When Tiffany Aliche was in her 20’s, she fell victim to a credit card scam.
A crafty swindler convinced her to take out a cash advance against her credit card for $35,000. He said that he’d invest the money and produce Bernie Madoff- style returns. She was an inexperienced investor. She believed him.
She never saw that money again.
Aliche worked at a preschool. She didn’t make much money to begin with. But matters worsened when the school shut down, and she lost her job. She fell behind on mortgage payments and lost her condo.
In order to recover from such huge setbacks, she had to grapple with an enormous sense of financial shame.
Today, financial educator Tiffany Aliche, better known as The Budgetnista, shares how she overcame financial shame.
She talks to us about the opposite of shame, which is a sense of financial wholeness. And she discusses practical tips for how to navigate the challenges of debt and scams.
Discussion timestamps as of November 2023:
02:20: What is “financial wholeness?”
02:40: Tiffany’s story of overcoming debt and surviving a financial scam
19:30: How to work through the shame of a tough financial situation
20:53: How to know if someone is a safe space
28:10: The first steps of fixing your financial life: The emotional work
29:16: Reframing financial setbacks
33:39: The rules of side hustling
38:33: The side hustle vs. the side business
41:03: The difference between investing for retirement and investing for wealth
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