Life Kit How to save for a big financial goal
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Jan 18, 2024 
Monique White, a financial expert and head of community at Self Financial, Inc., shares insights on overcoming financial hurdles. She emphasizes the importance of strategic savings and budgeting for big goals, even in tight financial situations. Monique encourages listeners to assess their finances and create actionable plans, including building emergency funds and managing debt. She also discusses the balance between enjoying life now and saving for the future, offering creative solutions to navigate financial challenges.
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Denied Auto Loan
- Monique White was denied an auto loan at 22 due to past credit mismanagement.
- This led her to educate herself about credit and eventually build a career helping others.
Realistic Budget
- Create a realistic budget by assessing income, expenses, and credit score.
- Avoid comparing your financial situation to others and focus on your own journey.
Emergency Fund & Budgeting
- Prioritize building a 3-6 month emergency fund before large purchases.
- Use a budgeting method like the 50-30-20 rule (needs-wants-savings).