Simple Ways To Improve Your Financial Well-Being with Tembeka Pratt

FinanceMoney ManagementFinancial Well-Being
Written By Naomi Haile
 

Listen to the episode on Spotify / iTunes / Castbox / Stitcher / Google Podcasts

Power of Why x Tembeka Pratt.png

Listen to the episode on Spotify / iTunes / Castbox / Stitcher / Google Podcasts

For some folks, finances present some level of friction, sometimes even anxiety. We both believe that there is an interesting opportunity to reimagine what one’s relationship to money even looks like. In this episode, Tembeka shares how she focused on her financial goals in the face of distraction, while helping other women do the same.

Tembeka Pratt is a lifestyle finance expert who has been in the financial services industry for over 10 years. And she currently helps Black female professionals create money systems so that they can reach “rich aunty” status with ease.

She currently has a course called financial pre-req, and you also provide 2-hour consults with folks who commit to understanding the financial situation and start thinking about systems to prioritize what’s truly important to you.

This episode is for you if:

  • You want to prioritize your financial well-being by building sustainable habits

  • You’re influenced by "consumer spending culture", but want to invest, build an emergency fund, and plan consciously for your future

  • You know that creating financial systems is the way to go, but don’t know where to start in your own life

  • You acknowledge finances presents a level of friction or anxiety in your life, but you believe that doesn’t have to be your reality.

Looking for something specific? 

  • [4:25] Tembeka‘s introduction to money management, financial independence, and not living beyond your means

  • [5:28] Tembeka’s teen cell phone habits and the reason behind why she got her first a job

  • [6:42] Money stigma

  • [7:07] 2020—a year where many people experience job insecurity, financial uncertainty and why Tembeka started @shes.richer

  • [9:35] Moving to Toronto 4 years ago, the lifestyle changes, and what this move meant financially

  • [10:15] Are you influenced by expensive cities? Behaviours that put Tembeka in a difficult financial position

  • [14:00] Tembeka’s SIMPLE money system that gives her a micro and macro look at her revenues and expenses for the month

  • [18:00] How to create space for the things and activities you love

  • [28:20] Why automate your saving and investing plans

  • [28:43] Renaming your savings accounts to your goals

  • [32:26] Why it was important for Tembeka to start her investing journey with just $50

  • [34:51] Lifestyle creep and how to avoid it

Connect with Tembeka

Connect with Naomi

 
Naomi Haile
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