Hot girl summer, invented by Queen Megan Thee Stallion, is nigh.
After a year of staying home (well, some of us did anyway), more than a year of living in a global pandemic, and a lot of fear, sadness, and social strain, people are ready to embrace their vaccinations and get back into the world full time.
If you follow us on Instagram you know I’m not here to shame you about increasing your spending once that vaccination is all up in your bloodstream, protecting you from Covid.
I don’t like to use the word deserve when it comes to money, but after 2020, I’m going to go ahead and say you DESERVE a hot girl summer, and if that means some increased spending than Godspeed my friend.
However, we also want to have an investing girl summer. A debt payoff girl summer.
Enjoying yourself after a traumatic year AND being financial smart are not two incompatible ideas. They can co exist together.
Here are your three money tips for a hot girl summer that won’t bankrupt you.
Create a post Covid budget
I know that the pandemic is still a very real thing. I want to encourage safety at all levels, so keep wearing your masks and being smart y’all. But in the US, about 50% of adults have gotten their first vaccination shot, restaurants and movie theaters are opening up, and “getting back to normal” is beginning to feel real.
That means that your Covid budget is not going to work anymore. Some areas that will likely change as we return to normal:
If you’ve been working at home for the pandemic, or out of work, your commute has been non existent. Going back to work, even if it’s only part time, is going to increase your gas budget.
Now is the time to expand your budget to include more spending. We’ve got a budget workbook that comes with 8 chapters to walk you through exactly how to create a budget that works with your life, AND two spreadsheets to get you started!
Get Clear on Your Money Goals
What are you trying to do the rest of the year with your money? Save for a house? Increase investments? Take your dream trip to Sedona?
Personalize and sketch out your money goals. You can use our free goal setting worksheet to help set specific and actionable goals.
With your money goals, the more specific the better. Specificity is what will help you determine a course of action, whether that be saving more, picking up a side hustle, or learning more about investing.
Assess Your Money Tool Kit
What kind of money tools do you have at your disposal, and which ones do you need to get your hands on?
Maybe you have a 401k through your workplace, but you still need to open an IRA.
Maybe you have crystal clear goals but you need help with your budgeting to actually reach them.
Lay out the tools and strengths you have and then highlight the areas you want to work on. From there, identify the tools you have in each area and the ones you still need.
This breakdown should make it crystal clear where your strengths and weaknesses are, which in turn will help you have the hot girl summer you deserve. You can’t move forward in your financial life unless you know where you’re trying to go.
What money tips do you have for a hot girl summer?
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