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? Sheβs 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.
Renting Rich or Buying Broke: Rent or Buy in 2023/2024?
β β Falling for Autumn Delights, Thanksgiving Crafts, and New Updates! π 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 addictionβthose fall drinks are irresistible, aren't they? βπΈ In the spirit of autumn, my preschooler has been bringing home the cutest Thanksgiving projects from school. He's at a fun age because he's actually able to learn about the holidays and gets to anticipate them right along with us. (Speaking of Thanksgiving - next week on the podcast, I have a financial therapist on a guest to help you navigate tricky money issues that may arise as you visit family. Stay tuned!) I've also been revamping my website to make it even easier for you to learn more about how we can collaborate. Whether you're a prospective client or just curious about my services, you'll find all the details you need on my updated site. π Explore my revamped website: Run Your Money Consulting packageβ If you've been contemplating working with me, I'm here to answer any questions you may have. To make things even more convenient, I've set up a link for you to book a quick call directly with me. π Book a Quick Call: No pressure, just ask me your q's.β Thank you for being a part of my community, and I can't wait to connect with you soon! Warmly, Veronica PS - If you're curious about how we can collaborate or have any questions, don't hesitate to book a quick call with me here. Renting Rich or Buying Broke: The Rent or Buy Equation in 2023/2024In today's episode on the Run Your Money Show, I have two goals: 1) debunk the myth that buying is always the superior choice and 2) Help you make a well-informed decision between renting or buying In the U.S., the concept of home ownership is deeply ingrained in the American dream, with the belief that it's a fundamental part of achieving financial success. While there are MANY perks to home ownership, it being a better financial decision is generally not one of them. Some will die on the hill of home ownership, others will die on the forever-a-renter hill. Personally, I'm not dying on either of those hills. Renting or buying depends on your personal preferences and financial situation. AND whether or not it's better to rent or buy will vary based on where you live and whats going on in the wider economy. What is definitely true, and what I really want you go get is that home ownership is often not what it's cracked up to be. For example, in a recent TikTok video about buying, one commenter described her home as a money pit and it impeded on her ability to get ahead. In other words, the rent or buy equation is *much* more complex than what's the monthly mortgage vs the rent. And, paying rent is no more throwing your money away than any other of your regular spending. |
If you prefer audio...β Submit your question for the Q&A episodes here. So 529, that's going to count against financial aid for them. What's the point? β It seems I get two kinds of regular pushback: β 1) Dave Ramsey is fine for people who are "bad" with money 2) 529s β Guys! 529s are GREAT accounts. You put after-tax dollars into your account, though some states offer a tax deduction for what you contribute. β Your money grows tax-free, and withdrawals for qualified expenses are tax-free. AND, beginning in 2024, you can roll up to $35k of unused 529 funds into a Roth for your child. β If they get a scholarship, you can withdraw that amount penalty-free. And whatever else is left, you can save it for another kid, yourself, or a grandkid. β 529s will affect aid, but minimally. According to savingforcollege.com, a maximum of 5.64% of the parent's assets is counted to determine a student's aid on their FAFSA application. β Avoiding a 529 to get more money under FAFSA is a bit like turning down a promotion because it'll put you in the next tax bracket. β So yes - it'll affect your child's financial aid package. But you'll be far better off financially getting less aid but having years of investments built up in your child's 529. β Work with me 1:1- β Run Your Money Roadmap: β In the RYM Roadmap, you'll have six weeks with me to makeover your finances, top to bottom. β 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. β We'll have five 45-minute sessions over six weeks, roughly following this flow: β Session 1: We will discuss your money goals and explore ways to improve your mindset towards money. β Session 2: We will review your expenses, identify areas of wasteful spending, optimize your spending, and find ways to allocate more money toward the things that bring you joy. We will also assess your bank accounts and credit cards. β Session 3: Create your savings plan. Set up your HYSA sub-savings accounts and determine how much to keep in cash vs invest. β 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 β 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! β βLearn more and book here.β β βIf you'd like to book just a single session, you can do that here.β β β π° Capitalize: Do you have old 401ks collecting dust from previous employers? Or not sure? If so, I highly recommend rolling them over into a Rollover IRA at a discount brokerage (Vanguard, Fidelity, etc.). 401ks are expensive, and you only get a few investment options. Rolling them over into a retirement account at a discount brokerage firm eliminates those problems. β Iβm weary of start-ups in the financial space, but I like what Capitalize is doing. They help you find old 401ks and roll them over to a fund and bank of your choice! AT NO COST TO YOU! (The bank pays a referral fee.) βCheck out Capitalize here!β β π Student Loan Planner: If you have student loans, you know that repayment is not as simple or straightforward as paying off your mortgage. Millions of borrowers are elligible for lower payments, one-time adjustments, and forgiveness, but may not realize. Enter Student Loan Planner. β They understand the rules front and back. Plus, if you book a consultation through my link, you'll get a mini-money coaching session with me at no extra cost. β βCheck them out here.β β See you next week! β -Veronica β Did someone forward you this newsletter?
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βHi! 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? Sheβs 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. π¦ 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 π Taking the Road Less Judged! π 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...
Run Your Money Newsletter π»πHappy 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 π¦ 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...