Episode 183

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Published on:

3rd Apr 2023

Building Healthy Financial Habits & Principles for Future Generations

What financial advice would you give to your younger self or your children?

In this episode, I’ll discuss principles for teaching young people about money. These include paying oneself first, not spending more than one makes, investing early and frequently, never stop learning, and managing debt effectively. It is very important to have open conversations with family members about money and building a healthy relationship with it.

Build healthy financial habits and ensure that future generations are equipped to make informed financial decisions. Listen now!

Key Points:

[02:40] #1 Pay yourself first

[05:39] #2 Don’t spend more money than you make

[07:32] #3 Invest early

[09:54] #4 Never stop learning

[10:51] #5 Manage your debt


If you loved this episode, you have to listen to these episodes as well: 

>> Spring Cleaning Your Finances: Tips for a Financial Fresh Start

>> Monitoring your Financial Plan with Dr. Preston Cherry [Step 7 of Financial Planning]

>> Implementing the Plan with Shawn Tydlaska [Step 6 of Financial Planning]


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Want to chat with a fee-only financial planner? Shoot me an email at emlen@minoritymoneypodcast.com I Can't wait to meet you.

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About the Podcast

Minority Money
Changing the Complexion of Wealth
The Minority Money Podcast is about finance, family, fitness/health, and education and how all of these things affect your overall wealth.

About your host

Profile picture for Emlen Miles-Mattingly

Emlen Miles-Mattingly

Emlen Miles-Mattingly is the CEO and founder of Gen Next Wealth. He spends much of his waking day striving to bring more value to the table for his clients, with the goal of helping them align their money with their values. Ultimately working with clients to make a lifetime of smart decisions with their resources.
With nearly 19 years of experience in the financial services industry, he decided to leave the large corporations and start his own independent firm. It is his passion to keep the client's best interest in mind when making recommendations. Everyday Emlen wakes up knowing he has an opportunity to learn something new and is excited to share what he has discovered with people in need of it. He has a bachelor’s in business administration and is currently enrolled in coursework to obtain the CERTIFIED FINANCIAL PLANNER designation.
Emlen was born and raised in the small town of Madera, CA this is also where the firm is located. He is married to Maricela and they have 4 children Jada, Mia, Emlen II, and Ecella. We have a very active life, we enjoy working out, hiking, craft beer and escaping to the coast whenever possible.