Latest news with #DashaKennedy
Yahoo
6 days ago
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4 Money Lessons That Hurt To Learn but Can Give You Financial Freedom, According to Dasha Kennedy
Dasha Kennedy is a powerful voice in the personal finance space, especially for those who struggle with money and are ready to break free from survival mode. Learn More: Read Next: As the author of 'Moving Beyond Broke: The Power of Perseverance in Personal Finance,' Kennedy shares hard-earned wisdom that can hurt to learn but will ultimately lead to true financial freedom. Many people believe that if they just track every dollar and stick to a budget, their money problems will vanish. But if fear, shame or trauma lurk behind your money habits, spreadsheets alone won't bring peace. 'If your relationship with money is rooted in fear, no amount of Excel formulas will make you feel secure,' Kennedy explained. 'You have to untangle the fear before you can manage the finances.' She also notes 'more income won't fix a spending habit that's really about survival, loneliness, or unhealed lack.' Healing your money mindset may involve confronting past experiences, seeking counseling or practicing self-compassion. With a healthy money mindset, you can break bad habits at the source and feel empowered by your budget instead of feeling punished. Trending Now: Kennedy encourages saving for more than just crises. 'Start saving for peace, pleasure and possibilities, too. You deserve to build a life you don't need to escape from,' the expert noted. While you always hear advice to build an emergency fund, don't forget to build a financial life that lets you thrive rather than just survive. On that note, Kennedy also reminds us, 'You don't need to earn joy or a day off. Rest, softness and small luxuries belong in your budget. Deprivation isn't discipline if it leaves you feeling resentful.' Financial experts like Ramit Sethi also advocate for conscious spending instead of deprivation. This means allocating money towards what truly brings you happiness while cutting back mercilessly on things that don't. Saving for experiences, hobbies or personal development can transform your relationship with money from scarcity to abundance. Kennedy emphasizes the power of awareness. Many people avoid looking closely at their bank statements or credit card bills because it can reveal uncomfortable patterns. 'Tracking your spending will show you the truth — and sometimes that truth is painful,' she said. 'When you finally look at the full picture, you give yourself the power to shift it.' This is a crucial step toward financial freedom. By honestly reviewing where your money goes, you can make intentional changes instead of being blindsided by overdrafts or debt. Avoiding your bank account and credit card statements doesn't make the fees or debt disappear. The first step towards financial freedom is to know what you owe and face your financial reality head-on. Kennedy's last lesson is about financial self-reliance, encouraging you to 'provide financial safety for yourself… even when love and partnership are present.' Whether you're single or married, you should have a financial safety net and the skills to provide for yourself. Financial experts like Suze Orman agree. Orman champions the 'yours, mine, ours' approach, in which married partners each have their own bank accounts, credit cards and savings while also sharing joint accounts and financial discussions. This way you are financially savvy and self-reliant no matter what the future holds. More From GOBankingRates 6 Hybrid Vehicles To Stay Away From in Retirement This article originally appeared on 4 Money Lessons That Hurt To Learn but Can Give You Financial Freedom, According to Dasha Kennedy
Yahoo
29-05-2025
- Business
- Yahoo
5 Key Signs You're in Financial Fight or Flight Mode, According to Dasha Kennedy
Dasha Kennedy, creator of The Broke Black Girl and financial activist, is known for sharing real-world money advice through social media and other online platforms. Recently, she partnered with National Debt Relief to offer guidance to people who have always assumed that their financial problems were the result of simply being 'bad with money.' Trending Now: For You: Kennedy said people should not blame themselves for a lack of discipline when it comes to excessive spending or failing to save for the future. She explained bad money habits may result from being in 'financial fight or flight' mode. The financial educator explained that financial fight or flight mode is 'a real physical response to stress that keeps your brain and body in survival mode.' Here are five signs that you may be operating out of fear when it comes to your money, according to Dasha Kennedy. People who avoid checking their bank accounts are not necessarily careless. They may instead be reacting to fear or anxiety surrounding their financial situation. Avoidance is not unusual when it comes to stressful situations and it may be more widespread than you think. According to a Mind Over Money study published by Capital One and The Decision Lab, 77% of respondents said they felt nervous about their finances while nearly 60% said they felt like finances controlled their lives. Read Next: Another indicator that you may be in financial fight or flight mode, according to Kennedy, is if you feel like budgeting is a punishment. Most experts agree that budgeting that is too restrictive or unrealistic can backfire. Kennedy suggested finding a system that 'works with your real life, not against it.' Feeling frozen when paying bills is a sign that your money habits may be based in fear. If you have a missed or late payment, you aren't alone. A report by NPR found that more Americans were falling behind on their bills with almost 9% of credit card balances falling into delinquency from 2023 to 2024. Higher prices and inflation are two major factors that may be contributing to the financial strain many people are experiencing. Kennedy recommended establishing a routine that helps to reduce stress when it comes to dealing with finances. People who spend to feel relief only to be bombarded with feelings of guilt afterward may not be spendthrifts. Instead, their habits may be based on a biological response to the stress they experience when faced with financial uncertainty or instability. Kennedy suggested seeking professional help to gain control over finances by building a realistic plan for spending and saving. Whether it's because of an insurmountable amount of credit card debt or living paycheck to paycheck, avoiding dealing with your financial situation may just be your body's response to a stressful situation. Kennedy recommends taking small steps to achieve financial stability, making one decision at a time to avoid triggering your body's stress hormones. More From GOBankingRates 8 Common Mistakes Retirees Make With Their Social Security Checks 3 Reasons Retired Boomers Shouldn't Give Their Kids a Living Inheritance (And 2 Reasons They Should) This article originally appeared on 5 Key Signs You're in Financial Fight or Flight Mode, According to Dasha Kennedy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-05-2025
- Business
- Yahoo
5 Key Signs You're in Financial Fight or Flight Mode, According to Dasha Kennedy
Dasha Kennedy, creator of The Broke Black Girl and financial activist, is known for sharing real-world money advice through social media and other online platforms. Recently, she partnered with National Debt Relief to offer guidance to people who have always assumed that their financial problems were the result of simply being 'bad with money.' Trending Now: For You: Kennedy said people should not blame themselves for a lack of discipline when it comes to excessive spending or failing to save for the future. She explained bad money habits may result from being in 'financial fight or flight' mode. The financial educator explained that financial fight or flight mode is 'a real physical response to stress that keeps your brain and body in survival mode.' Here are five signs that you may be operating out of fear when it comes to your money, according to Dasha Kennedy. People who avoid checking their bank accounts are not necessarily careless. They may instead be reacting to fear or anxiety surrounding their financial situation. Avoidance is not unusual when it comes to stressful situations and it may be more widespread than you think. According to a Mind Over Money study published by Capital One and The Decision Lab, 77% of respondents said they felt nervous about their finances while nearly 60% said they felt like finances controlled their lives. Read Next: Another indicator that you may be in financial fight or flight mode, according to Kennedy, is if you feel like budgeting is a punishment. Most experts agree that budgeting that is too restrictive or unrealistic can backfire. Kennedy suggested finding a system that 'works with your real life, not against it.' Feeling frozen when paying bills is a sign that your money habits may be based in fear. If you have a missed or late payment, you aren't alone. A report by NPR found that more Americans were falling behind on their bills with almost 9% of credit card balances falling into delinquency from 2023 to 2024. Higher prices and inflation are two major factors that may be contributing to the financial strain many people are experiencing. Kennedy recommended establishing a routine that helps to reduce stress when it comes to dealing with finances. People who spend to feel relief only to be bombarded with feelings of guilt afterward may not be spendthrifts. Instead, their habits may be based on a biological response to the stress they experience when faced with financial uncertainty or instability. Kennedy suggested seeking professional help to gain control over finances by building a realistic plan for spending and saving. Whether it's because of an insurmountable amount of credit card debt or living paycheck to paycheck, avoiding dealing with your financial situation may just be your body's response to a stressful situation. Kennedy recommends taking small steps to achieve financial stability, making one decision at a time to avoid triggering your body's stress hormones. More From GOBankingRates 8 Common Mistakes Retirees Make With Their Social Security Checks 3 Reasons Retired Boomers Shouldn't Give Their Kids a Living Inheritance (And 2 Reasons They Should) This article originally appeared on 5 Key Signs You're in Financial Fight or Flight Mode, According to Dasha Kennedy Error al recuperar los datos Inicia sesión para acceder a tu cartera de valores Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos
Yahoo
18-05-2025
- Business
- Yahoo
3 Fun Money Trends We Need To Leave Behind, According to Dasha Kennedy
Trends aren't limited to fashion. There's no shortage of money trends out there and like fashion, they're not all good. In a recent post on the National Debt Relief blog, financial activist Dasha Kennedy highlighted three money trends your finances need you to ditch immediately. Read More: Find Out: Keep reading to find out what these trends are and why they can be detrimental to your finances. The average consumer spent $218.75 per month on impulse buys in 2024, according to Capital One Shopping. Some people might be tempted to make impulse purchases after watching unboxing videos of viral hauls and must-have purchases, Kennedy said. Instead, she advised being intentional with your purchases and stopping to ask yourself if an item will add value to your life before taking your wallet out. Discover Next: A play on 'girl dinner,' TikTok user Samantha James introduced the idea of 'girl math,' highlighting how she — and presumably many women– justify their spending. Her examples included purchases under $5 counting as freebies, returning a $50 item to a store, and buying another $100 item counting as a $50 purchase and when concert tickets are bought months in advance, the show is essentially free. 'While this trend brought laughs and relatability to money conversations, sometimes it played into the idea that some financial decisions can be oversimplified,' Kennedy wrote in her blog post. She said there's nothing wrong with engaging in some guilt-free spending, but you should largely focus on making value-based decisions that align with your goals. Using positive affirmations to encourage yourself to be more responsible with your money is a good thing. However, that alone won't improve your finances. 'Pairing a hopeful mindset with practical habits like automating savings or tracking spending improves your chances of making real progress,' wrote Kennedy. Now that you know which money trends need to be left in the past, it's time to move forward. Kennedy shared several tips to help you do exactly that. When you've held onto certain financial habits for a while, it can be hard to give them up — even if they're not working. Doing so might make you feel like a failure, or learning new habits could feel daunting, but it's time to change that mindset. If the financial habits or trends you've grown accustomed to aren't making managing your money easier, Kennedy said it's okay to try something new. 'Look for habits that simplify your life, reduce financial stress or bring you closer to your goals,' Kennedy wrote. They might take a while to produce results, but she said strategies like automating your savings or tracking your spending will likely serve you better than a trendy Band-Aid solution. Instead of seeking out the next trendy way to overhaul your finances, Kennedy said to stick to the basics. This includes spending less than you earn, consistently saving money, and planning. More From GOBankingRates Here's How Much Cars Made in the US Cost Compared to Mexico, Canada and China 6 Hybrid Vehicles To Stay Away From in Retirement 4 Grocery Items To Buy Now Before Tariffs Raise Prices This Summer I'm a Retired Boomer: 6 Bills I Canceled This Year That Were a Waste of Money Sources: National Debt Relief, Money Trends That Were Fun, But It's Time to Move On Capital One Shopping, Impulse Buying Statistics TikTok, samjamessssss BuzzFeed, You've Heard Of 'Girl Dinner,' But This TikToker Just Brought Up 'Girl Math' And It's Probably The Most Accurate Thing I've Ever Heard This article originally appeared on 3 Fun Money Trends We Need To Leave Behind, According to Dasha Kennedy
Yahoo
11-05-2025
- Business
- Yahoo
10 Tiny Money Tips Financial Activist Dasha Kennedy Lives By
Dasha Kennedy, a financial activist, recently shared 10 tiny money tips on her Instagram, emphasizing that money tips don't have to be difficult to understand or complex. Instead, sometimes tiny money tips can have a big impact. This type of advice is coming at a crucial time, when 64% of Americans say they're more worried about running out of money than dying, according to the 2025 Allianz Annual Retirement Study. Read Next: Learn More: Kennedy's 10 tiny money tips are easy to remember, short and impactful. Her goal is to encourage as many people as possible to build a path to a more financially secure life. Here are the 10 tiny money tips people should consider following. Kennedy encouraged her followers to consider the quality of the items they buy rather than the quantity. 'It's not about having more; it's about having better,' she wrote. Investing in long-lasting items is a good way for people to ensure they're not wasteful. Check Out: Sometimes people don't like the word 'budget,' as it can feel restricting. But Kennedy reminded her followers that the purpose of a budget is to help you plan your spending, not to deprive you of fun. Just because someone is on a budget does not mean they are broke. Kennedy explained to her followers that having money can give people great peace of mind. 'Every dollar you invest is a step closer to long-term peace of mind,' she wrote. And she's not alone in this advice. According to the U.S. Securities and Exchange Commission, investing, while it is riskier than simply saving money in a bank, offers a better chance of building wealth over time. 'Priorities first, luxuries later,' Kennedy explained. This is a good reminder that when you need to prioritize your finances, your needs always come before your wants. Determining your needs and wants is a common step in making most budgets. Experian highlighted things like food, shelter and healthcare as needs, whereas it defined wants as things like dining out, travel and hobbies. In terms of making a budget, it advised first taking into account all needs and then determining how much can be spent on wants with what's left over. Mindset is essential when it comes to saving money. Kennedy cautioned her followers against 'hoarding' money because it comes from a place of scarcity and fear. Instead, save with strength and purpose. Money is something people can use to help them achieve their goals in life. It's more than something people use to pay bills, Kennedy explained. It's a tool people can use to help them build the life they're envisioning. Kennedy explained that it's always important to continue learning, especially about personal finance. The more knowledge people have, the better equipped they will be to build wealth in the future. 'Knowledge always pays dividends,' she wrote. Having a generous heart is another money tip. When people give, it helps them to live life through the lens of abundance, not scarcity. Again, Kennedy is not alone in her advice. Popular personal finance expert Dave Ramsey is a big proponent of giving. 'No one has ever become poor by giving … Not only does it generate good, but it generates contentment. Giving liberates the soul of the giver. You never walk away feeling badly,' Ramsey wrote in a Facebook post. In a world of instant gratification, it can be hard for people to deny themselves the things they want. However, Kennedy explained that people can reframe it to delaying a purchase, not denying one. Sometimes, waiting to buy something is best and gives you time to save for it. Kennedy reminded her followers that 'everything is negotiable' except your worth. This can be especially true when it comes to asking for raises at work and earning more to build more financial stability. More From GOBankingRates 5 Luxury Cars That Will Have Massive Price Drops in Spring 2025 4 Things You Should Do if You Want To Retire Early How Far $750K Plus Social Security Goes in Retirement in Every US Region 12 SUVs With the Most Reliable Engines Sources Dasha Kennedy, Instagram post Allianz, 'Americans Are More Worried About Running Out of Money Than Death.' U.S. Securities and Exchange Commission, 'Build Wealth Over Time Through Saving and Investing.' Experian, 'Budgeting for Needs vs. Wants.' Dave Ramsey, Facebook post This article originally appeared on 10 Tiny Money Tips Financial Activist Dasha Kennedy Lives By
