In part of three of our series, Darrin Williams, CEO of Southern Bank Corp, Inc. and Jayla are talking about the wealth building, the value of budgeting, tracking expenses and benefits of helping kids learn about budgeting at a very young age. Darrin introduced his kids to charitable giving, saving money and how to spend your money wisely.
There are some unique ways to teach kids the good habits of building your wealth so that they become second nature and establish great patterns of financial security as they grow up.
Darrin is also sharing tips on taking control of your finances. Until you understand where your money is going, you can’t control your financial health. Tracking your spending habits will uncover areas that you may be able to cut back or completely out of your budget. You need to be actively engaged and not passive which will allow you to build a budget and move toward more active building wealth.
A budget sets the priorities of what’s important to you short term and long term. It should become a part of your daily and weekly routine because it is your money so you should know where it is going.