Decide on an amount with your spouse that you’re allowed to spend without their permission. Or your “blow money”. Then they can’t get mad no matter what you spend it on as long as you stay in your agreed upon budget.
Women negotiate more effectively on the behalf of others than they do for themselves. Using that, I enter salary negotiations thinking about my family instead of just me- it makes it so much easier to ask for more! And once you have an offer and you're in negotiations, it never hurts to ask. The worst that that happens is that they say no, and most likely, they will meet you in the middle!
best piece of financial advice I ever received was to put $10 aside every week for the kids! Put it into a different account, and use that account when kid-related emergencies come up (like new soccer cleats! unexpected field trip!)
I was taught to NEVER carry a balance on my credit card if you can avoid it, but that logic recently flipped for me: if you combine a new credit card that offers a 0% interest promotion *with* a HYSA that provides 5% interest, you can generate some serious interest. It takes some planning, but pay only the minimum payment, transfer the remaining balance to a HYSA, and then pay off the whole balance before the 0% interest expires. Keep an eye on your credit limit, put a reminder on your calendar, and then enjoy the interest and potentially a fun sign-up bonus (cash back and/or flight miles).
So when my fiancé and I got together I was a SPENDER and he was horrified. Coming from a man who spends maybe $2 a month on nonessentials I was a little annoyed but alas he was right. He sat down with me and was ma’am you need to get your shit together.
He told me “if you have debt you have a negative net worth” This really stuck with me and I have paid off my 46000 student loan in 1.5 years because of this! Paying off your loan and seeing the balance go down is so amazing. It really feels like you are investing in yourself.
Max out retirement accounts if possible, don’t spend beyond your means (can happen to anyone no matter how much they make), and it’s not a deal if you don’t really need it! Thanks, mom and dad :)
Max out your retirement contribution early! (Not sure if this is good advice yet, I’ll let you know when I retire…. But seems sound). Also, learn to live with money, not for it.
Holding onto negative ideas about money and wealth that have been passed down in my family for generations is not serving me, or making me a better person. Let that shit goooo.
My best advice was to live in a area with a lower cost of living. I chose Las Vegas and love it! I have saved so much not spending tons on my home, and also don't pay state income tax. It's a huge savings!
Best advice: don't be afraid to negotiate your job offers! You have a lot more leverage as a candidate compared to when you're in the actual role, and you should push for what you know you're worth to maximize earnings down the road.
My great grandpa instilled in our whole family: when you come across a large sum of money (a bonus, Christmas money from grandma, tax refund, etc.), always take 20% of it to do something fun and guilt free with and put the rest in savings!
My BIL is a financial advisor and convinced me to start a Roth IRA at 22 with my post grad summer camp salary (very meager) and continue to max annually from there. Additionally being able to invest money with someone I trust starting early on was SO helpful. So also just having a conversation with a financial advisor asap to see what your options are.
Don't buy things you can't pay for in cash. I didn't get my first credit card until I was 26 - I am now 32 and have never not fully paid it off in a month. Society puts so much pressure on everyone to always have the newest and best. But short term sacrifice leads to long term reward!
My father is a financial advisor and as soon as graduated college he made me open a Roth IRA and start contributing (even though I had a 401K through my job). I was only able to put a little bit away back then and grumbled and complained about it, but it will be worth it some day! He made my boyfriend (now husband) do the same as soon as we started dating! He also made us both take out pretty significant life insurance policies as soon as we had kids - again, we complained about the cost but it's the right thing to do.
Decide on an amount with your spouse that you’re allowed to spend without their permission. Or your “blow money”. Then they can’t get mad no matter what you spend it on as long as you stay in your agreed upon budget.
Women negotiate more effectively on the behalf of others than they do for themselves. Using that, I enter salary negotiations thinking about my family instead of just me- it makes it so much easier to ask for more! And once you have an offer and you're in negotiations, it never hurts to ask. The worst that that happens is that they say no, and most likely, they will meet you in the middle!
best piece of financial advice I ever received was to put $10 aside every week for the kids! Put it into a different account, and use that account when kid-related emergencies come up (like new soccer cleats! unexpected field trip!)
Invest in your retirement, even if it seems too small of an amount to make a difference! It all adds up!
I was taught to NEVER carry a balance on my credit card if you can avoid it, but that logic recently flipped for me: if you combine a new credit card that offers a 0% interest promotion *with* a HYSA that provides 5% interest, you can generate some serious interest. It takes some planning, but pay only the minimum payment, transfer the remaining balance to a HYSA, and then pay off the whole balance before the 0% interest expires. Keep an eye on your credit limit, put a reminder on your calendar, and then enjoy the interest and potentially a fun sign-up bonus (cash back and/or flight miles).
Never take financial advice from a banker 🤣
So when my fiancé and I got together I was a SPENDER and he was horrified. Coming from a man who spends maybe $2 a month on nonessentials I was a little annoyed but alas he was right. He sat down with me and was ma’am you need to get your shit together.
He told me “if you have debt you have a negative net worth” This really stuck with me and I have paid off my 46000 student loan in 1.5 years because of this! Paying off your loan and seeing the balance go down is so amazing. It really feels like you are investing in yourself.
Max out retirement accounts if possible, don’t spend beyond your means (can happen to anyone no matter how much they make), and it’s not a deal if you don’t really need it! Thanks, mom and dad :)
Max out your retirement contribution early! (Not sure if this is good advice yet, I’ll let you know when I retire…. But seems sound). Also, learn to live with money, not for it.
Holding onto negative ideas about money and wealth that have been passed down in my family for generations is not serving me, or making me a better person. Let that shit goooo.
You should read Vivian's book! She discusses this. Xoxo
My best advice was to live in a area with a lower cost of living. I chose Las Vegas and love it! I have saved so much not spending tons on my home, and also don't pay state income tax. It's a huge savings!
Best advice: don't be afraid to negotiate your job offers! You have a lot more leverage as a candidate compared to when you're in the actual role, and you should push for what you know you're worth to maximize earnings down the road.
My great grandpa instilled in our whole family: when you come across a large sum of money (a bonus, Christmas money from grandma, tax refund, etc.), always take 20% of it to do something fun and guilt free with and put the rest in savings!
My BIL is a financial advisor and convinced me to start a Roth IRA at 22 with my post grad summer camp salary (very meager) and continue to max annually from there. Additionally being able to invest money with someone I trust starting early on was SO helpful. So also just having a conversation with a financial advisor asap to see what your options are.
Don't buy things you can't pay for in cash. I didn't get my first credit card until I was 26 - I am now 32 and have never not fully paid it off in a month. Society puts so much pressure on everyone to always have the newest and best. But short term sacrifice leads to long term reward!
My father is a financial advisor and as soon as graduated college he made me open a Roth IRA and start contributing (even though I had a 401K through my job). I was only able to put a little bit away back then and grumbled and complained about it, but it will be worth it some day! He made my boyfriend (now husband) do the same as soon as we started dating! He also made us both take out pretty significant life insurance policies as soon as we had kids - again, we complained about the cost but it's the right thing to do.