In this episode of the Efficiency Bitch Podcast, host Melissa Leon interviews Melissa Mitt, a financial coach who helps women manage their money. They discuss Melissa Mitt's journey to becoming a financial coach after struggling with student loan and credit card debt in her 20s. She realized she needed to learn how to manage her finances after accepting her dream job but still struggling to make ends meet and stresses the importance of financial education, which many people lack growing up. She shares tips for people feeling overwhelmed with money, like journaling to identify sources of anxiety and thanking money when it comes in and goes out. Melissa Mitt explains common budget pitfalls like forgetting to account for irregular expenses and living off credit card float. She advises saving up for predictable expenses in sinking funds and trying spending only with debit for a month. Melissa Leon strongly cautions against credit card debt and interest. They discuss the concept of "pay yourself first" - putting savings away before spending on wants. Melissa Mitt explains this flips the mindset from saving leftovers to prioritizing savings. They stress the importance of providing for your future self.

Key Takeaways

Journal about finances to identify sources of anxiety.

Thank money when it enters and leaves to change mindset.

Save for irregular expenses in sinking funds.

Try spending only with debit to understand true expenses.

Credit card interest can lead to decades of debt.

Pay yourself first by saving before spending.

Provide for your future self now.

Focus on learning one money skill at a time.

Money management is a lifelong process, but we can make it less stressful by starting with small steps focused on areas we want to improve.

Connect with Melissa: https://melissamitt.myflodesk.com/organized/

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