Featuring Jennie James
Don't miss Jennie's illuminating and educational WWisdom Series! This episode is a great resource to forward on to anyone who may be struggling financially during this difficult COVID-19 era, or for anyone looking to reset and refresh their understanding of key best practices of managing personal finances.
REVIEW What Happened to My American Dream? Slides
Key Takeaways
Self-Recognition With help from increased education and a supportive community (like The W Source!), you can make a positive change in your life and your finances. Self-Recognition comes from within you, rather than empowerment, which can imply it takes outside validation of change.
Interest You can prepare for the future, especially by starting small and then building consistently, using the power of compound interest. Young people have an advantage: time is on your side.
Debt The four largest debts in the USA total $19 Trillion!
Car loans - $1 trillion
Credit cards - $1.075 trillion
Student loans - $1.6 trillion
Mortgages - $15.8 trillion
The average household spends 34.5 cents of every dollar to pay interest on their debt. Understand how each type of debt, and your payments, affect your individual situation - and your credit score!
And Lastly...
You're not alone, Jennie has been there! Even as a young girl, she was taught that she didn't need to understand complicated math or financial concepts. In fact a teacher once said, "Don't worry your pretty little head. You won't need math when you're doing your grocery list."