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5 Steps to Financial Health

5 Steps to Financial Health

By TheBudgetnista -  Tags: , , ,


Hey hey hey!

Question...Have you made financial mistakes in the past? Have some of your financial choices left you in bad shape? Have you experienced shame, sadness, and frustration because of the state of your current finances? Yes?! Well, so did Oprah, Will Smith, Suze Orman, and ME! Yes… me.

You may not be able to move toward being financially healthy, not because you don’t make enough money, not because you don’t have the resources, and not because your situation is unrepairable. The truth is, you have yet to get over your money missteps and are likely replaying the same unhelpful patterns that put you in your current situation.  Letting go of the past is critical if you want to move on to greener pastures (pun intended).

Financial forgiveness is one of the first keys to becoming financially healthy.

Did I ever share how I lost my job, squandered $20,000 on one BAD investment, gained $35,000 in credit card debt, lost my home and moved back in with my parents, all in a relatively short period of time? Yup!

It took me years to let go and forgive myself, but once I did, I was able to quickly put a plan in place, and successfully implement it faster than I thought possible!


The 5 steps to gaining financial health by, forgiving yourself and breaking unhealthy patterns are:

1)      Admit

2)      Identify

3)      Tell

4)      Focus

5)      Plan

1)  Admit to yourself & take ownership

Confess; say “I messed up when I __________”. Feel free to substitute the word “messed” with your verb of choice. I found that by admitting my mistake, I was able to take ownership of it. The good thing about owning up to a problem is that it officially becomes YOUR problem, and gives you the power to fix it. One of the reasons you haven’t been able to move forward is that you haven’t fully acknowledged your mistake, until now… Remember, you’ve messed up, I’ve messed up, we’ve all messed up, that’s all. Mistakes happen and admitting it to yourself is essential if you’re going to get over it.

You’re not the only one that’s made financial mistakes. This powerful video helps to illustrate that we are more alike than we think. Mistakes are universal…


2)  Identify the what & why (be very specific)

Take a break from beating yourself up for a minute and clearly identify what’s happening and why. We all have patterns that we live by. Example: Wake-up, yawn, stretch brush teeth. Some of these patterns are helpful, but some are not.

Sometimes we get so caught up in feeling guilty, that we’re not even clear what we’re feeling guilty about.  Start by figuring out what your money patterns are by writing down what you do when you have money. What actions do you take? What thoughts go through your mind? Are they helpful or harmful?

Need help identifying what’s really going on with your money and your related habits? Turbo is a product available free from Intuit, the makers of TurboTax, that shows where you truly stand financially. Turbo gives you the three numbers that matter most to your financial health (your verified income + credit score + debt-to-income ratio), along with personalized insights and advice.

You don’t have to be a TurboTax customer to use Turbo.

This step is the most IMPORTANT part in your road to financial forgiveness. Use Turbo to help identify where you are now so that you can begin to take a real step forward.

3)  Tell someone 

Okay, so this may be a tough one for some of you, but sharing your experiences with money helps you to see that you’re not alone. It took me a year to finally break down and tell one of my best friends how I’d lost $35,000 in less than 2 weeks. Do you know what my friend Linda said when I told her?

“Awwww, that’s ok Tiff! We all make mistakes.” She was so kind, and to my surprise, a bit nonchalant about the whole thing. I’d been carrying around my secret shame for a year, thinking that everyone would be horrified that “The Budgetnista”, had made such a catastrophic mistake (or at least that’s what I told myself).

There’s a proverb that says, “Fear makes the wolf bigger than he is”. Linda helped me to realize that although I’d made a mistake, it wasn’t the end of the world.

Not sure who to tell? Share with me! Fill in the tweet below.

@IntuitTurbo, my #RealMoneyTalk is… #Sweepstakes Click To Tweet 

(Plus, if you tag @IntuitTurbo and #Sweepstakes, you’ll be entered to win $5,000! Not too bad…)

Wooo Saaahhh! Now that you’ve admitted your mistake, identified it in writing, and told a friend, it’s time to prepare to release it. The next two steps will help you to completely move past your financial flub

4)  Focus on a solution

So the truth is out, and it’s time that you focus on what IS, versus what ISN’T. Refer back to what you wrote in Step 2 and write down some possible remedies to your mistake. Don’t make yourself crazy with this step; let the ideas flow without hesitation. Remember, you’re not solving the world’s hunger issue, you’re just quickly writing down possible solutions to your financial problem. FYI, don’t wait to do this exercise, start now.


5)  Plan, then work the plan

Once you’ve drafted your list of possible solutions, pick one and begin crafting a plan. Not sure how to start or what to do? Go back to Step 3. Use Turbo to better understand your financial health. Once you’re clear about your financial issues you can work out asking for specific solutions. Your financial health is in your hands. It requires you to take action, but you don’t have to do so alone. I’m here to support & help.

Question: Did you know that before my father was retired that he was an accountant? Yup! His financial wisdom was the domino that started my journey as, The Budgetnista.

When I was 21 years old, I graduated college and was no longer going to be claimed under the household taxes. Because he was an accountant, I asked if he would do mine... He said, no. Instead, he bought me TurboTax from Intuit and told me it was time I learned how to do it myself.

I was so nervous, but he promised to review it when I was done. I did my taxes and it was sooo easy. TurboTax was intuitive and Tiffany-proof. Lol!

I got so good at it, I started showing friends how to use it, then my coworkers.

Since then, Intuit has been a part of my financial life. Now that I’m a business owner, I use Intuit for payroll & bookkeeping.

I LOVE this new service they have created because your financial health is so much more than your credit score. With Turbo, now you’ll get personalized advice to get all you deserve.

Sign up for Turbo here: My TURBO.

Live richer,

p.s. What financial mistakes have you overcome? Share in the comments below.


My Lisa Rule: I have 4 sisters and Lisa is the baby (well she’s not a baby anymore). Of all of my sisters, I’m the most protective of her. Before I share any product or service with you, it must pass my Lisa Rule.

What’s the Lisa Rule? Lisa is a Dream Catcher and follows the advice I give here as well. If I would not advise Lisa to use a product or service, I won’t advise you to. YOU are my Lisa. I feel protective of you and your financial journey.

TURBO passes my Lisa Rule. Yes, I am a paid partner of TURBO's, but I would not recommend a product or service that I didn’t believe was helpful and useful.

This is a sponsored conversation written by me on behalf of Turbo. The opinions and text are all mine.

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Tiffany “The Budgetnista” Aliche is quickly becoming America's favorite, personal financial educator. The Budgetnista is also an Amazon #1 best selling author (The One Week Budget and Live Richer Challenge), sought-after speaker and teacher of financial empowerment.
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