Light Up the Mic Podcast

Beverly Harzog Answers Listeners Burning Money Questions - Side Hustles, Housing, Saving, Investing, and More…

Kembala Evans Season 1 Episode 7

“Light Up the Mic” listeners get answers to their burning money questions from nationally recognized personal finance expert Beverly Harzog. Kembala Evans and Beverly Harzog sit down and discuss the challenges many Americans have living paycheck to paycheck, side hustle ideas for more income, and the necessity of having an emergency fund. 

Beverly shares her insights on building a diverse retirement portfolio and the significance of shifting from a scarcity mindset to one of abundance. They both agree your mindset is very important in achieving your financial goals. So, changing the way you think could impact your finances and the way you see the world around you.

The conversation also touches on the current housing market, navigating the complexities of homeownership in today's economy and how to build residual income. Additionally, they talk about foreign currency considerations for travelers, and Beverly provides listeners with practical advice to save money when traveling abroad. 

And the significance of teaching children about financial literacy. Beverly shares the strategies she used to help her kids develop strong money management skills, including involving them in family budgeting and financial conversations. Stressing the importance of age-appropriate discussions about finances, especially during challenging times.

She also encourage listeners to seek professional advice for tax and financial planning (when needed).

Key Takeaways:

  • Side hustles can provide additional income and savings.
  • Living paycheck to paycheck is a common struggle for many Americans.
  • An emergency fund is crucial for financial stability.
  • Investing early, even with small amounts, is important for retirement.
  • Diversifying income sources can lead to financial independence.
  • Homeownership requires careful consideration of current market conditions.
  • Mindset shifts from scarcity to abundance can open new opportunities.
  • Do your research before traveling to avoid foreign transaction fees.
  • Start teaching kids about money at a young age by counting real money.
  • Involve children in family budgeting to help them understand financial decisions.
  • Use shopping trips as opportunities to teach kids about costs and budgeting.
  • Encourage kids to save for items they want to teach them about budgeting.
  • Seek professional financial/legal advice to navigate tax laws and savings.

For more information on Beverly Harzog, please visit BeverlyHarzog.com

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