Own Your Money

Auteur

Michela Allocca is a Financial Analyst and entrepreneur specializing in Gen Z and Millennial money management. She focuses on instilling sustainable and intentional spending, saving, and budgeting practices into your life so you can reach your 6-figure savings goals. With hundreds of thousands of followers on TikTok and her own set of signature online courses, Michela has successfully built a platform that speaks directly to the growing number of young people who are ready to take their financial power back. Notable brand partners include Refinery29, Truebill, H&R Block, Fundrise, Credit Sesame, and Stash. Find her as @breakyourbudget on social media and at breakyourbudget.com.

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In Own Your Money, Michela Allocca offers a new, empowering take on how to budget, spend, and invest-for 20-somethings and beyond!

Contenu

Contents
Introduction
The Hardest Years of My Life Were the Best Thing
That Happened to Me
Lesson #1: Once the Bills Start, They Never Stop
Lesson #2: If You're Serious About Saving, You Must
Prioritize and Make Sacrifices
Lesson #3: Your Life is a Result of Your Choices
Lesson #4: You Can Find Happiness Working a 9 to 5 Job
Chapter 1: Get Organized, Get Started
Pull the Blinds Back: What is Your Financial
Situation Right Now?
Your Financial Snapshot
Phase 1: Laying the Groundwork
Phase 2: Assess Your Cash Flow
Phase 3: Your Monthly Output
Phase 4: The Details
Financial Framework for Success
Net Worth: The Most Important Measure of Your Finances
What is Net Worth?
Ways to Increase Your Net Worth
The Bottom Line
Chapter 2: Budget Is Not a Bad Word
Budget Myth-busting
Building a Foolproof Budget
Step 1: Zero-based Budgeting
Step 2: The Three-bucket Budget
Step 3: 50/30/20 Budgeting
Budgeting Tools
Budgeting Spreadsheets
Budgeting Apps
Chapter 3: How to Set and Reach Your Financial Goals
Setting Financial Goals the Right Way
SMART Goal-setting Method
Specific Goals
Measurable Goals
Achievable Goals
Relevant Goals
Timely Goals
Incorporate Your Goals into Your Plan
Prioritize Your Goals
Order of Operations
Saving Beyond the Order of Operations
Financial Goals Examples
Chapter 4: Spend Your Money on Things That Matter
Stop Spending Money on Sh*t You Don't Care About

1. Overspending
2. Treating Your Credit Card Like Free Money
3. Emotional Shopping
4. Lifestyle Inflation
5. Avoidance
   The Benefits of Conscious Spending
6. You Don't Have to Focus on Spending Less Money
7. You Can Buy Things You Actually Want
8. You Will Have Money to Fund Your Goals
9. You Will Feel More Financially Confident
   Chapter 5: Investing? Never Heard of Her
   Saving Isn't Enough
   Compound Interest: The Eighth Wonder of the World
   Set Yourself Up to Invest
   Layer 1: Employer 401(k) + Match
   Layer 2: Individual Retirement Account (IRA)
   Layer 3: Taxable Investment Account
   Optimize Your Strategy with Automation
   Investment Types
   Stocks: An Individual Flower
   Mutual Fund: A Fancy Floral Arrangement
   ETF (Exchange Traded Fund): A Bouquet
   Bonds: A Gift Card to the Flower Shop
   Do You Need a Financial Advisor?
   Chapter 6: Success is Hidden in Your Routines
   So You Want to Change Your Life?
   Whip Your Assets Into Shape
   Financial Routines
   Weekly Money Review
   Payday Routine
   Monthly Money Review
   Signature Money Management System
   Money Mapping
   Money Flow
   Accountability Plan
   Financial Self-care
   Chapter 7: Career Conundrum
   Your Dream Job Doesn't Exist
   What is Your Definition of Success?
   Task-tracking at Work
   Track Your Daily and Weekly Responsibilities and the
   Value-add for Each
   Implement Monthly Career Reflections
   Identify and Evaluate Your Accomplishments
   on a Set Cadence
   Learning vs. Earning
   Navigating Career Pivots
   Phase 1: Determine What You're Looking For
   Phase 2: Change With Confidence
   Chapter 8: Increase Your Earning Potential
   Asking for a Raise or Promotion
   Preparation for a Promotion
   Timing is Everything: Performance Conversations
   But Wait! What Not to Do
   Changing Jobs
   Side Hustles
   Find Your Side Hustle
   Balancing a Side Hustle with a 9 to 5 Job
   Closing Thoughts
   Live Life Outside the Spreadsheet
   Don't Be Afraid to Spend Money to Make Money
   Say Yes to Life (Thanks to a Financial Plan)
   What is Financial Success to You?
   Resources
   Acknowledgments
   Index
   About the Author