687: Practical Money-Saving Tips for the Financial Feminist
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Episode Highlights
Ramen Budget
introduces the concept of the "ramen noodle budget," which is the minimum financial requirement for living and running a business. This budget helps entrepreneurs understand the bare minimum they need to earn to sustain their personal and business expenses. Tori emphasizes that budgeting is not about deprivation but about prioritizing what truly matters to you.
A budget is literally just, I want this thing. So that might mean I don't spend money on this other thing. I don't care about as much.
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She advises entrepreneurs to track their expenses closely to ensure they are meeting their financial goals 1 2.
Financial Reality
and Tori discuss the importance of embracing financial reality for personal and business growth. Tori stresses that understanding your financial situation is crucial for achieving entrepreneurial dreams. She uses the metaphor of the "ostrich effect" to describe how ignoring financial realities can hinder success.
If you want this thing, but you're refusing to, like, understand your financial picture... you will not do that. That will be impossible for you.
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By viewing financial management as a game, Tori finds it empowering and encourages others to adopt a similar mindset 3 4.