The third annual Invest Fest was full of money-making and maintaining gems — but there’s always more to learn on the road to financial freedom and success.
In case you missed the three-day financial savvy event — or couldn’t snag tickets — MADAMENOIRE‘s got you covered. We chatted with certified financial planner (CFP), Nicole Carson, who shared five practical tips for building a strong financial future. The money-savvy expert shared tips suitable for any income level. As she explained to MN, the key to investment and wealth planning “lies in understanding your individual goals and available resources.”
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Know Your Numbers — The foundation of building wealth is understanding your financial standing. Building a budget based on your income and expenses will give you a snapshot of how much disposable income you can put toward your financial goals. Also, managing good credit is key to building wealth, as it saves you money in the long-term. Remember — banks and lenders give the best rates to those with the highest credit scores.
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Invest In “Upskilling” — Investing in yourself has tremendous value on your net worth. It gives you deeper knowledge and more opportunities for increased income and employment options. Continuous learning and skill development can provide promotional roles, new employment, or a chance to become a business owner. Consider professional courses, workshops, or mentorship programs to upskill and unlock new opportunities.
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Utilize Your Workplace Benefits — Whether you’re an employee or a business owner, maximizing the benefits available to you is important. For entrepreneurs, optimize your business structure for tax efficiency and explore retirement options. For individual employees, workplace benefits are indirect forms of compensation that can help you increase financial security. Maximizing your employer retirement plan is a great place to start investing in your future. Money placed in a Health…
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