Stewardship and Building Wealth: Insights from Ray’Chel Wilson | Ep. 340
In This Article
Stewardship isn’t just a buzzword; it’s a philosophy that can transform every area of our lives from our personal well being to our financial health. On a recent episode of “Money Talk With Tiff” Tiffany Grant had the pleasure of interviewing Ray’Chel Wilson, a personal finance educator behind the Black Wealth Freedom series. They talked about what stewardship really means and how internal stewardship leads to external abundance. This post summarizes their conversation and the 4 pillars of wealth building that were discussed on the podcast.
What is Stewardship?
Internal Stewardship
When we hear the word “stewardship” we think of money or resources. But Ray’Chel Wilson says it’s broader than that. She defines internal stewardship as taking care of what we’ve been given, our bodies and surroundings. She says this is rooted in the idea that our bodies are temples and we should treat them with the utmost care.
Being a preacher’s kid definitely influenced her holistic approach. She says taking care of our bodies allows us to do more good for others. This means nourishing ourselves with the right vitamins and minerals, exercising, and taking care of our mental health. Self care isn’t selfish, it’s an enabler that allows us to extend our stewardship beyond ourselves.
External Stewardship
External stewardship is our interaction with the community and the world around us. This includes how we manage our financial resources and how we interact with institutions and ecosystems. Ray’Chel’s definition of stewardship encourages us to think beyond ourselves and how our actions and decisions impact the larger community.
For example being a good steward of our finances means not only managing our money well but also using it to support causes and institutions that align with our values. This could mean donating to local charities, investing in community projects or contributing to sustainable initiatives.
The 4 Pillars of Wealth Building
One of the most helpful parts of the podcast was Ray’Chel’s breakdown of the 4 pillars of wealth building. These pillars are the foundation of her Black Wealth Freedom series and a holistic approach to financial freedom.
1. Healthy Money Mindset
The first pillar is all about mindset. Ray’Chel says our experiences with money as children can impact how we handle it as adults. Many of us have had negative beliefs about money from a young age. Healing from those scarcity mindsets is key to financial success.
A healthy money mindset means recognizing those limiting beliefs and actively replacing them with positive ones. It’s about seeing money as a tool to help us achieve our goals not an invincible force that controls our lives.
2. Value-Based Budgeting
The second pillar is value-based budgeting. While traditional budgeting is about tracking income and expenses, value-based budgeting takes it a step further. It’s about aligning our financial decisions with our values.
For example if family is a value then our budget should reflect that through spending on family activities or provisions for family support. If education is a priority then our budget should include investments in educational resources or courses. This way our spending habits contribute to what we value most in life.
3. Upskilling for Higher Earned Income
Upskilling is the third pillar and is for anyone looking to increase their income. Ray’Chel stressed the importance of continuous learning and adaptation to new opportunities. With over 75% of jobs in 2030 not yet created it’s clear we must stay ahead by upskilling.
Whether it’s gaining proficiency in new technologies like AI and machine learning or skills relevant to our industry upskilling can open doors to higher income opportunities. As Tiffany Grant shared in the podcast overcoming her fear of SEO and learning about it grew her business.
4. Investing for Wealth Creation
The last pillar is investing for wealth creation. After we have a healthy money mindset, value-based budgeting and upskilling the next step is to invest. Ray’Chel shares different investment options like the stock market, index funds, ETFs, real estate and even personal businesses.
Investing smartly helps us grow our wealth and create a stable financial future. It’s about making informed decisions that align with our long term financial goals and using our resources to build lasting prosperity.
Financial Education
Ray’Chel Wilson’s work as a personal finance educator especially through her Black Wealth Freedom series has reached a global audience. Her series has empowered thousands by providing holistic and relevant financial education. One of the key takeaways from the podcast was the importance of financial literacy for stewardship and wealth.
Financial education helps us know how to manage our resources, make informed decisions and create strategies to achieve our financial goals. Programs like Ray’Chel’s Black Wealth Freedom series provides the knowledge and tools for financial empowerment.
Conclusion
Ray’Chel Wilson’s approach to stewardship and wealth building is a step by step guide to financial success. By internal and external stewardship, healthy money mindset and the four pillars of wealth building we can live an abundant and prosperous life. Programs like the Black Wealth Freedom series and tools like the upcoming “For Our Last Names” app can be a big help on this journey. As we continue to learn and grow let’s not forget the core of stewardship: taking care of what we have been given to improve our lives and the world around us.
FAQs: Stewardship and Wealth Building
What does stewardship mean in personal finance?
In personal finance, stewardship involves managing your financial resources wisely and responsibly. This includes budgeting, saving, investing, and making financial decisions that align with your values and goals.
How can I develop a healthy money mindset?
Developing a healthy money mindset involves recognizing and addressing negative beliefs about money, setting positive financial goals, and viewing money as a tool for achieving your aspirations. Engaging in financial education and seeking guidance from financial experts can also help.
What is value-based budgeting?
Value-based budgeting is a financial planning method that aligns your spending and saving decisions with your core values. It ensures that your budget reflects what matters most to you, whether it’s family, education, or community support.
Why is upskilling important for financial success?
Upskilling is important because it helps you stay competitive in the job market and open to new income opportunities. Continuous learning and improving your skill set can lead to higher earning potential and better career prospects.
How should I start investing for wealth creation?
Starting to invest involves understanding different investment options such as stocks, index funds, ETFs, real estate, and businesses. Ideally, you should seek advice from financial advisors and start with investments that align with your financial goals and risk tolerance.
About Our Guest
Ray’Chel Wilson is not your regular teacher. She is a self proclaimed Teacher 2.0, challenging the norms of education and what it means to teach the whole person.
Honored as one of the top “20 Under 20” teachers across the state of Oklahoma for excelling on the front lines of the classroom, Ray’Chel finds educating about holistic financial wellness and closing the racial & gender wealth gaps, as a central part of her mission.
Originally from Ohio, Ray’Chel moved to Black Wall Street, Tulsa, in order to teach high school biology to over 500 students and counting, while also blazing her own path to wealth as a first-generation entrepreneur. After achieving huge financial milestones, like leveraging cryptocurrency profits to pay off her undergraduate student loans, Ray’Chel birthed Raise the Bar Investments.
Mentioned Resources
Ray’Chel Wilson Contact Information
Email: info@ourlastnames.io | admin@raychelwilson.com
For Our Last Names Website: https://forourlastnames-io.ck.page/sign-up
Black Wealth Freedom Series: https://rtbinvestments.org/products/black-wealth-freedom-series-3-book-bundle
