Your Job is NOT Your Wealth

New article from the Money Matters series on BlackVoiceNews.com:

I’ve run across many people that seem to think that having a job is the best way to create financial stability. I’m aware that it’s a common idea, but it always floors me when I hear it. Owning a business and having passive income are much better ways to create financial stability for you, your family, and your community.

Let’s look at the idea that your job is a stable source of income. Ha! Your job is not as stable as you might think. We all know people that have been laid off for no reason other than it was best for the company’s bottom line. You will be hired or fired based on the needs of the company. Your employment, from the business’ perspective, has nothing to do with your needs.

What about the idea that having a job brings in “good” money? A job provides x amount of money for y amount of time. Usually you’re trading your time for a specific amount of money without understanding the affect our specific work has on the company’s overall bottom line. Businesses are in business to make money, so it makes sense that whatever amount you are being paid is obviously much less than that work is actually valued at.

A job is a critical piece for most people, but not because of the reasons that most people think. A job provides

…. click here to read the whole article.

Click here to check out all the articles from Shay on BlackVoiceNews.com.

Money Matters is a Best Seller on Kindle!

Whoo hoo!

Yea! The most dynamic financial education speaker’s first book has become an Amazon Best Seller on Kindle! It was in the #7 position before it settled into the #19 position. The workbook is available on Kindle for only $0.99! Hurry, download your copy now.

Click here to purchase your copy.

Books on Kindle

You’re wishes have been answered! Now, all three of Shay’s amazing personal finance books are available for Kindle.

All My Mistakes: Money lessons for emancipating youth on Kindle

All My Mistakes: Money lessons for emancipating youth in print

Click here to read about why Shay wrote this book.

In this autobiographical personal finance book for emancipating foster kids, the most dynamic financial education speaker working today, Shay Olivarria, shares money lessons that she learned during her life while experiencing the physical, emotional, and sexual abuse that led to her being placed in foster care.

Everything from finding an apartment and getting the utilities turned on to paying for college and saving for retirement are covered. Resources for emancipating youth shared from organizations across the country are also included.

This edition includes a bonus chapter on resumes, interviewing, and career advice.

10 Things College Students Need to Know About Money on Kindle

10 Things College Students Need to Know About Money in print

This simple book provides clarity in understanding the 10 things every college student needs to know about money, including money attitude, compound interest, credit unions, retirement accounts, credit, the CARD Act and net worth, with humor and brevity. A glossary of common personal finance terms is included.

Money Matters: The Get It Done in 1 Minute Workbook on Kindle

Money Matters: The Get It Done in 1 Minute Workbook in print

Finally, a workbook that makes money management simple! This easy-to-read workbook from personal financial literacy coach and professional speaker Shay Olivarria explains topics such as savings, goal setting, credit reports, credit scoring, net worth and retirement vehicles for the everyday person. As the old saying goes, “time is money” and with this workbook you can save quite a bit of both. The enclosed worksheets help you understand your financial situation and provide the necessary guidance to get your finances under control. In these tough times we must be proactive with our own futures and take control of our money; with Money Matters: The Get It Done in 1 Minute Workbook we can do just that.

Read a book review of Money Matters here.

Make Today Your Financial Independence Day

This week’s personal finance column at Black Voice News gives steps to become wealthy:

With so many people celebrating our country’s Independence Day, it seems only appropriate that we should take a moment to consider how to create personal, financial independence. There are five simple steps that can help you create, and manage, generational wealth. Remember, it’s not how much you bring in that determines your net worth. How to use your money is what separates the wealthy from the mediocre.

Step 1: Know your net worth
have to know where you stand financially if you want to grow. Take a moment to make a list of all your assets (things that you own) and subtract all your liabilities (debt you owe) to find your net worth. My first book Money Matters: The Get It Done in 1 Minute Workbook ($12) has a really simple worksheet to help you understand where you’re starting from.

Step 2: Create a spending plan
Once you understand what you have (assets), what you owe (liabilities), and what your financial value is you can start to plan where and how you spend your money. Most of us waste more money than we realize on small purchases. We have to find opportunities to make small changes that make a big difference. For example, once you notice that you spend $20 a month on sodas at work (that’s $240 a year) you can choose to bring sodas from home or better yet start drinking water and start investing the money you were wasting.

Step 3: Invest and plan for generational wealth
Now that you’ve found a few places where you can save a few dollars, you’re going to start investing that money for your retirement with the goal of leaving an inheritance for your loved ones. Differences between retirement accounts are explained in my book 10 Things College Students Need to Know About Money ($15). If you’re wondering why planning to leave generational wealth to your loved ones is important, download my free eBook “You Shouldn’t Take It With You”.

Step 4: Talk openly
Realizing that your net worth is negative or that you’re spending way too much money on things that are not helping you build wealth …. Click here to read the full article.