Soft Life Finance Tips Every Woman Should Know

You can't help who you attract, but you 1000% can help who you entertain. How you handle small money is how you handle big money. You'll be getting all the abundance right back as we give out abundance vibes. You feel me? I've spent a majority of my adult life delved into the world of personal finances and personal development. I've read a ton of books on the subject. I have a finance degree and an accounting diploma. I built a 9-5 career as an accountant. I built a business. Was able to leave my 9-5 job to run my business full time. Was able to take a year and a half sabbatical from working while still getting paid, and I've been able to get back into a consistent workflow that remains true to me, allows me to stay soft and feminine and loving and aligned with my true nature while still getting to the bet. And if there's one skill that I would say has allowed me to live this comfortably, it's financial management. Now, don't get me wrong. I'm not trying to say that I'm the end-all be-all educational coach on finances. I'm only 30 and I've got so much more life ahead of me. So many things to learn. Believe me, babe. We're here. We're here and we're getting to this back together. But I will say that I have a very comfortable relationship with money that if I could toot my own horn just a little bit, my love. Even when I was making way less money and I was super close to the poverty line, I was still living comfortably and people thought I made way more money than I did because of how I managed it. I wanted to talk about some of the mistakes that I see often made from my girls who are constantly working, constantly busy, but somehow still always living paycheck to paycheck and are having a really tough time financing the life that they desire. Now, if you are living paycheck to paycheck and you are comfortable there, then there's nothing to fix. And I genuinely mean that because in my honest opinion, I think life is just about being happy. So if you're living paycheck to paycheck and you're happy there, then don't worry about it. There's nothing to fix. You're doing amazing, sweetie. Keep going. But if you do find yourself in financial ruins often and you're not too sure how to get out of there so that you can comfortably live the life of your dreams without money anxiety all the time, then maybe this is the video for you. So let's get into it. Back in the day, people used to try to keep up with the Joneses because the Joneses lived on the same street as them. Nowadays, people are trying to keep up with the Instagram streets and they're paying for things with money that they don't have. The problem with not living below your means, regardless of how much you make, is that what you do with the little money is what you do with big money. So if you are thinking to yourself right now, I'm in debt, but it's only because I don't make enough money. If I made about 10K more than I won't be in debt, you probably will still be in debt. Really have to understand that personal finances are personal for a reason. Hone in on what you have going on and mind your own pockets because sometimes the same people that you're trying to keep up with don't really got it like that either. There are thousands of dollars in debt as well, or maybe they're not in debt. Maybe they really do got it like that, but you don't know where they skimp out on in order to afford the things that they have. So certain things that you want to spend money on, maybe it doesn't matter to them. So they don't spend money on that. It's just important for you to focus on your own plate. Stop looking at other people's plate because your own food will get cold. So you might be thinking, how do I manage to live below my means? Not paying yourself first. Now, this is a principle that is prevalent in so many financial books, Richest Man in Babylon, Rich Dad, Poor Dad, The Wealthy Barber. We read Rich Dad, Poor Dad inside of the Good Girls Gumball Society. It was one of our book club reads. Initially, when I heard about this, I was a bit uncomfortable with the idea of paying yourself first because I thought if you have so many bills, how can you possibly pay yourself first when you've got to pay those bills? I'm someone who always likes to pay my bills on time. But inside of Richest Man in Babylon, they spoke about it in a way that kind of made a light bulb go off in my head. We also had discussions about it inside the Good Girls Gumball Society. And you realize that a lot of those expenses that you were so eager to pay for that were essential, you find other ways to attain them, whether it's bartering, still buying a new car, but maybe it's a Toyota instead of a Lexus, still traveling, but maybe you stay at a three star hotel instead of a five star hotel. It's still going on vacation, but maybe you go to Mexico instead of the Maldives. Paying yourself first is essentially the principle of putting money aside for every paycheck that is for your future. So the rule of thumb is that you put away at least 10% of your paycheck before you pay for everything else. So most people pay for the now and then worry about the future afterwards. The problem with that is most people, when those future things pop up, they realize that they didn't accommodate for it at all. And now you're in your 60s living off of social security alone, or you bought the new car, but you didn't really factor for maintenance of the new car. A rock hits your windshield. You weren't expecting that expense. And now you've got to figure out how you're going to pay for it. Your computer stops working and now you've got to pay for a computer unexpectedly, which just happened to me recently, actually. And I was so annoyed. I'm like Apple, I just got this computer. What's wrong with you? But anyways, I digress. Let's talk about it another time. If you work a nine to five job that matches your 401k or does any sort of contribution program in Canada, maybe contributing to your RSP, take advantage of that. You're not going to miss that money. Once it leaves your paycheck before it hits your bank account, you won't even notice. And to take it a step further, another thing you can do is put away 10% of your income to either your TFSA, an RSP, or just an emergency savings plan. Let me know if you'd like an in-depth video on how to pay yourself first, how I've paid myself first, and different ways that you can pay yourself to make it make sense for your financial goals. A general rule of thumb that's out there is to take 10% before you pay for rent, your car, a girl's night out, birthday presents, whatever. Take 10% and put it away for future goals, whether it's investing, saving, or both. Which brings me to my next tip, which is to have your emergency savings fund. I like to call it a peace out fund because guess what? One thing about it, if it's an environment, a person, a place, or a thing that is toxic and not conducive to my mental health, please believe I will be saying peace out. And it's because I've built up an emergency savings fund that has three to six months of expenses that allows me to pivot and figure out my next move. This is essential, my love. This is essential. You need this, friend. You need this because unexpected expenses are inevitable. They're going to pop up. It's not a matter of if you're going to have unexpected expenses, it's when you will have unexpected expenses. Whether it's your car, computer, travel, home repairs, a breakup, there could be so many unexpected expenses that pop up. And with an emergency savings fund, you feel confident knowing that you're giving yourself some time and some grace to figure out your next move or to replenish your emergency fund while you figure out your next move. An emergency fund, or as I like to call it, a peace out fund is essential to your peace of mind. Three to six months is recommended. If you work for yourself or live a very dynamic lifestyle, you might want to just keep a little bit like six to nine months, or maybe even nine to 12 months available, liquid and on hand. But the best place to start is three to six months. And you're going to be able to do that by paying yourself first. There's a difference between good debt and bad debt. Good debt is considered debt that allows you to make more money in the future. For example, student loan debt, because the idea here is that you're going to attain a degree that allows you to earn more down the line. For example, if you have about 40K worth of student loan debt, but the idea is that graduating out of school, the salary for the job you'd be qualified for starts off at a range of 90K a year, then that's worth it. Because the idea is that down the line, you'll be able to pay off that student loan debt very quickly. Another example is mortgage loan, because the idea is that your house is going to be building equity and you're going to have to pay money monthly anyways to live somewhere. Might as well be paying off a mortgage so that a portion of that is paid off and you get to retain that. But also as real estate appreciates in value, you're also making money on that loan as well. So mortgage and student loans are examples of good debt. Bad debt, on the other hand, would be your pretty little things revolve Sephora orders going on your credit card and you haven't been able to pay it off. It would also be booking a vacation to go away on an extravagant trip, leisure vacations. You don't have the money to pay for right now, so you put it on your credit card. It's the clothes, it's the makeup, it's the Amazon, it's the hair extensions. These are all consumer debts because it's not helping you necessarily to make more money. And I know, I just know someone's watching this like, well, no, that Sephora order makes me really happy and that helps me to make money. Find therapy elsewhere. You cannot afford retail therapy if you're living paycheck to paycheck. Find somewhere else to get your therapy. Hey friend! Interrupting really quick because this is actually the perfect time to introduce today's sponsor, BetterHelp. Like many of us, I have faced my own challenges with adversities and just wanting to strengthen my skills of managing my mental health and managing my emotions better. There were times when I felt so overwhelmed with the responsibilities of adulthood and I just feel like if I had found BetterHelp for support a lot sooner, it would have made things a lot freezier. Let's just say that. BetterHelp connects you with licensed therapists who are ready to listen and provide guidance from the comfort of your own home. You start by visiting their site, answering a few questions, and usually within 48 hours, they match you with a professional who understands what you're going through. Whether you prefer messaging, phone calls, or video chats, it's easy to connect with a therapist who can support you. So if you're ready to take that step towards better mental health, visit betterhelp.com slash linalore or choose linalore at signup. Don't forget, using my link gives you a special discount on your first month. So remember to take care of yourself, my love, because you deserve it. Want to send a huge thank you once again to BetterHelp for sponsoring today's video. Be sure to check out that link in the description bar. So you might be thinking, well, if I just made about 10k more a year, I'll be able to get out of this infinite loop of constantly living paycheck to paycheck. But I will tell you from experience that how you handle small money is how you handle big money. Not just myself, but many other people that I know deal with money in the same capacity. You're taking those same principles, that same psychology, that same energy you have towards money. When you were making 60k, you're applying to how you handle your 120k. There are people who make half a mil a year and are considered a part of the 1% and they still are living above their means. They still have a bunch of debt. They're living paycheck to paycheck. And at that salary range, you're probably not even on paychecks, but they're still living deposit by deposit. They still are having money management issues, cashflow issues, and they're still stressed out about money, even though they make so much of it. So don't feed yourself a lie that if you just made more money, you would manage it better. Living below your means at any income rate is essential. So my next tip is one that I don't think these finance books really talk about. They do, but they tiptoe around it. And also it's not from the perspective of someone like us. And I know you're watching this video and you get me on some sort of level. So I'm going to say you and I. Speak specifically to my women, but men can also relate to this as well. Now, if you're a woman who takes care of herself, you take care of your appearance and you're doing the inner work as well. Like you are a pleasant energy to be around. You are positive. You're uplifting. People are going to gravitate towards you. They're going to want to be around you all the time. And you can't help who you attract because you're going to attract a whole lot of people. You can't help who you attract, but you a thousand percent can help who you entertain. And I think this is an important piece that we're going to put into a video about finances because oftentimes we entertain people who come into our lives who are not conducive to the life we want to live. This goes for all sorts of people. It's the friends you keep. It's the partners you decide to date. It's the colleagues you decide to spend lunch with and after hours with. All of these people you have around you shape your reality in some sort of sense. They shape the conversations you're having. Are you guys talking about so-and-so's baby daddy and what the baby daddy did and talked about? And the conversations are so low. The conversations are about other people, other people's relationships, other people's drama, other people's sexuality. The conversations are low brow. Okay. Secretly adopting their beliefs. You're normalizing that what you see occurring around you every day shapes your reality. We all live in a world. There's someone who lives in a life that's paycheck to paycheck, constantly broke. And that's normal to them because that's all they see. Then there's someone else who becomes friends with someone who opens their eyes to a world where actually you can have everything you want. You can build a life of your dreams. You can work towards your goals and actually attain them because they're not unrealistic. They're possible. You just need to work for them. You begin to adopt the mindset of the people who are around you. A lot of the opportunities that I've learned about are simply from people who are in my circle. So my first year of post-secondary, I was in a nursing program and I became friends with a girl who was friends with one of the professors. So naturally we would hang out with the professor in between classes because she was friends with the professor. So I became friends with the professor and the professor was talking about the different ways that you can make your nursing degree work for you. But it was through that conversation that I had asked her some questions about touching strangers and being in an industry that I really wasn't meant for. I was not meant for the nursing industry at all. It wasn't for me, even though I thought that's what I wanted. And through that conversation, she gave me the confidence to say pivot now versus after you've gotten your four-year degree. So that year I didn't even fully complete my first year of nursing school because of that conversation that I had that completely changed my life forever. And guess what? At the time I had a friend who was in the program that I wanted to be in. And after talking to her, she gave me confidence as well. She was like, you can apply for this. You can do this, blah, blah, blah. So two of my friends were part of the reason why I made the switch from nursing to finance. And thank God I did because it was the perfect transition for me and it was the perfect path for me. But really it's because of the friends that I had around me that kind of helped to shape those decisions. As a woman who's a nurturer and a grower, women tend to multiply and nurture the things that are given to them. So if you're around a bunch of people who are constantly giving you stress and problems and telling you how sucky life is, you're going to start to adopt those same mentalities. And it is even worse when it's someone you're in a relationship with, because you tend to be around those people even more. You're swapping souls with individuals, sharing beds with individuals who have such a negative mindset that you're adopting as well. You're growing and you're multiplying as well. So it's really important to take note of who's in your circle. Are they inspiring you or are they adding to a life where you're kind of feeling limited? You kind of don't feel like going after your dreams anymore. Your goals seem obsolete. They seem too unattainable. And they kind of fuel your fear for life instead of fueling your optimism and your abundance mindset. So my next tip is to give without expecting anything back in return, which might sound a little counterproductive because we're trying to grow our money. Why are we giving away without expecting anything back? Now, here is my theory. Every single time that I have seen a huge astronomical growth in my finances, whether it's attaining a new asset, earning exponentially more than I was the previous year, or just being in a great financial position some way, being blessed financially, it was right after I gave selflessly. Now, I'm saying to give at the capacity to give. Don't pour from an empty cup. But if you have the ability to help someone that isn't going to put you at risk or at harm, do so without expecting anything back in return. The energy you put out is what you receive back. So when you're putting out good vibes and good energy just because you want to, because you can, and because you're a kind-hearted soul, the universe rewards that. The universe sees that and rewards that. And you get it times 10 back. So that isn't to say you should start giving and then as soon as you give, you're looking to your left and you're like, where are the blessings? No. I'm saying to just give out of the kindness of your heart to that could use it. And people who deserve it as well. Don't give to people who are kind of abusing their position in your life and kind of abusing the fact that you have a kind heart. Use discernment. Pray about things like that. But to just give because you feel like it. When you just give because you can and because you're a kind-hearted person, you're operating from such a place of abundance. There's no lack there. There's no people pleasing there. You have boundaries and you're a kind-hearted soul and kind-hearted people get blessed point blank period. I have three life cheat codes. One is to be grateful. Even when I'm in the middle of adversity, find things to be grateful for. Second is call upon God, whether I am going through a tough time or life is blessed. And the third is to just give without receiving anything back. All of these things, this helps you to live a very abundant life. And all you do is attract abundance right back. You'll be getting all the abundance right back because you give out abundance vibes. You feel me? Don't be a hater. Don't speak negatively about people. Speak about people in a high regard. And in return, you feel better about yourself. When you're operating from a place of life is good, life becomes good. So that's it for today's video. Let me know down in the comments your thoughts and let me know if there are any money mistakes that you found yourself doing that kind of kept you from getting to that next step in your finances. I would love to know. I love you so, so, so much. I love you to the moon and back. Be true to you.