Managing Money, Ethical Investing, and Financial Abuse: Insights with Amanda Cassar

In this interview, financial advisor Amanda Cassar shares valuable insights on managing money, ethical investing, and the issue of financial abuse. As an author, podcast host, and global traveler, Amanda's experiences and expertise shed light on practical approaches to financial well-being. Let's explore the key takeaways from the conversation.

1. Follow Your Passion, Manage Your Money: Amanda emphasizes that pursuing our passions is possible when we manage our money effectively. Just as we prioritize watching our favorite TV shows or indulging in entertainment, we can allocate time and resources for travel and new experiences. With the vast resources available on the internet, it's easier than ever to find great deals and plan adventures without breaking the bank.

2. Financial Management for Various Life Stages: Amanda highlights the importance of financial management for different scenarios. For individuals with significant wealth but lacking appropriate financial advice, seeking professional guidance can be pivotal. Those with moderate incomes can focus on finding the right avenues to grow their money and build long-term security. Meanwhile, young individuals starting out in life should learn basic budgeting skills to understand their expenses and explore opportunities for investment.

3. Ethical Investing and Personal Values: The conversation delves into the significance of ethical investing and aligning investments with personal values. Amanda stresses the need to make informed decisions, considering the impact of investments on various social and environmental aspects. She recommends researching reputable investment companies and platforms that provide information on the ethical practices of different investment options. By consciously investing in companies that align with our values, we can contribute to positive change while growing our wealth.

4. Financial Abuse and Awareness: Amanda addresses the issue of financial abuse, which involves exploiting another person's assets or income to benefit oneself. It can occur within families, relationships, or as a result of manipulation by caregivers or neighbors. Recognizing the signs of financial abuse and having open conversations about it is crucial. Amanda encourages individuals to support friends or family members who might be experiencing financial abuse and emphasizes the importance of reporting any concerning situations to protect the victims.

5. Balancing Present Enjoyment and Future Security: Finding a balance between enjoying the present and securing the future is a common challenge. Amanda advocates for making memories and experiencing life to the fullest while ensuring long-term financial stability. By understanding the concept of compounding interest and making wise investment choices, individuals can grow their money over time. It's crucial to strike a balance between enjoying today and saving for retirement to avoid regrets and missed opportunities.