One thing that can hold us back from tackling our next chapter in life is financial stress. Student loan debt, mortgage payments, utility bills – costs are adding up and by the looks of it, they aren’t going to stop. How do we become smart with our money and achieve financial freedom?
Lynnette Khalfani-Cox, The Money Coach, has the answers to that question. Throughout her stellar career, Lynnette has worked at the Wall Street Journal, CNBC, and Dow Jones covering all things personal finance and business related. She is also the author of 15+ books, including The New York Times bestselling title, Zero Debt: The Ultimate Guide to Financial Freedom.
She joined me to discuss how to quickly pay off debt, invest wisely in our future, and financially plan for the next stages of our life. Especially because I turned 50 this past year, it has been a time of reflection for me, and inevitably, finances came to mind. So I sat down with Lynnette to pick her brain and get some incredible tips.
This is a particularly vital time to hear from Lynnette because of the disparaging effect the pandemic had on the number of women in the workforce. Many had to leave their jobs because of increased childcare, in some cases suddenly having to take on the role of homeschool teacher. Also, many of the women-dominated industries like hospitality and retail were hit especially hard by the shutdowns.
The biggest lesson she teaches is to not be afraid to ask for help. She describes all of the tools and benefits you can take advantage of if you just reach out. This means tapping into employer benefits, and city and state benefits – most importantly, it means not being too proud to say you need assistance. There is nothing to be ashamed of, everybody, including myself (and Lynnette!), have been there….the most daunting, but most important first step is just to ask.
What you'll learn:
- Three main things to do if you lose your job or find your income being reduced.
- How should you approach bitcoin investment?
- What the big advantage is of starting a new chapter in your midlife prime.