8 Financial literacy tips with Nicole Lapin

Let’s be real: managing money can feel overwhelming, especially if no one ever taught you how. If you’ve ever found yourself staring at your bank statement in disbelief or dodging calls from unknown numbers (spoiler: it’s probably a bill collector), you’re not alone. Financial literacy isn’t just about understanding money—it’s about taking control of it.

The good news? You don’t need a finance degree to get your money game together. These simple, actionable tips will help you build a solid financial foundation—no jargon, no judgment, just real talk.

1. Set clear financial goals

If you don’t know where you’re going, how will you get there? Goal-setting is the GPS for your financial future. Think of it as daydreaming with a plan.

• Short-term goals: Pay off a credit card, save for a vacation or stash a little extra for a splurge dinner.
• Long-term goals: Buy a home, invest for retirement or finally quit that job you hate because you have financial freedom.
• Make them SMART: Specific, Measurable, Achievable, Relevant and Time-bound goals keep you on track.

For example, let’s say you’re fresh out of college and want to pay off student loans in five years while saving for a bucket-list trip. By committing 20% of your income to debt while setting aside extra cash for travel, you can do both—guilt-free.

2. Know where your money goes

Ever wonder where your paycheck disappears? It’s time to find out. Tracking your spending helps you make better choices, cut waste  and feel more in control.

• Use budgeting apps: Ask friends what they use or go old-school with a notebook.
• Categorize your expenses: You might be shocked at how much goes toward delivery fees or subscriptions you forgot about.
• Check in often: A quick review can help you spot overspending before it snowballs.

Small shifts—like meal prepping instead of ordering takeout—can free up hundreds a month. That’s money that could go toward an emergency fund, investments, or, yes, that vacation.

 3. Automate everything

Automation is your financial BFF. It makes saving effortless and helps to ensure you never miss a bill payment again (goodbye, late fees!).

• Pay yourself first: Set up automatic transfers to savings each payday.
• Auto-pay your bills: Avoid fees and keep your credit score happy.
• Try round-up savings: Some banks offer a service that round up your purchases and stash the spare change in a savings account. It’s the easiest way to save without thinking about it.

Think of automation as setting your future self up for success—on autopilot.

4. Let compound interest do the heavy lifting

If you take away one thing from this list, let it be this: compound interest is magic. It’s how small amounts grow into big wealth over time.

• Start early: Even tiny contributions to a retirement account can grow exponentially.
• Use a compound interest calculator: Seeing the numbers can be motivating.
• Max out free money: If your employer offers a 401(k) match, contribute at least enough to get the full match. Otherwise, you’re leaving free money on the table.

Investing feels intimidating, but you don’t have to be an expert. The key is starting—yesterday would be ideal, but today works too.

5. Get to know your credit score (and protect it)

Your credit score affects more than you think—loan approvals, interest rates even job applications. Treat it like a VIP pass to better financial opportunities.

• Check it often: Look for errors or suspicious activity.
• Keep credit utilization under 30%: If your limit is $10,000, don’t carry a balance over $3,000.
• Pay off your balance in full: Interest charges are a silent wealth killer.

If you find a mistake on your credit report, dispute it ASAP. A small fix could boost your score enough to score lower interest rates (which means paying way less over time).

6. Expect the unexpected (a.k.a. build an emergency fund)

Life happens—cars break down, medical bills appear out of nowhere, jobs get lost. An emergency fund is your financial safety net.

• Aim for 3–6 months of expenses: More if your income is unpredictable.
• Start small: Even $500 can make a difference.
• Get the right insurance: Health, auto, home—it’s worth it.

Imagine your car needs a $1,200 repair tomorrow. Would you be ready? An emergency fund keeps surprises from turning into disasters.

7. Never stop learning about money

The financial world is always changing. Stay ahead by keeping money education fun and easy.

• Listen to finance podcasts: Perfect for your commute or morning routine.
• Follow smart money blogs: Many break down complex topics into bite-sized, digestible info.
• Attend free webinars: There are tons of free resources that can level up your money knowledge.

Knowledge is power. The more you know, the better decisions you’ll make—and the more confident you’ll feel about your financial future.

8. Spend with intention

Every dollar should have a purpose. Mindful spending means making sure your money aligns with your goals and values.

• Differentiate wants vs. needs: No, you don’t need another subscription box.
• Use the 24-hour rule: Wait a day before making non-essential purchases. You’ll be surprised how often you change your mind.
• Maximize perks: Cashback credit cards and rewards programs can stretch your dollars further.

Before impulse-buying that trendy gadget or streaming service, ask yourself: Does this get me closer to my goals? If not, reconsider.

Remember: Financial literacy is a habit, not a one-time fix

Building financial literacy is like building muscle—you have to work at it consistently. But the more you do, the stronger (and wealthier) you get.

The best part? You don’t have to overhaul your life overnight. Start small. Automate your savings. Track your spending. Learn something new about money each week.

One small shift today can lead to major financial wins down the road. So, what’s your first step?