Building Wealth on a Dime

Your personal roadmap to financial freedom through small but mighty changes to your moneyIn 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 investmentA 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 ix 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