Key Messages
Tiffany Aliche’s 10 Principles For Achieving Financial Wholeness And Empowerment
In her book, “Get Good with Money”, Tiffany Aliche shows you how to take control of your finances in a way that is both accessible and empowering.
She explains the fundamentals of budgeting and how to become financially successful.
Aliche’s formula relies on 10 principles that have helped her readers save millions in debt and build themselves a bright future.
She explains why squirrels make the perfect financial role models, so that you can learn from their clever strategies for storing up food for winter and apply them to your own financial plan.
Finally, she shows you how to get richish – a term she uses for setting realistic goals for your financial success.
Overall, if you want to gain freedom from worrying about money, create security for yourself and your family, this may be the perfect time to follow Tiffanys advice and get good with money!
The 10 Steps To Achieving Financial Wholeness And Abundance
When it comes to managing money and achieving financial wholeness, having the right mindset is key.
It’s easy to feel anxiety and shame when it comes to managing your finances, but with a few simple exercises you can overcome your triggers.
Start by recognizing what has influenced your approach to money; was it family or society? Once you understand where this behavior is coming from, gently probe why you behave the way you do and start breaking any patterns that aren’t serving you.
Developing a healthy mindset around money will help you reach financial success more easily.
This means finding your own financial voice and using it to make decisions with confidence, as well as expressing gratitude for the progress you make and the steps forward in your journey towards financial abundance.
Becoming aware of the people around us who may be negative influences is important too – replace them with individuals who can give sound advice and support instead.
With these steps taken care of, remember that all successes are within reach – success begins within ourselves!
Create And Manage Your Budget For Financial Happiness And Security
Creating and managing a budget is essential to securing your financial future.
It will not only enable you to indulge in your wildest dreams, but it’ll also allow you to be in control of your finances.
At the start, establishing a money-in list and a money-out list is necessary so you can get an overview of your incoming funds every month and where these funds are going.
This part may be difficult for some as it’s easy to feel overwhelmed with the figures – however, Aliche advises being as specific as possible.
What the Get Good with Money book emphasises most of all is that having a solid budget provides the foundation for financial success and stability.
You now have an idea of how much income comes in versus out.
A good way to reduce one’s expenses include declining online shopping for at least 3 weeks or cancelling unused subscriptions.
Simultaneously, looking for ways to increase income can be explored such as getting more gigs or asking for pay raises.
Once this step is done, it’s crucial to divide up funds into two checking accounts – one dedicated towards bills and utilities while another would be used on cash expenses such as groceries or haircuts.
Lastly, automate everything that could potentially be done automatically; from deposits and payments timing providing convenience as well peace of mind from human error interference.
A solid budget plan provides discipline which leads to planning long-term goals with minimal risk of running overspend or plunging into debt making living within one’s means easier than ever before!
The Key To Financial Wholeness Is Savin﷽G Like A Squirrel
We can learn a lot from our friends, the squirrels.
When they’re acorn season, they will go out of their way to gather and store their bounty for later – that’s investing!
No matter how much nut-gathering is done, when winter arrives and there are no more acorns in sight, the squirrels have nothing to worry about.
They’re already set as they have saved enough for what’s needed.
This goes to show us that having savings is important for times of need or uncertainty.
You won’t believe the peace of mind having those emergency funds ready can bring you.
To ensure you are good at saving, it’s essential to adapt a “saving like a squirrel” attitude- being mindful when spending and cutting back where necessary so that we still have enough left over to save in order to make money.
Start setting up separate accounts specifically for your emergency and personal savings goals with monthly transfers going into each account – this way it is easy to track without having all your savings mixed together in one big pot.
Make sure you get the best deal on your savings account possible and look into online accounts which may prove more beneficial in terms of interest earned while deterring impulse buys so that your stored money stays safe.
Remembering that “saving like a squirrel will bring you peace of mind” means employing conscious spending habits today that will benefit your future and relying on yourself however uncertain times may be!
Shift Your Thinking And Take Action For Debt Repayment To Improve Your Credit Score
According to Get Good With Money by Tiffany Aliche, becoming debt-free and boosting your credit score are two of the most important steps toward achieving financial wholeness.
Being debt-free is not only financially liberating, but it also allows you to focus on making money instead of being held back by debt.
To start tackling debt, you need to adjust your mentality and approach it from a positive perspective.
Create a list with all of your debts including amounts owed, interest rates, and due dates.
You can then choose between two main strategies for paying off your debt: the snowball method or the avalanche method.
The snowball method is where you pay off the smallest debts first, while the avalanche method is where you pay off whichever debt has the highest interest rate first.
It’s best to mix both methods so that you experience small and large successes along the way!
At the same time as getting out of debt, having a good credit score will enable better interest rates and great savings whenever you make purchases with credit like a house or car.
Your credit score should ideally be 740 or higher in order to achieve this goal and it’s crucial to look at your payment history over the past two years for any errors that may need disputing.
Additionally, credit utilization (the percentage of your credit limit used) must be under 30 percent in order to establish a healthy credit history and make sure any balance is paid off monthly!
Increase Your Income And Become Financially Stable With A Raise Or Side Hustle
If you want to see a significant increase in your income, then you need to focus on assessing your self-worth and building your skills.
This is the fifth aspect of financial wholeness, and its importance cannot be overstated.
It’s all about making sure that your value to potential employers is understood and rewarded accordingly.
This will make it much easier for you to get a raise or even find another job with higher earnings!
When negotiating a raise or an offer, arm yourself with evidence of how you’ve been benefiting the company financially.
Putting together a brag book which outlines all these ways can really help make your case.
Additionally, keep expanding on your existing skill set – transferable skills are particularly sought after by employers today!
Of course, if they don’t want to recognize nor reward your worth, go look for another job!
Make sure you always interview multiple candidates so that you’re well-prepared for when an opportunity comes up – often times men apply to jobs even if they know they won’t meet every requirement – why shouldn’t we do the same?!
Don’t forget that a 50% match is still better than a 0%.
If all else fails, consider taking up side hustles!
Figure out which of your skills can most easily be monetized and put together a goal e.g.
$500/month (that’s only just over $16 per day) and work towards it step by step until it materializes into something more serious like The Budgetnista author Alfiche who used to babysit and tutor on the side earning extra $6000 each year before her current success!
Investing Is Essential For Retirement And Wealth: Start Small And Do Your Research
When it comes to getting your finances in order, one of the most important things to do is invest for your retirement and wealth.
By investing in stocks, bonds, and other assets, you can make sure that your money grows over time and works for you.
The key to a successful investment strategy is consistency.
You should aim to contribute 20 percent of your income toward investments each month – whether you’re investing in a 401(k) through work or setting up a Roth IRA yourself.
Make sure the assets you choose to invest in are balanced between stocks for fast growth and bonds for steady gains over time.
Once you start making automated contributions, it’s important to keep that investment plan consistent and ignore fluctuations in the market.
Once you’ve established a retirement savings plan, consider investing further in wealth building opportunities like mutual funds or ETFs.
If this seems too overwhelming or expensive at first just start small- as low as $5 per month- and let your money grow from there!
No matter what financial position you find yourself in, make sure that your money is working hard on your behalf by investing consistently for both retirement and wealth building goals!
Get Good With Insurance To Increase Your Net Worth And Achieve Financial Wholeness
Did you know that getting good with insurance can help increase your net worth? It’s true – having the right insurance policy in place provides you with a safety net against any financial crises that may arise.
The first step is to get health insurance, preferably through an employer or healthcare.gov (for those who are self-employed and live in the U.S).
Life Insurance is also important for guaranteeing a lump-sum payment to your beneficiaries if anything happens to you.
Generally speaking, if you don’t have any dependents or much debt, it is not necessary to insure yourself; however, if you have a spouse, children or major debt, then make sure to insure yourself for at least ten times your income.
Additionally, disability insurance and property/casualty insurance are both important too as they will cover you in different types of scenarios.
Having all of these insurances in place will ultimately contribute towards one’s net worth.
By subtracting liabilities (what is owed) from assets (savings, stocks et cetera), one can calculate their net worth and set targets for increasing it over time – whether this be by focusing on liabilities or assets.
Furthermore, when making financial decisions it can be beneficial to keep one’s net worth in mind – such as paying upfront where possible as this often gives greater power when negotiating, as well as provide a psychological nudge to encourage spending less.
Having A Team Of Financial Professionals And Accountability Partners: The Key To Financial Wholeness And Leaving A Legacy
Having a trusted financial team is essential for reaching the ultimate goal of financial wholeness and ensuring you leave behind a lasting legacy.
Your team would depend on the complexity of your finances, but in general should consist of financial professionals like an accountant and attorney, as well as support staff such as a financial planner, insurance broker, and dream catchers (empowering people who enthusiastically aid you in financial growth).
Engaging these advisors to ensure your success is a worthwhile investment to make sure that you will not only be the boss of your life but also of your legacy.
Having a money team can guarantee that all aspects are accounted for when it comes to making sure those left behind are taken care of financially.
Taking steps such as identifying beneficiaries and writing a will can go a long way towards achieving the goal of financial wholeness.
Wrap Up
If you’re looking for some guidance on building financial security and wealth, check out Get Good with Money.
In this book, the author provides ten steps that can help you get your money working for you and achieve financial wholeness.
The first five steps cover budgeting, savings, debt, credit scores, and earning – essentially setting the foundation of financial stability.
The last five steps focus on growing and preserving your wealth through investing, insurance, increasing net worth, assembling a strong support team to look out for your finances, and passing down a legacy to those who come after you.
These ten steps can help you navigate life’s different stages when it comes to managing your finances.
Plus an actionable tip from the book is “Jump Like Jordan” – pick a small monthly debt like Netflix and get it charged to a zero balance card then auto-pay it each month after the statement closing date – follow this advice and watch your credit score soar!
