Why knowing your numbers is essential? Artwork

Staying in the Black

Stay in the Black is dedicated helping teachers get their money straight and live their fullest life on a public servant salary Are you a teacher living check to check? Are you worried about your student loans? Can you afford to purchase a home? Can you afford to have children or send them to college? In this podcast we will cover pensions, student loans, side hustles and ways to maximize and expand your finances. We will also cover budgets, saving, credit and more! You will find information, interviews, book reviews and you will leave with action steps to help you Stay in the Black, for more go to stayingintheblk.com

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Staying in the Black

Why knowing your numbers is essential?

November 10, 2023 • Ms. Black

In the episode Ms. Black discusses why is it essential to know your financial numbers. She discuss how four of her clients have been inspired meet their financial goal when learning their actual numbers. Use these numbers to meet whatever goals you set for yourself. You can earn more, spend less, or a combination of both to meet your goals faster. The choice is up to you.

Learn your numbers
Step 1: Track your spending for a month
Step 2: Multiply your monthly spending by 12 to learn your yearly spending
Step 3: Multiply your yearly spending by 25 to learn your financial independence/ retirement savings number

Example: Monthly spending $7000
$7,000 x 12= $84,000 yearly spending
$84,000 x 25= 2,100,000 financial independence/retirement saving number

Ms. Black, the host of Staying in the Black, is a single mom, homeowner, and public-school educator in NYC. She owns two properties and is one mortgage away from being totally debt-free. She loves traveling the world with her family and has over $500,000 in her retirement accounts beyond her pension.

Learn more about Ms. Black:

Website: http://www.stayingintheblk.com

Instagram:@stayingintheblk