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Lessons - Fix The Money Education Gap | Tiffany Aliche - The Budgetnista · Success Story with Scott Clary

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  In this lessons episode, learn why traditional education fails to teach financial literacy
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  and how that impacts your financial future. Discover the key principles of building wealth.
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  The importance of paying people well and why true financial success goes beyond just making
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  more money, gain insights on designing a life that prioritizes freedom, stability, and long-term
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  happiness.
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  Everything that you're teaching over, it's great that you're teaching it, but why don't we do a
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  better job of teaching this in school? Why is it like, why is education, you know, I think education
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  is very broken. How do we fix this stuff? How do we teach this other?
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  One of the names I was fortunate in is so I worked with my assembly woman. Her name is Angela
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  D. McKnight and in 2019, I got the law passed called the Budget East of Law. It makes financial
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  education mandatory for middle school students. You got a lot passed. Yes, I didn't know that.
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  I thought you were queuing me up. I was like, oh, he did his research, did I got him? No, I didn't
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  get that. No, that, oh, I wasn't queuing you up at all. No, I just think I always think education
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  is broken when it comes to what we're focused on and what we teach and financial literacy is just a
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  huge gap. Yes, and so for me, I thought the same and that said, you know what, I used to teach
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  financial education just on my own to my preschoolers, like, you know, because when you're little
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  financial education looks like service giving, it looks like math, it looks like this is a dollar,
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  you know, and so like, so I know what age appropriate financial education looks like and so
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  my assembly woman I told her I was just so frustrated that like these kids are not learning it.
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  And she said, well, thankfully in New Jersey, we were really early adapters for high school students.
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  So there was already a law in place for high school students and I'm like, that's awesome,
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  but it should be sooner. And so I initially far for elementary and middle school and there was
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  a lot of pushback. So they allowed the elementary component, but we're going back for element for
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  they allowed the middle school component, but we're going to go back for elementary school because I
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  want at least in the state of New Jersey, the star that as soon as you start kindergarten,
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  you're running about money. So by the time you get to middle school, you're like, oh, okay,
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  I understand a dollar and I understand savings, I understand, you know, I'm giving and then middle
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  school, oh, I understand where credit is and then high school, oh, I understand where earning is,
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  I understand where profit is at losses. So by the time you get to college and you're offered all
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  these credit cards, you're like, oh, no, no, I learned about that in fifth grade. I know exactly
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  what's happening here. And so if we can make that work in New Jersey, it's much harder obviously to
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  get a national law passed, but if we can work make that work in New Jersey, what happens is oftentimes
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  and I've gotten this that people will hit me up from other states and say, how'd you do it? And
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  I'll share with them, you know, now connect them to Angela. So I'm like, you know, because this
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  legislator can then talk to your legislator and walk them through what she had to do as far as
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  like the law was concerned. And so yeah, I just think I don't know why it's not taught. Well,
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  here's why at first, education was a function of creating a working class. Think about it this
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  way. It's almost like the matrix. Remember in the matrix, you realize that like human beings were
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  being break to be batteries. And so like, I think that all the time that like sometimes the way
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  education is set up is for you to be a battery to the bigger system. And I'm like, no, let me be
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  neo. We're breaking out. We're breaking out. I love that. I love that. That's so that's I love that
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  analogy. That's really smart. So you know, I just think about like my experience and I sort of
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  anyone who's listening actually did not make a cure for that. It's awesome. So as it is
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  honestly, it's just like, it's something I wanted to bring up with you because I thought
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  you had an opinion on it. And most people that dabble in financial education do. But the
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  reason I bring it out is because I'm pretty sure like the first time that I ever had exposure to
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  anything financial was like somebody pitching me a credit card on the college campus. Yeah.
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  That's it. That's about as close as financial education came to actual education.
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  But okay, so we got we got we got the whole the whole premise of education. I think it comes
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  from you right. This is we're creating people to make them hit a standard, but that's it. We don't
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  need to create people that are creating generational wealth. We just need to contribute to society.
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  And contribution to society means a month a month is fine for contribution to society. But for
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  the average person, that's a pretty city life. Exactly. If you like look at it, look at what's
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  happening now. The other day, I went to a shopping shop. That's a big supermarket chain here in
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  New Jersey and the Northeast. And they it's think about whatever your biggest supermarket is. That's
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  what stoppage shop is. There were two past years. I mean, the laundry where I was like, what's
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  heck? Unemployment more. The people are making more staying home than they are at the stoppage shop.
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  That's why they don't want you to make so much money because who would work the stoppage shop.
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  And maybe employees should just pay more. Exactly. You're out how to do business better. That's a
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  whole other conversation. Exactly. You know, but honestly, that's why the reason. And then I went
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  to the wall grains around the corner and same thing. It was like, wow. So when people have access
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  to more money, they're like, no, I'm not showing up unless you can pay me a livable ways because
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  staying home right now is more of a livable way. And even like the way I developed a budgetista,
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  I only grow to the capacity that we can pay well. You know, like in the beginning, it was really hard.
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  I didn't have much money. I remember like the most I could pay, I was like, look, all I could do
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  is $9 an hour. But we're transparent with our numbers. Everybody gets to see our numbers.
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  No matter whether you're customer support or the COL here are numbers. Here is for company,
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  our size. We really don't want to have more than 33% of your, I'll say your income going toward
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  payroll because that you get a little shaky as far as like how solid your company is. So we're at
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  33%. And so as we do better, we increase. Now, what's so great about it is that I don't
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  follow traditional rules where it's like, oh, you know, once a year, I'm like, no, if we're doing
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  better and it's like a consistent do better. And it's I see that this is where we are now. And
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  it's three months later, we're increasing. You know, like I've had I've given, I remember like I
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  called them my lead team. I've given $20,000 raises. Like, you know, what? You know, we like, we
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  really banded together six months since the new year. We have taken the business to the next level.
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  So we're going from 60 to 80 now. And they're like, wait, what? And they're like, are we allowed
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  to do that? I see I never worked with corporate America other than like, you know, one on two
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  internships as a team. It's going to screw someone up who's so's worked for men in big company.
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  That's not how we do. Tiffany, I know like, well, let's check with the CFO. Like, do we have
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  our schizek we do? But people don't need to do that. I'm like, well, is it a Leo's is like, no,
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  I'm like, well, then let's bump them up. And now on the team, the literally there are people on
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  the team that started me three years ago, making nine thousand hours and make six figures now within
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  three years. Because I believe that you pay people well, you might not always be able to in the
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  beginning, but let it not be because you're trying to hold on to all the money for yourself. But
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  we pay people really well. We don't have turn around really at the budgetista. We pay people well,
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  we treat people well, we operate from a space of integrity and transparency. And as a result,
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  that's why we're able to give so, so much to our audience. That's why you see such an amazing
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  community because they feel taken care of because the team has been taken care of.
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  Amazing. So these are just all best best practices for building a business.
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  I'm trying to think what else or some other interesting things. We spoke a little bit about
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  financial education, entrepreneurial lessons. Let me check my notes and see if anything else that
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  I want to want to go and do. Was there anything else that while I'm looking at this,
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  was there anything else that's top of mind for you that financial education,
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  and how we pay people, employment, anything else that you would stop in mind?
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  Well, this is not as much financial education as the lesson that I've been learning lately is
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  to really ask yourself, not so much what do you want, but how do you want? How do you want to live?
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  Because I had been broke broke like 30 year old Tiffany had less money than 12 year old Tiffany
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  broke. I have been like, you know, just a step above broke preschool teacher Tiffany making,
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  you know, $39,000 a year, but really that's like next to nothing especially in the jersey.
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  I had been somewhere in the middle where my business was making six figures and I have been where
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  I am now where my personal network is seven figures of my business makes eight figures a year.
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  So I have been not every stage because I have not been, you know, a hundred million dollars
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  but it's kind. So the thing that I have realized and observed is that
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  past a certain amount of money, the money doesn't enhance anything.
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  Once I was able like the house that I live in now, my husband now were able to purchase it cash
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  and I was able to in that same year to pay off my parents mortgage and we send them money every
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  month. I was able to also pay off my student loan debt. You know, we were able to get a
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  rental property and paid for a cash. We were able to purchase our cars and paid for a cash.
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  So my husband and I are debt-free like my nephew Roman. Like we have, we're debt-free like a toddler,
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  although he's unfodler. Debt-free like a big boy, that's what we told him. You're a big boy now.
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  Debt-free is like right now, but the more money that comes in once I got the stability part
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  down, the more money that came in, it did not really affect my day-to-day life. You know,
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  so I really have to ask myself, what is it how do I really want to live? So I want, you should be
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  considering that now. I want you to assume that you will grow wealth, especially if you're a
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  business owner, assume that eventually with time and effort and personal investment that your
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  business is going to grow and yet you're going to grow wealth, but how will it meet you?
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  I wanted to meet you healthy, happy, whole, and wealthy, because I myself almost lost sight of that.
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  I just recently came back from a six-week hiatus just to recenter and say,
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  keep me where are we headed? Are we just working to work and to work? Like where are we headed?
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  I think not enough business people talk about that because so many of my friends who have businesses
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  are miserable. You've literally left corporate America because you say it was miserable there,
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  only to recreate the misery in your own business. And so I'm just here to kind of like give you
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  a forecast for it. I am, you know, for those of you who are just starting out, see me as what
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  potentially can be in your future and say, how do I want to meet myself there and make sure to
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  keep that in mind with how you grow your business? I think that's not set enough because everybody
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  wants to talk about profit and loss and money and this and that, but you know, you don't want to have
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  all those things and then have a heart attack and then what? You know? Thanks for tuning in.
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  episode. And if you want to dive deeper into this conversation, check out the links in the description
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  to watch the full episode. See you in the next one.