Most of us underestimate how much money stress actually effects us. The American Psychological Association conducts a stress survey every year and money is one of the top stressors every year. The 2018 survey found that 30% of youths are stressed about their family having enough money. Knowing what causes it would be a first step to addressing any money stress in your life. Money clutter can be visible or invisible. Let's talk about visible stress first. It could be stacks of

My last post focused on fostering a better relationship with money, making it your ally instead of something you deal with because you have to. This post is going to focus on taking your relationship with money to the next level. You can't move to this step without creating a friendly relationship with money, because until that happens it's very hard to believe the possibility of creating the financial future you want for yourself. With the right intentions, it's not just a p

Most of us have beliefs that prevent us from holding onto money even when we make a large amount of it. For example: "Money is the root of all evil" or "I hate money." Sometimes we don't realize that we are keeping more money from coming to us. Think about how often you think "Do I have enough money for this? 😰" or "When I have enough money, I will... 🙄" While you aren't telling money directly to go away, you aren't calling it with a beautiful call of "Money, yes please, c

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

In honor of Mother's Day tomorrow, I want to dedicate this post to my mom. She is a huge reason I'm on my journey today. Twenty-one years ago my mother made a journey of a lifetime. My parents decided to move from Russia to America in hopes to build a better future for my siblings and me. She was giving up her family, friends, a career as a pediatrician, and the only language she's ever used to start from scratch. Looking back as an adult, my mom made it all seem so effortles

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

Most people I speak with aren't thrilled to start our money talks. Some people feel anxious and stressed because that is what they are used to feeling when it comes to money. They want things to change but they also acknowledge that this change isn't going to be easy or occur overnight. It can be a reluctance to downgrade their lifestyle or fear of facing the consequences of their mistakes from their past. Everyone has their own reasons for avoiding their finances. Knowing yo

Before we go into advice for dealing with financial setbacks, it's important to address that not all setbacks are the same. Types of Financial Setbacks There are minor setbacks like a car emergency that required you to dip into your savings or slipping from your budget, making a purchase you couldn't afford and now can't return. These setbacks don't drastically change your overall picture. Maybe your savings is $500 less or your total credit card debt is up by $200, but overa

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

There is a tendency to classify debt into two groups: good and bad. "Good debt" is typically associated with investing in your future so that could be your student loans (as burdensome as they are) and a home. "Bad debt" doesn't add wealth or have any long-lasting value, a good example would be carrying high balances on credit cards and paying high interest. These classifications normalize debt and create shame around hardships that are out of your control. Unless you've inve