Ivy Wanjiru

Quote of the Week

At twenty, you don’t get the life you deserve, you are just the product of the environment you were lucky or unlucky to have.

Then, as you get older, and enter your thirties, forties, and beyond, you notice how much agency you actually had on your life.

In the end, you will look back, you will connect the dots, and it will all make sense, that you got exactly what you deserved.

- Orange Book(X)

Quote of the Week

People with half your talent are making serious waves while you’re waiting to be ready.

- Unknown

I listened to a video the other day that explained an interesting concept: The 4 Levels of Value. Turns out, the income you earn and the impact you make are based on the level of value you provide. These are the levels:

1. Implementation: This is the lowest level of value, where we perform tasks that require physical labor or manual skills. We trade our time for money, and our income is limited by our capacity and availability. Examples of implementers are workers, technicians, and labourers.

2. Unification: This is the second-lowest level of value, where we manage the work. We oversee people who perform the tasks and coordinate their efforts to achieve a common goal. We leverage our time by multiplying our impact through others, and our income is determined by our leadership and organizational skills. Examples of unifiers are managers, supervisors, and administrators.

3. Communication: This is the second-highest level of value, where we communicate ideas, information, or messages that influence people's hearts and minds. We create value by inspiring, educating, or entertaining others, and our income is based on our ability to persuade and connect with our audience. Examples of communicators are speakers, teachers, and entertainers.

4. Imagination: This is the highest level of value, where we create something new or innovative that solves a problem or fulfills a need. We generate value by using our creativity and vision, and our income is unlimited by our potential and influence. Examples of imaginators are inventors, entrepreneurs, and artists.

What are your thoughts? What level of value are you providing to your marketplace?

#learnsomethingnew

When you approach 22+ and start earning money or have the potential to earn good money, there are mindsets that you need to drop; otherwise, they will hold back your financial growth.

Here are 9 mindsets to get rid of:

1. Money Will Give Me Status. Equating money with status can lead to excessive spending and financial stress. This mindset often results in living beyond your means to impress others.

2. You Have to Work Hard for Money. Believing that only hard work leads to financial success can limit your potential. While hard work is important, working smarter by investing, diversifying income streams, and leveraging passive income can accelerate financial growth.

3. You Need Money to Make Money. While having money can provide more opportunities for investment, it is not the only way to build wealth. Many successful people started with little and grew their wealth through smart financial decisions, education, and perseverance.

4. I am Bad with Money. Thinking you are bad with money can become a self-fulfilling prophecy. This mindset discourages you from learning about personal finance and making informed decisions.

5. Money is Evil. Believing that money is inherently evil can hinder your financial success. This mindset may cause you to avoid wealth accumulation and miss out on opportunities.

6. Investing in Stocks is Gambling. Viewing stock market investing as gambling can prevent you from building wealth through investments. Unlike gambling, investing in stocks involves research, strategy, and time.

7. I'll Be Happy When I Have Money. Believing that money alone will bring happiness can lead to perpetual dissatisfaction. While financial stability can reduce stress and provide comfort, true happiness comes from relationships, personal growth, and life experiences.

8. I'm Too Young to Worry About Finances. Thinking that financial planning is only for older adults can lead to missed opportunities for early wealth-building. MMFs and their compounding nature when started early can create great wealth.

9. Debt is Always Bad. Believing all debt is harmful can prevent you from leveraging good debt to build wealth. While excessive or unmanaged debt can be detrimental, strategic use of debt, such as student loans or mortgages, can be beneficial if managed properly.

Which mindset did I leave out?

On the 4th of July, we will have a roundtable discussing such topics on personal finance and many other topics. Click this link [https://lnkd.in/dRcFzrHv] and get yourself a ticket today!

Pink Tax is a term used to describe the phenomenon where products marketed towards women are priced higher than similar products marketed towards men. It refers to the discriminatory pricing that inflates the cost of goods targeted at women, affecting their buying power and financial well-being.

For example, Personal Care Products - omen often pay more for razors, shampoo, and deodorant compared to similar products marketed towards men. This pricing disparity is prevalent despite the products having similar functionalities.

Women's clothing is another area where the Pink Tax is evident. Similar styles and qualities of clothing can be priced higher for women compared to men, even for basic items like t-shirts, jeans, and sneakers.

Companies exploit gender-based marketing to cater to perceived differences in willingness to pay between men and women. They assume that women are more likely to prioritize aesthetics, and are therefore willing to pay a higher price for these products, thus pink tax. There are, however, ways to navigate pink tax:

1. Research and Compare Prices: Take the time to research and compare prices across different brands and retailers. Look for alternatives or gender-neutral options that offer similar quality but without the inflated cost.

2. Shop in Different Sections: Consider exploring products marketed towards men for potential savings. Many items, especially personal care products, have similar ingredients and functionality regardless of gender-specific marketing.

3. Evaluate Services Pricing: Be conscious of pricing disparities for services such as haircuts, dry cleaning, and vehicle maintenance. Research and compare prices among different providers to ensure you are not paying more based on your gender.

As a woman, it seems nearly impossible to completely avoid the Pink Tax. However, implementing these methods can significantly reduce its impact on your financial health. What has been your experience with Pink Tax?

Quote of The Week

“Your fate is not defined by where you were born, or whether your parents were rich, educated or well connected.

It is defined by who you believe you could be, where you believe you could end up, and the subsequent efforts and sacrifices you are ready to make to get there.“