Happy New Year!!!
January marks a time when most people become really conscious about self-care, setting goals, losing weight, and managing their money. Some people get so excited about managing their money that they are ready to jump on any bandwagon that will help show them how to make money quick. Well if that is what you’re looking for this information is not for you.
As the owner of Deletra Hudson, LLC financial coaching and consulting firm based in St. Louis Missouri, I get the opportunity to witness much excitement surrounding people who are interested in making money quick as well as lots of it. However what I want to share with you during this time is the best way to make money that last and can help build generational wealth, is to create a plan and be consistent and persistent with the implementation of that plan.
During the month of January I do like to ride that wave of excitement when people are ready to face their money wells and build relationships to help improve their financial position. There are several things that we do to make a fun and exciting time extend beyond January when it comes to teaching people simple ways to manage their money. One of the biggest things that we promote with Deletra Hudson, LLC is the 52-week savings challenge. We promote this challenge because it is our goal to help people establish an emergency fund of at least $1,000 to handle minor unexpected expenses. Our firm is not the only one promoting savings challenges. We have to compete with our every day person who has set a resolution to save money and now they’re trying to pull together their friends to join in on the game. We go beyond the game. It is our objective to help 100 people say $100,000 by December 31 of 2022. We set this goal every year to help our community in the Money Boss Wolf club to no longer be a statistic of the seven out of 10 people who do not have emergency funds.
There are many challenges out there to assist people with saving money. There is the five dollar challenge where you save every five dollars bill that you acquire. There is the Save $2,000 in 100 days Challenge Where are you save a $20 every day for 100 days. There is the save $10,100 in 100 days (there is a form in format to follow to reach that goal but I’m not interested in putting that strain on my financial position so I haven’t researched it to give you much information about it). So it is up to you to make the decision about what challenge or challenges you want to engage within to reach your overall savings goal.
The important thing is to first determine the amount that you plan to save.
Number two determine the target date that you want to achieve this savings goal by. Number three determine the amount that you can actually afford to put aside and save that will prohibit you from dipping into the savings.
Once you have made the assessments by determining these three points, now it is time for you to implement your savings plan. Remember the key to success is to be consistent and persistent with the challenge. If you want more information or a copy of the 52- week Millionaire Savings challenge form that we’re using in the Money Boss Wealth club, send an email to deletra@deletrahudson.com and put in the subject: 52 week challenge. And we will get the information out to you via email.
Wishing you many blessings and much prosperity!