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Here’s an easy money hack: make your screen time a bit more productive by adding a dose of financial inspiration to your feed.
There are many universal truths when it comes to personal finance, but much of it fails to capture the nuance of personal situations—and no single resource can account for the various ways that race, gender, politics, and money intersect every day.
That’s why it pays to diversify the information you’re getting and hear personal points of view. And a new crop of personal finance experts are using their platforms to do just that—breaking down societal taboos to get real about money and share stories from people in their communities who are finding success.
In the months leading up to the recent launch of NextAdvisor, we’ve been speaking to and consulting with a broad range of forward-thinking experts in the world of money. And we’ve learned a lot.
These 10 pros talk all things personal finance—even, sometimes, the uncomfortable parts. Here’s why you might want to give them a follow.
Money Mentor For Women Entrepreneurs: Danetha Doe
Danetha Doe has one mission: to elevate the self-worth and net worth of women. Doe is a Jamaican-Ghanaian money mentor, writer, entrepreneur, and the creator of Money and Mimosas, a financial well-being resource and social club for influencers, bloggers, and creatives. The San Francisco-based personal finance expert also starred in the web series “Going From Broke,” produced by Ashton Kutcher, which got over 12 million views in its first season, according to her website.
We recently spoke to her about the implications of the COVID-19 recession on our mental health, and how the pandemic has left more than half of all Americans feeling anxious about their personal finances. Doe says that many of us are “stuck between a rock and a hard place” and feeling like “there’s no clear path as to how to get out of it.”
On her blog, Doe shared three steps for creating healthy habits during uncertain times: know your numbers, be mindful about your spending, and diversify your income.
How to Spend Less and Still Enjoy Life: Jully-Alma Taveras
Jully-Alma Taveras, aka Investing Latina, shares personal finance tips and tricks through her YouTube channel and Instagram account. In her videos, Taveras speaks about her own financial journey (she’s the daughter of immigrants from the Dominican Republic), how anyone can become an investor, and topics such as budgeting, saving, and relevant finance news.
She’s also a contributor to NextAdvisor—check out her latest story, where she shares how she calculated her “survival number” of $581, which represents the bare minimum amount of money she needs to get by each month. She includes a downloadable spreadsheet to help you calculate your own survival number.
“Creating and understanding your survival number isn’t about denying yourself,” Jully writes in the article. “It’s about being intentional with your spending, clear about your financial goals, and mindful about your consumption.”
Budgeting and Saving Tips: Tiffany “The Budgetnista” Aliche
Tiffany “The Budgetnista” Aliche blogs about personal finance for The Huffington Post and her Budgetnista Blog, co-hosts the podcast “Brown Ambition,” and created an online school, the Live Richer Academy, that teaches women how to create and implement a personalized financial plan. She’s also been spotted giving money makeovers on Netflix’s Queer Eye.
Aliche is a former preschool teacher, so she has a knack for explaining the fundamentals of money management—things like budgeting, saving, and building wealth over time—in a way that anyone can understand.
She recently shared her thoughts with NextAdvisor on how to create a budget that works in the current economic climate. Aliche recommends making minimum payments on your bills while you build up enough savings to cover six months of basic expenses. Because when unexpected expenses hit or you suffer a loss of income, “no savings with no debt equals debt.” To stay up to date on her budgeting and saving strategies, check out her Twitter and Instagram accounts.
Bite-Sized Lessons in Personal Finance: Rebecka Zavaleta and Nathalie Figueroa
The founders of Finance Snacks—Rebecka Zavaleta, 29, and Nathalie Figueroa, 27—want to make personal finance advice bite-sized and accessible for their family, friends, and community. They met while studying at the University of Pennsylvania, and they immediately connected over their passion for making wealth creation actionable and accessible.?
Finance Snacks was born after Figueroa and Zavaleta realized they were both unhappy with the financial state of their communities. Their emoji-centric, user-friendly feeds offers financial advice via community-oriented experiences. One of the best examples of their people-based approach is PayDay Diaries, which demonstrates real examples of how building good habits can lead to financial health. Read NextAdvisor’s take on why it’s our favorite money Instagram account.
Empowerment for Female Breadwinners: Farnoosh Torabi
Farnoosh Torabi is a personal finance author and expert and host of the “So Money” podcast, which features candid money conversations and strategies from well-known entrepreneurs, authors, and celebrities. Torabi launched a special series of “So Money” episodes in June called Black Wealth Matters, featuring Black thought leaders and experts from Queen Latifah to business coach Rachel Rodgers.
She’s also a contributing editor at NextAdvisor. Torabi wrote about her experience of buying a home during the pandemic and the surprises she and her family encountered along the way. It will go down as “either the wisest or dumbest money move my husband and I ever made,” she writes. One big takeaway from Torabi’s experience: Be prepared for extra steps and a longer wait time.
Smart Money Moves for Women: Suze Orman
Suze Orman, one of America’s most recognized personal finance experts, was on her way to retirement before the coronavirus pandemic hit. She had even moved to a private island in the Caribbean with her wife, KT. But then the economic landscape changed with COVID-19, and she was once again in high demand. Known for her tough-love style, Orman has been dishing out personal finance advice for over 20 years and isn’t afraid to speak her mind.
The certified financial planner, television personality, and author now hosts a weekly podcast called “Women and Money,” which speaks primarily to women on a wide range of personal finance topics, from the emotions of money to how to prepare for the costs of health care in retirement. Orman also hosts a Q&A segment for NextAdvisor every Thursday called “Ask Suze,” where she’ll answer readers’ money questions.
Financial Advice for Broke Millennials: Erin Lowry
Erin Lowry helps millennials “get their financial lives together” by offering advice on how to make more money, get out of debt, and build savings. Through her “Broke Millennial” blog, books, lectures, and workshops, Lowry tackles questions like whether you should share personal financial information with your partner and how to manage student loan debt after college.
She’s also a contributor to NextAdvisor, and offers advice on how much to save for retirement in uncertain times. “Whatever your nest egg goal, this shouldn’t be a ‘set it and forget it’ situation. You need to check in on your goal as your life changes,” Lowry writes.
Growing Your Personal Wealth: Ramit Sethi
Ramit Sethi is a New York Times best-selling author and founder of iwillteachyoutoberich.com, which focuses on strategies for investing and earning more. Sethi doesn’t believe in saying “no” to spending on everything, so he won’t shame you for buying lattes or avocado toast. Instead, he encourages big-picture thinking—moves like getting a raise or starting a side hustle that can have a transformational approach on your wealth.
Sethi teaches readers how to make financial choices that align with what they value most, so his definition of “rich” is subjective. He spoke to NextAdvisor about the importance of having an emergency fund — he recommends saving three to six months of expenses during non-pandemic times and a year’s worth of expenses given the current pandemic and financial crisis.
Relatable Personal Finance Tips: Jill Schlesinger
Jill Schlesinger is a certified financial planner and Emmy-nominated business analyst for CBS News. She regularly appears on CBS radio and TV stations across the country and is the host of the “Jill on Money” podcast and nationally syndicated radio show.
Schlesinger has a talent for breaking down complex personal finance ideas and topics into understandable, relatable themes. She not only tells you what you’re doing wrong and how to fix it—she tells you why, too. She’s recently wrote an article for NextAdvisor about the importance of having a will and other essential estate planning documents in place during the pandemic, and has also shared her thoughts on mortgage forbearance options, refinancing, and how much you should have in savings.
“You should have six to 12 months of your living expenses in a safe place that’s accessible to you,” Schlesinger told us. “People find it to be incredibly boring, and I understand that. It is incredibly boring except when you need it. You never know when you’re going to need it.”