Blog

My Top 5 Financial Goals of 2023

Whether we’d like to think so or not, it’s unavoidable: 2023 is on the horizon.

That is slightly terrifying for me to say, since I graduate college in 2023. Soon, I will be leaving behind the only career I have ever known, and that’s as a student. While I am in shock that it came about so soon, I feel strangely more ready than I thought I would to embark into the real world. I am so excited to have a reliable, steady income. I am enthralled to finally be able to climb a corporate ladder and achieve my lifelong goals. I also cannot wait to be working in the industry that I have been enchanted by since I was a little girl.

What does this mean for me financially, though? It means that it’s about time that I started creating my goals for 2023. I did this same thing for 2022, and it really helped me stay on track throughout the year. Of course, my goals evolved a lot over the span of the past eleven months, so I’m expecting my goals for 2023 to do the same. However, creating this blueprint is absolutely vital for starting out the year on the right foot. 

What are my goals for 2023?

I have had a few goals laid out for the year 2023 for as long as I can remember. Many of them revolve around becoming fully financially independent. A lot of them involve creating a cushion of savings for myself, which will ease a lot of my anxiety heading into adulthood. Without further ado, here is my top 5.

Let’s get into the specifics:
  1. I want to have $1,000 in an emergency fund by the time I turn twenty-two. This goal is my main priority, and it has been since 2021. I have been trying to save for an emergency fund forever, and I finally hope to achieve this in 2023. It would just be so incredible to have a cushion of safety in my bank account. Eventually, I would love to increase this to 3 to 6 months of living expenses, as is recommended by professionals. However, $1,000 is the starting point that is recommended, so I plan on sticking to that.
  2. I would love to spend less than $1,000 total (on non-essential things). Hold the phone. I know this sounds a little absurd, but it’s my truth. I would love nothing more than to keep my spontaneous purchases down to less than $1000. I spend so much money each year without even thinking about it. I just say to myself, “Sure! What’s $30?” Sooner or later, those $30 purchases begin to add up. I plan on tracking my every purchase in 2023, and making sure that my unnecessary spending does not exceed $1000.
  3. I want to begin paying off my student debt, so that I can achieve my goal of having zero debt by the end of 2024. Like many American students, I am drowning in debt! I do not want to carry this with me for long, so I plan on grinding for the next few years in order to pay it off. Any monetary gifts I receive? They’ll go toward paying off my loans. There is nothing that I want more than financial freedom, and paying off my debt would be an incredible place to start.
  4. I would love to begin investing in a Roth IRA. It’s never too early to begin saving for retirement! The sooner you begin putting money in a Roth IRA, the sooner interest can begin compounding. When I am able to retire someday, I will be so incredibly thankful to my younger self for starting early. It will allow me to really maximize the value of my money.
  5. I want to set up a brokerage account with Vanguard to begin investing. I love the idea of investing in index funds. They are reliable, and basically as risk-free as investing can get. In order to begin a brokerage account with Vanguard, you need $3,000. I hope to save up enough money to begin my investing journey.

So, those are my goals.

And I hope you’ll stick around to watch me absolutely crush them. Follow me on Instagram, Facebook, and TikTok for updates and goal-related content.

Strategies to Implement to Save Money

I’m at a stage in my life where cost-effectiveness is everything to me.

If it’s not on sale, I don’t want it. That’s been my slogan since I was thirteen years old and I got my first babysitting job. I’ve always been cautious about my spending, since I grew up understanding that money is an incredibly precious resource. Obviously, the act of not spending money became a lot more difficult once I moved out of on-campus housing and got my first apartment. All of a sudden, I had bills like a real person. I had to pay for groceries, and not just snacks, but whole meals. There are a lot more day to day expenses in adult life than you realize as a teenager.

I’ve struggled for a long time with the amount of money I have to spend simply just to survive. As a result of this, I’ve tried to find every possible way to save money. I’ve been living on my own for about a year and a half at this point, so I’ve gathered a list of tricks. Today, I’m sharing my methods with you.

What are my favorite tricks for spending less cash?

Loyalty is everything.

I am a Kroger girl through and through. I rack up my rewards for grocery shopping there, and each month I get a packet of coupons tailored to my purchasing preferences. This allows me to save money on items that I purchase repeatedly, as almost every time I step into the store, I have a sandwich bag of coupons in my purse. My local Kroger also has a gas station, so I also get my gas at Kroger. Since I am so loyal to Kroger as a brand, I always get savings on my gas. Each month, I get ten cents per gallon off of gas. Since I only have to get gas about once a month, I save a few dollars with each trip.  Basically, remaining loyal to Kroger consistently keeps money in my pocket. I would 10/10 recommend this strategy if you’re thinking about it even a little bit.

Save the environment (and your change).

Invest in reusable products! This has been a game changer for my roommate and I this school year. I noticed throughout last year that we were consistently running out of paper towels, and always needing to get more. Not only did this spend a lot of money, but it also created a lot of waste. I started thinking about the things I used paper towels for, and for the most part, it was washing my hands or cleaning. When we moved into our new apartment, I decided to buy a pack of microfiber cleaning rags. Thanks to the cleaning rags, our paper towel usage has gone down by so much. Additionally, we always keep a dish towel above our sink now. This way, we can dry our hands without a paper towel. Thanks to this slight change, I can’t even remember the last time we bought paper towels.

Another strategy my roommate and I implement is reusing our plastic bags. Everybody on planet Earth knows this one, but I figure I’d throw it in here anyway. Those plastic Kroger bags you get with every trip? Build up a collection of them in your pantry or broom closet. You could use them as trash bags for your smaller trash bins. If you have a dog, you could use them on walks to pick up their messes instead of buying special bags. It’s an obvious, easy solution to many problems that people typically spend money to fix.

Here’s another one! Watch how much you are spending in utilities! In my house, we pay for electricity, gas, and WiFi. Obviously, WiFi is a set price. However, as far as our gas and electricity bills are concerned, we try to conserve energy and our funds as much as possible. Whenever we are not actively using a room, we make sure its lights are turned off. Our gas is only used for our heating system, so we typically try to keep the temperature low. We are both comfortable this way, since our parents both used the same tricks. Overall, these little strategies help us save money and conserve resources!

Plan your meals.

I had an internship for about eight months of this year that required me to work through lunch time. I was often hungry at work, and I found myself getting takeout all too often. After a bit, I started noticing that the lunch expenses were really adding up on my monthly credit card statements. In order to remedy this, I decided to implement meal planning into my daily routine. I had to get some food storage products so that I could start doing this, but it ended up saving me a lot of money. I started planning out and preparing for meals at the beginning of each week. Not to mention, it saved me so much time and extra thought during the week! All I had to do prior to leaving my apartment was grab my lunch out of the fridge and get going! 

I also noticed that meal planning helped me save money in groceries each month. When you know exactly what you’re shopping for, you tend to spend less money on random stuff you see as you’re perusing the aisles. I also noticed that planning and eating three square meals a day made me much less hungry throughout the day, and it gave me more energy. Long story short, If you take an hour to meal plan each weekend, you’ll end up saving time, money, and your mental and physical health. If you need a push to get started, there it is.

Tah-dah! Those are my tips!

That’s a little bit of what I’ve learned over the years. I’ve still got a lot of lessons incoming, but I’m proud of how far I’ve come. If you liked these tips, and you’re interested in keeping up with my journey, follow me on Instagram, Facebook, and TikTok for more!

How To Help Families In Need for Christmas

The holiday season is the most wonderful time of the year for many people. However, for some, it brings much more stress than joy.

Of course, I’m too young to have been in this position myself. I am twenty-one years old with no children counting on me to grant all their wishes. However, I’ve known families in need over the course of my life. Parents and children of these families feel inadequate, which is incredibly sad, especially when the circumstances of their financial instability are out of their control. 

What can we do for families in need around the holidays? How can I get involved?

This all depends on your personal financial situation. If you are in a place where you are able to give, there are an incredible number of places where you can do so.

You’ve probably heard some of them in the past, but here are a few ideas: 

Toys for Tots

Toys for Tots is an incredible organization that helps children from less fortunate families receive Christmas presents. The easiest way to donate to this organization is to find a drop box near you and provide for that specific location. However, there are other ways to get involved and make an impact. 

On their website, you can start a fundraiser in order to lend monetary support to the organization. There is also a virtual donation box, where you can virtually donate toys and gifts instead of donating to a physical Toys for Tots drop box. Additionally, Toys for Tots began a literacy program in 2008. You can donate to this program, which helps provide children with more opportunities to read and develop crucial comprehension skills. 

Giving to Local Programs

If you’d like to make an impact closer to home, there are several routes that you could take to get involved in your community. For one, you could reach out to local organizations who are hosting Giving Trees. Many churches take part in this tradition each year, so you could start with churches in your area. Many school districts and individual towns also have special funds dedicated to helping the families of young students around the holidays. You could ask if your town or local school district has one, and how you could contribute to these funds.

Food Drives & Food Pantry Donations

This option is often a lot more affordable. If you’re looking for a more low-cost option, you could pick up some goods at your local grocery store and donate them to a local food pantry. If you wanted, you could even check in your cabinets for dry goods that you won’t use. So many of us have extra food and grocery items just sitting idly around our house! Even if you have to go out, you could make a serious difference in somebody’s holiday season with a ten-minute, ten-dollar trip to Kroger.

If you aren’t in a place to give monetarily…

Donate your time!

Even if you can’t give to one of the organizations I mentioned, many of these organizations need help coordinating their operations. One year, I wrapped presents for a Giving Tree that my church was hosting. It was fun for me, since I enjoy gift wrapping, and it also made me feel like I was giving back to my community. Additionally, I volunteered some time at a food pantry in high school. It’s amazing how much help they need organizing donations. Any way you can get involved will be a huge help to the organization you’re working with and the community it supports.

Just be supportive. Especially if the person experiencing financial hardship is near and dear to you.

Be kind to everyone, no matter what. You never know what an individual or a family is going through. Try to be a support system for anyone who asks for your love and understanding. Offer prayers if you are religious, or spend your time uplifting the person in need.

That’s all I’ve got for now.

Go out and make a difference this holiday season. If you want, check out my previous blog about budgeting for the holidays!

The Best Social Media Creators in Finance

Social media has its ups and downs.

Social media is an incredibly powerful tool, and there is no denying it. We are living in an age where, because of social media, we can market more effectively and personally. Engaging with our friends, loved ones, and even mere acquaintances, is possible on a daily basis. It’s creating opportunities for us each day. However, it’s also creating horrible cycles of comparison for many people. Others are becoming more materialistic, since more personalized ads are available at their fingertips, encouraging them to spend money. If you don’t use social media in a way that serves you, it can become toxic quickly.

How do we use social media in a way that is healthy for our minds and our wallets?

I’ve found my peace on social media by following likeminded creators and individuals. If someone’s account is disturbing my peace, I decide to unfollow their accounts. Off the top of my head, I can already think of several examples. I have recently been unfollowing a lot of brands. Of course, I know what brands I love and decide to remain loyal to. However, I caught myself scrolling through their products and debating making a purchase more than I would like to. As a result, I decided to unfollow these brands. This way, I was less tempted to buy things, when I would really rather have the money in my savings.

Okay, now that we’ve got that covered, who are my favorite personal finance creators on social media?

There are so many amazing personal finance creators on social media. Each day, they inspire me to progress through my journey and make steps in the right direction. Without further ado, here they are.

Tori Dunlap (@HerFirst100K):

Tori Dunlap saved $100,000 by the time she was 25 years old. She’s known around the web for her incredible courses, blog, and content, each of which is dedicated to fighting the patriarchy through educating women about their finances. Follow her for relatable memes, money tips, and more.

Rachel Richards (@MoneyHoneyRachel):

Rachel Richards is a creator known for sharing her journey in the FIRE movement. FIRE stands for Financial Independence, Retire Early. She famously retired at 27 and now owns a large quantity of investment properties, making her income passively. Of course, becoming a member of the FIRE movement does not need to be your end goal, but Rachel’s involvement in it makes her a pretty great source of finance tips. 

Lily RN Budgets (@LilyRNBudgets):

Lily RN Budgets has made waves in the finance community on TikTok. When she’s not creating helpful PDFs to allow her viewers to budget their money, she is using her products to organize her own finances. She shows herself allocating her paycheck to certain expenses, sinking funds, and savings goals. Lily is also incredibly transparent about her income and personal goals, which has allowed her to build an incredible bond with her community. Follow her for an incredible example of what absolutely everyone should sit down and accomplish each payday.

Ellie Withers (@TheLady.Fire):

Between her adorable pink graphics and the tips they contain, Ellie Withers is absolutely killing the personal finance creator game. She recently has grown her community to over 6,000 individuals on Instagram. Like Rachel, Ellie is a member of the FIRE community. She shares incredible savings tips, while also updating her community on where she stands and the meaning behind the FIRE community. 

So, there you have it.

Those are a few of my absolute favorite financial creators. Did you happen to notice that they’re all women, too? I am so inspired to pave a successful financial path for myself as each of these lovely ladies has. I couldn’t be more grateful to learn from them, and I couldn’t recommend their content more.

Did you like these tips?

There’s more where that came from! Check out my other blog posts right here. I’m so excited to be on this journey with you!

Budgeting for Christmas Spending

If you celebrate Christmas and are obsessed with it like I am, you’ve come to the right place. 

It’s the most wonderful time of the year (for people who enjoy buying gifts and have the means to purchase them). It’s also one of the most expensive times of the year. In order to shower our loved ones in gifts, we end up dropping hundreds of dollars each holiday season. We are also bombarded by “holiday savings” campaigns such as Black Friday and Cyber Monday. If you’re like me, spending a ton of money on gifts when you aren’t totally prepared is a bit stressful. This year, I wanted to make it easier on myself. I wanted to find a way to not leave the holiday season feeling like all my money had disappeared. 

How can you budget for Christmas spending in advance?

There are a few ways that you can do this, but my favorite is the sinking fund. Sinking funds are a short-term savings fund that you eventually deplete and then build back up again. They can be kept anywhere that is easily accessible. If you enjoy using cash, you can build up a cash fund and collect it until it reaches your desired amount. I prefer to deal with all of my money online. If you’re more like me, you can create a separate high yield savings account or regular savings account and transfer your desired amounts to it. Then, when you’re ready to spend the fund, you can move your money wherever you need it to go!

Here’s a bonus tip! If you use credit cards and receive cashback, you could also collect your cash back throughout the year and use it to help supplement your Christmas sinking fund! I did this throughout 2022, and by the time I start making purchases, I’ll have about $150 in cash back.

Okay, cool. So how do I make sure I have enough in the sinking fund for Christmas gifts?

This part is really all up to you! I operate using the 50/30/20 rule, so 20% of every paycheck I make immediately goes to my savings goals at the moment. I’ve noticed that if I start saving early for any given goal, I can save in smaller increments over longer periods of time. This allows me to focus on my larger goals more, which is what I prefer at this stage in my journey. 

All you really have to do is some quick math. If you get paid $1000 per paycheck, 20% of your income would be $200. Maybe out of this $200, you decide that each week of the year, you’ll contribute $20 to your Christmas sinking fund. The holiday shopping season begins whenever you decide that it does, but I usually start shopping around Thanksgiving for gifts. This would mean that I have saved $20 biweekly for the past 47 weeks (Thanksgiving occurs in the 47th week of the year in 2022). By that math, I will have saved about $470 toward my Christmas sinking fund. 

Depending on how many people you’d like to buy gifts for, and how much you’re willing to spend on them, you can adjust this amount. For instance, you could contribute $5 or $10 to the fund with each paycheck instead. You could also put a cap at the fund. Maybe you decide you really only need $400 in the fund. You could contribute $20 per week until the fund hits $400, and then decide to put your money elsewhere. 

So, there you have it!

These are a couple ways that you can save up to buy everyone you love a Christmas gift ahead of time. It makes for a much smoother and peaceful holiday season, and I am so glad that I decided to implement it early in my financial journey. Want to see more tips and tricks just like this? Subscribe to my mailing list! You can also follow me on Instagram, Facebook, and TikTok for more content! Now, it’s time to put up my Christmas tree.

Tips for Saving Money This Black Friday

It’s absolutely wild to say, but today is Thanksgiving! How did that happen?

It seems like the past few months have absolutely flown by, and I am shocked that we’re here already. I just wanted to take some time to say thank you to anyone who is taking the time to read my little blog. I am so excited to see what the future holds for Belle In Full Bloom, and what future it has is all thanks to your kindness and support. This project has allowed me to grow in several different aspects, both personally and professionally. My creativity levels have been through the roof lately, and I truly believe that’s as a result of this blog. 

From the bottom of my heart, thank you. Happy Thanksgiving if you’re from the United States. Go eat enough turkey and mashed potatoes and stuffing to feed a medium-sized yeti. Sending so much love.

Right, anyways. Enough with the sappiness. Let’s get into it.

You know what Thanksgiving means. Yes, turkey. Absolutely, your weird third cousin twice removed will probably say something out-of-pocket in front of your family. Of course, someone will have one beer too many. However, I am not talking about these things. I’m talking about Black Friday.

Black Friday is the most chaotic, highly-anticipated, psychotically crowded shopping day of the year.

You’ve probably been seeing advertisements for the deals being offered since Halloween. You might even be planning on buying something. If you’re like my family, you love a good deal, so you might even feel like you should buy something. It’s hard to resist when your favorite store is offering some crazy good promotion. Black Friday marketing has been working for years, and it’s going to continue to work because people will never stop falling for it.

Thousands of people are going to get up at the crack of dawn and venture out of their house this Friday to buy something they can’t afford. I’m not here to shame them whatsoever, but I would love to bring awareness to the issue. 

You didn’t ask, but I’m giving them to you anyway. Here are a few of my favorite tips for not breaking the bank on Black Friday.

If you weren’t going to buy it in the first place, it’s not a deal.

Spending money on something that you don’t need, or something you weren’t planning on getting from the get-go, means spending money unnecessarily. For instance, I love the clothing store Madewell. For Black Friday, Madewell is offering 40% off on all purchases. If I came across a pair of jeans that I liked and spontaneously decided to buy them because of their sale price, I really am not receiving a deal. Why? Well, I have plenty of jeans, and I wasn’t originally planning on buying them. Had I not been convinced by the deal, I would have spent no money at all.

Check the prices on the things you are buying, just to be sure.

When you are making purchases at stores such as Target, Walmart, or Amazon, always check the prices of your item on a competitor’s site. Sometimes, one of them will be offering the product for much cheaper. Not to mention, a lot of these stores will price match. This happened to me a few years back when I was shopping for a Christmas present for my sister at Target. I found the same product I was buying for her at Walmart for a few dollars cheaper and asked the cashier to match Walmart’s price. A few clicks later, I walked out of the Target with a Walmart-priced item.

Only spend money that you have.

If you’re going into credit card debt to buy an espresso machine, someday you are going to regret it. Trust me, I’ve been wanting an espresso machine for years and I can tell you that no amount of on-demand lattes would ever justify debt and a rapidly decreasing credit score. Start a sinking fund for the items that you really want, and buy them at full price when you have the necessary cash. Or buy them on the Black Friday after you reach your goal amount. I’m telling you, it will be so much more rewarding.

Okay, I’m done now. I promise.

In all seriousness, those are my Black Friday shopping tips. Honestly, they are not even targeted toward just Black Friday, but shopping as a whole. Black Friday really just makes it a point to bring out the consumerist in everyone, even when that is potentially damaging to their financial health. I just wanted to remind you of that before you wound up in line at a Walmart somewhere questioning all of your life choices. It happens to the best of us.

Like what you hear?

Follow me on Instagram, Facebook, and TikTok for more sarcasm and brutal honesty. It’s a lot more fun than it sounds.

The Best Strategy for Credit Card Usage

You’ve probably heard the rumors that credit cards are the root of all financial evil.

They have a really terrible reputation, but that is simply because people don’t use them correctly. In all reality, credit cards are a really great tool for improving your credit score. They also can have really great benefits that allow your money to work harder for you. I got my first credit card when I was eighteen, at the advice of my father. From the get-go, I used all of the right strategies to ensure that having the card would only benefit me in the long run.

Today, I’m going to take you through my strategy for using credit cards.

I’m not far along in my finance journey, but my credit score is my pride and joy. This is how I keep it as high as it is.

First, I only spend money that I have.

When people think about credit cards, the first thing they think about is the balance they hold. The monthly balance on my credit card is currently $2000. This means that in any given month, I could charge up to $2000 on the card. Many people who hold credit cards think of the balance more as free money. They’ll spend the full $2000, which they ultimately can’t pay back. When no payment is received that month, they start to owe interest on the full amount. This person will keep spending more money they don’t have. Interest will build on the amount they owe, until they are in tens of thousands of dollars of debt.

As soon as my shiny new Discover card came in the mail, my father told me not to do this. Some people don’t receive this education, but I was lucky to. He told me to use it for any normal purchase I would make on my debit card, and then pay it off at the end of every month. My dad also made sure that I knew to only spend money that I had immediately. If I had $500 in my checking account, I was not to spend more than $500 on my credit card. This way, I could always pay the bill when it was due.

That’s pretty much exactly how I do it to this day. I’ve added in a few extra rules for myself, but that’s the gist. Any money I would normally spend on my debit card, I put on my credit card instead. I don’t use it for big purchases or bills, such as rent. That just comes straight out of my account, so that I’m never spending too much money on the card. Mostly, the expenses on my credit card end up being for my groceries and entertainment costs.

Next, I only use a certain amount of my balance.

In order to give my credit score the most boost, I tend to only use my credit card for a maximum of $600. Your credit score contains a section called “revolving utilization”, which is essentially the amount of your balance you use each month. To create the best credit score possible, you should only use 33% of the balance of any given card. For instance, my balance is $2000. 33% of $2000 is $660. Once I spend $600 on my credit card, I begin putting my purchases back on my debit card. There have been a few months where I didn’t do this, and my credit score decreased by a fairly substantial amount in those months.

If your credit card balance is $1000, you should only use $330 of your balance. If it’s $1500, you should use $495. I’m sure you get the point by now, but I figured a few more numbers might help as a frame of reference.

Finally, I always pay my bill on time.

To be entirely honest with you, I actually pay it as soon as I get the notification that my statement is ready to be viewed. This way, I will never forget. It’s a super easy method to implement–it just requires turning on notifications from your credit card provider. My statement pretty much always becomes available on the 18th of the month, and then it’s due on the 11th of the next. In essence, my bill is always paid three weeks ahead of time.

Voila! There you have it.

That is my exact methodology for using my credit card. So far, I only have one. I’ll probably open a second relatively soon. Currently, I have a Discover It Student card, but I would love to open one with travel benefits. I have loved my Discover one, so I’m hoping to keep that one open too. There are so many benefits to holding credit cards

Like what you’ve read so far? Follow me on Instagram, Facebook, and TikTok for more! You can also read more of my blogs here!

 

Get Started: Your Personal Finance Journey

Personal finances are intimidating. Especially when you have no idea what you’re doing.

I’ve acquired a lot of knowledge about personal finance over the years because I find it incredibly fascinating, and I want to set myself up for success. As of right now, I don’t quite have the means to put it in motion (thank you, full time undergraduate degree program), but I still have a pretty solid plan for my finances once I’m finished with school. If you have no idea where to start, or what you should be doing, I would love nothing more than to help you out. There are so many steps that you could take first in your financial journey, but there’s a certain order that financial experts often put them in.

What do I do first?

The first step in every financial journey should be an emergency fund. Many personal finance gurus recommend that you keep the fund tucked away in a high yield savings account, where it will accrue more interest over time. Typically, experts will recommend that you begin with $1000 and then increase the fund eventually. Ideally, this emergency fund should house about three to six months of living expenses. This way, if you were ever in a true emergency, you could still be financially secure. You would know that you could still have a roof over your head, or money for groceries, or a car. It allows you to live your life with so much more peace of mind. I am currently in the process of building my $1000 emergency fund, and I could not be more excited about it.

Okay, I’ve got the emergency fund saved up. What now?

Now, we tackle your debt. There are so many different ways that you can do this, but my favorite is the Debt Avalanche Method. In this strategy, you list all of your debts out by interest rate from highest to lowest. From there, you’ll begin paying off the debts in this order. For instance, I have a few different federal student loans. The highest interest rate out of all of them is 4.990%, and the lowest is 2.750%. When paying off my loans, I am going to be starting with the loans with the 4.990% interest rate. This way, I end up paying less in interest in the long run. 

Another method you could use to pay off your debt is the Debt Snowball Method. In this strategy, you start by paying off your smallest debts first. Let’s say that you have $3000 in credit card debt, a federal student loan for $5000, and a private student loan for $10000. In this method, you would start by paying off the $3000 in credit card debt. The reasoning behind this is that the debt payer will feel more accomplished in using this method. That $3000 loan will get paid off quicker than the other two, which motivates you to stay at it for the long haul. It’s understandable why people would like this methodology, but I would personally prefer to pay less interest on my debt. Honestly, I also don’t think I will need extra motivation to keep paying off my debts. I mean, I’m writing you a blog post about how I plan to do it.

Cool. I have paid off all my debt (or most of it) and I’m more financially free. Where do I go from here?

Okay, now would be a great time to start working on putting more of a buffer in your emergency fund! If you’re at $1000, calculate what a few months of living expenses would be in total for you. Once you’ve got the number, you’ve got your goal! 

Additionally, now would be a great time to start investing. I know that’s a terrifying word (I, too, am also terrified of it), but it’s the only real way to grow your wealth. I’m not as educated in this department as I’d like to be (I am working on it), but from what I have heard, there are lots of ways to make it less scary. For one, you can use a robo-advisor. For these accounts, you can pay an extra fee for a computer system to decide which stocks to put your money into. Many robo-advisor accounts will also balance out your ratio of stocks to bonds if it gets out of whack. Basically, it does more of the hard parts for you, which leaves some people feeling much more comfortable. You could also use the more traditional financial advisor route, and have an actual human being help you invest your money. However, this can become a lot more costly.

Okay, so what’s your plan for investing?

You guessed it, I’m not doing either of those things! Why, you might ask? Because I’m cheap, of course! When I begin investing, I plan on doing it the DIY way. It is the most cost effective, and really, you don’t need to over complicate investing. I’ve done a decent amount of research on index funds, and I know that that’s where I want to put my money. They have a great track record, which I love, and they’re a lot more accessible. Vanguard is known for their index funds and low trading costs, so I will probably open up a brokerage account with them. Many people would probably say that my idea of the perfect investing path sounds lame, since index funds are the opposite of a get-rich-quick scheme. However, I find comfort in knowing that in these funds, my money will be growing safely over time. I’ve never been someone to take extreme risks with my money, and I would rather keep it that way, even if that means waiting for interest to build.

That’s just my personal plan, though! If you’re looking for more of a gamble, have at it. I would never try to tell you exactly where to put your money. I’m just here to share what knowledge I have acquired with other powerful women who deserve financial freedom.

Woohoo, I’ve done the investing thing! Now what?

Keep at it! Continue building your emergency fund, keep investing, and start more sinking funds. Maybe you want to buy a house now, so you start a high yield savings account for a down payment. If you want to travel, start a fund for all the destinations you want to hit! The world is your oyster. Your journey is your journey, and you’re doing all the right things!

I’m only at the start of my journey. Wherever you are in yours, I would love to support you. Connect with me via email here, or follow me on Instagram, Facebook, and TikTok. I’m so proud to be doing this thing with you!

7 Great Things To Do On A No-Spend Day!

Looking to have fun this weekend, but not in a way that will break the bank?

You and me both! However, that’s definitely easier said than done. Your friends will try to make plans to go out for dinner and drinks, and God knows that’s expensive. Maybe your mom will want to go to the mall for a shopping spree. You can tell yourself as many times as you want that you absolutely will not buy anything, but you probably will. Both of these have happened to me, and they might be fun as they’re happening, but at the end of the night I always end up in a shame spiral. That part? Pretty painful, honestly. 

No-spend days are great to implement if you are working toward savings goals.

They’re pretty self explanatory, too. On a no-spend day, you don’t spend a single dime. You can designate as many days as you’d like to be no-spend days: once a week, twice a month, or whatever else works for you and your money. No-spend days allow you to find patterns in your spending. Are you always inclined to buy coffee in the morning, or lunch during your break? Do you tend to lean on retail therapy as a coping mechanism if you had a bad day at school? You can learn so much about yourself and your financial habits through deliberately withholding spending money.

Okay, then what do I do on a no-spend day?

You might be saying to yourself “that sounds great, but what do I do then?” To be completely honest, you’re not wrong in that! Not much is free these days! However, you might have more to do just laying around your house than you ever even knew. So, this weekend, I challenge you to take charge. This time, you make the plans! Tell your mom to save the shopping for another day, and invite your friends over for a night in instead. To get your no-spend day started, here are some ideas for you.

Here are seven things you could do on your no-spend day this weekend:

  1. Cook yourself nice meals. Using whatever ingredients you have in your fridge, throw together a nice meal for yourself. By nice, I don’t even mean fancy. On my latest no-spend day, I made myself boxed rice pilaf, breaded chicken, and frozen broccoli. It just felt nicer than my usual rushed meal, and that was so relaxing. You could make yourself pancakes for breakfast in the morning, or french toast. Cooking can be super entertaining, and it keeps you occupied.
  2. Similarly, bake something! Pretty much everyone has simple baking ingredients laying around their house. Make cookies, or the box of brownies that has been sitting inside your cabinet for a year. Yeah, you know the one.
  3. Have a board game night. My friends and I absolutely love to play board games together. Have everyone bring over their favorites and take turns playing them. If you don’t have board games, write up prompts for charades. We’ve done this one a few times too, and it’s always so fun. 
  4. Have a PowerPoint night. This one was a trend on TikTok during quarantine, and it still never fails to win people over. Invite over some friends, and tell them each to prepare a PowerPoint on any given subject. If you want, create a theme. My friends and I did this, and the subjects are burned into my mind forever. Mine was about which of my friends would survive in the Purge, and why. Someone wrote up their PowerPoint about why Peppa Pig is a symbol for a communist revolution, and another ranked all of our first kisses. Prepare yourself accordingly, because this one can get so out of hand.
  5. Read the book that has been on your nightstand for six months. This one is definitely subtweeting me a little bit. I absolutely adore reading, but sometimes I get so caught up in the craziness of life that I forget to pick up a book. Take this time to get lost in that book!
  6. Go for a walk! Walking is good for your physical and mental health, and it can also be really fun. If you walk regularly, drive somewhere different to mix things up. I usually walk my neighborhood, but sometimes I want something a little different, so I’ll head out to a local state park. There are so many places to explore. Get out there!
  7. Have a photoshoot! If you’re at all creative or good with a camera, this is always a great option! Put on a cute outfit, do your makeup, and head out to a photogenic location with some friends. Not only will you have fun, but you’ll have the memories forever! It’s a two for one.

Obviously, the list can go on and on. These are just some ideas to use as a starting point! Whatever you decide to do, I have confidence that you’ll absolutely crush your no-spend day. If something really works for you, submit it as a piece of advice to the community here!

Working to Get Ahead: My Journey So Far

Welcome to my first little journal entry.

One promise that I made when I created Belle in Full Bloom was that I would be open and honest about where I am in my financial journey. You know some minuscule details about me, and why I am starting this blog. Today, I would love to give you the full picture. 

What has my financial journey looked like so far?

At this point, it’s probably clear that I am not far along in my financial journey. I opened a high yield savings account in January in order to create an emergency fund for myself. By April, I had saved up roughly $450 in the account. I was also trying my best to get ahead of my rent payments in order to keep financial stress at bay. However, one little incident that month started a downward spiral that I haven’t quite been able to get out of since. 

I was on my way to work when I accidentally drove over one of Nashville’s infamous potholes and my front right tire popped. Between the cost of my lovely new Triple A membership and the tire itself, my emergency fund was pretty much depleted. Soon after that, I went home for all of May. I worked as much as I could at my high school job, but still walked away with only about $700. This was enough to cover rent for July, which I wanted to save up for to avoid financial stress. When I returned to Nashville, I worked to save up for my roommates and I to move in August. This meant saving for August and September rent, but also for a security deposit, application fees, necessary new furniture, and other moving costs. At the end of the moving process, I was basically broke. Honestly, I still kind of am.

So, what am I going to do about it?

If you know me, you know that I am a bit of a control freak. With the current state of my finances, I am feeling entirely out of control. The idea that I don’t have the necessary funding to buy a new tire if I accidentally pop another one is terrifying to me. I want nothing more than to have financial security, so I am going to create it for myself one way or another. 

Over the next few months, my plan is to save up so that I can get ahead of my rent payments. I haven’t been able to do that this fall since I had to cut back on my part-time job hours in order to accommodate my internship. My internship recently ended, and I will receive a stipend for my work. It’s $250, which won’t be life changing, but it will definitely help me cover some necessary ground. I plan on heading back to work for my normal hours, which will also help me accomplish all of this. The upcoming holiday season will not make saving up for all of my goals the easiest of tasks, since I will be home and away from work for weeks at a time. However, I am ready for the challenge. 

What exactly are my goals right now?

As of right now, my most immediate goals are as follows:

  1. Save up enough money to get ahead on rent payments for the rest of my lease (which ends in June of this year).
  2. Save up $1000 for an emergency fund by my twenty-second birthday. 

Meeting these goals will be the first step in ensuring that I feel financially secure. As of right now, I have enough money to cover my rent payment for the month of December. The fact that I have to cover January rent so soon after that is so nerve wracking, especially because I will be flying home for a few weeks to celebrate the holidays with my family. As much as the break from adult life will be nice, I won’t be able to work when I am home. I am confident that I will be able to pull off January rent, but I do not want to live with this anxiety for the entirety of our lease. The ability to get ahead of my rent payments will give me the peace of mind that I need.

Similarly, working on building up my emergency fund will be life changing for me. You never know when disaster may strike. When it does, the last thing I want is to have to go crawling to my parents for help. Therefore, I am absolutely thrilled that I have begun saving up for my emergency fund again. I have not contributed much, but it’s a start for sure. 

If this wasn’t what you were hoping to hear, I’m sorry.

Yeah, I’m not in a great spot right now. Some of you might be wondering why on Earth I would choose to divulge this information to the Internet. However, that is the point of this sweet little site! I wanted to start Belle In Full Bloom in order to document my journey. It was my hope that people in similar situations would want to grow along with me. So here we are, little seedlings just starting to sprout. I can’t wait to see what it looks like when we’re fully bloomed. Until then, submit questions, advice, or just reach out and say hey! You can also follow me on Instagram, Facebook, and TikTok. Let’s do this thing.