Leveraging social capital to build wealth

Happy Friday Friends!

I (Misti) am in the middle of what I’m calling my “spring friendship tour,” visiting friends and family living in four different states.

I’ve had long drives to reflect on the impact of these friendships on my life trajectory.

These high-achieving, confident, and supportive women have challenged me to set and achieve goals well beyond what I ever imagined for my life.

They’ve even leaned into my recent obsession with all things personal finance, and we’re each growing and learning as we become more comfortable sharing our financial goals and wealth-building strategies.

🚀 The Power of Social Capital in Our Wealth-Building Journey 🚀

Reflecting on the wealth I’ve found in community reminded me of Jen and Jill’s episode with Laura Oldanie (EP 362), who talked about the different forms of wealth; relational wealth being one of them.

This isn’t referring to superficial metrics like, ‘how many friends do you have’ or ‘how many likes and follows are you getting on the gram,’ but rather the connections formed with those in our neighborhoods, online and amongst family and friend groups. 👩‍👩‍👧‍👧

As we make investments in our relationships and community we experience increased benefit to all aspects of our lives.

This relational capital (also known as social capital) can be leveraged and exchanged to build resources and should be tallied up with all the other forms of capital: material, intellectual, living, experiential, spiritual, cultural AND finally our financial capital (net-worth).

When we can value and invest in all these areas, we will rarely go broke!

💭 So, what does it look like for us to invest in and leverage social capital? 💭

We can think about opportunities to give and receive with those around us.

From tool libraries and buy nothing groups to community gardens and trading skills, knowledge and time with friends and neighbors, there are ways we can make the most of social capital.

The most pivotal way I’m leveraging my social capital right now is that my network of friends and family graciously fill gaps in any housing needs along my nomad journey; in return, I offer my pet care and domestic services (aka I do a lot of meal prep).

We’ll continue to talk about the benefits of community in relation to our finances in upcoming Friendletters, but I’d love to know…

How have you leveraged social capital on your wealth-building journey? Reply to this email to let us know!

This week on the pod, Jen and Jill focused on some interesting shopping strategies. On Tuesday, they broke down the reality of saving money at warehouse clubs in Grocery Store vs. Warehouse Club Savings Analysis (EP 402).

Today, they spoke on a topic I for one didn’t realize still happened: How to Make The Most of Yard Sales. I’m happy to know yard sales are still alive and well and am definitely more prepared if I come across one!

Tune in wherever you get podcasts and let us know what you thought of the episode over on our latest Instagram post!

 Listen: Have y’all discovered Dylan Gossett on Spotify yet? To Be Free is certainly one song I have on repeat.

 Watch: To learn more about the power of social capital, check out this TEDx: The Social Capital Gap

 Do: Get 30% off of meal plan subscriptions through CookSmarts with code 11YEARS! e’ve been big fans for a long time and especially with end of school year chaos, now is a great time to outsource this job AND get a great deal on done-for-you meal plans that fit your family needs and size. Get the deal now through 5/8.**

 Meal Plan: As promised, I’m sharing my go-to dip, perfect for potlucks and as a spread for a fancy breakfast toast: Honey Whipped Goat Cheese with Marinated Olives. 🍯

Catch ya later,

⭐️⭐️ P.S. Want to share all this goodness with your friends AND earn cool Frugal Friends merch?

**Means this is a sponsored or affiliate section. We may earn a small fee or commission when you choose to try one of our sponsor or affiliate partners. But opinions are still 1000% our own.

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