Being Broke is NEVER in Style

This is a story about two women. The first woman has 3 Louis Vuitton purses. She wears $300 jeans and drives two cars. She always has the latest accessories and takes extravagant shopping trips.



She’s also $40,000 in debt. 



The second woman gets her shoes resoled instead of buying new ones. She takes transit instead of cabs and drives a 16-year old car.



Though you might never know it, this girl is worth a few million dollars. 



These two women? 



I’ve been both of them. 



When I was a student, I thought being rich was about looking rich. I was like Carrie Bradshaw and had my money where I liked to see it - hanging in my closet. It wasn’t until I graduated with too much debt to justify that I realized, no matter how rich and stylish I looked, I was broke. 



Since hitting my financial rock bottom, I transformed my financial situation. Here are some tips to get empowered so your bank account is as rich as your dreams.



1) Set financial intentions. Why do you want to be rich? For me, I want freedom: freedom to travel, do work I enjoy, and spend time with people I love. I also want to donate money, and support causes/companies that make the world a better place.


2) Figure out what you’re currently earning and spending - and what the difference is. You can do it ol’ school with pen + paper or an Excel spreadsheet. Personally, I use the apps Mint or You Need A Budget (YNAB) as they look at the last few months of spending and tell you where your money is going. 


3) Get some financial knowledge. Read a few books. Listen to some podcasts. I recommend “Millionaire Teacher” by Andrew Hallam because it proves you don’t need a high income to become a millionaire. Robert Kyosaki’s “Rich Dad, Poor Dad” is brilliant for transforming your perspective on wealth.


4) Make a plan to reach your financial goals. Automate savings. Start a side hustle. Invest your money wisely (I’m a fan of ETFs). If you don’t want to do this on your own, look for a fee-only investment planner. You pay them up front and they’ll give you the best-unbiased investment advice for your situation.


5) Decide where you spend your happiest money. Don’t give up that $4 latte if it makes you ecstatic and start cleaning your house because you don’t mind. Look at your past purchases and keep the ones brought you joy. The ones you hardly remember spending or didn’t LOVE? Cut them.


6) Work your money mindset. Money is an emotionally charged subject and many of us (myself included!) have “stories” about money. Pay attention to how you think about money and listen to how you talk about money. Get Jen Sincero’s “You Are A Badass At Making Money” and don’t just read it - do the work and your wallet will thank you. 



When I stopped worrying about looking rich, I started focusing on becoming rich. I started saving, watched where my money went and spent on things that truly made me happy. You can do the same. Because a fat bank account and confidence from being truly wealthy? That never goes out of style. 


*Originally published in Fall 2018 edition of I Like Her Style Vancouver, available here: (page 42-43 -…/…/ilhsv_fall_fashion_web) OR grab the latest issue at one of the racks (rack locations here: ⠀