Did your budgeting app just tell you that you’ve overspent on groceries again? Still buying one too many pairs of shoes? Splurging on weekend trips? Who holds you accountable when it comes to budgeting and managing your money? It’s okay to admit that you may not be good at sticking to the goals you set for spending each month.

In collaboration with State Farm®, ESSENCE presents Women, Let’s Win!: a three-part video series to promote financial planning and literacy among Black women. State Farm Agent Tracey L. Harris sits down with bestselling author and lifestyle influencer, Ty Alexander; fitness and lifestyle influencer, Angelique Miles; and CEO of Clever Girl Finance®, Bola Sokunbi, to discuss money matters.

As the ladies continue their conversation, the group digs deeper into some steps for staying on track. First, you need to get extremely familiar with your spending habits. Once you know your spending behavior, it becomes easier to break bad habits with some simple tools and tips.

“Most people don’t have an emergency savings account,” suggests Harris. “What I stress to clients and friends is three to six months of your monthly expenses or 10 to 15 percent of your income is what you want to set aside for your savings.”

How does one do that? Find out by watching the video above and stay tuned for more from the Women, Let’s Win! series! For additional tips on financial wellness, contact your local State Farm agent. Also, be sure to visit LetsStartToday.com for other tips and financial resources.

Share :
TOPICS: