Erika Taught Me How To Budget For Beginners
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Feb 20, 2024 Allison Baggerly, founder of Inspired Budget, shares budgeting tips for beginners. She covers the importance of budgeting, step-by-step plans, budget surprises, and how to get out of debt. The episode is beginner-friendly and great for singles and couples looking to manage their finances.
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Emotional Spending in College
- Allison Baggerly loved spending money in college, using student loans to cope with emotions.
- She'd get manicures after breakups or buy things after good grades, realizing later she was using money to self-soothe.
Ulta Red Flag
- Allison's now-husband questioned a $200 Ulta purchase, making her realize her spending was problematic.
- Her defensiveness served as a red flag, but real change didn't occur until years later.
Unexpected Pregnancy and Budgeting
- An unexpected pregnancy forced Allison and her husband to create a budget to afford daycare.
- Initially viewing budgeting as a punishment, she later found it liberating and empowering.