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💵Sharing my financial journey & helping you start yours 👩🏽💻Author, Blogger, and Money Coach 💰Paying off $154k of debt as a newlywed 📍Upstate SC
You track your expenses so you know what you’re actually spending. It’s your starting point. I always tell my clients just because I have you tracking doesn’t automatically mean you have to cut anything. ✨Start by choosing an average month to track. Aka not December with the holidays or another month that was just crazy. Write down everything you spend. Everything. My clients get a super easy to use expense tracker to plug in their info but you can create one too. ✨ Next, create your budget based on actual numbers. You can see what your budget would look like if you kept all your numbers the same. ✨ Review your goals and values to see if your budget aligns. If not, that’s when you look at cutting or reducing expenses. Of course if you notice you’re paying for subscriptions or something you don’t use, get rid of it. But just because you track doesn’t mean you have to cut. Have you tracked your expenses? What was your biggest realization?
not sure how much money you’re going to be bringing in month-to-month and figuring out your spending and money goals overwhelms you. Once you have established what you need to save for your one month initial emergency fund, create a budget using an average baseline of income. That’s why, in addition to a minimum one month emergency fund, you need to get one month ahead on expenses. Once you have your minimum one month emergency fund set up and you’re working off of a baseline budget, use the leftover money from your budget, or any excess money that exceeded your baseline budget, and use that money as a buffer in your checking account.
It’s time. We talk about EVERYTHING with our friends but somehow “money is still taboo”. Why is that? Money affects every aspect of our lives and yet we hesitate to share with our friends. Is it a fear they will judge you? Fear they will laugh? I’m going to challenge you to start the conversation. Share your money goals, what you are struggling with, and your money wins. If your friends are as great as you think they are, they will support you and celebrate with you. They probably will share their wins and struggles too. It will make it 10000% times easier to plan weekend trips or girls nights when you have open conversations about money. Less stress, potential resentment, and anxiety. Need help starting the conversation? Make sure notifications are on because I’ll be sharing tips in my stories. Do you talk about money with your friends? Let me know 👇🏽
Figure out what went wrong The first and most important step to getting back on track if you go over budget is figuring out what exactly went wrong. If you haven’t done so already, track a month of expenses to get your actual numbers — not just your ideal budget numbers. It means that when you sit down at the end of the month to create the budget for the next month, it doesn’t mean that what you write is set in stone. For example: If you overspent in your grocery budget by $200 and you have a “Personal Care” budget that has $200 in it, move that $200 to the grocery fund so that you are no long “over budget” in that area.
This man. Went to school practically full time while working full time for the past 2.5 years. He gets home from work at 1am and had class at 8am. While still helping me in the middle of the night with HCW. I am so proud of him 😭😭😭 If you don’t know Joe’s story, he switched majors a few times. Transferred schools Couldn’t really decide what he wanted to do. Choose education and dropped out right before student teaching. Six figures of student loan debt and no degree. Anyway fast forward and he always wanted to go to school for mechatronics. He’s so good at what he does and is literally a math genius. So we decided to cash flow his school and he went back. We spent around $20k total (tuition + books). Here we are 2.5 years later and he is DONE. He has his associates degree in Mechatronics and I’m so freaking proud of him. Time to celebrate!! 🎉
Here are 5 ways you can reduce impulse spending today: One of the major reasons that budgets, or spending plans fail, is because they are too restrictive. You also have the option to put these emails in a “roundup email” that way instead of getting 50 sale emails a day, you only receive one. Much like unsubscribing from retailer emails, this tip to reduce impulse spending is about putting barriers up for yourself. Time is the ultimate victor against impulse spending, but it takes time to train your brain to think like instead of favoring a quick endorphin release with a new purchase.
I went out for the first time in 6 months. Honestly it was over a year since my BFF and I went out just the two of us but this was my first time without Joe and HCW. I went to our Mexican restaurant with my BFF and y’all, I had no idea how much I needed it. As you know I suck at resting. My mind doesn’t turn off. I hate yoga. I don’t want to spend a ton of money on my nails or my hair. But self-care doesn’t have to look like that (it can if you want!). Self-care looks different to everyone. But it is SO freaking important. 📍Save this for when you need the reminder I spent 3 hours laughing, catching up, just being in the moment. Not worrying about my to do list or what’s coming up this week. If no one has told you recently, self-care isn’t selfish. You need to make it a priority. Some other examples of self-care: ❤️saying no to things you don’t want to do ❤️taking a walk ❤️asking for help ❤️wearing clothes that make you feel good ❤️taking a trip What does self-care look like to you? 👇🏽
If you have: $2,000 emergency fund $2,000 house down payment $500 repair fund $500 annual car insurance Do you really need that $100 if it will be coming from your emergency fund? The Ally buckets feature allows you to allocate money to specific goals within one account which is why I love Ally. but you can’t keep pulling from your savings account if you want to get ahead financially and actually reach your goals.
One of the main concerns with most of my clients is pulling money back out of savings. We’ve all been there. You get paid, transfer money to your savings account, a week later you forgot about an expense or overspent so you transfer money back out. Then you get frustrated because your savings account isn’t growing and you’re not sure how to actually save. Well here are 2 tips: 1️⃣ you need a separate HYSA (high-yield savings account) for your savings. If you want to keep a small amount in your savings account linked to your checking account that’s fine but the majority (aka emergency fund and sinking funds) shouldn’t be there. 2️⃣ You need to know what that money is for. I recommend using Ally (go back a few posts and watch my reel on Ally buckets). What questions do you have about saving? What is your big savings goal? 👇🏽
Raise your hand if: A family member, friend, or random person on the Internet has told you how you should or shouldn’t spend your money? Okay I can’t see if you’re raising your hand so just let me know in the comments👇🏽 I’ll have to share some of the things random people on the Internet have said to me (maybe I’ll make a reel about it) A few things I want you to do: 1️⃣If you’re that person telling someone how they should or shouldn’t be spending without being asked for your opinion, STOP. 2️⃣ If you are struggling with feeling guilty about spending, you need to revisit your values (@the_debtfreenurse covered this last night with my Flourish FinanciALLI students). You want to be spending on things you value 3️⃣ You need to set boundaries with family members/friends/the Internet so can stop doubting yourself. I’ll never tell you what you value is a waste of money. You might think things I value are waste of money but I don’t care. Let me know in the comments one thing someone has said to be before about what you spend on 👇🏽