After having done all the, “supposed to’s” like graduating from college, getting a great job (earning six figures a year), buying a nice big house, and starting a family, Amanda Steinberg found herself over $100,000 in debt. In the introduction to her new book, WORTH IT: YOUR LIFE, YOUR MONEY, YOUR TERMSAmanda describes feeling worthless during this time.

Amanda dove passionately into educating herself not only about how to create and build wealth in terms of how to save, but she also learned why most women are disengaged from this conversation.

Since then, Amanda has launched DAILYWORTH (a blog aimed at educating people how to earn more, save more and spend smarter) and founded WORTHFM (a digital investing service with a commitment to simplicity). She’s been named by Forbes as one of twenty-one New American Money Masters and has appeared on Today, CNN, and MSNBC. Oprah also selected her to the exclusive SuperSoul 100. 

Amanda says that there are three important components of your finances you need to assess to get clear on your path.

  1. What’s your money story?
    What are they things you say about money? For example: “I’m a spender not a saver but that’s ok because I earn so much that I’ll eventually have enough.” “Even if you take your finances into your own hands, if you’re not clear on the mechanisms that work in your brain, then you may fall into some sabotage patterns over and over again that end up demoralizing your efforts,” says Amanda
  2.  What are your roots?
    What are your assets? What are your investing strategies?

    “THIS IS THE EQUITY YOU’RE BUILDING FOR THE LONG TERM AND IT’S THE SECURITY. BUT IF YOU DON’T UNDERSTAND THE RISKS ASSOCIATED WITH EACH, WHAT YOU THINK IS AN INVESTMENT CAN ACTUALLY TURN INTO A LIABILITY.” says Amanda.

    For example: A business can be an asset if it is a brand that can be run without you or sold for it’s contract. However, it could not be considered an asset if someone’s business is as a freelancer wherein he or she is selling their time.

  3. Asses your Wings
    What is your cashflow? It comes in three difference forms: income, credit and savings. 

To learn more, you can buy her book wherever books are sold. You can also listen to this podcast interview with Amanda and I on the WTF am I Doing with My Life? Podcast. 

 

Kristy Arnett

Kristy Arnett is Editor in Chief of the Women Network. She is also a writer, speaker, Emotional Intelligence Coach and professional risk taker. For the past decade, she's worked in the poker industry as a reporter and player, and now as an EQ coach, Kristy uses her ability to read people and take calculated risks to get people desired results in their lives. Host and creator of the WTF Am I Doing With My Life? podcast, Kristy brings together people who are looking to answer this question in any domain of their life. From interviews with personal development and spiritual growth experts, to edge-of-your-seat personal story telling, the podcast is an honest, raw take on fulfillment, love, purpose and happiness.