

Tonya Rapley



  1. Before buying anything, ask yourself: What’s the worst thing that would happen if you didn’t buy this today? Do I already own something similar to this? And can I afford to maintain this? More broadly, ask yourself: Am I just winging it when it comes to my money, or am I actually being proactive? And what’s one thing that I could do to make myself feel that I’m being more proactive? Conducting audits of spending is a good way to avoid “lifestyle creep”—allowing raises to lead to increased spending instead of increased savings. 
  2. Make savings easier and automatic. “If you have a long-term savings goal, I always recommend creating an inconvenient savings account,” Tonya says. That could be using a credit union or bank across town. Or you could use Tonya’s own practice: “I usually set up an online account, and I don’t necessarily save the login information, but I have the account information. I just transfer money into that account, and I almost forget that I have it.”
  3. Maximize, maximize, maximize. “I always tell my husband that if we have free time—if we can sit on the couch and watch TV—that’s the opportunity to maximize our earning, to maximize our income, to maximize our earning opportunities, to maximize time with our son.” She also recommends maximizing talents to ensure that you have multiple ways to earn in the event something happens to your primary revenue stream.
  4. Reframe spending. “For a lot of us, if we see money in our bank account, we’re going to spend it. We’re think, ‘Oh, I have XYZ amount until payday. Now I can go buy this.’ No, it doesn’t necessarily mean that. It means that maybe you should be saving that instead of spending it.”

Tonya Rapley shared these tips and more at the 2019 Massachusetts Conference for Women. You can listen to her entire session here.

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