Tiffany Aliche, founder of The Budgetnista, is an award-winning teacher of financial education, and America’s favorite personal financial educator. She is the author of Get Good with Money (a New York Times Bestseller), The One Week Budget, and the Live Richer Challenge (the world’s first 28-day money challenge). Ms. Aliche has helped millions of people across the globe get better with money, and now she wants to help you! This list will share some of her favorite tips on how to become a budgeting superstar! America s favorite personal financial educator offers up her best tips for budgeting success
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Save your hard earned money
In her new book, The One Week Budget: A 4-Week Plan to Take Control of Your Spending and Reclaim Your Financial Freedom, Aliches shares five of the easiest ways to save money. Here are our favorites:
1. Buy in bulk. When we do
n’t buy things in large quantities, they go on sale so quickly that by the time we’ve decided to buy them, they’re out of stock! America s favorite personal financial educator offers up her best tips for budgeting success
Make saving easier by automating your savings
When it comes to paying bills, one of the first things you should do is start automating everything. You’ll never forget when your monthly payments are due and if you’re setting up an automatic transfer from your checking account to your savings account each month, you won’t have any excuse not to save. Now all that’s left is the fun part – seeing the money grow in your savings account!
Design a one week challenge
For a week, track everything you spend. At the end of the week, reflect on what you spent your money on and how much you spent. Now that you know where your money is going, it will be easier to identify areas where there are opportunities to save more and get rid of unneeded expenses.
Have cash on hand
Chances are you know how important it is to have enough cash on hand, but what exactly does that mean? How much cash should you have? Should you keep your money in the bank?
What is a good rule of thumb? These are all great questions and, fortunately, there are some answers. The average American household has $1000 to $1500 in cash. That seems like a lot doesn’t it?
Use cash only when you shop
I think it’s important to keep track of how much you’re spending in a given day, or when you’re getting close to your credit limit, says Tiffany Aliche, America’s favorite personal finance educator. The moment we realize we’re out of money and don’t have the means to make it until payday is always a very powerful one.
>In order to maintain control of our finances and make better spending decisions, try using cash only when you shop.
Track where your spending goes
Tiffany Aliche, America’s favorite personal financial educator, has offered up some of her best tips for becoming a budgeting success. As she says, Success is the result of taking positive action with focus and discipline and there are some things you can do to get the ball rolling.
First off, make sure that you create a household money goal as well as establish your household money values and principles.
Cut back on little expenses
The internet can be your best friend when it comes to looking for good deals, as most sales and coupons are available online. However, before you go shopping, make a list of the items you need and stick to your list! If you don’t need something that is not on your list, then don’t spend money on it! Shopping with a set amount in mind will help stay in budget.
Stay out of debt
If you’re in debt, it might seem like the answer is to live more within your means and save. But that’s just not the case: Debt (including loans, credit cards, and mortgages) is what often causes people to live beyond their means. You don’t need to bring your spending in line with your income—you need to bring your income in line with what you’re already spending.
Know when you can splurge
Use the Live Richer Challenge and the Live Luxe Challenge to know when you can splurge. The Live Richer Challenge helps you spend less and save more, while the Live Luxe Challenge encourages you to live richer (while still saving).
Manage your finances in one place
Budgeting on paper can seem like a waste of time or an antiquated practice, but it is actually one of the most useful ways to make sure you are managing your finances. To start budgeting, get a notepad and try out these four steps:
1) Write down all your income (wages, side hustles, freelance work). 2) Break that number down into basic categories: rent/mortgage, utilities (electricity), food, gas/transportation costs.
What are some of your top budgeting tips?
Incorporate some creativity into your budget to keep it fresh and exciting.
Who is Tiffany The Budgetnista?
Tiffany Aliche, Founder of The Budgetnista, is a popular personality and media expert on money issues with national audiences on Oprah Radio and ABC News Now. She is the author of three national bestselling books: Get Good With Money (a New York Times Bestseller), The One Week Budget, and the Live Richer Challenge.
When did Tiffany Aliche get married?
Tiffany met and married Marcus in high school and they were together for 18 years. Together, they became parents to four children.
Tiffany always knew she would be a writer, but spent many years working in banking and finance. She started teaching about finances after she was laid off from a Wall Street company that got into trouble during the 2008 recession.
What is Budgetnista?
Budgetnista, an award-winning teacher of financial education, America’s favorite personal finance expert and author of Get Good with Money, The One Week Budget and the Live Richer Challenge, offers advice on how to get started on your own finances. She writes about the struggles she faced in life and how she went from being a self-proclaimed financial illiterate to a professional.