5 Rules of Money: How to Make It, Save It, & Be Smarter About It
The Mel Robbins Podcast with Tiffany Aliche
Listen to the Mel Robbins Podcast twice per week, every Monday and Thursday, to achieve the life of your dreams.
In this episode, you’re going to learn the 5 rules of money.
Whether you want to build credit, pay off debt, increase your income, or have more money in the bank, this episode is a must-listen.
It will surprise you.
It will move you.
And it will help you live a richer life.
Tiffany Aliche is THE money expert.
Known as The Budgetnista, she is a New York Times bestselling author who has helped 2 million people just like you save, manage, and pay off massive debt.
This is not your usual “make-a-budget-and-stick-to-it” advice. Tiffany’s take on $$ will help you see your money in a completely different way so that you understand how to make more of it and save it with ease.
After you listen, you’ll have THE 5 money skills you need to gain financial freedom.
Connect with Mel:
- Get Mel’s free 29-page workbook to make this your best year
- Watch the episodes on YouTube
- Follow Mel on Instagram
- The Mel Robbins Podcast Instagram
- Mel's TikTok
- Sign up for Mel’s newsletter
- Disclaimer
In this episode, you'll learn:
- 2:30: This is how Mel handles her money. Can you relate?
- 6:45: How Mel helped her family start getting out of debt.
- 7:20: Mel’s #1 rule about money after having been bankrupt.
- 7:50: How Mel passed her relationship to $$ down to her daughters.
- 13:15: How to incentivize your kids to turn out the lights.
- 17:15: The first and second BIG financial mistakes Tiffany made.
- 22:15: After the recession hit, things got even worse for Tiffany.
- 25:15: What to do when you feel shame about your finances.
- 27:30: Here’s how to prioritize your bills if finances are limited.
- 28:50: Why is it so hard to open your bills?
- 33:05: The #1 Rule of Money.
- 33:40: Reframe your 5-step budget plan so it’s doable!
- 39:10: What concerns Mel about how easy it is to buy stuff today.
- 40:50: Put your money into these 4 buckets automatically.
- 44:40: How do you know if an online bank is legit?
- 47:35: What percentage of your income should be for living expenses?
- 51:10: Rule #2 of Tiffany’s Money Strategy: how to manage debt.
- 54:15: Use the snowball method to pay down your bills.
- 55:00: Or use the Avalanche Method to hit highest interest rates.
- 55:30: The Tsunami Method is best when one particular debt causes stress.
- 56:25: Rule #3: How do you save when you’re just making ends meet?
- 58:15: Use “dreamscaping” to motivate yourself when debt gets you down.
- 1:01:45: Do this so that you don’t go debt-free alone.
- 1:03:13: The 4 questions to ask yourself before you spend.
- 1:06:34: How much money should be in savings before you start losing?
- 1:08:20: Rule #4: How do you improve your credit score?
- 1:10:30: The 3 ways to boost your credit score quickly.
- 1:14:30: What to do before you ask your boss for a raise.
- 1:17:40: How to value yourself when you own a small business.
- 1:18:35: Tiffany’s favorite side hustles and advice to earn extra $$.
- 1:20:50: The tragic event that made Tiffany realize what’s most important.
Resources and go deeper:
- Check out her website at The Budgetnista
- Get Tiffany’s free ebook The One Week Budget
- Follow her on Instagram
- And find her on TikTok
- Buy Made Whole: The Practical Guide to Reaching Your Financial Goals
- Subscribe to her YouTube Channel
- Listen to her award-winning podcast
- Achieve financial wholeness through Tiffany’s course
- Get Smart with Money Netflix trailer.
- MarketWatch: Best online banks in 2024.
- Investopedia: 7 ways to recession-proof your life.
- NerdWallet: 7 best investments in 2024.
- The Penny Hoarder: 50 easy ways you could make extra money.
- Experian: Get your free credit report.
- CreditKarma: How to make your money work for you.
- Business.com: How to set a price for your service.
- BigCommerce: 20 tips for small businesses.
- Harvard Business Review: Money won’t make your life meaningful. This will.
More Episodes For You
The Mel Robbins Podcast with Alua Arthur
The Mel Robbins Podcast
The Mel Robbins Podcast with Dr. Jim Doty
The Mel Robbins Podcast
The Mel Robbins Podcast