If you have ever wanted to take your Forex game to a new level and trade like a Pro, then this interview with b.luxe.co is the one for you. We chat to founder, Krystal in our latest #MoneyMoment. Find out all about the importance of education and the cash flow quadrant in our interview! There are LOTS of juicy nuggets in this interview (if we say so ourselves)
What is the mission of your b.luxe.co?
With over 1,000 members in our investment group, we support leaders who desire to build their legacy for generations to come. We do this through: Empowerment with our direct personal development mentorship with Bob Proctor and guest speakers. Educational products and services that provide results within your first week, as well as Entrepreneurship through mentorship from top leaders in the industry that coach you on building a business.
If you were to tell us one high and one low of your financial journey so far, what would they be?
The low of my financial journey was my lack of education in regards to financial planning and preventing debt. This naivety showed it’s grimy teeth when I merged finances with an ex whom I thought I’d be with for the rest of my life. I was young and in love and had to learn some very crucial lessons that allowed me to blossom into the woman I am now. I am also a social advocate for providing resources for women who are rebuilding their lives from decisions similar to what I made in mine.
The high of my financial journey would absolutely be embarking on the opportunity that is Forex and having a savings plan. After leaving my relationship, I was in heavy debt alongside my student loans. Learning how to invest, coupled with budgeting has allowed me to decrease my debt and step into financial freedom.
What’s your first money memory?
My first money memory would be earning money from getting an honour roll report card. My mother taught me my first money lesson and that was “good grades equal money”. It absolutely gave me all the motivation that I needed to excel in my education. I had big dreams and knew that with my grades I’d become successful. She was right!
What is one thing you would tell your younger self about money?
I would tell my younger self to Save👏🏾Your👏🏾 Money👏🏾 Sis👏🏾!! I would also tell myself to educate yourself (or would it be myself lol) on how to invest and allow your money to work for you. The cash flow quadrant teaches us the four areas of producing income. They are: an employee (you have a job), a business owner (you own a system), self employed (you own a job), an investor (your money works for you). We teach you how to produce from two out of the four areas within the quadrant.
Tell us your favourite forex tip
My favourite forex tip would have to be you must have patience within the market. It is true when they say that patience is a virtue. Allow the market to come to you. You do not have enough money to move the market.
I must tell you one more because in actuality they go hand in hand.
Never ever over leverage your account. Too many new forex traders hop in the market learn a thing or two and say I’m ready to risk it all let’s get rich today! They soon find out that this is an act of greed and a lack of patience that leads to a blown account. A small percentage increase is always better than no gain at all (over leveraging). You must think long term for your finances as in Forex we show you how to compound your interest each week!
If you could do a Ted Talk on the one topic you were passionate about, what would it be and why?
Wow, I love this question! I’m a big fan of a Ted Talk. I would speak on the topic of Belief. My life has not been a crystal stair. This has always been a quote that tickled me since it’s also my name. Sure, I’ve had my share of joy and excitement, but like many of you I’ve also endured many rough patches as well. Life gave me lemons and not only did I make lemonade, but learned how to serve it as well. Endurance is great, but learning how to serve one another exemplifies true leadership. My belief system and the faith that lives within has been the glue that kept my mind clear and my heart centred along this journey. It’s imperative that we support one another and grow together.
Could you give us a day in the life of your typical spending?
Typical spending days for me are first led by the percentage rule: 50% on bills, 30% on expenses, 20% on savings. I’m an entrepreneur and must admit that a lot of my fun purchases are for my business. I may treat myself to products such as coffee from Community Coffee or to my favourite hairstyle, Senegalese Twists. I’ll occasionally dine with family and friends at various restaurants. At this time my expense overflow goes towards my debt, as I am now wiser and therefore make wiser decisions.
We loved speaking to Krystal and can’t wait to see more of the amazing stuff b.luxe.co do!