Earlier this year, the popular CNN Hispanic anchor, Ismael Cala, hosted Elaine King to discuss her philosophy on financial health and her latest book, Los Colores de Tu Dinero: 7 pasos para tu salud financiera.
The book, which will be released in English this summer, provides readers with a set of seven steps that will help promote financial wellbeing. Divided into three different phases, the step-by-step program teaches individuals to create fiscal stability by understanding their financial personality, crafting customized objectives, and developing the organization and discipline to achieve these goals. The next stage focuses on establishing budgets, growing personal and monetary assets, and investments. The final section highlights the social and global significance of protecting and sharing with the community. Los Colores de Tu Dinero also features a workbook that makes the volume interactive and adaptable to both workshops and classes on the subject.
During the interview, Ismael Cala asked how families might attain monetary security even in times of fluxing income. King stressed that the best thing to ensure financial wellbeing is to plan ahead.
She encouraged the adoption of practices such as saving money, creating a fund for emergencies, investing in yourself and your family, and developing a clear plan. Participating in these sorts of step-by-step money management routines will help foster the conditions of fiscal stability.
“Healthy finances are individual to each family,” she said. “It’s extremely important that families avoid comparing themselves with others because the [economic] components are not always the same.”
Cala also invited Elaine King to discuss how people can identify the difference between good debt and bad debt.
“Not all debt is bad debt,” she said, noting that good debt includes taking out student and business loans.
By using these seven strategies and setting up a sturdy plan for the future, families will not only find themselves living better financially, but also living more meaningful lives.
King added that she hopes families will establish clear financial goals together and, in the process, discover the significant impact their money can have, not just on a personal level but on a global scale. She stressed that how families use their money can help create the change they want to see in the world.
See the full interview between Ismael Cala and Elaine King here.
To learn more about King’s step-by-step program to financial wellbeing, grab a copy of Los Colores de Tu Dinero here.