The Budgetnista’s Tips for Money Management
As Fly Female Entrepreneurs we manage clients, we manage vendors, we manage projects, we even manage other people’s money but let’s be honest, how well do we truly manage our OWN budgets? Tiffany Aliche, today’s In Her Shoes guest blogger and author of The One Week Budget is here to give us 10 quick and easy tips on how to get our financial houses in order:
The Budgetnista’s Top 10 Tips for Budget Management
10) Tell a friend: Correction, tell a real friend. This means someone who will hold you accountable without making you feel guilty.
9) Reward yourself: Everyone likes a pat on the back from time-to-time. Get yourself something special if you stay on your budget. Looking forward to something makes the task of budgeting easier.
8) Let go: No more guilt. Stop being so hard on yourself. We’ve all made mistakes (including me! I lost $20,000 on one bad investment. YES!). Get over it, move on and forward.
7) Use technology: Automation, computers, special calculators, email alerts sent to you from your bank, all these things are your friend. Hang out often.
6) Check regularly: Money needs to be monitored to grow, so check on it regularly to ensure it’s doing what you instructed it to.
5) Set a goal: This will help you get to your destination. Just like it make no sense to get on a plane without knowing where you’re going, it makes no sense to create a budget without a goal in mind.
4) Give and get an allowance: I bet you never thought you’d get one again. After creating your budget, decide which items you can pay for with cash each month, and add their amounts up, then divide the total by four. That’s how much your new weekly allowance is. If you take weekly cash allowances, it will help to curb your spending. When the cash is done, so are you…
3) Be honest: No change will be made unless you’re fully honest about where you currently stand financially.
2) Simple and soon: Don’t procrastinate and make things more complicated then need be. Start now by writing down what you spend each month. It’s just that simple!
1) Automate: By taking out the “flawed” human element, aka you, you’re more likely to stick to your budget. I’ve automated EVERYTHING; payments, bills, saving, investing, even giving to charity.
BONUS BUDGET TIP: Get my book, The One Week Budget. You can now read Day 1 for free by clicking here.
For additional information on The One Week Budget or to learn more about Tiffany ‘The Budgetnista’ Aliche visit www.thebudgetnista.biz.
About the Author:
Tiffany ‘The Budgetnista’ Aliche, a New Jersey native earned a Bachelor’s Degree in Business Administration from Montclair State University, she forwent a career in corporate America to teach undeserved youth in Newark, NJ. She went on to continue her graduate studies at Seton Hall University.
Tiffany is a passionate teacher of financial empowerment. She started her own financial consulting company called CLD Financial Life LLC. CLD was created around the belief that the purpose of life is to live a life of service. Tiffany centers her service on helping others master their money. She began her journey to help empower communities through financial literacy by helping family and friends first and then extending her services to churches, schools, companies and various other organizations. CLD Financial Life is the manifestation of her altruistic efforts to help others empower themselves financially.