Reaching financial freedom is no easy feat, yet Tiffany Aliche, or the Budgetnista, brings a wealth of strategies to the table. She recently joined TheStreet to discuss her top financial insights, revealing the roadmap she followed to attain what she refers to as 'financial wholeness.'
Full Video Transcript Below:
J.D. DURKIN: Tiffany what is the best piece of advice for someone looking to take a bit more control over their own finances? I'm sure you got questions like that a lot.
TIFFANY ALICHE: Yeah, I do. So one is not to be so hard on yourself. And really automation is the new discipline. If you can set up a series of automations and then just check on them. So I like people to split their check before they get their check. For example, you can go to HR or payroll and say, put my check instead of into one checking account, into two checking accounts and two savings accounts. So that's a Bills account, a spending account. Those are the two checking a goal account and an emergency account. Those are the two savings. That's like budget. Without budgeting, you can automate your bills, automate your retirement investments, automate your Wealth Investments. Automation is the number one thing you can do for your money, especially if you're just starting out.
J.D DURKIN: What are some key financial habits or basic practices that have contributed, I wonder, to your own personal success?
TIFFANY ALICHE: Once I realized that I was working towards something called financial wholeness. And that's where my new book made whole is about, which is these 10 components that's budgeting, saving debt, credit, income, investing, insurance, your net worth, your financial team and estate planning. Once I realized that it was my job to master and maintain those 10 things and that financial wholeness didn't mean that I was going to have a pile of money and I didn't have to work anymore. But it meant if another recession came, I would be OK. If I lost my job, I would be OK if interest rates are high. As it relates to borrowing, I would be OK. Financial wholeness is the foundation of your financial life. And so for me, once I understood that my job was to get to financial wholeness, I decided I was going to spread the word. And I wrote the book made whole to help other people get there to.
