5 Steps to Money Management with Kwame Jackson

Meet Kwame:  Kwame Jackson is polished, confident and credentialed with prestigious wall street experience and business lessons he learned in front of 22 million people each week, on NBC’s hit show “The Apprentice.” As a New York City based entrepreneur, professional speaker and media personality, he is poised for global success.

His professional experience includes co-founding several internet start-ups during his time at Harvard, sales and marketing roles at Procter & Gamble, and most recently, on Wall Street as an investment manager for Goldman Sachs. It was his no nonsense attitude and ability to be a team leader that made him stand out on “The Apprentice” and it is his affable nature and street smarts that make him stand out in life.

As a professional speaker, he regularly addresses universities, aspiring entrepreneurs and executive management teams at the world’s leading companies on various topics such as leadership, team building, surviving while thriving in corporate america and the importance of being an entrepreneur.

5 Steps to Money Management with Kwame Jackson

Step 1: Find your why?

Why do you want to invest, get out of debt, etc. What are your goals? Is it a trip, home, vacation, or paying off credit cards?

Step 2: Assess your situation.

What is your current debt load? How many credit cards do you own and what are the balances? Find a bright spot and an opportunity area here. Identify them both and build from them. This is the realistic level set to admit you may have a problem, opportunity, or a small win.

Step 3: If you can’t start small start tiny.  

Start a tiny plan to pay off just one small bill, charge off, credit card or personal loan. Start saving an extra $25 a week into a STASH investing account or other. 

Step 4: Create an Emergency Fund 101

Find a way to save $1,000 or more liquid in case something bad happens with your car, apartment, or that last minute flight home for a family health issue. 

Step 5: Raise your income.

Millennials are starting out in their careers and have more opportunities to get raises at their current jobs and seek out new opportunities to get paid. By raising their income and managing those raises between saving, debt reduction, and investing they will grow in financial confidence and earning power. 

Make Smart Spending Decisions says Kwame:

When I first graduated from college and started my job at P&G, I always wanted to buy a Nissan 300ZX, the hot car at the time. I test drove them and priced them out and was close to buying my first in all black. I then had a short conversation with my late godfather who was a self made MD and he suggested that I buy my first house instead of my first car. I had never even thought about buying a house at 22, and I had just gotten my first official apartment in my name about 6 months earlier post undergrad. Long story short, I met with a real estate agent that he suggested, I bought a 3 bedroom, 1 car garage, 1500 sq. foot house in a middle class neighborhood in my hometown of Charlotte, NC per my godfather Dr. Rosamuel Dawkins Jr.’s recommendation. I rented out two of the bedrooms to my fraternity brothers which covered 90% of the monthly mortgage and ensured a fun frat house environment as a bonus. We had 2 of the best years ever right after college in that house, and I sold it for a 20% profit 2 years later and used part of the money to fund my transition to Harvard Business School for my MBA. The story here is pretty obvious, sometimes you have to make the more adult decision and delay some of the immediate gratification right after school. The house was a financial and fun win! Thanks Uncle Sam!

Ask yourself…

What is YOUR Money Mantra? 

*This post is sponsored by Stash. All thoughts and opinions of talent interviewed is their own*