Did you wrap up 2018 feeling regretful because you weren’t as smart with your finances as you should’ve been? WELL, new year... new financial goals, fam!
Tiffany “The Budgetnista” Aliche stopped by “The Real” on Wednesday to drop some tips on how to secure your coin in the new year!
FIRST, the Budgetnista suggests that you have to make an effort to SAVE your money as much as possible! “Savings is so important and timely, and though saving is not hard, we do have a hard time with it! Savings is THE most important part of your financial future.”
Are you down to save your money, but not sure where to start? The Budgetnista has you covered there too, saying, “AUTOMATION IS KEY! You can easily set up automated transfer from your checking account to your savings account,” and added that you can start with amounts as low as five or ten dollars, or as high as five-hundred – it’s completely up to YOU, and the goals you want to set for yourself.
The next tip she gave was to open ONLY a savings account with an online-only bank in order to have “inconvenient money"... "because you can quickly transfer $5 as quickly as you can $500, it’s a 1-3 day wait for the transfer, but it makes your money inconvenient, which is good,” because you don’t spend it as quickly. “You don’t want to open a checking account at your online-only bank, because if you have a checking account you’re gonna have a debit card, and you’re going to have access to that money… you want to make your money inconvenient, because inconvenient money gets SAVED!”
The Budgetnista also encourages us to look at our regular monthly bills and to try negotiating with those companies to get a discount, adding that she negotiated her cable bill to be $30 a month cheaper than what she was originally paying!
And LASTLY… RETIREMENT! Did you know that if you invest in your retirement account, many companies will match what you have invested? “It really depends on the company, but what remains the same is that if you don’t invest in that company, you don’t get the match, and you miss out on that free money… go to H.R., you can just ask them if there’s a match program available!”
So, fam… in 2019, remember to focus on AUTOMATION, online-only SAVINGS, NEGOTIATING your consistent monthly payments, and have your employer MATCH your retirement investment!
With these tips, we won’t be entering 2020 with financial regrets! Let us know your financial tips, fam!