#217 Financial Management - The Basics
With 36 million people on unemployment and a world uprooted by a pandemic, Leslie and Leslyn thought this is a good time to talk about organizing your life from a financial perspective. Leslyn spent 20 years as a financial advisor and there are some basic tenets to feeling financially safe. Today, she is bringing some of that knowledge to the table to help you create a sense of comfort with your personal finances.
Leslyn shares her background in financial services, demonstrating how her prior experience led her to the advice she shares in this episode.
They share the statistic from 2016 that 47% of Americans can’t respond to a $400 emergency without borrowing money or selling something. This statistic represents a financial crisis of sorts and ultimately prevents people from getting ahead financially because there is a never ending cycle of ‘catching up’.
Leslyn shares some tips for accumulating money, how to approach a strategy, and offers suggestions for beginning. Ultimately, the first requirement is that we live within our means. They share a basic strategy from one of the richest men in the world - Warren Buffett.
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