Happy Friday the 13th, y’all!
Have you heard the traditional financial advice that dictates we allocate all of our money to paying off debt as fast as possible, or that we invest in buying a house ASAP because renting doesn’t provide a return on investment?
Today, we’re giving you permission to find the radical middle between traditional advice and what works for you.
Big money moves might be a hot topic, but small changes over time are just as powerful.
When it comes to debt, investing, and consumption, there is no “right” way to do things. There’s only what’s beneficial for you and your community.
Let’s take a look:
1. Investing Vs. Paying Off Debt. Have you heard that you should stop investing while paying down high interest debt? It might save you money in the short term, but perhaps you’d be missing out on your employer match for your retirement account. The employer match is a benefit that’s built in by the company when they offer you a position, which means that to not invest is to walk away from your rightful benefit. Here is your permission to do both. Take your employer’s match AND pay off debt. 😉
2. The Debt Payoff Journey. Paying off debt can feel like a never-ending rat race, especially when inflation is so high. Sometimes, we have other life events that take precedence over other goals. Whether that’s having kids, caring for a loved one, or moving to a new country, it’s okay to delay your debt payoff by a year or more if it allows you to focus on your priorities in the present.
3. Consumerism. It seems like influencers are on every feed nowadays. Whether they’re hocking the latest kitchen gadget or selling you on new clothes, give yourself permission to take what will benefit you and leave the rest. It’s okay if you want to thrift all your new outfits, or do without the new skincare product. When it comes to managing consumerism, there is no “one size fits all.”
💡 Take What Works, Leave the Rest.
As you evaluate your season, give yourself permission to do something different with your money. It’s possible you will find your version of the radical middle. Not to mention confidence and guilt-free money moves!
Interested in simple luxuries? Tuesday’s episode tackled this topic head on with guest Shannon Ables from The Simple Sophisticate. Listen to How Contentment Leads to Better Spending with Shannon Ables (Ep 440) for a great conversation about valuing the small things in life.
A budget isn’t for everyone, but there are ways to manage our money without writing in line items every month. Jen & Jill address this in today’s episode How to Thrive Without a Budget (Ep 441).
Listen wherever you get podcasts and let us know what you thought of the episode over on our latest Instagram post!
✅ Read: Pre-order Buy What You Love Without Going Broke for a deep dive on giving yourself permission to do finance differently. 📖
✅ Watch: Inside Out. It’s a surprisingly heartfelt look at emotional intelligence for people of all ages, and with movie #2 set to hit streaming services in two weeks, it’s time for a refresher.
✅ Do: Looking for an impartial & humorous news source? Sign up for the DONUT for free and get a daily newsletter straight to your inbox. I (Kim) personally love their “Positive Donut” which is an email that comes every Tuesday with heartwarming news that always brightens my day. 🥹 **
✅ Meal Prep: These oatmeal cottage cheese pancakes! They’re high in protein & fiber, and you can add whatever fruits you want on top for a sweet trip. Simply stick in the fridge and warm up for days for a week of filling breakfasts! 🧀
Spending is a skill and you can learn to master it. If you’ve ever struggled with being unable to stick to a budget or felt guilty about spending on something you enjoy, Jen and Jill’s upcoming book is going to be your next favorite read.
Grab your pre-order gifts. Free With EVERY pre-order. 🥳
Kindly,
Kim
⭐️⭐️ P.S. Want to share all this goodness with your friends AND earn cool Frugal Friends merch?
**Means this is a sponsored or affiliate section. We may earn a small fee or commission when you choose to try one of our sponsor or affiliate partners. But opinions are still 1000% our own.