How can you apply the envelope system as a saving strategy in today's cashless world?

This weekend it feels like summer has finally reached us in NYC! I've been dying for some natural vitamin D so I'm stoked 😊 As the weather warms up, people are more likely to go out. Chances are you'll have more spontaneous plans come up than you would in the winter. Just like impulse shopping, spontaneous plans can throw you off track for the week or the month. Summer FOMO is dangerous for your budget because most often it involves spontaneous spending. Maybe it's a last mi

We've all seen the generic blanket advice, laid out like a cookie cutout to be read by countless eyes. Usually told very matter of fact, as something you should have known. "By the age of 30, you should have an entire year of salary put away in savings." Fidelity has a nice summary of this what-you-"should"-be-saving advice: Personally, this is the first time I heard this advice. Considering I'm hearing it a week before my 30th birthday is not very reassuring! 😅 I believe we

Just like many good choices, it doesn't actually always feel good making those decisions. I've learned the tougher it feels making a smart money choice, the better the choice is for your wallet. The hardest part about making smart choices, the chance of making a smart choice is 50% each time. Irrelevant of the choices you made up until this point, the wrong choice will always be on the table. If you're not careful, it can wipeout all of the hard work you've put in. A poor mon

Dear Olga, What is a good way to maximize savings? Thanks, May Dear May, The best way to maximize your savings is to build your savings goals into your monthly budget and set intentions for your savings. By building your savings goals into your budget, you will be paying yourself first each pay period and less likely to borrow from yourself in the future. If you're not using a budget already, the first step would be to review your income and spending. You can find a budget te

Dear Olga, I have a new business and have modeled my budget in a very similar way to my personal budget but now I am wondering if I should be using a different method. Are personal budgets vastly different from a business in its infancy? Data Gal Dear Data Gal, Congratulations on your new business! An exciting adventure 😊 Finance is one of those areas that is ignored at first by many businesses, because the focus is more on making money to have cashflow to continue developin

Dear Olga, What percent should one put aside for savings every month? I have a 401k and mutual funds that I pay into monthly, but how much should I be saving on my own for a "just in case" scenario? R.A.Y. Dear R.A.Y., Instead of telling folks what to do with their money, I prefer to teach the decision-making process that will help them to navigate their situation and provide tools that build money smart habits. I believe if your strategies don't resinate with you, then the