PODCAST EPISODES

Let’s talk about money. In this episode, I am excited to discuss practical tips for managing finances with Ericka Young, a recognized expert in financial coaching and the President and Founder of Tailor-Made Budgets. Ericka opened her company after she and her husband climbed their way out of nearly $100,000 of debt. Ericka specializes in budgeting, debt reduction, and savings forecast. She offers pragmatic advice for professional women and couples to get their finances in order. Ericka is also the author of the best-selling book, Naked and Unashamed: 10 Money Conversations Every Couple Must Have.

Topics Covered: 

• What to look for when seeking a financial coach
• Steps to creating a budget and helpful apps to do so
• Personal finance and prioritizing your finances
• Building an emergency fund and where to invest 
• Money things to consider before going back to graduate school
• Attacking repayment of student loan debt
• Improving your credit score
• When and how to approach tough money conversations with your partner

Highlights:

• “If you don’t know how much you spend on groceries in a 30-day period, you really need a reality check.”
• “You have to get really close to your money before you decide to put a plan in place.” 
• “Student debt is not different–in my opinion–than car debt, credit card debt, other than the interest rate is lower.”
• “If you don’t need the money, don’t take the loan.”
• On financial coaching for couples: “Take the cloak of shame and fear and resentment and break some of those down so that you have a solid foundation for building upon in the future.”

Resources: 

• Sign up for Ericka’s free video course at www.7daymoneychallenge.com  
• Track your spending with Mint and Quicken

Connect with Ericka: 

On her website: https://www.tailormadebudgets.com/ 

On her LinkedIn: https://www.linkedin.com/in/erickayoung/ 

On Twitter: @budgetsbyericka 

On Instagram: @tailormadebudgets 

Other References: 

• Essence, Study Finds that Black Women Graduate with the Most Student Loan Debt
• American Association of University Women, Deeper in Debt: Women and Student Loans

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