5 Rules of Money: How to Make It, Save It, & Be Smarter About It

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.