Stocks are rallying, but be ready for a correction. I've got some budget freebies for you. I'm answering questions on whether you should invest first or learn to manage your money. Plus more!
How are you? It’s been a great week here!
Chad Gordon was kind enough to send me a copy of his new book, Wealth by Virtue. So far, it’s been a great read. I’ll have a review out as soon as I finish it.
As you know, I want to teach you to be a Money Badass, and one the best first steps to becoming a Money Badass is a budget…
LAST TIME I’M TALKING ABOUT BUDGETING FOR A WHILE…
January is about over. It’s a great time to get a budget created if you don’t already use one. I’ve teamed up with FreebieFindingMom to put together some great FREE Budget resources to help you get started.
I’ve lived without a budget in the past and there really is no way to build wealth and become a Money Badass without one.
You’ll find templates to get you started with any kind of budget. Worksheets, a spreadsheet template, how to guides, and apps are all included!
Grab a free template from the guide and create your budget!
WHAT A STOCK RALLY!
Wow! If you’re investing in the stock market, I’d bet your making money!
A Money Badass needs to invest their money. There is no better place in history to grow your money than the stock market.
Stocks are booming this month! All good stock rally’s come to an end though eventually…
Stocks go up and down in an upward trend. This is normal!
Stocks tend to move in this pattern over history. When stocks rally for a while they are due for a pullback.
Your worst enemy in investing is yourself. Your emotions to be more specific. There are always pullbacks and these are totally normal. It’s a temporary loss.
If you sell during the dip you are making those temporary losses permanent.
Don’t fall for that! History shows that it will recover and continue upward.
THAT BADASS MONEY HANDBOOK BETA TEST
The Handbook is getting close! Part 1 and 2 are now in beta testing and part 3 is being developed.
Here’s a sneak peak of part 3 behind the scenes:
This will be THE guide to help you become a Money Badass by managing your money like a pro!
I can’t wait to get the whole series in your hands! This is really going to help you go from broke to pro with your money!
QUESTION AND ANSWER TIME!
QUESTION: What comes first money management skills or learning about how to invest in the market?
ANSWER: I would definitely say, to be a Money Badass, you need to understand how to manage your money first. (That’s where That Badass Money Handbook comes into play). Here is the order I would take in my financial life:
1 Build a Badass Mindset.
2 Do a Money Discovery.
3 Track Your Money and Net Worth.
4 Create a Badass Budget.
5 Conquer Your Bills.
6 Kill Your Debt.
7 Save Some Money.
Once you’ve accomplished the first steps (1-6), then you can start investing your extra money as in step 7.
I highly recommend investing in the stock market, but I would get my finances in order and pay off any high interest debt you may have first!
See you next week!
DAVE | CREATOR OF LET’S AUTOMATE YOUR MONEY