Quick Women’s Guide to Finances with Nicole Lapin
With a new year comes new goals! Or the same goals as last year with a more driven you. When reaching towards new goals, money will always be an underlying factor. A new vacation, moving into a new place, redecorating your space for inspiration, joining a gym, or having meals delivered directly to your door will all cost you.
Today you will have all the inspiration and tools you need to jump start and maintain financial health this year and for years to come!
I have interviewed Nicole Lapin, a badass woman in the financial sector, to help get you on track.
Nicole Lapin is the author of the New York Times instant bestseller Rich Bitch and the star of the nationally syndicated business competition reality show Hatched. She was the youngest anchor ever at CNN before holding the same title at CNBC, anchoring Worldwide Exchange, while contributing financial reports to Today and MSNBC.
Keep reading to win copies of her books!
Lapin has served as a business anchor and special correspondent for Bloomberg Television as well as the money-saving correspondent for The Wendy Williams Show. She is currently Redbook magazine’s first-ever money columnist and was named the first-ever female “Money Expert of the Year” in 2015. Lapin is an Accredited Investment Fiduciary and graduated as valedictorian from Northwestern University.
I went through a bunch of certification classes and am an Accredited Investment Fiduciary. I know that sounds cool. But what’s more cool is that I went to the school of Hard Knocks. I got myself into debt, I got out of it.
I was clueless when talking about money and then I became an autodidact until I ended up speaking it to the world on major business news networks like Bloomberg and CNBC.
But, no, I didn’t work at a bank or get my MBA so if you wanna listen to someone who has, please do. I’m not that girl. I did it the scrappy way and I stand by the idea that if I can do it…anyone can do it.
I don’t know about you, but I am already crushing and inspired. 😍
Here is the interview:
Have you always been interested in empowering women?
Yes! There’s a lot of smiling and nodding going on, where women don’t know financial terms or concepts but pretend they do instead of asking, already! You need to learn the language of money—and don’t think you don’t because you aren’t on TV talking about it.
Money speak comes up in all aspects of life: from jobs to social situations to relationships. So the sooner you can understand and speak it, the sooner you’ll be able to accomplish what you want to accomplish and the sooner you’ll be able to live the life you want to live—that’s what being a Rich Bitch is all about.
What’s one or two pieces of financial advice you would give to someone who loves to shop?
Create a Little Budget Diary that fits you. Budgeting does not mean having less fun. It means making conscious decisions about how you're going to deploy your money based on how you want to live. It means more choices, not fewer. It makes your finances a lot less scary when you know exactly where your money is going and it gets rid of the buyer's remorse because you've accounted for it.
Your 20s and early 30s are your peak saving years, laying the foundation for those "big" purchases down the road (a car, a house, a family, etc.). However modest your paycheck might seem, develop a system to stash some of it every month. We like the automatic savings plans offered by many banks because they drop a preset amount of your paycheck into your savings account every month—you don't even have to see it!
Or you can get creative; for example, by putting any $5 you receive back in change into savings, or by doubling the amount of "fun money" you spent at the end of each month into your savings.
I like to think of a financial diet like a food diet. In fact, I even like to say "spending plan" instead of "budget" because it's something sustainable like an "eating plan" as opposed to some crash fad diet. I think too often people try to cut everything out when they try to get their financial lives in order. I'm a big believer of small indulgences.
I argue for the morning latte because it's the equivalent of eating a Hershey's kiss in a food diet, it keeps you on track and keeps you from binging later on because you don't feel so starved an deprived. If you cut out all fun purchases in hopes of reaching financial freedom, you'll crash and burn. It's not sustainable.
More likely than not you'll end up splurging on something that throws off your whole budget because you felt so "hungry" but cutting everything fun out. Same thing goes for food, who's tried to cut out every carb or every bit of sugar only to find themselves noshing on a loaf of bread in the middle of the night (I'm guilty of that!) Financial confidence and building wealth starts with a plan you can actually stick to.
And if you do slip up on your budget, don’t panic. You can recover—but you’ve gotta act now. Do double-time on your credit-card payments. Those credit card charges add up faster than you might think, and you may end up paying $50 for a pair of socks before you’re through paying off your cards.
Of course, the best solution is to pay off the balance of your cards right when the statement arrives, but that isn’t always a viable option. Instead, try to curb enough of your other expenses (take from your “fun money” category first) to double-down on your payments each month until your splurge is covered.
How often do you shop?
With my busy schedule, especially while I’m on a national book tour, I find myself buying things as I need them rather than doing a big shopping trip. I typically order online, and then have everything shipped to the next stop on my tour or city I’m going to be in. It’s not the most fun or glamorous approach, but it does the trick!
(And pro tip for shopping online: clear your cookies! Go into your browser settings and clear those cookies so that items you search for online don’t follow you all over the internet until you buy them. It’s a great, proactive step toward nixing buying stuff you don’t really need.)
What article of clothing can’t you live without?
Beige pumps. They go with everything, make any outfit more polished (even jeans and a t-shirt) and elongate your legs for days!
About Nicole's books:
Boss Bitch Blurb:
New York Times bestselling author Nicole Lapin is back with a sassy and actionable guide, empowering women to be the boss of their own lives and careers.
You don’t need dozens or hundreds of employees to be a boss, says financial expert and serial entrepreneur Nicole Lapin. Hell, you don’t even need one. You just need to be confident, savvy, and ready to get out there and make your success happen. You need to find your inner Boss Bitch—your most self-assured, intelligent, ambitious self—and own it.
A Boss Bitch is the she-ro of her own story. She is someone who takes charge of herself and her future and embraces being a “boss” in every sense of the word: whether as the boss of her own life, a boss at work, or the literal boss of her own company (or all three). Whichever she chooses, being a Boss Bitch isn’t something to apologize for—it’s something to be proud of!
For more of Nicole and her valuable content:
One reader will win a copies of Rich Bitch and Boss Bitch!
Add a comment below to win and I will personally choose a winner. All you have to do is be authentic and honest ❤️️ The giveaway closed 1/11.
Does this motivate you to take back your financial power? What do you think about Nicole’s story? Will you rethink how you shop?
Post a comment or question below and don’t hesitate to share this post and help create a cycle of rich bitches 😘
& remember to allow your authentic self to empower the women around you