Welcome to MAU Talks, a series of empowering conferences held every week at Millennia Atlantic University! In this installment, we are thrilled to present a financial expert and renowned speaker, Arnaldo Castillo, better known as @TanoFinance.
Join us as Arnaldo shares his wealth of knowledge and experience to help you take control of your finances in just 6 weeks. This comprehensive guide will equip you with the tools and strategies to achieve financial freedom and peace of mind. Let’s dive in and discover the secrets to financial success!
About the Speaker:
Arnaldo Castillo is a Venezuelan native, happily married, and a father of three. With a background in Electronic Engineering and an MBA in Business Management, Arnaldo boasts over 18 years of experience in sales and international business. After moving to the United States, his passion for financial well-being led him to become a certified Financial Coach. Arnaldo’s dedication lies in assisting individuals, families, and companies in taking control of their finances, enabling them to pave a clear path toward achieving financial peace.
Professional Achievements:
1. Sales Manager of Technological Products in Latin America:
Since 2007, Arnaldo has excelled as a Sales Manager, collaborating with over 100 companies in Brazil, Mexico, the United States, and Central America. He adeptly develops marketing and business strategies, providing virtual and in-person training to help these businesses increase sales and reach their goals.
2. Founder of IQ Finance-Financial Intelligence for Global Business Community (GBC):
In 2019, Arnaldo established the IQ Finance Academy, a Spanish-language training program designed to educate stock market traders on proper financial management. Over 500 individuals have already benefited from this transformative course.
3. Creator of the Financial Peace Program:
Arnaldo introduced the Financial Peace program in 2021, guiding families to take control of their money in just 6 weeks without requiring them to be financial experts. In 2022, he launched a completely online version of the program, allowing families to organize their finances step-by-step at their own pace and regain financial stability.
Take Control of Your Money in 6 Weeks with Arnaldo Castillo – A MAU Talks Exclusive!
Section 1: Assess Your Current Financial Situation
Begin your journey to financial empowerment by assessing your current financial situation. Arnaldo will walk you through the process of evaluating your income, expenses, debts, and savings using user-friendly financial tracking tools and apps. With optimized SEO keywords such as “financial tracking tools” and “evaluating financial health,” you’ll gain valuable insights into managing your finances effectively.
Section 2: Create a Realistic Budget
Budgeting is a cornerstone of financial control. Arnaldo Castillo emphasizes the importance of crafting a realistic budget tailored to your financial goals. Learn useful SEO phrases like “personal budgeting tips” and “effective budget creation” to enhance the visibility of this section to those seeking financial advice.
Section 3: Reduce Unnecessary Expenses
Unlock the power of financial freedom by identifying and cutting down on unnecessary expenses. Arnaldo shares savvy tips on recognizing and eliminating expenses that hinder your financial growth. By incorporating SEO-optimized terms like “frugal living” and “money-saving strategies,” you’ll discover actionable ways to reduce your expenses.
Section 4: Set Clear Financial Goals
Navigating the path to financial success requires well-defined goals. Arnaldo encourages you to set Specific, Measurable, Attainable, Relevant, and Time-bound (SMART) financial objectives. Employ SEO keywords like “setting SMART financial goals” and “financial goal planning” to elevate this section’s search engine ranking.
Section 5: Establish an Emergency Fund
Prepare for unforeseen financial challenges by building an emergency fund. Arnaldo Castillo explains how an emergency fund serves as a safety net during unexpected circumstances. Optimize this section with SEO phrases like “emergency fund importance” and “creating a financial safety net.”
Section 6: Manage and Reduce Debt
Addressing debt is a pivotal aspect of taking control of your finances. Arnaldo offers effective debt management strategies, including debt consolidation and repayment planning. Integrate SEO keywords such as “debt management techniques” and “reducing debt burden” to boost search engine visibility.
Section 7: Explore Investment Opportunities
Dive into the world of investments to grow your wealth. Arnaldo Castillo presents various investment options suitable for different risk appetites and financial goals. Employ SEO-optimized terms like “investment opportunities” and “wealth-building investments” to attract readers seeking investment advice.
Conclusion:
Congratulations! With Arnaldo Castillo’s expert guidance, you are now equipped with the knowledge and strategies to achieve financial freedom within 6 weeks. Empowered with these steps, you can make informed financial decisions, secure a brighter future, and chart a clear path to financial peace. Don’t forget to follow @TanoFinance on Instagram for more expert insights and tips. Thank you for joining us at MAU Talks, and we look forward to inspiring you with more empowering conferences in the future!
MAU Talk Transcript: How to Take Control of Your Money in 6 Weeks
Thank you to everyone who is here. My name is Arnaldo Castillo. Everyone knows me as Tano Tano Finance, and yes, I am passionate about finance and people. And when these two things came together, obviously part of what we are going to talk about today emerged: how to take control of our money in six weeks without having to be finance experts.
78% of this society, according to statistics and even Forbes, lives paycheck to paycheck. 61% of people, even when they earn a lot of money, cannot cover an emergency of more than $1,000 without going into debt. Now, a very common mistake, and I’m going to say it, is to think that buying on credit is the most convenient way to get the things we need.
We think that if we don’t finance, we won’t be able to buy a vehicle or furniture for our house. And what’s wrong with financing? Well, the bad thing is that when we come to this country, the average cost to finance a new vehicle is around $720. And then we say: “You know what? Renting is throwing money away.”
We don’t want to be renting, so we decide to buy a property and we get into a debt of $1,800. And obviously, we use credit cards and little by little this starts to add up, and then we start to have credit card expenses of about $400. So, what happens? We come to this country with the desire and the will to progress and with desires for freedom.
And what happens? This is how we find ourselves: we start the month, we haven’t produced a dollar, but we already have all these obligations. And that’s how my financial peace program was born. I designed this program when I understood the system, got rid of all my debts, and took control of my money. If there is something I can do today and that I want to invite and inspire you to do, it is to think if what you are doing or the decisions you make today contribute to leaving a good legacy for your children’s children.
And that’s why I wanted to have a system that was proven, that worked, and that presented a clear path on how to navigate it, no matter where you are or what your profession is. And that system is based on seven Baby Steps. The first: I’m going to save $1,000 for a minimum savings fund. Ok, you will say: “Ah, well, that’s nonsense, I have $1,000 in the account.” I congratulate you, 70% of people don’t have it. Second, we are going to pay off all our consumer debts using the Snowball method. The third: build a savings fund of 3 to 6 months. And steps four, five, and six have to do with investing, with starting to do things that can produce money for you.
Then, if we are married, we must start the Savings Fund for our children’s education, pay off our house on time, build wealth, and give generously. So follow me and let’s analyze each of these points in detail. Ok, Baby Step number one: save $1,000 for your minimum savings fund. And I tell those who are watching me: if you don’t have it, focus all your energy on this, it is extremely important.
This step can be quick, but it can also be the one that takes the most time. Why? Because it requires a change, a change in our perspective and in our vision of what we are spending on. If we are used to eating out two or three times a week, we might decide not to do it that week and save those 50, 60, or 70 dollars to build our $1,000 fund.
And where does that change come from? Here, in our mind and in our heart. How can I take this first step? Well, I want to give you four practical, very simple tips. First, sell things you are no longer using and that are in good condition. Everything is sold here, gentlemen, just look at eBay or platforms like Amazon Marketplace where you can sell everything. Obviously, take advantage of your free time to generate income.
Work on what you are good at, think about what service you can offer or what product you can sell and do it in order to reach that goal and gather that money. Of course, you must make a personal or family budget and a food budget, which is usually one of the highest categories in expenses.
Normally, in budgets we reduce what we can, so evaluate what expenses you can cut. These are basic things, but we need to understand before starting the month if what we earn is enough to cover our expenses, because if not, what is going to happen? We will end the month in debt, and that is how many people live in this country.
Each of us must do some introspection and be responsible. Ask yourself: “Do I have what I need? What decisions can I make to adjust my expenses?” And so we start to take control of our money. Baby Step number two: pay off all your debts using the Snowball method. Ok, we already have $1,000 in the account. Perfect.
What is the next thing we have to do? Start eliminating our consumer debts. And I know some will say: “But I have four debts and they are all at zero interest.” Don’t fool yourselves, banks don’t give out credit cards at 15 months
without interest because they are good, they do it because they know that 70% of people will not pay in those 15 months and will end up paying 25% interest.
So, what is the Snowball method? It is a method that consists of listing all our debts from the smallest to the largest, regardless of the interest rate. And we are going to start paying the minimum on all debts, except the smallest one, where we are going to put all our effort, all our energy, and all our money.
And when we finish paying off that debt, we go to the next one, and so on. And why do we do it this way? Because we need to see progress. If we start with the largest debt, it will take us a long time to see progress and we will get discouraged. So, we start with the smallest debt to see progress and motivate ourselves to continue.
Baby Step number three: build a savings fund of 3 to 6 months. Ok, we already paid off all our debts, we have $1,000 in the account. What is the next thing we have to do? Build a savings fund of 3 to 6 months of expenses. And why 3 to 6 months? Because it is the average time it takes a person to find a job in case of unemployment.
And we are going to use this money only in case of real emergencies. What is a real emergency? Losing your job, a medical emergency, your car breaking down, and you need it to work. Those are real emergencies. Going on vacation, buying a new cell phone, or buying a new TV are not emergencies.
So, we are going to use this money only in case of real emergencies. Baby Step number four: invest 15% of your income for retirement. Ok, we already have our savings fund, we have no debts, we have $1,000 in the account. What is the next thing we have to do? Start investing for our retirement.
And why 15%? Because it is the percentage that, according to studies and statistics, ensures that we will have a dignified retirement. And where are we going to invest that money? In mutual funds, in retirement accounts like 401(k) or IRA. And we are going to diversify, we are not going to put all our eggs in one basket.
We are going to diversify to minimize risk. Baby Step number five: start the Savings Fund for your children’s education. Ok, we are already investing for our retirement, we have our savings fund, we have no debts, we have $1,000 in the account. What is the next thing we have to do? Start saving for our children’s education.
And why is this important? Because education is the best legacy we can leave to our children. And how are we going to do it? Through education savings accounts like 529 or ESA. And we are going to start as soon as possible, because the sooner we start, the less we will have to save each month.
Baby Step number six: pay off your house on time. Ok, we are already saving for our children’s education, we are investing for our retirement, we have our savings fund, we have no debts, we have $1,000 in the account. What is the next thing we have to do? Start paying off our house on time.
Why is this important? Because having a paid house gives us peace of mind and financial security. And how are we going to do it? By making extra payments to the principal, not to the interest. Every extra dollar we put in the principal is a dollar less than we are going to pay in interest.
And we are going to do it as soon as possible because the sooner we finish paying, the less interest we will pay. Baby Step number seven: build wealth and give generously. Ok, we already paid off our house, we are saving for our children’s education, we are investing for our retirement, we have our savings fund, we have no debts, we have $1,000 in the account.
What is the next thing we have to do? Start building wealth and giving generously. And why is this important? Because building wealth allows us to live a life of abundance and giving generously allows us to make a difference in the lives of others. And how are we going to do it? By continuing to invest, by continuing to save, and by looking for opportunities to give generously.
And we are going to do it with joy, because there is more happiness in giving than in receiving. So, these are the seven Baby Steps that will lead us to financial peace. And I want to invite you to take control of your money, to live a life of abundance, and to make a difference in the lives of others.
Thank you very much.
Check out the event page: MAU Talks: How to Take Control of Your Money in 6 Weeks, Without Having to Be an Expert in Finance