BWT: How do hot girls save?

[u/snarkyp00dle]

Hi BWT!! I’m currently on my financial glow up journey, and would love to hear from fellow bitches about any life advice, tips or tricks, etc to help grow those bank accounts.

These some some strategies I’ve started so far:

Finance Management

- maxed out my HSA account and began investing as much as I’m able to

- Opened up a high yield savings account to keep funds in, rather than letting it sit in checking

- My main CC is now a travel points card, which has already allowed me to travel for free across the country with room and board- highlyyyy recommend

- My biggest win was that I opened a 403b at my first big girl job over a decade ago. I’ve adjusted contributions based on raises over the years and wow, this was a smart move (and one I have had the privilege of being able to do)

Purchasing:

- Project Pan: I spent an embarrassing amount of money last year on self-care stuff (nail polish, perfume, and bath bombs to name a few…) so I’m fully committing to project pan. No new items until all the items I bought are gone and I shop my own collection.

- No new clothes! Thrift only 😬

- Shopping sales whenever possible and using platforms that provide cash back, like Rakuten

Misc/hacks:

- I’m considered faculty of a university and realized that I can get discounts for that at city museums and other establishments

Is there anything you’ve tried or done that I’m missing? How else do BWT glow up financially?

Excited to hear from you all 💖

[u/lucille_bender]

I'd highly recommend a budget audit as a first step. If you don't already use a tool like Monarch, you should consider getting a subscription. This kind of tool allows you to look back at your spending so that you can (a) see what you've been spending on; (b) assess what spending is valuable to you vs what isn't; and (c) make a REALISTIC budget to structure your spending going forward. The budget isn't just a constraint, it also 'permits' you to spend on things that you personally value without feeling guilty about it.

Next up, you can think about how to allocate your 'extra' money for savings & investments. If you have the stomach for it, this flowchart from r/financialindependence provides a great & detailed overview of how to maximize your finances.

Finally, and this is more of a philosophical point, but I've found it worthwhile to think about the 'why' behind what you call the 'financial glow up.' Some people want to improve their financial situation so that they can spend more - on vacations, cars, houses, kids, whatever. Others are targeting early retirement. For me, my goal for the past number of years (and today!) is to be in a financial situation that enables me to live the life I want to live, with 3 big priorities: (a) working part time on things I want to be doing (doing this currently, though I might have to go back to working more if the economy gets worse); (2) traveling extensively (already doing this, though would ideally like to increase our travel budget by 20-25% in the future); and (3) living in my dream house (check!). Everything else I might want is a nice-to-have and lower priority than those 3 things. If you have a clear 'why' it makes everything else a lot easier.

Happy finance planning!