GENERATIONAL WEALTH 2.0

Modern ways to build, create, and maintain lasting generational wealth – for all.

Generational wealth, growing finances, and good money habits are essential and go hand and hand. Money is a tool that helps with accomplishing life goals, investing in yourself and future generations. I was taught one basic rule – pay your bills on time and then some. Paying down both principal and interest balances is beneficial to avoiding recurring debt from high-interest rates which in turn positively impacts credit scores. As I got older I began to learn more about how money works, how to be responsible with it, and the importance of being prepared for life’s uncertainties. This is my perspective on ways to create and preserve Generational Wealth.

Becoming good with money doesn’t require you to be rich but in return can make you rich in both wealth and legacy. I grew up in a single-mother household. My mother took good care of my siblings and me, even when funds were tight. From a young age, my mother empowered us with life–lessons; from household repairs to simple hair care. My mother provided me the opportunity of a college education by paying my out-of-pocket tuition each semester. Teaching me the valuable lesson of monetary prioritization and investing in the next generation. Strong women build up and lead young women.

Creating generational wealth in non-traditional ways doesn’t come easy – it requires discipline, thinking outside of the box, and understanding your family’s needs. What do you want to leave behind? Wealth? Legacy? Both are equally important and within reach. We must begin now with learning and then teaching healthy money habits. Creating lasting stability for the ones you love and yourself. I say this to give you an idea of where to begin planning. I believe these are the basics of financial wellness.

C O R E V A L U E S

Self–worth, respect, compassion, mindfulness, gratitude, and honesty. Instilled core values assist in navigating through life with integrity and courage. Each person/family has their own set of core values. You chose and tailor your own, deciding what feels right.

H E A L T H Y L I V I N G

Cook dinner as a family! My mother and I made it a team effort and it was so much fun. Picking the spices and getting the first taste of each dish was my reward. Practice sitting around the dining table. It's been proven to bring families closer together. Make veggies a requirement with each meal. Learn and teach healthy habits starting at home then pass down from generation to generation. Normalize healthy living in all aspects of life whether it be diet, financially, and mentally.

B U D G E T

Each month I write out a budget. I use my money journal to map out my expenses for the month: bills/ subscriptions/retirement planning/work expenses. Setting goals requires willpower and sticking to what was mapped out for the month. I know emergencies come up but you're already covered because you have an emergency fund written in that budget. Budgeting helps me keep my eye on the prize without reckless spending.

B U I L D I N G E Q U I T Y

Homeownership, business investments, and commercial real estate are traditional ways of building equity. You can also inquire items of value such as gold, silver, stocks, and pieces of art. These items appreciate and grow in monetary value over time."Put some respeck on my check or pay me in equity watch me reverse out the debt." (Beyonce, Apeshit, 2018). All notes, taken.

C R E D I T S C O R E S

Keep an eye on all your credit scores. The three main bureaus are Experian, Equifax, and TransUnion. You also have a FICO score which is just as important. Credit Karma is a free app that is a great starting point to view your credit scores and what's being reported monthly.

H I G H Y I E L D S A V I N G S A C C O U N T S

I refer to these accounts as my safety net and wealth builder. With no minimum balance required and better returns than average savings accounts – high yield savings rates reached up to 2% in 2020. Open an online savings account for the little ones in your life. Instead of an overpriced birthday gift add a few bucks to their account – investing in future generations never comes too early.

C O U P O N I N G

My Target debit card comes in handy when I need a soy chai latte, toothpaste, and laundry detergent. I save 5% on each purchase on top of cartwheel deals (via Target mobile app). Some retailers have clip-less coupons that don't require going through the newspaper to find, they are automatically applied to the merchant's discount card. Being frugal doesn't mean cheap. Saving a penny wherever you can is smart.

B A R T E R S Y S T E M

Bartering is a practice that has been happening for many years. We learned this system at an early age at lunch tables, classmates exchanged snacks and sandwiches as fair trade. Some of my photography work is done through the barter system. I take website photos for a yoga instructor in exchange I get a couple of yoga classes. This system elevates everyone from creatives, local food stands, to small businesses.

E A C H O N E / T E A C H O N E

An African proverb that originated in the United States during slavery when African-Americans were denied an education. When someone learned to read and write, it became their responsibility to teach someone else. The idea is to spread knowledge for the betterment of the community (University of Arizona). This logic can be applied to any skill or trade that can be passed down.

S A V E T H E P L A N E T

Please don't litter. Remember to recycle. Heal the world. By doing your part, we can maintain a happy and healthy planet. Global warming is real and needs to be taken seriously. Every little bit counts! Even as simple as turning off the faucet when brushing your teeth. Mother Nature, sea creatures, and future generations will be thankful.

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F A M I L Y M A T T E R S

Teaching unique worldly skills to our family members is worthwhile and another form of generational inheritance. Leading our families and communities with the proper tools and mindset to navigate this world is powerful. An Uncle of mine was known to speak the fire out of people, somewhat of a southern ‘tradition’. I heard a story of him being called to a hospital to heal a burn victim. It did take some time for the victim to recover however with my Uncle’s aid the healing process only took a matter of weeks. The gift was passed down to his daughter to keep the generational gift alive.

Sharing your family's medical history is very important to overall well-being. Understanding how to take care of your body and mind when odd symptoms arise can help point you in the right direction. Simply talking with my Mother I learned my disposition for high blood pressure and anxiety. Therefore, I’m able to find ways to cope with my anxiety and watch my diet to reduce my chances of developing high blood pressure. Daily walks with my dog keep my weight in check. I practice yoga and mediation to manage my anxiety and stress. When we know better, we do better.

Lean on family in the time of need – we never know what someone is going through behind the scenes. Especially, after a death or illness. Creating a haven for immediate and extended family to have someplace to talk and access resources could help someone get on their feet. Remember the song “We all need somebody to lean on” (Bill Withers, '72) this statement is often underrated. At times we get lost within our wants – when we have family in need of food, clothing, and shelter. It is truly a blessing to have the essentials. So, share the wealth whenever you can.

We must take care of older relatives when health and disabling hardships. As a family, it’s our responsibility to assist those in need – weekly grocery shopping, scheduling appointments, even a nightly check-in with a simple phone call can help with loneliness. Growing older shouldn’t be a painful or dreadful journey. The circle of life is a part of all of us – paying it forward is a lesson to be taught, learned, and repeated.

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Lastly, put your goodness in this world. The knowledge you acquire and personal uniqueness is valuable to all. Volunteering, donating time to a local charity, and as simple as holding the door open for someone are examples of passing on good energy. GVIX highlights topics that are inspirational, motivational, and push positive thinking. Assisting my community with the tools we all need to thrive and prosper – first starting within ourselves. Becoming the best versions of ourselves; the person that our parents worked hard for and dreamed of. Show up for yourself and those that mean the most to you, for they carry on our legacies. Let it come full circle.

Thank you for being here. I hope this peace serves and finds you well. Happy Spring x