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I don’t know about you, but the first time someone told me nonchalantly to save six months of my expenses, I was instantly intimidated! I remember thinking to myself, “If I can’t save $500 consistently, how in the world could I save several thousand?” And, if that was the key to this whole financial game, then quite frankly, I felt locked out for life! (Touch your neighbor and say, “Amen!” if you feel me!)

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Luckily, I learned early on that it just didn’t have to be that hard. Instead of looking at a lofty goal that seemed so far out of reach, I decided to break my goal down into micro steps. So, if you’ve been feeling hopeless with the big saving goals, here’s what I suggest:

Step 1: Determine what a great savings dollar amount to start at would be for YOU. (Remember, this is not about what everyone else says or thinks…including the “experts.”) I determined a goal that would seem like a big win for ME! At the time, if I could get $500 into a savings account and not have a need to touch it for 30 days or more, I was totally W.I.N.N.I.N.G!

Step 2: Set your next milestone for $1000.  Everyone, even college students, understand what personal obstacles could have been overcome had they only had $1000 in savings. As I often say, “Savings makes the difference between a crises and an inconvenience!” One thousand tucked away could make the difference between getting that flat tire fixed on the spot and having to “call-in” and tick your boss off AGAIN!

Step 3: Get one month of your net income stacked away. I’ve had people debate with me over whether this should be expenses or income.

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More Professional Advice Below:

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5 Steps to Funding Your Business

Listen To This Playlist While Counting All The Money You  Saved!

For 2024’s iteration of MadameNoire and HelloBeautiful’s annual series Women to Know, we knew we wanted to celebrate the people who help make the joys of film and television possible. To create art is to create magic. This year, we spotlight Hollywood Executive’s changing the face of cinema.