Have you saved towards your retirement? Have you made any investments to grow your money? Are you like me, and tired of working extra hard but still feel broke? If you have answered Yes or No to any of these questions this article is for you. I recently caught up with the Financial GURU of our time, Tiffany “The Budgetnista” Aliche. She is an award winning, best- selling author, teacher, professional speaker and financial educator. In 2008, she became an entrepreneur and opened her own firm, “The Budgetnista” which is a professional and educational services firm that specializes in financial literacy.
She has been featured on the TODAY show, Pix11 Morning News, News 12 New Jersey, ESSENCE Magazine, FORBES.com, The Star Ledger, Ebony Magazine, FoxBusiness.com, MSNBC.com, Redbook, CBS MoneyWatch.com, Black Enterprise, USA TODAY, VIBE.com, as well as numerous online publications, just to name a few.
Currently, Tiffany “The Bugetnista” is the financial literacy expert for City National Bank and has been has been a featured speaker at American Express, Princeton University, Wyndham Worldwide, Columbia University, The United Way and more…just to name a few. According to her, her main goal is to help you to achieve a clearer understanding of how to more skillfully manage your money.
Recently LCC was able to catch up with the financial guru and here is what she had to say
LCC: How did you come up with the name “budgetnista”, and what was people’s reaction to first hearing it?
Budgetnista: When I first started I did a lot of volunteering with children and I wanted a name that was meaningful and fun. My little sister is the one that actually came up with the name. It was around the time “fashionista” was becoming popular and she mentioned Bugetnista and it just worked. My friends and family thought it was a “rappers name”, it was funny. My friend encouraged me to trademark it so now I own the name
Budgetnista: My friends inspired me to write this book. I was always good at managing money and they would always come to me for help and advice. The book first started out as a pamphlet, where I would describe steps to manage money and saving tips. Eventually, I decided to turn it into a book and help others.
LCC: In your book, you mentioned you were able to never have a car note, save 40k in 3 years, only making 35k in salary, how did you accomplish this?
Budgetnista: I saved my paychecks and I purchased my car in cash. I went to a car auction and purchased a slightly used car. The trick to buying a car is "getting a car that will last long such as a Nissan, Toyota, or Honda.”
LCC: Name one of your biggest money lessons you have learned thus far
Budgetnista: Just “get started” People are always scared to save so they do nothing. It does not take that long to save money if you start right away.
LCC: How did you get started forming your company Control Lead Develop (CDL) and your brand as the “bugetnista”?
Budgetnista: I started in 2008 teaching, I loved non- profit work and I did that for a while but then it stopped appealing to me. When I first started my company I sat on it for two years. I did nothing but incorporate the name. Then it hit me, I could teach people about finances and I could use the money I spent for teaching could be written off.
LCC: To a person in their mid 20s, what is one financial advice/ tip you would share
Budgetnista: I always tell people “pay yourself first.” Set aside 10% of your income per month and put it to a savings. Never spend that money until you are ready to retire. You can put it in a 401K or IRA but save the money. If you do this from your very first paycheck you receive you won’t miss the cash plus you will have a great savings account for when you retire.
Budgetnista: Purposely and passionately live your best life. If you are doing those things you are ‘living richer”
LCC: What do you enjoy doing when you are not working as the “budgetnista”
Budgetnista:I enjoy reading, naps, and traveling. I am very laid back. You can either find me at home, or I’m on the plane in another country.
LCC: As a business woman and a brand, how do you manage your personal and life and your career?
Budgetnista: Your business is your life, especially in the beginning. If you love your business your social life will revolve around it. It’s very important to love what you do.
LCC: Most people graduate college with bad credit, how important is a credit score when planning for your financial future?
Budgetnista:When you are younger your credit score is VERY important compare to when you are older. Your credit score is your “grade” that explains how well you manage money. As a young adult, “protect and grow your credit score”
LCC: What financial tips would you offer new couples that are about to merge their finances?
Budgetnista: Before marriage, the couple should expose their finances on a spreadsheet. Detail all of your income and debt. “Men lie, women lie, but numbers don’t!” Put everything in writing and this will help determine where you both need to improve your finances and it will also let you know if you can or can’t afford a new purchase.
LCC: Tell us one silly fact about Tiffany Aliche
Budgetnista:I’m very geeky. I believe I’m funnier than I really am LOL
For more information about Tiffany and her empire check out her website http://thebudgetnista.com