Working Hard with Grace Beverley Ep. 93 How To Start Investing, Clear Your Debt & Take Control Of Your Finances With Simran Kaur
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Jun 24, 2024 Simran Kaur, a VC and founder of Girls That Invest, shares insights on starting investing, clearing debt, and taking control of finances. Topics include empowering women in financial education, smart money moves, debt management strategies, and understanding investing basics. The podcast emphasizes the importance of financial literacy, setting clear goals, and removing financial guilt to enhance overall well-being.
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When to Start Investing
- Save three months of living expenses in an emergency fund.
- Pay off high-interest debt (7% or higher) before investing.
Investment Strategy
- Determine your desired retirement savings goal.
- Use an investment calculator to determine monthly contributions, aiming for a 7% return.
Financial Health Check
- Track your income and expenses to understand your financial situation.
- Acknowledge and make a plan for any debt you have, no matter how small.