Understanding the Concept of a Sinking Fund What is a Sinking Fund? So, let’s break it down. A sinking fund is essentially a savings strategy where you set aside money for a specific purpose over a period of time. Think of it as a financial cushion for those bigger expenses that can throw a wrench […]
1. Setting Unrealistic Goals Defining Success When I first started my journey with financial goals, I had my sights set on some pretty lofty targets. I’m talking about wanting to retire in my thirties, own multiple properties, and have a yacht by the sea. Spoiler alert: those are ambitions that take time, and setting such […]
Understand Your Current Money Mindset Identify Your Beliefs It all begins with understanding what you believe about money. Take a moment to reflect on your upbringing and the messages you received about finances. Did your parents place value on saving, or were they more about living in the moment? This self-discovery is crucial. Take note […]
Starting a business can be one of the most exhilarating journeys of your life, but it can also be daunting, especially when it comes to funding without diving headfirst into debt. From my own experience, I’ve learned a few tricks along the way that have helped me fund my ventures while keeping my financial boat […]
Assess Your Financial Situation Take a Good Look at Your Expenses I remember the first time I realized my bills were piling up. It felt like a ton of bricks crashing down on me. The first step I took was to sit down and assess all my expenses. I grabbed a pen and paper (yeah, […]
Understand the Importance of Retirement Savings Why Retirement Matters First off, let’s chat about why retirement savings is crucial, especially for us mom business owners. I know it can be easy to get lost in the day-to-day hustle of running a business and raising kids. But… think about it! We work hard; we deserve a […]
Understand Your Current Spending Habits Take a Good Look at Your Finances Alright, let’s get real for a minute! The first step in making room in your budget is to really analyze where the cash is going. I often grab a notebook or open up a budgeting app to start tracking everything. Seriously, write it […]
Understanding Credit Scores What is a Credit Score? As a mom, I know how daunting it can be to understand credit scores. A credit score is a three-digit number that represents your creditworthiness. The higher the score, the better! It basically tells creditors how likely you are to repay any borrowed money. Sounds simple, right? […]
Recognizing the Source of Guilt Understanding Personal and Societal Influences First off, let’s dive into where that pesky guilt comes from. I’ve found that it often stems from societal expectations about spending—especially in the entrepreneurial world. We’re conditioned to think that each dollar spent should come with a significant return. This can lead to anxiety […]
As a mom who’s learning the ropes of entrepreneurship, I can tell you that financial confidence is crucial. It’s not just about having money in the bank—it’s about understanding how to manage it properly, investing in yourself, and feeling empowered in your business decisions. Today, I want to share insights about five major areas that […]