In every episode of the “Thrive 5” podcast, we talk to notable women about how they thrive in this world, and explore how taking care of our well-being is inextricably linked to our confidence and resilience. And while we don’t hear enough about the connection between our financial well-being and our overall wellness, there’s an undeniable link. So this week, host Clarice Metzger chats with Tiffany Aliche, the money pro behind The Budgetnista — a website dedicated to making financial education accessible to women worldwide.
Here’s a little of what Tiffany had to say…
On the importance of a “health and safety budget” when you’re in financial hardship:
“When I was struggling financially in the past, I wish somebody would’ve told me, ‘It’s OK not to pay’ — at least temporarily. I didn’t know this, so I drained my retirement account — money that you can never get back — in an effort to save for a house, and I ended up losing anyway. In fact, someone reached out to me the other day and said, ‘Tiffany, I’m going through a rough time and I don’t have enough cash for some of these bills. What should I do?’ I told her that it was time to switch to what I call your ‘health and safety budget’ — this is when you look at each line item of your expenses and ask yourself, Do I need this to maintain my health? Do I need this to maintain my safety?”
On why giving can lift you up when you’re feeling down:
“Whenever I am having a pity party, I remind myself that I’ve been watching ‘The Tiffany Channel’ for too long — it’s that ‘me, me, me; I, I, I’ mode — and it’s depressing. So then I turn the channel, and the way I turn the channel is through volunteering. I ask myself, Is there someone or an organization that needs help? Helping other people brings light back into my life.”
On building financial confidence:
“Women are taught that money is a man’s job. That’s not true! Even I used to tell myself things like: I’m good at ‘easy money things’ like budgeting and savings and getting out of debt. Number one, those are not small things! And two, that’s just not true. It’s just that women are told that intrinsically we are not good with finances, and it’s something that you leave to men. I wish more women understood that the skills that you need to manage your money are not that hard. You already have all the skills. You can add and subtract? Girl, you’re good.”
On finding joy, even when you’re unemployed or underemployed:
“Now is the perfect time to dust off that dream project. I’m not talking about a dream that has to make you money. Sure, sometimes it might be a business endeavor, but it might not be. You really love crocheting? OK, so tell yourself, ‘While I’m trying to figure out what I’m going to do with my life, I’m going to get out the knitting needles and crochet a hat!’ It’s an outlet for you to experience joy — just for the sake of joy. Life is meant to be enjoyed even as you’re going through tough times. So as you look for a job, as you tighten your belt, as you try to spend less, as you try to hunker down, also make room for joy, and be intentional about bringing that into your life.”
To hear more from Tiffany, listen to her full podcast episode. “Thrive 5” is available on iHeartRadio, Apple Podcasts, or wherever you get your podcasts.