Know Your Money $tory

WISe Wellness Guild proudly hosted Challenge for Change: Know Your Money $tory, presented by Paycor and featuring Bre Bovara, Vice President and Wealth Management Advisor at Fifth Third Private Bank. We had an unfiltered dialogue around personal finances, and offered tips and actions to working your way to a healthy financial foundation, beginning with BEHAVIOR.

Key takeways:

• You begin to form relationships and habits around money as early as the age of 7!

• By identifying behaviors that are triggered by past experiences or learned/observed habits, you can acknowledge them and move toward the organization and wealth-building phases that will provide you with a sense of achievement.

• Follow the 50/30/20 budgeting rule: 50% NEEDS (housing, utilities, groceries, debt payments), 30% WANTS (shopping, subscriptions, hobbies, eating out, etc) and 20% SAVINGS (retirement, emergency fund).

• Benchmarking is a dangerous game. What other people are doing isn’t likely what you need to be doing – work with a professional and use tools to support your values, goals and dreams.

• Get into the market early and stay the course – statistically this will pay off in the future.

Learn more about Fifth Third Private Bank and connect with Bre Bovara.

Learn more about Paycor and Network of Executive Women-Cincinnati.

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