Though we try our best to avoid them, financial mistakes happen. According to a report from the National Financial Educators Council, a lack of financial knowledge costs Americans an average of $1,500 per person per year. Whether it be from poor budgeting, overusing credit cards, careless spending, or whatever negatively impacts your wallet, financial mistakes can pile up, and trying to improve your situation can feel insurmountable.
In this week’s episode of Money Glow Up, host Tiffany Aliche speaks to Jamila T. Davis, author, educator, activist, and entrepreneur, about financial mistakes and whether or not people are able to recover from them. Davis speaks of her experience firsthand, as her financial errors led her to a 12-year prison sentence where she lost everything. Not only did Davis use this experience to learn from her mistakes, but she used what she learned about business and finances, as well as her entrepreneurial spirit, to hustle and rebuild her wealth in just seven years. “You can come back from everything,” Davis says.
After being given a second chance, Davis said hard work, entrepreneurship, and creating and sticking to a plan can make all the difference. “Get wise, create the plan, and then stay focused and execute.” Together with Yahoo Finance, Tiffany Alice creates a space to share real and inspiring money stories, learn financial fundamentals, and build your future. Step into the classroom with Money Glow Up every Thursday at 12 p.m. ET with Tiffany Aliche — aka The Budgetnista — to jump-start your financial journey.
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