Michelle Singletary is one of America’s foremost authorities on creating financial security. She is a nationally syndicated personal finance columnist for The Washington Post.Her award-winning column, “The Color of Money,” is carried in about 100 newspapers across the country.
Michelle is the author of three books: The 21 Day Financial Fast: Your Path to Financial Peace and Freedom, Spend Well, Live Rich: How to Live Well With the Money You Have, and Your Money and Your Man: How You and Prince Charming Can Spend Well and Live Rich.
In this dynamic interview for my SiriusXM radio show, Michelle shares:
- Wealth is not just about how much money you make, but more about how much money you keep!
- People who win the lottery typically end up broke because they don’t have a plan to grow their money.
- Consumption can be a bad habit, like mindless eating. The only difference is that rather than getting bigger, your bank account gets smaller and eventually, ceases to exist.
- Money management is critical to long-term wealth building and long term marriage and life building.
- Good money management is not something you need to be born with. It is a teachable skill! Read and take classes on money management and get wiser on how to handle your money.
- Beware of ongoing “little” expenses. “A small leak can sink a large ship!”
- Most people say they want to be wealthy, but their actions don’t correspond to their words!
- Keep a spending journal and record what you spend for a month. You will be amazed at how your money goes through your fingers.
- If you have good financial principles and stick to them, you can not only live well, but can generate generational wealth.
- Never, ever co-sign for anyone other than your spouse! It is one of the major ways you destroy your credit and your savings.
Listen to the new season of The Willie Jolley Wealthy Ways Show on SiriusXM Channel 141. Airdates: Saturdays at 4pm ET, Mondays at 8am ET, Tuesdays at 6pm ET and Wednesdays at 11am ET. Listen and be inspired!
Original airdate: March 8, 2017
The Willie Jolley Wealthy Ways Show, is the #1 Motivational / Inspirational Show on SiriusXM.