Personal Wealth

Pilot Project

Personal Wealth Program Description

This activity will be led by a Project Manager with the help of Volunteers. We will meet participants as needed in person or virtually. We expect this activity will take fifty percent of our time and fifty percent of our expense. We plan to fund this via grants and donations.


This activity consists of meeting with our participants and guiding them through a series of 6 steps or building blocks that will guide him/her toward building a sustainable financial ecosystem. These steps are: 1) Create a Budget/Net Worth, 2) Reach a savings goal of 20%, 3) Save one month's worth of monthly expenses, 4) Pay off all debt, 5) Save three months emergency fund, and 6) Save for a down payment/buy a house.


Additionally, the plan is for the non-profit to create a phone/web app to help guide participants through these steps and offer a direct phone line where a participant can call and ask for help snippets.


This activity is important because it is the most basic and fundamental step for setting up a sustainable financial ecosystem for wealth generation.

If you want to.

  • Fix your financial "House"

  • Get out of debt

  • Buy a house

  • Invest for the future

  • Reach a healthy retirement

  • Start/Fix you business

We will offer participants one-on-one consultations to work through our financial building blocks, then offer follow-up visits as needed.

If you are a do it yourself, you can follow these steps and use the tools found in our resources pages. We will make ourselves available to you for one-on-one consultations as needed.

Turn on the light.

We will start by creating a budget and calculating your net worth. This will allow us to see the current state of our finances and allow us to make the appropriate adjustments so you generate a positive cashflow and start saving it until you reach one month emergency fund milestone.

Set the foundation.

Once you are generating a monthly surplus and have one month emergency fund, we will be start to aggressively repay all of your debt followed by saving three to six months of monthly expenses which will become your emergency fund. Once you reach these milestones we will be able to start generating wealth

Once we have created a healthy financial foundation, one that will take you through the inevitable economic cycles of life, we will turn our focus to creating wealth. We will do this by going through investments cycles that are in line with your goals and dreams.

Buy a House

First we will start by saving enough for a down payment for your first home. We will contact a bank and learn the specifics and prepare for this transaction. In case you dont qualify for a traditional loan, we will explore our own rent to own program as an alternative.

Invest

As a second step (or a first alternative) we will help you setup a brokerage account and find appropriate investments for you.

Start a Business

Once have a stable financial foundation and your are generating wealth you are ready to start or improve your existing business. We will help you by following the business wealth building blocks which will give you the best chance at succeeding as an entrepreneur.