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The Mel Robbins Podcast
5 Rules of Money: How to Make It, Save It, & Be Smarter About It
Mar 7, 2024
Tiffany Aliche, aka The Budgetnista, is a New York Times bestselling author and financial expert who has transformed the way millions approach their finances. In this conversation, she reveals the 5 crucial rules of money you need to gain financial freedom. Topics include rethinking budgeting as a nurturing tool, overcoming financial anxiety, and maximizing savings with high-yield accounts. Tiffany also discusses effective debt management strategies and the importance of finding purpose and value in your financial journey.
01:29:40
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Quick takeaways
- Automate finances with 4 accounts to balance expenses and savings effectively.
- Create a money list to manage expenses and divide income for savings.
Deep dives
Setting Up Automated Money Management System
Automate your finances by setting up a system with four accounts: one for bills, one for spending, and two for savings, ideally split 70% for expenses and 30% for savings and investments. Divide expenses into bills (B), usage-based (U), and choice/cash (C), and allocate money accordingly to maintain financial balance without needing strict discipline.
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