So, let’s get one thing straight: no one emerges from the womb with an arsenal of financial savvy. We’re all just bumbling around, learning about money like we’re at an improv class where the instructor forgot to show up. And the sooner we get started on this chaotic journey, the better—preferably before your bank account gives you the cold shoulder.
Once you stumble through the treacherous terrain of financial jargon and a plethora of Excel spreadsheets, you might find yourself paralyzed with anxiety. And guess what? It doesn’t matter how much dough you have; if you don’t know how to spend it wisely, all you’ve got is a recipe for stress (and probably a few sleepless nights sobbing over your credit card statements).
“Step one to finding financial nirvana: ditch the shame,” declares Tiffany Aliche, aka The Budgetnista, as if she’s handing out free therapy sessions on CNBC. Aliche has survived her own wild ride through the financial funhouse and is here to guide us all out of the maze.
Whether you’re drowning in debt that makes Mount Everest look like a speed bump or merely trying to figure out how to save without selling your kidneys, Aliche has three golden nuggets to help you kickstart your financial wellness journey. Spoiler alert: no magic wands involved.
1. ‘Shed that shame’
Everyone has to start somewhere, right? Some lucky folks waltz through life with parents who teach them about money, while others end up adulting like it’s a scavenger hunt with no map. If you’re sitting there feeling embarrassed about your financial cluelessness, let me tell you—it won’t help you one bit.
“Shame shields solutions,” Aliche notes sagely, as if she’s about to reveal the secret to the universe. If you hear “budget” and all that registers is “I’m a financial failure,” you’re doing it wrong. Forget about being perfect; trying to adhere to a super-strict budget is like trying to follow a diet at a buffet—good luck with that.
One of the best ways to remove that pesky shame is to spill it to someone else, she suggests. Find a friend. Talk about your money struggles. You might find that they’re knee-deep in similar troubles, too. It’s like a support group—but without the awkward chair circle and snack restrictions.
2. Ask for ‘specific help’ with your money goals
Finance is personal, which means you need personalized guidance. It’s like going to a hair salon and asking for “something nice.” What the heck does that even mean? Exactly. Aliche thinks you should pinpoint your specific money struggles and ask for targeted help. Sounds easy enough, right?
Some of us are losing sleep over debts, while others are sweating about how little they save—or maybe you’re just trying to escape the paycheck-to-paycheck hamster wheel. Each scenario begs different resolutions, as illustrated by Aliche’s anecdote about a friend who suddenly found himself with $2.5 million and zero clue what to do next (quite the conundrum, to be honest).
She told him to hire a certified financial planner—because, you know, figuring out how to manage a windfall shouldn’t come from Googling “how to adult” at 2 a.m.
3. Focus on what you can control right now
Now that you’ve conjured up a plan, it’s time to put it into action. I know, it sounds almost scary, like entering a shark tank unarmed. But fear not! Aliche suggests focusing on what you can control. Trust me, this is your golden ticket to financial sanity.
“You have more control over your discretionary expenses than you think,” Aliche reminds us. So start there, ideally before your impulse buys land you on the “worst money decisions” list. Big-ticket expenses are tough nuts to crack and often require life-altering moves—like moving in with your parents; we don’t recommend that on your first try.
Just remember, starting somewhere, no matter how small, is critical. If your massive financial goal feels like trying to build a rocket ship in your garage, break it down. Ask yourself, “What can I tackle today?” Who knows, maybe you’ll be on your way to financial savvy sooner than you imagined!
Ready to make some extra cash without giving up your already questionable office job? Check out CNBC’s online course on passive income. Because who doesn’t want to learn how to earn just a little while sipping coffee and pretending to work?
