10 Principles of Wealth Building for Ambitious Women

When I started building wealth, I thought I just needed to work harder, save more, and pray the rest worked out. But the more I earned, the more confused I felt. And I had certifications, financial services licenses, and all of the experts around me I could find. It's taken me a long time to realize that there are principles and strategies we need to build wealth. We need a framework that shifts us from survival mode into execution and growth.

Today, I'm sharing these principles so you can stop guessing and start growing. Welcome to Money, Legacy and Her. The podcast where ambition meets action and wealth is built with receipts. I'm your host, Therese Renee. Every week we break down the real money moves, mindset shifts, and bold strategies ambitious women need to create legacy on their terms.

This isn't hustle culture, Welcome to the 10 principles of wealth building for ambitious women. I'm Darice Renee and I'm here to help you think differently about money, wealth and legacy. If you're tired of playing it safe or just surviving financially, it's time to change your mindset and take bold action. These principles are more than just advice. They're guideposts designed to help women like you build wealth with purpose and confidence.

So what can you expect? We'll break down each principle, why it matters and how to apply it practically in your life. By the end of this guide, you'll have a clear actionable blueprint for building wealth your way. So who am I? I'm Darice Renee and I'm on a mission to help women like you build wealth.

I myself am a first generation wealth builder, a real estate investor, a business strategist, and the founder of a phenomenal community that we call Build Wealth Your Way. We started in 2023 and it has evolved and I'm so proud to be a part of it. Here's the thing, I know what it's like to navigate the challenges of creating financial security without a roadmap. That's why I'm passionate about equipping women with the tools, the mindset, and the confidence to build, grow, and protect their wealth. I have spent years guiding women through the process of owning their financial futures, whether it was through smart investments, real estate, building legacy businesses, or just simply shifting their mindsets from surviving to thriving.

And one thing I've learned is this, wealth isn't just about what you have, it's about how you think, how you act, and how you build, as well as who you surround yourself with. This audio guide is all about breaking down the 10 principles of wealth building, principles that will challenge the status quo and empower you to make bold financial move. Let's get started on your journey to wealth and legacy. You're in the right place and I'm here to walk with you every step of the way. Let's dive into the first commandment.

Principle number one, ownership over everything. Renting wealth building tools, whether homes, businesses, or knowledge keeps you dependent on your income streams, your investments, and your intellectual capital. Here's why it matters. Ownership is power. So when you own your income streams and your assets, you control your financial future.

Renting, whether it's your living space or your business space or your skills means someone else holds the keys. At our very first Build Wealth Your Way event in 2023, I had an expert on the panel. She was a realtor who specialized in working exclusively with women going through divorce. She helped them start over and in most cases they had to rebuild their lives, needing to give up their homes for which most of us is our largest asset. Here's how you should take action.

Start by evaluating your assets. List three areas where you can shift from dependency to ownership in the next month. Look for low hanging fruit. And as a reflection question, what area of your life or finances are you currently renting, whether it's physical, financial or intellectual that you can move towards owning? If you had to choose one area of your life to take full ownership this year, what would it be and why?

Principle number two, cash flow is queen. Net worth looks good on paper, but if your money isn't working for you, you're still working for money. Wealth isn't just about what you own, it's about what pays you. Here's why it matters. It's easy to feel wealthy when your net worth is high, but without liquid cash flow, your financial security is fragile.

The goal isn't just to look rich, it's to live comfortably even in tough times. This happens a lot with the boutique owners that I coach. They have a booming business, but their income is mostly tied up in inventory. So if sales dip, some of them can't cover basic expenses. Having consistent cash flow becomes of significant importance in those environments.

So to take action, identify your top three cash flow sources. How can you increase them or diversify them in the next quarter? Principle number three, saving a loan won't save you. Stashing cash in a savings account won't build wealth. Investing it strategically will.

Most of us are taught to save diligently, but saving alone doesn't make your money grow. With inflation eating away at cash's value, savings that just sits in a bank account actually loses purchasing power over time. So it's of importance to put that money to work. I once worked with a woman some years ago who had diligently saved like over $30,000 It took her years and she felt secure until she realized that her money's value had reduced in buying power. So she watched her savings barely grow and compared to friends who invested, she understood where the mistake was made.

Realizing this, she took a leap and started investing in a small rental property, which soon provided consistent cash flow. Not only did the cash flow happen, the property increased in value as well. It had appreciated. So your task is to identify a portion of your savings that you can allocate to investments. Start smiling if you have to, if you're nervous.

Whether it's a low cost index fund or some kind of micro investment platform, begin with just 10% of your savings and track its growth over six months. If this really truly is difficult for you, then I suggest you start thinking about working with a financial coach or someone who is trained in financial trauma. This is a real thing. Most of us have not been diagnosed and it's totally okay to go and get help, but relying on savings at the end of the day as your financial strategy is not going to help you in the long run. Principle number four, your job is not your legacy.

Paychecks keep the lights on, ownership turns them into floodlights. So build something that outlives you. Here's why it matters. Relying solely on a job to build your wealth, put your financial future in someone else hands. True wealth comes from creating assets that generate income whether you're working or not.

And we know this. We see it every day now on the news. People are loyally working for companies and governments who can lay them off at any moment. They're building careers, not legacy. So take energy to invest in a side business that can help you weather the storms and ultimately set you up for generational wealth.

Here's how to take action. List three income generating projects or investments you could start outside of your job. Prioritize the one that excites you the most and commit to dedicating just two hours a week to it to start. Principle number five, debt can be a weapon or a wound. Credit can create leverage or leave you bleeding.

Learn the difference before you borrow. Here's why it matters. Not all debt is bad. Strategic debt can help build wealth while uncontrolled debt can cripple it. Understanding the difference between productive and destructive debt is key to financial security.

This is something that I learned about as a real estate investor early on. I knew a business owner who used a line of credit to purchase a rental property. When we started over twenty some years ago, it was very common to tap into home equity loans or lines of credit to buy rental property. The cash flow from tenants, typically if you've done the due diligence and understand numbers, will cover the payments turning that debt into a wealth building tool. On the other hand, if you are using those lines of credit or loans instead to rack up credit card debt for lifestyle expenses, well, that's just going to lead to stress and financial strain.

One debt builds wealth while the other drains it. So to take action, take inventory of your current debts. Prioritize them as productive, like real estate or business loans, or destructive, like high interest credit card debt. And then you'll want to make a plan to eliminate or consolidate destructive debt first. And please keep in mind, we've all been there.

Some of us are still there. There's no judgment to be passed. This guide is all about putting the power in your hands. Number six, what you keep matters more than what you make. High earners can still be broke.

If you don't master money management, more income just means more expensive mistakes. We've seen this. I call it the new money problem. When you are from a household that has struggled with money, pick and choose how to spend money, and you finally get your hands on it, you're not necessarily equipped to manage it. And that is all right.

We're not taught this information in school, but here's the thing, income doesn't equal wealth if it slips through your fingers. So budgeting and intentional spending can protect your financial growth. I once consulted with a woman, a business owner who made 6 figures, but constantly felt broke. Why? Because every penny that she brought into her household went to her lifestyle upgrades, bigger house, luxury car, expensive vacations.

It wasn't until she started tracking her spending that she realized she was losing her hard earned wealth to lifestyle inflation, and that's real. So here's the step. Create a simple budget. Track your spending for thirty days and identify where your money leaks out. Implement a pay yourself first strategy and automate some of that money to go into savings and investments before discretionary spending.

I'm never going to be of the camp that you can't have the latte because the truth of the matter is, is that latte is not necessarily stopping you from building wealth. However, the behavior of the latte, that that's something to think about. What is the spending replacing for you or taking room away from? Here's a reflection question. Are you tracking where your money goes each month or are you focusing solely on making more?

Number seven, a broke mindset builds a broke bank account. Scarcity thinking sabotages wealth building. If you're afraid to invest, you'll stay stuck. Here's why it matters. Your mindset shapes your financial decisions, period.

We can argue about it. We can debate it, but it is the truth. When you view money as scarce, you make fear based choices that limit your growth. One of my clients once shared how she never invested because her parents constantly feared losing money. So she held onto cash, just accumulating it.

Needing to break that mindset, she started with very small investments so that she could build her confidence as she saw her money grow. And I applauded her so much because although the amounts that she started with were nearly insignificant, it was enough for her to make progress and to be able to show herself what was possible. So here's how you'll wanna take action. Identify one limiting belief you have about money. Challenge it by taking one small financial risk, like investing a small amount in a low risk portfolio.

And here's a reflection question. What stories or beliefs about money did you grow up with that may be holding you back today? Principle number eight. Generational wealth starts with one bold decision. Be the first in your family to shift from survival mode to strategic wealth building.

Someone has to start, why not you? Here's the thing, breaking the cycle of financial struggle requires courage. Someone has to be the trailblazer who changes the narrative. And if you've never seen it in your household, it's hard to take hold of it. It's hard to imagine.

In the real estate world, one of the ways that a lot of people get started in building generational wealth is through something called house hacking. It's a common strategy where you buy a duplex or even a triplex instead of a single family home and you live in one unit while renting the others. It can quickly transform your net worth, especially when it's coupled with other strategies. And most importantly, it can quickly improve your family's wealth status for generations. So here's what I challenge you to do.

Identify one bold financial move you can make this year, whether it's buying a property, launching a business, or investing in your financial education. If you can't dream big enough or you don't have anyone in your immediate circle that's making bold wealth moves, then it's time to level up. Iron sharpens iron, and if you're the smartest person in the room, then you're in the wrong room. So here's a question for you to think about. Who in your family or community can benefit from seeing you take that bold step?

Principle number nine. Wealth is built in community, not in isolation. Surround yourself with ambitious like minded women who challenge, support, and inspire you. You don't need permission to build wealth, but you do need the right circle to sustain it. It matters.

A supportive community is gonna keep you accountable, keep you inspired and keep you resilient. And the key word is supportive. I personally have had the absolute pleasure and honor of being in community with some of the baddest, most generous and most intelligent women my entire time on the planet. There is no success I can point to that wasn't tied to a relationship with a woman who held my hand, cheered me on, or gave me tough love. And because that's been my experience, I know how to cultivate it and I want that for every woman I know.

So here's your job. Seek out a group of ambitious women to build with. Join a community where wealth building is a shared mission. Principle number 10. Wealth favors the action takers.

Reading, planning, and wishing won't make you rich. Execution does. It matters. Bold action separates dreamers from doers. Wealth builders take risks, they make moves and they learn from their mistakes and they get better.

Between my business networks and my real estate investment clubs, I'm around dreamers every day. Between my business networks and my real estate investment clubs, I'm around dreamers every day. In the span of the last three years, I have acquired and disposed of seven real estate investments through either my own portfolio or with partners. In the same span of time, I know four women personally that have only talked about investing. They've attended meetings, they've gone to workshops, they've been in training, they've read books and followed all the experts on social media and yet nothing.

So here's what I would challenge you to do. Identify one action you can take today, no matter how small to move you closer to your financial goals. And here's a reflection question. What's holding you back from taking that action today? How can you overcome it?

You've just heard the 10 principles of wealth building for ambitious women. These principles are more than just ideas. They're foundations for creating financial independence, building a legacy and living life on your terms. But here's the thing. Wealth building does not happen in isolation.

It's easier, faster and way more powerful when you surround yourself with like minded women who are on the same journey. Before you go, let me ask you this. Do you actually know your path to wealth? Because every woman's journey looks different and your next move depends on where you are right now. Take my free quiz, what's your path to wealth and find out whether you're a legacy starter, a builder CEO, a visionary investor, or momentum maker.

It only takes three minutes and you'll get a custom roadmap to start building wealth your way. Head to quiz.dereserenay.com that's quiz.dereserene.com and let's get your results. And that's a wrap on this episode of Money, Legacy and Her. I hope you're walking away with the insight and the fire you need to take your next bold step because when women build wealth, we shift generations. If this episode spoke to you, subscribe, rate and leave a review.

It helps more women find this movement. Want more? Head to moneylegacypodcast.com to get connected and grab tools to support your legacy journey. This is Darice Renee signing off. Stay focused, stay powerful and keep making money moves with purpose.