Many of us weren’t taught about money and finances by our parents or the school system so we have to figure this thing out for ourselves.
Sometimes in the process, things just don’t go the way we planned and this could dishearten us, but it doesn’t mean we have to stay in that hopeless place. Take hope. Get up. Move forward. You can do it!
On today’s episode of The His & Her Money Show, Tonya Rapley, author of The Money Manual and founder of My Fab Finance, gives us some wisdom and insight on how to create wealth.
She is a millennial money expert, financial educator and overall change agent, passionate about helping people create lives that they love. She started her website in 2013 while working in the nonprofit sector and transitioned to being self-employed since 2015.
Tonya wrote her book, The Money Manual, after building community and getting to know her audience. It helps to identify what is important to you, what your goals are, what is the first step to take on your financial journey and then how to put an action plan together going forward.
How To Take Control
Through her years of research, Tonya noticed that many people are unaware that it is up to them to change their financial future. They expect some outer being to fix their problems for them, but by changing their behavior, advocating for what they are worth and using, really implementing the tools at their disposal, they will have success.
Tonya’s parents gave her a good base when it came to credit, making sure she had a good work ethic, and doing everything with integrity and valuing opportunities and people. But because they were in the military, they could not educate her about student loans, pension, money management, and other financial challenges that millennials face today.
She started her career in debt because of student loans and had to teach herself to dig herself out of that ditch. She felt she was always playing catch up and realized this was not the life she wanted for herself. That is when she started My Fab Finance.
Getting To The Root
If you feel that you are playing catch up, you need to identify what the issue is that’s keeping you in the situation that you’re in. For Tonya, her wake up call came when her salary was garnished due to a credit card loan that had been left unpaid.
She felt embarrassed and realized that she had to change her behavior and thinking towards money. She was living in New York and could not pay for financial advice, so she went to the library, took out some books, started reading them and started figuring things out for herself.
Tonya believes in creating goals for finances as it creates direction to achieve your one, five and ten-year plan. The goals should stack onto one another because your actions, better directed now, will contribute to achieving the outcome you want.
Tonya suggests that to change your wrong mindset, look out for stories that you can identify with about people that had changed their financial situation. This will help and encourage you when times get difficult.
Tonya loves the freedom that she now experiences. She can do what she wants when she wants. Take the first step. Read books. Listen to podcasts. Make the changes you need to make. And you too can experience financial freedom.
Get in touch with Tanya at her website http://MyFabFinance.com
WHAT YOU WILL LEARN IN THIS EPISODE
- Changing your financial situation starts with you
- How to change your behavior when it comes to finances
- How to dig yourself out of your money ditch
- What to do to lose the wrong mindset towards finances
- Why save while eliminating debt
- Why is it so important to speak to your spouse regarding finances
RESOURCES
- The Money Manual by Tonya B. Rapley
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