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? She’s 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.
three major costs of not running your money
Hi Reader, When you have wealth, you have options:
If you don't come from wealth, one of the best ways to build it is through investing, and I'm talking more than just checking off a few boxes on your HR form. (According to the numbers, as I talked about in this week's podcast episode, most people will need to have more than a 401k for financial security.) That's why I love talking about investing, and probably why any videos I put up on social on the topic far outperform everything else! Because I get a lot of interest and questions, I'm hosting a workshop called Everything You Need to Know About Investing next month. I'll teach you everything you need to know to start or optimize your wealth building. Registration opens October 2nd, but you can get on the waitlist now. When you get on the waitlist, I'll send you my free investing cheat sheet so you can get a head start! Get on the investing workshop waitlist here. All my best, Veronica Three Major Costs of Not Running Your Money |
When you run your money, it's not running you. Meaning you're not constantly worried or stressed out about it. You have a plan; basically, you're the boss rather than your money being the boss. But it's important to understand what happens when you don't run your money. For many people, anything about money can be so stressful that you want to stick your head in the sand and never open up your bank accounts ever again. I get that because while I have always been good with money, I had one time when I was not good with my money, and it cost me a lot. When I started my business, I did something I strongly advise against now: I went in cold turkey. I want to acknowledge that I never had to worry about rent or groceries because my partner and I lived together. Even so, it was stressful for me not to have a regular income. What also added to that stress was that I didn't have a realistic idea of how hard it would be to get it off the ground. My anxiety went up and up, and as it continued to increase, I stopped managing my money and running my money system, which I had done religiously for years. In addition to not looking at my bank accounts, I stopped opening the mail. I was afraid that I'd open up a bill that I couldn't afford, or it'd be stressful for me to pay. So I just didn't do it. One of the bills that kept coming in the mail was for my health insurance. I was paying out of pocket because I had quit my full-time job, and my now-husband and I weren't married yet.
If you prefer audio... Submit your question for the Q&A episodes here. I want to sign up for Biden's new SAVE repayment plan, but what if the courts or a future administration scraps it? I don't have a crystal ball, but here are my two predictions:
Legal standing: (I'm not a legal expert, so I'm only going off of other legal experts I've read.) The SAVE plan has much better legal grounds than the last loan forgiveness program.
That's because laws that set up student loans give the Secretary of Education authority to administer how loans are repaid. SAVE isn't an outright forgiveness program. It's simply a new (and much better!) way to repay your loans. The likelihood of SAVE standing up in court is strong. A new administration: Do you remember the backlash after the Affordable Care Act was passed? Conservatives chanted "Repeal Obamacare!" every chance they got.
Guess what: They didn't repeal it even when they could've in 2017 when they had a trifecta: control of the White House, House, and Senate.
Why?
Because it would've been bad politics, the ACA was, and is, popular.
Likewise, once people save money in the SAVE program, it'll be popular too, and millions of Americans will get their financial lives back. It'll be bad politics for an administration to scrap it without replacing it with something better.
Do I know this for sure? Of course not. But neither does anyone else.
There is a risk you join the program and it goes away. But if you stay in the more expensive loan program you're in now, you know you'll pay more. Any decision has risk, and in my POV, the least risky of your two options is to apply for SAVE. Also - another reason to VOTE!!! I'm excited to share that I've got a bit more time on my calendar available for clients! Spots are limited, so if you want to book a session, I recommend doing that sooner rather than later! Run Your Money Session: A one-off 90-minute session with me to focus on one area of your money: mindset/money story, spending, saving, or investing. If you want some professional guidance on how you can optimize your money so you can have fun now while also saving, paying off debt, and investing, I'm your gal. Here's the link to book your spot. How to Invest: A comprehensive and live workshop where I'll teach you:
Click here to get on the interest list! 🏠 @mortgagemandy: Let's talk about mortgages, but make it fun! I met my first TikTok friend, Mandy, and I love her page! Mandy teaches you everything you need to know about taking out a mortgage in smart, simple, and funny videos. If a mortgage might be in your future in the next 3-5 years, check her out. See you next week! -Veronica PS - Know someone who would love this newsletter? Please send them to this link so they can receive their free copy! PPS - Want my help in putting a money system together so you can save and invest while enjoying your life now? I would love to help! Book your session here. Did someone forward you this newsletter?
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Hi! 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? She’s 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.
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