I decided that 2018 would be a year of abundance and prosperity for my family and business! You know I’ve shared that I don’t own a credit card, which comes with more planning and goal setting to ensure my business keeps growing and my family and staff are taken care of.
Anyone who owns a business knows that keeping finances above board and meeting targets is an essential component of ensuring that the business is thriving. For this, they might even go to an extent of leveraging technology and modern software applications (refer here for more information). The basic point is to conquer complexity and lead the organization at a speed where data is converted into actionable insights. For example, people who are in the cannabis business, which has grown a lot over the years, will need to take a look at their dispensary profit margin just like other businesses do, to ensure that profits are always at the best level.
In the past years, through my partnership with Prudential, I’ve learned the importance of having a budget, knowing where we stand, saving, and having an emergency fund. I must confess I am far from reaching my financial goals but excited to have learned how to start and to be on the right path to prosperity!
I loved reconnecting and learning even more at Hispanicize in Miami last week!
We kicked it all off with a reception
A very engaging and informative panel
The Positive Impact Awards
The Community Breakfast
For me, it’s as if I signed a Prupact! A pact towards financial prosperity!
It’s important to understand the numbers and leave the cycle, here are some data that I want to share with you:
- Individuals have different perceptions and readiness towards dealing with finances
- Lack of trust Latinos have for the financial services industry
- As a Latino, you are not alone in your struggles with finances (42% believe they have different
financial planning needs than the average American household).
- Latino/Latina gender differences when it comes to financial security and future assets
Here are five lessons I learned from Prudential.
I’m sharing with you, hoping they will help you to reach YOUR business financial goals and dreams:
- Saving starts with the decision to invest in a better future and finding new ways to improve your finances
- Automatic deposits towards savings ensure your commitment to it so you can’t forget to put money into your savings
- Resources that allow you to learn more about investment opportunities like Bitcoin which, according to coinbox, is the next best place to invest money.
- Reinvesting in your business is a way to reaffirm your goals and help you take it to the next level – you never know where it’s going to go from there. You may want to start putting in a voip phones system to help with customer and staff communication, as well as updating your internet to a business plan, there is much you can do.
Prudential shared the barriers Latino business Owners face:
A Prudential advisor shared with me: there are only two ways to save, you either reduce your expenses or increase your income.
Seems easy, but it isn’t!
At their space, Prudential Advisors discussed and guided attendees to make better financial decisions!
For me, reducing my expenses wouldn’t bring the results I envision, so I decided to invest in new streams of income, while reducing some expenses we can live without!
My conversation with Prudential advisor Silvia Tergas is below, thought you might want to check it out:
I will be sharing more details on future posts. I will also share my journey with you, through our year long partnership with Prudential, but I came back from Hispanicize ready to bring my “A Game” and get the ball rolling to an even brighter future!
You can read more about previous events with Prudential HERE.
I feel like I still have a lot to learn, but with Prudential, I am on the right path to take the right steps to meet my goals and dreams!
What do you think? Are your finances a priority?
Can’t wait to hear what you think, as usual, give us a Trendy Shout!