Shang Saavedra, the accomplished founder of Save My Cents, has worked for Seven years on Wall Street, honed her skills at Harvard and the University of Chicago Booth School of Business, and is now a financial coach dedicated to transforming the financial futures of her clients.
Off the clock, Saavedra extends her commitment to finance as a philanthropist, making financial literacy accessible to those who may not have the means. Her work highlights her dedication to fostering an atmosphere of financial wellness and inclusivity.
In her advice, Saavedra notes that wise financial management is not about stinginess, but smart spending habits. She suggests not shopping while hungry, staying aware of stress levels to avoid impulse buying, and having a clear knowledge of income and expenses to make more informed spending choices.
Another of Saavedra’s strategies is a 24-hour hold period on purchases, allowing time to reconsider unnecessary spending. She encourages thorough research on products, reading long-term user reviews, and creating a shopping list in advance to stave off impulse buying.
Critical of social media influencers, Saavedra cautions against easily swayed buying decisions. She advises customers against relying on brands promoted by influencers and instead, urges them to do personal research on products, check customer reviews, and ratings before purchasing.
Saavedra’s financial management approach is founded on the ‘abundance mindset,’ a belief that cultivating specific habits and patterns around money can alleviate financial stress and contribute to a more satisfying life.
Dashia Milden from NestAdvisor and Courtney Johnston, a seasoned editor in financial journalism, echo Saavedra’s sentiments, calling for making informed financial decisions and inclusivity in the finance sector. They aim to amplify Saavedra’s insights and the broader objective of financial literacy for all.
