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My answer is pretty simple, she said while speaking withHello Sunshine.
All you have to do is STRIIP.
STRIIP is an acronym and an easy-to-follow step by step on how to be really smart with your money.
Here are the steps Tu said everyone whowants to get rich and stay rich should take.
Save
Tus first step is to build up your emergency savings fund.
Without an emergency fund, bad things can happen.
Otherwise, it could put you in an even worse financial situation.
Tu also emphasized the importance of keeping this money in a high-yield versus atraditional savings account.
Strategically Pay Down Your Debt
The T in Tus STRIIP method stands for total debt.
We have to think about debt as a holistic picture, she said.
Plan For Retirement
The R in STRIIP stands for retirement.
These are really great ways to not only save on taxes, but invest for the future.
That cash is not going to grow.
You actually have to buy stuff and by stuff, I mean investments.
Another option is to choose a brokerage that has a robo-advisor.
Its super easy, and that way you get to be a lazy investor.
Prioritize Increasing Your Income
The second I in STRIIP stands for income.
When you make more money, you’re able to make discretionary expenditures without feeling the guilt.
Ask for a 10% to 15% raise every single year.
Am I saying youre going to get it?
For some folks, the happily ever after means retiring at 30 and living in an Airstream.
Dont consider other peoples success your downfall, Tu said.
I think a lot of the … taboos around money stem from that feeling of not being good enough.
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