Tiffany ‘The Budgetnista’ Aliche’s Top 3 Tips to Save Money Now
January 04, 2023
It’s the start of a new year, and it’s the best time for a fresh financial start!
Tiffany “The Budgetnista” Aliche is a personal financial educator who knows what it’s like to struggle to maintain your finances. During her appearance on “The Jennifer Hudson Show,” she told JHud that in 2009 during the recession, she lost her teaching job, her house, and her financial savings. “It was a really tough financial time, and I never thought I was going to dig myself out again.”
She talks about planting “little seeds of faith” by saving even just $5 at a time. “I know that saving this $5 is not going to be financially transformative, but it’s a placeholder for when I can save $500.”
Here are Tiffany’s three tips for how you can start saving money right now:
Automatically set up your bank account to take money out at regular intervals and put it into savings accounts. “That makes your money inconvenient, and inconvenient money gets saved,” she said.
2. Raise Your Credit Score
“Bad credit actually leads to an expensive life,” she said. Bad credit leads to owing bigger deposits, getting worse interest rates, and more. “You want to focus on raising your credit score so you can spend less money and save more money.”
3. Challenge Yourself
Tiffany recommends starting with the 52-Week Challenge, which has you saving a little bit every week of the year incrementally. So week one, you save $1, week two, you save $2, and so on. By the end of the year, you’ll have over $1,300 saved!
She also recommends signing up for her “Live Richer Challenge: Savings Edition,” a three-week course made up of daily challenges that gamifies financial literacy. Over 200,000 people have signed up for it already, so you can learn how to save with others and don’t have to go through it alone. Learn more by visiting her website The Budgetnista.
Pick up Tiffany’s New York Times best-selling book, “Get Good with Money,” on Amazon or wherever books are sold.
“The Jennifer Hudson Show” airs weekdays. Here’s when to watch in your area.