The Great Recession of ‘08 was a difficult time as millions of hardworking people lost money and wealth. This week’s Dreamer, Sahirenys Pierce, Founder of Poised Finance and Lifestyle’s family was one of them. Her parents lost most of their investments and earning during those dark times.
But she did not let this challenging time define her life. Instead, she did everything possible to improve her finances and, in the process, developed a system that will eventually help thousands of people achieve financial stability.
The High 5 Banking Method enabled her to strategize about her family’s finances through classifying her expenses and identifying financial goals, all while performing the balancing act of being a mom and a successful entrepreneur. Through her signature method, Pierce is able to enjoy what she’s working hard for and at the same time prepare for the unexpected.
In this episode, Sahirenys Pierce discusses:
- Challenges and biggest money lessons learned from the 2007 recession
- The High 5 Banking Method To Manage Your Finances
- How she paid off $99k of debt
- How to effectively deal with financial trauma
- Why having at least two checking accounts is essential
- The three saving account you should have
- Long-term investing
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Dreamers’ Wealth of Wisdom:
- The biggest money lesson I learned in my youth when I was still in high school was that debt sometimes can be used as leverage, but a lot of times for the common person like you and me, it is not really utilized as leverage. – Sahirenys Pierce
- We actually lost our home during ‘08, I realized that just because you can buy a home doesn’t mean you can afford the payments during the good times or the bad times. – Sahirenys Pierce
- A lot of people don’t realize… everything’s good during good times. But then when times get a little rough, they can’t afford the payments anymore- Sahirenys Pierce
- Life happens. It’s good to be as prepared as you can so that you can face these difficult situations when they happen, as opposed to being in debt and getting into even more debt to get out of that situation – Anne-Lyse Wealth
- Let’s get it right. You don’t just put money in the account and it just magically gets bigger. You have to put money into account and invest it. And that’s very different from an actual savings account or a checking account. You’re not really investing the money. It’s there waiting for you to spend the money. – Sahirenys Pierce
- They have no idea that you could have multiple savings accounts to have a purpose. They have no idea about these different strategies because back home they manage everything in cash. – Sahirenys Pierce
- High-five banking method is a strategy to really help you stay out of debt. It helps you budget and also hit your financial goals and stay committed to them.- Sahirenys Pierce
- I think one of the biggest things I’ve learned is to be a little bit more patient with myself. I think they always tell you to speak into existence, the things that you wanna happen, but they also position you into learning those lessons. – Sahirenys Pierce
About the Guest:
Sahirenys Pierce is a millennial Latina mom, financial educator, and founder of Poised Finance & Lifestyle. Where she focuses on helping her community manage their finances and lifestyle with poise. By sharing strategies, like the High-5 Banking Method, the SOP, and the First Aid Kit for your budget. Sahirenys has a background in finance and financial planning, where she worked at Merrill Lynch, Metlife, and Ameriprise. Her poised strategies have helped thousands of women get their finances on point while improving their financial confidence. Not only does she share her systems, but also her own personal experience of paying off over $99k of debt, cash flowing from her wedding, and dealing with multiple family emergencies.
Connect with Sahirenys Pierce:
Connect with Anne-Lyse:
Other Episodes You Might Like:
- How Erika Brown Quit Her Corporate Job to Pursue Real Estate and Purchased 38 Doors in Five Years
- How this Single Mom Retired a Millionaire in Her Forties Without Ever Earning Six-Figures a Year.
- How to Prepare For a Recession
- How Saving and Investment Diversification Can Help Parents Secure Their Kids’ Future with Ksenia Yudina, Founder of UNest
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