Tag: finance

April 2025

MONEY TALK | How to Use Money to Build Your Dream Life

Elizabeth Yuen

A lot of people have a complicated relationship with money. Whether it’s stress, fear, or simply a lack of knowledge, finances can feel overwhelming. There are so many misconceptions about what it means to be financially successful, and often, we feel like we need to have it all figured out right away. But when you’re going after big dreams—whether it’s writing, starting a business, or pursuing something else—you need to get clear on your relationship with money and how it can work in your favor.

My husband and I have built a six-figure income, which might sound like we can just buy whatever we want. But that’s not the case. We know that in order to live off of our income without overspending, we have to be intentional about every purchase we make. It’s not about how much we make—it’s about how we manage it.

The Spending Flow: Is It Worth It?

When I see something I absolutely love and think I need to have, I go through a simple but powerful spending flow to help me decide whether it’s truly worth the purchase. I ask myself a series of questions to evaluate the necessity and value of that item:

  • Should I buy it?
  • Do I love it?
  • Did I need it like yesterday?
  • Do I really want it?
  • Can I borrow it?
  • Is it really a necessity?
  • Would it improve my life?
  • Do I truly need it?

These questions help me make a decision that aligns with my values and goals, and they keep me from buying things I might regret later. By answering them honestly, I can save money and stay focused on what matters most.

With social media, it’s easy to get caught up in the pressure to keep up with the Joneses—the idea that we need to match the lifestyles, possessions, and achievements of those around us. But constantly comparing ourselves to others can be draining and counterproductive. True financial success isn’t about having the same things as everyone else or living up to someone else’s standards. It’s about aligning your spending and goals with your own values and priorities. By focusing on what you truly want in life—not what others think you should have—you can create a financial plan that works for you and brings fulfillment without the stress of trying to match someone else’s pace.

Focus on the Goals, Not the Numbers

Here’s the thing: we don’t focus on the actual numbers we’re bringing in as much as we focus on what we can afford. I know that sounds crazy, but hear me out. Our goal isn’t to make more money just for the sake of it. Our focus is on the goals we’re trying to achieve with what we’re already earning.

Take, for example, one of our goals: buying a lake house. Can I afford that right now? No, not yet. But one of our current achievable goals is to have annual Carowinds season passes so I can take my son there every day during the summer. That’s something we can absolutely afford right now, and it brings us so much joy. We prioritize goals like that because they’re aligned with our lifestyle.

Prioritize What Truly Matters

When we focus on our big goals, it becomes easier to let go of the small, superficial purchases. Why would I order Uber Eats when I’m saving for a closet upgrade? Why would I splurge on designer clothes when my focus is on upgrading my laptop and vlogging tools to create even better content for my YouTube channel?

By making intentional decisions, we’ve learned that our money is best spent on things that truly align with our long-term dreams and current priorities. It’s about investing in the things that move us forward, not just the things that feel good in the moment.

Define Your Priorities First

I think the key to managing money is simple: start with your priorities. What do you want your day-to-day life to look like? Once you figure that out, you can start designing your finances to support that vision. Whether that’s saving for travel, upgrading your home, or building a creative business, knowing your priorities will make your financial choices so much easier.

Money is a tool to help you build the life you want, and when you focus on your priorities, you can make sure every dollar is working toward your dreams, not just your next impulse buy.

Saving and Investing for Long-Term Financial Freedom

While it’s essential to stay intentional with your spending, it’s also critical to think about saving and investing for the future. Saving a percentage of your income each month can give you the security you need for emergencies and future plans. I recommend saving at least six months’ of living expenses in case of emergency. And don’t just keep that in your normal bank account. Find a high-interest savings account that you can dump that money into. I think the one that we use gives us like 5% on what we’re throwing in there.

On top of that, investing in the right avenues and diversifying your accounts can help your money grow, setting you up for long-term financial freedom. This isn’t something you need to figure out all at once, but the sooner you start, the better. There are tons of investing apps you can look into.

Plus, if you work in corporate and they have a 401K match, then go ahead and do that. Seriously, it’s free money, and you don’t want to miss out on it.

There’s no one-size-fits-all approach to managing your finances, but if you start with a clear vision of your priorities, manage your spending intentionally, and invest wisely, you can build a stable foundation for your future. Ultimately, financial planning isn’t just about having enough money—it’s about using money as a tool to live the life you’ve always dreamed of.

Enjoying Life’s Little Splurges

Even with all of this budgeting and being intentional about my spending, I still allow myself to splurge on things that bring me joy and contribute to my well-being. For me, it’s things like my Daily Grind Planner goodies, which help me stay organized and inspired as I work toward my goals. I also make sure to get my nails done once every two weeks because it’s a small self-care ritual that makes me feel confident and refreshed. Another thing I invest in regularly is quality, supportive shoes that help me stay comfortable, especially during long writing sessions or when I’m on my feet more than usual.

My husband also enjoys splurging on things he loves—like buying video games. It’s his way of unwinding and enjoying his downtime, which is just as important as the work we put into achieving our goals. These are the things that make life enjoyable and balanced. We don’t see them as “wasteful” purchases, but rather as intentional investments in our happiness and well-being.

I recommend sitting down and making a list of all the things that make you happy that cost money. Then, start ranking them. The top three to five items are going to be what you splurge on. The rest can be re-evaluated as you move forward with your new money mindset.

Funding the Life You Want

The key takeaway is that your money should be funding the life you want. It’s not about depriving yourself of the things you enjoy or always saying no to little indulgences. It’s about making sure that the majority of your spending aligns with your bigger goals, and then allowing yourself the freedom to enjoy a few things that truly make you happy.

By thoughtfully budgeting and investing in things that are aligned with our priorities, we’re able to enjoy these little splurges without feeling guilty. In fact, they’re a reminder that financial planning isn’t just about saving and investing for the future—it’s also about creating a lifestyle today that brings fulfillment, joy, and balance. So, indulge a little here and there, but make sure that the way you’re spending your money is always contributing to the life you envision for yourself.

lifestyle

How to Save for the Big Leap: Building a Financial Cushion to Pursue Writing Full Time

Elizabeth Yuen

Financial security was a priority when I decided to transition to full-time homemaking and pursue my passion for writing. Building a safety net was essential before making this leap. Read on to find out how I approached this massive life change and for tips and tricks to help you make your own leap of faith.

1. Setting Up an Emergency Fund

The first step was creating an emergency fund. I aimed to save at least three to six months’ worth of living expenses. This fund can be separate from your regular savings and should be strictly reserved for emergencies—unexpected home repairs, medical expenses, or anything life might throw my way. To stay disciplined, I recommend setting up automatic transfers into a high-yield savings account, making it easier to watch your fund grow.

Setting up an emergency fund can seem daunting at first, but if you start small, it can add up over time. Plus, by choosing an account that earns interest but is still accessible when needed, you can access your funds quickly should an emergency arise.

2. Paying Off Debt

Debt can be a heavy burden, especially when income might become less predictable. Before becoming a full-time homemaker and writer, I made paying off high-interest debt a top priority. I recommend paying off high-interest debts first (like credit cards), as it accumulates quickly. When I first started, I used Dave Ramsey’s “debt snowball” method to get me going. By eliminating my student loan debt, I reduced the pressure on my budget, freeing up more money for day-to-day expenses and savings.

3. Budgeting for a Financial Buffer

In addition to my emergency fund, I created a financial buffer for the unpredictable costs that come with managing a household and creative work. I anticipated the expenses related to my writing career, from purchasing books and writing tools to attending workshops or even hiring a babysitter for dedicated writing time. Having this buffer in place gave me the confidence to explore opportunities without the constant worry of overspending.

If you’re planning on leaving a typical nine-to-five job, I recommend setting aside funds specifically for your creative and/or career-related expenses. I also recommend accounting for irregular or seasonal costs (Christmas gifts, anyone?) when budgeting.

4. Living Within (and Below) My Means

One of the most important habits I developed was living below my means. This allowed me to continue saving, even as I focused on managing a household. Tracking expenses, cutting unnecessary costs, and prioritizing essential spending helped keep my finances in check.

I started doing this well before I ever got married. I would regularly review my spending to find areas where I could cut back. I also made lifestyle adjustments when I was single that supported my long-term financial goals like taking up exercise that didn’t cost much money (running, hiking, or using my old apartment’s gym equipment over an expensive gym membership), doing free activities (going to a park for a date, cooking for friends at home instead of going out, volunteering for charities to make even more friends), and making sure I was eating at home a lot of the time.

5. Planning for the Long Term

Finally, I didn’t lose sight of my long-term goals. Even while focusing on immediate financial security, I made sure to contribute to retirement accounts and consider my future financial needs. Balancing short-term demands with long-term planning helped me feel more secure in my decision to become a full-time homemaker and writer.

Conclusion

Building a financial safety net allowed me to confidently step into full-time homemaking and writing. With the right planning—saving for emergencies, reducing debt, budgeting wisely, and living below my means—I was able to pursue my passion without sacrificing financial security. For anyone considering a similar path, careful financial preparation can make all the difference.

career, lifestyle

How We Live Frugally to Support My Writing Career

Elizabeth Yuen

For as long as I can remember, I’ve dreamed of being a writer and a full-time homemaker, balancing the creative joys of storytelling with the satisfaction of nurturing a family. But as with most dreams, there were financial realities to face. Becoming a stay-at-home mom and pursuing my passion for writing meant making some serious changes in how we approached money.

Adopting a frugal lifestyle has been key to making this dream a reality. By being mindful about our spending and focusing on what truly matters, we’ve found a way to live comfortably, enjoy life, and support my aspirations as a writer, all while sticking to a tight budget. I’d love to share a few strategies that have helped us, with tips for budgeting as a family, low-cost activities, and making smarter financial choices.

1. Set Clear Financial Goals

The first step in our frugal journey was getting clear on what we wanted. My dream of writing and homemaking meant transitioning to a single income, so we needed to assess our financial situation and set clear goals. We started by determining how much we needed for basic living expenses—like housing, utilities, food, and savings—then calculated how much we could save by cutting unnecessary spending.

Tip: Write down your long-term financial goals, whether it’s buying a house, starting a business, or simply living debt-free. This will guide your spending choices and keep you motivated.

2. Create a Family Budget

One of the most effective tools for frugal living is a solid budget. We sat down and created a family budget that broke down our monthly income and categorized our expenses. From groceries to entertainment, we tracked every penny to see where we could cut back.

Tip: Use a simple spreadsheet or a budgeting app to track your income and expenses. Set realistic spending limits for each category and review them regularly to stay on track.

3. Plan Low-Cost Family Activities

Being frugal doesn’t mean sacrificing fun. In fact, we’ve discovered that some of the best family memories come from simple, low-cost activities. Instead of pricey outings, we opt for budget-friendly experiences, like visiting local parks, having movie nights at home, or taking nature walks.

We also love DIY projects—whether it’s a home-cooked meal together, a craft afternoon, or even a themed family game night, these activities foster connection without costing much.

Tip: Check out community events, free museum days, or local libraries, which often host free or low-cost programs for families. Prioritize time spent together over expensive outings.

4. Get Creative with Groceries

Groceries are one of the biggest expenses for a family, but there are ways to save without sacrificing quality. I’ve learned the art of meal planning, buying in bulk, and cooking from scratch, which has helped us cut costs significantly. We also avoid pre-packaged convenience foods and focus on whole, versatile ingredients that can stretch across multiple meals.

Tip: Plan your meals around what’s on sale or in season, and don’t be afraid to try generic brands—they often taste just as good at a fraction of the price. Batch cooking and freezing leftovers also helps reduce waste and save money.

5. Prioritize DIY and Secondhand

We’ve embraced the DIY mindset and learned to fix, create, and repurpose things ourselves. From simple home repairs to crafting my own décor, I’ve found that doing things myself not only saves money but also brings a sense of accomplishment. When we do need to buy something, we turn to secondhand stores, online marketplaces, or swap with friends and family.

Tip: Before making any purchase, ask yourself if it’s something you can borrow, buy secondhand, or make yourself. This small shift can lead to big savings over time.

6. Focus on Needs, Not Wants

Living frugally has taught us to differentiate between needs and wants. Every purchase is considered carefully—will this item add value to our lives, or is it something we can do without? This mindset shift has helped us avoid impulsive spending and focus on what truly matters.

Tip: When tempted to buy something, give yourself a cooling-off period. Wait 48 hours and see if you still feel the same urge. Often, the desire passes, and you’ll be glad you didn’t make a hasty purchase.

7. Build an Emergency Fund

One of the best financial decisions we’ve made is prioritizing an emergency fund. Having savings set aside for unexpected expenses, like car repairs or medical bills (or dealing with house emergencies, like our flooded first floor), gives us peace of mind and prevents us from relying on any credit cards. Even with a frugal lifestyle, emergencies happen, so having a cushion is essential.

Tip: Start small by setting aside a portion of your income each month until you reach at least three to six months’ worth of living expenses. Automating your savings can help make it a consistent habit.

By being intentional with choices surrounding money, I’ve been able to focus more on my writing and homemaking without the stress of financial strain. Living frugally does not mean giving up on any enjoyment or comfort––it just means being strategic, resourceful, and thrifty with what you’ve got.

With thoughtful budgeting, low-cost family activities, and smarter spending habits, my dream of being a writer and homemaker is not only possible but fulfilling in ways I hadn’t imagined.

If you’re looking to follow a similar path, I hope these tips inspire you to embrace a frugal lifestyle and pursue your own passions. Every penny saved is a step closer to your dreams!

career

One More Reason to Save…

Elizabeth Yuen

Written by Liz Britton

Just this past January, Paulette Perhach wrote an article for The Billfold called “A Story of the Fuckoff Fund“. The article depicts a nightmarish scenario where the main character (you) has just graduated college and is off into the world of adulthood. Little expenses such as lunch out with coworkers and shopping for pricier clothing add up, and the main
character gets into a relationship with a seemingly nice guy. Things get serious and the main character moves in with the boyfriend.

Things spiral downward fast when the “nice” boyfriend turns abusive and the boss starts hitting on the main character. Panicked, the main character has no idea what to do.

But Paulette Perhach provides a “choose your own adventure” option.

The first nightmarish scenario she provides could happen, or you could start your very own F*ck Off Fund right out of college like the main character in the second scenario. By shopping in thrift stores, skipping out on the expensive lunches with coworkers, and taking up a weekend job, the main character builds a strong F*ck Off Fund. This fund is meant to be her parachute – the thing that keeps her afloat when all hell breaks loose in her life.

The moment her boss starts hitting on her, she is able to drop by HR, report his creepy butt and strut out the front door. Living with an abusive boyfriend? No problem – she’s outta there and in a fabulous hotel room, searching for a new apartment just for her.

So many people fall into the trap of thinking that they’ll be fine and be able to rely on their SO or their parents to help them out with a financial crisis. In order to avoid this, the author suggests living like you’re still a broke college student. Don’t eat out, waitress on the weekends, buy from the thrift stores, and always keep your finances on the forefront of your mind.

Read this article to see how you can build your own F*ck Off Fund.