Coin Chic: Giving Your Pocketbook A Much Needed Facelift

News & Views | Gerren Keith Gaynor | 08/20/2015 | 09:00 AM EDT

Centric guides you on how to live the fab life without the bad bank statements

What fabulous gal doesn’t enjoy the good life? Trips to foreign countries. Uber rides around the city. Champagne by the bottle.

Everyone wants to live lavishly, but unless you make lavish money it doesn’t quite work out like that when you have credit card bills, student loan payments and, depending where you reside, rent that is just too damn high. Soon enough you’ll find that your coins are low and your ability to live luxuriously nearly impossible.


But that doesn’t necessarily mean you can’t climb yourself out of that financial hole. With proper planning and discipline you can go from broke to banking. And we’re going to show you how.

Check out Centric’s guide to giving your pocketbook a much needed facelift.

‘The Budgetnista’ Reveals The Secret To Living Life Richer

Start A Chic Fund. 

What better way to have cash on hand for all your lavish needs than to go back to basics with a good ole piggy bank? Savings accounts are overrated and aren’t great visual aids when it comes to saving. Instead grab a stylish piggy bank of your choosing and fill it up with spare bills. If you really want to fill her up, make a commitment to put at least $20 dollars or more a week. In due time you’ll find that “rainy day” fund become a major cash cow for all your fabulous endeavors. 

Identify Your Financial Fact Sheet. 

One of the major reasons why most people fail to be in good financial shape is because they don’t accurately know how much they make vs. how much they spend. Take note of how much you bring in a month and subtract all of your monthly expenses. Based on how much you have left over, make a commitment to placing a majority of that in a savings account, preferably one that grows. 

Motivate Yourself With A Reward. 

Saving can be very hard. It’s simply not sexy. Unfortunately it’s something we have to do if we want to improve our finances and secure our future. One way to ensure you stick to your savings goal is to reward yourself with a small incentive every time you hit your target goal. Maybe it’s a once-a-month pair of new heels or weekly trip to the frozen yogurt shop. Whatever it is make sure it’s enough to keep you motivated and disciplined. Not only will you be treating yourself to something you love, but you’ll also see your savings soar. 

Invest Your Money. 

Investing your money is the best way to create a source of income without having to take on another job. When you invest properly your money makes itself for you. You can either do it yourself or hire an investment advisor. Take the time to do your research and figure out what works best for you.

Hire A Financial Advisor/Planner. 

Having the willpower to work within your budget isn’t as easy as it seems. For some it’s an uphill battle. Resisting the temptation of buying a new designer handbag or bling can be more challenging than expected. That’s where a financial planner comes into play. If you can afford it, consider hiring an advisor whose sole job is to manage your finances on your behalf. This person (who should hold a certification) will help you meet your short-term or long-term financial goals, and can serve as a great, strict gatekeeper between you and your bad financial decisions. Ultimately, of course, the goal is for the planner to help make or save more money. With their direction you’ll be able to get back to the fabulous life in no time...on a slight budget of course.


Remember there’s nothing wrong with a little splurge, just be sure not to overindulge. 

(Photo: moodboard/Corbis)

related stories

Secret Blame Game

Hillary Clinton Blames President Obama for Loss

#BlackHerstory

Kamala Harris Makes History, Elected To U.S. Senate

Driver At Large

New York Woman Raped By Man She Mistook For Lyft Driver

Un-Holy Move

Youth Pastor Forced Teenage Boys Into Prostitution

comments