Veronica is a Certified Financial Consultant by the NFEC and founder of Run Your Money. She wants you to be done with the money shaming of the finance bros and learn more grounded financial knowledge than what the money manifesters teach. Veronica has been good with money since she started babysitting at age 11, perhaps thanks to her Sun and Venus in Capricorn? Sheโs been saving and learning to be more strategic with money ever since. She also has a degree in Social and Economic Justice and has a unique perspective on how your finances play out in our larger economic systems. She wants to help you run your money so it stops running you.
๐ปfour spooky things dave ramsey tell you to do with your money
โ ๐ป๐Happy Halloween, Reader! It's that bewitching time of year when pumpkins adorn doorsteps, and the little ones transform into their favorite characters. My kid's set to roam the neighborhood as a mighty dinosaur ๐ฆ this Halloween, bringing an extra dash of prehistoric fun to the festivities. In the spirit of all things eerie and mysterious, my podcast, the Run Your Money Show, has a special spooky-themed episode brewing, ready to give you delightful shivers and thrills. Tune in for a ghoulishly good time! ๐ฑ Also, here's a treat that's not just for Halloween: I've carved out some space in my calendar to help you kickstart your journey toward financial freedom with my "Run Your Money Roadmap." If you're eager to make over your finances and need a guiding hand, let's carve out a plan together. Details of what we'll do session by session are here or below in this email. Wishing you a fa-boo-lous Halloween and an enriching journey towards financial savviness! Stay tuned for more updates and tips in your inbox. โ Four Spooky Things Dave Ramsey Tells You to Do with Your MoneyI believe there are more roads to Rome than one and that you don't have to run your money exactly how I would to optimize and grow it. However, when I find advice that is just wrong, I have to say something, especially if that advice is covered in shame. Few names ring as loud as Dave Ramsey's in the financial advice world. His advice has made its way into millions of households, and you may follow some of it, even if you've never consumed his content. Some of this philosophies are that far removed from him. This week on the blog and podcast, I'm going through some of Dave Ramsey's most popular ideas and why they're not just different opinions but following them can be bad for your money. (and your mental health!) 1. Debt Is Morally Neutral Debt is Dave Ramsey's archnemesis and he often shames his listeners for having debt. If you've ever listened to him, you've probably heard phrases like "bad with money" or "irresponsible" thrown around when discussing debt. The problem with this approach? It's a bit too simplistic. Debt isn't black and white. Some people use it as a tool to leverage and grow their money. In other situations, medical emergencies, job loss, or increasing inflation can lead to debt. Blaming people for their debt without considering these nuances isn't fair and, in fact, can be harmful. |
If you prefer audio...โ Submit your question for the Q&A episodes here. I applied for the SAVE plan for my student loans, but my payments went up. WTF? โ SAVE is the Biden administrationโs response to the Supreme Court overturning his loan forgiveness program. โ Here are the key things it does: โ 1) It uses a more favorable formula, so less of your income is considered discretionary. โ 2) Beginning in July 2024, undergrad loans will be 5% of your discretionary income, grad loans will be 10% (this is what it is now), and if you have both, itโll be a weighted average. โ 3) It allows you to exclude your spouseโs income when determining your loan payment if you file taxes separately. โ 4) If you pay your required payments (including $0 payments if you qualify), after 20 years, anything left will be forgiven. โ So, the SAVE program gives you a lower payment, AND if you have only undergrad, your payment will be halved next July and reduced by some if you have undergrad and grad. โ If your payments went up, it is because: โ 1) When you apply for SAVE, you must recertify your income. You likely have yet to certify your income since before the pandemic, so hopefully your income has gone up! โ 2) Youโve gotten married, and you file jointly, so your partnerโs income counts towards determining your payment. โ Here are your options: โ 1) Stay on your current repayment plan until you need to recertify (you have to do this once a year). Switch to SAVE, then. โ 2) Typically, married, filing jointly is the best tax deal. However, if your payments are high, it may be better to file separately. A CPA can help you determine that. โ Work with me 1:1- โ Run Your Money Roadmap: โ In the RYM Roadmap, you'll have six weeks with me to makeover your finances, top to bottom. โ If you're finally making money (or have been), but haven't figured out how to optimize and grow your money, I'm your gal. โ We'll have five 45-minute sessions over six weeks, roughly following this flow: โ Session 1: We will discuss your money goals and explore ways to improve your mindset towards money. โ Session 2: We will review your expenses, identify areas of wasteful spending, optimize your spending, and find ways to allocate more money towards the things that bring you joy. We will also assess your bank accounts and credit cards. โ Session 3: Create your savings plan. Set up your HYSA sub-savings accounts and determine how much to keep in cash vs invest. โ Session 4: Start or optimize your investment plan. Review investment projections to make decisions about how much to put in and the kind of investment accounts to have โ Session 5: You'll walk away with your Run Your Money Roadmap. You'll know exactly where to spend your money and build your wealth while also enjoying life now... guilt and stress-free! โ โLearn more and book here.โ โ โIf you'd like to book just a single session, you can do that here.โ โ โ ๐ง The Dream, Season 3: Can you tell I'm a podcast junkie? ๐ Deep dives into the scammy way people make money online is like catnip for me. This season, host Jane Marie deep dives into the coaching world. I was in the life coaching world for a long time, and many of the issues Marie brings up are a big reason for my burnout. While some of what she talked about bumped against a nerve, overall, it was a validating listen. I'm not the only one witnessing the wild West that is the life coaching world. โ See you next week! โ -Veronica โ โ Did someone forward you this newsletter?
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โHi! I'm Veronica
Veronica is a Certified Financial Consultant by the NFEC and founder of Run Your Money. She wants you to be done with the money shaming of the finance bros and learn more grounded financial knowledge than what the money manifesters teach. Veronica has been good with money since she started babysitting at age 11, perhaps thanks to her Sun and Venus in Capricorn? Sheโs been saving and learning to be more strategic with money ever since. She also has a degree in Social and Economic Justice and has a unique perspective on how your finances play out in our larger economic systems. She wants to help you run your money so it stops running you.
Run Your Money Newsletter Hi, Reader! I wanted to take a moment to express my sincere wishes for a warm and joyful Thanksgiving (if you're celebrating) filled with family, friends, and my personal favorite: the Macy's Day Parade. ๐ฆ This Thanksgiving, our household is spicing things up with a Turkey-Off. My husband is manning the smoker, infusing our bird with a variety of flavors, while my mother-in-law is making hers in the oven. As the official taste tester, I'm eager to see whose turkey...
Run Your Money Newsletter โ Falling for Autumn Delights, Thanksgiving Crafts, and New Updates! ๐ Hi there, Reader, I hope this message finds you wrapped in the cozy embrace of fall! As the leaves change colors and the air turns crisper, I can't help but indulge in the delightful seasonal offerings that seem to magically appear this time of year. Speaking of which, I might need a second job to support my Starbucks addictionโthose fall drinks are irresistible, aren't they? โ๐ธ In the spirit of...
Run Your Money Newsletter ๐ Taking the Road Less Judged! ๐ Hey there, fellow financial adventurers! Many boomer personal finance experts are all about spending as little as humanely possible. (I'm looking at you, Suze Orman, even though I think you're amazing and I loved your book when I was young, fabulous, and broke.) But generally - telling people to spend as little as possible, with no nuance, is bad advice. Last week, we wrapped up our first road trip in a mini-van that we purchased new...