Author: Tiffany Aliche
|Get Good with Money (2021) is a financial guide that will push you to understand your finances better so that you can earn, save, invest and pay off any debts you have. Tiffany Aliche shows her readers that getting good with money does not mean getting filthy rich. It just means that you need to learn the fundamentals of managing finances.|
Get Good with Money is about what Aliche calls, ‘Financial wholeness’ It will enable you to cultivate a realistic picture of who you are and where you stand financially. Becoming financially whole is both a journey and a destination and you can learn it by considerate spending and saving.
Tiffany Aliche moves gradually from one step to the next. The reader is able to transform his mindset about money, and asses sources of income, expenses, and savings. After helping her reader to put it all out on the table she moves toward explaining the next step. That is cutting down expenses, learning from noodle budget, and saving for emergencies and long-term goals.
Get Good with Money Key Points
Check Your Perspective About Money
Before you apply any of the advice given by the author she advises you to check the habits and patterns you have formed related to money. You might think that this is unnecessary because you are starting as a new person who wants to develop saving habits but the truth is that your spending habits in the past and your attitude around money will influence your choices in the future. As you start to observe these patterns you will understand where most of your money goes. You will be surprised that most of the time you make a decision of spending money you are being influenced by society.
Let go of that Spotify subscription you have because we both know you barely touch that app! Yes, your friend James may think its cool to have Spotify premium but you are not into podcasts and music hence it’s useless. It is time for you to decide where you really want to spend your money. Remember that your financial status today is not the end. If you have zero savings it does not mean you cannot save in the future as well. You will earn financial abundance with the right decisions.
Budget Everything to Make Your Dreams Possible
Budgeting is an active task and can be hard but when you sit and make a plan you are saying yes to the goals and dreams that you have not been able to fit into your monthly income due to mismanagement or no management at all. To being budgeting, first list down all of the resources you earn big or small. Think about your day. How much do you spend in a single day? Take everything into the account. From your morning coffee, cab, or lunch with friends, to the drinks you have at the end of the day.
At this stage, refrain from judgment. Do not tell yourself you are an idiot for buying that extra-large meal or for spending extra on an uber when you could have just walked. List down everything without any guilt or shame. Combine these and know your monthly expenses. Now minus your spending from your monthly income. That is how much you are saving. Do not worry about this figure because we are definitely going to improve it! Go back to expenses and label them as Bills, Utility Bills, and Cash expenses.
Cash Expenses Mean You Have a Spending Problem
If your cash expenses are more this means you are spending way more than you should. To tackle this stay off the websites you most frequently shop from and cancel your unused subscription like Netflix or Spotify. Now you must make two accounts for each category: expenses and savings. One for expenses, one for bills, one for emergency funds, and one for long-term goals. Also try to automate all the deposits and payments so that you there is less burden on you and the transactions are error-free.
Save into Your Emergency and Long-Term Funds
Remember those saving accounts you set up while we were budgeting? It’s time to save up some money in those accounts. To save up on these funds you will need to earn more and spend less. What is the minimum amount you can survive on during a month? This is your noodle budget. Don’t worry you will not have to survive on your noodle budget forever but when you figure out your noodle budget you will be able to cut down your expenses. They can be either for groceries, transport, or entertainment.
In your emergency fund, your goal should be to save at least the amount you will require for three months’ expenses. Save up for investing and your personal goals too. When buying something ask yourself if you like it, want it, or need it. For a saving an account choose an account type that earns you profit. The more you will save and deposit the more profit you will get. This will encourage you to save more.
Get Good with Money Quotes
“The most important aspect of keeping your money is being aware of how much of it you are spending.” -Tiffany Aliche
“Please, do not let fear or laziness be the reason you continue to struggle financially, I cannot stress this enough.” -Tiffany Aliche
Get Good with Money Review
Get Good with Money has some actionable advice on becoming financially whole and independent. The principles described by Tiffany Aliche are extensive and are bound to take time as you apply them but you need to remember that financial independence is worth the budgeting and planning.
To Whom I Would Recommend Get Good with Money
- To the twenty-nine-year-old guy stuck in huge debt with average pay.
- To the teens who splurge all their little earnings and savings so that they can ‘live in the moment.’
- And to anyone who is struggling to save for their long-term goals and pay off their debts.