• Hanifah Jones

Five Tips for Managing Money (Featuring Monique Elise)

Growing up we were taught to shy away from openly discussing one of society’s most taboo topics: money. For a long time it was considered rude to discuss salary and other money related-topics. Unfortunately, this secrecy about finances has led to generational cycles of poor money management and bad credit. Like many people my age, I’m ready to break the cycle.

Financial literacy is a very important and overlooked aspect of adulthood. Once you enter the “real world”, your finances are no longer as simple as spending the money you earn from your paycheck. There are plenty of factors to consider including credit, savings, taxes, and paying off debt.





After graduating college and moving into my own apartment, my relationship with money drastically changed. I quickly realized that my money didn’t solely belong to me; my landlord, loan servicer, and the federal government are all entitled to a portion of my income. To quote Destiny’s Child, life is full of “Bills, Bills, Bills.”

Eager to learn more about money management I reached out to Monique Elise, one of my favorite bloggers and someone I consider to be a finance guru. On her blog Monique gives readers tips for saving money and obtaining financial security.


Here are Monique’s Five Tips for Money Management:

  1. When you fail to plan, you plan to fail. The best thing that you can do for yourself and managing your bills is to make a plan for your money. A budget, no matter what your salary, is essential to money management and financial freedom.

  2. No matter what, pay yourself first! As soon as your paycheck hits your bank account, a portion should automatically be sent to your savings. It doesn’t matter if it’s five dollars, or five hundred.. Save!

  3. You’d be surprised how much more money you’d have in your pocket if you cut your excessive spending! Swap getting coffee everyday, taking Uber, or going to your favorite spot for lunch a few times a week for making your own coffee, walking, or packing your next meal. Trust me, you’ll be amazed at how fast those coins will add up.

  4. If you can, try to get a month or two ahead on your bills. That way, if you have an unexpected emergency or financial obligation, you’ll have wiggle room to do so without losing track of your long term financial goals!

  5. When it comes to making enough money to cover your bills, don’t be afraid to get creative. Do you have an extra bedroom at your place? Rent it out! Spare time on your hands? Walk dogs, or tutor!

Not only are Monique’s tips incredibly effective for saving money, they’re also easy to implement into your everyday routine! Whether you're saving money for a vacation or your 401k, it’s important to make small changes that will benefit you in the long run. Apps like Mint are great for budgeting and Acorns is a wonderful tool for investing. As young adults, this is also the time to start building our credit. It’s important to make sure you don’t spend above your means and make your payments on time (acquiring interest is how things go downhill).


In a generation that glorifies “flexin for the gram” it can be difficult to prioritize saving over spending. Trust me, I would love to spend my rent on a new designer purse but I’ll just have to wait until I’m in a place where I can do both. Jay-Z once said, “you can’t afford something unless you can buy it twice,” and he was right.

Remember, money isn’t everything, but it is important for you to have control over your finances. Here’s to financial stability in 2020!

About Monique Elise


Monique Elise is a lifestyle blogger, author and self-proclaimed go-getter. Monique is passionate about helping other millennial women realize their fullest potential. Specifically in areas of personal finance, personal development and personal relationships. Her motto: women can have it all, and be fabulous while doing so.


A creative at heart, Monique released the 3 - part series, "Dilemmas of a Damsel"- a provocative tale about unmarried women as they navigate the complexities of finding love, in 2017. You can check out her books here.



With her website, www.moniqueelise.com you can find inspiration and motivation with her lifestyle tips, financial advice, and gems about your mindset. Her ultimate goal is to use my gift and platform to connect with other FIERCE and FABULOUS women that want to go after the life that they deserve and make their happiness a priority.


Connect with Monique

Instagram: Monique Elise

Website: https://www.moniqueelise.com/

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