WSP x Bank of America Pt.1 / by Brandon Bryant

Hey guys hope all is well. I am happy to announce my partnership with Bank of America introducing the Better Money Habits site, a resource of articles that can help you think smarter when it comes to money. I will be talking about my experiences with planning my finances over the past few years. In the last 5-6 years, I have been a college student, worked in corporate America and am now a budding entrepreneur who is building out a team of employees.

So, I think it’s easy to say that I have been around the block and can talk about a few wins and losses to help you stay financially fit. The world truly works in mysterious ways and the best way to be prepared is to plan ahead!

Now, back to our regularly scheduled program. Our focus will be on quick tips you can start implementing today that will impact your finances in a positive way. Let’s jump right into it!

  1. Create Your Budget

    1. Know your take-home income (not your salary) this is the amount of money you receive after taxes, insurances and more is taken out of your check

    2. List all of your monthly recurring expenses and add in large purchases when needed

    3. Use Bank of America’s Goals Tool to set financial goals you would like to hit (i.e. save an extra $5,000 by end of year for a vacation, new couch, or add to my emergency fund). You can find this in their Mobile Banking app!

    4. Last step is to check in + update that document every month (usually the last week)

  2. Focus on Building a Strong Credit Score

    1. Remember, no credit is bad credit. So you have to spend, but make sure to spend wisely

    2. Easy way to build credit is by paying recurring expenses with your credit card (streaming services, electric bill, rent, etc.) set these to automatic and you will be building great credit in no time

  3. Start Saving ASAP

    1. I know it's a hassle and a stress to save. 65% of American have little to no savings, don’t let this be you (site: CNBC)

    2. So make your saving automated. Create automatic transfers from your checkings to savings account each month (as little as $200 is a great start)

    3. Also if you have a 401K increase the annual contribution and you will thank me later :)

In addition, I have a quick testimony from implementing these tips into my life. During my time in corporate America I honestly worked so much that I didn’t have time to even spend any money. So I just planned to save as much as possible for a “rainy day”. Wish I had the Bank of America’s Goals Tool back then so it could have helped me track my savings. Well that rainy day came much sooner than expected. As I was making the leap of faith into entrepreneurship, I was at ease because I had been putting extra pennies into my bank account and was a hound dog on my credit score (I tend to request for credit limit increases on my cards every chance I get) this helps with your utilization rate and can boost your score.

Lastly, this is the time I really started to create a budget to understand where all my hard earned cash was going, with the help of Bank of America’s Spending & Budgeting Tool which showcases all my expenses. This is located in their Mobile Banking app, just select Spending & Budgeting in account details! With this, I pulled the plug on a ton of unnecessary services and products. I knew my limits + boundaries for spending and that brought a sense of peace during a stressful time of not knowing what tomorrow was going to bring as an entrepreneur.

Hope today’s post was helpful and that you are now in the position to become more financially fit! To keep the momentum going, use the Better Money Habits site to keep learning and growing. There’s no such thing as knowing too much when it comes to your finances.

Post Details

Photographer: Mark Asuncion (@moodbymark)

Location: New York

In partnership with Bank of America


Let me know your thoughts on the photos, until next time!

Thank you for reading and Let Your Voice Be Heard Below!!