Your personal financial journey does not need to be a solo one! At The Pledgettes, we are not self-made men; we are community-made women. We celebrate all of those who have helped get to where we are today and are helping us reach our Big Financial Goals of the future.
We believe that there are 5 types of people that belong on your Financial A-Team, including specialists, connectors, mentors and mentees, financial friends, and diverse thinkers. By collaborating together, we are closer to achieving those Big Financial Goals that each one of us has.
What is a Financial A-Team?
If you are the CEO of your money (and you are), your Financial A-Team is a board of directors guiding you to make the best decisions in your personal financial journey. Your Financial A-Team is full of A-players. There’s a reason we call it your A-Team, not just any team. Your A-Team will be aligned with your Big Financial Goals, current financial state, money mindset, and more to build the best team for you.
Think about the best things you have achieved in your life and who and how others have participated in your journey to do big things. The same goes for our financial journey and Big Financial Goals. You may already, unintentionally, have some A-Players. You may also, inadvertently, have some people that need to be removed. I’m talking about that well-intentioned family member or friend who “shoulds” all over what you should be doing.
Your Financial A-Team will be specific to you, your values, and your goals. Here are a few ideas of who you need on your Financial A-Team to get started.
This is typically the first person people think of and sometimes the only person. The number one question I get asked is, “Can you introduce me to a Financial Advisor?” Yes I can, but based on your goals and current state, a Financial Advisor may not be the first person you need.
Specialists are licensed professionals with the skills and education to help you achieve Big Financial Goals. Not only do they understand and support your Big Financial Goals and current personal economy, but they offer specific advice and a financial plan based on their expertise, your financial state, and your Big Financial Goals. They believe in you and see a clear action path for you.
- Ask the right questions to clarify your goals;
- Analyze your current financial state;
- Offer advice based on their credentials and expertise to fit your goals;
- Map out a strategy for your goals and how to achieve them.
Specialists can be Financial Advisors, Mortgage Brokers, Business Brokers, Bankers, Financial Therapists, Accredited Financial Counselors, and more!
Next are the Connectors, your outgoing friend or colleague who doesn’t believe money is a taboo topic. They are well-connected and are lifelong learners, always curious.
Connectors are people who aren’t qualified to give you professional advice, but are well-connected. They have circles full of professionals and love nothing more than connecting great matches. They are probably already making money moves and would be happy to share their favorite books, podcasts, or articles.
You can lean on advice from your parents and how they’ve planned their finances throughout their lives or you can lean on your friend that meticulously plans out their financial path and isn’t afraid to talk about money. Connectors don’t necessarily have to be specialists (though sometimes they can be); they just have to be people you know well and trust to talk to you about money.
- Share experiences, but they don’t advise;
- Connect you to the right people;
- Refer resources like books, podcasts, or communities.
You can meet Connectors from your Specialists, at events, or in your current network.
MENTORS / MENTEES
Having Mentors and/or Mentees can be critical for your financial journey. Professionally, we are consistently encouraged to seek out mentorship. And it may be even more important to seek out financial mentorship!
To find a mentor, find someone who is 10 steps ahead of you with your finances. If you have goals to invest in private companies, find someone who is already doing it! Learn from mentors who are inspirational, have faced and overcome struggles in their financial journey, and can be leaders in their community. When you hear about the journey of a mentor, your goals can become more clear, real, and attainable. You can confidently take action to achieve your Big Financial Goals.
On the other hand, to find a mentee, look behind you on where you have been! What do you wish you had known 5 years ago? Start a healthy, wealthy money talk, invite them to a financial community or event, or share a resource with them. Your individual money moves have a ripple effect and you could be the inspiration for someone else to have more financial confidence and success.
Mentors and Mentees can:
- Inspire you;
- Share their experience;
- Change the world.
Mentors and Mentees should be formal relationships (that’s where we get to the good stuff) and can be found through Connectors, in-networking groups, or within Alumni Associations.
Your different friend groups have formed based on a shared interest or shared experience. I have friend groups from shared experiences like high school, college, professional industries, and local coworking communities. I have friend groups from shared interests like snow skiing, dog walks, shopping locally, and money. Yes, I have found my Financial Friends in The Pledgettes community too.
Financial Friends know that we are not competition and they are ready to be your ultimate hype girl or guy on your personal financial journey. They can also share a short-code with you so they understand that “getting the SOW signed” is a huge milestone in your business. They are also taking an active role in their financial journey and embrace money talks. Financial Friends have an abundant mindset and a love for celebration.
Celebrating is a valuable part of your financial journey because success is contagious. Making your first million starts with making your first dollar and Financial Friends are in it for the long-haul to celebrate your milestones and achievements. It’s important that your celebrations are aligned with the milestone. You don’t have to buy a new house and then go into debt with new furnishing for the whole place. A celebration can be a party, dinner out, or a happy dance via FaceTime. Acknowledging your financial wins and sharing those with your Financial Friends is my favorite part of The Pledgettes.
Financial Friends can:
- Supply ample motivation as they cheer you on;
- Offer perspective when you’re self-sabotaging;
- Celebrate with you.
Find Financial Friends in The Pledgettes community, inspiring your best friends to have more intentional money talks, or find people on similar journeys as you.
Last but not least on your Financial A-Team are the Diverse Thinkers. Diverse Thinkers are exactly what their role entails – those who think a little differently than others about money and wealth building. They might see the value in investing something long-term, such as an ESG mutual fund, that others might not understand in the short-term; they were ahead of the cryptocurrency trend; they test the waters and sometimes take greater (calculated) risks than others.
It’s important to remember that you can learn from Diverse Thinkers without following directly in their footsteps. I love having conversations with Diverse Thinkers to learn how they evaluate risks, find alternative networks, and who is on their Financial A-Team.
Having Diverse Thinkers on your Financial A-Team is a great way to expand your Financial Literacy, which may inspire you to test the waters on your unique personal financial journey.
Diverse Thinkers can:
- Test the waters;
- Teach you nuggets;
- Expand options for all.
Diverse Thinkers can be tricky to find, but you can check out social media or even within your own network to find them. Be clear on what you’re looking for and you’ll find them.
The First Step in Building Your Financial A-Team
For the Simon Sinek fans, we start with Why! Why do you need a Financial A-Team? It’s to achieve Big Financial Goals and confidently enjoy your personal financial journey!
Start planning out your dream team based on your Big Financial Goals and current financial state. Then interview to find the right matches with the right experience, skills, and personality. You want to work with people you are excited to talk to instead of trying to avoid. Have transparency around money, including how Specialists get paid. Money likes to flow and there are reasons professionals get paid for their skills and expertise.
Finally, remember you are looking for a Financial A-Team (emphasis on the A). Red flags should make you run if they don’t believe in you or your goals, overcomplicate their answers to establish a power dynamic (yuck), or you don’t want to answer their calls!
Your financial journey should not be a solo one! You are ready to build your Financial A-Team! Surround yourself with a support system that can hold you accountable and celebrate your milestones with you. Put yourself out there, have healthy, wealthy money talks, and step into the role of CEO of your money!
Need an easy way to get started? We have great membership options for The Pledgettes Community, a financial community for values-driven women.
If you want even more guidance and encouragement, The Pledgettes Accountability League (PAL) is a committed group of financial experts and enthusiasts that meet twice a month over a quarter to set financial goals together, check-in with each other, and encourage each other on their financial journey. When you add accountability towards your goals, you are 95% more likely to achieve those goals than without any accountability at all.
And if none of that is right for you right now – you can sign up for our bi-weekly newsletter to get tips sent right to your inbox until you are ready to make a commitment.