Building Wealth on a Dime

Your personal roadmap to financial freedom through small but mighty changes to your money

In a world where you have questions about money and Google has a million different answers, it can be hard to know how to make the most of what you have...

Especially if you don't have a ton of it.

In Building Wealth on a Dime: Finding Your Financial Freedom, financial educator and Latina Kimberly Hamilton delivers an engaging guide for building wealth through small but powerful changes to your money - even if you're starting small. As a former student debt warrior turned homeowner, Kimberly knows this experience first-hand, but this book isn't about her. Through the financial lives of everyday moneymakers like Claire in New York, Tanya in Chicago, and Eric in Portland, Kimberly teaches you how to take control of your finances, eliminate debt, and invest for your financial future. Written in a tone that sounds more like a friend than financial advice, you'll gain the tools you need - psychological and financial - to change your mindset and achieve your own financial freedom.

In Building Wealth on a Dime, you'll discover how to shift your financial trajectory "on a dime" and gain confidence in your money ASAP. You'll also find:

• Efficient techniques for eliminating debt
• How to calculate and implement a guilt-free weekly spending cap
• A complete breakdown on investing for beginners, including the different types of accounts, investments, and methods you need to be strategic
• Completely legal (but rarely talked about) tax loopholes that can save you thousands

• What you need to consider when buying your first home or real estate investment
  A can't-miss handbook for the everyday money maker, working professional, or soon-to-graduate, Building Wealth on a Dime belongs on the bookshelves of anyone seeking to improve their relationship with money and accelerate their journey to financial freedom.

  Autorentext

  KIMBERLY HAMILTON is the Founder of Beworth Finance where she helps women and millennials make smart money moves. As a Certified Financial Education Instructor, Kimberly's advice has been featured in major publications such as Forbes, Business Insider, and Health magazine, among others. To learn more, you can follow her on social media @BeworthFinance.

  Inhalt

  Preface

  1 Million Dollar Habits 1

  No. 1: Start Small, Dream Big 3

  No. 2: Don't Compare Yourself to Others 5

  No. 3: Automate and Stay Consistent 5

  No. 4: Start with Day 1 6

  No. 5: Keep It Real 7

  No. 6: Invest Early and Often 9

  Summary 12

  Notes 13

  Worksheet: Million Dollar Habits 14

  2 Plans Change - So Can Your Money 15

  The Story No One Told You 17

  The Real Reasons Money Feels Tight 18

  A New Plan for Your Money 26

  Summary 29

  Notes 29

  3 Money Mindset and Your Emotions 31

  Emotions and Your Money 34

  Step 1: Identify Your Money Mindset 35

  Step 2: Tackle Your Emotional Spending 41

  Step 3: Take Action 46

  Summary 47

  Notes 48

  Worksheet: Shift Your Money Mindset 49

  4 Flip the Script on Budgets 51

  What a Budget Should Be 53

  Step 1: Get Organized 58

  Step 2: Set Your Money Goals 64

  Step 3: Build Your Budget 73

  Step 4: Automate Your Money 80

  Summary 85

  Worksheet: Build Your Budget 87

  5 Tackle Your Debt 95

  Develop Your Debt Payoff Plan 101

  Find Extra Money to Pay Down Your Debt 114

  Accelerate Your Debt Payoff 120

  For the Student Debt Warriors 124

  Summary 131

  Notes 136

  Worksheet: Debt Payoff 137

  6 Get Your Full Financial Picture 141

  Net Worth 143

  Your Credit Score 144

  Your Liquidity Ratio 146

  Your Debt-to-Income (DTI) Ratio 147

  How Often Should I Check These Numbers? 149

  Summary 151

  Worksheet: Get Your Financial Picture 152

  7 Invest Early and Often 155

  The Magic of Investing: Compound Growth 158

  Tanya's Wealth Journey 163

  How Much Should I Invest? 169

  Update Your Investment Goals 175

  Summary 177

  Notes 178

  8 Investing 101 179

  The Magic of Tax-Advantaged Accounts 181

  The Average Money Maker's Guide to Investments 208

  Summary 220

  Notes 221

  Worksheet: Investing 101 222

  9 Beyond the Basics 225

  Tanya's Next Steps 227

  How to Open a Brokerage Account 232

  For High Income Earners: Consider a Backdoor Roth 240

  Get Penalty-Free Access to Your Investments? Using a Roth Ladder 241

  Tracking Your Investments Across Multiple Accounts 243

  Creating Generational Wealth 243

  Summary 249

  10 Confessions of a First-Time Homebuyer 251

  My Homeownership Journey 253

  Lessons Learned 259

  11 The Rent Versus Buy Debate 267

  Why Buying a House Can Be Difficult 268

  The Pros and Cons of Homeownership 272

  Questions to Ask Yourself Before Buying a Home 274

  Summary 276

  Notes 276

  12 Nine Steps to Homeownership 277

  Real Estate Lingo 278

  Step 1: Find Out How Much You Can Afford 282

  Step 2: Shop Around for Lenders 289

  Step 3: Find Your Home 291

  Step 4: Make a Strong Offer 292

  Step 5: Finalize Your Mortgage 293

  Step 6: Get Your Inspection 294

  Step 7: Get Homeowners Insurance 295

  Step 8: Final Walk-Through 295

  Step 9: Closing Day! 295

  Building Wealth with Real Estate 296

  Summary 302

  Closing 305

  Appendix 309

  Acknowledgments 317

  About the Author 319

  Index 321