In our first course of SkimmU Money, founder of The Fiscal Femme, Ashley Feinstein Gerstley, explains how to get your mindset right for your investing journey. Then, Fidelity’s Kelly Lannan joined for a panel discussion and audience Q&A. Mind on your money, money on your mind.
Key takeaways:
How does my money personality impact how I invest?
Think of your money personality like your financial Enneagram. You might be a super saver or a savvy shopper. Or maybe a future funder. (Or a combination.) Your money mindset might be influencing how much and where you’re investing. And understanding your financial habits can help you make better decisions with your money that align with your goals.
What should I prioritize when creating an investment strategy?
First up: Get to know your financial goals. Want an early retirement? A home? A big family? Write it down. Figure out the “how much” and “when” for each of these and put them into an investment calculator. And start sooner rather than later. Because you could be missing out on thousands — maybe millions — of dollars over the course of your life.
I feel ready to invest. What can I do before saying ‘hi’ to the stock market?
There are a few things to consider before diving into your first investment. Think: identifying your money personality, building up a rainy day fund, paying off credit card debt, and more. And you may want to enlist a close friend (aka “money buddy”) to hold you accountable.
More from this series
Course 2: Building Your Portfolio
Farnoosh Torabi, Financial Expert and Editor at Large of CNET Money, joins us for our second SkimmU Money course. We dive into how to start building a strong (read: diversified) portfolio. Then, Fidelity’s Leanna Devinney joined for a panel discussion and audience Q&A. Runnin’ up that (money) hill.
Course 3: Investing for Later(ish)
Investing isn’t only about playing the long game. In our third SkimmU Money course Bola Sokunbi, Founder and CEO of Clever Girl Finance, told us all about investing for our short-term goals. Then, Girl$ on the Money’s Mabel Nuñez joined for a panel discussion and audience Q&A.
Course 4: Feeling Crypto FOMO?
Maggie Love, Founder of SheFi, made investing in crypto a little less cryptic in our final SkimmU Money course. Then, Guidefi’s Charlene Fadirepo joined for a panel discussion and audience Q&A. We’re cashin’ out.
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