Money Mindset

  • Money Mindset

    High Earner, Not Yet Rich? Here’s Why- And What to Do About It

    Disclosure: This post may contain affiliate links. If you purchase through my link I may earn a small commission at no extra cost to you.

    If you’ve ever Googled ‘high earner not yet rich’ at midnight wondering what you’re missing, this post is for you.

    Let me guess what brings you to this post- you are a corporate earner with a good or even great salary. You have had professional success- job offers, promotions, etc. 

    Everything on paper looks great but your bank account tells a different story. No matter what you do, you can’t seem to get ahead.

    You’ve done everything right and somehow still feel behind.

    This isn’t a budgeting post, it’s a clarity post. We’re going to dive into what’s actually going on that leads you to feel behind and what to do about it.

    Before we jump into the good stuff, please know that I’ve been in your shoes. I am slowly climbing out of the same hole and sharing my journey along the way.

    I’ve been a six figure earner for over 3 years and still managed to amass over $35k in credit card debt. Nobody in my life knew.

    From the outside, it seemed like I was responsible and had it all together. Sound familiar?

    It’s Not a Discipline Problem

    When you earn good money and still struggle, the most common assumption is something must be wrong with you. I can tell you I’ve frequented the “what’s wrong with me” inner dialogue. 

    The reality is that feeling behind financially while earning a good income is a structural problem, not a personal one.

    High earners stay stuck for various reasons:

    1. Lifestyle inflation (“lifestyle creep”) keeps pace with income increases. In this situation, every raise gets absorbed into spending.
    2. Nobody taught us how money should actually move. We learned by watching and most of what we watched was broken.
    3. The financial system wasn’t designed with women in mind. Financial literacy has historically been a male domain.

    I can speak from personal experience around the impacts of lifestyle creep. Most notably, when I increased my salary by 30% by pivoting into project management, it’s as if the money just evaporated. Poof!

    Earning more and watching it slip through your fingers, only to be right back where you started, can feel like being on a hamster wheel. Maybe you can relate.

    What I have learned, and what I’d like you to know, is that the problem was never your discipline. The problem was the system- and nobody handed you the manual.

    The High Earner Trap

    Lifestyle inflation is the sneakiest way that increases in income fall flat. It’s easy to use a larger paycheck as justification to “treat” yourself, to upgrade your vehicle, or splurge on a vacation.

    Now don’t get me wrong- I 100% support celebrating your wins and financial milestones. The difference is this kind of celebration is planned and a one-time expense. 

    Lifestyle inflation is different because it is a sustained expense, over time. It can feel like progress to upgrade your routine or lifestyle. 

    If not carefully planned for, this kind of expense actually negates progress. 

    Using your raise to rent a slightly nicer apartment or to eat out more frequently can absorb every dollar of income growth if you’re not careful.

    The result is income goes up, net worth stays flat, and the paycheck to paycheck feeling persists even at $100k+ salary.

    The KIA That Cost Me

    I’ll share a very specific example of how lifestyle creep invaded my life. In 2024, I was on the cusp of paying off my 2019 KIA Sorento when it started making a weird sound.

    I took it into the dealership and somehow got talked into trading in the equity I had for a lease on a new model. Like what?

    I traded in an almost paid off vehicle for a $428/mo lease payment. I am still paying on this lease and rest assured, I fully plan to turn in the lease and buy a used vehicle outright.

    Looking back, I can see clearly what happened- I let the emotions of having a vehicle needing a repair weigh on me to the point of giving up an asset.

    I traded equity for convenience.

    Once I was out of my dealership- induced haze (it took a few weeks), I could see that I had made an irrational decision.

    I have kicked myself many times over this decision but the bottom line is this- making decisions that lead to financial setbacks is not a debt problem, it’s a pattern.

    What’s Actually Keeping You Stuck

    Let’s name three specific culprits that contribute to the pattern of backwards progress: 

    1. You may not have a system for how money moves. This likely looks like spending money first and saving whatever is left after.
    2. Emotional spending as stress relief could be part of the puzzle. High earning often comes with high stress and spending feels like a reward.
    3. Avoiding the numbers. When things feel out of control, looking feels worse than not looking.

    In my case, I did not have an issue with avoiding my numbers. I knew all too well what was going on with my finances.

    My experience was not having a good money system combined with the occasional emotional expenditure.

    For the most part, my emotional purchases were small/inconsequential but then I would go and you know, lease a vehicle on a whim.

    I still occasionally struggle with the lure of impulsive, large, unplanned purchases. The difference now is that I see the temptation for what it is and lean on the money system I have set up.

    An important reframe I have made for myself time and time again is that none of these behaviors are character flaws. 

    They are completely predictable responses to a stressful life with no financial framework.

    What to Actually Do About It

    So how do you get out of this cycle? Let’s talk about it. Here are three shifts that will change your experience with money tremendously.

    Shift 1: Get a system- money needs to move automatically before you have a chance to spend it. Check out my 3-account money system if you want to set up something that is simple and will have an impact right away.

    Shift 2: Know your number- what number will enable you to be financially free? Or in other words, how much money do you need invested to become work optional? 

    A simple starting point is to multiply your annual expenses by 25. That’s the invested amount that could theoretically support your lifestyle indefinitely. Most high earners never calculate this. 

    Shift 3: Stop optimizing spending and start optimizing income. There’s a ceiling on how much you can cut, there’s no ceiling on how much you can earn. 

    My Breaking Point

    Last October, I decided I’d had enough with my credit card debt and minimal emergency fund. As a single mom of two teens, this was a risk and I knew it.

    So I created a plan to pay off my credit card debt, reducing $35k to less than $20k in 9 months.

    I set up a money system to ensure that money is deposited into my emergency fund on pay day- I never even see that money so I’m not tempted to spend it. Read more about how to build an emergency fund.

    I made a decision to create a better pattern for my money.

    Conclusion

    Being a high earner who isn’t yet rich isn’t a failure, it’s a starting point.

    The gap between where you are and where you want to be is closeable, and it closes with systems and clarity, not shame and restriction.

    The good news is that with an already high income and the right system, you will make progress FAST. You are in a much better position than you may realize.

    Ready to transform your money routine? Grab the free 3-account setup guide- it’s the system I use to make sure my money moves in the right direction automatically, every single payday.

    3-account system cheatsheet

    I’ll send you a simple guide that will outline exactly how to setup the 3-account system.
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    • Money Mindset

      How to Stop Living Paycheck to Paycheck: Try This 3-Account System Instead

      This post contains affiliate links. If you purchase through my link I may earn a small commission at no extra cost to you.

      If you’ve been searching for how to stop living paycheck to paycheck, this isn’t a budgeting post. It’s better than that!

      I can’t tell you how many times I’ve started a new budget, only to have life happen and be back at square one the next month or even the next week.

      Here’s the deal- budgeting is a willpower system, and willpower will only get you so far. Money management, just like other goals, will fall to the success of your systems (or lack thereof). 

      I often ask myself this question- what could I maintain on my worst day? This applies to so many areas of life in addition to money- fitness, parenting, relationships, etc.

      My experience managing money completely changed once I adopted the 3-account system. It’s simple, automatic, and relies on zero tracking to be successful.

      Easy button? Yes please.

      Why Budgeting Fails Most Women

      Most women searching for a way out of the paycheck to paycheck cycle assume budgeting harder is the solution. 

      Now don’t get me wrong, a budget can serve a purpose. Understanding where your money is going is important and could be a one time or regular exercise that is meaningful for you.

      I personally do have a budget, with a specific purpose in mind, but it’s not the system that moves the needle on my finances.

      Budgeting as a recurring activity assumes you have time, energy, and mental bandwidth to track every dollar.

      As single moms, corporate women, caregivers- we are already running on empty. Budgeting systems require daily decisions and let’s be real- decision fatigue is real.

      If you were to peep my personal google drive right now (buried in an ‘Archive’ folder somewhere), you would find all of the budgets of past Jessica. A collection of artifacts representing abandoned decisions, optimistic intentions, and aspirational over-rotation.

      What I’ve learned and what I’d like to pass on to you is this- the problem was never your discipline. The problem was the system.

      How the 3-Account System Works

      Without further ado, allow me to walk you through the system that has simplified my finances.

      The way it works is just like it sounds- three accounts, one rule, money moves automatically into the accounts. That’s it. 

      If you’re anything like me, you have questions so let’s dive into each account individually…

      Account 1 — Bills (fixed expenses)

      The first account is for any bills that do not change month over month such as your mortgage/rent, utilities, subscriptions, etc. Account 1 should be a checking account.

      Add up all of your fixed expenses for the month and this is how much money (at a minimum) needs to be deposited into this account each month to cover your bills. Account 1 should have a fixed deposit amount.

      Now, I had a lot of internal drama when defining what I would categorize as a fixed expense.

      Depending on what corner of financial advice you find yourself in, you may see variable expenses categorized as a fixed expense. Example- groceries.

      Is it not true that food is a ‘fixed expense’ because you need it to survive??

      So the simple use for this account is only bills that are truly the same month over month. For me, this currently includes:

      • Rent
      • Utilities
      • Debt minimum payments
      • Car payment
      • Insurance
      • Subscriptions

      Account 2 — Your Future (savings/financial goals)

      The second account in this system is for money you are allocating towards financial goals. Account 2 will be a high-yield savings account (HYSA).

      Priorities will vary here but may include: saving for an emergency fund, debt payoff, post tax investing, saving for a vacation, etc.

      The reason I have this listed as account 2 (and skipped right over variable expenses) is because you have to prioritize this before spending if you want to make progress on your financial goals.

      For a long time, YEARS really, I would pay my bills, spend without a plan on variable expenses and then use whatever was left for financial goals. This was totally backwards.

      In order to start actually seeing movement on my financial goals I had to start allocating money to my goals first.

      This seems like common sense but for a lot of reasons, that I can get into in a different post, it was not. 

      So how much do you decide to allocate towards this account? If you look at your financial goals, you may see a giant amount and try to make that happen.

      The key to making this work on auto pilot is to choose a percentage of your take home pay. Choosing a percentage takes the guesswork and decision making out of this process.

      You will find varying percentage recommendations in the personal finance world. As I am not a financial planner, I will not make a recommendation to you of what yours should be.

      I will, however, share that 17% of my current take home pay is allocated to financial goals. My top financial goals right now are:

      1. Increase my emergency fund to 3 months (I’m so close to achieving this!)
      2. Pay off my consumer credit card debt

      I would love to increase the amount of money I am allocating towards financial goals and plan to do so as I pay off debt/earn more.

      Account 3 — Spending (variable expenses)

      The third account is for any variable expenses that change month over month.

      For me this includes necessities like groceries and gas. It also includes any miscellaneous spending such as eating out, going to the movies, or this month- sending my teenager kids random amounts of apple cash.

      Account 3 is a second checking account. The amount deposited in here is what’s leftover after the deposit/transfer to accounts 1 and 2.

      Having an account with spending money has been so freeing to me. There isn’t always a ton of money in here but I have zero guilt when I spend from this account.

      I know I am meant to spend this money before my next pay day. 

      How to Set It Up This Week

      Now, if you’re anything like me, it might take some time to wrap your mind around this simple system. Once you’re ready, it’s very simple to set up:

      1. List your fixed expenses and total them up
      2. Decide your “future” percentage (see further instructions below)
      3. Open a second checking account and a high-yield savings account 
      4. Set up automatic transfers on payday
        • You can either set this up from the account your paycheck is deposited OR you can set up direct deposits to each account directly with your employer (this is how my paycheck is set up)
      5. Whatever lands in account 3 is yours to spend, guilt free!

      Additional instructions- percentage for financial goals

      To determine the percentage to dedicate to your financial goals, first estimate the percentage of your take home pay going towards fixed expenses. 

      Then you know what percentage of your take home pay is available to split between financial goals and variable expenses.

      Once you have determined the percentage you are targeting, calculate the dollar value the percentage represents.

      Example:

      • Let’s say your monthly take home pay is $5,000 after taxes and your fixed expenses are $3,000
      • Your fixed expenses are 60% of your take home pay ($3,000/$5,000= 0.6)
      • This means you have 40% of your take home pay to split between financial goals and variable spending
      • You choose to allocate 10% of your take home pay towards financial goals ($5,000*.1= $500)
      • The fixed amount you will transfer to a HYSA is $500

      The one rule for this system is that the deposits/transfers to each account happen automatically each time you get paid. 

      This system works because you don’t have to think about it- the automations work for you and match decisions you already made.

      3-account system cheatsheet

      I’ll send you a simple guide that will outline exactly how to setup the 3-account system.
      ​
      Get the cheatsheet by subscribing below.

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        How This System Helped Me Stop Living Paycheck to Paycheck

        I’ve been using the 3-account system consistently for almost a year now. Prior to that, I had several different checking and savings accounts that required a lot of manual moving around of money.

        I often forgot to move money or forgot why I moved money. 

        On top of the chaos, I wasn’t really making progress on my goals. I had an emergency fund but it was not enough to cover even half a month’s worth of expenses. 

        I spent first, before directing money towards financial goals. It didn’t matter how much money I made, I was just on a hamster wheel.

        Since implementing the 3-account system last fall, I am less than 3 months away from having a fully funded 3 month emergency fund. I’ve paid my credit card debt down from ~$35k to just under ~$21k and am on target to pay it off next year, for good.

        I’ve done all of this while continuing to invest in my retirement and while enjoying my life. The best part of all of this is- I know this is just the beginning for me. You can read more about where I’m starting from here: Why I’m Starting a Blog. 

        Conclusion

        The paycheck to paycheck cycle doesn’t break with more willpower. It breaks with a better system.

        Budgeting requires willpower, while systems run automatically. It might take you some time to set up this system but I promise, it will simplify your life.

        If you take just one action from this post, I would encourage you to set up a HYSA and start diverting money towards your financial goals. Check out Ally bank as a good option.

        P.s. The other half of this equation is to earn more money- here’s where I’d start: How to Make More Money in Your Day Job.

      • Money Mindset

        How to Build an Emergency Fund in 12 Months (On Any Salary)

        This post contains affiliate links. If you purchase through my link I may earn a small commission at no extra cost to you.

        We’ve all heard some variation of the fact that most Americans are one large expense away from going into debt.

        The reasons people don’t have an emergency fund can vary. For some, the number feels too big and other things feel more important.

        For high earners with steady paychecks and investment accounts, an emergency fund can feel insignificant. After all, I could just pull the money from somewhere if I really needed it, right?

        The bottom line is this- having money designated and accessible for emergencies will prevent you from going into debt, borrowing money from another account, or doing some other kind of financial kung fu you might regret down the road.

        This post breaks down a 12-month plan anyone can follow to create an emergency fund, at any income level.

        If you’ve been putting off building an emergency fund because you don’t know where to start, this is the post for you.

        I’m currently building my own emergency fund- my target is $15,000 and I’m sharing exactly how I’m getting there.

        Why an Emergency Fund is Non-Negotiable

        An emergency fund has become non-negotiable for me. Without money set aside for unexpected expenses, an emergency becomes debt (or sabotages another goal if you pull the money from somewhere else).

        As a single mom and the financial safety net for my two teens, the thought of not having a plan in the event of an emergency terrified me. 

        At the beginning of 2025, my emergency fund had $1,300 in it. While this is better than nothing, I really sat with the following questions and determined it was not enough.

        • What would I do in the event of an emergency? How would I cover an unexpected expense? How would I pay for it and where would the money come from?
        • How would I handle losing my job? How long would I be able to support our family?

        My answer to that last question was not even one month. That reality sinking in gave me a lot of anxiety. I really was one large bill away from a crisis.

        On top of that, I could see how not having an emergency fund had led to maintaining/increasing my credit card debt. 

        I knew I had to change something. I wanted to have a clear plan in the event of an unexpected expense.

        How Much Do You Actually Need

        The standard recommendation is to have 3-6 months of essential expenses set aside for emergencies. Depending on who you talk or listen to, this recommendation may vary. 

        For example, some people have a primary residence and a rental property. They may choose to keep additional funds set aside for unexpected home repairs, property maintenance, etc.

        For the sake of simplicity, we are going to assume the standard advice of 3-6 months is a good starting point for you.

        You might be wondering how to calculate your target emergency fund. Here are the steps to calculate the number for your specific situation:

        1. Add up your essential monthly expenses
          • Include things you must pay like rent, utilities, minimum debt payments, groceries, etc.
          • Leave out unnecessary expenses from this equation- example: monthly budget to visit ice cream shop (hey, this could be important to someone)
          • The assumption is that in the event of an emergency, unnecessary expenses would be temporarily paused until finances are stable again
        2. Multiply the total by 3 for a starter fund or by 6 for a full security fund. There’s your number!

        For most people, around $10,000 will be a reasonable target. This number may vary depending on your unique circumstances.

        My fixed expenses are around $5,000 per month right now. This is due to renting in a higher cost of living area (where my kids go to public schools) and due to minimum debt payments.

        One thing that has helped me build up my emergency fund, even while paying off debt, is to remember that I don’t need to magically make it appear at once. 

        The 12-Month Plan

        Once you have determined your target, the next step is to map out how you will fund it.

        Breaking your goal down into steps will make it feel more achievable. Let’s be honest, setting aside money will require that you do something different.

        Behavior change can take time and may vary over time. The steps below outline setting aside a $10k month emergency fund but can be applied to any amount of money. 

        Months 1–3: Build Your Base ($0 → $1,000)

        The first thing you will do is open a dedicated high-yield savings account (HYSA) to keep your emergency fund separate from your checking account.

        The next step is to automate a small transfer of money every payday. Even $50 a paycheck adds up. When I first started building my emergency fund, this is the amount I contributed.

        While it was small, it signaled “progress” to my brain and slowly became a habit.

        The first milestone of establishing an emergency fund is getting to $1,000 as fast as possible. 

        Quick wins make a real difference here- canceling a subscription and redirecting the funds, selling something on Facebook marketplace, etc.

        Get creative!

        Months 4–6: Build Momentum ($1,000 → $4,000)

        Once you have $1,000 set aside, it’s time to step up your effort. 

        If you can increase your automatic transfer, this is a good time to do so. 

        I have my automatic transfer set up with my employer direct deposit- $300 automatically deposits into my emergency fund each paycheck. 

        Not having to manually make this transfer has been key for me. The money comes out of my pay before I even see it.

        Another way to ramp up your contributions is to put any “windfalls” of money to your emergency fund. For example- a tax return, bonus, etc.

        Pro tip- use a percentage of any windfall on something just for you. Enjoying money while pursuing financial stability has helped train my brain that stability can be safe and fun.

        Don’t forget to celebrate milestones on the way to your goal- $2,000, $3,000 funded. 

        Months 7–9: Push Through the Middle ($4,000 → $7,000)

        The middle of any goal is where most people stall. The urgency from month one has faded. 

        If you’ve developed a habit of saving, it might feel kind of boring. This is good!

        Keep the automation running even when it feels slow. 

        Now is a good time to revisit your target number- has anything changed in your expenses that would change your goal?

        One thing to remember is this- once you reach your target goal, you can redirect the money you are saving to something else. 

        Months 10–12: Cross the Finish Line ($7,000 → $10,000)

        The process gets easier towards the end. You’re close enough to see the finish line! Use this momentum as fuel.

        Consider a one-month push to close out strong. This could include no eating out, taking on a freelance project, or doing a no spend challenge.

        Last but not least, make sure you celebrate hitting your goal once you hit it. This is a big deal!

        Where to Keep It

        The best place to keep money you do not plan to use but may need to access quickly is in a high-yield savings account (HYSA). 

        This money should not be in your checking account where you might be tempted to spend it or part of your long-term investments.

        I have had success with keeping my HYSA at a completely separate bank. I personally use Ally bank where I earn 3.0% interest and would recommend it to anyone!

        I love that Ally allows you to create “buckets” within a savings account. My emergency fund is one bucket but I have others, which allows me to keep all of my savings in one account.

        Read more about the simple way I have my financial accounts set up.

        Some things to look for in a HYSA include: being FDIC insured, accounts with no monthly minimum fees, options to easily transfer to other bank accounts.

        What to Do When You Have to Use It

        An emergency fund is meant to be used- that’s the whole point and why you need to have access to it.

        When you dip into your emergency fund, your only job is to refill it.

        Using the money for what it’s intended for is not a failure, it’s the system working perfectly. 

        Once you have stabilized your finances, restart your automatic transfers immediately. 

        I admittedly do not have the best track record with using an emergency fund as intended.

        For the entirety of my 11-year marriage, I did not have an emergency fund but rather relied on my ex-husband’s business income. That somehow worked for us but it was by no means an organized plan that I will be repeating.

        I had a sizable emergency fund established post divorce, leading into 2022. Unfortunately, $30k in unplanned legal fees, combined with lifestyle creep drained this fund.

        At the time, I didn’t realize the significance of the fund being drained while I was making lifestyle changes. Looking back, I would have made some different decisions but I can say that I learned from the decisions I did make.

        Fast forward 3 years- I can see how important it is to prioritize having an emergency fund available. It offers peace of mind, continuity, and options during instability.

        Conclusion

        I hope this post has helped you see that saving $10,000 in 12 months is achievable on any salary if you automate the savings and stop waiting for the “right time”.

        I encourage you to open a HYSA today- not next week, today. 

        Breaking the paycheck to paycheck cycle starts here- learning how to build an emergency fund is one of the most important financial moves you can make.

        Want to see exactly how I set up my accounts to make this automatic? Grab the free 3-account setup guide below.

        3-account system cheatsheet

        I’ll send you a simple guide that will outline exactly how to setup the 3-account system.
        ​
        Get the cheatsheet by subscribing below.

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        • Money Mindset

          The Best Books on Financial Literacy for Beginners

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          The best books on financial literacy for beginners

          Disclosure: This post contains affiliate links. If you purchase through my links I may earn a small commission at no extra cost to you.

          As I reflect on my financial journey, there are clear moments where everything shifted — not because I found a magic formula or stumbled into a windfall, but because I changed the way I thought about money. And the most affordable way I did that? Books.

          If you’re a woman who earns a good salary and still feels behind, I want you to know something important: the problem usually isn’t how much you make. It’s the money story running in the background that nobody ever helped you rewrite. Books are one of the most powerful and least expensive ways to start doing that.

          I’ve read a lot of personal finance books over the past several years — during my divorce, during the rebuild, and during the season I’m in now, actively paying off debt and building wealth on a single income. The books on this list are the ones that actually moved the needle for me. I’m sharing them in hopes they do the same for you.

          What is Financial Literacy?

          First of all, let’s make sure we are speaking the same language. Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing. Now you may be asking yourself- what does this have to do with earning more? Valid question. 

          Why Financial Literacy is Important

          In my quest for financial stability, I became hyper-focused on how much money I was earning. While I will argue (to my grave) that this was the best focus for me as a single mom, I learned that earning more alone does not ensure financial success or stability. There are plenty of high earners drowning in debt or making poor financial decisions. 

          Bottom line- financial literacy is essential to navigate your new financial reality. Earning more is one thing, but knowing what to do with more money is a whole other skill. Let’s dive in…

          Short Plug for Learning with Books

          Books are one of my favorite ways to learn. They are inexpensive, accessible, and the information is condensed into an easily-digestible format, that you can come back to again and again. One thought I have around books is that I am paying $10-$30 to have access to the mind of someone who has spent a lot of time (and maybe money) to learn what they are writing about. How cool is that?

          What Makes a Financial Book Good for Beginners?

          You might note that the list of books below does not fall in line with many classic financial resources. I have probably read many of the books you are thinking about.

          The list of financial literacy books below were exceptionally helpful to me on my financial journey (as a beginner). I read them all at different times and they helped me to:

          • Change the way I think about money
          • Develop a budgeting routine that is enjoyable to me
          • Set financial goals around my values
          • Recover my finances as a single mom

          All of the books listed below are written for beginners and contain actionable tips/strategies to radically transform your financial journey.

          If you’re anything like me, you might be quick to click ‘add to cart’ on every single item. I will challenge you with this- start with ONE book that is meeting you where you are at today. 

          I read the below books (and many, many others) over the course of the past 6 years. Changing your financial picture is a marathon, not a sprint.

          You do not need to learn everything there is to learn about financial literacy today.

          You might have a different takeaway than me. You might re-read one of these books and have a different takeaway the second time. The beauty in learning is that it never stops!

          Best Books on Financial Literacy for Beginners

          Without further ado, here are my top picks for books on financial literacy for beginners…

          The Psychology of Money by Morgan Housel

          Focus: Making sense of how people think about and behave with money

          Why it’s great for beginners: Easy-to-read thought-provoking ideas around what money means to people

          Jess thoughts: There is a lot of interesting history in this book- for example, how financing came to exist. I found this book extremely insightful to put my money behaviors into perspective.

          I Will Teach you to be Rich by Ramit Sethi

          Focus: Building wealth through systems (budgeting, saving, spending, and investing)

          Why it’s great for beginners: Written in a conversational style with action items throughout and designed to help the reader gain control of their finances

          Jess thoughts: Ramit has a wealth of knowledge about financial decision making and there were ideas in this book that I had never thought of (like automating my paycheck- what?) This book is modern and contains information on just about everything.

          Dave Ramsey’s Complete Guide to Money

          Focus: Handbook for Financial Peace University

          Why it’s great for beginners: Direct/minimal steps (in linear order) to get out of debt and achieve financial peace

          Jess thoughts: I admittingly have graduated beyond Dave Ramsey’s teachings but I do remember how powerful it was to read this book in the peak of my divorce. If you’re looking for a simple and solid plan to achieve financial stability, the steps in this book will work.

          Money, A Love Story by Kate Northrup

          Focus: Changing your relationship with money

          Why it’s great for beginners: Written using personal examples and covers the emotions tied to relationships with money

          Jess thoughts: Reading this book was one of the first times I became aware of my relationship with money. Kate’s writing spoke to the feminine part of me that wanted to feel good about my money relationship.

          Quit Like a Millionaire by Kristy Shen and Bryce Leung

          Focus: A proven formula to achieve financial independence for the average person

          Why it’s great for beginners: The most thorough and simple to understand explanation of the FIRE (financial independence retire early) movement 

          Jess thoughts: This is one book that I will say might not be for total financial literacy beginners however, in the FIRE world this book is very easy to understand. I will also say that I wish I would have found this book sooner!

          Best Books on Financial Literacy for Single Moms

          When I was struggling financially as a newly separated mom going through a divorce, I felt like a fish out of water. I latched onto anything and anyone that felt relatable. Below are two books that speak to the financial journey of a single mom.

          The Kickass Single Mom by Emma Johnson

          Focus: Taking your life back as a single mom

          Why it’s great for beginners: Speaks to the nuances of navigating finances in single motherhood that may be skipped or glossed over in other resources

          Jess thoughts: This book was a godsend to me in a very dark time in my life. Emma challenged me to get myself together and hope for a better future. Her focus on regaining independence after divorce was exceptionally important to me related to finances.

          My Money, My Way by Kumiko Love

          Focus: Aligning emotional health with financial health

          Why it’s great for beginners: Thought provoking questions around money values and actionable steps to take control of finances

          Jess thoughts: Kumiko is a great example of healing your financial picture. Her book really helped me connect with my “why” for setting financial goals and got me excited about my future!

          Reading about money is where the mindset shift starts — but the system is what makes it stick.

          If you’re ready to take what you’ve learned and put it into action, the first thing I’d set up is the 3-account system. It’s the money management framework I use to pay off debt, build my emergency fund, and still enjoy my life — all on autopilot.

          Grab the free one-page setup guide below and you can have it running by the end of the week.

          3-account system cheatsheet

          I’ll send you a simple guide that will outline exactly how to setup the 3-account system.
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            And if you’re just getting started on your financial journey, this post walks you through exactly how I stopped living paycheck to paycheck on a six-figure salary — because earning more is only half the equation.

            The best books on financial literacy for beginners
          • Income Expansion, Money Mindset

            How to Make More Money in Your “Day Job”

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            I guess I am starting off my online coaching business with an unpopular opinion: earning more money in your “day job” is the path of least resistance to increasing your income and improving your financial stability. It’s the low hanging fruit that is tempting to overlook when presented with too many choices to make more money.

            My Short List of Money-Making Ideas

            Let me backup a step and provide a little context as to how I arrived at this conclusion…

            In March of 2020, like many, I entered uncharted waters of my life. The world stopped. My school-age kids were at home 24/7. I found myself unemployed and going through a painful separation with my (now ex) husband. To say I was in a constant state of panic is an understatement.

            My world collapsed. The ground beneath my feet became quicksand, where I began to sink into a world of sadness and depression. Maybe I will share more about this time of my life in this online space at some point. That story is not the point of this post. 

            It was during this time that I was faced with a laundry list of ways to make more money. Money, I will add, that I needed yesterday. My brain came up with a short list of options that included (but were not limited to) the following:

            1. Get a salaried job (where I would have to work from home, as the kids were with me primarily during the day)
            1. Rekindle my online blog (I had not posted content in almost a year and it did not generate enough revenue to cover my expenses)
            1. Go all-in on a business partnership with a friend (a business idea that hinged on in-person social events)
            1. Start a gig job (such as grocery delivery) until something else worked out
            1. Sell all of my belongings (which, let’s be honest, would have only helped for a short time and was not any type of long term solution)

            My Not So Great Ideas

            Let’s not forget the other two ideas to make more money presented to me at the time… 

            A few weeks into the stay at home orders, my well meaning neighbor suggested that I file for unemployment benefits. Here was the problem with that idea- I had not been let go of a job because of the pandemic. I had left my Corporate career in 2016 to be more available to my little kids. I had then spent the prior 3.5 years working with my (ex) husband at his family business, while blogging on the side. Legally, I did not qualify for unemployment and the idea of “working the system” did not sit well with me. 

            Not to be outdone by…

            The first divorce attorney I met told me that I would be lucky to find a job earning more than $50,000 a year. He advised me to take the path of NOT finding a job, which would increase my awarded settlement of child support and alimony. I still get the taste of throwup in my mouth when I think about this advice. He was obviously not hired!

            In my process of idea elimination, the above two mentioned ideas (those not on my short list) were immediately out. While I’m not above asking for help or asking for money when I am rightfully owed, both of these ideas offered a solution that relied on others. I knew that if I slipped into the mentality of my financial stability relying on others that I would likely not problem solve on my own. My gut told me the thought train of relying on others would not lead me to the financial independence that I so desired.

            Choosing How to Make More Money

            The “short list” of money making ideas sat written on a dry erase board hanging in my apartment bedroom. I stared at the list daily and frequently listed out the action items I needed to take to make each idea come to life. That activity left me feeling overwhelmed, more confused, and worst of all- not taking action. 

            Fortunately, I had a good support system in place in the form of my therapist and my immediate family. I experienced major anxiety and panic attacks at the thought of not providing for my kids and myself financially. 

            There were two impactful moments that shifted my mindset, ultimately leading to me choosing and acting on a solution to make more money:

            #1: Focus on ONE thing at a time:

            I read the book Essentialism by Greg Mckeown and asked myself the question- what is the ONE thing I can do that would have the biggest impact on my financial stability? The clear answer was to prioritize securing a work from home job. This job would meet most of the financial needs I had at the time.

            #2: Face the reality of inaction:

            In one of my (almost daily) calls to my closest sister, she virtually slapped me on the face. She said that I was not taking action and that is why I was not having results. I would like to note here that I did not want to hear this but I needed to.

            Now of course there were many other events and plot twists during this time that had an impact on my journey. These two events were the biggest key ingredients to changing my trajectory.

            Going All-in on ONE Idea

            While everyone’s financial journey is different there are overarching themes that translate across experiences. When I argue that the easiest way to make more money is your “day job”, I am making the case for leveraging the part of your day that has most of your attention. This may be a 9-5 job for many of you or it may look a little different. The path of least resistance in earning more money is to focus on increasing your main source of income. 

            In a world of “shiny pennies” everywhere, it may be tempting to entertain the idea of spreading your attention across many different income generating ideas. I am not judging- clearly I did this too. I would like to offer the idea that if you focus on ONE place to significantly increase your income, you may have faster results that surpass what you originally desired.

            How to Make More Money in your “Day Job”

            Once you’ve made the decision to focus on earning more in your day job, you really have two options:

            #1: Get noticed at work:

            If you have the desire and opportunity to advance within your current role or company, this could be a good option for you. Leverage any of the following to get noticed at work:

            • Midyear or annual review process
            • Master an in demand skill
            • Network within the company
            • Start/maintain a “brag book” of accomplishments and feedback

            #2: Switch roles and/or companies:

            Sometimes the income and/or opportunities you desires are just not available at the company you’re with or on the career path you’re on. Instead of trying to make the impossible work, you have the option to just “step over” into a new reality. Stop making it harder on yourself; I say this from experience. In 2023, I was able to increase my Corporate salary by 30% simply by switching companies into a similar role.

            Pep Talk for the Single Moms

            If you’re not a single mom, this still applies to you! It may be tempting to try a bunch of things at the same time. The reality is if you are feeling insecure/overwhelmed about your finances, the “throwing spaghetti at the wall to see what sticks” is only going to contribute to those feelings over time, and you might not even end up with the result you desire.

            Ask yourself- what is the ONE thing I can do that would have the biggest impact on my financial stability? And go do that ONE thing. I’m rooting for you!

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            Earning more in your 9-5 may be the path of least resistance to achieving your financial goals.