4 Themes from the Wealth Building Workshop Panel Recap
Last night, I spoke on a panel in real life at one of my favorite female-owned businesses, Talea Beer in Cobble Hill. Three of my good friends were in the audience to support me, including one male ally!
Not only did I have the opportunity to share more about my experience diversifying income streams, challenging assumptions of how to live a successful life and more - but I also learned a ton of great info from my fellow panelists and moderator. Here are 4 themes I took away from it (please note, this includes meaningful insights from the other panelists in addition to my thoughts - quite often I found all 4 of us agreeing while sharing our unique experiences!)
Increase your financial literacy in small, meaningful ways
Learn what you can with the resources available to you like books, attending events like the one last night, online webinars podcasts and other media. Of course - be careful about where you find your info and who to trust [I’m looking at you TikTok crypto bros]. I often share articles with my coaching clients from reputable websites like: NerdWallet, Experian, Schwab, Fidelity and The Points Guy to name a few.
Don’t be afraid to ask
The worst that someone can say is no or not right now. Waiting around for something to fall into your lap isn’t likely and you should always be building your network.
I’ve asked people if they are in need of a cat sitter, looking for financial coaching, and more. I try not to come off sales-y, it’s just not my vibe - and if they say no I back off. If they say yes, it paid off!
Listen to your wants and needs, not what society is telling you
We are influenced by everything: social media, friends, family members, the list goes on! What do YOU value? For me, I spend way too much on concerts and I know that about myself. That said, I decrease my spending on other parts of life like physical items - clothes, shoes and bags. For others it might be the opposite and that is okay. Don’t let anyone shame you about what you spend money on - it just cannot be everything unless you have an awesome income or trust fund.
Create your goals and make sure they are your goals, not someone else’s
Similarly, you need to set YOUR goals. You might want to buy a house, have a huge wedding and go back to get a graduate degree - all three of those may not be realistic at the same time. However - which one is most important to you? Then, how can you get there? Would taking a higher paying job or adding a side hustle to save up for these dreams make you happier? Or would you prefer working less and possibly renting instead of owning for the foreseeable future?
Thank you to Olivia O’ Sullivan for hosting and moderating this panel. It was great to reconnect with Kathy Entwistle, our professional paths crossed back at UBS. Plus, I got to meet Kate Russell & Kristina Tubera. I learned a lot from them on angel investing and building out an influencer following.
Want to learn more from me?
Have more questions? Book a free 20 minute introductory call with Lauren here.
Disclaimer: I am not a financial advisor. My suggestions are simply suggestions and not financial advice. You should always consider your personal financial situation and what works best for you prior to making financial decisions because personal finance is… well… personal.
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