Sat. May 25th, 2019

Edwina Delamore, Personal Finance Advice

BELGIUM – Hello from Europe, I am Edwina Delamore, age 41, single mom of a teenage son and originally from the Caribbean island of Sint Maarten.  I am extremely honored to be ‘HerGrit Magazine’ contributing Personal Finance columnist.

What is that word…?

I started my career in banking for 3 reasons: 1) Everyone was doing it, 2) It paid well, but most life changing 3) At age 14, I heard the word ‘Deca-Millionaire’ for the first time from an America tourist.

Deca-what, Deca-who… Would you believe no one I knew had a clue what I was talking about; forcing me to figure it out on my own. Now remember I am 41, so I’m talking early 90s when the Internet wasn’t even a 10th of what it is today! At that point I knew something had to change, even though I did not know the word ‘Mindset’.

Source: Visual hunt

Broke single mom

A message to the young ladies; when you have an unplanned pregnancy, no matter how determined, ambitious or dedicated you are… Life Changes!

In the year 2000 at age 22 I decided to take, what we call today, a ‘Gap Year’ and started working at the largest Dutch bank at the time, in Emerging Markets. Extremely well paid, I had colleagues in trading rooms all over the world and was presented with a contract to transfer my career to London when it happened… I got pregnant!

Worse than being pregnant… I had the house, the car, the banker lifestyle, but was BROKE! I got caught up living above my means and somehow, I checked my Deca-Millionaire ‘mindset’ at the door, once I started to work!

Edwina Delamore, Founder of CSG Wealth

Living an unhappy pay check to pay check life!

Fast forward 2018; my son is 17 years old, does well in high school and will be entering college next year. But because I didn’t focus on building a good financial foundation early on, it took me awhile to get back on my feet! But this saved me… My ‘Financial Knowledge’ I learnt at age 14!

See, the years I spent learning about Deca-Millionaires and studying how wealthy people became wealthy was the beginning of me building an unconscious foundation. I would not have liked to see what my life would be if I lacked financial knowledge!

So why am I telling you my story? Because I want you to understand, these Personal Finance columns are not just from book knowledge! I truly understand that many of us born in ‘so-call’ 3rd world countries struggle with the epidemic called ‘Money Mismanagement’, which leadings to: Stress problems, Emotional problems, Health problems, Relationship problems, children with problems.

Source: Visual Hunt

Finance Lesson 1:

Money = Rich and Wealth = Financial Knowledge

Do you realize, the more money you earn the more money you waste? With the internet and all the financial information available today, many women still are not aware that the lack of financial education plays a big part in their everyday problems!

Do you realize the moment you get your pay check or money in your hand you just got rich? Now if I were to ask, what have you done with this money or what strategies do you have to keep and grow the money, then we are talking Wealth.

Wealth is Knowledge that leads to Empowerment and eventually to Financial Freedom. How would you feel leaving an inheritance to your children? How would you like to be remembered as the woman who no longer had Money Stress? How would you like the next generation to succeed?

Women hold the key to the future

Over the years, I have realized; we women carry the invisible title of Chief Financial Officer (CFO). We keep the family finance together! This means we are the bookkeeper, the budgeter and the banker… banker, you ask?

Here is the definition of banker: A banker is an employee of a bank or financial institution who services the financial needs of clients.

Hello! As a mom, have you never heard; hey mom do you have 20 Rand to loan me or I need extra money because my allowance is gone! Haha, so yes bankers, because we have children with financial needs!

The point I am trying to make; we women hold the key to our family’s wealth! We may not always get it right the first or even the second time, but I quote Dr Maya Angelou ~ “Do the best you can until you know better. Then when you know better do better.”

Please see my Personal Finance columns as your ‘Do Better’! When there is a foundation a future can be built. I might not be South African, I may live in Europe and my culture is Caribbean, but what I have learnt from a wealthy mentor is Money, Money Problems and lack of Financial Education is Universal!

So, time we change your ‘Mindset’, so you can start taking the necessary actions to build your Wealth Foundation.

________________

Edwina Delamore

Founder of CSG Wealth, a Personal Finance education company, training women on building a solid financial foundation!

Follow us on IG: CSG Wealth

It’s Knowledge, Empowerment & Freedom

Financial quote for #100YearsOfNelsonMandela 

It always seems impossible until its done! ~ Nelson Mandela

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Edwina Delamore, Personal Finance Advice

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