FREE WEBINAR: Overcome Burnout and Build Your Coaching Business in 90 Days - Saturday, July 27th at 11:00 AM PST.

Join us

Financial Goals and Creating Wealth

Table of Contents

Join us as we break barriers and redefine financial success!

Picture of a female writing financial goals.

Building your wealth is much like becoming a first-time homeowner. There are various components of your home that need to be checked off in order to guarantee the longevity and durability of your home. Things as the foundation, plumbing, insulation, electrical, and so on. Financial planning is something similar. You need to develop the perfect framework that will help you maintain your money and grow through compounding interest. Let’s lay the foundation.

What are financial goals? 

Financial goals are objectives that you identify as part of a larger financial plan. This is your foundation. Think about what you want in life, what makes you happy, what advances your career, and what creates the highest return on your investment. 

A financial goal can look something like:

  • organizing a wedding
  • retiring early 
  • buying a home
  • planning a trip
  • launching a business

A financial plan can either be long-term or short-term. A well-structured goal is accompanied by smaller tasks or goals to guarantee that you are moving in the right direction. Nerd Wallet said it best when it comes to understanding why financial goals even matter, “Having financial goals can help shape your future by influencing the actions you take today.”  Every small goal should take you closer to your big plan. 

What essentials should we keep in mind when creating our financial goals? 

First, let’s address the root of the cause. For many Latino households, this type of education and conversation did not happen in our homes. Many of us had to learn through trial and error. Yoli, the founder of Latinas Who Trade, shared that one of the most important money beliefs that she had to unlearn and release was “the belief that a woman’s place is only at home.” Understanding that there is so much available for you is the first step to fulfilling your goals, financial or not. Also, keep in mind your priorities. Take into consideration where you are in life, where you want to be, and your current financial situation. Work accordingly. Everyone’s financial journey is unique so don’t feel ashamed if you are 30 and still working on starting your emergency fund. The point is that you start. 

How can I protect my family wealth?

It’s no secret that family wealth is the key to ensuring our kids’ futures. However, how protected is our wealth? Back to the first-time homeowner analogy, this would be the equivalent of homeowner’s insurance. You need to protect your home for when disaster strikes. Our family’s wealth deserves that same level of protection. Yoli described that one of the most important steps to protecting our wealth is by ensuring that we buy a life insurance policy, especially if you have dependents. Life insurance is crucial if we want to secure our children and our family. 

What are some other ways I can create wealth? 

Creating wealth does not happen overnight. Patience will be your best friend here. Creating wealth is about building healthy financial habits that allow you to create a structured financial plan. However, the means of creating streams of income are endless. You can:  

  • investing in a REIT (Real Estate Investment Trust)
  • open a 529 College Savings fund 
  • buy stocks
  • set up an emergency fund with a high-yield interest rate and save up to 3-6 mos of expenses
  • buy mutual funds

When it comes to finding ways to create wealth, remember this: diversify, diversify, diversify. This concept enables you to spread your wealth through various investments. In other words, don’t put your eggs in one basket. In our first-time homeowner analogy, this would be your top floor. This is where you put your money to work in order to create a higher ROI. 

Whether you’ve already started or you haven’t started at all, know that it is never too late to start your financial planning or to rethink your current finances. Financial freedom is the optimal goal here. It is to help you not fall into debt or bankruptcy. It is to give yourself and your children the future you deserve through the resources that are available to you. If you need help with financial planning, there are financial educators who are willing to help. 

Want to start your wealth-building journey?

Apply to work with me for 12 weeks through my private Viva La Investing Financial Coaching or check out our Financial Wellness Workbook to get started.

Check Out Our Podcast Episode About Building Wealth as a First-Gen.

Episode 2: How Challenging Your Money Beliefs Can Help You Start Building Wealth

Episode 3: Why Building Wealth As A First-Gen Latina Matters 

Share on Social

Related Posts

5 Ways to Spring Clean Your Finances
How to Launch a Copywriting Business Using Your Teaching Skills
Why Over Saving Money Is Keeping You From Building Wealth

Join us as we break barriers and redefine financial success!

CEO and Founder

What sets Luzy Apart

She is an exceptional, sought-after speaker whose passion for financial empowerment resonates powerfully with her audience. Her presentations left a lasting impact on the community, with attendees describing it as engaging, empowering, and providing clear actionable steps.


What sets Luzy apart is her ability to demystify complex financial concepts, making them easy to understand and incredibly engaging. Attendees have expressed gratitude for her tailored content that addresses their unique identities, creating a relatable and inclusive learning environment.

Join the Newsletter

Cash Libre

Weekly money tips and resources to help you save, pay off debt, and invest without sacrificing joy!

Templates, Trackers, Plans, Resources +Investing & Mortgage calculators and more!

Join us as we break barriers and redefine financial success!

Follow us on Social Media