Meet ‘the Budgetnista,’ the Financial Teacher America Needs Right Now

Elizabeth O'Brien is a senior writer at Money

Some financial experts speak in absolutes: Never buy lattes! Cut up all your credit cards! But Tiffany Aliche takes a more nuanced approach. She goes by the Budgetnista, and despite the catchy name, she’s quick to say she’s not a guru. She’s an educator, and her lessons offer hope for Americans who have seen their finances — and confidence — pummeled by the pandemic. Drawing on her teaching degree and her own experience clawing out of debt, she helps people with the basics of budgeting, investing, estate planning and more. Aliche has also created a community, called the Dream Catchers, which offers support and accountability for people working toward their financial goals. Read her inspirational story in today’s edition.

Best wishes,
Elizabeth

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TIMELY RETIREMENT NEWS, INSIGHTS, AND ADVICE

5 Lessons About Money (and Life) From the Budgetnista, the Financial Educator America Needs Right Now

“I’m here to give you the tools and the lessons you need so you can save yourself.”

What 5 Billionaire Investors Really Think About the Soaring Stock Market

They answer the question, are we in a bubble?

Yes, You Can Buy a Car With a Credit Card and Earn Tons of Points. Here's How I Did It

Pro tip: for this to work, you have to pay your balance in full.

RETIRE WITH MONEY COMMUNITY INSIGHTS

This week in our Retire with Money Facebook group, one member posed a common question: “Anyone have any tips on how to change your mindset from saving during the working years to being ok with spending during retirement?” It’s not always easy to flip the switch. One member advised, “I put a line item in the budget called “allowance.” Seeing it a part of the budget gave me permission to spend.” Another said she had a lot of trouble withdrawing money from her retirement accounts in the beginning but, “It gets easier as time goes by.” If practice and budgeting don’t work for you, I’d suggest hiring a fiduciary financial advisor — that is, one who is obligated to put your best interests first. Advisors have modelling software that can run projections on your money and tell you how long it will last under various scenarios. If you’re told, for example, that you have a 95% chance of not running out of money by age 95, even under poor market conditions, that will give you permission to spend.

top picks from the site's editors

Why Are Mortgage Interest Rates Strangely Low?

To keep money flowing as the economy sank, in March 2020 the Federal Reserve reduced short-term interest rates to near zero and started buying lots of mortgage backed securities. This support allowed mortgage interest rates to drift lower and hit multiple record lows before the end of the year. As of January 21, the average rate for a 30-year fixed-rate mortgage was 2.77% — a level once considered unfathomable.

Find out how much you can save

RETIREMENT NEWS FROM AROUND THE WEB

Experts Forecast Stock and Bond Returns for This Year

Firms have ratcheted down their expectations. MORNINGSTAR

Terrible Financial Advice Is Going Viral on TikTok

Warn the young people in your lives. VOX

My Investment Portfolio: 2021

A retirement blogger outlines his holdings and explains why he bought a home after years of advocating renting in retirement. CAN I RETIRE YET?

How to Treat Your Body Kindly As It Ages

Gratitude is a great fuel. NEXT AVENUE

Elizabeth O'Brien is deputy editor at Money. She has covered retirement and health care for nearly a decade. A Brooklyn resident and mom of two boys, she navigates the alphabet soup of Medicare and the New York City subway system with equal ease. You can email her at elizabeth.obrien@money.com and follow her on Twitter at @elizobrien.

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Meet ‘the Budgetnista,’ the Financial Teacher America Needs Right Now

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