This is a guest post from Republic Wireless member and founder of EconoMe LLC, Diania. See her previous post on money saving tips and financial independence.
Greetings fellow Republic Wireless members! I hope you’re all managing ok during this challenging time.
When I started my journey to financial literacy, I began with budgeting and tracking expenses. Becoming super aware of my fixed and discretionary expenses has helped me set goals for saving and investing. I’ve also identified areas where I could reduce my costs. As I began to reach my saving and investing goals (thanks in part to no surprise fees on my Republic Wireless bill), I was able to seize opportunities like buying a house, taking 2 months off of work unpaid to walk the Camino de Santiago (a 500 mile trek across Spain), and fund my business (The EconoMe Conference).
There can be a lot of variability in expenses, even in those that appear to be fixed for a time. I’ve noticed on my internet costs, suppliers will often offer an introductory rate for the first year. I don’t have a lot of visibility on how much it will increase after that introductory period. When I bought my house, I knew my yearly property taxes for the first 2 years, but then my house was reassessed and I had to adapt to my property taxes tripling.
Every time there is an adjustment to a necessary cost like insurance, property taxes, internet/cable provider, etc, I find myself reworking my budget. By doing this, I stay on track with my savings and investing goals. Verizon snuck additional charges and fees onto my bill all the time. I often found myself calling them to understand the variability in my bills. Take a look at one of my old bills:
With Republic, my bill is simple and straightforward
This is why I’m so happy with my truly fixed cost with Republic Wireless. This hasn’t happened once in my 5 years with Republic Wireless. The certainty of this expense gives me one less thing to worry about in these unpredictable times. I get this simple email statement that’s the same every month. A welcome change from pages of charges from the big carrier.
Budgeting also helps us plan for the unexpected, and we certainly find ourselves in unprecedented times. In a time of so much uncertainty, it brings me comfort to focus on things I can control. For example, I can’t control if my employer decides to put me on furlough or lay me off, but I can control my emergency fund so that I’m prepared for a period of unemployment. Becoming financially resilient has come to feel like the seat belt I wear on this roller coaster we call life.
I’m fortunate to be a part of a community of people focused on their own financial resilience. We came together on March 7th at the University of Cincinnati to hear from 9 expert speakers and learn from each other at The EconoMe Conference. We were thrilled that Republic Wireless joined us to share more about their economical offering to help us all stay connected.
Sign up for our mailing list to view the FREE videos from our mainstage speakers and learn how you can join the fun at EconoMe 2021.