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045 - Tips for building wealth with Shani Tené
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In this episode of the "Take Your Shot" podcast, we dive deep into the topic of building wealth as a business owner with financial educator Shani Tené. Shani shares her expert insights on how to achieve financial independence through a comprehensive wealth-building framework. From effective budgeting and strategic saving to smart investing and debt management, Shani provides actionable advice that can help business owners take control of their finances and work towards financial freedom.
Key Takeaways
- Budgeting Strategies: Learn how to create a detailed and effective budget that helps identify saving opportunities and keeps your expenses steady, even when your income increases.
- High-Yield Savings: Discover the benefits of using high-yield savings accounts like Wealthfront to maximize the interest earned on your savings.
- Investment Tips: Understand the basics of investing, including how to get started with index funds and the importance of consistent investing for long-term growth.
- Financial Freedom Pyramid: Explore Shani's five-step framework for building wealth, which includes budgeting, giving, saving, investing, and paying off debt.
- Debt Management: Gain insights into the importance of prioritizing high-interest debt and the strategic approach of investing before aggressively paying down debt.
- Practical Tools: Get recommendations for useful tools and resources to help you manage your finances effectively, including Monarch Money for budgeting, Wealthfront for high-yield savings, and Vanguard for investment accounts.
Resources:
- Visit Shani’s Website: http://shanitene.com/
- Connect with Shani Tené on Instagram @shanitene
- 5 Must-Have Tools to Reach Financial Freedom
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Episode Shownotes: https://takeyourshotcollective.com/how-to-build-wealth-as-a-business-owner-practical-strategies/
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