Ankita Terrell is the CEO and founder of Intentional Money, where she helps her clients make a plan to earn, spend, invest, and donate money, in alignment with their values.

Side hustles are important — they help you diversify your income so that you are not reliant on a single paycheck anymore.

Products by Women
Aug 14 · 4 min read
Ankita Terrell is a money coach. She is the CEO and Founder of Intentional Money, where she helps her clients make a plan to earn, spend, invest, and donate money, in alignment with their values. Ankita’s mission is to empower her clients to manage their money with confidence and ease. She works with clients through their money journey — right from creating a budget and understanding the basics of investing, to investing for good, in causes they believe in. She has worked at various for-profits, non-profits, and BCorps over her career, before settling into the entrepreneurial lifestyle. She has an degree in Economics from Bryn Mawr College, an MBA from Georgetown University and is in the process of becoming a registered investment advisor. She lives in Arlington, VA with her husband. Schedule a free call with Anikta here.

What is your vision and mission with Intentional Money?

My mission with Intentional Money is to enable the socially conscious individual to feel confident and in charge of their money. I do this by helping my clients align every aspect of their life to their values, so they know that their money is working for them, in harmony with who they are and what they care about. I’m here to debunk the notion that making money and being good to the world are at odds with each other. It’s possible to build the exact life you want — make money, to give back to your community, to go on the vacations you want, to invest for retirement — all while being true to who you are.

My vision is to scale the Intentional Money community so that tens of thousands of individuals can earn, save, spend, invest and donate in alignment with their values. My goal is to enable my clients to heal their relationship with money, and form new habits so that they feel at ease knowing they have a plan.

No matter where you started from, today is the best time to understand how your money can work for you while being good to the world we live in.

Intentional Money was born out of a simple yet poignant need — the understanding that making money and supporting the world, in ways that are most important to you, do not need to be in opposition with each other. Through 1:1 and group coaching programs, Intentional Money is a movement to become good with your money- to earn, save, spend, invest and donate in alignment with your values. The Intentional Money curriculum is designed for investors of all levels, from the person looking to begin investing, to the person who wants to start thinking of major life expenses, such as buying a house or having children, and even for the investor who is ready to start investing in specific causes they believe in.

What services do you offer at Intentional Money?

At the moment, I work with clients in two formats — 1:1 and group programs.

The group program is a fantastic place to start: it strengthens your financial foundations so that you stop feeling overwhelmed (or bored) when you think of paying off debt or making a budget. The group program is capped at 8 people per group so that every participant feels heard and fully supported. We cover a wide array of topics from mindset and budgeting, to the basics of investing, and planning for retirement and beyond.

As part of the group program, I teach 8 sessions over 9 weeks, plus 3 office hours with experts (mindset, taxes, real estate). I also offer 1:1 services, which can be tailored to the needs of the individual. For 1:1, I work with clients for 10–12 weeks and tend to focus more on helping entrepreneurs scale their side hustles to be their full-time jobs, and help them plan their finances. I’ve also worked with people whose schedules do not allow them to attend a group program (or if they feel like they have nuanced questions and want my undivided attention and guidance).

Your views on why side hustles are important/necessary — now more than ever before?

If there is one lesson we took away from living through the Covid-19 pandemic, it was that life is very uncertain, and we cannot take anything for granted. Layoffs happen, and they should not ever be catastrophic.

I think side hustles are so important for many reasons — it diversifies your income streams so that you are not reliant on a single paycheck anymore. And even if you never stop working your 9–5, the multiplier effect of having a second income can accelerate your financial freedom (whether it’s by paying down debt, or investing for retirement, or even knowing you can support your children’s college education). There are great retirement accounts available only to entrepreneurs that can help with retirement planning, as well.

I will say, I understand that having a revenue-generating side hustle is not possible for everyone. It could be that your work schedule is crazy as is, or perhaps you’re in a job or visa that prevents multiple incomes. The goal of thinking about side hustles is not to feel overwhelmed. But at least think about what skill would you share with the world if you had to have a second income/ lost your job/ simply wanted to take a break and spend time with your family or kids?

Resources:

  • Savings Goal Calculator: here
  • 401k vs IRA: here
  • What is a Target Date Fund? here
  • What is an Exchange Traded Fund (ETF)? here
  • Free resources in your inbox, sign up for the newsletter here
  • Free 1:1 Finance Check-in for PBW members here
  • Forbes — 10 Things To Negotiate Other Than Base Pay
  • Thrive Global — Bringing Authenticity to Your Money Decisions

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Diverse global community for women in innovation and tech

Products by Women Journal

Since its inception in 2019, Products by Women has strived to create an inclusive community that offers women to connect and learn from peers from around the world, get matched with recruiters, and network with mentors to accelerate their career.