ChooseFI 464 | Budgeting Masterclass | Tiffany "The Budgetnista" Aliche
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Nov 20, 2023 
Financial expert and author Tiffany Aliche, aka "The Budgetnista," joins the podcast to discuss her 10-step system towards financial wholeness. They discuss automating payments, the importance of accountability partners, and designing separate accounts to reflect your needs. Building a financial foundation takes time and effort, but there is a supportive community to celebrate milestones with you. From budgeting to reaching financial goals, this episode offers practical advice and inspiration for your FI journey.
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Split Your Paycheck Before You Get It
- Use 'split it before you get it' to direct paychecks into separate accounts for spending, bills, and savings.
- Do the math once and let payroll or bank transfers enforce your budget automatically.
Separate Bills Checking From Spending
- Create separate checking accounts for spending and bills and avoid attaching a debit card to the bills account.
- Automate bill payments from the bills account so due dates and payment history build credit.
Use Separate High-Yield Savings For Friction
- Keep emergency and long-term savings in online high-yield accounts at different institutions to add withdrawal friction.
- Use the emergency account for short-term protection and the other for goals or pre-investment savings.