All hail the queen (who turns 37 today)! #BeyDay
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| Source: https://goo.gl/pciRyu |
Beyonce certainly bows down to no one when it comes to her finances, so why should you? The superstar, who is worth $350 million and counting, can teach us a thing or two about money.
Top Money Lessons Beyoncé Taught Us
Here are the Top Money Lessons Beyonce Taught Us.1. Be Financially Independent
Beyonce had this to say in an interview with GQ Magazine:
"You know, equality is a myth, and for some reason, everyone accepts the fact that women don't make as much money as men do. I don't understand that. Why do we have to take a backseat? I truly believe that women should be financially independent from their men. And let's face it, money gives men the power to run the show. It gives men the power to define value. They define what's sexy. And men define what's feminine. It's ridiculous."
This is similar to the premise of financial independence -- that you get to define what you value. For some, it is time spent with their children. For others, it is time spent on a passion project. Whatever your why may be, being financially independent gives you the ability to control how you spend your time. It is more than just money. It gives you the power to control your destiny.
2. Take Control
Beyonce controls every aspect of her career -- from her styling, social media presence, and accessibility, Beyonce is one woman in control. She has proven that being in control of your work and brand can prove to be beneficial. The same is true for your finances.
Take a look at what you earn/receive every month and analyse your expenditure. Note where your money goes and identify unnecessary spending. Aim to reduce or eliminate unnecessary expenditures and save that money instead. Or use it to pay off debt. As long as you are in control of your money, you decide what to do with it.
3. Invest Wisely
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| “Gimme my check. Put some respeck on my check. Or pay me in equity, pay me in equity, and watch me reverse out of debt.” |
Speaking of taking control of her finances, Beyonce has made wise financial decisions. In an interview with the UK Mirror in 2009, the mogul said:
"I have a lot of property. I've invested my money and I don't have to make any more, thank God, because I'm set," she told the UK Mirror in 2009. "I'm now able really to be free and just do things that make me happy."
Investing her money wisely gave Beyonce the freedom to do things that made her happy. She has been able to take risks in her career in terms of artistic direction and how she releases albums, which were enhanced by her being in a secure financial position.
Common, yet wise, investments include:
- Investing in property;
- Investing in shares/stocks;
- Investing in Unit Trusts;
- Investing in ETFs;
- Etcetera
Take the time to research investing and learn about the different types and their associated risks. Speak to a financial advisor to help you make the right financial decisions for your future.
The queen, as she is affectionately known, is not only a singer but an actress, entrepreneur, producer, songwriter, and dancer. She has many skills and roles. Beyonce leveraged her fame as a singer to catapult her into other arenas of success. Diversifying (until a certain point) provides the most return for the lowest amount of risk. Beyonce's success has proven this to be true.
4. Diversify, Diversify, Diversify
The queen, as she is affectionately known, is not only a singer but an actress, entrepreneur, producer, songwriter, and dancer. She has many skills and roles. Beyonce leveraged her fame as a singer to catapult her into other arenas of success. Diversifying (until a certain point) provides the most return for the lowest amount of risk. Beyonce's success has proven this to be true.
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| Be on the lookout for ways to diversify your investments. |
Final Thoughts on Top Money Lessons Beyoncé Taught Us
Beyonce has inspired millions around the globe to follow their dreams and achieve excellence in their chosen paths. I hope this blog post inspires you to take steps toward financial independence.
What did you think of this blog post? Have you been inspired to take control of your money and make sound financial decisions? Are there other money lessons you can think of? Let me know in the comments section below! Take care.
What did you think of this blog post? Have you been inspired to take control of your money and make sound financial decisions? Are there other money lessons you can think of? Let me know in the comments section below! Take care.
eishstudentbudget was started in 2015 by a South African university student who is passionate about saving and making money, and wants to educate others to do the same. #eishstudentbudget is a personal finance blog that educates university students on their finances. Take the 'eish' out of student finances!
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