7 Steps to Live Like The Rich and Famous (that your CPA won't tell you!)

Take a moment to imagine your dream life coming true.

Brunch date with the girls on Monday followed by a shopping spree that is pleasantly interrupted by your business manager calling to inform you that you’ve been booked for a gig with two of your BFFs in Venice on Wednesday. Time to pack your bags, ladies.

Socialites on Money & Mimosas

Late that night, you and your girls are escorted in a black sedan to the private plane waiting to escort you to Italy. The plane is fully stocked with fresh fruits, charcoal infused water, and fresh halibut. You arrive in Venice and are taken to the exquisite Il Pellicano, a hotel co-founded by a fellow American socialite.

The next couple of days are a whirlwind of photoshoots, interviews, meet and greets, capped off with an invite-only fashion show on Friday night. You and the girls take the next day to explore the city, before jet-setting back to the States.

The life of a Socialite is one for the adventurous, passionate, woman who is in a position to drop everything in a moment’s notice for an opportunity of a lifetime. An opportunity that allows her to experience life to its fullest and indulge in the absolute finest.

Money & Mimosas

 

While this may seem like the life only afforded to those that have been lucky enough to be born into immense wealth,  or the life of the rich and famous... it is also possible to anyone willing to take the steps needed to create the life of their dreams.  

Here are the seven steps to take to live like the rich and famous.

  1. Create a vision board. What are your goals and aspirations? What is the type of person you want to become in this world? For a step by step guide on this, google and check out The Painted Picture.

  2. Write down all the reasons why you CAN’T achieve your vision. Then, write down why all of those negative reasons are false Often times our mindset is what gets in the way of us accomplishing what we want. What are some negative things you say to yourself when you think about the goals you want to achieve? On that same sheet of paper, cross out all of the reasons why you can not achieve your dreams and replace it with why you can achieve them.

  3. Put together a plan of action. What do you want to accomplish 30 days from now? 90 days? One year? Clearly defining a timeline is the difference between a goal and a wish.

  4. Reevaluate your money habits. Want to live like the rich and famous? Well being “rich” takes money and understanding how it works so you can hold onto it. Take a hard look at some of the financial habits you have that are not serving you and commit to changing them.

  5. Boost your savings. Getting into the habit of paying yourself first is a trait of those that have achieved success. Open up a savings account and make it a habit to pay yourself a percentage of your income on a weekly or monthly basis. Check out Radius Bank’s high-yield savings account. This has one of the highest APY rates on the market.

  6. Launch a side hustle. Everyone from Beyonce to the CEO of Apple has multiple income streams. Take a few moments to think about your passions and how you can leverage them into a money-making side hustle. Be sure to check out my post on the 14 steps for launching a side hustle and the Celebrity section for business insights from our favorite celebrities.

  7. Surround yourself with luxurious experiences and successful people. In order to believe in what is possible for you, you have to first see it. Either in your mind’s eye or in the real world. Placing yourself in situations and around people that elevate your vision of what is possible, will create a huge shift in your reality.


Bonus: Last, but definitely not least, commit to becoming financially healthy and fit. Be sure to check out my 5 tips on how to be financially fit. Especially, focus on tip #3- a weekly money date where you review your finances, and treat yourself to a mimosa. Because having fun with your money is what #MoneyandMimosas is all about!

This post is in partnership with Radius Bank.

For more tips on how to lead a financially independent life, sign up for my weekly Money & Mimosas Insider list.

How to have a life this summer without going broke

Oh the life of a Socialite during the summa summa time. Mimosa brunches, fitness challenges to keep that summer bod tight and right, lounging in the sun at the park, impromptu photoshoots, BBQs, pool parties, birthday parties, shopping dates…

Like you, the summer is my time to show up and show out. I don’t know what it is about the warm weather and sunshine, but it gives me all motivation to live my best life. And the urge to spend a lot of money. I thought I was alone in this until some of my girlfriends shared with me that the summer time is when they see their credit card balances go way up, and their savings accounts go way down.

Recently I was chatting with a woman named Brittney*. 23-year old, recent college graduate, working at a fashion tech company based in New York. I had first connected with her at a Socialite event and we were catching up over mimosas while she was visiting family in  San Francisco. As most conversations go with my friends, the topic quickly turned to money.

Summer Fun.jpg

It had been one year since Brittney had graduated from college and she had been with the company for about four months. Her salary was $55,000, and after taxes, etc- she was bringing home about $3,000 a month. She had four roommates and they were each paying $1,000 per month. Sidenote: this is the perfect rent to salary ratio for Brittney. Ideally, your rent will not exceed a third of your take -home pay.

“But,” she went on to say, “I am always broke. I have no idea where the rest of my money is going. And now that it’s summer, I feel like I’m whipping out my credit card every two seconds to buy a new outfit or concert tickets or whatever. This is the most money I’ve ever made and I know how to live on much less. But, it’s been a real struggle these last few months.”

I sympathized with Brittney. I could certainly understand that feeling of having more month than money. It is so stressful to live on a wish and a prayer that your account won’t be overdrawn, or that you can squeeze by without paying rent until the 5th, or seeing your credit card balance continue to rack up.

Needless to say, Brittney is not alone in this. So many people earning a decent income, still feel broke. They never feel like they have enough money and constantly have the urge to spend money they don’t have.

Especially during the summer.  During the months of sunshine, outdoor festivals and parties, none of us want to have the sense of FOMO. We all want to be involved in all the activities, buy new outfits for every occasion so we can have Instagram-worthy photos, and live our best lives.

But doing all of that doesn’t mean you have to risk your financial health. Being mindful about your money will save you headaches, anxiety and, it goes without saying, dollar bills! Here are some things you can do to have a life this summer, without going broke.

  1. Pick up a side hustle- or three. Yes, I’m sure you’d rather not add to your workload, but having an additional source of income will give you more discretionary income. Not to mention, the time you spend working means less time you will have to spend your money. Wink wink.

  2. Have your girlfriends come over and go for a walk. Instead of meeting for happy hour or brunch, invite your friends over for a party in your home. Ask everyone to bring a dish and drink to share. Not only are you saving money, but you’re also spending time in your beautiful home. Win-win!

  3. Check out your local area’s free events. Remember back in college when you would go to events because they had free food? Yea, I do! I didn’t care what the event was about as long as they fed me. Now that you’re a “grown-up”, doesn’t mean you can’t check out the free stuff. Look up your local area’s bloggers and check out their recommendations for free things to do.

  4. Go hiking or biking. Incorporate outdoor activities that are free to do. The summer time is the best time of year to get outside and explore hiking and biking trails.

  5. It may go without saying, but I have to mention that you also have to get real about your spending. Check your bank account on a weekly basis to review where you spent your money. The Radius Hybrid checking account is one to consider if you want to earn interest on your checking balance (and who doesn’t want to make money on their bank balance!). Being mindful about your spending is a big part of being the master of your money - not the other way around. For more tips on what to do during your weekly date, check out our article, What to do doing your weekly money date.

For more money tips, join our weekly Insider list. 


*Name changed to protect identity

This post is sponsored by Radius Bank

"What's Hot" June Fashion Trends with the Walnut Creek Socialites

It’s official, summer is here! ️ Are you excited for all the pool parties, BBQs, blogger events and photoshoots?! We know we are! We are so excited about Money & Mimosas to collab with thredUP on our first ever fashion trends video. 

We LOVE thredUP because it is the perfect shopping destination for bosses, like yourself, who enjoy the finer things in life and care about being financially and environmentally responsible.

They are the largest secondhand online store and carry brands from Gucci to Gap! 

We partnered with THE Bay Area's fashion trendsetter, Shalini of Dress Up to Dazzle to put together some some HOT fashion looks. For all you bosses looking for some fashion inspo for this summer’s hottest events, check out this fun video collab...

Here are the deets from the looks!

Shalini's Look:

Romper - Ella Moss

Value - $242

thredUp's Price - $60.99

Shoes - Nine West

Value - $119

thredUp's Price - $28.99

For Shalini's outfit, we wanted to go for a look that looks like you spent hours putting together but in reality only took a few minutes!  Rompers are so easy to put on and looks like you put a lot of effort getting ready. 

Shalini from Dress Up to Dazzle

The Ella Moss romper is a vibrant pastel blue/periwinkle with a subtle polka dot pattern and has gorgeous lace/crochet detailing on the shoulders and the back.  It has cute ruffle detailing at the bottom to make it girly and flirty, and a wrap top which is very trendy. 

For the finishing touches, we added a pastel yellow peep toe heel to contrast the color of the romper and make the outfit pop even more for spring time. 

Danetha from Money & Mimosas

Danetha's Look:

Shorts - American Eagle

Value - $49.95

thredUP's price - $17.99

Shirt - Forever 21

Value - $12

thredUP's Price - $4.99

Jacket - Gap

Value - $89

thredUP's price - $23.99

Shoes - Rocket Dog

thredUP's price - $59

Our Price  - $17.99

Crossbody - Unbranded

Value - $60

Our Price - $27.99

Danetha on Money & Mimosas

For Danetha's outfit, we wanted to go for a sporty/casual chic look.  Denim cut offs are a staple for the warm weather.  The floral embroidery and the pop of red at the bottom takes this look to the next level. 

Instead of wearing a plain white tee, we added a crotchet crop top to give the look a little more depth and girly spring feel without being over the top. 

To tie the look all together we threw on a cropped green utility jacket, a circle cross body, and added cutout brown heeled booties which are spring wardrobe essentials!

Danetha & Shalini on Money & Mimosas

What are your favorite pieces from these two looks? Let us know in the comments!