Expert tips for achieving financial wholeness

Tiffany Aliche, known as the Budgetnista, joined TheStreet to discuss her tops tips for achieving financial stability.

Transcript

00:00 What is the best piece of advice for someone looking to take a bit more control over their

00:04 own finances?

00:06 Really automation is the new discipline.

00:08 If you can set up a series of automations and then just check on them.

00:12 So I like people to split their check before they get their check.

00:16 For example, you can go to HR or payroll and say, put my check instead of into one checking

00:21 account into two checking accounts and two savings accounts.

00:24 So that's a bills account, a spending account.

00:27 Those are the two checking or goals account and an emergency account.

00:30 Those are the two savings.

00:32 That's like budget without budgeting.

00:33 You can automate your bills, automate your retirement investments, automate your wealth

00:38 investments.

00:39 Automation is the number one thing you can do for your money, especially if you're just

00:42 starting out.

00:43 Stephanie, what are some of the key financial habits or basic practices that have contributed,

00:48 I wonder, to your own personal success?

00:51 Once I realized that I was working towards something called financial wholeness, and

00:55 that's what my new book, Made Whole, is about, which is these 10 components, that's budgeting,

01:00 saving, debt, credit, income, investing, insurance, your net worth, your financial team, and estate

01:07 planning.

01:08 Once I realized that it was my job to master and maintain those 10 things and that financial

01:13 wholeness didn't mean that I was going to have a pile of money and I didn't have to

01:16 work anymore, but it meant if another recession came, I would be okay.

01:21 If I lost my job, I would be okay.

01:23 If interest rates are high, as relates to borrowing, I would be okay.

01:28 Financial wholeness is the foundation of your financial life.

01:31 For me, once I understood that my job was to get to financial wholeness, I decided I

01:36 was going to spread the word and I wrote the book, Made Whole, to help other people get

01:40 there too.

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