Generational wealth is the legacy of assets passed down in families, offering financial security and opportunities to descendants. To build it, one should start saving early, invest wisely in appreciable assets, create multiple income streams, eliminate debt, establish trusts for asset transfer, and impart financial knowledge to family members. Implementing these strategies can secure a family’s financial future over successive generations.
Blog
Strategies for Debt-Free Parenting
Raising children comes with various expenses, and managing these costs while striving for a debt-free lifestyle can be challenging. The 1st step is to establish an emergency fund as it is crucial for a debt-free lifestyle. By setting aside a years’ worth of living expenses, we have been able to avoid taking on debt during…
Guide to Teaching Delayed Gratification Tactics
Teaching children about delayed gratification in finance is crucial for developing good money management habits. By instilling patience, discipline, and the ability to prioritize long-term goals over immediate desires, children can learn the value of saving and making thoughtful financial decisions. Here’s a guide to help parents teach delayed gratification tactics to their children: Explain…
The Emergency Fund is Built, Now What?
The new year has come, the emergency fund is financed – what is next? If you are familiar with the baby steps, we are teetering between step 6 and 7 while simultaneously building the children’s college funds. Step 6 is to pay off the home early and step 7 is to build wealth and give….
A Letter to my First Born: Let Your Light Shine!
Dear Charlotte, You are the first person in the entire universe to know what my heart sounds like from the inside. You continue to grow into a smart and independent spit fire. Your personality is already so great and knows no bounds. I can only dream of what you will do with your future. Mommy…
Our 2nd Debt Free Anniversary!
Success can be measured on many different levels and we finally attained that little bit of success for which we were striving. Our desired aim was to become consumer debt free and we accomplished that goal February of 2018! 2 years later we are still consumer debt free, on the path to pay off our…
Advantages to Banking Online
Are you in the market to take your gazelle intensity in the savings department to a new level? Before you hit the pavement looking for a new traditional local bank branch, consider moving your savings to an online bank! Online savings accounts tend to have the best rates and benefits. Overall, online banks provide an…
APR vs. APY
We all know that an interest rate is important when it comes to loans for mortgages and school, but few people realize it’s just as important for your savings growth. One letter separates the meanings for each – APR or Annual Percentage Rate and APY or Annual Percentage Yield. While they are so close in…
Our Debt Free Journey
Halejuah! We are debt free!! This may seem misleading but to be more specific, We are *Consumer Debt Free!! This means no more vehicle payments, credit card payments, student loan payments….get it? We are free from all debt that is consumable and does not appreciate. It wasn’t as easy get out of this debt as…
How to Budget for Vacation: 4 Tips from a Working Mom.
We live in one of the many places people vacation. Walt Disney World and Universal are 45 minutes away. We have an annual pass to SeaWorld and Busch Gardens. Although we live so close to these theme parks we stick to four rules that help us stay aligned with our debt free journey. Pack your…
Word of the Year: re-Indigenize
Cody and I have been researching our ancestry within the last year. So far we have recorded 9+ generations of ancestors. The earliest, dating back to 1661. That is over 360 years! While it’s exciting to trace whom we descend from, it is even more amazing to have proof of family members who were just…
Unpopular Opinion: Money matters should be part of Pre-Marriage Counseling
As Arese Ugwu, author of The Smart Money Woman, states – “A discussion about the expectation of each person’s responsibility is critical.” We all carry varying biases when it comes to money because of how we were brought up and we often assume our significant other has the same money values. In most cases, especially…
To Know who I am, I Must Know Who I Come From
My intention this year was to be more consistent with this blog. To be honest, I am not sure how these big bloggers do it with a full household of chores, children and all around family activities. I have been lost in the sauce of working full time, being a wife and raising babies. Add…
Raising Char and Luka: Without the Stress of Meeting Milestones.
A new parent can get wrapped up and stressed out constantly lamenting on whether or not a child is meeting certain “milestones.” I used to be that parent. Worried about if my children were getting enough nutrients through nursing or if they are too small for their age group. My biggie – and still is…
Our Plummet into Elimination Communication
I was recently scrolling through my social media, when I came up on a page with a photo holding up a huge stack of reusable diapers. The caption read, “No longer needing these…” I was stunned. Their child was ONE WEEK old! Yes, one week. I was like wait, so I read on to find…