If there was ever a time when we needed advice about our finances, it is now. Covid-19 has upended our lives, to say the least, and so many people are struggling financially because of it. The nationwide lockdowns closed businesses and multitudes have lost their jobs.
To help navigate what may be treacherous waters for many when it comes to personal finance, today on the Rules of Thumb blog from MoneyThumb we are sharing below 5 money experts to follow who will help guide you concerning your finances. We've been careful to include more than just the usual suspects like Dave Ramsey and Suzie Orman to make sure the guidance you receive is not regurgitated:
Danetha Doe--“Doe is a personal finance expert.” -Wall Street Journal and Fast Company. Her work has been featured in Entrepreneur, Elle, The Chicago Tribune, Cosmopolitan, NBC, and more. Danetha Doe has one mission: to elevate the self-worth and net worth of women. Doe is a Jamaican-Ghanaian money mentor, writer, entrepreneur, and the creator of Money and Mimosas, a financial well-being resource and social club for influencers, bloggers, and creatives. The San Francisco-based personal finance expert also starred in the web series “Going From Broke,” produced by Ashton Kutcher, which got over 12 million views in its first season, according to her website.
Jully-Alma Taveras--Also known as Investing Latina, Ms. Taveras shares personal finance tips and tricks through her YouTube channel and Instagram account. In her videos, Taveras speaks about her own financial journey (she’s the daughter of immigrants from the Dominican Republic), how anyone can become an investor, and topics such as budgeting, saving, and relevant financial news. She’s also a contributor to NextAdvisor—check out her latest story, where she shares how she calculated her “survival number” of $581, which represents the bare minimum amount of money she needs to get by each month. She includes a downloadable spreadsheet to help you calculate your own survival number.
Erin Lowry--Helps millennials “get their financial lives together” by offering advice on how to make more money, get out of debt, and build savings. Through her “Broke Millennial” blog, books, lectures, and workshops, Lowry tackles questions like whether you should share personal financial information with your partner and how to manage student loan debt after college. She’s also a contributor to NextAdvisor and offers advice on how much to save for retirement in uncertain times. “Whatever your nest egg goal, this shouldn’t be a ‘set it and forget it’ situation. You need to check in on your goal as your life changes,” Lowry writes.
Jill Schlesinger--A certified financial planner and Emmy-nominated business analyst for CBS News. She regularly appears on CBS radio and TV stations across the country and is the host of the “Jill On Money” podcast and nationally syndicated radio show. Schlesinger has a talent for breaking down complex personal finance ideas and topics into understandable, relatable themes. She not only tells you what you’re doing wrong and how to fix it—she tells you why, too. She’s recently written an article for NextAdvisor about the importance of having a will and other essential estate planning documents in place during the pandemic, and has also shared her thoughts on mortgage forbearance options, refinancing, and how much you should have in savings.
Ramit Sethi--A New York Times best-selling author and founder of iwillteachyoutoberich.com, which focuses on strategies for investing and earning more. Sethi doesn’t believe in saying “no” to spending on everything, so he won’t shame you for buying lattes or avocado toast. Instead, he encourages big-picture thinking—moves like getting a raise or starting a side hustle that can have a transformational approach on your wealth. Sethi teaches readers how to make financial choices that align with what they value most, so his definition of “rich” is subjective. He spoke to NextAdvisor about the importance of having an emergency fund--he recommends saving three to six months of expenses during non-pandemic times and a year’s worth of expenses given the current pandemic and financial crisis.
We hope you get a lot of great financial advice from the above-listed finance experts. We would appreciate it if you could share this blog post on your social media page so that your peers can benefit from the information. Also, don't forget that MoneyThumb has a PDF financial file converter specifically designed for home use and personal finance maintenance.