Mastering Your Finances: How to Afford Your Book Collection and Pursue Your Hobbies

In today’s economic climate, managing your finances can be challenging, especially when affording hobbies like building a book collection. Between inflation and rising costs, it’s easy to feel overwhelmed by the idea of balancing your passion for books with your financial responsibilities. I invited Ashley Feinstein Gerstley, founder of The Fiscal Femme, to join me on the What to Read Next Podcast to share her insights on how to enjoy your hobbies without breaking the bank.

Ashley is a financial expert with over 14 years of experience helping people de-stress their money and achieve their financial goals. Through her company, The Fiscal Femme, she’s made it her mission to empower people, especially women, to take control of their finances and build wealth. She also authorizes two essential finance books: The 30-Day Money Cleanse and Financial Adulting. In this episode, we dive into practical tips for managing your money while enjoying the things you love, like books and other hobbies.

Understanding Your Financial Priorities

One of the critical concepts Ashley shared is the idea of being “fabulously frugal.” This means clarifying what’s truly important to you in your spending and letting go of the less important things. For example, if building a book collection is your priority, you might cut back on other expenses that don’t bring you as much joy or value. It’s all about aligning your spending with your personal values and goals so you can enjoy the things that matter most without feeling guilty or stressed.

Ashley suggests closely examining your spending habits and asking yourself your most important hobbies or interests. Is it the experience of reading and owning books? Or is it the excitement of discovering new stories without keeping them all? By identifying what really matters, you can make more intentional decisions about where to allocate your money.

Practical Tips for Managing Finances

Money Parties

During our conversation, Ashley introduced the concept of “money parties,” which are regular financial check-ins where you track your spending, set goals, and adjust your budget as needed. The idea is to make managing your money a fun and rewarding activity rather than something to dread. Setting aside time each month for a money party allows you to stay on top of your finances and ensure you’re on track to meet your goals.

Automatic Savings Transfers 

Another key tip from Ashley is to set up automatic savings transfers, even if the amount is small. This “pay yourself first” approach ensures that you’re consistently setting aside money for your future before you have a chance to spend it on other things. Over time, these small amounts can add up and help you build a financial cushion to enjoy your hobbies without stress.

Tips to Start a New Hobby While Saving Money

If you’re considering starting a new hobby, Ashley recommends testing it out with minimal investment. For example, you could borrow equipment or try second-hand options before purchasing. This way, you can see if the hobby is something you’ll stick with before spending a lot of money on it.

Navigating Social Media Triggers

Social media can be a double-edged sword when managing your finances. On one hand, it’s a great place to discover new books, hobbies, and deals. On the other hand, it can also trigger impulsive spending, especially during sales events like Prime Day. Ashley advises giving yourself time to think before making a purchase. If you weren’t planning to buy something before seeing it on sale, you don’t need it.

Ashley also shared a fun tool she created called the “Should I Buy This?” quiz, which helps you think through your purchases and avoid impulsive spending. Another tip is to have a “money buddy” or accountability partner who knows your financial goals and can help you stay on track. Discussing your money goals with friends and family can give you the support you need to make mindful spending decisions.

Books to Help You on Your Financial Journey

Ashley’s two books, The 30-Day Money Cleanse and Financial Adulting, are must-reads for anyone looking to take control of their finances.

The 30-Day Money Cleanse is a practical guide to detoxing your spending habits and creating a sustainable financial plan. It’s based on Ashley’s successful 30-day program that has helped people save an average of $950 without feeling restricted. The book is colorful and interactive, with workbook elements that guide you through aligning your spending with your values.

Financial Adulting is a comprehensive reference book that covers everything from investing and retirement to estate planning and taxes. It’s designed to be a go-to resource for all your financial questions, helping you confidently navigate the complexities of personal finance.

These books provide actionable tips and insights that can help you build a strong financial foundation while still enjoying the things you love.

Conclusion

Managing your finances doesn’t have to mean giving up the things you love. You can afford your hobbies and build wealth by intentionally spending, setting aside time for regular financial check-ins, and using tools like Ashley’s “Should I Buy This?” quiz. Whether you’re looking to grow your book collection or start a new hobby, these tips from Ashley Feinstein Gerstley can help you enjoy your passions without financial stress.

To dive deeper into these topics, listen to the full podcast episode with Ashley Feinstein Gerstley. And don’t forget to check out her books, The 30-Day Money Cleanse and Financial Adulting, for more practical advice on managing your money.

Connect with Ashley Feinstein Gerstley:

• Website: The Fiscal Femme – Explore free resources, templates, and guides to help you take control of your finances.

Social Media: Find Ashley on all platforms @TheFiscalFemme.