your ideal future. Having a vision will motivate and guide you as you work through this workbook. Don’t worry about the specifics as you think through your vision; that’s what this workbook is here to help you detail!
If you feel you already have a section of the workbook covered, or you want to come back to it later, it’s okay to skip ahead. Focus on what’s relevant to you right now.
Be honest and transparent with yourself about your current financial situation, goals, and challenges. Transparency is key to creating a realistic and effective wealth plan, and no one else needs to see this workbook but you.
Don’t just complete the exercises and fill out the worksheets. Commit to taking action and use the plans you create in this workbook as your personal action guide. Be intentional about implementing the plans you create on a consistent basis so you can move closer to achieving your goals.
Review your completed entries regularly to track your progress. Celebrate your wins and identify areas for improvement to stay motivated and on track.
Understand that your financial situation and goals may evolve over time. Be open to adjusting your wealth plan as needed to reflect changes in your life circumstances or priorities. If you change your mind about certain things, that’s okay too.
Finally, use a pencil or an erasable pen so you can make corrections or edits.
Remember, this workbook is a tool to help you take control of your financial future. By following these tips and staying committed to the process, you’ll be well on your way to building wealth and making your dreams of financial freedom a reality.
For additional resources, visit clevergirlfinance.com to check out our completely free personal finance courses and participate in our amazing community. To download printable pdf and Excel versions of worksheets in this workbook, visit clevergirlfinance.com/my-wealth-plan.
Committing to Yourself: The Clever Girl Finance Creed
Before you begin, I invite you to make a personal commitment to this process. By signing and dating the creed below, you are affirming your dedication to taking the necessary actions, embracing any challenges, and staying the course.
Your success starts with this promise to yourself, and your dedication and perseverance will play a crucial role in transforming your financial future!
The Clever Girl Finance Creed
I, _______________________________________________________________, commit to actively engaging with this workbook, implementing the strategies and lessons it provides, and taking the necessary steps to achieve my financial goals. I understand that this journey requires dedication, effort, and persistence, and I am fully committed to seeing it through.
I pledge to:
Consistently allocate time to work through each section of this workbook, understanding that steady progress is key to achieving my financial goals.
Approach this journey with an open mind, eager to learn and apply new financial concepts, strategies, and skills.
Actively implement the advice and steps outlined in this workbook, making tangible changes to my financial habits and behaviors.
Acknowledge that there may be challenges and setbacks along the way, but I will stay committed to my financial journey, using these obstacles as opportunities to learn and grow.
Seek advice or assistance when needed, understanding that collaboration and support can enhance my journey toward financial success.
Recognize and celebrate my achievements, no matter how small, because each step forward is a vital part of my financial transformation.
Signature: ____________________________________________
Workbook Completion Checklist
Use this checklist as a reference and to track your progress through the sections of this workbook:
Check the box next to each section or subsection as you complete them.
◻
Part 1
: Financial Foundations
◻
Your Money Story
◻
Letting Go of Your Money Mistakes
◻
Dream Big: Affirming Yourself to Wealth
◻
Shifting Your Circle of Influence
◻
Getting Your Financial Records in Order
◻
Tracking Your Spending
◻
Breaking Up with Your Bad Money Habits
◻
Your Net Worth
◻
Your Core Values
◻
Your Financial (and Life) Goals
◻
Your Budget
◻
Paying Down Your Debt (Credit Cards, Student Loans, etc.)
◻
Your Credit
◻
Protecting Yourself (Insurance)
◻
Asking for More Money
◻
Your Self-Care
◻
Part 2
: Investing
◻
Your Investing Mindset
◻
Preparing to Invest
◻
Researching Your Investments
◻
Making Your Investments
◻
Investing for Retirement
◻
Checking In on Your Investments
◻
Part 3
: Side Hustles
◻
Preparing for a Side Hustle
◻
Laying Out Your Business Idea
◻
Beginning Your Business Plan
◻
Branding and Marketing Your Business
◻
Your Business Finances
◻
Business Metrics to Track
◻
Your Dream Team
◻
Part 4
: Choosing to Prosper
◻
Making the Intentional Choice to Prosper
◻
Who You Are
◻
Coming of Age
◻
Your Career Journey
◻
Taking Leaps of Faith
◻
Empowering Others Despite the Naysayers
◻
Choosing a Rich Partner
◻
Stepping Outside Your Comfort Zone
◻
Beating Imposter Syndrome
◻
Celebrating Yourself
◻
Intentionally Choosing to Prosper Moving Forward
PART IFinancial Foundations
CHAPTER 1Your 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 more
And so, with that said, your why (or whys) when it comes to money might include:
Creating financial security and stability for you and your family so you don’t have to worry about money
Becoming debt free
Starting your own business to expand your earning potential
Being able to fund travel to create new experiences
Retiring early to enjoy more of life while you are still young and healthy
Building generational wealth for your children and their children
Giving back financially to positively impact the life of others in your family, community, or through charitable endeavors
Now that you know what a why is and why having one is so important, ask yourself, “Why do I want to succeed with my finances?” This will involve you doing some serious reflection and might take some time, but it’s an important step you don’t want to skip.
Your why is personal to you. It’s not about what other people expect you to want, what society’s standards are, or who your Instagram or TikTok feed says you should be. It’s about what truly matters to you and what brings you fulfillment.
It’s important to keep in mind that your why may also change or evolve over time as you navigate different life stages and experiences. This is normal and if it happens to you, it’s okay. Personally, my why has changed several times from when I was single and it was all about me, to when I got married and I added on new joint whys with my husband, to when I became a mother and adjusted some of my whys based on the legacy we want to create for our children.
As human beings, we are constantly growing and evolving, so if you feel a shift in what drives you and gives you fulfillment, adjust your why accordingly.
Your why will also tie into establishing your core values, which we’ll delve into in more detail a little later.
As you go on this journey to financial wellness, it’s inevitable that you will face challenges and setbacks. However, regardless of what challenges or setbacks you may face, making up your mind that “you can” and establishing your why is the foundation of what will keep you motivated to put in the effort.
You’ll have to come up with ideas to make things work. You’ll have to do things that might not necessarily be ideal. You may make mistakes along the way. But as long as you lean on your ability, are aware of your why, and are not afraid to fail, and as long as you understand that within every failure is a lesson that can propel you forward, you can do whatever you put your mind to.
But first you have to want your financial success, however you choose to define it, badly enough. Now, let’s define your why.
What it is you want to accomplish with your finances and other aspects of your life?
Why do you want to accomplish it? What is your why? (Remember, you can have multiple whys.)
Make a copy of your why (or whys) from this workbook and put it somewhere you’ll see it every day as a constant reminder of why you need to succeed. Be sure to carve out time to reflect on your why periodically.
CHAPTER 2Letting Go of Your Money Mistakes
Like me, you’ve probably made a few or (*cough*) several money mistakes. But now you’re here, and you’ve made the decision that you can be financially successful, and the good news is that you can! That said, you are going to have to work on developing your mindset to keep it in top shape, just like you would any other muscle in your body, and part of that work is letting go of your money mistakes.
So here are three steps you can take right now to help you let go of your money mistakes, so you can start making real progress toward your goals.
Acknowledge your mistakes and forgive yourself.
To get ahead, you are going to have to forgive yourself for your money mistakes, take the lessons you’ve learned, and keep it moving.
Yes, mistakes happen. Everyone has made bad decisions around their money – even the world’s wealthiest people. I can guarantee that any well-known wealthy person you can think of has made at least one major mistake with their money at some point on their financial journey. Mistakes are part of the learning process in life, and they provide you with an opportunity to grow.
So acknowledge where you went wrong, take ownership, figure out what to do to make things right (on your own or with the right support), and end the self-judgment. It’s time to move forward and let go of any resentment or guilt you are feeling. The pity party is over.
Even if you wind up making the same or similar mistakes again (mistakes are inevitable), give yourself grace. Your approach should be to rinse and repeat the process of acknowledging the mistake, learning how to improve, and implementing the lessons until you get past your error.
Decide it’s time to take action toward change.
Next, you have to be willing to change and be committed to seizing the moment to start working on revamping your finances, right now. No more waiting for perfect – the perfect job, the perfect city, the perfect relationship. Just start.
This means creating a plan to address any consequences or setbacks because of your past mistakes and setting clear and achievable goals.
This also means that if you can only save $5 a week right now, save that $5. It means that if you can only put $10 toward your debt this week, make that $10 payment until you get to the point where you are able to ramp it up. It’s less about the amount and more about the consistent action.
Get motivated.
When you start working on your financial goals, there will be a period of euphoria. You’ll get that fresh sense of excitement that comes with new goals. However, as you go through the motions of accomplishing your goals and as time goes by, you are going to need continuous motivation to help you stay focused. That’s what will keep you going when it comes to the things you want to achieve in your life, and you have to be mindful of where you seek it.
Some ways to stay motivated include finding an accountability partner, reading books, working on this workbook, listening to podcasts, or watching videos that keep you excited as you make progress on your financial goals.
That said, it’s time to work through your past mistakes, take the lessons, and bid them bye-bye!
Make a list of every money mistake you’ve made that you can think of and write out the lessons you can take away from each mistake.
Money mistakes
Lessons learned
Now, take a deep breath, forgive yourself, and let it go.
Repeat after me:
I forgive myself for my money mistakes
.
I accept the lessons
.
I let that ish go
.
Scream it out loud if necessary – it works wonders, I promise!
Now it’s time to make a list of ways you can stay motivated, books you can read, podcasts you can listen to, video series you can watch, and people you can connect with.
Set a timeframe to start working through this list.
Motivation list (To do, to read, to listen to, to watch, to connect with)
Specific dates to take action by (Set a reminder on your calendar)
CHAPTER 3Dream Big: Affirming Yourself to Wealth
Personally, I’m a huge fan of affirmations. They help me get my head in the game and they serve as reminders of my why. I use affirmations in my day-to-day life around my financial goals, my business goals, my fitness goals, and other life goals I want to accomplish. They provide emotional support and encouragement as I make progress, and they are essentially another form of motivation for me.
But what exactly is an affirmation? Well, to put it simply, an affirmation is declaring something to be true. When you declare or affirm something, you are in conscious control of your thoughts because you get to really focus on what you are saying. Whenever you say an affirmation, you think it and see it in your mind. Creating short, powerful affirmations for your finances will turn your “I can’t” into “I can,” and help you get past your fears and translate your dreams into your reality.
Becoming very clear on your goals and your dreams will help you achieve them, but there’s a downside. You see, as you start to get more specific about your dreams, your limiting beliefs will set in. Thoughts like “I will never be able to achieve this,” or “Why am I wasting my time? This will never happen,” or “Girl, who? You? Please,” will start to run through your mind on repeat. You’ll need to train your mind to get rid of those thoughts whenever they come up and replace them with empowering ones. This is where affirmations come in. Positive affirmations build the mental muscles that can be incredibly powerful for achieving goals and making your dreams a reality.
As you create affirmations to support bringing your dreams to reality, it’s important to keep the following in mind:
Your affirmations should be short and concise.
They should be about your life and should be personal.
They should be in the present tense.
They should be positive.
You should not compare yourself to anyone else when you create your affirmations.
Here are some examples of affirmations:
Money is attracted to my bank account every single day.
I am credit card debt free.
I make good money decisions and invest wisely.
Once you create these affirmations, you want to refer to them often, so keep them visible and accessible. Save them as your phone screen saver, print them out and tape them to your bathroom mirror, put them on your fridge. The more you affirm, the more you believe you can, so the more you will!
Write down everything you want to accomplish in your life that’s currently a big dream. Be very specific about what the dream is, down to the minute details. You should be able to tie each of these dreams to your financial goals.
Next, using the example affirmations I provided in this section, write down your own list of affirmations that you can repeat to yourself daily. Feel free to include your affirmations as part of your daily meditations or prayers. Think them, say them, believe them, receive them.
