25 Smart Tips and Advice on Budgeting for the Big Stuff with Tonya Rapley



We are pretty sure that you will admit that your financial life can be a little better. Right? Ours too. We reached out to Tonya Rapley, Financial Expert and Educator, and Founder of My Fab Finance for a chat on 'Budgeting for the Big Stuff'. 

Getting financially fit and smart is a challenge for many of us and through this chat, Tonya shared some of the best tips, advice and proven ways of saving towards and budgeting for our short-term and long-term goals.

    Key Takeaways

    Saving smart means making it a priority in your life.
    Once you identify your spending triggers, it can help you to find ways to cut back and save towards your goals.
    Saving smart will take sacrifice to get to where you want to reach financially.
    Determining why a specific financial goal is important. Knowing your why helps you to keep focused on the end goal.
    Build multiple income streams, identify ways in which you earn additional income.
    There are no secrets to saving, it requires sacrifice and discipline.
    Audit your daily finances.
    Financially empowered makes their own rules, ALWAYS.
    Don’t buy non-necessities to compensate for the negative feeling associated with living paycheck to paycheck.
    Living Paycheck to paycheck can be a costly spending trigger in and of itself.
    Really assess your spending & stop buying things you can live without.$20 here, $15 there, another $15 here. Little stuff adds up.
    I’ve lived paycheck to paycheck. The biggest things I did was stop wasting the money and earn more outside my paycheck.
    I do believe until you learn to manage what you have you will never have enough. BUT don’t be afraid to earn what you are worth.
    Every month I was crying broke.I went on a “dining out fast” and only cooked my meals. “Found” an extra $200 in my budget.
    I made saving for trips and big goals a priority. I’ve realized that most of us have issues because of what we prioritize.
    Most of us at least have a surplus during tax or bonus time. Save that money for something big, not a series of shopping sprees.
    Look for travel deals because they are out there The Flight Deal is amazing.
    I didn’t travel abroad until it became a priority. Mind you I was making the same amount of money! I had to shift my priorities.
    Having separate savings accounts to help with saving for big goals is a must! You might even want to put that money in a CD or a Money Market fund so that it yields more interest.

    You do not need to access the money for your big goals until the opportunity arrives. Forget about that account until then.
    Consider asking people to help with your goal.If people can do GoFundMe campaigns for All Star weekend, you can too.
    Big goals are going to be scary. Don’t let fear stop you from achieving and being who you always wanted to be.
    I don’t believe in deprivation as a savings strategy. Treat yourself to something small but not everything small.
    Always be on the lookout for contests or specials. Dont be ashamed to use coupons.
    Remember a sale isn’t a sale and a treat isn’t a treat if you can’t afford it.

    Resources shared

    The Richest Man in Babylon
    By George S. Clason

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    Financial expert, Tonya Rapley shares solid tips and advice on budgeting for millennial women
    Certified Financial Expert, Tonya Rapley, shares smart tips and advice on budgeting for the big stuff,