Adriana Talks Dinero

New Episode dropped on Monday! Episode 17: Smart Money Moves for 2025.

As the new year approaches so many people are looking to get their money right for 2025! This week we go over 5 smart money moves for 2025:

• Create your prosperity plan
• Build your emergency fund
• Tackle high-interest debt
• Invest in your future
• Protect your progress

Listen to where ever you listen to podcasts and make sure to subscribe to never miss an episode!

It’s the season of finding your boo and something many don’t talk about is red flags in a relationship when it comes to money. Here are a few to watch out for:

🚩 Making large financial decisions without you: there should always be conversations before making a large purchase. I have seen many relationships start to crack when something like this happens. This can have some bad consequences and have loss of trust.
🚩 Lying or hiding spending: there should be honest conversations when it comes to spending. This can also lead to gambling, overspending and making the wrong decisions without money.
🚩Avoiding financial discussions and not being honest with where money is going: if you bring up the topic of money and they go running, don’t chase them. There should be honest and transparent conversations around money. They should also have an answer about where the money has gone. If they don’t, it can lead to problems and trouble down the road.
🚩Controlling all of the money: if they don’t let you have any say or let you touch any money that is not a good sign. It should be a partnership with money and spending.
🚩Not having financial goals: if they don’t have goals to increase their income or assets, getting out of debt or make a plan for retirement then they aren’t going to look at the big picture with finances. Goals also come with a plan, it’s not just good enough to have your partner say “I want to be a millionaire” and expect that a lottery ticket will get them there.

What are some money red flags you have seen in a relationship?

Spending habits is so important! It also requires practice and patience as you are learning new habits. Here are some habits to reduce your spending:

▫️Save in advance - sinking funds are a great option: a sinking fund is a great way to put away money for future spending. You out away an allotted amount every week or pay period for a large purchase.
▫️Always shop with a list: when you go to the store with an “idea” on what you have to buy, you are setting yourself up for a higher chance to over spend. Make sure you know what you exactly need before stepping foot into the store.
▫️Wait 24 hours before making an impulse buy: the marketing team to retail stores know what they are doing. They want you to spend all the money possible. Best practice is to put it in your cart and come back 24 hours later to see if you still have that same feeling.
▫️Live with a budget: Budgets are the key to financial success. Think of it as a map showing where your money needs to go to be productive.
▫️Know your emotions and feelings when shopping: many people would fall under the shopaholic category, many times people shop to cover or fill a void. It is important to understand what is triggering you to shop excessively.
▫️Save and invest first - spend later: I have several direct deposits set up and I always pay myself first. This helps me avoid overspending and I also know that I am successfully saving for my future.

Remember, it is a learning and growing journey. Don’t beat yourself up if you can’t master all of the habits mentioned, but we all start somewhere.

What do you do to reduce your spending?

🚨 Don't let your hard-earned benefits go to waste! 💸

Year-end reminder: Time to check those FSA balances! 📅

Did you know? Many FSA funds expire on December 31st. Here's your friendly reminder to use them before you lose them!

Quick ideas to use your FSA:
✅ Stock up on contact lenses
✅ Schedule that dentist appointment
✅ Get a new pair of prescription glasses
✅ Buy eligible over-the-counter meds

Pro tip: Most benefit providers have apps where you can easily check your balance! 📱

Don't forget to review your other benefits too - many reset with the new year! Make the most of what you've earned. 💪

📣 Calling all Beauty Professionals!

Monday, September 30th at 6pm I will be hosting an Investing 101 workshop for Beauty Professionals at Monarca Salon Space!

Make sure to get your ticket on Eventbrite!

You will learn:
-Basics of investing
-How you can invest personally and with your business
-How to select an investment
-Understanding stock, bonds and index funds
-Tax efficient strategies for beauty entrepreneurs
-What investing accounts are available for you and your family

https://www.eventbrite.com/e/for-beauty-industry-professionals-investing-101-tickets-966467308737?aff=ebdssbdestsearch