Meet Mitchell Christie, The Millennial Advisor. His mission is to transform the mindsets of his clients in order to help them achieve financial freedom and raise the financial literacy of his community. He is also a Leading Team Member of KG Financial. KG Financial are advisors who pride themselves on being able to relate to their clients and their lifestyles. The ability to relate allows them to assist clients in learning, strategizing and most importantly taking action in order to achieve goals. They specialize in Risk Management, Wealth Accumulation, and Wealth Distribution & Preservation.
Mitchell gave very insightful information regarding financial literacy. See our interview below:
Q: What saving tips do you recommend?
A: “Budgeting isn’t about limiting yourself- it’s about making the things that excite you possible”
The first thing we do with any client is their budget. By looking at bank statements from previous months we uncover a lot of instances where people don’t realize how much they spend in certain categories. For example, when we ask how much a month is spent on eating out or shopping most millennials are either unaware or spend much more than they realized. Having a budget that fits your lifestyle makes working towards your goals much easier.
Save with a purpose. Having a reason or purpose behind why you are saving makes the process more enjoyable. Have milestones where you reward yourself along the way can help keep you on track.
“If you fail to plan you plan to fail”
Having a budget is just step one. A complete financial plan takes into account your immediate needs, but also your short- and long-term needs. Having a complete plan will help you track your progress towards certain goals and will help you when the unexpected happens.
Our generation made the phrase YOLO famous and subsequently a lot of times we view our finances the exact same way. We neglect planning for the future and all of the expected and unexpected events that occur throughout life.
Q: What are some ways we can be more resourceful with our money?
A: “Make your money work for you don’t work for your money!”
Passive income is a key to achieving Financial Freedom! Passive income can come in many different ways with the most known being investing. As millennials we have the unique opportunity to invest early and allow the compounding interest to do the hard work. The more time you have, the more interest you will incur, so don’t wait start now!
Become an owner and or entrepreneur as early as possible. Turn a passion or side hustle into a business. If it is something you love to do you will never feel like you are working.
Q: How can I improve my financial aptitude?
A: Having a trusted financial professional who understands you.
Knowledge is everywhere thanks to the internet, and although this can be a great thing in many ways it also can be overwhelming to some. There are thousands of books, podcasts, and videos you can watch, but nothing compares to having someone who speaks the language and understands how to answer your questions.