Spending on Values with Ayana Campbell Smith from Millennial Money Guide

Hello! On the podcast this week, I spoke with Ayana Campbell Smith from the Millennial Money Guide. She is a debt free money coach helping millennial women and couples become financially empowered. Ayana launched Millennial Money Guide in 2019 through her newsletter, and her approach is centered around spending on what you value the most. We talk about how she started her business, how to prevent toxic spending, and how to create a spending plan you’ll want to stick to long term.

Ayana initially started the Millennial Money Guide through a newsletter that she wrote once a month. From there, she began growing her Instagram, and has since grown it into a successful business. She is such a wealth of knowledge, and I encourage anyone who wants to learn more about budgeting and finances to listen to this episode. Here are some topics we covered:

1. Pick the one or two things you are passionate about and grow from there, but don’t be afraid to pivot. If you discover something else that you are more passionate about, don’t hesitate to change!
2. When you are trying to overcome fear of change, really ask yourself – what is the worst that can happen? Setting the fear aside once you realize that the worst outcome is still doable makes going through that change much easier. The anticipation of change is often worse than the actual outcome.
3. Ayana’s budgeting for her clients has three main pillars: goals, priorities, and values. She approaches spending from a values based budget and teaches her clients to discover what they value, and then budget for those things. Action item you can do today: write out what is important to you, and focus on budgeting for those items or services. Understanding your spending patterns and identifying what is important to you is so crucial when sticking to a budget.
4. In relationships, it is important to understand your partner’s money values and communicate consistently what is important to each other. Compromise and trust are crucial when combining finances.
5. Audit your budget often to prevent toxic spending. How did you feel when making a purchase? How did you feel afterwards? Was this in alignment with your values? These questions will help you when looking through your purchases each month.
6. Budget for FUN! Even if you are on a debt free journey, it is important to budget for fun.

To hear more from Ayana and learn about her coaching program, visit:

• Instagram: https://www.instagram.com/millennialmoney.guide
• Blog: https://millennialmoney.guide
• Coaching Application: https://forms.gle/1E5on67uy8NCLy5z6
• Email: hello@millennialmoney.guide