Michelle and Gwen each made a list of their top 5 money habits, and in this episode they compare and explain their lists. Included below is only a summary of their lists, please make sure to listen to the full episode to hear the details, explanations, and personal relationships to each habit.
Michelle’s List
5. Always have a plan and budget
4. Set aside money for taxes
3. Live on less than you make
2. Have multiple streams of income
1. Pay yourself first
Gwen’s List
5. Support local, especially black owned businesses
4. Get rid of bad debt, and use good debt wisely (i.e. to improve credit or increase revenue)
3. Have multiple income streams, preferably not all tied to time
2. Create a budget that works with yourself and your habits, and track your spending habits
1. Write out your cash flow - every dollar coming in and going out - so you know your financial picture
And too important to put on a regular list:
* Accept your current financial habits without judgement and make the choice to work towards where you want to be.
* Believe in yourself!