As Sara White explained how she once showed a young client how to budget his income, I had a flashback to my own childhood.
White said she set up multiple envelopes, enough to cover eight months of utility bills. She encouraged the client to stuff the envelopes with cash from every payday, so he’d have enough to cover bills once they came due.
Then she joked that others may find that system – which she learned from her parents – kind of strange. But I could relate. My own mom was big on the envelope system, complete with numbers and dates written on the outside, to track amounts.
White, 52, is co-owner of CLT Residential Real Estate Partners, and widow of the late Reggie White, who was voted into the Pro Football Hall of Fame in 2006. That young client receiving the envelope advice was one of White’s teammates with the Philadelphia Eagles. Sara White said she’d help some of the young players with relocations – and with budgeting tips, too.
White will share more about her financial perspective this Wednesday at the Women Worth More conference, hosted by Worth Financial Advisors and Women’s Inter-Cultural Exchange.
Conference organizers say the event aims to “educate and empower local female executives and entrepreneurs about money.” The free event runs 9-11 a.m. at the Harris Conference Center, 3216 Harris Campus Drive. Register at worthadvisors.com/events/.
Other panelists are Molly Barker, founder of Girls on the Run and Red Boot Coalition; Jennifer Davis, CEO of JP Davis and Associates and author of “A Faith Greater than Grief...A Mother’s Journey”; and Michelle Horton, Founder of YOUniversity Drive. Horton is also the conference emcee.
Reggie White, who died in 2004, played his final season as a member of the Carolina Panthers. But he also spent a lot of time on entrepreneurial pursuits and thinking about finances, Sara White says.
After her husband’s death, she had two degrees and a real estate license – and the goal of sticking with a commitment she and Reggie had made to get several children in the family through college, including their own two kids.
“Financially, it was a mental thing how I had to get it together. But through the strength of my sister, brother-in-law, my parents... and my children, it helped me through that era.
“But I know real estate helped me as well because it kept me focused on other people, and not feeling sorry for myself. ”