The Digital Financial Future

The digital future is something I spend much of my time thinking about. Well, between Broadway plays and breastfeeding that is (FYI: I recently won two Tonys and gave birth to a little girl all in a 45 day period!). Since most everything digital is within my wheelhouse, I was thrilled to be asked to speak about the digital future at the Real Estate Wealth Expo this weekend in Edison, New Jersey.

Also speaking at the event is Shark Tank investor, Robert Herjavec, self-help guru, Tony Robbins, and my favorite financial expert, Suze Orman. A few years back, Suze was one of my guests ‘Dot Complicated with Randi Zuckerberg’ where she discussed how working with a novice financial advisor lost her the $50,000 she had raised to open a restaurant which lead her to taking control of her own finances and becoming the one-woman financial powerhouse she’s known as.

So in honor of our digital financial futures, here's some solid advice from Suze Orman:

FICO. As Suze Orman always says, “FICO first, then sex.” If you want to be a healthy relationship, your FICO scores matter. Credit card debt needs to be eliminated and on par with your partner’s. The most reliable place to check you score is MyFico. And if you’re mortgage shopping, make sure to only have it every 2 weeks minimum so you don’t get dinged.

ROTH IRA. If you don’t have a 401k program with your employer, set up your own Roth IRA. As Suze says, saving on the cost of investing is one of the most effective ways of making money. So use a discount brokerage firm like Ameritrade or a no-load mutual fund company like Fidelity, and with a small initial minimum you can watch your savings soar!

 FAMILY AFFAIRS. Make finances important to everyone who lives under your roof. Be honest with your kids about what it costs to leave that light on. Suze recommends having the entire family older than the age of 6 present for bill paying so they learn fiscal responsibility. Apps like Bankeroo and Savings Spree teach budgeting while allowing for savings goals at the same time.

 MANAGING RISK. It’s already risky enough to start your own business so Suze recommends never using your own money to fund it. Rather than spending your inheritance or savings, investors have the money to spend on great ideas. Places like Kickstarter or Indiegogo allow other people to invest in your dreams.

 EDUCATE YOURSELF. It’s never too late to change bad habits. Take free financial courses on how to invest, buy a car or buy a home at SuzeU. Walk in knowing your worth before asking for a raise using Payscale, the largest salary database in the world. Or just manage your money from one place like the budgeting app, Mint.

Want to learn more about financial wealth for startups? Sign up for Zuckerberg Institute and learn how to fundraise like a pro with mentors like me!