Money Archives ⋆ Tiffany Nicole Forever

Financial Planning, Money, money matters, Uncategorized, Wealth Building, Women and Wealth

Mid-Year Financial Checkup

We have just hit that time of the year where we are in full transition. Happy June. Not only is this the month of reflection – mainly because we are passing from the 1^st half of the year into the remaining 6 months – but it’s also the month of the reboot; and yes, that includes your finances. We’re a few months past spring cleaning but it’s now time for a midyear financial checkup.

Money is one of those topics that does not improve (or go away) if ignored. Before any more time gets away from you, let’s evaluate those annual goals and see if you’re exceeding expectations, right on track, or in need of a little help to get back on the road to financial security. Don’t worry, if you’re not sure where to start, I’ve made it easy for you. Keep reading for my top tips to a painless mid-year financial checkup!

Debt, Financial Planning, Money, money matters

5 Ways to Eliminate Debt Now

How many times have you decided that you were going to get your money right? We generally think about how we handle money when we go through a financial setback or are about to make a major purchase. What if you changed the way you interacted with money, not out of desperation but because it was a priority for you?

Waiting until you have a need for a good credit score or substantial savings is like working backward. The goal is to prepare yourself so that unexpected expenses or opportunities, don’t turn into financial emergencies. We generally think about improving how we interact with money in 3 steps: saving, budgeting and paying down debt. While the first two mean a change in behavior and creating new habits, with consistency they can be mastered. Getting out of debt, or developing a debt-free lifestyle can take a bit more effort.

Why?

Because debt for most is a safety net of sorts. When you can’t make ends meet or have a financial crisis, it’s the go-to solution. Once it spirals out of control, it becomes a pay-the-minimum and deal with it later situation. The problem with this thinking is that until you develop a plan to eliminate debt, it doesn’t go away.

Change your life, Credit, Debt, Financial Planning, Goal Setting, Goals, Intentional Living, Life, Lifestyle, love, marriage, Money, money matters, relationships, Wealth Building, Women and Wealth

The Money Talk – How to have a real discussion about finances!

There is often a negative opinion of both money and relationships. This is probably due to the countless reports of money being a leading cause of divorce. But there’s a flip side. If you’re willing to have an open line of communication and are able to make financial decisions together, then money doesn’t have to be a negative topic of discussion. In fact, it could actually bring you and your significant other closer together.

If you’re new to your relationship or you’ve had a bad experience, with discussing money issues, in the past, you may be wondering when is the right time to have the dreaded money talk. Don’t stress about this and don’t rush it! Every relationship is different and there is no right or wrong time. Just be sure that you are in a serious committed relationship, where sharing finances and resources, is something that you’re starting to engage in – there’s no need to expose your most personal information, if it’s not warranted.

No couple moves at the same pace as another. But when the time is right for you, it is important that you are able to have an honest and respectful dialogue. Keep reading, for my top tips on how to have a great conversation on money; one that brings you closer together.

Business, Business Tips, Change your life, Credit, Debt, Entrepreneurship, Financial Planning, Intentional Living, Money, money matters, Saving, Training, Wealth Building, Women and Wealth

The Entrepreneur’s Budget

Working for yourself comes with lots of perks and for most people it can appear to be the ideal situation: make your own schedule, spontaneous coffee trips and mid-day napping… right?

Well, not quite.

Aside from the fact that you actually do work – probably more than you ever have in your life – there are other stressors that non-entrepreneurs tend not to think about. These are benefits that are generally offered in the employee/employer relationship: health insurance, paid time off, sick days, retirement savings and steady predictable pay.

As an entrepreneur, managing your money, takes on a whole new meaning. With the ultimate goal being to avoid monthly panic and actually be able to look at your bank account with peace of mind. This requires an intentional approach to your income.

Credit, Debt, Financial Planning, Money, money matters, Motivation, Saving, Wealth Building, Women and Wealth, Women Issues

Top 3 Apps to Pad Your Savings

Bills paid, savings account padded, low-to-no debt and a surplus in your monthly budget are money goals. Because when you conquer money management you empower yourself to have your money work for you! But the truth is that getting control of your financial situation can sometimes feel like a full-time endeavor. From developing a debt repayment plan and managing your monthly expenses, to deciding how much to save or invest each month, there’s more to mastering your money than direct deposit and debit cards. Before you get overwhelmed, take a deep breath. There’s no reason to let this get the best of you.

When it comes to your money,

technology is your friend.

In fact, we can now complete almost every type of transaction right on our smart phones. From paying bills to requesting a credit limit increase, or even selling off stocks… we now have the gift of convenience at our fingertips. And since you have now mastered creating your own budget, it’s time to focus on saving; and today I want to share my top 3 app picks for no-fuss saving!

Change your life, Credit, Debt, Financial Planning, Intentional Living, Life, Money, money matters, Wealth Building, Women and Wealth, Women Issues

Quick Guide: Digging out of Debt

In my early 20’s I thought that I was drowning in debt. Credit saved me several times from financial emergencies, but figuring out how to make the monthly payments became an ongoing challenge. I remember keeping a notebook and a calendar. In my notebook, I had a debt repayment log. I kept up with bill due dates, interest rates, minimum due, amount paid and the remaining balance. The calendar was filled in with bill due dates and the amount that I was planning to pay. I was so excited each month and I was able to reduce the amount I owed or cross another paid account off my list. I kept up with everything, until all of my debt was completely paid off.

Looking back, the amount of debt that I had back then is laughable (now), but at the time I was completely overwhelmed with the looming reality that I owed money and had to pay towards it every month. My anxiety was likely caused by the fact that there was no extra to spare. I was barely making ends meet and I remember trying to stretch my remaining $20 – after all bills were paid – until my next payday. But I learned a lot about the rewards of discipline and the mindset shift that needs to take place to overcome debt and change your financial situation.

Change your life, Financial Planning, Intentional Living, Lifestyle, Money, money matters, Wealth Building, Women and Wealth, Women Issues

Women and Wealth

I’m the go-to girl for all things money. The one that always provides money advice and tips to my clients, friends and even strangers. I used to feel like a walking encyclopedia of information, because I constantly receive calls, texts and emails asking me how to navigate financial dilemmas. But I get it. There’s a reason people look to me for counsel, in this area. They trust experience. They want to hear from someone that has been through it, survived it and bounced back from it… especially when it comes to their finances.

Here’s the thing, I offer a unique perspective. I’ve faced and overcome just about every possible financial obstacle. Over time I came to realize that bad credit and financial misfortune does not mean that you’re a bad or irresponsible person. Sometimes, we make poor decisions and sometimes life just happens. I’ve learned that others, like you, can benefit from my experiences, trial and error and breakthroughs! …I’m also pretty sure that my financial knowledge and b-school education doesn’t hurt either.

Why?

As an entrepreneur, managing your money, takes on a whole new meaning. With the ultimate goal being to avoid monthly panic and actually be able to look at your bank account with peace of mind. This requires an intentional approach to your income.

When it comes to your money,

technology is your friend.

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