The inauguration of The Clever African was an exciting one. January 2017 marked the beginning of a journey that is far from finished. We have been able to layout the motivation behind this platform, to engage our audience, and to establish the pillars by which our finances can be managed effectively. We will be incorporating some new and exciting content soon, but, it is necessary to reflect on our journey together these past three months.
The theme of the first quarter was to introduce you to a seven-pillar blueprint for managing your finances. This blueprint helps each individual to assess their financial situation as well as to develop an action-based plan moving forward. The blueprint’s seven pillars are foundational principles that are crucial to the establishment and maturity of any individual’s finances.
As you can see from the image above, the seven pillars are as follows:
- Budgeting- Systematically showing you how to allocate your money.
- Expense Management– Expenses cannot be erased, but they must be minimized.
- Savings – Although saving is logical and theoretically sound, human nature is sometimes a great opponent.
- Loans– Mismanaging your debt can place you in a scary and unforgiving situation.
- Investing– Reach long term goals faster by investing.
- Retirement – Retirement is the finish line. Plan ahead to ensure you can cross it!
- Giving Back – Giving back is honorable, the government acknowledges goodwill by granting added tax benefits to contributors!
Financial security can feel like a moving target. The vast majority of Americans are in a continuous state of worry when it comes to their money. For the Clever African, allowing these pillars to become a part of your financial plan will help alleviate some of this anxiety. Continue to be mindful of your finances and let us continue to work together to raise the level of financial literacy in our various communities. Remember, invest in you!
THE CLEVER AFRICAN: INVEST IN YOU
We encourage you to leave comments below on any thoughts relating to this post. If you have personal suggestions or feedback, feel free to send us a message.