Wealthy Women Blueprint: 5 Easiest Steps to Follow Your Wealthy Women Blueprint

Introduction

I have a confession: I've never been particularly interested in money. 

Sure, I've always dreamed of being rich (what kid hasn't), but my initial interest in personal finance was about helping others and less about making sure my bank accounts were swimming in cash.

However, as I've gotten older, became a mom, and started my Real Estate Investing Business, I've realized that having wealth comes with benefits! And those benefits shouldn't be available to more women of color #period.

Luckily for me (and you!), there are plenty of ways to make your dreams of financial freedom come true if you're ready to put in the time and effort necessary to achieve them. 

So here's the deal: Wealthy women have a financial blueprint that they use to gain financial success. This blog post can help you map your Blueprint if you're ready. 

Identify Your Personal Blueprint

Wealthy women understand that their Blueprint is as unique as their DNA. Your Blueprint is simply a financial plan and that plan has to start with identifying and defining your personal goals and values. 

Ask yourself: 

• What do I want from life? 
• What drives me? 
• What is risk tolerance? 

Because your Blueprint is a combination of your personality, skills, and values, how you answer these questions will differ from the next woman's answer.  

I recently asked my community, Women Who Build Wealth, to define what it means to be wealthy. Not surprisingly, we had over a dozen different definitions. 

Because we all define wealth differently, what's important here is ensuring you are comfortable with your definition. It will determine how happy you are, how much money you need to make, and even how you handle relationships. Imagine chasing a definition of wealth that doesn't align with your core values. That's a recipe for disaster.

Discover Where You Stand in the Seven Areas of Wealth

Wealth is more than just money. Have you ever heard the saying, "money can't buy happiness?"A few years ago, rapper Cardi B went viral for stating in an interview that money didn't make her as happy as she thought it would. 

Whether you care for Cardi or not, you must admit that she's transparent in her feelings. How often have celebrities gone "off the rails" or families act "off the chain" around money? 

Money alone won't make you fulfilled or successful. However, it can move the needle when combined with other factors, such as relationships and experiences. 

The concept of wealth has changed over time, with each generation-defining it differently. Today, wealth measures financial and emotional well-being, personal power, and freedom from struggle or financial pressure.

Where do you stand in each of the seven areas of wealth? Make sure your Blueprint includes a healthy balance of each. 

• Financial Capital
• Material Capital
• Wisdom Capital
• Nature Capital
• Spiritual Capital
• Social Capital
• Time Capital

The seven wealth areas can help us honestly answer the Financial Blueprint questions when you realize how broad the definition of wealth is; it's easy to see why this questions elicited a dozen different responses. 

For example, one woman defined wealth as having millions in the bank; another felt wealth meant living debt-free and having enough savings for great retirement—my generation Zs were all about an early retirement! You may want to give to charitable organizations or support your aging parents. The possibilities are endless, and the only thing that holds for everyone is that you need a financial plan to get there!

Investigate the Seven Sources of Wealth and Income

Once you understand the seven areas of wealth and income, you want to break your goals into short-term and long-term. 

Short-term goals are defined as those you can realistically achieve within 12 months (or 12 weeks if you took my Fire Up Your Finances Program). 

Some short-term goals you may want to include in your Blueprint are:  

1. Building an emergency fund
2. Improving your financial literacy
3. Increasing your monthly cash flow
4. Sticking to a budget
5. Paying down debt

You know, the things that we swear we'll do at the beginning of the New Year! 

Long-term goals are those that will take longer than one year to accomplish and include:

1. Estate planning
2. Building your emergency fund
3. Funding your savings account consistently
4. Buying a house
5. Retirement planning
6. Creating a college savings fund
7. Purchasing an investment property (or two)
8. Paying off high-interest debt

Now that we have the basics out of the way. It's time for a clarity check--

• Based on what you've learned so far, what short-term goals do you want to accomplish this year?
• What are your long-term goals for the next 3 to 5 years? 

Really, think about those questions and how they relate to your current circumstances. From my experience working with women inside my membership community, they face a dilemma when creating their Wealth Blueprint. 

This dilemma is one of the reasons I serve women of color. We are impacted the most by this dilemma...

Commonly referred to as the wage gap, closing that space between where they are financially and where they want to be has challenges unique to our shared experiences. 

We won't go too deep into that, so I'll keep it pushing--most gaps can be closed by figuring out creative ways to make more money. Here's a crash course on how to start:

1. Identify your skills, areas where they are lacking, what needs work, and how much time/energy each requires per week.
2. Next, compare that with other potential jobs/careers to make an informed decision about which one would give you the most return on investment.

Lastly, create an action plan for how you will acquire the skills and training needed to make your new career a reality inside your Blueprint. This could include certifications, courses, or just learning how to monetize the knowledge that you have.

Closing the gap is a massive part of your financial Blueprint and something we focus heavily on inside my community.

Once again, you must recognize that even though your focus is on financial well-being, you'll be forced to discover what you value and understand how your finances fit into the bigger picture. You can start building wealth in all seven areas with the right tools.

Let's move on and discuss the idea of having several streams of income as a wealthy woman. Contrary to popular belief (i.e., social media), diversifying your income isn't about doing 9 million different jobs.

It's more about understanding how you can make money and working with someone who can show you how to 10x what you're already doing. Let me break this down for you:

There are approximately seven ways to make money in this world.

1. Earned income from paychecks.
2. Profits from businesses they own
3. Rents from rental real estate.
4. Capital gains from selling appreciated assets.
5.  Dividend income from stocks held.
6. Royalties from selling rights to use something they've written or invented.
7. Interest from savings, CDs, bonds, or other lending activities.

Financial advisors and experts make it sound like having multiple income streams is difficult, but it isn't. Let me give you an example of how other women like you and me can get this done. 

Let's say you are a cosmetologist making $75k a year in your private salon suite. On top of your services, you also sell products that your clients love.

You've legally set up your business and paid yourself through your company. Congratulations, you now have two streams of income, your salary and profits from your business. Now, you decide to buy your first property, a duplex. You live in one unit and rent the other. Viola, you are officially a landlord and now have three income streams.

Next, you create a digital course about operating a successful salon suite #moneymoves; you now have four income streams. 

Finally, you invest in a few stocks from the beauty and lifestyle companies you follow on Instagram. Let's say those stocks pay quarterly dividends. Hello, Cash Flow Queen! You now have five streams of income.

See, it's easier than you think to diversify your income and improve your financial life.

Now that you've got a good grasp of a healthy financial plan, it's time to find the right mix for your Blueprint. 

Next, I want you to dig deeper and find the areas that need your attention (i.e., your blindspots). Inside my program, Fire Up Your Finances, I teach you how to figure this out for yourself using a SWOT analysis. SWOT stands for strengths, weaknesses, opportunities, and threats. 

Once you run the analysis, it's time to get down to business and start figuring out how to build a plan that works for your life. Ask yourself: 

✅ What areas of improvement are necessary to build your seven income streams?

✅ Do you need to pay down credit card balances and other high-interest debt so that you start investing in your future? 

✅ Do you need to find a new job that affords you more money and mobility?

Your Wealthy Women Blueprint is coming along and should outline a two-pronged strategy for achieving financial independence:

1. Create multiple streams to close the gaps
2. Develop a financial plan that will help you make intelligent financial decisions and investments in the future.
   

Always Be Growing

Inside my membership community, we live by the motto, "We are constantly growing, learning, and growing some more. We're never done. 

As a Woman Who Builds Wealth, your goal is to be in the best financial shape possible. Do this by continuously investing in yourself. Read books, take courses, attend webinars and seminars, join masterminds – whatever it takes to get to the next level. 

Remember, wealth isn't achieved overnight – it's a process that requires patience, discipline, and consistency.

Wealth is a state of mind, and it is also a money matter

The biggest thing keeping women of color from collectively building wealth is access to knowledge, resources, and support in an environment where we feel safe, seen, and heard. This is why I've opened the doors to my Women Who Build Wealth Community Hub. The community includes:

At just $7 a month, you'll have access to information I've used and taught over 200 women, JUST LIKE YOU reach financial freedom. All taught by me Award-winning Real Estate Investor. Just google Jasmine Williams (you'll see my receipts). Click here for more information.

Your Wealthy Women Blueprint is a journey that will take you from knowing little about your finances and investing to becoming a savvy investor with a healthy portfolio. This is the most important thing to remember: the Wealthy Women Blueprint is not just about money but also about living well and being happy.