Mary Drennen is #goodwithmoney

Mary Drennen is #goodwithmoney

The Wealth Edit has kicked off its Good with Money Challenge, where, from June 1 to August 15, participants will aim to save $5,000 – and learn useful savings tips in the process. Throughout these 75 days, we’re featuring women who are #goodwithmoney – hopefully they’ll inspire you through their tips and tricks to realize that you are also good with money and, like the rest of us, getting better every day.

 I’ve always been one of those that operates my personal finances on intuition. When I got remarried seven years ago, my financial guru husband could never figure out why or how I operated this way. It just worked for me. What I mean by intuition is this: I was always keenly aware of what I was bringing in and what was going out. I never spent more than I had, and I was very, very on top of my personal finances – not on a dollars and cents basis or keeping a tight spreadsheet, but just based off my...

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Carrie Teardo is #goodwithmoney

 

The Wealth Edit has kicked off its Good with Money Challenge, where, from June 1 to August 15, participants will aim to save $5,000 – and learn useful savings tips in the process. Throughout these 75 days, we’re featuring women who are #goodwithmoney – hopefully they’ll inspire you through their tips and tricks to realize that you are also good with money and, like the rest of us, getting better every day.

 

 

I think being good with money is all about priorities. Focusing more attention on your money can only benefit you in the long term. This summer I’ve loved tending a vegetable garden – my first real vegetable garden. I find myself wandering around it four or five times a day. I drink my morning coffee in the garden now, looking for the next baby zucchini or tomato or cucumber to show up. I’m aware of any weeds that show their face, and I pick off any pests that might try to make a home where they don’t belong....

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The Comeback Theory

Helping women create a financial system to rebuild confidence and focus in the midst of loss or life changing events.  

As women, we are constantly evolving. We change, and the circumstances around us change. With many changes comes the need to shift course. Here at The Wealth Edit, we call this “pivoting”. A pivot can be changing course because of a loss, such as with death or divorce, or simply because we want to make a change in our lives. Do you have to go back to work after a divorce? Change jobs because of a toxic environment? Head back to work after your kids leave for college? Each of these are common pivots, we women, often face. Even though we are surrounded by change, it can often cause anxiety and uncertainty. You question your ability to take the leap out of your comfort zone. 

How do finances play a role in your ability to make a pivot? The Comeback Theory is a course we created designed to walk you through the process of a...

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Top ten money books for moms and kids

 

BLUF (Bottom Line Up Front): Link here to find our top picks.

There are ten books that we think would be worth a fun read or gift if you are interested in speaking with your kids about money. My oldest daughter was texting with a friend and they said "who is going to teach me to buy a house?" "Why are we learning about sedimentary rock?" This is a great question and it is up to us moms to teach our kids this information. Thankfully we have some great resources. Of course, we believe the best resource is for you to join The Wealth Edit!

Here is our top ten moms (click images if you want to read more)! 

1. Your Money or Your Life. Don't read this unless you are ready to change the way you think about money. It is THE resource for formative change as you relate to your money. We put it first because we feel it is the most important. We actually walk our members through this book a few times a year. 

 2. Bitcoin for Kids. This book intrigues us because...

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How Do I Catalog My Expenses?

 

Lauren Pearson, Co-Founder of The Wealth Edit answers the common question on how to build wealth: How Do I Catalog My Expenses?

Download one of our worksheets, the Burn Rate Calculator, for free on our home page! 

 Or, if you are already a member, find it here: https://the-wealth-edit.mn.co/posts/burn-rate-calculator

 

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Announcing the Pivot Fund

Announcing The Pivot Fund

The Pivot Fund is for visionaries. Whether you’re currently in business or preparing to launch, it’s likely you’ve put your plans on hold because of COVID-19 and the pending recession. Here’s where we come in. We are granting $25,000 to help you continue forward with your growth goals. Now is not the time to stop, but rather to pivot and grow to a bigger, better future for yourself and your business.

During the last recession a majority of female small business owners reacted to the recession by focusing on controlling costs rather than increasing sales. Four years later their businesses were generating less revenue and they had a smaller workforce. We want to change this.This is a group of amazing female business owners and private donors who are committed to changing the dialogue. 

The Pivot Fund is seeded by:

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Wealth Edit Wednesday Snippet with Liz Frazier

 

This is a snippet from one of our Wealth Edit Wednesday calls with our friend Liz Frazier, CFP and author of Beyond Piggy Banks and Lemonade Stands. 

Here are her thoughts on Save, Share, Spend, which we love, because we feel like it gives The Wealth Edit members a different view on how to talk to your kids about being generous. 

 

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How and where to give now

Given the recent downturn in our economy, I have many of our members asking how and where to give. Before we launch into different strategies, here are some immediate needs: 

1) Blood donation. I know at our research hospital there is a blood shortage, and they are asking for donors. This is a great way to give of what you have without opening your pocketbook. There are probably local donor banks, but a good place to start is the American Red Cross

2) Local Agencies. Many community foundations and United Way agencies have setup response funds to meet the needs of local communities. We don’t know the ins and outs of all our communities that are represented by our membership, but a great way to cross reference a particular charity is to search Charity Navigator. They have put together a list of national agencies and projects, but you can also search your local United Way or community foundation. You can also look at Charity Watch.

This is...

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Financial Minimalism Intro

When you are thinking about decluttering, often we first thing of our clothes, or a particular closet or junk drawer. Sometimes the most cluttered area of our life is our finances, but since we technically don’t have to look at them every day like our closet, we avoid.

Minimalism in our financial life doesn’t produce the instant gratification that we have come to love in our hectic lives.  

Minimalism does not necessarily mean less spending, it just means focusing your habits on things that are actually meaningful to you. We aren’t here to tell you your subscriptions online aren’t important to you, or you wanting to upgrade your house is wrong, because, in and of themselves these things are harmless. It is the accumulation of these things that is problematic, and won’t give you the feelings you seek from these purchases or upgrades.  

I have a friend named Lindsey, and she is the best at keeping mental margin in her life for...

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